PATVX vs. LTRIX

Last updated Jun 3, 2026

PATVX (T. Rowe Price Target 2035 Fund) and LTRIX (Principal LifeTime 2045 Fund) are both Target Retirement Date funds. Over the past 10 years, PATVX returned 8.53%/yr vs 10.97%/yr for LTRIX. With a 0.95 correlation, they move nearly in lockstep. PATVX charges 0.83%/yr vs 0.01%/yr for LTRIX.

Performance

PATVX vs. LTRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Target 2035 Fund (PATVX) and Principal LifeTime 2045 Fund (LTRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PATVX achieves a 7.46% return, which is significantly lower than LTRIX's 8.27% return. Over the past 10 years, PATVX has underperformed LTRIX with an annualized return of 8.53%, while LTRIX has yielded a comparatively higher 10.97% annualized return.

PATVX

• 1D: 0.06%
• 1M: 2.35%
• YTD: 7.46%
• 6M: 8.27%
• 1Y: 17.83%
• 3Y*: 13.49%
• 5Y*: 6.16%
• 10Y*: 8.53%

LTRIX

• 1D: 0.55%
• 1M: 3.51%
• YTD: 8.27%
• 6M: 9.02%
• 1Y: 20.92%
• 3Y*: 17.68%
• 5Y*: 8.58%
• 10Y*: 10.97%

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

PATVX vs. LTRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PATVX T. Rowe Price Target 2035 Fund	7.46%	14.12%	10.28%	15.63%	-16.79%	12.51%	15.16%	20.62%	-6.13%	16.13%
LTRIX Principal LifeTime 2045 Fund	8.27%	16.69%	16.90%	19.40%	-18.51%	16.55%	16.33%	25.81%	-8.34%	21.38%

Correlation

The correlation between PATVX and LTRIX 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	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Aug 23, 2013	0.95

The correlation between PATVX and LTRIX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

PATVX vs. LTRIX — Risk / Return Rank

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

PATVX

PATVX Risk / Return Rank: 58
PATVX Sharpe Ratio Rank: 60
PATVX Sortino Ratio Rank: 62
PATVX Omega Ratio Rank: 63
PATVX Calmar Ratio Rank: 47
PATVX Martin Ratio Rank: 58

LTRIX

LTRIX Risk / Return Rank: 49
LTRIX Sharpe Ratio Rank: 46
LTRIX Sortino Ratio Rank: 46
LTRIX Omega Ratio Rank: 47
LTRIX Calmar Ratio Rank: 47
LTRIX 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.

PATVX vs. LTRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Target 2035 Fund (PATVX) and Principal LifeTime 2045 Fund (LTRIX). 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.

	PATVX	LTRIX	Difference
Sharpe ratio Return per unit of total volatility	2.28	2.00	+0.28
Sortino ratio Return per unit of downside risk	3.29	2.83	+0.46
Omega ratio Gain probability vs. loss probability	1.44	1.37	+0.07
Calmar ratio Return relative to maximum drawdown	2.62	2.65	-0.03
Martin ratio Return relative to average drawdown	11.54	11.93	-0.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PATVX vs. LTRIX - Sharpe Ratio Comparison

The current PATVX Sharpe Ratio is 2.28, which is comparable to the LTRIX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of PATVX and LTRIX, 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

	PATVX	LTRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.00	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.59	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.74	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.48	+0.25

Drawdowns

PATVX vs. LTRIX - Drawdown Comparison

The maximum PATVX drawdown since its inception was -26.76%, smaller than the maximum LTRIX drawdown of -51.39%. Use the drawdown chart below to compare losses from any high point for PATVX and LTRIX.

Drawdown Indicators

	PATVX	LTRIX	Difference
Max Drawdown Largest peak-to-trough decline	-26.76%	-51.39%	+24.63%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-8.04%	+1.27%
Max Drawdown (3Y) Largest decline over 3 years	-10.74%	-14.47%	+3.73%
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	-26.25%	+2.43%
Max Drawdown (10Y) Largest decline over 10 years	-26.76%	-31.56%	+4.80%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.09%	-7.20%	+3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	1.79%	-0.25%

Volatility

PATVX vs. LTRIX - Volatility Comparison

The current volatility for T. Rowe Price Target 2035 Fund (PATVX) is 2.54%, while Principal LifeTime 2045 Fund (LTRIX) has a volatility of 3.06%. This indicates that PATVX experiences smaller price fluctuations and is considered to be less risky than LTRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PATVX	LTRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	3.06%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	6.88%	8.62%	-1.74%
Volatility (1Y) Calculated over the trailing 1-year period	8.28%	10.75%	-2.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.84%	14.59%	-3.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.38%	14.82%	-3.44%

PATVX vs. LTRIX - Expense Ratio Comparison

PATVX has a 0.83% expense ratio, which is higher than LTRIX's 0.01% expense ratio.

Dividends

PATVX vs. LTRIX - Dividend Comparison

PATVX's dividend yield for the trailing twelve months is around 6.55%, less than LTRIX's 8.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTRIX Principal LifeTime 2045 Fund	8.60%	9.31%	9.40%	4.25%	8.71%	6.75%	4.62%	6.93%	7.50%	4.57%	4.48%	5.42%
PATVX T. Rowe Price Target 2035 Fund	6.55%	7.03%	3.58%	3.00%	5.31%	3.38%	2.93%	3.77%	5.30%	1.72%	2.19%	2.39%

Frequently Asked Questions

Can I hold both PATVX and LTRIX in my portfolio?

With a correlation of 0.94, PATVX and LTRIX 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, PATVX or LTRIX?

LTRIX has higher volatility (3.06%) compared to PATVX (2.54%). In terms of maximum drawdown, PATVX dropped -26.76% vs LTRIX's -51.39%.

Which has better risk-adjusted returns?

PATVX currently has the higher Sharpe Ratio (2.28 vs 2.00), 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.