FIRVX vs. SWDRX

Last updated Jul 17, 2026

FIRVX (Fidelity Managed Retirement 2020 Fund) and SWDRX (Schwab Target 2030 Fund) are both Target Retirement Date funds. With a 0.96 correlation, they move nearly in lockstep. FIRVX charges 0.47%/yr vs 0.00%/yr for SWDRX.

Performance

FIRVX vs. SWDRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2020 Fund (FIRVX) and Schwab Target 2030 Fund (SWDRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIRVX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SWDRX

• 1D: 0.39%
• 1M: 0.11%
• 6M: 4.78%
• YTD: 6.57%
• 1Y: 14.24%
• 3Y*: 12.20%
• 5Y*: 6.29%
• 10Y*: 8.43%

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

FIRVX vs. SWDRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIRVX Fidelity Managed Retirement 2020 Fund	1,440,933.92%	12.25%	5.86%	10.72%	-14.63%	6.77%	12.06%	16.19%	-4.45%	13.32%
SWDRX Schwab Target 2030 Fund	6.57%	14.87%	10.52%	16.38%	-17.00%	12.52%	13.49%	20.41%	-7.20%	17.55%

Correlation

The correlation between FIRVX and SWDRX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 31, 2007	0.96

The correlation between FIRVX and SWDRX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

FIRVX vs. SWDRX — Risk / Return Rank

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

FIRVX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SWDRX

SWDRX Risk / Return Rank: 63
SWDRX Sharpe Ratio Rank: 65
SWDRX Sortino Ratio Rank: 65
SWDRX Omega Ratio Rank: 63
SWDRX Calmar Ratio Rank: 57
SWDRX Martin Ratio Rank: 67

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.

FIRVX vs. SWDRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2020 Fund (FIRVX) and Schwab Target 2030 Fund (SWDRX). 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.

	FIRVX	SWDRX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.53	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.33	—
Martin ratio: Return relative to average drawdown	—	10.03	—

Drawdowns

Drawdown Indicators

	FIRVX	SWDRX	Difference
Max Drawdown Largest peak-to-trough decline	—	-45.34%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.27%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.17%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.17%	—
Current Drawdown Current decline from peak	—	-0.22%	—
Average Drawdown Average peak-to-trough decline	—	-6.45%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.46%	—

Volatility

Volatility by Period

	FIRVX	SWDRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	6.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	8.20%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	12.64%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	12.21%	—

FIRVX vs. SWDRX - Expense Ratio Comparison

FIRVX has a 0.47% expense ratio, which is higher than SWDRX's 0.00% expense ratio.

Dividends

FIRVX vs. SWDRX - Dividend Comparison

FIRVX's dividend yield for the trailing twelve months is around 102.77%, more than SWDRX's 7.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRVX Fidelity Managed Retirement 2020 Fund	102.77%	2.83%	2.74%	2.57%	3.52%	4.61%	3.74%	3.18%	6.90%	25.16%	2.28%	4.45%
SWDRX Schwab Target 2030 Fund	7.80%	8.31%	6.37%	4.28%	6.77%	6.92%	3.23%	6.60%	7.03%	4.86%	5.87%	9.35%

Frequently Asked Questions

Can I hold both FIRVX and SWDRX in my portfolio?

With a correlation of 0.91, FIRVX and SWDRX 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.