SMTSX vs. PLWIX

Last updated Jun 4, 2026

SMTSX (JPMorgan SmartRetirement 2040 Fund) and PLWIX (Principal LifeTime 2020 Fund) are both Target Retirement Date funds. Over the past 10 years, SMTSX returned 10.21%/yr vs 7.37%/yr for PLWIX. With a 0.97 correlation, they move nearly in lockstep. SMTSX charges 0.25%/yr vs 0.01%/yr for PLWIX.

Performance

SMTSX vs. PLWIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan SmartRetirement 2040 Fund (SMTSX) and Principal LifeTime 2020 Fund (PLWIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SMTSX achieves a 8.48% return, which is significantly higher than PLWIX's 4.62% return. Over the past 10 years, SMTSX has outperformed PLWIX with an annualized return of 10.21%, while PLWIX has yielded a comparatively lower 7.37% annualized return.

SMTSX

• 1D: 0.31%
• 1M: 3.75%
• YTD: 8.48%
• 6M: 8.96%
• 1Y: 20.61%
• 3Y*: 15.93%
• 5Y*: 7.83%
• 10Y*: 10.21%

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%

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

SMTSX vs. PLWIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMTSX JPMorgan SmartRetirement 2040 Fund	8.48%	16.50%	10.60%	21.23%	-17.97%	15.76%	14.94%	24.06%	-9.63%	21.76%
PLWIX Principal LifeTime 2020 Fund	4.62%	11.32%	12.21%	12.23%	-14.36%	9.05%	12.70%	18.40%	-5.72%	14.96%

Correlation

The correlation between SMTSX and PLWIX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 4, 2007	0.97

The correlation between SMTSX and PLWIX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

SMTSX vs. PLWIX — Risk / Return Rank

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

SMTSX

SMTSX Risk / Return Rank: 50
SMTSX Sharpe Ratio Rank: 49
SMTSX Sortino Ratio Rank: 48
SMTSX Omega Ratio Rank: 49
SMTSX Calmar Ratio Rank: 46
SMTSX Martin Ratio Rank: 56

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

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.

SMTSX vs. PLWIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan SmartRetirement 2040 Fund (SMTSX) and Principal LifeTime 2020 Fund (PLWIX). 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.

	SMTSX	PLWIX	Difference
Sharpe ratio: Return per unit of total volatility	2.07	2.17	-0.10
Sortino ratio: Return per unit of downside risk	2.93	3.13	-0.21
Omega ratio: Gain probability vs. loss probability	1.38	1.42	-0.03
Calmar ratio: Return relative to maximum drawdown	2.60	2.69	-0.09
Martin ratio: Return relative to average drawdown	11.29	11.98	-0.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMTSX vs. PLWIX - Sharpe Ratio Comparison

The current SMTSX Sharpe Ratio is 2.07, which is comparable to the PLWIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of SMTSX and PLWIX, 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

	SMTSX	PLWIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	2.17	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.65	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.86	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.53	-0.08

Drawdowns

SMTSX vs. PLWIX - Drawdown Comparison

The maximum SMTSX drawdown since its inception was -51.41%, roughly equal to the maximum PLWIX drawdown of -49.07%. Use the drawdown chart below to compare losses from any high point for SMTSX and PLWIX.

Drawdown Indicators

	SMTSX	PLWIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.41%	-49.07%	-2.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.04%	-4.75%	-3.29%
Max Drawdown (3Y) Largest decline over 3 years	-13.23%	-6.97%	-6.26%
Max Drawdown (5Y) Largest decline over 5 years	-24.82%	-19.73%	-5.09%
Max Drawdown (10Y) Largest decline over 10 years	-31.43%	-20.29%	-11.14%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.14%	-5.72%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.06%	+0.79%

Volatility

SMTSX vs. PLWIX - Volatility Comparison

JPMorgan SmartRetirement 2040 Fund (SMTSX) has a higher volatility of 3.12% compared to Principal LifeTime 2020 Fund (PLWIX) at 1.92%. This indicates that SMTSX's price experiences larger fluctuations and is considered to be riskier than PLWIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMTSX	PLWIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	1.92%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	8.11%	4.79%	+3.32%
Volatility (1Y) Calculated over the trailing 1-year period	10.13%	5.89%	+4.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.36%	8.24%	+5.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.43%	8.57%	+5.86%

SMTSX vs. PLWIX - Expense Ratio Comparison

SMTSX has a 0.25% expense ratio, which is higher than PLWIX's 0.01% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SMTSX vs. PLWIX - Dividend Comparison

SMTSX's dividend yield for the trailing twelve months is around 5.33%, less than PLWIX's 9.63% 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%
SMTSX JPMorgan SmartRetirement 2040 Fund	5.33%	5.78%	4.87%	1.87%	10.16%	17.65%	4.83%	11.47%	6.11%	4.10%	2.89%	3.20%

Frequently Asked Questions

Can I hold both SMTSX and PLWIX in my portfolio?

With a correlation of 0.95, SMTSX and PLWIX 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, SMTSX or PLWIX?

SMTSX has higher volatility (3.12%) compared to PLWIX (1.92%). In terms of maximum drawdown, SMTSX dropped -51.41% vs PLWIX's -49.07%.

Which has better risk-adjusted returns?

PLWIX currently has the higher Sharpe Ratio (2.17 vs 2.07), 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.