SWLRX vs. AOK

Last updated Jun 4, 2026

SWLRX (Schwab Monthly Income Fund - Maximum Payout) and AOK (iShares Core Conservative Allocation ETF) are both Diversified Portfolio funds. Over the past 10 years, SWLRX returned 3.48%/yr vs 5.14%/yr for AOK. A 0.70 correlation means they provide meaningful diversification when combined. SWLRX charges 0.00%/yr vs 0.25%/yr for AOK.

Performance

SWLRX vs. AOK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Monthly Income Fund - Maximum Payout (SWLRX) and iShares Core Conservative Allocation ETF (AOK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SWLRX having a 4.27% return and AOK slightly lower at 4.26%. Over the past 10 years, SWLRX has underperformed AOK with an annualized return of 3.48%, while AOK has yielded a comparatively higher 5.14% annualized return.

SWLRX

• 1D: 0.10%
• 1M: 0.79%
• YTD: 4.27%
• 6M: 4.44%
• 1Y: 10.74%
• 3Y*: 8.00%
• 5Y*: 2.70%
• 10Y*: 3.48%

AOK

• 1D: -0.41%
• 1M: 1.66%
• YTD: 4.26%
• 6M: 4.14%
• 1Y: 12.11%
• 3Y*: 9.28%
• 5Y*: 3.71%
• 10Y*: 5.14%

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

SWLRX vs. AOK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWLRX Schwab Monthly Income Fund - Maximum Payout	4.27%	9.85%	3.75%	8.04%	-12.49%	2.33%	6.93%	11.18%	-2.31%	5.64%
AOK iShares Core Conservative Allocation ETF	4.26%	11.26%	6.58%	10.85%	-14.16%	4.87%	9.33%	13.90%	-3.09%	9.70%

Correlation

The correlation between SWLRX and AOK is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 11, 2008	0.70

The correlation between SWLRX and AOK shifts across timeframes, from 0.70 (all time) to 0.84 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SWLRX vs. AOK — Risk / Return Rank

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

SWLRX

SWLRX Risk / Return Rank: 67
SWLRX Sharpe Ratio Rank: 72
SWLRX Sortino Ratio Rank: 74
SWLRX Omega Ratio Rank: 70
SWLRX Calmar Ratio Rank: 64
SWLRX Martin Ratio Rank: 56

AOK

AOK Risk / Return Rank: 61
AOK Sharpe Ratio Rank: 61
AOK Sortino Ratio Rank: 64
AOK Omega Ratio Rank: 65
AOK Calmar Ratio Rank: 54
AOK Martin Ratio Rank: 62

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.

SWLRX vs. AOK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Monthly Income Fund - Maximum Payout (SWLRX) and iShares Core Conservative Allocation ETF (AOK). 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.

	SWLRX	AOK	Difference
Sharpe ratio Return per unit of total volatility	2.46	2.11	+0.35
Sortino ratio Return per unit of downside risk	3.59	3.01	+0.58
Omega ratio Gain probability vs. loss probability	1.47	1.41	+0.06
Calmar ratio Return relative to maximum drawdown	3.09	2.70	+0.39
Martin ratio Return relative to average drawdown	11.33	11.50	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWLRX vs. AOK - Sharpe Ratio Comparison

The current SWLRX Sharpe Ratio is 2.46, which is comparable to the AOK Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of SWLRX and AOK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SWLRX	AOK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	2.11	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.53	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.77	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.71	+0.11

Drawdowns

SWLRX vs. AOK - Drawdown Comparison

The maximum SWLRX drawdown since its inception was -18.60%, roughly equal to the maximum AOK drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for SWLRX and AOK.

Drawdown Indicators

	SWLRX	AOK	Difference
Max Drawdown Largest peak-to-trough decline	-18.60%	-18.94%	+0.34%
Max Drawdown (1Y) Largest decline over 1 year	-3.49%	-4.50%	+1.01%
Max Drawdown (3Y) Largest decline over 3 years	-6.47%	-6.37%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-18.60%	-18.94%	+0.34%
Max Drawdown (10Y) Largest decline over 10 years	-18.60%	-18.94%	+0.34%
Current Drawdown Current decline from peak	-0.74%	-0.41%	-0.33%
Average Drawdown Average peak-to-trough decline	-2.36%	-2.37%	+0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	1.06%	-0.11%

Volatility

SWLRX vs. AOK - Volatility Comparison

The current volatility for Schwab Monthly Income Fund - Maximum Payout (SWLRX) is 1.34%, while iShares Core Conservative Allocation ETF (AOK) has a volatility of 1.97%. This indicates that SWLRX experiences smaller price fluctuations and is considered to be less risky than AOK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWLRX	AOK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	1.97%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	3.33%	4.47%	-1.14%
Volatility (1Y) Calculated over the trailing 1-year period	4.38%	5.76%	-1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.20%	7.10%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.13%	6.71%	-1.58%

SWLRX vs. AOK - Expense Ratio Comparison

SWLRX has a 0.00% expense ratio, which is lower than AOK's 0.25% 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

SWLRX vs. AOK - Dividend Comparison

SWLRX's dividend yield for the trailing twelve months is around 4.58%, more than AOK's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOK iShares Core Conservative Allocation ETF	3.28%	3.28%	3.23%	2.93%	2.25%	1.55%	2.10%	2.71%	2.68%	2.91%	2.14%	2.02%
SWLRX Schwab Monthly Income Fund - Maximum Payout	4.58%	4.63%	4.94%	4.10%	4.63%	3.07%	2.19%	3.22%	3.30%	2.47%	4.00%	4.31%

Frequently Asked Questions

Can I hold both SWLRX and AOK in my portfolio?

SWLRX and AOK have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWLRX or AOK?

AOK has higher volatility (1.97%) compared to SWLRX (1.34%). In terms of maximum drawdown, SWLRX dropped -18.60% vs AOK's -18.94%.

Which has better risk-adjusted returns?

SWLRX currently has the higher Sharpe Ratio (2.46 vs 2.11), 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.