SMRT
SMRT

Schwab Managed Retirement Trusts

The Schwab Managed Retirement Trusts™ (SMRTs)  are Collective Investment Trusts (CITs) maintained by Charles Schwab Trust Bank (Schwab Trust Bank or CSTB).

Seeking to provide total return for investors in or near particular target retirement date.*

SMRTs are comprehensive investment portfolios that adjust asset allocations over time to better match the assumed changing risk tolerances and return objectives of investors over time. The only exception is the Schwab Managed Retirement Trust Income Fund, which is designed as a single investment portfolio that maintains a policy allocation intended to remain static and does not seek to distribute income.

SMRTs employ both active and passive strategies and are diversified through exposure to a variety of asset classes that may include, but are not limited to, domestic and international equity, emerging markets equity, global real estate, intermediate-term bonds, world bonds, inflation-protected bonds (U.S. TIPS), short-term bonds, and cash and cash equivalents.


The SMRT Glidepath.

This Trust’s target date is the date when investors are expected to begin gradual withdrawal of Trust assets. For an investor planning to retire at age 65 in 2025, for example, the target allocation for the Schwab Managed Retirement Trust 2025 will be approximately 40% equity, 56% fixed income, and 4% cash and cash equivalents (see chart). The Trust will continue to increase its allocation to fixed income until the year 2045. In 2045, the Trust will reach its most conservative allocation of approximately 25% equity, 69% fixed income, and 6% cash and cash equivalents.

The values of the Trusts will fluctuate up to and after the target date. There is no guarantee the Trusts will provide adequate income at or through retirement.

Chart showing percentages of SMRT allocation including equity, fixed income, and cash.

Schwab Managed Retirement Trusts

Target
Date
Unit Class I Unit Class II Unit Class III Unit Class IV Unit Class V1 Unit Class VI2
Income
Inception Date: 12/17/2004 Expense Ratio: 0.89% 
Inception Date: 09/02/2005 Expense Ratio: 0.69%
Inception Date: 01/03/2007 Expense Ratio: 0.54%
Inception Date: 01/05/2010 Expense Ratio: 0.45%
Inception  Date: 06/19/2014 Expense Ratio: 0.35%
Inception Date: 09/25/2018 Expense Ratio: 0.30%
2010
Inception Date: 10/01/2002
Expense Ratio: 0.89%
Inception Date: 09/02/2005
Expense Ratio: 0.69%
Inception Date: 01/03/2007 Expense Ratio: 0.54%
Inception Date: 01/05/2010
Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35%
Inception Date: 09/25/2018
Expense Ratio: 0.30%
2015
Inception Date: 08/02/2007
Expense Ratio: 0.89%
Inception Date: 10/02/2007
Expense Ratio: 0.69%
Inception Date: 08/30/2007 Expense Ratio: 0.54%
Inception Date: 04/05/2010 Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35%
Inception Date: 09/25/2018 Expense Ratio: 0.30%
2020
Inception Date: 10/01/2002
Expense Ratio: 0.89%
Inception Date: 09/02/2005
Expense Ratio: 0.69%
Inception Date: 01/03/2007
Expense Ratio: 0.54%
Inception Date: 01/05/2010
Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35%
Inception Date: 09/25/2018
Expense Ratio: 0.30%
2025
Inception Date: 08/02/2007
Expense Ratio: 0.89%
Inception Date: 10/02/2007 Expense Ratio: 0.69%
Inception Date: 08/30/2007
Expense Ratio: 0.54%
Inception Date: 04/05/2010
Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35%
Inception Date: 09/25/2018
Expense Ratio: 0.30%
2030
Inception Date: 10/01/2002
Expense Ratio: 0.89%
Inception Date: 09/02/2005
Expense Ratio: 0.69%
Inception Date: 01/03/2007
Expense Ratio: 0.54%
Inception Date: 01/05/2010
Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35%
Inception Date: 09/25/2018
Expense Ratio: 0.30%
2035
Inception Date: 08/02/2007
Expense Ratio: 0.89%
Inception Date: 10/02/2007
Expense Ratio: 0.69%
Inception Date: 08/28/2007 Expense Ratio: 0.54%
Inception Date: 04/05/2010 Expense Ratio: 0.45%
Inception Date: 06/19/2014 Expense Ratio: 0.35%
Inception Date: 10/01/2018
Expense Ratio: 0.30%
2040
Inception Date: 10/18/2002
Expense Ratio: 0.89%
Inception Date: 09/02/2005
Expense Ratio: 0.69%
Inception Date: 01/03/2007
Expense Ratio: 0.54%
Inception Date: 01/05/2010 Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35%
Inception Date: 09/25/2018
Expense Ratio: 0.30% 
2045
Inception Date: 08/02/2007 Expense Ratio: 0.89%
Inception Date: 10/02/2007
Expense Ratio: 0.69% 
Inception Date: 08/30/2007 Expense Ratio: 0.54%
Inception Date: 04/05/2010
Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35%
Inception Date: 09/27/2018
Expense Ratio: 0.30%
2050
Inception Date: 02/20/2007 Expense Ratio: 0.89%
Inception Date: 01/08/2007 Expense Ratio: 0.69%
Inception Date: 01/03/2007
Expense Ratio: 0.54%
Inception Date: 01/05/2010
Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35% 
Inception Date: 09/25/2018 Expense Ratio: 0.30%
2055
Inception Date: 05/03/2013
Expense Ratio: 0.89%
Inception Date: 11/21/2012
Expense Ratio: 0.69%
Inception Date: 07/02/2013 Expense Ratio: 0.54%
Inception Date: 12/10/2012
Expense Ratio: 0.45%
Inception Date: 06/19/2014
Expense Ratio: 0.35%
Inception Date: 09/26/2018
Expense Ratio: 0.30%
2060 Inception Date: 12/31/2015
Expense Ratio: 0.89% 
Inception Date: 11/23/2015
Expense Ratio: 0.69%
Inception Date: 10/28/2015
Expense Ratio: 0.54%
Inception Date: 9/21/2015
Expense Ratio: 0.45%
Inception Date: 12/7/2015
Expense Ratio: 0.35%
Inception Date: 09/27/2018 Expense Ratio: 0.30%
2065
Inception Date: --
Expense Ratio: 0.89%

Inception Date: 09/23/2021 Expense Ratio: 0.69% Inception Date: 08/24/2021 Expense Ratio: 0.54% Inception Date: 06/10/2021 Expense Ratio: 0.45% Inception Date: 04/13/2021 Expense Ratio: 0.35% Inception Date: 01/26/2021 Expense Ratio: 0.30%

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