PTDIX vs. SRCMX

Last updated Jun 23, 2026

PTDIX (Principal LifeTime 2040 Fund) and SRCMX (Principal California Municipal Fund) are both mutual funds - PTDIX is a Target Retirement Date fund managed by Principal, while SRCMX is a Municipal Bonds fund managed by Principal. Over the past 10 years, PTDIX returned 10.60%/yr vs 1.83%/yr for SRCMX. At a correlation of -0.07, they often move in opposite directions. PTDIX charges 0.01%/yr vs 0.72%/yr for SRCMX.

Performance

PTDIX vs. SRCMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LifeTime 2040 Fund (PTDIX) and Principal California Municipal Fund (SRCMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTDIX achieves a 7.32% return, which is significantly higher than SRCMX's 1.54% return. Over the past 10 years, PTDIX has outperformed SRCMX with an annualized return of 10.60%, while SRCMX has yielded a comparatively lower 1.83% annualized return.

PTDIX

• 1D: 1.02%
• 1M: 1.53%
• YTD: 7.32%
• 6M: 7.21%
• 1Y: 18.66%
• 3Y*: 16.00%
• 5Y*: 8.36%
• 10Y*: 10.60%

SRCMX

• 1D: 0.00%
• 1M: 1.64%
• YTD: 1.54%
• 6M: 1.96%
• 1Y: 6.27%
• 3Y*: 3.81%
• 5Y*: 0.38%
• 10Y*: 1.83%

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

PTDIX vs. SRCMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTDIX Principal LifeTime 2040 Fund	7.32%	15.59%	17.43%	18.33%	-18.13%	15.35%	16.04%	24.91%	-7.95%	20.69%
SRCMX Principal California Municipal Fund	1.54%	4.39%	2.66%	5.03%	-11.08%	1.91%	4.85%	8.67%	-0.19%	6.89%

Correlation

The correlation between PTDIX and SRCMX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Mar 2, 2001	-0.07

The correlation between PTDIX and SRCMX shifts across timeframes, from -0.07 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PTDIX vs. SRCMX — Risk / Return Rank

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

PTDIX

PTDIX Risk / Return Rank: 47
PTDIX Sharpe Ratio Rank: 42
PTDIX Sortino Ratio Rank: 41
PTDIX Omega Ratio Rank: 43
PTDIX Calmar Ratio Rank: 48
PTDIX Martin Ratio Rank: 58

SRCMX

SRCMX Risk / Return Rank: 67
SRCMX Sharpe Ratio Rank: 81
SRCMX Sortino Ratio Rank: 87
SRCMX Omega Ratio Rank: 91
SRCMX Calmar Ratio Rank: 38
SRCMX Martin Ratio Rank: 38

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.

PTDIX vs. SRCMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LifeTime 2040 Fund (PTDIX) and Principal California Municipal Fund (SRCMX). 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.

	PTDIX	SRCMX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.42	-0.64
Sortino ratio: Return per unit of downside risk	2.51	3.84	-1.33
Omega ratio: Gain probability vs. loss probability	1.33	1.64	-0.31
Calmar ratio: Return relative to maximum drawdown	2.52	2.24	+0.28
Martin ratio: Return relative to average drawdown	10.99	7.87	+3.11

PTDIX vs. SRCMX - Sharpe Ratio Comparison

The current PTDIX Sharpe Ratio is 1.78, which is comparable to the SRCMX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of PTDIX and SRCMX, 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

PTDIX vs. SRCMX - Drawdown Comparison

The maximum PTDIX drawdown since its inception was -54.38%, which is greater than SRCMX's maximum drawdown of -23.64%. Use the drawdown chart below to compare losses from any high point for PTDIX and SRCMX.

Drawdown Indicators

	PTDIX	SRCMX	Difference
Max Drawdown Largest peak-to-trough decline	-54.38%	-23.64%	-30.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.32%	-2.81%	-4.51%
Max Drawdown (3Y) Largest decline over 3 years	-13.05%	-4.75%	-8.30%
Max Drawdown (5Y) Largest decline over 5 years	-25.43%	-16.07%	-9.36%
Max Drawdown (10Y) Largest decline over 10 years	-30.02%	-16.07%	-13.95%
Current Drawdown Current decline from peak	-0.45%	-0.24%	-0.21%
Average Drawdown Average peak-to-trough decline	-7.48%	-2.66%	-4.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	0.80%	+0.88%

Volatility

PTDIX vs. SRCMX - Volatility Comparison

Principal LifeTime 2040 Fund (PTDIX) has a higher volatility of 4.05% compared to Principal California Municipal Fund (SRCMX) at 0.73%. This indicates that PTDIX's price experiences larger fluctuations and is considered to be riskier than SRCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTDIX	SRCMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.05%	0.73%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	1.99%	+6.57%
Volatility (1Y) Calculated over the trailing 1-year period	10.36%	2.60%	+7.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.58%	3.50%	+10.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.86%	4.14%	+9.72%

PTDIX vs. SRCMX - Expense Ratio Comparison

PTDIX has a 0.01% expense ratio, which is lower than SRCMX's 0.72% expense ratio.

Dividends

PTDIX vs. SRCMX - Dividend Comparison

PTDIX's dividend yield for the trailing twelve months is around 9.13%, more than SRCMX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PTDIX Principal LifeTime 2040 Fund	9.13%	9.80%	12.28%	4.40%	8.61%	8.92%	6.01%	7.26%	9.28%	6.07%	4.86%	6.73%
SRCMX Principal California Municipal Fund	3.47%	4.24%	3.34%	2.31%	2.21%	2.08%	1.94%	2.85%	3.19%	3.16%	3.02%	4.50%

Frequently Asked Questions

Can I hold both PTDIX and SRCMX in my portfolio?

PTDIX and SRCMX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTDIX or SRCMX?

PTDIX has higher volatility (4.05%) compared to SRCMX (0.73%). In terms of maximum drawdown, PTDIX dropped -54.38% vs SRCMX's -23.64%.

Which has better risk-adjusted returns?

SRCMX currently has the higher Sharpe Ratio (2.42 vs 1.78), 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.