TTMIX vs. SCHZ

Last updated Jun 25, 2026

TTMIX (T. Rowe Price Total Return Fund Class I) and SCHZ (Schwab U.S. Aggregate Bond ETF) are both funds - TTMIX is a Global Allocation fund managed by T. Rowe Price, while SCHZ is a Total Bond Market fund tracking the Bloomberg US Aggregate Bond Index. Over the past 10 years, TTMIX returned 14.57%/yr vs 1.54%/yr for SCHZ. At a 0.12 correlation, their price movements are largely independent. TTMIX charges 0.37%/yr vs 0.03%/yr for SCHZ.

Performance

TTMIX vs. SCHZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Total Return Fund Class I (TTMIX) and Schwab U.S. Aggregate Bond ETF (SCHZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TTMIX achieves a -1.61% return, which is significantly lower than SCHZ's 0.95% return. Over the past 10 years, TTMIX has outperformed SCHZ with an annualized return of 14.57%, while SCHZ has yielded a comparatively lower 1.54% annualized return.

TTMIX

• 1D: -1.83%
• 1M: -3.56%
• YTD: -1.61%
• 6M: -2.38%
• 1Y: -3.82%
• 3Y*: 18.40%
• 5Y*: 3.36%
• 10Y*: 14.57%

SCHZ

• 1D: 0.48%
• 1M: 1.18%
• YTD: 0.95%
• 6M: 0.82%
• 1Y: 4.38%
• 3Y*: 4.09%
• 5Y*: 0.17%
• 10Y*: 1.54%

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

TTMIX vs. SCHZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TTMIX T. Rowe Price Total Return Fund Class I	-1.61%	6.97%	38.33%	39.41%	-40.85%	9.92%	53.86%	35.84%	-1.73%	33.14%
SCHZ Schwab U.S. Aggregate Bond ETF	0.95%	7.24%	1.26%	5.60%	-13.17%	-1.72%	7.46%	8.65%	-0.26%	3.50%

Correlation

The correlation between TTMIX and SCHZ is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Mar 28, 2016	0.12

The correlation between TTMIX and SCHZ shifts across timeframes, from 0.12 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TTMIX vs. SCHZ — Risk / Return Rank

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

TTMIX

TTMIX Risk / Return Rank: 2
TTMIX Sharpe Ratio Rank: 2
TTMIX Sortino Ratio Rank: 2
TTMIX Omega Ratio Rank: 2
TTMIX Calmar Ratio Rank: 2
TTMIX Martin Ratio Rank: 2

SCHZ

SCHZ Risk / Return Rank: 34
SCHZ Sharpe Ratio Rank: 35
SCHZ Sortino Ratio Rank: 36
SCHZ Omega Ratio Rank: 32
SCHZ Calmar Ratio Rank: 35
SCHZ Martin Ratio Rank: 34

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.

TTMIX vs. SCHZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Total Return Fund Class I (TTMIX) and Schwab U.S. Aggregate Bond ETF (SCHZ). 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.

	TTMIX	SCHZ	Difference
Sharpe ratio: Return per unit of total volatility	-0.14	1.17	-1.31
Sortino ratio: Return per unit of downside risk	-0.08	1.75	-1.84
Omega ratio: Gain probability vs. loss probability	0.99	1.20	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.12	1.63	-1.75
Martin ratio: Return relative to average drawdown	-0.29	4.68	-4.97

TTMIX vs. SCHZ - Sharpe Ratio Comparison

The current TTMIX Sharpe Ratio is -0.14, which is lower than the SCHZ Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of TTMIX and SCHZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TTMIX vs. SCHZ - Drawdown Comparison

The maximum TTMIX drawdown since its inception was -47.11%, which is greater than SCHZ's maximum drawdown of -18.74%. Use the drawdown chart below to compare losses from any high point for TTMIX and SCHZ.

Drawdown Indicators

	TTMIX	SCHZ	Difference
Max Drawdown Largest peak-to-trough decline	-47.11%	-18.74%	-28.37%
Max Drawdown (1Y) Largest decline over 1 year	-17.25%	-2.70%	-14.55%
Max Drawdown (3Y) Largest decline over 3 years	-20.68%	-6.18%	-14.50%
Max Drawdown (5Y) Largest decline over 5 years	-47.11%	-18.01%	-29.10%
Max Drawdown (10Y) Largest decline over 10 years	-47.11%	-18.74%	-28.37%
Current Drawdown Current decline from peak	-9.34%	-1.83%	-7.51%
Average Drawdown Average peak-to-trough decline	-10.26%	-3.68%	-6.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.38%	0.94%	+6.44%

Volatility

TTMIX vs. SCHZ - Volatility Comparison

T. Rowe Price Total Return Fund Class I (TTMIX) has a higher volatility of 6.82% compared to Schwab U.S. Aggregate Bond ETF (SCHZ) at 1.23%. This indicates that TTMIX's price experiences larger fluctuations and is considered to be riskier than SCHZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TTMIX	SCHZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.82%	1.23%	+5.59%
Volatility (6M) Calculated over the trailing 6-month period	12.45%	2.82%	+9.63%
Volatility (1Y) Calculated over the trailing 1-year period	15.71%	3.77%	+11.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.36%	6.10%	+15.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.78%	5.42%	+15.36%

TTMIX vs. SCHZ - Expense Ratio Comparison

TTMIX has a 0.37% expense ratio, which is higher than SCHZ's 0.03% expense ratio.

Dividends

TTMIX vs. SCHZ - Dividend Comparison

TTMIX's dividend yield for the trailing twelve months is around 25.69%, more than SCHZ's 4.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHZ Schwab U.S. Aggregate Bond ETF	4.09%	4.05%	3.96%	3.28%	2.63%	2.16%	2.43%	2.79%	2.56%	2.40%	2.24%	2.11%
TTMIX T. Rowe Price Total Return Fund Class I	25.69%	25.27%	7.45%	7.80%	17.43%	8.53%	5.27%	2.44%	1.41%	2.47%	2.23%	0.00%

Frequently Asked Questions

Can I hold both TTMIX and SCHZ in my portfolio?

TTMIX and SCHZ have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TTMIX or SCHZ?

TTMIX has higher volatility (6.82%) compared to SCHZ (1.23%). In terms of maximum drawdown, TTMIX dropped -47.11% vs SCHZ's -18.74%.

Which has better risk-adjusted returns?

SCHZ currently has the higher Sharpe Ratio (1.17 vs -0.14), 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.