PLWIX vs. SWYOX

Last updated Jun 4, 2026

PLWIX (Principal LifeTime 2020 Fund) and SWYOX (Schwab Target 2065 Index Fund) are both Target Retirement Date funds. Over the past 5 years, PLWIX returned 5.37%/yr vs 10.74%/yr for SWYOX. Their correlation of 0.93 suggests significant overlap in exposure. PLWIX charges 0.01%/yr vs 0.04%/yr for SWYOX.

Performance

PLWIX vs. SWYOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LifeTime 2020 Fund (PLWIX) and Schwab Target 2065 Index Fund (SWYOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLWIX achieves a 4.62% return, which is significantly lower than SWYOX's 13.13% return.

PLWIX

• 1D: 0.24%
• 1M: 2.26%
• YTD: 4.62%
• 6M: 4.75%
• 1Y: 12.52%
• 3Y*: 11.76%
• 5Y*: 5.37%
• 10Y*: 7.37%

SWYOX

• 1D: 0.36%
• 1M: 5.35%
• YTD: 13.13%
• 6M: 13.75%
• 1Y: 29.00%
• 3Y*: 20.24%
• 5Y*: 10.74%
• 10Y*: —

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

PLWIX vs. SWYOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PLWIX Principal LifeTime 2020 Fund	4.62%	11.32%	12.21%	12.23%	-14.36%	8.60%
SWYOX Schwab Target 2065 Index Fund	13.13%	20.48%	14.95%	21.61%	-17.90%	16.04%

Correlation

The correlation between PLWIX and SWYOX 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	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 9, 2021	0.93

The correlation between PLWIX and SWYOX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

PLWIX vs. SWYOX — Risk / Return Rank

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

PLWIX

PLWIX Risk / Return Rank: 55
PLWIX Sharpe Ratio Rank: 54
PLWIX Sortino Ratio Rank: 55
PLWIX Omega Ratio Rank: 57
PLWIX Calmar Ratio Rank: 49
PLWIX Martin Ratio Rank: 60

SWYOX

SWYOX Risk / Return Rank: 69
SWYOX Sharpe Ratio Rank: 70
SWYOX Sortino Ratio Rank: 65
SWYOX Omega Ratio Rank: 62
SWYOX Calmar Ratio Rank: 70
SWYOX Martin Ratio Rank: 77

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. SWYOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime 2020 Fund (PLWIX) and Schwab Target 2065 Index Fund (SWYOX). 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.

	PLWIX	SWYOX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.44	-0.28
Sortino ratio: Return per unit of downside risk	3.13	3.37	-0.24
Omega ratio: Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	2.69	3.24	-0.55
Martin ratio: Return relative to average drawdown	11.98	14.44	-2.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLWIX vs. SWYOX - Sharpe Ratio Comparison

The current PLWIX Sharpe Ratio is 2.17, which is comparable to the SWYOX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of PLWIX and SWYOX, 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

	PLWIX	SWYOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.44	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.69	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.78	-0.25

Drawdowns

PLWIX vs. SWYOX - Drawdown Comparison

The maximum PLWIX drawdown since its inception was -49.07%, which is greater than SWYOX's maximum drawdown of -26.02%. Use the drawdown chart below to compare losses from any high point for PLWIX and SWYOX.

Drawdown Indicators

	PLWIX	SWYOX	Difference
Max Drawdown Largest peak-to-trough decline	-49.07%	-26.02%	-23.05%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	-9.13%	+4.38%
Max Drawdown (3Y) Largest decline over 3 years	-6.97%	-16.05%	+9.08%
Max Drawdown (5Y) Largest decline over 5 years	-19.73%	-26.02%	+6.29%
Max Drawdown (10Y) Largest decline over 10 years	-20.29%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.72%	-5.72%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	2.04%	-0.98%

Volatility

PLWIX vs. SWYOX - Volatility Comparison

The current volatility for Principal LifeTime 2020 Fund (PLWIX) is 1.92%, while Schwab Target 2065 Index Fund (SWYOX) has a volatility of 3.62%. This indicates that PLWIX experiences smaller price fluctuations and is considered to be less risky than SWYOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLWIX	SWYOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	3.62%	-1.70%
Volatility (6M) Calculated over the trailing 6-month period	4.79%	9.60%	-4.81%
Volatility (1Y) Calculated over the trailing 1-year period	5.89%	12.11%	-6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.24%	15.58%	-7.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.57%	15.44%	-6.87%

PLWIX vs. SWYOX - Expense Ratio Comparison

PLWIX has a 0.01% expense ratio, which is lower than SWYOX's 0.04% 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. SWYOX - Dividend Comparison

PLWIX's dividend yield for the trailing twelve months is around 9.63%, more than SWYOX's 1.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLWIX Principal LifeTime 2020 Fund	9.63%	10.08%	11.91%	5.12%	9.82%	9.40%	5.90%	8.69%	7.35%	5.74%	3.73%	8.75%
SWYOX Schwab Target 2065 Index Fund	1.65%	1.87%	1.76%	1.82%	1.80%	1.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PLWIX and SWYOX in my portfolio?

With a correlation of 0.94, PLWIX and SWYOX 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 SWYOX?

SWYOX has higher volatility (3.62%) compared to PLWIX (1.92%). In terms of maximum drawdown, PLWIX dropped -49.07% vs SWYOX's -26.02%.

Which has better risk-adjusted returns?

SWYOX currently has the higher Sharpe Ratio (2.44 vs 2.17), 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.