TRRBX vs. SWYDX
TRRBX (T. Rowe Price Retirement 2020 Fund) and SWYDX (Schwab Target 2025 Index Fund) are both Target Retirement Date funds. Over the past 5 years, TRRBX returned 4.42%/yr vs 5.79%/yr for SWYDX. Their correlation of 0.95 suggests significant overlap in exposure. TRRBX charges 0.53%/yr vs 0.04%/yr for SWYDX.
Performance
TRRBX vs. SWYDX - Performance Comparison
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Returns By Period
In the year-to-date period, TRRBX achieves a 6.59% return, which is significantly higher than SWYDX's 6.06% return.
TRRBX
- 1D
- 0.29%
- 1M
- 2.63%
- YTD
- 6.59%
- 6M
- 0.77%
- 1Y
- 8.85%
- 3Y*
- 9.79%
- 5Y*
- 4.42%
- 10Y*
- 7.18%
SWYDX
- 1D
- 0.12%
- 1M
- 2.65%
- YTD
- 6.06%
- 6M
- 6.19%
- 1Y
- 15.10%
- 3Y*
- 11.70%
- 5Y*
- 5.79%
- 10Y*
- —
TRRBX vs. SWYDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRBX T. Rowe Price Retirement 2020 Fund | 6.59% | 6.07% | 9.17% | 13.51% | -14.58% | 10.60% | 13.18% | 19.39% | -5.01% | 15.75% |
SWYDX Schwab Target 2025 Index Fund | 6.06% | 12.60% | 8.62% | 14.47% | -14.78% | 10.24% | 12.37% | 18.89% | -6.38% | 14.53% |
Correlation
The correlation between TRRBX and SWYDX is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2016 | 0.95 |
The correlation between TRRBX and SWYDX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
TRRBX vs. SWYDX — Risk / Return Rank
TRRBX
SWYDX
TRRBX vs. SWYDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2020 Fund (TRRBX) and Schwab Target 2025 Index Fund (SWYDX). 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.
| TRRBX | SWYDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.49 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 3.12 | -1.92 |
| Martin ratioReturn relative to average drawdown | 3.48 | 14.04 | -10.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TRRBX | SWYDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 2.51 | -1.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.63 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.76 | -0.14 |
Drawdowns
TRRBX vs. SWYDX - Drawdown Comparison
The maximum TRRBX drawdown since its inception was -47.04%, which is greater than SWYDX's maximum drawdown of -20.49%. Use the drawdown chart below to compare losses from any high point for TRRBX and SWYDX.
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Drawdown Indicators
| TRRBX | SWYDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.04% | -20.49% | -26.55% |
Max Drawdown (1Y)Largest decline over 1 year | -7.68% | -4.94% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -8.24% | -7.56% | -0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -20.54% | -20.43% | -0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -23.90% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -3.43% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 1.09% | +1.52% |
Volatility
TRRBX vs. SWYDX - Volatility Comparison
T. Rowe Price Retirement 2020 Fund (TRRBX) and Schwab Target 2025 Index Fund (SWYDX) have volatilities of 2.11% and 2.10%, 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
| TRRBX | SWYDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 2.10% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 7.67% | 4.94% | +2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.46% | 6.15% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.20% | 9.20% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.67% | 9.82% | -0.15% |
TRRBX vs. SWYDX - Expense Ratio Comparison
TRRBX has a 0.53% expense ratio, which is higher than SWYDX's 0.04% expense ratio.
Dividends
TRRBX vs. SWYDX - Dividend Comparison
TRRBX has not paid dividends to shareholders, while SWYDX's dividend yield for the trailing twelve months is around 5.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWYDX Schwab Target 2025 Index Fund | 5.06% | 5.37% | 3.41% | 2.58% | 2.32% | 1.92% | 1.79% | 1.91% | 0.00% | 1.33% | 0.79% | 0.00% |
TRRBX T. Rowe Price Retirement 2020 Fund | 0.00% | 0.00% | 4.28% | 6.78% | 13.33% | 12.99% | 9.80% | 5.52% | 9.63% | 4.79% | 1.76% | 2.92% |
Frequently Asked Questions
With a correlation of 0.94, TRRBX and SWYDX 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.
TRRBX has higher volatility (2.11%) compared to SWYDX (2.10%). In terms of maximum drawdown, TRRBX dropped -47.04% vs SWYDX's -20.49%.
SWYDX currently has the higher Sharpe Ratio (2.51 vs 1.09), 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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