PHTTX vs. FRQAX
PHTTX (Principal LifeTime Hybrid 2020 Fund) and FRQAX (Fidelity Advisor Managed Retirement 2010 Fund Class A) are both Target Retirement Date funds. Over the past 10 years, PHTTX returned 6.91%/yr vs 4.87%/yr for FRQAX. Their correlation of 0.90 suggests significant overlap in exposure. PHTTX charges 0.05%/yr vs 0.71%/yr for FRQAX.
Performance
PHTTX vs. FRQAX - Performance Comparison
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Returns By Period
In the year-to-date period, PHTTX achieves a 4.91% return, which is significantly higher than FRQAX's 3.51% return. Over the past 10 years, PHTTX has outperformed FRQAX with an annualized return of 6.91%, while FRQAX has yielded a comparatively lower 4.87% annualized return.
PHTTX
- 1D
- 0.39%
- 1M
- 0.23%
- 6M
- 3.66%
- YTD
- 4.91%
- 1Y
- 11.44%
- 3Y*
- 10.58%
- 5Y*
- 4.79%
- 10Y*
- 6.91%
FRQAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 2.66%
- YTD
- 3.51%
- 1Y
- 8.05%
- 3Y*
- 7.10%
- 5Y*
- 2.44%
- 10Y*
- 4.87%
PHTTX vs. FRQAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHTTX Principal LifeTime Hybrid 2020 Fund | 4.91% | 12.10% | 8.85% | 12.06% | -14.36% | 9.94% | 12.63% | 17.17% | -5.44% | 13.51% |
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A | 3.51% | 9.54% | 4.21% | 8.24% | -12.60% | 3.56% | 9.32% | 12.33% | -3.06% | 10.34% |
Correlation
The correlation between PHTTX and FRQAX is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014 | 0.90 |
The correlation between PHTTX and FRQAX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.
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Return for Risk
PHTTX vs. FRQAX — Risk / Return Rank
PHTTX
FRQAX
PHTTX vs. FRQAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime Hybrid 2020 Fund (PHTTX) and Fidelity Advisor Managed Retirement 2010 Fund Class A (FRQAX). 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.
| PHTTX | FRQAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.43 | 2.30 | +0.13 |
| Martin ratioReturn relative to average drawdown | 10.67 | 9.55 | +1.12 |
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Drawdowns
PHTTX vs. FRQAX - Drawdown Comparison
The maximum PHTTX drawdown since its inception was -18.94%, smaller than the maximum FRQAX drawdown of -38.22%. Use the drawdown chart below to compare losses from any high point for PHTTX and FRQAX.
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Drawdown Indicators
| PHTTX | FRQAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.94% | -38.22% | +19.28% |
Max Drawdown (1Y)Largest decline over 1 year | -4.62% | -3.46% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -7.20% | -5.27% | -1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.90% | -17.24% | -1.66% |
Max Drawdown (10Y)Largest decline over 10 years | -18.94% | -17.24% | -1.70% |
Current DrawdownCurrent decline from peak | -0.46% | -0.43% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -3.28% | -4.56% | +1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.83% | +0.22% |
Volatility
PHTTX vs. FRQAX - Volatility Comparison
Principal LifeTime Hybrid 2020 Fund (PHTTX) has a higher volatility of 2.37% compared to Fidelity Advisor Managed Retirement 2010 Fund Class A (FRQAX) at 1.58%. This indicates that PHTTX's price experiences larger fluctuations and is considered to be riskier than FRQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHTTX | FRQAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 1.58% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 5.44% | 3.67% | +1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.43% | 4.33% | +2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.10% | 5.59% | +2.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.51% | 5.28% | +3.23% |
PHTTX vs. FRQAX - Expense Ratio Comparison
PHTTX has a 0.05% expense ratio, which is lower than FRQAX's 0.71% expense ratio.
Dividends
PHTTX vs. FRQAX - Dividend Comparison
PHTTX's dividend yield for the trailing twelve months is around 5.84%, more than FRQAX's 2.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A | 2.89% | 2.72% | 2.71% | 2.46% | 4.74% | 5.76% | 3.26% | 2.93% | 5.33% | 16.05% | 2.18% | 3.81% |
PHTTX Principal LifeTime Hybrid 2020 Fund | 5.84% | 6.12% | 3.67% | 3.46% | 7.03% | 5.97% | 4.75% | 3.12% | 3.36% | 2.52% | 2.13% | 1.64% |
Frequently Asked Questions
PHTTX and FRQAX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PHTTX has higher volatility (2.37%) compared to FRQAX (1.58%). In terms of maximum drawdown, PHTTX dropped -18.94% vs FRQAX's -38.22%.
FRQAX currently has the higher Sharpe Ratio (1.84 vs 1.75), 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.
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