SWJRX vs. SWKRX
SWJRX (Schwab Monthly Income Fund - Moderate Payout) and SWKRX (Schwab Monthly Income Fund - Enhanced Payout) are both Diversified Portfolio funds from Charles Schwab. Over the past 10 years, SWJRX returned 5.23%/yr vs 4.62%/yr for SWKRX. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.00% expense ratio.
Performance
SWJRX vs. SWKRX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SWJRX having a 6.10% return and SWKRX slightly higher at 6.18%. Over the past 10 years, SWJRX has outperformed SWKRX with an annualized return of 5.23%, while SWKRX has yielded a comparatively lower 4.62% annualized return.
SWJRX
- 1D
- -0.18%
- 1M
- -0.59%
- YTD
- 6.10%
- 6M
- 6.13%
- 1Y
- 13.13%
- 3Y*
- 9.20%
- 5Y*
- 4.08%
- 10Y*
- 5.23%
SWKRX
- 1D
- -0.09%
- 1M
- -0.53%
- YTD
- 6.18%
- 6M
- 6.27%
- 1Y
- 13.19%
- 3Y*
- 9.22%
- 5Y*
- 3.89%
- 10Y*
- 4.62%
SWJRX vs. SWKRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWJRX Schwab Monthly Income Fund - Moderate Payout | 6.10% | 12.17% | 3.83% | 8.79% | -12.81% | 9.23% | 5.32% | 16.40% | -6.31% | 10.80% |
SWKRX Schwab Monthly Income Fund - Enhanced Payout | 6.18% | 12.14% | 3.85% | 8.71% | -12.47% | 5.73% | 6.11% | 13.79% | -4.20% | 8.19% |
Correlation
The correlation between SWJRX and SWKRX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2008 | 0.96 |
The correlation between SWJRX and SWKRX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
SWJRX vs. SWKRX — Risk / Return Rank
SWJRX
SWKRX
SWJRX vs. SWKRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Monthly Income Fund - Moderate Payout (SWJRX) and Schwab Monthly Income Fund - Enhanced Payout (SWKRX). 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.
| SWJRX | SWKRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.42 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 2.90 | -0.03 |
| Martin ratioReturn relative to average drawdown | 10.32 | 10.53 | -0.21 |
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Drawdowns
SWJRX vs. SWKRX - Drawdown Comparison
The maximum SWJRX drawdown since its inception was -25.61%, which is greater than SWKRX's maximum drawdown of -20.69%. Use the drawdown chart below to compare losses from any high point for SWJRX and SWKRX.
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Drawdown Indicators
| SWJRX | SWKRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.61% | -20.69% | -4.92% |
Max Drawdown (1Y)Largest decline over 1 year | -4.55% | -4.53% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -8.18% | -8.15% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -20.87% | -20.69% | -0.18% |
Max Drawdown (10Y)Largest decline over 10 years | -20.87% | -20.69% | -0.18% |
Current DrawdownCurrent decline from peak | -1.29% | -1.19% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -3.88% | -3.07% | -0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.24% | +0.02% |
Volatility
SWJRX vs. SWKRX - Volatility Comparison
Schwab Monthly Income Fund - Moderate Payout (SWJRX) has a higher volatility of 1.83% compared to Schwab Monthly Income Fund - Enhanced Payout (SWKRX) at 1.71%. This indicates that SWJRX's price experiences larger fluctuations and is considered to be riskier than SWKRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWJRX | SWKRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.83% | 1.71% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 4.45% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 5.79% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.72% | 8.12% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.59% | 7.08% | +1.51% |
SWJRX vs. SWKRX - Expense Ratio Comparison
SWJRX has a 0.00% expense ratio, which is lower than SWKRX's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SWJRX vs. SWKRX - Dividend Comparison
SWJRX's dividend yield for the trailing twelve months is around 4.70%, more than SWKRX's 4.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWJRX Schwab Monthly Income Fund - Moderate Payout | 4.70% | 4.78% | 4.94% | 4.80% | 8.67% | 3.62% | 2.49% | 5.36% | 3.47% | 2.93% | 6.05% | 6.80% |
SWKRX Schwab Monthly Income Fund - Enhanced Payout | 4.28% | 4.41% | 4.73% | 4.69% | 7.47% | 3.93% | 3.02% | 4.66% | 3.10% | 2.71% | 4.71% | 2.27% |
Frequently Asked Questions
With a correlation of 0.99, SWJRX and SWKRX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SWJRX has higher volatility (1.83%) compared to SWKRX (1.71%). In terms of maximum drawdown, SWJRX dropped -25.61% vs SWKRX's -20.69%.
SWKRX currently has the higher Sharpe Ratio (2.27 vs 2.25), 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.
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