LIHIX vs. PDEJX

Last updated Jun 6, 2026

LIHIX (BlackRock LifePath Index 2045 Fund Institutional) and PDEJX (Prudential Day One 2025 Fund) are both Target Retirement Date funds. Over the past 5 years, LIHIX returned 8.86%/yr vs 7.45%/yr for PDEJX. Their correlation of 0.92 suggests significant overlap in exposure. LIHIX charges 0.14%/yr vs 0.00%/yr for PDEJX.

Performance

LIHIX vs. PDEJX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Index 2045 Fund Institutional (LIHIX) and Prudential Day One 2025 Fund (PDEJX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIHIX achieves a 10.86% return, which is significantly higher than PDEJX's 6.37% return.

LIHIX

• 1D: 0.39%
• 1M: 1.68%
• YTD: 10.86%
• 6M: 11.30%
• 1Y: 25.27%
• 3Y*: 17.59%
• 5Y*: 8.86%
• 10Y*: 11.01%

PDEJX

• 1D: 0.26%
• 1M: 0.44%
• YTD: 6.37%
• 6M: 6.44%
• 1Y: 14.66%
• 3Y*: 14.14%
• 5Y*: 7.45%
• 10Y*: —

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

LIHIX vs. PDEJX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LIHIX BlackRock LifePath Index 2045 Fund Institutional	10.86%	19.01%	11.80%	20.26%	-18.10%	17.74%	13.93%	26.15%	-7.55%	20.25%
PDEJX Prudential Day One 2025 Fund	6.37%	11.91%	17.34%	11.21%	-12.30%	12.90%	9.30%	16.82%	-4.47%	12.48%

Correlation

The correlation between LIHIX and PDEJX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.92

The correlation between LIHIX and PDEJX has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

LIHIX vs. PDEJX — Risk / Return Rank

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

LIHIX

LIHIX Risk / Return Rank: 66
LIHIX Sharpe Ratio Rank: 65
LIHIX Sortino Ratio Rank: 63
LIHIX Omega Ratio Rank: 62
LIHIX Calmar Ratio Rank: 66
LIHIX Martin Ratio Rank: 73

PDEJX

PDEJX Risk / Return Rank: 80
PDEJX Sharpe Ratio Rank: 80
PDEJX Sortino Ratio Rank: 80
PDEJX Omega Ratio Rank: 78
PDEJX Calmar Ratio Rank: 75
PDEJX Martin Ratio Rank: 86

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.

LIHIX vs. PDEJX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index 2045 Fund Institutional (LIHIX) and Prudential Day One 2025 Fund (PDEJX). 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.

	LIHIX	PDEJX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.57	-0.27
Sortino ratio: Return per unit of downside risk	3.23	3.73	-0.50
Omega ratio: Gain probability vs. loss probability	1.42	1.50	-0.08
Calmar ratio: Return relative to maximum drawdown	3.02	3.26	-0.24
Martin ratio: Return relative to average drawdown	13.34	15.64	-2.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LIHIX vs. PDEJX - Sharpe Ratio Comparison

The current LIHIX Sharpe Ratio is 2.30, which is comparable to the PDEJX Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of LIHIX and PDEJX, 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

	LIHIX	PDEJX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.57	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.84	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.94	-0.32

Drawdowns

LIHIX vs. PDEJX - Drawdown Comparison

The maximum LIHIX drawdown since its inception was -33.31%, which is greater than PDEJX's maximum drawdown of -20.45%. Use the drawdown chart below to compare losses from any high point for LIHIX and PDEJX.

Drawdown Indicators

	LIHIX	PDEJX	Difference
Max Drawdown Largest peak-to-trough decline	-33.31%	-20.45%	-12.86%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-4.45%	-3.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.72%	-6.83%	-8.89%
Max Drawdown (5Y) Largest decline over 5 years	-25.92%	-16.83%	-9.09%
Max Drawdown (10Y) Largest decline over 10 years	-33.31%	—	—
Current Drawdown Current decline from peak	-0.35%	-0.17%	-0.18%
Average Drawdown Average peak-to-trough decline	-4.40%	-2.86%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	0.93%	+0.95%

Volatility

LIHIX vs. PDEJX - Volatility Comparison

BlackRock LifePath Index 2045 Fund Institutional (LIHIX) has a higher volatility of 3.45% compared to Prudential Day One 2025 Fund (PDEJX) at 1.82%. This indicates that LIHIX's price experiences larger fluctuations and is considered to be riskier than PDEJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIHIX	PDEJX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	1.82%	+1.63%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	4.57%	+4.20%
Volatility (1Y) Calculated over the trailing 1-year period	10.91%	5.65%	+5.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	8.87%	+5.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.74%	8.82%	+6.92%

LIHIX vs. PDEJX - Expense Ratio Comparison

LIHIX has a 0.14% expense ratio, which is higher than PDEJX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LIHIX vs. PDEJX - Dividend Comparison

LIHIX's dividend yield for the trailing twelve months is around 2.51%, less than PDEJX's 5.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LIHIX BlackRock LifePath Index 2045 Fund Institutional	2.51%	2.78%	0.01%	2.19%	2.01%	2.29%	1.09%	3.32%	2.43%	2.29%	1.55%	3.11%
PDEJX Prudential Day One 2025 Fund	5.29%	5.63%	20.16%	3.66%	7.83%	10.79%	2.42%	5.03%	4.61%	1.68%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LIHIX and PDEJX in my portfolio?

With a correlation of 0.93, LIHIX and PDEJX 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, LIHIX or PDEJX?

LIHIX has higher volatility (3.45%) compared to PDEJX (1.82%). In terms of maximum drawdown, LIHIX dropped -33.31% vs PDEJX's -20.45%.

Which has better risk-adjusted returns?

PDEJX currently has the higher Sharpe Ratio (2.57 vs 2.30), 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.