SWYBX vs. SWPPX

Last updated Jun 4, 2026

SWYBX (Schwab Target 2015 Index Fund) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - SWYBX is a Target Retirement Date fund managed by Charles Schwab, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 5 years, SWYBX returned 5.14%/yr vs 14.26%/yr for SWPPX. Their correlation of 0.87 suggests significant overlap in exposure. SWYBX charges 0.04%/yr vs 0.02%/yr for SWPPX.

Performance

SWYBX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Target 2015 Index Fund (SWYBX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWYBX achieves a 5.34% return, which is significantly lower than SWPPX's 11.69% return.

SWYBX

• 1D: 0.14%
• 1M: 2.38%
• YTD: 5.34%
• 6M: 5.46%
• 1Y: 13.87%
• 3Y*: 10.59%
• 5Y*: 5.14%
• 10Y*: —

SWPPX

• 1D: 0.15%
• 1M: 5.83%
• YTD: 11.69%
• 6M: 11.71%
• 1Y: 28.97%
• 3Y*: 22.73%
• 5Y*: 14.26%
• 10Y*: 15.63%

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

SWYBX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWYBX Schwab Target 2015 Index Fund	5.34%	11.88%	7.59%	12.68%	-13.59%	7.67%	10.93%	14.99%	-2.59%	9.85%
SWPPX Schwab S&P 500 Index Fund	11.69%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between SWYBX and SWPPX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 31, 2016	0.87

The correlation between SWYBX and SWPPX has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

SWYBX vs. SWPPX - Sectors Allocation Comparison

Sectors	SWYBX	SWPPX
Technology	27.9%	35.6%
Financial Services	14.1%	11.8%
Industrials	10.9%	8.3%
Consumer Cyclical	8.9%	10.1%
Real Estate	8.2%	1.9%
Communication Services	8.1%	11.2%
Healthcare	8.0%	8.5%
Consumer Defensive	4.7%	4.9%
Energy	3.8%	3.5%
Basic Materials	3.1%	1.8%
Utilities	2.4%	2.4%

Return for Risk

SWYBX vs. SWPPX — Risk / Return Rank

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

SWYBX

SWYBX Risk / Return Rank: 73
SWYBX Sharpe Ratio Rank: 75
SWYBX Sortino Ratio Rank: 75
SWYBX Omega Ratio Rank: 73
SWYBX Calmar Ratio Rank: 66
SWYBX Martin Ratio Rank: 75

SWPPX

SWPPX Risk / Return Rank: 73
SWPPX Sharpe Ratio Rank: 75
SWPPX Sortino Ratio Rank: 67
SWPPX Omega Ratio Rank: 67
SWPPX Calmar Ratio Rank: 74
SWPPX Martin Ratio Rank: 83

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.

SWYBX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2015 Index Fund (SWYBX) and Schwab S&P 500 Index Fund (SWPPX). 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.

	SWYBX	SWPPX	Difference
Sharpe ratio Return per unit of total volatility	2.50	2.52	-0.01
Sortino ratio Return per unit of downside risk	3.64	3.41	+0.23
Omega ratio Gain probability vs. loss probability	1.49	1.46	+0.03
Calmar ratio Return relative to maximum drawdown	3.15	3.36	-0.21
Martin ratio Return relative to average drawdown	14.23	15.67	-1.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWYBX vs. SWPPX - Sharpe Ratio Comparison

The current SWYBX Sharpe Ratio is 2.50, which is comparable to the SWPPX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of SWYBX and SWPPX, 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

	SWYBX	SWPPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	2.52	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.85	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.51	+0.29

Drawdowns

SWYBX vs. SWPPX - Drawdown Comparison

The maximum SWYBX drawdown since its inception was -20.49%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for SWYBX and SWPPX.

Drawdown Indicators

	SWYBX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-20.49%	-55.06%	+34.57%
Max Drawdown (1Y) Largest decline over 1 year	-4.48%	-8.89%	+4.41%
Max Drawdown (3Y) Largest decline over 3 years	-6.84%	-18.74%	+11.90%
Max Drawdown (5Y) Largest decline over 5 years	-20.49%	-24.51%	+4.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.46%	-9.95%	+6.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	1.90%	-0.91%

Volatility

SWYBX vs. SWPPX - Volatility Comparison

The current volatility for Schwab Target 2015 Index Fund (SWYBX) is 1.95%, while Schwab S&P 500 Index Fund (SWPPX) has a volatility of 2.83%. This indicates that SWYBX experiences smaller price fluctuations and is considered to be less risky than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWYBX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	2.83%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	4.49%	8.98%	-4.49%
Volatility (1Y) Calculated over the trailing 1-year period	5.63%	11.87%	-6.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.16%	16.93%	-8.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.84%	18.23%	-10.39%

SWYBX vs. SWPPX - Expense Ratio Comparison

SWYBX has a 0.04% expense ratio, which is higher than SWPPX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SWYBX vs. SWPPX - Dividend Comparison

SWYBX's dividend yield for the trailing twelve months is around 4.29%, more than SWPPX's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWPPX Schwab S&P 500 Index Fund	0.99%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%
SWYBX Schwab Target 2015 Index Fund	4.29%	4.52%	3.67%	2.38%	2.61%	2.74%	2.32%	2.23%	1.77%	1.44%	0.78%	0.00%

Frequently Asked Questions

Can I hold both SWYBX and SWPPX in my portfolio?

SWYBX and SWPPX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWYBX or SWPPX?

SWPPX has higher volatility (2.83%) compared to SWYBX (1.95%). In terms of maximum drawdown, SWYBX dropped -20.49% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.52 vs 2.50), 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.