SWOBX vs. SWYEX

Last updated Jun 4, 2026

SWOBX (Schwab Balanced Fund™) and SWYEX (Schwab Target 2030 Index Fund) are both mutual funds - SWOBX is a Diversified Portfolio fund managed by Charles Schwab, while SWYEX is a Target Retirement Date fund managed by Charles Schwab. Over the past 5 years, SWOBX returned 6.93%/yr vs 7.19%/yr for SWYEX. With a 0.96 correlation, they move nearly in lockstep. SWOBX charges 0.00%/yr vs 0.04%/yr for SWYEX.

Performance

SWOBX vs. SWYEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Balanced Fund™ (SWOBX) and Schwab Target 2030 Index Fund (SWYEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWOBX achieves a 6.26% return, which is significantly lower than SWYEX's 7.72% return.

SWOBX

• 1D: 0.05%
• 1M: 3.09%
• YTD: 6.26%
• 6M: 6.11%
• 1Y: 17.29%
• 3Y*: 13.39%
• 5Y*: 6.93%
• 10Y*: 8.92%

SWYEX

• 1D: 0.21%
• 1M: 3.32%
• YTD: 7.72%
• 6M: 8.02%
• 1Y: 18.63%
• 3Y*: 14.00%
• 5Y*: 7.19%
• 10Y*: —

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

SWOBX vs. SWYEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWOBX Schwab Balanced Fund™	6.26%	12.76%	12.51%	18.25%	-18.86%	14.76%	14.73%	20.13%	-4.35%	15.52%
SWYEX Schwab Target 2030 Index Fund	7.72%	14.82%	10.38%	16.65%	-15.68%	12.58%	13.17%	20.88%	-5.07%	16.22%

Correlation

The correlation between SWOBX and SWYEX is 0.97 - 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	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Aug 31, 2016	0.96

The correlation between SWOBX and SWYEX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

SWOBX vs. SWYEX - Sectors Allocation Comparison

Sectors	SWOBX	SWYEX
Technology	34.8%	27.4%
Industrials	11.1%	11.1%
Healthcare	10.7%	7.8%
Communication Services	10.0%	7.8%
Consumer Cyclical	9.7%	8.9%
Financial Services	9.2%	14.6%
Consumer Defensive	4.2%	4.7%
Energy	4.0%	3.9%
Basic Materials	2.7%	3.4%
Utilities	2.6%	2.5%
Real Estate	1.1%	8.0%

Return for Risk

SWOBX vs. SWYEX — Risk / Return Rank

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

SWOBX

SWOBX Risk / Return Rank: 51
SWOBX Sharpe Ratio Rank: 49
SWOBX Sortino Ratio Rank: 49
SWOBX Omega Ratio Rank: 48
SWOBX Calmar Ratio Rank: 49
SWOBX Martin Ratio Rank: 60

SWYEX

SWYEX Risk / Return Rank: 73
SWYEX Sharpe Ratio Rank: 75
SWYEX Sortino Ratio Rank: 73
SWYEX Omega Ratio Rank: 70
SWYEX Calmar Ratio Rank: 69
SWYEX Martin Ratio Rank: 76

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.

SWOBX vs. SWYEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Balanced Fund™ (SWOBX) and Schwab Target 2030 Index Fund (SWYEX). 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.

	SWOBX	SWYEX	Difference
Sharpe ratio Return per unit of total volatility	2.06	2.50	-0.44
Sortino ratio Return per unit of downside risk	2.96	3.57	-0.62
Omega ratio Gain probability vs. loss probability	1.38	1.47	-0.09
Calmar ratio Return relative to maximum drawdown	2.68	3.20	-0.52
Martin ratio Return relative to average drawdown	11.90	14.26	-2.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWOBX vs. SWYEX - Sharpe Ratio Comparison

The current SWOBX Sharpe Ratio is 2.06, which is comparable to the SWYEX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of SWOBX and SWYEX, 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

	SWOBX	SWYEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	2.50	-0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.66	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.78	-0.17

Drawdowns

SWOBX vs. SWYEX - Drawdown Comparison

The maximum SWOBX drawdown since its inception was -35.99%, which is greater than SWYEX's maximum drawdown of -23.23%. Use the drawdown chart below to compare losses from any high point for SWOBX and SWYEX.

Drawdown Indicators

	SWOBX	SWYEX	Difference
Max Drawdown Largest peak-to-trough decline	-35.99%	-23.23%	-12.76%
Max Drawdown (1Y) Largest decline over 1 year	-6.58%	-5.92%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-11.72%	-9.70%	-2.02%
Max Drawdown (5Y) Largest decline over 5 years	-28.30%	-22.03%	-6.27%
Max Drawdown (10Y) Largest decline over 10 years	-28.30%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.21%	-3.67%	-2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.48%	1.32%	+0.16%

Volatility

SWOBX vs. SWYEX - Volatility Comparison

Schwab Balanced Fund™ (SWOBX) and Schwab Target 2030 Index Fund (SWYEX) have volatilities of 2.53% and 2.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWOBX	SWYEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	2.41%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	6.74%	6.01%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	8.58%	7.57%	+1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.96%	10.88%	+3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.88%	11.53%	+1.35%

SWOBX vs. SWYEX - Expense Ratio Comparison

SWOBX has a 0.00% expense ratio, which is lower than SWYEX's 0.04% 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

SWOBX vs. SWYEX - Dividend Comparison

SWOBX's dividend yield for the trailing twelve months is around 5.15%, more than SWYEX's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWOBX Schwab Balanced Fund™	5.15%	5.47%	4.94%	5.67%	10.21%	6.47%	2.97%	5.21%	7.11%	3.20%	7.83%	7.66%
SWYEX Schwab Target 2030 Index Fund	2.33%	2.51%	2.60%	2.28%	2.14%	1.85%	1.72%	1.92%	2.23%	1.31%	1.02%	0.00%

Frequently Asked Questions

Can I hold both SWOBX and SWYEX in my portfolio?

With a correlation of 0.97, SWOBX and SWYEX 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.

Which is riskier, SWOBX or SWYEX?

SWOBX has higher volatility (2.53%) compared to SWYEX (2.41%). In terms of maximum drawdown, SWOBX dropped -35.99% vs SWYEX's -23.23%.

Which has better risk-adjusted returns?

SWYEX currently has the higher Sharpe Ratio (2.50 vs 2.06), 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.