PLZTX vs. FIRVX

Last updated Jun 20, 2026

PLZTX (Principal LifeTime Hybrid 2030 Fund R-6) and FIRVX (Fidelity Managed Retirement 2020 Fund) are both Target Retirement Date funds. Over the past 10 years, PLZTX returned 8.81%/yr vs 176.04%/yr for FIRVX. Their correlation of 0.94 suggests significant overlap in exposure. PLZTX charges 0.33%/yr vs 0.47%/yr for FIRVX.

Performance

PLZTX vs. FIRVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LifeTime Hybrid 2030 Fund R-6 (PLZTX) and Fidelity Managed Retirement 2020 Fund (FIRVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PLZTX achieves a 6.75% return, which is significantly lower than FIRVX's 1,440,933.92% return. Over the past 10 years, PLZTX has underperformed FIRVX with an annualized return of 8.81%, while FIRVX has yielded a comparatively higher 176.04% annualized return.

PLZTX

• 1D: 0.85%
• 1M: 1.46%
• YTD: 6.75%
• 6M: 7.03%
• 1Y: 17.71%
• 3Y*: 12.79%
• 5Y*: 6.72%
• 10Y*: 8.81%

FIRVX

• 1D: 1,371,718.18%
• 1M: 1,383,590.54%
• YTD: 1,440,933.92%
• 6M: 1,444,934.29%
• 1Y: 1,545,588.89%
• 3Y*: 2,512.79%
• 5Y*: 597.67%
• 10Y*: 176.04%

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

PLZTX vs. FIRVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLZTX Principal LifeTime Hybrid 2030 Fund R-6	6.75%	14.46%	11.11%	14.97%	-16.74%	13.93%	14.79%	20.97%	-7.35%	16.71%
FIRVX Fidelity Managed Retirement 2020 Fund	1,440,933.92%	12.25%	5.86%	10.72%	-14.63%	6.77%	12.06%	16.19%	-4.45%	13.32%

Correlation

The correlation between PLZTX and FIRVX 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	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 31, 2015	0.94

The correlation between PLZTX and FIRVX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

PLZTX vs. FIRVX — Risk / Return Rank

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

PLZTX

PLZTX Risk / Return Rank: 69
PLZTX Sharpe Ratio Rank: 65
PLZTX Sortino Ratio Rank: 64
PLZTX Omega Ratio Rank: 67
PLZTX Calmar Ratio Rank: 70
PLZTX Martin Ratio Rank: 78

FIRVX

FIRVX Risk / Return Rank: 84
FIRVX Sharpe Ratio Rank: 19
FIRVX Sortino Ratio Rank: 100
FIRVX Omega Ratio Rank: 100
FIRVX Calmar Ratio Rank: 100
FIRVX Martin Ratio Rank: 100

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.

PLZTX vs. FIRVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime Hybrid 2030 Fund R-6 (PLZTX) and Fidelity Managed Retirement 2020 Fund (FIRVX). 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.

	PLZTX	FIRVX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.17	+0.96
Sortino ratio: Return per unit of downside risk	3.01	351,355.56	-351,352.55
Omega ratio: Gain probability vs. loss probability	1.41	49,085.82	-49,084.41
Calmar ratio: Return relative to maximum drawdown	3.04	356,370.91	-356,367.86
Martin ratio: Return relative to average drawdown	13.42	1,512,145.77	-1,512,132.35

PLZTX vs. FIRVX - Sharpe Ratio Comparison

The current PLZTX Sharpe Ratio is 2.13, which is higher than the FIRVX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of PLZTX and FIRVX, 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

PLZTX vs. FIRVX - Drawdown Comparison

The maximum PLZTX drawdown since its inception was -24.54%, smaller than the maximum FIRVX drawdown of -40.59%. Use the drawdown chart below to compare losses from any high point for PLZTX and FIRVX.

Drawdown Indicators

	PLZTX	FIRVX	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-40.59%	+16.05%
Max Drawdown (1Y) Largest decline over 1 year	-5.73%	-4.51%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	-10.07%	-6.52%	-3.55%
Max Drawdown (5Y) Largest decline over 5 years	-21.95%	-20.10%	-1.85%
Max Drawdown (10Y) Largest decline over 10 years	-24.54%	-20.10%	-4.44%
Current Drawdown Current decline from peak	-0.39%	0.00%	-0.39%
Average Drawdown Average peak-to-trough decline	-3.90%	-4.97%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	1.06%	+0.24%

Volatility

PLZTX vs. FIRVX - Volatility Comparison

The current volatility for Principal LifeTime Hybrid 2030 Fund R-6 (PLZTX) is 3.36%, while Fidelity Managed Retirement 2020 Fund (FIRVX) has a volatility of 952.63%. This indicates that PLZTX experiences smaller price fluctuations and is considered to be less risky than FIRVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PLZTX	FIRVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	952.63%	-949.27%
Volatility (6M) Calculated over the trailing 6-month period	6.84%	952.62%	-945.78%
Volatility (1Y) Calculated over the trailing 1-year period	8.20%	1,374,447.92%	-1,374,439.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.56%	614,671.81%	-614,661.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.25%	434,465.54%	-434,454.29%

PLZTX vs. FIRVX - Expense Ratio Comparison

PLZTX has a 0.33% expense ratio, which is lower than FIRVX's 0.47% expense ratio.

Dividends

PLZTX vs. FIRVX - Dividend Comparison

PLZTX's dividend yield for the trailing twelve months is around 4.36%, less than FIRVX's 102.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRVX Fidelity Managed Retirement 2020 Fund	102.87%	2.83%	2.74%	2.57%	3.52%	4.61%	3.74%	3.18%	6.90%	25.16%	2.28%	4.45%
PLZTX Principal LifeTime Hybrid 2030 Fund R-6	4.36%	4.66%	3.75%	3.45%	8.09%	5.44%	4.48%	3.73%	3.83%	2.54%	2.28%	1.68%

Frequently Asked Questions

Can I hold both PLZTX and FIRVX in my portfolio?

With a correlation of 0.94, PLZTX and FIRVX 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, PLZTX or FIRVX?

FIRVX has higher volatility (952.63%) compared to PLZTX (3.36%). In terms of maximum drawdown, PLZTX dropped -24.54% vs FIRVX's -40.59%.

Which has better risk-adjusted returns?

PLZTX currently has the higher Sharpe Ratio (2.13 vs 1.17), 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.