SWQRX vs. SWYOX
SWQRX (Schwab Target 2065 Fund) and SWYOX (Schwab Target 2065 Index Fund) are both Target Retirement Date funds from Charles Schwab. Over the past 5 years, SWQRX returned 9.85%/yr vs 10.87%/yr for SWYOX. With a 0.98 correlation, they move nearly in lockstep. SWQRX charges 0.00%/yr vs 0.04%/yr for SWYOX.
Performance
SWQRX vs. SWYOX - Performance Comparison
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Returns By Period
In the year-to-date period, SWQRX achieves a 11.87% return, which is significantly lower than SWYOX's 12.72% return.
SWQRX
- 1D
- 1.19%
- 1M
- 1.54%
- YTD
- 11.87%
- 6M
- 11.60%
- 1Y
- 27.91%
- 3Y*
- 18.25%
- 5Y*
- 9.85%
- 10Y*
- —
SWYOX
- 1D
- 1.04%
- 1M
- 1.73%
- YTD
- 12.72%
- 6M
- 12.36%
- 1Y
- 28.63%
- 3Y*
- 18.96%
- 5Y*
- 10.87%
- 10Y*
- —
SWQRX vs. SWYOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SWQRX Schwab Target 2065 Fund | 11.87% | 20.95% | 14.36% | 21.21% | -20.23% | 15.97% |
SWYOX Schwab Target 2065 Index Fund | 12.72% | 20.48% | 14.95% | 21.61% | -17.90% | 16.04% |
Correlation
The correlation between SWQRX and SWYOX 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 Mar 8, 2021 | 0.98 |
The correlation between SWQRX and SWYOX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
SWQRX vs. SWYOX — Risk / Return Rank
SWQRX
SWYOX
SWQRX vs. SWYOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2065 Fund (SWQRX) and Schwab Target 2065 Index Fund (SWYOX). 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.
| SWQRX | SWYOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.40 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 3.11 | -0.30 |
| Martin ratioReturn relative to average drawdown | 12.22 | 13.61 | -1.39 |
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Drawdowns
SWQRX vs. SWYOX - Drawdown Comparison
The maximum SWQRX drawdown since its inception was -28.26%, which is greater than SWYOX's maximum drawdown of -26.02%. Use the drawdown chart below to compare losses from any high point for SWQRX and SWYOX.
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Drawdown Indicators
| SWQRX | SWYOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.26% | -26.02% | -2.24% |
Max Drawdown (1Y)Largest decline over 1 year | -9.80% | -9.13% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -16.02% | -16.05% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -28.26% | -26.02% | -2.24% |
Current DrawdownCurrent decline from peak | -0.41% | -0.42% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -6.62% | -5.68% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.24% | 2.08% | +0.16% |
Volatility
SWQRX vs. SWYOX - Volatility Comparison
Schwab Target 2065 Fund (SWQRX) and Schwab Target 2065 Index Fund (SWYOX) have volatilities of 5.21% and 4.98%, 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
| SWQRX | SWYOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 4.98% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 10.77% | 10.51% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.08% | 12.76% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 15.69% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.86% | 15.49% | +0.37% |
SWQRX vs. SWYOX - Expense Ratio Comparison
SWQRX has a 0.00% expense ratio, which is lower than SWYOX'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
SWQRX vs. SWYOX - Dividend Comparison
SWQRX's dividend yield for the trailing twelve months is around 2.83%, more than SWYOX's 1.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
SWQRX Schwab Target 2065 Fund | 2.83% | 3.16% | 2.92% | 3.31% | 5.00% | 2.69% |
SWYOX Schwab Target 2065 Index Fund | 1.66% | 1.87% | 1.76% | 1.82% | 1.80% | 1.24% |
Frequently Asked Questions
With a correlation of 0.99, SWQRX and SWYOX 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.
SWQRX has higher volatility (5.21%) compared to SWYOX (4.98%). In terms of maximum drawdown, SWQRX dropped -28.26% vs SWYOX's -26.02%.
SWYOX currently has the higher Sharpe Ratio (2.22 vs 2.10), 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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