FKRVX vs. PMTIX

Last updated Jun 6, 2026

FKRVX (Fidelity Managed Retirement 2020 Fund Class K) and PMTIX (Principal LifeTime 2030 Fund) are both Target Retirement Date funds. Over the past 5 years, FKRVX returned 3.90%/yr vs 6.08%/yr for PMTIX. Their correlation of 0.92 suggests significant overlap in exposure. FKRVX charges 0.37%/yr vs 0.01%/yr for PMTIX.

Performance

FKRVX vs. PMTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2020 Fund Class K (FKRVX) and Principal LifeTime 2030 Fund (PMTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FKRVX having a 5.48% return and PMTIX slightly higher at 5.74%.

FKRVX

• 1D: 0.13%
• 1M: 0.60%
• YTD: 5.48%
• 6M: 5.95%
• 1Y: 13.34%
• 3Y*: 9.81%
• 5Y*: 3.90%
• 10Y*: —

PMTIX

• 1D: 0.33%
• 1M: 0.94%
• YTD: 5.74%
• 6M: 6.04%
• 1Y: 15.01%
• 3Y*: 13.62%
• 5Y*: 6.08%
• 10Y*: 8.73%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FKRVX vs. PMTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FKRVX Fidelity Managed Retirement 2020 Fund Class K	5.48%	12.24%	5.97%	10.84%	-14.55%	6.87%	12.20%	5.51%
PMTIX Principal LifeTime 2030 Fund	5.74%	13.25%	12.86%	15.11%	-16.81%	12.70%	14.71%	6.67%

Correlation

The correlation between FKRVX and PMTIX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 2, 2019	0.92

The correlation between FKRVX and PMTIX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

FKRVX vs. PMTIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FKRVX

FKRVX Risk / Return Rank: 70
FKRVX Sharpe Ratio Rank: 71
FKRVX Sortino Ratio Rank: 73
FKRVX Omega Ratio Rank: 74
FKRVX Calmar Ratio Rank: 63
FKRVX Martin Ratio Rank: 69

PMTIX

PMTIX Risk / Return Rank: 51
PMTIX Sharpe Ratio Rank: 48
PMTIX Sortino Ratio Rank: 49
PMTIX Omega Ratio Rank: 50
PMTIX Calmar Ratio Rank: 48
PMTIX Martin Ratio Rank: 59

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FKRVX vs. PMTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2020 Fund Class K (FKRVX) and Principal LifeTime 2030 Fund (PMTIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FKRVX	PMTIX	Difference
Sharpe ratio: Return per unit of total volatility	2.38	1.96	+0.42
Sortino ratio: Return per unit of downside risk	3.46	2.84	+0.62
Omega ratio: Gain probability vs. loss probability	1.47	1.37	+0.10
Calmar ratio: Return relative to maximum drawdown	2.94	2.56	+0.38
Martin ratio: Return relative to average drawdown	12.76	11.39	+1.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FKRVX vs. PMTIX - Sharpe Ratio Comparison

The current FKRVX Sharpe Ratio is 2.38, which is comparable to the PMTIX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of FKRVX and PMTIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FKRVX	PMTIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	1.96	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.58	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.49	+0.27

Drawdowns

FKRVX vs. PMTIX - Drawdown Comparison

The maximum FKRVX drawdown since its inception was -20.02%, smaller than the maximum PMTIX drawdown of -52.14%. Use the drawdown chart below to compare losses from any high point for FKRVX and PMTIX.

Drawdown Indicators

	FKRVX	PMTIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.02%	-52.14%	+32.12%
Max Drawdown (1Y) Largest decline over 1 year	-4.50%	-5.85%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-6.49%	-9.62%	+3.13%
Max Drawdown (5Y) Largest decline over 5 years	-20.02%	-23.05%	+3.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-25.87%	—
Current Drawdown Current decline from peak	-0.20%	-0.26%	+0.06%
Average Drawdown Average peak-to-trough decline	-4.57%	-6.79%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	1.31%	-0.27%

Volatility

FKRVX vs. PMTIX - Volatility Comparison

The current volatility for Fidelity Managed Retirement 2020 Fund Class K (FKRVX) is 2.11%, while Principal LifeTime 2030 Fund (PMTIX) has a volatility of 2.42%. This indicates that FKRVX experiences smaller price fluctuations and is considered to be less risky than PMTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FKRVX	PMTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.11%	2.42%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	4.62%	6.17%	-1.55%
Volatility (1Y) Calculated over the trailing 1-year period	5.58%	7.64%	-2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.27%	10.55%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.08%	11.22%	-3.14%

FKRVX vs. PMTIX - Expense Ratio Comparison

FKRVX has a 0.37% expense ratio, which is higher than PMTIX's 0.01% expense ratio.

Dividends

FKRVX vs. PMTIX - Dividend Comparison

FKRVX's dividend yield for the trailing twelve months is around 2.82%, less than PMTIX's 9.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FKRVX Fidelity Managed Retirement 2020 Fund Class K	2.82%	2.82%	2.85%	2.68%	3.63%	4.70%	3.82%	2.81%	0.00%	0.00%	0.00%	0.00%
PMTIX Principal LifeTime 2030 Fund	9.17%	9.69%	9.60%	4.26%	10.05%	8.87%	6.37%	6.49%	8.21%	5.87%	3.97%	9.44%

Frequently Asked Questions

Can I hold both FKRVX and PMTIX in my portfolio?

With a correlation of 0.94, FKRVX and PMTIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FKRVX or PMTIX?

PMTIX has higher volatility (2.42%) compared to FKRVX (2.11%). In terms of maximum drawdown, FKRVX dropped -20.02% vs PMTIX's -52.14%.

Which has better risk-adjusted returns?

FKRVX currently has the higher Sharpe Ratio (2.38 vs 1.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.