# Schwab Target 2045 Index Fund Institutional Shares (SWYHX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/swyhx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Schwab · Asset class: — - Strategy: Passive Index · Inception: 2016-08-25 This investment vehicle aims to achieve its financial objectives predominantly by allocating its capital to various exchange-traded funds (ETFs) within the Schwab family. Customarily, a minimum of 80% of its total assets—which encompasses any funds borrowed for investment purposes—is dedicated to these underlying funds. These constituent funds are strategically managed to mirror the returns of specific market benchmarks. The fund's allocation strategy is intricately linked to the particular retirement year (target date) specified in its name, based on an assumed retirement age of 65. ## Key Facts | Metric | Value | |---|---| | Price | $23.50 | | Expense Ratio | 0.08% | | Assets Under Management | $1.30B | | NAV | $23.39 | | Holdings Count | 9 | | Distribution Yield (TTM) | 1.88% | | Annual Distribution (TTM) | $0.44 /share | | Distribution Frequency | Annual | | 52-Week Range | $20.42 – $24.11 | | Beta | 1.17 | ## Latest Distribution - Amount: $0.4410 /share - Ex-date: 2025-12-30 - Pay date: 2025-12-30 ## Frequently Asked Questions ### What does SWYHX invest in? This investment vehicle aims to achieve its financial objectives predominantly by allocating its capital to various exchange-traded funds (ETFs) within the Schwab family. Customarily, a minimum of 80% of its total assets—which encompasses any funds borrowed for investment purposes—is dedicated to these underlying funds. These constituent funds are strategically managed to mirror the returns of specific market benchmarks. The fund's allocation strategy is intricately linked to the particular retirement year (target date) specified in its name, based on an assumed retirement age of 65. ### What is the expense ratio of SWYHX? Schwab Target 2045 Index Fund Institutional Shares (SWYHX) charges an expense ratio of 0.08%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is SWYHX? Schwab Target 2045 Index Fund Institutional Shares (SWYHX) manages $1.30B 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 SWYHX actively managed or an index fund? SWYHX is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (SWYHX's is 0.08%) because there's no security selection cost. ### When was SWYHX launched? Schwab Target 2045 Index Fund Institutional Shares (SWYHX) launched in August 2016 and is managed by Schwab. ### How has SWYHX performed? SWYHX'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 SWYHX pay a dividend? Schwab Target 2045 Index Fund Institutional Shares (SWYHX) currently distributes little or no income. Trailing-twelve-month yield is 1.88%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does SWYHX pay dividends? Schwab Target 2045 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 SWYHX's dividend yield? SWYHX's trailing-twelve-month yield is 1.88%, calculated from the sum of dividends over the past year divided by the current price. ### When is SWYHX's next ex-dividend date? The most recently announced ex-dividend date for SWYHX 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 SWYHX'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 SWYHX charge its expense ratio? The expense ratio is deducted in tiny daily slices from SWYHX'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 SWYHX cost more than a fund like VOO? SWYHX is a passive index fund (current expense ratio 0.08%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to SWYHX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as SWYHX (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/swyhx - Distribution history: https://www.dividenddata.com/funds/swyhx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/swyhx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/swyhx/expenses - Peer comparison: https://www.dividenddata.com/funds/swyhx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.