SWYGX vs. FDVLX

Last updated Jun 23, 2026

SWYGX (Schwab Target 2040 Index Fund) and FDVLX (Fidelity Value Fund) are both mutual funds - SWYGX is a Target Retirement Date fund managed by Charles Schwab, while FDVLX is a Mid Cap Value Equities fund managed by Fidelity. Over the past 5 years, SWYGX returned 9.08%/yr vs 15.68%/yr for FDVLX. Their correlation of 0.84 suggests significant overlap in exposure. SWYGX charges 0.04%/yr vs 0.79%/yr for FDVLX.

Performance

SWYGX vs. FDVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Target 2040 Index Fund (SWYGX) and Fidelity Value Fund (FDVLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWYGX achieves a 10.03% return, which is significantly lower than FDVLX's 19.81% return.

SWYGX

• 1D: 0.91%
• 1M: 1.47%
• YTD: 10.03%
• 6M: 9.80%
• 1Y: 23.24%
• 3Y*: 16.09%
• 5Y*: 9.08%
• 10Y*: —

FDVLX

• 1D: 1.29%
• 1M: 4.43%
• YTD: 19.81%
• 6M: 18.35%
• 1Y: 36.79%
• 3Y*: 25.63%
• 5Y*: 15.68%
• 10Y*: 14.32%

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

SWYGX vs. FDVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWYGX Schwab Target 2040 Index Fund	10.03%	17.57%	12.83%	19.45%	-16.94%	15.68%	14.19%	23.63%	-6.62%	19.12%
FDVLX Fidelity Value Fund	19.81%	11.32%	30.11%	19.57%	-9.07%	35.30%	9.33%	31.68%	-17.58%	14.11%

Correlation

The correlation between SWYGX and FDVLX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Aug 30, 2016	0.84

The correlation between SWYGX and FDVLX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

SWYGX vs. FDVLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SWYGX

SWYGX Risk / Return Rank: 69
SWYGX Sharpe Ratio Rank: 69
SWYGX Sortino Ratio Rank: 66
SWYGX Omega Ratio Rank: 65
SWYGX Calmar Ratio Rank: 69
SWYGX Martin Ratio Rank: 77

FDVLX

FDVLX Risk / Return Rank: 74
FDVLX Sharpe Ratio Rank: 71
FDVLX Sortino Ratio Rank: 72
FDVLX Omega Ratio Rank: 60
FDVLX Calmar Ratio Rank: 84
FDVLX Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SWYGX vs. FDVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2040 Index Fund (SWYGX) and Fidelity Value Fund (FDVLX). 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.

	SWYGX	FDVLX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.26	-0.04
Sortino ratio: Return per unit of downside risk	3.09	3.22	-0.13
Omega ratio: Gain probability vs. loss probability	1.41	1.39	+0.02
Calmar ratio: Return relative to maximum drawdown	3.07	3.76	-0.70
Martin ratio: Return relative to average drawdown	13.49	13.80	-0.31

SWYGX vs. FDVLX - Sharpe Ratio Comparison

The current SWYGX Sharpe Ratio is 2.22, which is comparable to the FDVLX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of SWYGX and FDVLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SWYGX vs. FDVLX - Drawdown Comparison

The maximum SWYGX drawdown since its inception was -27.62%, smaller than the maximum FDVLX drawdown of -66.91%. Use the drawdown chart below to compare losses from any high point for SWYGX and FDVLX.

Drawdown Indicators

	SWYGX	FDVLX	Difference
Max Drawdown Largest peak-to-trough decline	-27.62%	-66.91%	+39.29%
Max Drawdown (1Y) Largest decline over 1 year	-7.50%	-9.90%	+2.40%
Max Drawdown (3Y) Largest decline over 3 years	-12.96%	-31.45%	+18.49%
Max Drawdown (5Y) Largest decline over 5 years	-24.07%	-31.45%	+7.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-48.66%	—
Current Drawdown Current decline from peak	-0.31%	-0.48%	+0.17%
Average Drawdown Average peak-to-trough decline	-4.16%	-9.02%	+4.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	2.70%	-1.00%

Volatility

SWYGX vs. FDVLX - Volatility Comparison

The current volatility for Schwab Target 2040 Index Fund (SWYGX) is 4.09%, while Fidelity Value Fund (FDVLX) has a volatility of 5.19%. This indicates that SWYGX experiences smaller price fluctuations and is considered to be less risky than FDVLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWYGX	FDVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	5.19%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	8.54%	11.97%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	10.36%	16.51%	-6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.26%	26.58%	-13.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.04%	25.21%	-11.17%

SWYGX vs. FDVLX - Expense Ratio Comparison

SWYGX has a 0.04% expense ratio, which is lower than FDVLX's 0.79% expense ratio.

Dividends

SWYGX vs. FDVLX - Dividend Comparison

SWYGX's dividend yield for the trailing twelve months is around 2.03%, less than FDVLX's 8.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDVLX Fidelity Value Fund	8.39%	10.05%	33.05%	3.71%	7.08%	9.79%	0.98%	3.34%	16.25%	3.38%	1.26%	10.97%
SWYGX Schwab Target 2040 Index Fund	2.03%	2.23%	2.28%	2.06%	2.03%	1.80%	1.72%	1.95%	2.21%	1.44%	1.13%	0.00%

Frequently Asked Questions

Can I hold both SWYGX and FDVLX in my portfolio?

SWYGX and FDVLX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWYGX or FDVLX?

FDVLX has higher volatility (5.19%) compared to SWYGX (4.09%). In terms of maximum drawdown, SWYGX dropped -27.62% vs FDVLX's -66.91%.

Which has better risk-adjusted returns?

FDVLX currently has the higher Sharpe Ratio (2.26 vs 2.22), 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.