It’d be interesting to see a performance comparison of SwiftData vs. (objc?) CoreData vs. plain XML for large datasets. I recall plain XMLs being faster than CoreData a few years ago in certain scenarios.
The fact that it is built atop Core Data's persistent stores, cloud sync, etc. doesn't mean that it's a fascade in front of the Objective-C APIs.
Either use flat files (serialized json) to save and restore state, or just Sqlite directly.