PHTYX vs. PMDIX

Last updated Jun 4, 2026

PHTYX (Principal LifeTime Hybrid 2045 Fund) and PMDIX (Principal Small-MidCap Dividend Income Fund) are both mutual funds - PHTYX is a Target Retirement Date fund managed by Principal, while PMDIX is a Mid Cap Value Equities fund managed by Principal. Over the past 10 years, PHTYX returned 11.26%/yr vs 9.85%/yr for PMDIX. Their correlation of 0.86 suggests significant overlap in exposure. PHTYX charges 0.05%/yr vs 0.85%/yr for PMDIX.

Performance

PHTYX vs. PMDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LifeTime Hybrid 2045 Fund (PHTYX) and Principal Small-MidCap Dividend Income Fund (PMDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHTYX achieves a 10.47% return, which is significantly lower than PMDIX's 12.33% return. Over the past 10 years, PHTYX has outperformed PMDIX with an annualized return of 11.26%, while PMDIX has yielded a comparatively lower 9.85% annualized return.

PHTYX

• 1D: 0.42%
• 1M: 4.92%
• YTD: 10.47%
• 6M: 10.98%
• 1Y: 25.57%
• 3Y*: 18.55%
• 5Y*: 9.67%
• 10Y*: 11.26%

PMDIX

• 1D: 1.11%
• 1M: 0.74%
• YTD: 12.33%
• 6M: 12.11%
• 1Y: 24.11%
• 3Y*: 17.23%
• 5Y*: 9.48%
• 10Y*: 9.85%

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

PHTYX vs. PMDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PHTYX Principal LifeTime Hybrid 2045 Fund	10.47%	18.54%	16.13%	19.35%	-18.26%	18.37%	15.78%	24.79%	-9.07%	19.81%
PMDIX Principal Small-MidCap Dividend Income Fund	12.33%	8.63%	14.56%	18.81%	-11.66%	30.41%	-6.40%	25.38%	-13.80%	13.30%

Correlation

The correlation between PHTYX and PMDIX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 2, 2014	0.86

The correlation between PHTYX and PMDIX shifts across timeframes, from 0.74 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PHTYX vs. PMDIX — Risk / Return Rank

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

PHTYX

PHTYX Risk / Return Rank: 69
PHTYX Sharpe Ratio Rank: 67
PHTYX Sortino Ratio Rank: 64
PHTYX Omega Ratio Rank: 64
PHTYX Calmar Ratio Rank: 71
PHTYX Martin Ratio Rank: 80

PMDIX

PMDIX Risk / Return Rank: 39
PMDIX Sharpe Ratio Rank: 37
PMDIX Sortino Ratio Rank: 40
PMDIX Omega Ratio Rank: 35
PMDIX Calmar Ratio Rank: 42
PMDIX Martin Ratio Rank: 42

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.

PHTYX vs. PMDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime Hybrid 2045 Fund (PHTYX) and Principal Small-MidCap Dividend Income Fund (PMDIX). 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.

	PHTYX	PMDIX	Difference
Sharpe ratio Return per unit of total volatility	2.39	1.76	+0.64
Sortino ratio Return per unit of downside risk	3.34	2.65	+0.69
Omega ratio Gain probability vs. loss probability	1.45	1.31	+0.14
Calmar ratio Return relative to maximum drawdown	3.28	2.47	+0.81
Martin ratio Return relative to average drawdown	15.01	9.04	+5.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PHTYX vs. PMDIX - Sharpe Ratio Comparison

The current PHTYX Sharpe Ratio is 2.39, which is higher than the PMDIX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of PHTYX and PMDIX, 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

	PHTYX	PMDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	1.76	+0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.51	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.49	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.56	+0.14

Drawdowns

PHTYX vs. PMDIX - Drawdown Comparison

The maximum PHTYX drawdown since its inception was -30.61%, smaller than the maximum PMDIX drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for PHTYX and PMDIX.

Drawdown Indicators

	PHTYX	PMDIX	Difference
Max Drawdown Largest peak-to-trough decline	-30.61%	-46.47%	+15.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.95%	-10.55%	+2.60%
Max Drawdown (3Y) Largest decline over 3 years	-15.25%	-21.36%	+6.11%
Max Drawdown (5Y) Largest decline over 5 years	-24.94%	-21.36%	-3.58%
Max Drawdown (10Y) Largest decline over 10 years	-30.61%	-46.47%	+15.86%
Current Drawdown Current decline from peak	0.00%	-0.95%	+0.95%
Average Drawdown Average peak-to-trough decline	-4.57%	-5.30%	+0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	2.87%	-1.14%

Volatility

PHTYX vs. PMDIX - Volatility Comparison

The current volatility for Principal LifeTime Hybrid 2045 Fund (PHTYX) is 3.20%, while Principal Small-MidCap Dividend Income Fund (PMDIX) has a volatility of 3.86%. This indicates that PHTYX experiences smaller price fluctuations and is considered to be less risky than PMDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHTYX	PMDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	3.86%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	10.89%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	10.90%	14.83%	-3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	18.78%	-4.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.81%	20.26%	-5.45%

PHTYX vs. PMDIX - Expense Ratio Comparison

PHTYX has a 0.05% expense ratio, which is lower than PMDIX's 0.85% expense ratio.

Dividends

PHTYX vs. PMDIX - Dividend Comparison

PHTYX's dividend yield for the trailing twelve months is around 4.47%, more than PMDIX's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHTYX Principal LifeTime Hybrid 2045 Fund	4.47%	4.94%	4.41%	3.05%	9.68%	4.72%	3.45%	3.63%	4.66%	2.24%	2.00%	1.66%
PMDIX Principal Small-MidCap Dividend Income Fund	2.85%	3.14%	7.99%	2.37%	6.95%	0.98%	1.37%	2.82%	17.83%	5.77%	2.84%	4.78%

Frequently Asked Questions

Can I hold both PHTYX and PMDIX in my portfolio?

PHTYX and PMDIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PHTYX or PMDIX?

PMDIX has higher volatility (3.86%) compared to PHTYX (3.20%). In terms of maximum drawdown, PHTYX dropped -30.61% vs PMDIX's -46.47%.

Which has better risk-adjusted returns?

PHTYX currently has the higher Sharpe Ratio (2.39 vs 1.76), 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.