SWYLX vs. IRTR

Last updated Jun 4, 2026

SWYLX (Schwab Target 2020 Index Fund) and IRTR (Ishares Lifepath Retirement ETF) are both Target Retirement Date funds. Over the past year, SWYLX returned 14.58% vs 14.08% for IRTR. With a 0.96 correlation, they move nearly in lockstep. SWYLX charges 0.04%/yr vs 0.08%/yr for IRTR.

Performance

SWYLX vs. IRTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Target 2020 Index Fund (SWYLX) and Ishares Lifepath Retirement ETF (IRTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWYLX achieves a 5.77% return, which is significantly higher than IRTR's 5.14% return.

SWYLX

• 1D: 0.14%
• 1M: 2.52%
• YTD: 5.77%
• 6M: 5.89%
• 1Y: 14.58%
• 3Y*: 11.09%
• 5Y*: 5.44%
• 10Y*: —

IRTR

• 1D: -0.41%
• 1M: 2.07%
• YTD: 5.14%
• 6M: 5.38%
• 1Y: 14.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SWYLX vs. IRTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SWYLX Schwab Target 2020 Index Fund	5.77%	12.23%	8.03%	10.46%
IRTR Ishares Lifepath Retirement ETF	5.14%	12.70%	7.59%	10.63%

Correlation

The correlation between SWYLX and IRTR is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (All Time) Calculated using the full available price history since Oct 20, 2023	0.96

The correlation between SWYLX and IRTR has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

SWYLX vs. IRTR - Sectors Allocation Comparison

Sectors	SWYLX	IRTR
Technology	27.8%	26.8%
Financial Services	14.2%	15.0%
Industrials	11.0%	12.6%
Consumer Cyclical	8.9%	9.0%
Real Estate	8.2%	3.5%
Communication Services	8.0%	8.0%
Healthcare	8.0%	7.7%
Consumer Defensive	4.7%	4.6%
Energy	3.9%	4.9%
Basic Materials	3.1%	3.8%
Utilities	2.4%	4.3%

Return for Risk

SWYLX vs. IRTR — Risk / Return Rank

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

SWYLX

SWYLX Risk / Return Rank: 74
SWYLX Sharpe Ratio Rank: 75
SWYLX Sortino Ratio Rank: 75
SWYLX Omega Ratio Rank: 74
SWYLX Calmar Ratio Rank: 68
SWYLX Martin Ratio Rank: 76

IRTR

IRTR Risk / Return Rank: 69
IRTR Sharpe Ratio Rank: 71
IRTR Sortino Ratio Rank: 75
IRTR Omega Ratio Rank: 75
IRTR Calmar Ratio Rank: 58
IRTR Martin Ratio Rank: 69

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.

SWYLX vs. IRTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2020 Index Fund (SWYLX) and Ishares Lifepath Retirement ETF (IRTR). 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.

	SWYLX	IRTR	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.36	+0.15
Sortino ratio: Return per unit of downside risk	3.62	3.43	+0.19
Omega ratio: Gain probability vs. loss probability	1.48	1.45	+0.03
Calmar ratio: Return relative to maximum drawdown	3.17	2.94	+0.23
Martin ratio: Return relative to average drawdown	14.35	12.92	+1.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWYLX vs. IRTR - Sharpe Ratio Comparison

The current SWYLX Sharpe Ratio is 2.51, which is comparable to the IRTR Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of SWYLX and IRTR, 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

	SWYLX	IRTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.36	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	2.01	-1.18

Drawdowns

SWYLX vs. IRTR - Drawdown Comparison

The maximum SWYLX drawdown since its inception was -20.63%, which is greater than IRTR's maximum drawdown of -6.29%. Use the drawdown chart below to compare losses from any high point for SWYLX and IRTR.

Drawdown Indicators

	SWYLX	IRTR	Difference
Max Drawdown Largest peak-to-trough decline	-20.63%	-6.29%	-14.34%
Max Drawdown (1Y) Largest decline over 1 year	-4.70%	-4.82%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-7.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.63%	—	—
Current Drawdown Current decline from peak	0.00%	-0.41%	+0.41%
Average Drawdown Average peak-to-trough decline	-3.48%	-0.78%	-2.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	1.09%	-0.05%

Volatility

SWYLX vs. IRTR - Volatility Comparison

The current volatility for Schwab Target 2020 Index Fund (SWYLX) is 2.01%, while Ishares Lifepath Retirement ETF (IRTR) has a volatility of 2.15%. This indicates that SWYLX experiences smaller price fluctuations and is considered to be less risky than IRTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWYLX	IRTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.01%	2.15%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	4.78%	4.85%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	5.94%	6.00%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.45%	7.04%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.25%	7.04%	+1.21%

SWYLX vs. IRTR - Expense Ratio Comparison

SWYLX has a 0.04% expense ratio, which is lower than IRTR's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SWYLX vs. IRTR - Dividend Comparison

SWYLX's dividend yield for the trailing twelve months is around 5.39%, more than IRTR's 2.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IRTR Ishares Lifepath Retirement ETF	2.99%	3.03%	3.03%	0.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWYLX Schwab Target 2020 Index Fund	5.39%	5.70%	4.82%	2.61%	2.48%	2.44%	1.77%	2.12%	2.29%	1.21%	0.67%

Frequently Asked Questions

Can I hold both SWYLX and IRTR in my portfolio?

With a correlation of 0.97, SWYLX and IRTR 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.

Which is riskier, SWYLX or IRTR?

IRTR has higher volatility (2.15%) compared to SWYLX (2.01%). In terms of maximum drawdown, SWYLX dropped -20.63% vs IRTR's -6.29%.

Which has better risk-adjusted returns?

SWYLX currently has the higher Sharpe Ratio (2.51 vs 2.36), 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.