SWYAX vs. TRRFX
SWYAX (Schwab Target 2010 Index Fund) and TRRFX (T. Rowe Price Retirement 2005 Fund) are both Target Retirement Date funds. Over the past 5 years, SWYAX returned 3.93%/yr vs 3.09%/yr for TRRFX. Their correlation of 0.91 means they have usually moved in the same direction. SWYAX charges 0.04%/yr vs 0.49%/yr for TRRFX.
Performance
SWYAX vs. TRRFX - Performance Comparison
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Returns By Period
In the year-to-date period, SWYAX achieves a 3.27% return, which is significantly lower than TRRFX's 4.12% return.
SWYAX
- 1D
- -0.59%
- 1M
- -1.24%
- 6M
- 2.03%
- YTD
- 3.27%
- 1Y
- 8.22%
- 3Y*
- 8.56%
- 5Y*
- 3.93%
- 10Y*
- —
- ALL TIME*
- 5.65%
TRRFX
- 1D
- -0.45%
- 1M
- -1.13%
- 6M
- 1.94%
- YTD
- 4.12%
- 1Y
- 3.30%
- 3Y*
- 7.09%
- 5Y*
- 3.09%
- 10Y*
- 5.24%
- ALL TIME*
- 5.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SWYAX vs. TRRFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWYAX Schwab Target 2010 Index Fund | 3.27% | 11.17% | 7.18% | 11.95% | -13.28% | 6.99% | 10.61% | 14.55% | -2.27% | 9.48% |
TRRFX T. Rowe Price Retirement 2005 Fund | 4.12% | 5.43% | 8.04% | 11.97% | -13.61% | 8.13% | 11.24% | 15.09% | -3.29% | 10.67% |
Correlation
The correlation between SWYAX and TRRFX is 0.92, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2016 | 0.91 |
The correlation between SWYAX and TRRFX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
SWYAX vs. TRRFX — Risk / Return Rank
SWYAX
TRRFX
SWYAX vs. TRRFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2010 Index Fund (SWYAX) and T. Rowe Price Retirement 2005 Fund (TRRFX). 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.
| SWYAX | TRRFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.03 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.09 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 0.46 | +1.45 |
| Martin ratioReturn relative to average drawdown | 8.23 | 1.27 | +6.96 |
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Drawdowns
SWYAX vs. TRRFX - Drawdown Comparison
The maximum SWYAX drawdown since its inception was -19.82%, smaller than the maximum TRRFX drawdown of -33.29%. Use the drawdown chart below to compare losses from any high point for SWYAX and TRRFX.
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Drawdown Indicators
| SWYAX | TRRFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.82% | -33.29% | +13.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.16% | -6.90% | +2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -5.86% | -6.90% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -19.82% | -18.82% | -1.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.82% | — |
Current DrawdownCurrent decline from peak | -1.52% | -1.43% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -3.48% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 2.44% | -1.48% |
Volatility
SWYAX vs. TRRFX - Volatility Comparison
Schwab Target 2010 Index Fund (SWYAX) and T. Rowe Price Retirement 2005 Fund (TRRFX) have volatilities of 1.34% and 1.36%, 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.
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Volatility by Period
| SWYAX | TRRFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.34% | 1.36% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.57% | 4.97% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.51% | 7.69% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.84% | 7.87% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.42% | 7.36% | +0.06% |
SWYAX vs. TRRFX - Expense Ratio Comparison
SWYAX has a 0.04% expense ratio, which is lower than TRRFX's 0.49% expense ratio.
Dividends
SWYAX vs. TRRFX - Dividend Comparison
SWYAX's dividend yield for the trailing twelve months is around 4.04%, while TRRFX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWYAX Schwab Target 2010 Index Fund | 4.04% | 4.17% | 3.79% | 2.85% | 2.69% | 2.54% | 1.98% | 2.27% | 2.01% | 1.18% | 0.75% | 0.00% |
TRRFX T. Rowe Price Retirement 2005 Fund | 0.00% | 0.00% | 3.87% | 4.24% | 10.43% | 10.54% | 8.55% | 3.65% | 6.97% | 4.25% | 1.28% | 1.69% |
Frequently Asked Questions
With a correlation of 0.92, SWYAX and TRRFX 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.
TRRFX has higher volatility (1.36%) compared to SWYAX (1.34%). In terms of maximum drawdown, SWYAX dropped -19.82% vs TRRFX's -33.29%.
SWYAX currently has the higher Sharpe Ratio (1.44 vs 0.41), 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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