PLWIX vs. FHNDX

Last updated Jun 23, 2026

PLWIX (Principal LifeTime 2020 Fund) and FHNDX (Fidelity Freedom Blend 2020 Fund Class K6) are both Target Retirement Date funds. Over the past 5 years, PLWIX returned 5.39%/yr vs 5.23%/yr for FHNDX. With a 0.96 correlation, they move nearly in lockstep. PLWIX charges 0.01%/yr vs 0.24%/yr for FHNDX.

Performance

PLWIX vs. FHNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LifeTime 2020 Fund (PLWIX) and Fidelity Freedom Blend 2020 Fund Class K6 (FHNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLWIX achieves a 4.37% return, which is significantly lower than FHNDX's 7.58% return.

PLWIX

• 1D: 0.64%
• 1M: 1.04%
• YTD: 4.37%
• 6M: 4.36%
• 1Y: 11.89%
• 3Y*: 11.17%
• 5Y*: 5.39%
• 10Y*: 7.40%

FHNDX

• 1D: 0.89%
• 1M: 1.87%
• YTD: 7.58%
• 6M: 7.67%
• 1Y: 17.09%
• 3Y*: 11.42%
• 5Y*: 5.23%
• 10Y*: —

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

PLWIX vs. FHNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PLWIX Principal LifeTime 2020 Fund	4.37%	11.32%	12.21%	12.23%	-14.36%	9.05%	12.70%	18.40%	-8.05%
FHNDX Fidelity Freedom Blend 2020 Fund Class K6	7.58%	14.56%	7.19%	12.95%	-16.38%	8.72%	13.59%	18.58%	-6.83%

Correlation

The correlation between PLWIX and FHNDX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.96

The correlation between PLWIX and FHNDX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

PLWIX vs. FHNDX — Risk / Return Rank

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

PLWIX

PLWIX Risk / Return Rank: 51
PLWIX Sharpe Ratio Rank: 49
PLWIX Sortino Ratio Rank: 50
PLWIX Omega Ratio Rank: 52
PLWIX Calmar Ratio Rank: 47
PLWIX Martin Ratio Rank: 58

FHNDX

FHNDX Risk / Return Rank: 75
FHNDX Sharpe Ratio Rank: 75
FHNDX Sortino Ratio Rank: 74
FHNDX Omega Ratio Rank: 77
FHNDX Calmar Ratio Rank: 72
FHNDX Martin Ratio Rank: 76

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.

PLWIX vs. FHNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime 2020 Fund (PLWIX) and Fidelity Freedom Blend 2020 Fund Class K6 (FHNDX). 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.

	PLWIX	FHNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.32	-0.42
Sortino ratio: Return per unit of downside risk	2.73	3.29	-0.56
Omega ratio: Gain probability vs. loss probability	1.36	1.46	-0.10
Calmar ratio: Return relative to maximum drawdown	2.50	3.14	-0.64
Martin ratio: Return relative to average drawdown	10.94	13.40	-2.46

PLWIX vs. FHNDX - Sharpe Ratio Comparison

The current PLWIX Sharpe Ratio is 1.90, which is comparable to the FHNDX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of PLWIX and FHNDX, 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

PLWIX vs. FHNDX - Drawdown Comparison

The maximum PLWIX drawdown since its inception was -49.07%, which is greater than FHNDX's maximum drawdown of -22.68%. Use the drawdown chart below to compare losses from any high point for PLWIX and FHNDX.

Drawdown Indicators

	PLWIX	FHNDX	Difference
Max Drawdown Largest peak-to-trough decline	-49.07%	-22.68%	-26.39%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	-5.46%	+0.71%
Max Drawdown (3Y) Largest decline over 3 years	-6.97%	-7.87%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-19.73%	-22.68%	+2.95%
Max Drawdown (10Y) Largest decline over 10 years	-20.29%	—	—
Current Drawdown Current decline from peak	-0.24%	0.00%	-0.24%
Average Drawdown Average peak-to-trough decline	-5.71%	-4.76%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.27%	-0.19%

Volatility

PLWIX vs. FHNDX - Volatility Comparison

The current volatility for Principal LifeTime 2020 Fund (PLWIX) is 2.53%, while Fidelity Freedom Blend 2020 Fund Class K6 (FHNDX) has a volatility of 3.24%. This indicates that PLWIX experiences smaller price fluctuations and is considered to be less risky than FHNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLWIX	FHNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	3.24%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	5.22%	6.34%	-1.12%
Volatility (1Y) Calculated over the trailing 1-year period	6.25%	7.39%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.29%	9.03%	-0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.58%	9.74%	-1.16%

PLWIX vs. FHNDX - Expense Ratio Comparison

PLWIX has a 0.01% expense ratio, which is lower than FHNDX's 0.24% 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

PLWIX vs. FHNDX - Dividend Comparison

PLWIX's dividend yield for the trailing twelve months is around 9.66%, more than FHNDX's 3.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHNDX Fidelity Freedom Blend 2020 Fund Class K6	3.53%	2.77%	2.62%	2.66%	5.94%	7.22%	4.45%	3.01%	1.37%	0.00%	0.00%	0.00%
PLWIX Principal LifeTime 2020 Fund	9.66%	10.08%	11.91%	5.12%	9.82%	9.40%	5.90%	8.69%	7.35%	5.74%	3.73%	8.75%

Frequently Asked Questions

Can I hold both PLWIX and FHNDX in my portfolio?

With a correlation of 0.96, PLWIX and FHNDX 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, PLWIX or FHNDX?

FHNDX has higher volatility (3.24%) compared to PLWIX (2.53%). In terms of maximum drawdown, PLWIX dropped -49.07% vs FHNDX's -22.68%.

Which has better risk-adjusted returns?

FHNDX currently has the higher Sharpe Ratio (2.32 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.