SWERX vs. DRIHX
Compare and contrast key facts about Schwab Target 2040 Fund (SWERX) and Dimensional 2040 Target Date Retirement Income Fund (DRIHX).
SWERX is managed by Charles Schwab. It was launched on Jun 30, 2005. DRIHX is managed by Dimensional. It was launched on Nov 1, 2015.
Performance
SWERX vs. DRIHX - Performance Comparison
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SWERX vs. DRIHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWERX Schwab Target 2040 Fund | -3.60% | 17.71% | 12.74% | 19.06% | -18.57% | 15.65% | 14.44% | 23.01% | -9.11% | 20.48% |
DRIHX Dimensional 2040 Target Date Retirement Income Fund | -2.79% | 14.48% | 11.11% | 16.06% | -16.20% | 16.54% | 12.73% | 22.12% | -7.66% | 19.53% |
Returns By Period
In the year-to-date period, SWERX achieves a -3.60% return, which is significantly lower than DRIHX's -2.79% return. Both investments have delivered pretty close results over the past 10 years, with SWERX having a 9.01% annualized return and DRIHX not far behind at 8.63%.
SWERX
- 1D
- -0.21%
- 1M
- -7.72%
- YTD
- -3.60%
- 6M
- -1.12%
- 1Y
- 13.92%
- 3Y*
- 12.66%
- 5Y*
- 6.63%
- 10Y*
- 9.01%
DRIHX
- 1D
- 0.20%
- 1M
- -6.57%
- YTD
- -2.79%
- 6M
- -0.99%
- 1Y
- 11.18%
- 3Y*
- 10.64%
- 5Y*
- 6.02%
- 10Y*
- 8.63%
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SWERX vs. DRIHX - Expense Ratio Comparison
SWERX has a 0.00% expense ratio, which is lower than DRIHX's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
SWERX vs. DRIHX — Risk / Return Rank
SWERX
DRIHX
SWERX vs. DRIHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2040 Fund (SWERX) and Dimensional 2040 Target Date Retirement Income Fund (DRIHX). 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.
| SWERX | DRIHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.07 | 1.00 | +0.07 |
Sortino ratioReturn per unit of downside risk | 1.56 | 1.46 | +0.09 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.22 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.19 | +0.15 |
Martin ratioReturn relative to average drawdown | 6.09 | 5.33 | +0.76 |
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
| SWERX | DRIHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.00 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.52 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.68 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.68 | -0.18 |
Correlation
The correlation between SWERX and DRIHX is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SWERX vs. DRIHX - Dividend Comparison
SWERX's dividend yield for the trailing twelve months is around 7.45%, more than DRIHX's 5.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWERX Schwab Target 2040 Fund | 7.45% | 7.19% | 5.00% | 3.83% | 8.31% | 6.96% | 3.33% | 7.69% | 8.57% | 4.13% | 6.76% | 10.85% |
DRIHX Dimensional 2040 Target Date Retirement Income Fund | 5.18% | 5.15% | 3.42% | 3.71% | 4.43% | 2.58% | 3.05% | 2.24% | 2.34% | 1.22% | 1.40% | 0.00% |
Drawdowns
SWERX vs. DRIHX - Drawdown Comparison
The maximum SWERX drawdown since its inception was -48.24%, which is greater than DRIHX's maximum drawdown of -27.96%. Use the drawdown chart below to compare losses from any high point for SWERX and DRIHX.
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Drawdown Indicators
| SWERX | DRIHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.24% | -27.96% | -20.28% |
Max Drawdown (1Y)Largest decline over 1 year | -9.38% | -8.81% | -0.57% |
Max Drawdown (5Y)Largest decline over 5 years | -30.40% | -22.51% | -7.89% |
Max Drawdown (10Y)Largest decline over 10 years | -30.40% | -27.96% | -2.44% |
Current DrawdownCurrent decline from peak | -8.08% | -6.78% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -7.20% | -4.13% | -3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 1.97% | +0.10% |
Volatility
SWERX vs. DRIHX - Volatility Comparison
Schwab Target 2040 Fund (SWERX) has a higher volatility of 4.18% compared to Dimensional 2040 Target Date Retirement Income Fund (DRIHX) at 3.69%. This indicates that SWERX's price experiences larger fluctuations and is considered to be riskier than DRIHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWERX | DRIHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 3.69% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 7.52% | 6.29% | +1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.11% | 11.72% | +1.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.93% | 11.57% | +3.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.81% | 12.78% | +2.03% |