Strategy. To pursue its goal, the fund generally invests in a diversified group of other affiliated Schwab mutual funds in accordance with its target portfolio allocation. The fund may also invest in affiliated Schwab exchange-traded funds (ETFs), and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to herein as the underlying funds). The funds target allocation is intended to allocate investments among various asset classes such as equity, fixed income and cash and cash equivalents (including money market funds). Each underlying fund invests its assets in a different segment of the equity or fixed-income market in accordance with its own investment objectives and policies. Normally, the fund invests 55-65% of its assets in equity securities … Show more… To pursue its goal, the fund generally invests in a diversified group of other affiliated Schwab mutual funds in accordance with its target portfolio allocation. The fund may also invest in affiliated Schwab exchange-traded funds (ETFs), and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to herein as the underlying funds). The funds target allocation is intended to allocate investments among various asset classes such as equity, fixed income and cash and cash equivalents (including money market funds). Each underlying fund invests its assets in a different segment of the equity or fixed-income market in accordance with its own investment objectives and policies. Normally, the fund invests 55-65% of its assets in equity securities (including stocks and equity funds) and 35-45% in fixed-income securities (including bonds and fixed-income funds), and cash and cash equivalents (including money market funds). This allocation is designed to provide a mix of the growth opportunities of stock investing with the income opportunities of bonds and other fixed-income securities. Under normal circumstances, the fund will invest at least 25% of its assets in equity securities and at least 25% of its assets in fixed-income securities. Within the equity fund allocation, the portfolio manager typically allocates the funds investments among underlying large-cap and small-cap stock funds, as well as international stock funds or other equity funds with an international component, including underlying funds with some exposure to emerging market securities. Within the fixed-income fund allocation, the portfolio manager allocates investments among underlying bond funds based on a number of factors including total return potential and the maturities and credit quality of their holdings. The fund intends to invest in a combination of the underlying funds; however, the fund may invest a portion of its assets directly in equity and fixed-income securities to maintain its asset allocations. The underlying funds may invest in derivatives, principally futures contracts. For temporary defensive purposes during unusual economic or market conditions or for liquidity purposes, the fund may invest up to 100% of its assets directly in cash, money market instruments, repurchase agreements and other short-term obligations. When the fund engages in such activities, it may not achieve its investment objective. Show less