SWVXX vs. SWAGX

Last updated Jun 23, 2026

SWVXX (Schwab Prime Advantage Money Fund Investor Shares) and SWAGX (Schwab U.S. Aggregate Bond Index Fund) are both mutual funds - SWVXX is a Money Market fund actively managed by Charles Schwab, while SWAGX is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index. SWVXX is actively managed, while SWAGX is passively managed. Over the past 5 years, SWVXX returned 3.14%/yr vs -0.16%/yr for SWAGX. At a 0.07 correlation, their price movements are largely independent. SWVXX charges 0.34%/yr vs 0.04%/yr for SWAGX.

Performance

SWVXX vs. SWAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Prime Advantage Money Fund Investor Shares (SWVXX) and Schwab U.S. Aggregate Bond Index Fund (SWAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWVXX achieves a 1.45% return, which is significantly higher than SWAGX's 0.38% return.

SWVXX

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.45%
• 6M: 1.77%
• 1Y: 3.85%
• 3Y*: 4.56%
• 5Y*: 3.14%
• 10Y*: —

SWAGX

• 1D: 0.22%
• 1M: 0.81%
• YTD: 0.38%
• 6M: 0.74%
• 1Y: 4.66%
• 3Y*: 4.01%
• 5Y*: -0.16%
• 10Y*: —

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

SWVXX vs. SWAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SWVXX Schwab Prime Advantage Money Fund Investor Shares	1.45%	4.15%	5.16%	5.04%	0.00%	0.00%
SWAGX Schwab U.S. Aggregate Bond Index Fund	0.38%	7.11%	1.38%	5.46%	-13.62%	0.81%

Correlation

The correlation between SWVXX and SWAGX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since May 25, 2021	0.07

Over the past year, SWVXX and SWAGX have become more correlated (0.30) than their long-term average of 0.07, meaning their price movements have been converging.

Return for Risk

SWVXX vs. SWAGX — Risk / Return Rank

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

SWVXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SWAGX

SWAGX Risk / Return Rank: 20
SWAGX Sharpe Ratio Rank: 21
SWAGX Sortino Ratio Rank: 22
SWAGX Omega Ratio Rank: 19
SWAGX Calmar Ratio Rank: 21
SWAGX Martin Ratio Rank: 19

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.

SWVXX vs. SWAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Prime Advantage Money Fund Investor Shares (SWVXX) and Schwab U.S. Aggregate Bond Index Fund (SWAGX). 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.

	SWVXX	SWAGX	Difference
Sharpe ratio: Return per unit of total volatility	3.71	1.21	+2.50
Sortino ratio: Return per unit of downside risk	—	1.84	—
Omega ratio: Gain probability vs. loss probability	—	1.21	—
Calmar ratio: Return relative to maximum drawdown	—	1.57	—
Martin ratio: Return relative to average drawdown	—	4.48	—

SWVXX vs. SWAGX - Sharpe Ratio Comparison

The current SWVXX Sharpe Ratio is 3.71, which is higher than the SWAGX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of SWVXX and SWAGX, 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

SWVXX vs. SWAGX - Drawdown Comparison

The maximum SWVXX drawdown since its inception was 0.00%, smaller than the maximum SWAGX drawdown of -19.68%. Use the drawdown chart below to compare losses from any high point for SWVXX and SWAGX.

Drawdown Indicators

	SWVXX	SWAGX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-19.68%	+19.68%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-3.05%	+3.05%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	-6.14%	+6.14%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	-18.76%	+18.76%
Current Drawdown Current decline from peak	0.00%	-3.38%	+3.38%
Average Drawdown Average peak-to-trough decline	0.00%	-5.67%	+5.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	1.07%	-1.07%

Volatility

SWVXX vs. SWAGX - Volatility Comparison

The current volatility for Schwab Prime Advantage Money Fund Investor Shares (SWVXX) is 0.29%, while Schwab U.S. Aggregate Bond Index Fund (SWAGX) has a volatility of 1.14%. This indicates that SWVXX experiences smaller price fluctuations and is considered to be less risky than SWAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWVXX	SWAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.29%	1.14%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	0.70%	2.94%	-2.24%
Volatility (1Y) Calculated over the trailing 1-year period	1.10%	3.95%	-2.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.09%	6.09%	-5.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.09%	5.11%	-4.02%

SWVXX vs. SWAGX - Expense Ratio Comparison

SWVXX has a 0.34% expense ratio, which is higher than SWAGX's 0.04% expense ratio.

Dividends

SWVXX vs. SWAGX - Dividend Comparison

SWVXX's dividend yield for the trailing twelve months is around 3.77%, less than SWAGX's 4.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWAGX Schwab U.S. Aggregate Bond Index Fund	4.13%	4.02%	3.88%	3.22%	1.93%	1.56%	2.47%	2.87%	2.80%	1.98%
SWVXX Schwab Prime Advantage Money Fund Investor Shares	3.77%	4.06%	5.02%	4.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SWVXX and SWAGX in my portfolio?

SWVXX and SWAGX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWVXX or SWAGX?

SWAGX has higher volatility (1.14%) compared to SWVXX (0.29%). In terms of maximum drawdown, SWVXX dropped 0.00% vs SWAGX's -19.68%.

Which has better risk-adjusted returns?

SWVXX currently has the higher Sharpe Ratio (3.71 vs 1.21), 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.