Correct. Some did not have them. The local Schwinn shop called the ones with fenders, DeLuxe, almost always the girls versions had fenders, and the rear ended short with a spoiler end as we called them.
Fenders were an accessory too. So, some were dealer installed.
The Krates had them, and I think by 1970? the front fender was dropped from the model.
As I could not afford one, I did not bother to memorize that.
Bought my Forrest Green Stingray in late 1969. First thing I did was exchange the saddle and removed all the graphics save the chainstay asterisk star with fingernail polish remover.