SWYLX vs. SWYBX
SWYLX (Schwab Target 2020 Index Fund) and SWYBX (Schwab Target 2015 Index Fund) are both Target Retirement Date funds from Charles Schwab. Over the past 5 years, SWYLX returned 5.22%/yr vs 4.94%/yr for SWYBX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.04% expense ratio.
Performance
SWYLX vs. SWYBX - Performance Comparison
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Returns By Period
In the year-to-date period, SWYLX achieves a 5.34% return, which is significantly higher than SWYBX's 4.97% return.
SWYLX
- 1D
- -0.20%
- 1M
- 0.76%
- YTD
- 5.34%
- 6M
- 5.10%
- 1Y
- 13.19%
- 3Y*
- 10.79%
- 5Y*
- 5.22%
- 10Y*
- —
SWYBX
- 1D
- -0.14%
- 1M
- 0.78%
- YTD
- 4.97%
- 6M
- 4.72%
- 1Y
- 12.52%
- 3Y*
- 10.31%
- 5Y*
- 4.94%
- 10Y*
- —
SWYLX vs. SWYBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWYLX Schwab Target 2020 Index Fund | 5.34% | 12.23% | 8.03% | 13.15% | -13.79% | 8.06% | 11.04% | 16.21% | -3.08% | 12.11% |
SWYBX Schwab Target 2015 Index Fund | 4.97% | 11.88% | 7.59% | 12.68% | -13.59% | 7.67% | 10.93% | 14.99% | -2.59% | 9.85% |
Correlation
The correlation between SWYLX and SWYBX is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2016 | 0.99 |
The correlation between SWYLX and SWYBX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
SWYLX vs. SWYBX — Risk / Return Rank
SWYLX
SWYBX
SWYLX vs. SWYBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2020 Index Fund (SWYLX) and Schwab Target 2015 Index Fund (SWYBX). 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.
| SWYLX | SWYBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.42 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | 2.92 | +0.02 |
| Martin ratioReturn relative to average drawdown | 13.10 | 12.99 | +0.11 |
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Drawdowns
SWYLX vs. SWYBX - Drawdown Comparison
The maximum SWYLX drawdown since its inception was -20.63%, roughly equal to the maximum SWYBX drawdown of -20.49%. Use the drawdown chart below to compare losses from any high point for SWYLX and SWYBX.
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Drawdown Indicators
| SWYLX | SWYBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.63% | -20.49% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -4.48% | -0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -7.02% | -6.84% | -0.18% |
Max Drawdown (5Y)Largest decline over 5 years | -20.63% | -20.49% | -0.14% |
Current DrawdownCurrent decline from peak | -0.41% | -0.35% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -3.44% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.01% | +0.04% |
Volatility
SWYLX vs. SWYBX - Volatility Comparison
Schwab Target 2020 Index Fund (SWYLX) has a higher volatility of 2.44% compared to Schwab Target 2015 Index Fund (SWYBX) at 2.23%. This indicates that SWYLX's price experiences larger fluctuations and is considered to be riskier than SWYBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWYLX | SWYBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.44% | 2.23% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 5.19% | 4.86% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.30% | 5.94% | +0.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.50% | 8.20% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.26% | 7.84% | +0.42% |
SWYLX vs. SWYBX - Expense Ratio Comparison
Both SWYLX and SWYBX have an expense ratio of 0.04%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SWYLX vs. SWYBX - Dividend Comparison
SWYLX's dividend yield for the trailing twelve months is around 5.42%, more than SWYBX's 4.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
SWYBX Schwab Target 2015 Index Fund | 4.30% | 4.52% | 3.67% | 2.38% | 2.61% | 2.74% | 2.32% | 2.23% | 1.77% | 1.44% | 0.78% |
SWYLX Schwab Target 2020 Index Fund | 5.42% | 5.70% | 4.82% | 2.61% | 2.48% | 2.44% | 1.77% | 2.12% | 2.29% | 1.21% | 0.67% |
Frequently Asked Questions
With a correlation of 0.99, SWYLX and SWYBX 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.
SWYLX has higher volatility (2.44%) compared to SWYBX (2.23%). In terms of maximum drawdown, SWYLX dropped -20.63% vs SWYBX's -20.49%.
SWYBX currently has the higher Sharpe Ratio (2.21 vs 2.20), 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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