SWMRX vs. SWYMX
SWMRX (Schwab Target 2045 Fund) and SWYMX (Schwab Target 2050 Index Fund) are both Target Retirement Date funds from Charles Schwab. Over the past 5 years, SWMRX returned 8.88%/yr vs 10.24%/yr for SWYMX. With a 0.98 correlation, they move nearly in lockstep. SWMRX charges 0.00%/yr vs 0.04%/yr for SWYMX.
Performance
SWMRX vs. SWYMX - Performance Comparison
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Returns By Period
In the year-to-date period, SWMRX achieves a 9.87% return, which is significantly lower than SWYMX's 11.75% return.
SWMRX
- 1D
- 1.03%
- 1M
- 1.28%
- YTD
- 9.87%
- 6M
- 9.67%
- 1Y
- 24.00%
- 3Y*
- 16.50%
- 5Y*
- 8.88%
- 10Y*
- 10.79%
SWYMX
- 1D
- 1.04%
- 1M
- 1.63%
- YTD
- 11.75%
- 6M
- 11.47%
- 1Y
- 26.72%
- 3Y*
- 17.93%
- 5Y*
- 10.24%
- 10Y*
- —
SWMRX vs. SWYMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWMRX Schwab Target 2045 Fund | 9.87% | 18.84% | 13.37% | 20.10% | -19.24% | 16.85% | 14.95% | 23.95% | -9.82% | 21.39% |
SWYMX Schwab Target 2050 Index Fund | 11.75% | 19.42% | 14.24% | 20.92% | -17.65% | 17.80% | 14.66% | 25.34% | -7.58% | 20.48% |
Correlation
The correlation between SWMRX and SWYMX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2016 | 0.98 |
The correlation between SWMRX and SWYMX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
SWMRX vs. SWYMX — Risk / Return Rank
SWMRX
SWYMX
SWMRX vs. SWYMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2045 Fund (SWMRX) and Schwab Target 2050 Index Fund (SWYMX). 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 | SWYMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.40 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 3.09 | -0.34 |
| Martin ratioReturn relative to average drawdown | 11.90 | 13.51 | -1.62 |
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Drawdowns
SWMRX vs. SWYMX - Drawdown Comparison
The maximum SWMRX drawdown since its inception was -30.41%, roughly equal to the maximum SWYMX drawdown of -30.48%. Use the drawdown chart below to compare losses from any high point for SWMRX and SWYMX.
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Drawdown Indicators
| SWMRX | SWYMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.41% | -30.48% | +0.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -8.55% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -14.20% | -14.95% | +0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -30.12% | -25.37% | -4.75% |
Max Drawdown (10Y)Largest decline over 10 years | -30.41% | — | — |
Current DrawdownCurrent decline from peak | -0.39% | -0.37% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -5.16% | -4.49% | -0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 1.95% | +0.04% |
Volatility
SWMRX vs. SWYMX - Volatility Comparison
Schwab Target 2045 Fund (SWMRX) and Schwab Target 2050 Index Fund (SWYMX) have volatilities of 4.52% and 4.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWMRX | SWYMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 4.64% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 9.39% | 9.77% | -0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.46% | 11.87% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.50% | 14.82% | +0.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 15.64% | -0.10% |
SWMRX vs. SWYMX - Expense Ratio Comparison
SWMRX has a 0.00% expense ratio, which is lower than SWYMX's 0.04% 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. SWYMX - Dividend Comparison
SWMRX's dividend yield for the trailing twelve months is around 4.71%, more than SWYMX's 1.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWMRX Schwab Target 2045 Fund | 4.71% | 5.18% | 3.14% | 2.98% | 7.88% | 5.18% | 2.45% | 5.46% | 6.63% | 2.79% | 5.28% | 5.76% |
SWYMX Schwab Target 2050 Index Fund | 1.79% | 2.00% | 2.03% | 1.99% | 1.96% | 1.78% | 1.65% | 1.96% | 2.15% | 1.43% | 1.22% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, SWMRX and SWYMX 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.
SWYMX has higher volatility (4.64%) compared to SWMRX (4.52%). In terms of maximum drawdown, SWMRX dropped -30.41% vs SWYMX's -30.48%.
SWYMX currently has the higher Sharpe Ratio (2.22 vs 2.07), 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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