SWYHX vs. ITDE

Last updated Aug 2, 2026

SWYHX (Schwab Target 2045 Index Fund) and ITDE (Ishares Lifepath Target Date 2045 ETF) are both Target Retirement Date funds. SWYHX is passively managed, while ITDE is actively managed. Over the past year, SWYHX returned 20.24% vs 20.66% for ITDE. Their 0.98 correlation means they have historically moved very closely together. SWYHX charges 0.08%/yr vs 0.11%/yr for ITDE.

Performance

SWYHX vs. ITDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Target 2045 Index Fund (SWYHX) and Ishares Lifepath Target Date 2045 ETF (ITDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with SWYHX having a 9.96% return and ITDE slightly lower at 9.91%.

SWYHX

• 1D: 1.57%
• 1M: -0.43%
• 6M: 7.23%
• YTD: 9.96%
• 1Y: 20.24%
• 3Y*: 15.63%
• 5Y*: 8.94%
• 10Y*: —
• ALL TIME*: 10.93%

ITDE

• 1D: 0.20%
• 1M: -0.25%
• 6M: 6.96%
• YTD: 9.91%
• 1Y: 20.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.07%

*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)
ITDE Ishares Lifepath Target Date 2045 ETF	$326.86K	$381.11K	$484.95K
SWYHX Schwab Target 2045 Index Fund	$0.00	$0.00	$0.00

SWYHX vs. ITDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SWYHX Schwab Target 2045 Index Fund	9.96%	18.65%	13.72%	12.32%
ITDE Ishares Lifepath Target Date 2045 ETF	9.91%	19.34%	14.62%	13.21%

Correlation

The correlation between SWYHX and ITDE is 0.99 - 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.	0.99
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023	0.98

The correlation between SWYHX and ITDE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

SWYHX vs. ITDE — Risk / Return Rank

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

SWYHX

SWYHX Risk / Return Rank: 73
SWYHX Sharpe Ratio Rank: 71
SWYHX Sortino Ratio Rank: 69
SWYHX Omega Ratio Rank: 69
SWYHX Calmar Ratio Rank: 72
SWYHX Martin Ratio Rank: 82

ITDE

ITDE Risk / Return Rank: 74
ITDE Sharpe Ratio Rank: 74
ITDE Sortino Ratio Rank: 74
ITDE Omega Ratio Rank: 74
ITDE Calmar Ratio Rank: 68
ITDE Martin Ratio Rank: 78

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.

SWYHX vs. ITDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2045 Index Fund (SWYHX) and Ishares Lifepath Target Date 2045 ETF (ITDE). 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.

	SWYHX	ITDE	Difference
Sharpe ratio: Return per unit of total volatility	1.62	1.68	-0.06
Sortino ratio: Return per unit of downside risk	2.29	2.38	-0.09
Omega ratio: Gain probability vs. loss probability	1.29	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	2.29	2.35	-0.06
Martin ratio: Return relative to average drawdown	9.89	9.92	-0.03

SWYHX vs. ITDE - Sharpe Ratio Comparison

The current SWYHX Sharpe Ratio is 1.62, which is comparable to the ITDE Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of SWYHX and ITDE, 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

SWYHX vs. ITDE - Drawdown Comparison

The maximum SWYHX drawdown since its inception was -29.41%, which is greater than ITDE's maximum drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for SWYHX and ITDE.

Drawdown Indicators

	SWYHX	ITDE	Difference
Max Drawdown Largest peak-to-trough decline	-29.41%	-14.67%	-14.74%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-8.44%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-14.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.92%	—	—
Current Drawdown Current decline from peak	-1.27%	-1.17%	-0.10%
Average Drawdown Average peak-to-trough decline	-4.33%	-1.41%	-2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.99%	-0.11%

Volatility

SWYHX vs. ITDE - Volatility Comparison

The current volatility for Schwab Target 2045 Index Fund (SWYHX) is 3.13%, while Ishares Lifepath Target Date 2045 ETF (ITDE) has a volatility of 3.37%. This indicates that SWYHX experiences smaller price fluctuations and is considered to be less risky than ITDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWYHX	ITDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	3.37%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	9.51%	9.91%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.50%	11.82%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.20%	12.93%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.99%	12.93%	+2.06%

SWYHX vs. ITDE - Expense Ratio Comparison

SWYHX has a 0.08% expense ratio, which is lower than ITDE's 0.11% 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

SWYHX vs. ITDE - Dividend Comparison

SWYHX's dividend yield for the trailing twelve months is around 1.89%, more than ITDE's 1.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ITDE Ishares Lifepath Target Date 2045 ETF	1.69%	1.86%	1.64%	0.87%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWYHX Schwab Target 2045 Index Fund	1.89%	2.08%	2.13%	2.02%	1.98%	1.80%	1.65%	1.96%	2.23%	1.42%	1.05%

Frequently Asked Questions

Can I hold both SWYHX and ITDE in my portfolio?

With a correlation of 0.99, SWYHX and ITDE 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.

Which is riskier, SWYHX or ITDE?

ITDE has higher volatility (3.37%) compared to SWYHX (3.13%). In terms of maximum drawdown, SWYHX dropped -29.41% vs ITDE's -14.67%.

Which has better risk-adjusted returns?

ITDE currently has the higher Sharpe Ratio (1.68 vs 1.62), 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.