PDIZX vs. LIWKX

Last updated Jun 23, 2026

PDIZX (Putnam Retirement Advantage 2030 Fund) and LIWKX (BlackRock LifePath Index 2065 Fund Class K) are both Target Retirement Date funds. Over the past 5 years, PDIZX returned 6.34%/yr vs 10.81%/yr for LIWKX. Their correlation of 0.93 suggests significant overlap in exposure. PDIZX charges 0.45%/yr vs 0.09%/yr for LIWKX.

Performance

PDIZX vs. LIWKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Retirement Advantage 2030 Fund (PDIZX) and BlackRock LifePath Index 2065 Fund Class K (LIWKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDIZX achieves a 4.70% return, which is significantly lower than LIWKX's 12.62% return.

PDIZX

• 1D: 0.53%
• 1M: 1.07%
• YTD: 4.70%
• 6M: 4.65%
• 1Y: 13.50%
• 3Y*: 12.05%
• 5Y*: 6.34%
• 10Y*: —

LIWKX

• 1D: 1.19%
• 1M: 1.79%
• YTD: 12.62%
• 6M: 12.28%
• 1Y: 29.64%
• 3Y*: 18.88%
• 5Y*: 10.81%
• 10Y*: —

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

PDIZX vs. LIWKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PDIZX Putnam Retirement Advantage 2030 Fund	4.70%	11.93%	8.54%	18.82%	-14.27%	12.07%	11.36%
LIWKX BlackRock LifePath Index 2065 Fund Class K	12.62%	21.71%	14.22%	21.64%	-18.33%	18.87%	15.47%

Correlation

The correlation between PDIZX and LIWKX 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	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.93

The correlation between PDIZX and LIWKX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

PDIZX vs. LIWKX — Risk / Return Rank

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

PDIZX

PDIZX Risk / Return Rank: 80
PDIZX Sharpe Ratio Rank: 78
PDIZX Sortino Ratio Rank: 79
PDIZX Omega Ratio Rank: 76
PDIZX Calmar Ratio Rank: 79
PDIZX Martin Ratio Rank: 86

LIWKX

LIWKX Risk / Return Rank: 67
LIWKX Sharpe Ratio Rank: 66
LIWKX Sortino Ratio Rank: 62
LIWKX Omega Ratio Rank: 62
LIWKX Calmar Ratio Rank: 70
LIWKX Martin Ratio Rank: 75

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.

PDIZX vs. LIWKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Retirement Advantage 2030 Fund (PDIZX) and BlackRock LifePath Index 2065 Fund Class K (LIWKX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PDIZX	LIWKX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.18	+0.19
Sortino ratio: Return per unit of downside risk	3.45	3.00	+0.45
Omega ratio: Gain probability vs. loss probability	1.45	1.40	+0.06
Calmar ratio: Return relative to maximum drawdown	3.39	3.06	+0.33
Martin ratio: Return relative to average drawdown	15.06	13.29	+1.76

PDIZX vs. LIWKX - Sharpe Ratio Comparison

The current PDIZX Sharpe Ratio is 2.37, which is comparable to the LIWKX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of PDIZX and LIWKX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PDIZX vs. LIWKX - Drawdown Comparison

The maximum PDIZX drawdown since its inception was -21.03%, smaller than the maximum LIWKX drawdown of -33.02%. Use the drawdown chart below to compare losses from any high point for PDIZX and LIWKX.

Drawdown Indicators

	PDIZX	LIWKX	Difference
Max Drawdown Largest peak-to-trough decline	-21.03%	-33.02%	+11.99%
Max Drawdown (1Y) Largest decline over 1 year	-3.96%	-9.54%	+5.58%
Max Drawdown (3Y) Largest decline over 3 years	-7.31%	-17.14%	+9.83%
Max Drawdown (5Y) Largest decline over 5 years	-18.97%	-26.41%	+7.44%
Current Drawdown Current decline from peak	0.00%	-0.54%	+0.54%
Average Drawdown Average peak-to-trough decline	-4.31%	-5.75%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	2.19%	-1.30%

Volatility

PDIZX vs. LIWKX - Volatility Comparison

The current volatility for Putnam Retirement Advantage 2030 Fund (PDIZX) is 2.25%, while BlackRock LifePath Index 2065 Fund Class K (LIWKX) has a volatility of 5.33%. This indicates that PDIZX experiences smaller price fluctuations and is considered to be less risky than LIWKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDIZX	LIWKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	5.33%	-3.08%
Volatility (6M) Calculated over the trailing 6-month period	4.63%	11.16%	-6.53%
Volatility (1Y) Calculated over the trailing 1-year period	5.68%	13.38%	-7.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.66%	16.04%	-7.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.45%	18.65%	-8.20%

PDIZX vs. LIWKX - Expense Ratio Comparison

PDIZX has a 0.45% expense ratio, which is higher than LIWKX's 0.09% expense ratio.

Dividends

PDIZX vs. LIWKX - Dividend Comparison

PDIZX's dividend yield for the trailing twelve months is around 7.29%, more than LIWKX's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
LIWKX BlackRock LifePath Index 2065 Fund Class K	1.61%	1.81%	0.00%	2.02%	1.80%	1.81%	1.32%	0.88%
PDIZX Putnam Retirement Advantage 2030 Fund	7.29%	7.63%	4.91%	3.15%	7.76%	12.48%	1.28%	0.00%

Frequently Asked Questions

Can I hold both PDIZX and LIWKX in my portfolio?

With a correlation of 0.93, PDIZX and LIWKX 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, PDIZX or LIWKX?

LIWKX has higher volatility (5.33%) compared to PDIZX (2.25%). In terms of maximum drawdown, PDIZX dropped -21.03% vs LIWKX's -33.02%.

Which has better risk-adjusted returns?

PDIZX currently has the higher Sharpe Ratio (2.37 vs 2.18), 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.