SWYHX vs. ITDE

Last updated Jul 14, 2026

SWYHX (Schwab Target 2045 Index Fund) and ITDE (Ishares Lifepath Target Date 2045 ETF) are both Target Retirement Date funds. Over the past year, SWYHX returned 20.93% vs 20.12% for ITDE. With a 0.98 correlation, they move nearly in lockstep. SWYHX charges 0.04%/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

In the year-to-date period, SWYHX achieves a 11.10% return, which is significantly higher than ITDE's 9.85% return.

SWYHX

• 1D: 0.26%
• 1M: 0.99%
• 6M: 8.38%
• YTD: 11.10%
• 1Y: 20.93%
• 3Y*: 17.48%
• 5Y*: 9.17%
• 10Y*: —

ITDE

• 1D: -0.91%
• 1M: 0.10%
• 6M: 7.14%
• YTD: 9.85%
• 1Y: 20.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SWYHX vs. ITDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SWYHX Schwab Target 2045 Index Fund	11.10%	18.65%	13.72%	12.32%
ITDE Ishares Lifepath Target Date 2045 ETF	9.85%	19.34%	14.62%	13.21%

Correlation

The correlation between SWYHX and ITDE 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 (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 risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SWYHX

SWYHX Risk / Return Rank: 68
SWYHX Sharpe Ratio Rank: 67
SWYHX Sortino Ratio Rank: 65
SWYHX Omega Ratio Rank: 64
SWYHX Calmar Ratio Rank: 67
SWYHX Martin Ratio Rank: 77

ITDE

ITDE Risk / Return Rank: 67
ITDE Sharpe Ratio Rank: 68
ITDE Sortino Ratio Rank: 67
ITDE Omega Ratio Rank: 68
ITDE Calmar Ratio Rank: 60
ITDE Martin Ratio Rank: 71

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.

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	1.81	1.75	+0.06
Sortino ratio: Return per unit of downside risk	2.53	2.46	+0.07
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	2.51	2.39	+0.11
Martin ratio: Return relative to average drawdown	10.95	10.24	+0.71

SWYHX vs. ITDE - Sharpe Ratio Comparison

The current SWYHX Sharpe Ratio is 1.81, which is comparable to the ITDE Sharpe Ratio of 1.75. 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	-0.25%	-1.22%	+0.97%
Average Drawdown Average peak-to-trough decline	-4.34%	-1.41%	-2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.97%	-0.11%

Volatility

SWYHX vs. ITDE - Volatility Comparison

Schwab Target 2045 Index Fund (SWYHX) and Ishares Lifepath Target Date 2045 ETF (ITDE) have volatilities of 3.84% and 3.78%, 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.

Volatility by Period

	SWYHX	ITDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	3.78%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.34%	9.73%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	11.28%	11.59%	-0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.18%	12.96%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.01%	12.96%	+2.05%

SWYHX vs. ITDE - Expense Ratio Comparison

SWYHX has a 0.04% 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 1.87%, 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	1.87%	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?

SWYHX has higher volatility (3.84%) compared to ITDE (3.78%). In terms of maximum drawdown, SWYHX dropped -29.41% vs ITDE's -14.67%.

Which has better risk-adjusted returns?

SWYHX currently has the higher Sharpe Ratio (1.81 vs 1.75), 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.