PHTMX vs. IRSOX

Last updated Jun 23, 2026

PHTMX (Principal LifeTime Hybrid 2015 Fund) and IRSOX (Voya Target Retirement 2040 Fund) are both Target Retirement Date funds. Over the past 10 years, PHTMX returned 6.28%/yr vs 11.25%/yr for IRSOX. Their correlation of 0.92 suggests significant overlap in exposure. PHTMX charges 0.05%/yr vs 0.23%/yr for IRSOX.

Performance

PHTMX vs. IRSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LifeTime Hybrid 2015 Fund (PHTMX) and Voya Target Retirement 2040 Fund (IRSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHTMX achieves a 4.29% return, which is significantly lower than IRSOX's 11.15% return. Over the past 10 years, PHTMX has underperformed IRSOX with an annualized return of 6.28%, while IRSOX has yielded a comparatively higher 11.25% annualized return.

PHTMX

• 1D: 0.00%
• 1M: 0.70%
• YTD: 4.29%
• 6M: 4.19%
• 1Y: 12.04%
• 3Y*: 9.42%
• 5Y*: 4.35%
• 10Y*: 6.28%

IRSOX

• 1D: 1.00%
• 1M: 1.72%
• YTD: 11.15%
• 6M: 11.03%
• 1Y: 25.96%
• 3Y*: 17.22%
• 5Y*: 9.58%
• 10Y*: 11.25%

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

PHTMX vs. IRSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHTMX Principal LifeTime Hybrid 2015 Fund	4.29%	11.23%	7.87%	11.09%	-13.61%	7.83%	11.84%	15.18%	-4.52%	11.78%
IRSOX Voya Target Retirement 2040 Fund	11.15%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-8.31%	20.15%

Correlation

The correlation between PHTMX and IRSOX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014	0.92

The correlation between PHTMX and IRSOX has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.

Return for Risk

PHTMX vs. IRSOX — Risk / Return Rank

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

PHTMX

PHTMX Risk / Return Rank: 67
PHTMX Sharpe Ratio Rank: 63
PHTMX Sortino Ratio Rank: 67
PHTMX Omega Ratio Rank: 71
PHTMX Calmar Ratio Rank: 64
PHTMX Martin Ratio Rank: 72

IRSOX

IRSOX Risk / Return Rank: 81
IRSOX Sharpe Ratio Rank: 82
IRSOX Sortino Ratio Rank: 81
IRSOX Omega Ratio Rank: 77
IRSOX Calmar Ratio Rank: 78
IRSOX Martin Ratio Rank: 88

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.

PHTMX vs. IRSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime Hybrid 2015 Fund (PHTMX) and Voya Target Retirement 2040 Fund (IRSOX). 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.

	PHTMX	IRSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.46	-0.32
Sortino ratio: Return per unit of downside risk	3.09	3.54	-0.45
Omega ratio: Gain probability vs. loss probability	1.43	1.46	-0.03
Calmar ratio: Return relative to maximum drawdown	2.93	3.34	-0.41
Martin ratio: Return relative to average drawdown	12.88	15.54	-2.67

PHTMX vs. IRSOX - Sharpe Ratio Comparison

The current PHTMX Sharpe Ratio is 2.14, which is comparable to the IRSOX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of PHTMX and IRSOX, 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

PHTMX vs. IRSOX - Drawdown Comparison

The maximum PHTMX drawdown since its inception was -17.93%, smaller than the maximum IRSOX drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for PHTMX and IRSOX.

Drawdown Indicators

	PHTMX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-17.93%	-31.25%	+13.32%
Max Drawdown (1Y) Largest decline over 1 year	-4.12%	-8.38%	+4.26%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-13.84%	+7.72%
Max Drawdown (5Y) Largest decline over 5 years	-17.93%	-25.24%	+7.31%
Max Drawdown (10Y) Largest decline over 10 years	-17.93%	-31.25%	+13.32%
Current Drawdown Current decline from peak	-0.57%	-0.46%	-0.11%
Average Drawdown Average peak-to-trough decline	-3.05%	-4.27%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	1.74%	-0.80%

Volatility

PHTMX vs. IRSOX - Volatility Comparison

The current volatility for Principal LifeTime Hybrid 2015 Fund (PHTMX) is 2.43%, while Voya Target Retirement 2040 Fund (IRSOX) has a volatility of 4.38%. This indicates that PHTMX experiences smaller price fluctuations and is considered to be less risky than IRSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHTMX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.43%	4.38%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	4.73%	9.34%	-4.61%
Volatility (1Y) Calculated over the trailing 1-year period	5.66%	11.38%	-5.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.19%	13.96%	-6.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.40%	14.84%	-7.44%

PHTMX vs. IRSOX - Expense Ratio Comparison

PHTMX has a 0.05% expense ratio, which is lower than IRSOX's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PHTMX vs. IRSOX - Dividend Comparison

PHTMX's dividend yield for the trailing twelve months is around 5.36%, less than IRSOX's 12.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IRSOX Voya Target Retirement 2040 Fund	12.33%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%
PHTMX Principal LifeTime Hybrid 2015 Fund	5.36%	4.41%	3.87%	3.45%	5.20%	5.53%	4.89%	3.11%	2.24%	2.33%	2.00%	1.61%

Frequently Asked Questions

Can I hold both PHTMX and IRSOX in my portfolio?

PHTMX and IRSOX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PHTMX or IRSOX?

IRSOX has higher volatility (4.38%) compared to PHTMX (2.43%). In terms of maximum drawdown, PHTMX dropped -17.93% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.46 vs 2.14), 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.