SWMRX vs. FDFPX
SWMRX (Schwab Target 2045 Fund) and FDFPX (Fidelity Flex Freedom Blend 2065 Fund) are both Target Retirement Date funds. Over the past 5 years, SWMRX returned 8.07%/yr vs 10.78%/yr for FDFPX. Their 0.96 correlation means they have historically moved very closely together. Both charge a 0.00% expense ratio.
Performance
SWMRX vs. FDFPX - Performance Comparison
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Returns By Period
In the year-to-date period, SWMRX achieves a 9.07% return, which is significantly lower than FDFPX's 12.86% return.
SWMRX
- 1D
- 0.29%
- 1M
- -0.15%
- 6M
- 5.63%
- YTD
- 9.07%
- 1Y
- 19.80%
- 3Y*
- 15.22%
- 5Y*
- 8.07%
- 10Y*
- 10.36%
- ALL TIME*
- 9.93%
FDFPX
- 1D
- 0.53%
- 1M
- -0.47%
- 6M
- 8.34%
- YTD
- 12.86%
- 1Y
- 25.36%
- 3Y*
- 19.37%
- 5Y*
- 10.78%
- 10Y*
- —
- ALL TIME*
- 13.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SWMRX vs. FDFPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
SWMRX Schwab Target 2045 Fund | 9.07% | 18.84% | 13.37% | 20.10% | -19.24% | 16.85% | 14.95% | 8.02% |
FDFPX Fidelity Flex Freedom Blend 2065 Fund | 12.86% | 22.81% | 17.81% | 20.93% | -18.57% | 16.84% | 18.54% | 9.17% |
Correlation
The correlation between SWMRX and FDFPX is 0.99 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.99 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2019 | 0.96 |
The correlation between SWMRX and FDFPX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
SWMRX vs. FDFPX — Risk / Return Rank
SWMRX
FDFPX
SWMRX vs. FDFPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2045 Fund (SWMRX) and Fidelity Flex Freedom Blend 2065 Fund (FDFPX). 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.
| SWMRX | FDFPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.31 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.52 | -0.35 |
| Martin ratioReturn relative to average drawdown | 9.24 | 10.55 | -1.31 |
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Drawdowns
SWMRX vs. FDFPX - Drawdown Comparison
The maximum SWMRX drawdown since its inception was -30.41%, roughly equal to the maximum FDFPX drawdown of -31.22%. Use the drawdown chart below to compare losses from any high point for SWMRX and FDFPX.
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Drawdown Indicators
| SWMRX | FDFPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.41% | -31.22% | +0.81% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -9.54% | +0.92% |
Max Drawdown (3Y)Largest decline over 3 years | -14.20% | -15.42% | +1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -30.12% | -27.41% | -2.71% |
Max Drawdown (10Y)Largest decline over 10 years | -30.41% | — | — |
Current DrawdownCurrent decline from peak | -1.11% | -1.67% | +0.56% |
Average DrawdownAverage peak-to-trough decline | -5.12% | -5.76% | +0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.28% | -0.25% |
Volatility
SWMRX vs. FDFPX - Volatility Comparison
The current volatility for Schwab Target 2045 Fund (SWMRX) is 3.24%, while Fidelity Flex Freedom Blend 2065 Fund (FDFPX) has a volatility of 4.33%. This indicates that SWMRX experiences smaller price fluctuations and is considered to be less risky than FDFPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWMRX | FDFPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.24% | 4.33% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.72% | 12.20% | -2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.78% | 14.21% | -2.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.52% | 15.33% | +0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 17.20% | -1.74% |
SWMRX vs. FDFPX - Expense Ratio Comparison
SWMRX has a 0.00% expense ratio, which is lower than FDFPX's 0.00% 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%.
Dividends
SWMRX vs. FDFPX - Dividend Comparison
SWMRX's dividend yield for the trailing twelve months is around 4.75%, more than FDFPX's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDFPX Fidelity Flex Freedom Blend 2065 Fund | 3.79% | 2.87% | 6.56% | 2.22% | 5.41% | 8.52% | 5.38% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% |
SWMRX Schwab Target 2045 Fund | 4.75% | 5.18% | 3.14% | 2.98% | 7.88% | 5.18% | 2.45% | 5.46% | 6.63% | 2.79% | 5.28% | 5.76% |
Frequently Asked Questions
With a correlation of 0.99, SWMRX and FDFPX 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.
FDFPX has higher volatility (4.33%) compared to SWMRX (3.24%). In terms of maximum drawdown, SWMRX dropped -30.41% vs FDFPX's -31.22%.
FDFPX currently has the higher Sharpe Ratio (1.70 vs 1.59), 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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