SWYBX vs. FRQHX

Last updated Aug 2, 2026

SWYBX (Schwab Target 2015 Index Fund) and FRQHX (Fidelity Managed Retirement 2010 Fund Class K6) are both Target Retirement Date funds. Their correlation of 0.89 means they have usually moved in the same direction. SWYBX charges 0.04%/yr vs 0.26%/yr for FRQHX.

Performance

SWYBX vs. FRQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Target 2015 Index Fund (SWYBX) and Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SWYBX

• 1D: 0.71%
• 1M: -0.56%
• 6M: 3.30%
• YTD: 4.45%
• 1Y: 9.96%
• 3Y*: 9.32%
• 5Y*: 4.48%
• 10Y*: —
• ALL TIME*: 6.07%

FRQHX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SWYBX Schwab Target 2015 Index Fund	$0.00	$0.00	$0.00

SWYBX vs. FRQHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SWYBX Schwab Target 2015 Index Fund	4.45%	11.88%	7.59%	12.68%	-13.59%	7.67%	10.93%	4.49%
FRQHX Fidelity Managed Retirement 2010 Fund Class K6	3.71%	10.01%	4.68%	8.75%	-12.22%	4.04%	9.80%	3.95%

Correlation

The correlation between SWYBX and FRQHX is 0.87, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.89

The correlation between SWYBX and FRQHX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

SWYBX vs. FRQHX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SWYBX

SWYBX Risk / Return Rank: 69
SWYBX Sharpe Ratio Rank: 67
SWYBX Sortino Ratio Rank: 68
SWYBX Omega Ratio Rank: 67
SWYBX Calmar Ratio Rank: 64
SWYBX Martin Ratio Rank: 76

FRQHX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SWYBX vs. FRQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2015 Index Fund (SWYBX) and Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX). 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.

	SWYBX	FRQHX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	—	—
Sortino ratio: Return per unit of downside risk	2.34	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.18	—	—
Martin ratio: Return relative to average drawdown	9.43	—	—

Drawdowns

Drawdown Indicators

	SWYBX	FRQHX	Difference
Max Drawdown Largest peak-to-trough decline	-20.49%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.48%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.37%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.49%	—	—
Current Drawdown Current decline from peak	-0.91%	—	—
Average Drawdown Average peak-to-trough decline	-3.41%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	—	—

Volatility

Volatility by Period

	SWYBX	FRQHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.01%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.22%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.82%	—	—

SWYBX vs. FRQHX - Expense Ratio Comparison

SWYBX has a 0.04% expense ratio, which is lower than FRQHX's 0.26% 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

SWYBX vs. FRQHX - Dividend Comparison

SWYBX's dividend yield for the trailing twelve months is around 4.33%, more than FRQHX's 3.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FRQHX Fidelity Managed Retirement 2010 Fund Class K6	2.93%	3.20%	3.20%	2.95%	5.25%	6.22%	3.70%	2.57%	0.00%	0.00%	0.00%
SWYBX Schwab Target 2015 Index Fund	4.33%	4.52%	3.67%	2.38%	2.61%	2.74%	2.32%	2.23%	1.77%	1.44%	0.78%

Frequently Asked Questions

Can I hold both SWYBX and FRQHX in my portfolio?

SWYBX and FRQHX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.