SWHYX vs. VWELX

Last updated Aug 1, 2026

SWHYX (Schwab Opportunistic Municipal Bond Fund) and VWELX (Vanguard Wellington Fund Investor Shares) are both mutual funds - SWHYX is a Municipal Bonds fund managed by Charles Schwab, while VWELX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 5 years, SWHYX returned 0.09%/yr vs 7.70%/yr for VWELX. Their 0.18 correlation means their historical movements had little consistent relationship. SWHYX charges 0.50%/yr vs 0.24%/yr for VWELX.

Performance

SWHYX vs. VWELX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Opportunistic Municipal Bond Fund (SWHYX) and Vanguard Wellington Fund Investor Shares (VWELX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWHYX achieves a 0.54% return, which is significantly lower than VWELX's 4.88% return.

SWHYX

• 1D: -0.34%
• 1M: -2.13%
• 6M: -0.08%
• YTD: 0.54%
• 1Y: 5.88%
• 3Y*: 3.18%
• 5Y*: 0.09%
• 10Y*: —
• ALL TIME*: 0.91%

VWELX

• 1D: 1.44%
• 1M: -1.15%
• 6M: 4.06%
• YTD: 4.88%
• 1Y: 13.65%
• 3Y*: 13.46%
• 5Y*: 7.70%
• 10Y*: 9.70%
• ALL TIME*: 9.37%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SWHYX Schwab Opportunistic Municipal Bond Fund	$0.00	$0.00	$0.00
VWELX Vanguard Wellington Fund Investor Shares	$0.00	$0.00	$0.00

SWHYX vs. VWELX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SWHYX Schwab Opportunistic Municipal Bond Fund	0.54%	2.98%	1.89%	9.24%	-12.81%	2.49%	2.52%
VWELX Vanguard Wellington Fund Investor Shares	4.88%	16.54%	14.73%	14.29%	-14.36%	18.99%	8.14%

Correlation

The correlation between SWHYX and VWELX is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.23
Correlation (5Y) Shows whether the relationship held over a longer period.	0.20
Correlation (All Time) Calculated using the full available price history since Aug 12, 2020	0.18

The correlation between SWHYX and VWELX shifts across timeframes, from 0.18 (all time) to 0.29 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SWHYX vs. VWELX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SWHYX

SWHYX Risk / Return Rank: 81
SWHYX Sharpe Ratio Rank: 89
SWHYX Sortino Ratio Rank: 87
SWHYX Omega Ratio Rank: 92
SWHYX Calmar Ratio Rank: 74
SWHYX Martin Ratio Rank: 62

VWELX

VWELX Risk / Return Rank: 57
VWELX Sharpe Ratio Rank: 56
VWELX Sortino Ratio Rank: 55
VWELX Omega Ratio Rank: 54
VWELX Calmar Ratio Rank: 55
VWELX Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SWHYX vs. VWELX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Opportunistic Municipal Bond Fund (SWHYX) and Vanguard Wellington Fund Investor Shares (VWELX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SWHYX	VWELX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	1.37	+0.85
Sortino ratio: Return per unit of downside risk	3.19	1.95	+1.24
Omega ratio: Gain probability vs. loss probability	1.52	1.25	+0.27
Calmar ratio: Return relative to maximum drawdown	2.39	1.88	+0.51
Martin ratio: Return relative to average drawdown	7.89	7.96	-0.07

SWHYX vs. VWELX - Sharpe Ratio Comparison

The current SWHYX Sharpe Ratio is 2.22, which is higher than the VWELX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of SWHYX and VWELX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SWHYX vs. VWELX - Drawdown Comparison

The maximum SWHYX drawdown since its inception was -17.46%, smaller than the maximum VWELX drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for SWHYX and VWELX.

Drawdown Indicators

	SWHYX	VWELX	Difference
Max Drawdown Largest peak-to-trough decline	-17.46%	-36.12%	+18.66%
Max Drawdown (1Y) Largest decline over 1 year	-2.78%	-6.78%	+4.00%
Max Drawdown (3Y) Largest decline over 3 years	-7.16%	-11.98%	+4.82%
Max Drawdown (5Y) Largest decline over 5 years	-17.00%	-20.88%	+3.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.33%	—
Current Drawdown Current decline from peak	-2.13%	-2.09%	-0.04%
Average Drawdown Average peak-to-trough decline	-5.00%	-3.91%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	1.60%	-0.76%

Volatility

SWHYX vs. VWELX - Volatility Comparison

The current volatility for Schwab Opportunistic Municipal Bond Fund (SWHYX) is 1.12%, while Vanguard Wellington Fund Investor Shares (VWELX) has a volatility of 2.81%. This indicates that SWHYX experiences smaller price fluctuations and is considered to be less risky than VWELX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWHYX	VWELX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	2.81%	-1.69%
Volatility (6M) Calculated over the trailing 6-month period	2.39%	7.60%	-5.21%
Volatility (1Y) Calculated over the trailing 1-year period	3.00%	9.31%	-6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.65%	11.26%	-6.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.32%	11.55%	-7.23%

SWHYX vs. VWELX - Expense Ratio Comparison

SWHYX has a 0.50% expense ratio, which is higher than VWELX's 0.24% expense ratio.

Dividends

SWHYX vs. VWELX - Dividend Comparison

SWHYX's dividend yield for the trailing twelve months is around 3.32%, less than VWELX's 11.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWHYX Schwab Opportunistic Municipal Bond Fund	3.32%	4.12%	3.79%	6.48%	3.38%	2.46%	1.71%	0.00%	0.00%	0.00%	0.00%	0.00%
VWELX Vanguard Wellington Fund Investor Shares	11.03%	11.46%	10.76%	6.01%	8.19%	8.64%	7.77%	4.67%	9.49%	5.82%	4.44%	7.03%

Frequently Asked Questions

Can I hold both SWHYX and VWELX in my portfolio?

SWHYX and VWELX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWHYX or VWELX?

VWELX has higher volatility (2.81%) compared to SWHYX (1.12%). In terms of maximum drawdown, SWHYX dropped -17.46% vs VWELX's -36.12%.

Which has better risk-adjusted returns?

SWHYX currently has the higher Sharpe Ratio (2.22 vs 1.37), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.