SWRLX vs. TRERX

Last updated Jun 3, 2026

SWRLX (Touchstone International Equity Fund) and TRERX (Nuveen International Equity Fund Retirement Class) are both Foreign Large Cap Equities funds. Over the past 10 years, SWRLX returned 10.69%/yr vs 8.13%/yr for TRERX. Their correlation of 0.88 suggests significant overlap in exposure. SWRLX charges 1.37%/yr vs 0.70%/yr for TRERX.

Performance

SWRLX vs. TRERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone International Equity Fund (SWRLX) and Nuveen International Equity Fund Retirement Class (TRERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWRLX achieves a 21.39% return, which is significantly higher than TRERX's 6.77% return. Over the past 10 years, SWRLX has outperformed TRERX with an annualized return of 10.69%, while TRERX has yielded a comparatively lower 8.13% annualized return.

SWRLX

• 1D: 0.37%
• 1M: 7.25%
• YTD: 21.39%
• 6M: 26.24%
• 1Y: 49.51%
• 3Y*: 24.68%
• 5Y*: 12.13%
• 10Y*: 10.69%

TRERX

• 1D: 0.00%
• 1M: 2.79%
• YTD: 6.77%
• 6M: 9.02%
• 1Y: 22.37%
• 3Y*: 16.13%
• 5Y*: 7.01%
• 10Y*: 8.13%

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

SWRLX vs. TRERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWRLX Touchstone International Equity Fund	21.39%	53.78%	-1.53%	17.63%	-11.02%	3.86%	7.47%	25.87%	-16.81%	27.24%
TRERX Nuveen International Equity Fund Retirement Class	6.77%	32.87%	3.71%	16.63%	-17.52%	10.54%	15.51%	22.95%	-23.69%	31.53%

Correlation

The correlation between SWRLX and TRERX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 2, 2002	0.88

The correlation between SWRLX and TRERX has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

SWRLX vs. TRERX — Risk / Return Rank

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

SWRLX

SWRLX Risk / Return Rank: 91
SWRLX Sharpe Ratio Rank: 97
SWRLX Sortino Ratio Rank: 92
SWRLX Omega Ratio Rank: 91
SWRLX Calmar Ratio Rank: 89
SWRLX Martin Ratio Rank: 87

TRERX

TRERX Risk / Return Rank: 23
TRERX Sharpe Ratio Rank: 23
TRERX Sortino Ratio Rank: 22
TRERX Omega Ratio Rank: 23
TRERX Calmar Ratio Rank: 24
TRERX Martin Ratio Rank: 26

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.

SWRLX vs. TRERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone International Equity Fund (SWRLX) and Nuveen International Equity Fund Retirement Class (TRERX). 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.

	SWRLX	TRERX	Difference
Sharpe ratio Return per unit of total volatility	3.60	1.39	+2.21
Sortino ratio Return per unit of downside risk	4.64	1.98	+2.65
Omega ratio Gain probability vs. loss probability	1.66	1.25	+0.41
Calmar ratio Return relative to maximum drawdown	4.46	1.85	+2.61
Martin ratio Return relative to average drawdown	16.75	6.43	+10.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWRLX vs. TRERX - Sharpe Ratio Comparison

The current SWRLX Sharpe Ratio is 3.60, which is higher than the TRERX Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of SWRLX and TRERX, 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

	SWRLX	TRERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.60	1.39	+2.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.41	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.45	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.37	+0.04

Drawdowns

SWRLX vs. TRERX - Drawdown Comparison

The maximum SWRLX drawdown since its inception was -59.44%, smaller than the maximum TRERX drawdown of -64.73%. Use the drawdown chart below to compare losses from any high point for SWRLX and TRERX.

Drawdown Indicators

	SWRLX	TRERX	Difference
Max Drawdown Largest peak-to-trough decline	-59.44%	-64.73%	+5.29%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-13.26%	+1.77%
Max Drawdown (3Y) Largest decline over 3 years	-14.08%	-15.69%	+1.61%
Max Drawdown (5Y) Largest decline over 5 years	-34.19%	-32.21%	-1.98%
Max Drawdown (10Y) Largest decline over 10 years	-35.95%	-42.32%	+6.37%
Current Drawdown Current decline from peak	0.00%	-2.86%	+2.86%
Average Drawdown Average peak-to-trough decline	-11.63%	-14.47%	+2.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	3.80%	-0.74%

Volatility

SWRLX vs. TRERX - Volatility Comparison

The current volatility for Touchstone International Equity Fund (SWRLX) is 4.72%, while Nuveen International Equity Fund Retirement Class (TRERX) has a volatility of 5.53%. This indicates that SWRLX experiences smaller price fluctuations and is considered to be less risky than TRERX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWRLX	TRERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.72%	5.53%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	11.74%	14.20%	-2.46%
Volatility (1Y) Calculated over the trailing 1-year period	14.27%	17.16%	-2.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.37%	17.34%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.85%	18.11%	-1.26%

SWRLX vs. TRERX - Expense Ratio Comparison

SWRLX has a 1.37% expense ratio, which is higher than TRERX's 0.70% expense ratio.

Dividends

SWRLX vs. TRERX - Dividend Comparison

SWRLX's dividend yield for the trailing twelve months is around 6.29%, less than TRERX's 10.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWRLX Touchstone International Equity Fund	6.29%	7.63%	10.53%	1.36%	1.56%	14.95%	0.46%	9.10%	15.19%	3.61%	0.66%	3.76%
TRERX Nuveen International Equity Fund Retirement Class	10.19%	10.88%	2.17%	2.28%	1.85%	2.47%	0.93%	1.39%	7.06%	1.25%	1.20%	0.95%

Frequently Asked Questions

Can I hold both SWRLX and TRERX in my portfolio?

SWRLX and TRERX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWRLX or TRERX?

TRERX has higher volatility (5.53%) compared to SWRLX (4.72%). In terms of maximum drawdown, SWRLX dropped -59.44% vs TRERX's -64.73%.

Which has better risk-adjusted returns?

SWRLX currently has the higher Sharpe Ratio (3.60 vs 1.39), 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.