# Schwab Target 2040 Index Fund Institutional Shares (SWYGX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/swygx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Schwab · Asset class: — - Strategy: Thematic · Inception: 2016-08-25 The fund aims to achieve its financial objectives by primarily allocating its capital to Schwab's affiliated exchange-traded funds (ETFs). Under typical conditions, it maintains a mandate to invest a minimum of 80% of its total assets (comprising net assets and any funds borrowed for investment) into constituent funds specifically engineered to mirror the returns of various market indices. Its management approach is tailored to the target retirement date prominently featured in its name, operating on the premise of an investor retiring at age 65. ## Key Facts | Metric | Value | |---|---| | Price | $21.95 | | Expense Ratio | 0.08% | | Assets Under Management | $1.88B | | NAV | $21.95 | | Holdings Count | 9 | | Distribution Yield (TTM) | 2.05% | | Annual Distribution (TTM) | $0.45 /share | | Distribution Frequency | Annual | | 52-Week Range | $19.48 – $22.68 | | Beta | 1.11 | ## Latest Distribution - Amount: $0.4491 /share - Ex-date: 2025-12-30 - Pay date: 2025-12-30 ## Frequently Asked Questions ### What does SWYGX invest in? The fund aims to achieve its financial objectives by primarily allocating its capital to Schwab's affiliated exchange-traded funds (ETFs). Under typical conditions, it maintains a mandate to invest a minimum of 80% of its total assets (comprising net assets and any funds borrowed for investment) into constituent funds specifically engineered to mirror the returns of various market indices. Its management approach is tailored to the target retirement date prominently featured in its name, operating on the premise of an investor retiring at age 65. ### What is the expense ratio of SWYGX? Schwab Target 2040 Index Fund Institutional Shares (SWYGX) charges an expense ratio of 0.08%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is SWYGX? Schwab Target 2040 Index Fund Institutional Shares (SWYGX) manages $1.88B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is SWYGX actively managed or an index fund? SWYGX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was SWYGX launched? Schwab Target 2040 Index Fund Institutional Shares (SWYGX) launched in August 2016 and is managed by Schwab. ### How has SWYGX performed? SWYGX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does SWYGX pay a dividend? Schwab Target 2040 Index Fund Institutional Shares (SWYGX) currently distributes little or no income. Trailing-twelve-month yield is 2.05%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does SWYGX pay dividends? Schwab Target 2040 Index Fund Institutional Shares pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is SWYGX's dividend yield? SWYGX's trailing-twelve-month yield is 2.05%, calculated from the sum of dividends over the past year divided by the current price. ### When is SWYGX's next ex-dividend date? The most recently announced ex-dividend date for SWYGX was 2025-12-30. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will SWYGX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.08% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does SWYGX charge its expense ratio? The expense ratio is deducted in tiny daily slices from SWYGX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does SWYGX cost more than a fund like VOO? SWYGX's strategy (current expense ratio 0.08%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where SWYGX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to SWYGX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as SWYGX (0.08%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/swygx - Distribution history: https://www.dividenddata.com/funds/swygx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/swygx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/swygx/expenses - Peer comparison: https://www.dividenddata.com/funds/swygx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.