SWYOX vs. ITDI

Last updated Jun 3, 2026

SWYOX (Schwab Target 2065 Index Fund) and ITDI (Ishares Lifepath Target Date 2065 ETF) are both Target Retirement Date funds. Over the past year, SWYOX returned 28.92% vs 30.48% for ITDI. With a 0.98 correlation, they move nearly in lockstep. SWYOX charges 0.04%/yr vs 0.11%/yr for ITDI.

Performance

SWYOX vs. ITDI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Target 2065 Index Fund (SWYOX) and Ishares Lifepath Target Date 2065 ETF (ITDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SWYOX having a 12.72% return and ITDI slightly higher at 13.03%.

SWYOX

• 1D: 0.24%
• 1M: 4.37%
• YTD: 12.72%
• 6M: 13.88%
• 1Y: 28.92%
• 3Y*: 20.09%
• 5Y*: 10.56%
• 10Y*: —

ITDI

• 1D: 0.44%
• 1M: 4.98%
• YTD: 13.03%
• 6M: 14.48%
• 1Y: 30.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SWYOX vs. ITDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SWYOX Schwab Target 2065 Index Fund	12.72%	20.48%	14.95%	13.90%
ITDI Ishares Lifepath Target Date 2065 ETF	13.03%	21.90%	16.73%	12.83%

Correlation

The correlation between SWYOX and ITDI 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 20, 2023	0.98

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

SWYOX vs. ITDI - Sectors Allocation Comparison

Sectors	SWYOX	ITDI
Technology	26.8%	26.8%
Financial Services	15.4%	16.1%
Industrials	11.3%	11.9%
Consumer Cyclical	8.9%	9.3%
Healthcare	7.8%	8.3%
Communication Services	7.5%	8.1%
Real Estate	7.3%	3.5%
Consumer Defensive	4.6%	4.8%
Energy	4.1%	4.3%
Basic Materials	3.8%	4.3%
Utilities	2.5%	2.6%

Return for Risk

SWYOX vs. ITDI — Risk / Return Rank

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

SWYOX

SWYOX Risk / Return Rank: 70
SWYOX Sharpe Ratio Rank: 72
SWYOX Sortino Ratio Rank: 66
SWYOX Omega Ratio Rank: 64
SWYOX Calmar Ratio Rank: 70
SWYOX Martin Ratio Rank: 77

ITDI

ITDI Risk / Return Rank: 71
ITDI Sharpe Ratio Rank: 72
ITDI Sortino Ratio Rank: 72
ITDI Omega Ratio Rank: 72
ITDI Calmar Ratio Rank: 64
ITDI Martin Ratio Rank: 74

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.

SWYOX vs. ITDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2065 Index Fund (SWYOX) and Ishares Lifepath Target Date 2065 ETF (ITDI). 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.

	SWYOX	ITDI	Difference
Sharpe ratio Return per unit of total volatility	2.47	2.40	+0.07
Sortino ratio Return per unit of downside risk	3.40	3.33	+0.08
Omega ratio Gain probability vs. loss probability	1.45	1.43	+0.01
Calmar ratio Return relative to maximum drawdown	3.23	3.24	0.00
Martin ratio Return relative to average drawdown	14.46	14.28	+0.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWYOX vs. ITDI - Sharpe Ratio Comparison

The current SWYOX Sharpe Ratio is 2.47, which is comparable to the ITDI Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of SWYOX and ITDI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SWYOX	ITDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.40	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	1.78	-1.00

Drawdowns

SWYOX vs. ITDI - Drawdown Comparison

The maximum SWYOX drawdown since its inception was -26.02%, which is greater than ITDI's maximum drawdown of -16.31%. Use the drawdown chart below to compare losses from any high point for SWYOX and ITDI.

Drawdown Indicators

	SWYOX	ITDI	Difference
Max Drawdown Largest peak-to-trough decline	-26.02%	-16.31%	-9.71%
Max Drawdown (1Y) Largest decline over 1 year	-9.13%	-9.60%	+0.47%
Max Drawdown (3Y) Largest decline over 3 years	-16.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.02%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.73%	-1.57%	-4.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.18%	-0.14%

Volatility

SWYOX vs. ITDI - Volatility Comparison

The current volatility for Schwab Target 2065 Index Fund (SWYOX) is 3.62%, while Ishares Lifepath Target Date 2065 ETF (ITDI) has a volatility of 3.88%. This indicates that SWYOX experiences smaller price fluctuations and is considered to be less risky than ITDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWYOX	ITDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	3.88%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	10.28%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	12.13%	12.78%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	14.49%	+1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.44%	14.49%	+0.95%

SWYOX vs. ITDI - Expense Ratio Comparison

SWYOX has a 0.04% expense ratio, which is lower than ITDI'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

SWYOX vs. ITDI - Dividend Comparison

SWYOX's dividend yield for the trailing twelve months is around 1.66%, more than ITDI's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021
ITDI Ishares Lifepath Target Date 2065 ETF	1.44%	1.63%	1.68%	0.84%	0.00%	0.00%
SWYOX Schwab Target 2065 Index Fund	1.66%	1.87%	1.76%	1.82%	1.80%	1.24%

Frequently Asked Questions

Can I hold both SWYOX and ITDI in my portfolio?

With a correlation of 0.99, SWYOX and ITDI 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, SWYOX or ITDI?

ITDI has higher volatility (3.88%) compared to SWYOX (3.62%). In terms of maximum drawdown, SWYOX dropped -26.02% vs ITDI's -16.31%.

Which has better risk-adjusted returns?

SWYOX currently has the higher Sharpe Ratio (2.47 vs 2.40), 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.