FMREX vs. PTDIX

Last updated Jun 6, 2026

FMREX (Fidelity Managed Retirement 2030 Fund Class K) and PTDIX (Principal LifeTime 2040 Fund) are both Target Retirement Date funds. Over the past 5 years, FMREX returned 4.90%/yr vs 8.08%/yr for PTDIX. Their correlation of 0.92 suggests significant overlap in exposure. FMREX charges 0.38%/yr vs 0.01%/yr for PTDIX.

Performance

FMREX vs. PTDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2030 Fund Class K (FMREX) and Principal LifeTime 2040 Fund (PTDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMREX achieves a 7.04% return, which is significantly lower than PTDIX's 7.44% return.

FMREX

• 1D: 0.15%
• 1M: 0.85%
• YTD: 7.04%
• 6M: 7.60%
• 1Y: 16.67%
• 3Y*: 11.75%
• 5Y*: 4.90%
• 10Y*: —

PTDIX

• 1D: 0.39%
• 1M: 1.24%
• YTD: 7.44%
• 6M: 7.73%
• 1Y: 18.65%
• 3Y*: 17.08%
• 5Y*: 8.08%
• 10Y*: 10.47%

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

FMREX vs. PTDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FMREX Fidelity Managed Retirement 2030 Fund Class K	7.04%	14.45%	7.18%	12.74%	-16.23%	8.96%	13.98%	7.35%
PTDIX Principal LifeTime 2040 Fund	7.44%	15.59%	17.43%	18.33%	-18.13%	15.35%	16.04%	9.22%

Correlation

The correlation between FMREX and PTDIX 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	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 29, 2019	0.92

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

Return for Risk

FMREX vs. PTDIX — Risk / Return Rank

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

FMREX

FMREX Risk / Return Rank: 69
FMREX Sharpe Ratio Rank: 68
FMREX Sortino Ratio Rank: 70
FMREX Omega Ratio Rank: 72
FMREX Calmar Ratio Rank: 64
FMREX Martin Ratio Rank: 70

PTDIX

PTDIX Risk / Return Rank: 49
PTDIX Sharpe Ratio Rank: 45
PTDIX Sortino Ratio Rank: 45
PTDIX Omega Ratio Rank: 46
PTDIX Calmar Ratio Rank: 48
PTDIX 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.

FMREX vs. PTDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2030 Fund Class K (FMREX) and Principal LifeTime 2040 Fund (PTDIX). 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.

	FMREX	PTDIX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.90	+0.44
Sortino ratio: Return per unit of downside risk	3.37	2.71	+0.66
Omega ratio: Gain probability vs. loss probability	1.46	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	2.97	2.56	+0.41
Martin ratio: Return relative to average drawdown	12.88	11.38	+1.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMREX vs. PTDIX - Sharpe Ratio Comparison

The current FMREX Sharpe Ratio is 2.34, which is comparable to the PTDIX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FMREX and PTDIX, 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

	FMREX	PTDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	1.90	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.60	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.48	+0.29

Drawdowns

FMREX vs. PTDIX - Drawdown Comparison

The maximum FMREX drawdown since its inception was -22.43%, smaller than the maximum PTDIX drawdown of -54.38%. Use the drawdown chart below to compare losses from any high point for FMREX and PTDIX.

Drawdown Indicators

	FMREX	PTDIX	Difference
Max Drawdown Largest peak-to-trough decline	-22.43%	-54.38%	+31.95%
Max Drawdown (1Y) Largest decline over 1 year	-5.59%	-7.32%	+1.73%
Max Drawdown (3Y) Largest decline over 3 years	-7.71%	-13.05%	+5.34%
Max Drawdown (5Y) Largest decline over 5 years	-22.43%	-25.43%	+3.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.02%	—
Current Drawdown Current decline from peak	-0.20%	-0.33%	+0.13%
Average Drawdown Average peak-to-trough decline	-5.16%	-7.49%	+2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	1.64%	-0.35%

Volatility

FMREX vs. PTDIX - Volatility Comparison

The current volatility for Fidelity Managed Retirement 2030 Fund Class K (FMREX) is 2.58%, while Principal LifeTime 2040 Fund (PTDIX) has a volatility of 2.92%. This indicates that FMREX experiences smaller price fluctuations and is considered to be less risky than PTDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMREX	PTDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	2.92%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	5.88%	7.87%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	7.11%	9.84%	-2.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.88%	13.49%	-4.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.03%	13.83%	-3.80%

FMREX vs. PTDIX - Expense Ratio Comparison

FMREX has a 0.38% expense ratio, which is higher than PTDIX's 0.01% expense ratio.

Dividends

FMREX vs. PTDIX - Dividend Comparison

FMREX's dividend yield for the trailing twelve months is around 2.89%, less than PTDIX's 9.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMREX Fidelity Managed Retirement 2030 Fund Class K	2.89%	2.59%	2.49%	2.50%	4.13%	4.80%	3.05%	1.56%	0.00%	0.00%	0.00%	0.00%
PTDIX Principal LifeTime 2040 Fund	9.12%	9.80%	12.28%	4.40%	8.61%	8.92%	6.01%	7.26%	9.28%	6.07%	4.86%	6.73%

Frequently Asked Questions

Can I hold both FMREX and PTDIX in my portfolio?

With a correlation of 0.94, FMREX and PTDIX 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, FMREX or PTDIX?

PTDIX has higher volatility (2.92%) compared to FMREX (2.58%). In terms of maximum drawdown, FMREX dropped -22.43% vs PTDIX's -54.38%.

Which has better risk-adjusted returns?

FMREX currently has the higher Sharpe Ratio (2.34 vs 1.90), 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.