SWMRX vs. FRAMX
Compare and contrast key facts about Schwab Target 2045 Fund (SWMRX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
SWMRX is managed by Charles Schwab. It was launched on Jan 22, 2013. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
SWMRX vs. FRAMX - Performance Comparison
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SWMRX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWMRX Schwab Target 2045 Fund | -3.79% | 18.84% | 13.37% | 20.10% | -19.24% | 16.85% | 14.95% | 23.95% | -9.82% | 21.39% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | -0.57% | 9.55% | 4.04% | 7.80% | -11.87% | 2.52% | 8.30% | 10.28% | -2.05% | 6.82% |
Returns By Period
In the year-to-date period, SWMRX achieves a -3.79% return, which is significantly lower than FRAMX's -0.57% return. Over the past 10 years, SWMRX has outperformed FRAMX with an annualized return of 9.44%, while FRAMX has yielded a comparatively lower 3.65% annualized return.
SWMRX
- 1D
- -0.22%
- 1M
- -8.20%
- YTD
- -3.79%
- 6M
- -1.16%
- 1Y
- 15.04%
- 3Y*
- 13.38%
- 5Y*
- 7.05%
- 10Y*
- 9.44%
FRAMX
- 1D
- 0.26%
- 1M
- -3.20%
- YTD
- -0.57%
- 6M
- 0.62%
- 1Y
- 6.78%
- 3Y*
- 5.66%
- 5Y*
- 2.13%
- 10Y*
- 3.65%
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SWMRX vs. FRAMX - Expense Ratio Comparison
SWMRX has a 0.00% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
SWMRX vs. FRAMX — Risk / Return Rank
SWMRX
FRAMX
SWMRX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2045 Fund (SWMRX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX). 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.
| SWMRX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.06 | 1.50 | -0.44 |
Sortino ratioReturn per unit of downside risk | 1.55 | 2.09 | -0.54 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.30 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.33 | 2.00 | -0.67 |
Martin ratioReturn relative to average drawdown | 6.07 | 8.06 | -1.99 |
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
| SWMRX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 1.50 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.41 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.82 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.49 | +0.13 |
Correlation
The correlation between SWMRX and FRAMX is 0.79, 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
SWMRX vs. FRAMX - Dividend Comparison
SWMRX's dividend yield for the trailing twelve months is around 5.38%, more than FRAMX's 2.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWMRX Schwab Target 2045 Fund | 5.38% | 5.18% | 3.14% | 2.98% | 7.88% | 5.18% | 2.45% | 5.46% | 6.63% | 2.79% | 5.28% | 5.76% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 2.91% | 2.77% | 2.77% | 2.58% | 4.26% | 3.31% | 2.23% | 2.37% | 4.40% | 8.26% | 1.42% | 1.42% |
Drawdowns
SWMRX vs. FRAMX - Drawdown Comparison
The maximum SWMRX drawdown since its inception was -30.41%, smaller than the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for SWMRX and FRAMX.
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Drawdown Indicators
| SWMRX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.41% | -33.94% | +3.53% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -3.45% | -6.72% |
Max Drawdown (5Y)Largest decline over 5 years | -30.12% | -16.31% | -13.81% |
Max Drawdown (10Y)Largest decline over 10 years | -30.41% | -16.31% | -14.10% |
Current DrawdownCurrent decline from peak | -8.62% | -3.20% | -5.42% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -3.87% | -1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 0.86% | +1.37% |
Volatility
SWMRX vs. FRAMX - Volatility Comparison
Schwab Target 2045 Fund (SWMRX) has a higher volatility of 4.53% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 1.96%. This indicates that SWMRX's price experiences larger fluctuations and is considered to be riskier than FRAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWMRX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 1.96% | +2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 2.86% | +5.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.24% | 4.59% | +9.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.34% | 5.21% | +10.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 4.47% | +10.99% |