PLHHX vs. SPY

Last updated Jun 24, 2026

PLHHX (Principal LifeTime Hybrid 2065 Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - PLHHX is a Target Retirement Date fund managed by Principal, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, PLHHX returned 10.32%/yr vs 13.05%/yr for SPY. With a 0.95 correlation, they move nearly in lockstep. PLHHX charges 0.05%/yr vs 0.09%/yr for SPY.

Performance

PLHHX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LifeTime Hybrid 2065 Fund (PLHHX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLHHX achieves a 10.60% return, which is significantly higher than SPY's 8.15% return.

PLHHX

• 1D: -0.25%
• 1M: 1.54%
• YTD: 10.60%
• 6M: 9.96%
• 1Y: 25.86%
• 3Y*: 19.26%
• 5Y*: 10.32%
• 10Y*: —

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

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

PLHHX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLHHX Principal LifeTime Hybrid 2065 Fund	10.60%	19.91%	17.00%	20.33%	-18.53%	20.30%	16.50%	27.02%	-10.19%	7.77%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	9.55%

Correlation

The correlation between PLHHX and SPY 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	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 6, 2017	0.95

The correlation between PLHHX and SPY has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

PLHHX vs. SPY — Risk / Return Rank

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

PLHHX

PLHHX Risk / Return Rank: 66
PLHHX Sharpe Ratio Rank: 62
PLHHX Sortino Ratio Rank: 58
PLHHX Omega Ratio Rank: 59
PLHHX Calmar Ratio Rank: 72
PLHHX Martin Ratio Rank: 80

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

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.

PLHHX vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime Hybrid 2065 Fund (PLHHX) and State Street SPDR S&P 500 ETF (SPY). 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.

	PLHHX	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.90	+0.23
Sortino ratio: Return per unit of downside risk	2.92	2.58	+0.34
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.05
Calmar ratio: Return relative to maximum drawdown	3.13	2.67	+0.47
Martin ratio: Return relative to average drawdown	13.94	11.92	+2.02

PLHHX vs. SPY - Sharpe Ratio Comparison

The current PLHHX Sharpe Ratio is 2.13, which is comparable to the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of PLHHX and SPY, 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

PLHHX vs. SPY - Drawdown Comparison

The maximum PLHHX drawdown since its inception was -33.47%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for PLHHX and SPY.

Drawdown Indicators

	PLHHX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-33.47%	-55.19%	+21.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-8.88%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	-16.62%	-18.76%	+2.14%
Max Drawdown (5Y) Largest decline over 5 years	-25.44%	-24.50%	-0.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-0.95%	-3.17%	+2.22%
Average Drawdown Average peak-to-trough decline	-5.37%	-9.04%	+3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	1.98%	-0.04%

Volatility

PLHHX vs. SPY - Volatility Comparison

Principal LifeTime Hybrid 2065 Fund (PLHHX) and State Street SPDR S&P 500 ETF (SPY) have volatilities of 5.03% and 4.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLHHX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.03%	4.87%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	10.46%	9.85%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	12.50%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.63%	17.15%	-1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	17.95%	-1.12%

PLHHX vs. SPY - Expense Ratio Comparison

PLHHX has a 0.05% expense ratio, which is lower than SPY's 0.09% 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

PLHHX vs. SPY - Dividend Comparison

PLHHX's dividend yield for the trailing twelve months is around 3.51%, more than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLHHX Principal LifeTime Hybrid 2065 Fund	3.51%	3.88%	4.03%	2.64%	7.08%	2.27%	2.00%	1.65%	3.49%	1.87%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both PLHHX and SPY in my portfolio?

With a correlation of 0.94, PLHHX and SPY 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, PLHHX or SPY?

PLHHX has higher volatility (5.03%) compared to SPY (4.87%). In terms of maximum drawdown, PLHHX dropped -33.47% vs SPY's -55.19%.

Which has better risk-adjusted returns?

PLHHX currently has the higher Sharpe Ratio (2.13 vs 1.90), 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.