SWMRX vs. TRRKX
SWMRX (Schwab Target 2045 Fund) and TRRKX (T. Rowe Price Retirement 2045 Fund - Investor Class) are both Target Retirement Date funds. Over the past 10 years, SWMRX returned 10.26%/yr vs 10.65%/yr for TRRKX. Their 0.96 correlation means they have historically moved very closely together. SWMRX charges 0.00%/yr vs 0.60%/yr for TRRKX.
Performance
SWMRX vs. TRRKX - Performance Comparison
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Returns By Period
In the year-to-date period, SWMRX achieves a 8.75% return, which is significantly lower than TRRKX's 10.46% return. Both investments have delivered pretty close results over the past 10 years, with SWMRX having a 10.26% annualized return and TRRKX not far ahead at 10.65%.
SWMRX
- 1D
- 1.60%
- 1M
- -0.44%
- 6M
- 5.76%
- YTD
- 8.75%
- 1Y
- 19.45%
- 3Y*
- 14.90%
- 5Y*
- 8.01%
- 10Y*
- 10.26%
- ALL TIME*
- 9.91%
TRRKX
- 1D
- 1.70%
- 1M
- -0.07%
- 6M
- 5.72%
- YTD
- 10.46%
- 1Y
- 17.15%
- 3Y*
- 14.14%
- 5Y*
- 7.44%
- 10Y*
- 10.65%
- ALL TIME*
- 8.65%
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. TRRKX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWMRX Schwab Target 2045 Fund | 8.75% | 18.84% | 13.37% | 20.10% | -19.24% | 16.85% | 14.95% | 23.95% | -9.82% | 21.39% |
TRRKX T. Rowe Price Retirement 2045 Fund - Investor Class | 10.46% | 14.20% | 13.94% | 20.52% | -19.03% | 15.80% | 18.64% | 25.41% | -7.66% | 22.42% |
Correlation
The correlation between SWMRX and TRRKX is 0.95 - 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. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2013 | 0.96 |
The correlation between SWMRX and TRRKX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.
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Return for Risk
SWMRX vs. TRRKX — Risk / Return Rank
SWMRX
TRRKX
SWMRX vs. TRRKX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2045 Fund (SWMRX) and T. Rowe Price Retirement 2045 Fund - Investor Class (TRRKX). 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 | TRRKX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 1.66 | +0.41 |
| Martin ratioReturn relative to average drawdown | 8.78 | 6.73 | +2.04 |
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Drawdowns
SWMRX vs. TRRKX - Drawdown Comparison
The maximum SWMRX drawdown since its inception was -30.41%, smaller than the maximum TRRKX drawdown of -53.54%. Use the drawdown chart below to compare losses from any high point for SWMRX and TRRKX.
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Drawdown Indicators
| SWMRX | TRRKX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.41% | -53.54% | +23.13% |
Max Drawdown (1Y)Largest decline over 1 year | -8.62% | -9.49% | +0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -14.20% | -15.16% | +0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -30.12% | -28.75% | -1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -30.41% | -32.48% | +2.07% |
Current DrawdownCurrent decline from peak | -1.40% | -0.95% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -5.13% | -7.17% | +2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.32% | -0.29% |
Volatility
SWMRX vs. TRRKX - Volatility Comparison
Schwab Target 2045 Fund (SWMRX) and T. Rowe Price Retirement 2045 Fund - Investor Class (TRRKX) have volatilities of 3.28% and 3.37%, 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 | TRRKX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 3.37% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.72% | 10.63% | -0.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.79% | 13.07% | -1.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.52% | 15.05% | +0.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.46% | 15.28% | +0.18% |
SWMRX vs. TRRKX - Expense Ratio Comparison
SWMRX has a 0.00% expense ratio, which is lower than TRRKX's 0.60% expense ratio.
Dividends
SWMRX vs. TRRKX - Dividend Comparison
SWMRX's dividend yield for the trailing twelve months is around 4.76%, while TRRKX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWMRX Schwab Target 2045 Fund | 4.76% | 5.18% | 3.14% | 2.98% | 7.88% | 5.18% | 2.45% | 5.46% | 6.63% | 2.79% | 5.28% | 5.76% |
TRRKX T. Rowe Price Retirement 2045 Fund - Investor Class | 0.00% | 0.00% | 1.96% | 4.40% | 7.83% | 5.58% | 4.52% | 5.94% | 8.98% | 3.52% | 3.20% | 4.25% |
Frequently Asked Questions
With a correlation of 0.95, SWMRX and TRRKX 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.
TRRKX has higher volatility (3.37%) compared to SWMRX (3.28%). In terms of maximum drawdown, SWMRX dropped -30.41% vs TRRKX's -53.54%.
SWMRX currently has the higher Sharpe Ratio (1.51 vs 1.21), 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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