PLTQX vs. PCBIX

Last updated Jun 4, 2026

PLTQX (Principal LifeTime Hybrid 2040 Fund) and PCBIX (Principal MidCap Fund Institutional Class) are both mutual funds - PLTQX is a Target Retirement Date fund managed by Principal, while PCBIX is a Mid Cap Growth Equities fund managed by Principal. Over the past 10 years, PLTQX returned 10.54%/yr vs 11.85%/yr for PCBIX. Their correlation of 0.89 suggests significant overlap in exposure. PLTQX charges 0.05%/yr vs 0.67%/yr for PCBIX.

Performance

PLTQX vs. PCBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LifeTime Hybrid 2040 Fund (PLTQX) and Principal MidCap Fund Institutional Class (PCBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLTQX achieves a 9.40% return, which is significantly higher than PCBIX's -7.38% return. Over the past 10 years, PLTQX has underperformed PCBIX with an annualized return of 10.54%, while PCBIX has yielded a comparatively higher 11.85% annualized return.

PLTQX

• 1D: 0.39%
• 1M: 4.46%
• YTD: 9.40%
• 6M: 9.81%
• 1Y: 23.24%
• 3Y*: 17.04%
• 5Y*: 8.71%
• 10Y*: 10.54%

PCBIX

• 1D: -0.58%
• 1M: 1.88%
• YTD: -7.38%
• 6M: -7.97%
• 1Y: -8.67%
• 3Y*: 10.22%
• 5Y*: 5.18%
• 10Y*: 11.85%

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

PLTQX vs. PCBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLTQX Principal LifeTime Hybrid 2040 Fund	9.40%	17.25%	14.58%	18.16%	-17.90%	17.09%	15.41%	23.86%	-8.61%	19.16%
PCBIX Principal MidCap Fund Institutional Class	-7.38%	1.62%	23.63%	25.92%	-23.16%	25.22%	18.25%	49.40%	-6.86%	25.32%

Correlation

The correlation between PLTQX and PCBIX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Oct 2, 2014	0.89

The correlation between PLTQX and PCBIX shifts across timeframes, from 0.70 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PLTQX vs. PCBIX — Risk / Return Rank

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

PLTQX

PLTQX Risk / Return Rank: 69
PLTQX Sharpe Ratio Rank: 66
PLTQX Sortino Ratio Rank: 65
PLTQX Omega Ratio Rank: 65
PLTQX Calmar Ratio Rank: 70
PLTQX Martin Ratio Rank: 79

PCBIX

PCBIX Risk / Return Rank: 1
PCBIX Sharpe Ratio Rank: 1
PCBIX Sortino Ratio Rank: 1
PCBIX Omega Ratio Rank: 1
PCBIX Calmar Ratio Rank: 1
PCBIX Martin Ratio Rank: 1

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.

PLTQX vs. PCBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime Hybrid 2040 Fund (PLTQX) and Principal MidCap Fund Institutional Class (PCBIX). 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.

	PLTQX	PCBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	-0.59	+2.97
Sortino ratio: Return per unit of downside risk	3.37	-0.75	+4.12
Omega ratio: Gain probability vs. loss probability	1.45	0.92	+0.53
Calmar ratio: Return relative to maximum drawdown	3.26	-0.43	+3.69
Martin ratio: Return relative to average drawdown	14.92	-0.96	+15.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLTQX vs. PCBIX - Sharpe Ratio Comparison

The current PLTQX Sharpe Ratio is 2.39, which is higher than the PCBIX Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of PLTQX and PCBIX, 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

	PLTQX	PCBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	-0.59	+2.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.28	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.62	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.60	+0.11

Drawdowns

PLTQX vs. PCBIX - Drawdown Comparison

The maximum PLTQX drawdown since its inception was -29.05%, smaller than the maximum PCBIX drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for PLTQX and PCBIX.

Drawdown Indicators

	PLTQX	PCBIX	Difference
Max Drawdown Largest peak-to-trough decline	-29.05%	-50.25%	+21.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-19.29%	+12.00%
Max Drawdown (3Y) Largest decline over 3 years	-13.75%	-19.29%	+5.54%
Max Drawdown (5Y) Largest decline over 5 years	-24.18%	-31.17%	+6.99%
Max Drawdown (10Y) Largest decline over 10 years	-29.05%	-40.56%	+11.51%
Current Drawdown Current decline from peak	0.00%	-13.43%	+13.43%
Average Drawdown Average peak-to-trough decline	-4.41%	-6.55%	+2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	8.66%	-7.07%

Volatility

PLTQX vs. PCBIX - Volatility Comparison

The current volatility for Principal LifeTime Hybrid 2040 Fund (PLTQX) is 2.91%, while Principal MidCap Fund Institutional Class (PCBIX) has a volatility of 4.07%. This indicates that PLTQX experiences smaller price fluctuations and is considered to be less risky than PCBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLTQX	PCBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	4.07%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	7.91%	11.13%	-3.22%
Volatility (1Y) Calculated over the trailing 1-year period	9.94%	14.21%	-4.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.38%	18.63%	-5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.80%	19.15%	-5.35%

PLTQX vs. PCBIX - Expense Ratio Comparison

PLTQX has a 0.05% expense ratio, which is lower than PCBIX's 0.67% expense ratio.

Dividends

PLTQX vs. PCBIX - Dividend Comparison

PLTQX's dividend yield for the trailing twelve months is around 4.11%, less than PCBIX's 6.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PCBIX Principal MidCap Fund Institutional Class	6.28%	5.81%	6.40%	2.51%	3.18%	7.96%	1.08%	9.02%	12.24%	3.31%	2.49%	6.30%
PLTQX Principal LifeTime Hybrid 2040 Fund	4.11%	4.50%	4.19%	3.14%	8.95%	5.00%	3.85%	3.84%	4.47%	2.37%	2.34%	1.65%

Frequently Asked Questions

Can I hold both PLTQX and PCBIX in my portfolio?

PLTQX and PCBIX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTQX or PCBIX?

PCBIX has higher volatility (4.07%) compared to PLTQX (2.91%). In terms of maximum drawdown, PLTQX dropped -29.05% vs PCBIX's -50.25%.

Which has better risk-adjusted returns?

PLTQX currently has the higher Sharpe Ratio (2.39 vs -0.59), 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.