PRZZX vs. PDAHX
PRZZX (Putnam RetirementReady 2040 Fund) and PDAHX (Prudential Day One Income Fund) are both Target Retirement Date funds. Over the past 5 years, PRZZX returned 7.44%/yr vs 4.61%/yr for PDAHX. Their correlation of 0.81 suggests significant overlap in exposure. PRZZX charges 0.05%/yr vs 0.16%/yr for PDAHX.
Performance
PRZZX vs. PDAHX - Performance Comparison
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Returns By Period
In the year-to-date period, PRZZX achieves a 5.43% return, which is significantly higher than PDAHX's 4.65% return.
PRZZX
- 1D
- -0.06%
- 1M
- 1.27%
- YTD
- 5.43%
- 6M
- 4.90%
- 1Y
- 14.41%
- 3Y*
- 13.25%
- 5Y*
- 7.44%
- 10Y*
- 9.05%
PDAHX
- 1D
- -0.28%
- 1M
- -0.09%
- YTD
- 4.65%
- 6M
- 4.51%
- 1Y
- 10.55%
- 3Y*
- 9.47%
- 5Y*
- 4.61%
- 10Y*
- —
PRZZX vs. PDAHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRZZX Putnam RetirementReady 2040 Fund | 5.43% | 11.23% | 11.08% | 20.18% | -12.11% | 12.66% | 10.18% | 17.92% | -8.50% | 18.23% |
PDAHX Prudential Day One Income Fund | 4.65% | 10.37% | 8.27% | 8.89% | -11.69% | 9.21% | 8.22% | 13.58% | -3.26% | 8.25% |
Correlation
The correlation between PRZZX and PDAHX is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.81 |
The correlation between PRZZX and PDAHX has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.
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Return for Risk
PRZZX vs. PDAHX — Risk / Return Rank
PRZZX
PDAHX
PRZZX vs. PDAHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam RetirementReady 2040 Fund (PRZZX) and Prudential Day One Income Fund (PDAHX). 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.
| PRZZX | PDAHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.46 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 3.11 | -1.01 |
| Martin ratioReturn relative to average drawdown | 8.44 | 14.46 | -6.02 |
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Drawdowns
PRZZX vs. PDAHX - Drawdown Comparison
The maximum PRZZX drawdown since its inception was -23.93%, which is greater than PDAHX's maximum drawdown of -15.65%. Use the drawdown chart below to compare losses from any high point for PRZZX and PDAHX.
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Drawdown Indicators
| PRZZX | PDAHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -15.65% | -8.28% |
Max Drawdown (1Y)Largest decline over 1 year | -7.21% | -3.51% | -3.70% |
Max Drawdown (3Y)Largest decline over 3 years | -15.36% | -5.61% | -9.75% |
Max Drawdown (5Y)Largest decline over 5 years | -17.08% | -15.65% | -1.43% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | — | — |
Current DrawdownCurrent decline from peak | -0.36% | -0.73% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -3.26% | -2.66% | -0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 0.75% | +1.04% |
Volatility
PRZZX vs. PDAHX - Volatility Comparison
Putnam RetirementReady 2040 Fund (PRZZX) has a higher volatility of 3.68% compared to Prudential Day One Income Fund (PDAHX) at 1.71%. This indicates that PRZZX's price experiences larger fluctuations and is considered to be riskier than PDAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRZZX | PDAHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 1.71% | +1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 7.55% | 3.73% | +3.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.45% | 4.61% | +4.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.97% | 6.57% | +4.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.33% | 6.39% | +4.94% |
PRZZX vs. PDAHX - Expense Ratio Comparison
PRZZX has a 0.05% expense ratio, which is lower than PDAHX's 0.16% 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
PRZZX vs. PDAHX - Dividend Comparison
PRZZX's dividend yield for the trailing twelve months is around 1.82%, less than PDAHX's 4.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PDAHX Prudential Day One Income Fund | 4.87% | 4.92% | 7.35% | 3.54% | 7.78% | 7.72% | 2.22% | 4.25% | 3.70% | 1.88% | 0.00% | 0.00% |
PRZZX Putnam RetirementReady 2040 Fund | 1.82% | 1.92% | 1.69% | 1.88% | 14.10% | 8.92% | 1.69% | 5.15% | 9.81% | 4.19% | 0.38% | 2.24% |
Frequently Asked Questions
PRZZX and PDAHX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRZZX has higher volatility (3.68%) compared to PDAHX (1.71%). In terms of maximum drawdown, PRZZX dropped -23.93% vs PDAHX's -15.65%.
PDAHX currently has the higher Sharpe Ratio (2.37 vs 1.61), 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.
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