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SWVXX vs. USHY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SWVXX vs. USHY

Last updated Jun 14, 2026

SWVXX (Schwab Prime Advantage Money Fund Investor Shares) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both funds - SWVXX is a Money Market fund actively managed by Charles Schwab, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. SWVXX is actively managed, while USHY is passively managed. Over the past 5 years, SWVXX returned 3.14%/yr vs 4.21%/yr for USHY. At a correlation of -0.02, they often move in opposite directions. SWVXX charges 0.34%/yr vs 0.15%/yr for USHY.

Performance

SWVXX vs. USHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Prime Advantage Money Fund Investor Shares (SWVXX) and iShares Broad USD High Yield Corporate Bond ETF (USHY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SWVXX achieves a 1.45% return, which is significantly lower than USHY's 1.75% return.

SWVXX

1D
0.00%
1M
0.29%
YTD
1.45%
6M
1.77%
1Y
3.85%
3Y*
4.71%
5Y*
3.14%
10Y*
—

USHY

1D
0.03%
1M
0.68%
YTD
1.75%
6M
2.37%
1Y
7.19%
3Y*
8.94%
5Y*
4.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SWVXX vs. USHY - Yearly Performance Comparison

2026 (YTD)20252024202320222021
SWVXX
Schwab Prime Advantage Money Fund Investor Shares		1.45%4.15%5.16%5.04%0.00%0.00%
USHY
iShares Broad USD High Yield Corporate Bond ETF		1.75%8.81%8.45%12.73%-11.18%3.22%

Correlation

The correlation between SWVXX and USHY is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.05

Correlation (3Y)
Calculated over the trailing 3-year period

-0.00

Correlation (5Y)
Calculated over the trailing 5-year period

-0.02

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

-0.02

Compare stocks, funds, or ETFs

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Schwab Prime Advantage Money Fund Investor Shares

iShares Broad USD High Yield Corporate Bond ETF

Often compared with SWVXX:
SWVXX vs. SGOVSWVXX vs. VMFXXSWVXX vs. SNSXXSWVXX vs. SPAXXSWVXX vs. SHVSWVXX vs. BILSWVXX vs. SWAGX
Often compared with USHY:
USHY vs. HYGUSHY vs. SPHYUSHY vs. HYSUSHY vs. JNKUSHY vs. BKLNUSHY vs. HYLBUSHY vs. SPY

Return for Risk

SWVXX vs. USHY — 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.

USHY
USHY Risk / Return Rank: 7171
Overall Rank
USHY Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
USHY Sortino Ratio Rank: 7373
Sortino Ratio Rank
USHY Omega Ratio Rank: 7171
Omega Ratio Rank
USHY Calmar Ratio Rank: 6565
Calmar Ratio Rank
USHY Martin Ratio Rank: 7777
Martin Ratio Rank
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. USHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Prime Advantage Money Fund Investor Shares (SWVXX) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.

SWVXXUSHYDifference
Sharpe ratioReturn per unit of total volatility
3.71
1.88

+1.83

Sortino ratioReturn per unit of downside risk

—

2.83

—

Omega ratioGain probability vs. loss probability

—

1.36

—

Calmar ratioReturn relative to maximum drawdown

—

2.85

—

Martin ratioReturn relative to average drawdown

—

12.77

—

SWVXX vs. USHY - Sharpe Ratio Comparison

The current SWVXX Sharpe Ratio is 3.71, which is higher than the USHY Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of SWVXX and USHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SWVXX vs. USHY - Drawdown Comparison

The maximum SWVXX drawdown since its inception was 0.00%, smaller than the maximum USHY drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for SWVXX and USHY.

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Drawdown Indicators

SWVXXUSHYDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-22.44%

+22.44%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-2.43%

+2.43%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-4.66%

+4.66%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-15.56%

+15.56%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

0.00%

-2.66%

+2.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.54%

-0.54%

Volatility

SWVXX vs. USHY - Volatility Comparison

The current volatility for Schwab Prime Advantage Money Fund Investor Shares (SWVXX) is 0.29%, while iShares Broad USD High Yield Corporate Bond ETF (USHY) has a volatility of 1.20%. This indicates that SWVXX experiences smaller price fluctuations and is considered to be less risky than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SWVXXUSHYDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.29%

1.20%

-0.91%

Volatility (6M)

Calculated over the trailing 6-month period

0.76%

2.96%

-2.20%

Volatility (1Y)

Calculated over the trailing 1-year period

1.10%

3.69%

-2.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.09%

7.35%

-6.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.09%

8.24%

-7.15%

SWVXX vs. USHY - Expense Ratio Comparison

SWVXX has a 0.34% expense ratio, which is higher than USHY's 0.15% expense ratio.

Dividends

SWVXX vs. USHY - Dividend Comparison

SWVXX's dividend yield for the trailing twelve months is around 3.77%, less than USHY's 6.90% yield.

PositionTTM202520242023202220212020201920182017
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%
USHY
iShares Broad USD High Yield Corporate Bond ETF		6.90%6.79%6.89%6.63%6.08%5.07%5.30%5.92%6.30%0.73%

Frequently Asked Questions

SWVXX and USHY have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

USHY has higher volatility (1.20%) compared to SWVXX (0.29%). In terms of maximum drawdown, SWVXX dropped 0.00% vs USHY's -22.44%.

SWVXX currently has the higher Sharpe Ratio (3.71 vs 1.88), 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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