SWHYX vs. SWAGX

Last updated Apr 1, 2026

Compare and contrast key facts about Schwab Opportunistic Municipal Bond Fund (SWHYX) and Schwab U.S. Aggregate Bond Index Fund (SWAGX).

SWHYX is managed by Charles Schwab. It was launched on Mar 30, 2014. SWAGX is managed by Charles Schwab.

Performance

SWHYX vs. SWAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Opportunistic Municipal Bond Fund (SWHYX) and Schwab U.S. Aggregate Bond Index Fund (SWAGX). The values are adjusted to include any dividend payments, if applicable.

SWHYX vs. SWAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SWHYX Schwab Opportunistic Municipal Bond Fund	-0.44%	2.98%	1.89%	9.24%	-12.81%	2.49%	2.52%
SWAGX Schwab U.S. Aggregate Bond Index Fund	-0.44%	7.11%	1.38%	5.46%	-13.62%	-2.29%	0.40%

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with SWHYX at -0.44% and SWAGX at -0.44%.

SWHYX

• 1D: 0.23%
• 1M: -2.56%
• YTD: -0.44%
• 6M: 1.26%
• 1Y: 3.56%
• 3Y*: 3.56%
• 5Y*: 0.46%
• 10Y*: —

SWAGX

• 1D: 0.56%
• 1M: -2.30%
• YTD: -0.44%
• 6M: 0.48%
• 1Y: 3.81%
• 3Y*: 3.39%
• 5Y*: 0.01%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SWHYX vs. SWAGX - Expense Ratio Comparison

SWHYX has a 0.50% expense ratio, which is higher than SWAGX's 0.04% expense ratio.

SWHYX

Schwab Opportunistic Municipal Bond Fund

SWAGX

Schwab U.S. Aggregate Bond Index Fund

Return for Risk

SWHYX vs. SWAGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SWHYX

SWHYX Risk / Return Rank: 29
SWHYX Sharpe Ratio Rank: 30
SWHYX Sortino Ratio Rank: 24
SWHYX Omega Ratio Rank: 47
SWHYX Calmar Ratio Rank: 25
SWHYX Martin Ratio Rank: 21

SWAGX

SWAGX Risk / Return Rank: 55
SWAGX Sharpe Ratio Rank: 54
SWAGX Sortino Ratio Rank: 53
SWAGX Omega Ratio Rank: 39
SWAGX Calmar Ratio Rank: 76
SWAGX Martin Ratio Rank: 51

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SWHYX vs. SWAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Opportunistic Municipal Bond Fund (SWHYX) and Schwab U.S. Aggregate Bond Index Fund (SWAGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	SWHYX	SWAGX	Difference
Sharpe ratio Return per unit of total volatility	0.69	0.98	-0.29
Sortino ratio Return per unit of downside risk	0.94	1.42	-0.47
Omega ratio Gain probability vs. loss probability	1.20	1.17	+0.02
Calmar ratio Return relative to maximum drawdown	0.74	1.75	-1.01
Martin ratio Return relative to average drawdown	2.20	4.95	-2.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWHYX vs. SWAGX - Sharpe Ratio Comparison

The current SWHYX Sharpe Ratio is 0.69, which is comparable to the SWAGX Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of SWHYX and SWAGX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SWHYX	SWAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	0.98	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.00	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.30	-0.12

Correlation

The correlation between SWHYX and SWAGX is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SWHYX vs. SWAGX - Dividend Comparison

SWHYX's dividend yield for the trailing twelve months is around 3.82%, more than SWAGX's 3.76% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWHYX Schwab Opportunistic Municipal Bond Fund	3.82%	4.12%	3.79%	6.48%	3.38%	2.46%	1.71%	0.00%	0.00%	0.00%
SWAGX Schwab U.S. Aggregate Bond Index Fund	3.76%	4.02%	3.88%	3.22%	1.93%	1.56%	2.47%	2.87%	2.80%	1.98%

Drawdowns

SWHYX vs. SWAGX - Drawdown Comparison

The maximum SWHYX drawdown since its inception was -17.46%, smaller than the maximum SWAGX drawdown of -19.68%. Use the drawdown chart below to compare losses from any high point for SWHYX and SWAGX.

Drawdown Indicators

	SWHYX	SWAGX	Difference
Max Drawdown Largest peak-to-trough decline	-17.46%	-19.68%	+2.22%
Max Drawdown (1Y) Largest decline over 1 year	-5.71%	-2.84%	-2.87%
Max Drawdown (5Y) Largest decline over 5 years	-17.46%	-18.76%	+1.30%
Current Drawdown Current decline from peak	-2.56%	-4.18%	+1.62%
Average Drawdown Average peak-to-trough decline	-5.25%	-5.72%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.00%	+0.92%

Volatility

SWHYX vs. SWAGX - Volatility Comparison

The current volatility for Schwab Opportunistic Municipal Bond Fund (SWHYX) is 1.23%, while Schwab U.S. Aggregate Bond Index Fund (SWAGX) has a volatility of 1.66%. This indicates that SWHYX experiences smaller price fluctuations and is considered to be less risky than SWAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWHYX	SWAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	1.66%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	1.75%	2.70%	-0.95%
Volatility (1Y) Calculated over the trailing 1-year period	5.61%	4.48%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.60%	6.06%	-1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.38%	5.13%	-0.75%