SWMRX vs. PMTIX

Last updated Jun 4, 2026

SWMRX (Schwab Target 2045 Fund) and PMTIX (Principal LifeTime 2030 Fund) are both Target Retirement Date funds. Over the past 10 years, SWMRX returned 10.74%/yr vs 8.80%/yr for PMTIX. With a 0.96 correlation, they move nearly in lockstep. SWMRX charges 0.00%/yr vs 0.01%/yr for PMTIX.

Performance

SWMRX vs. PMTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Target 2045 Fund (SWMRX) and Principal LifeTime 2030 Fund (PMTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWMRX achieves a 10.30% return, which is significantly higher than PMTIX's 6.02% return. Over the past 10 years, SWMRX has outperformed PMTIX with an annualized return of 10.74%, while PMTIX has yielded a comparatively lower 8.80% annualized return.

SWMRX

• 1D: 0.19%
• 1M: 4.24%
• YTD: 10.30%
• 6M: 10.94%
• 1Y: 24.55%
• 3Y*: 17.71%
• 5Y*: 8.77%
• 10Y*: 10.74%

PMTIX

• 1D: 0.26%
• 1M: 2.99%
• YTD: 6.02%
• 6M: 6.25%
• 1Y: 15.56%
• 3Y*: 13.63%
• 5Y*: 6.27%
• 10Y*: 8.80%

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

SWMRX vs. PMTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWMRX Schwab Target 2045 Fund	10.30%	18.84%	13.37%	20.10%	-19.24%	16.85%	14.95%	23.95%	-9.82%	21.39%
PMTIX Principal LifeTime 2030 Fund	6.02%	13.25%	12.86%	15.11%	-16.81%	12.70%	14.71%	22.40%	-7.45%	18.41%

Correlation

The correlation between SWMRX and PMTIX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.94
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 24, 2013	0.96

The correlation between SWMRX and PMTIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

SWMRX vs. PMTIX — Risk / Return Rank

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

SWMRX

SWMRX Risk / Return Rank: 60
SWMRX Sharpe Ratio Rank: 61
SWMRX Sortino Ratio Rank: 58
SWMRX Omega Ratio Rank: 57
SWMRX Calmar Ratio Rank: 57
SWMRX Martin Ratio Rank: 66

PMTIX

PMTIX Risk / Return Rank: 53
PMTIX Sharpe Ratio Rank: 50
PMTIX Sortino Ratio Rank: 51
PMTIX Omega Ratio Rank: 52
PMTIX Calmar Ratio Rank: 51
PMTIX Martin Ratio Rank: 61

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.

SWMRX vs. PMTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2045 Fund (SWMRX) and Principal LifeTime 2030 Fund (PMTIX). 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.

	SWMRX	PMTIX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.09	+0.21
Sortino ratio: Return per unit of downside risk	3.20	3.01	+0.19
Omega ratio: Gain probability vs. loss probability	1.42	1.40	+0.02
Calmar ratio: Return relative to maximum drawdown	2.89	2.71	+0.17
Martin ratio: Return relative to average drawdown	12.72	12.06	+0.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWMRX vs. PMTIX - Sharpe Ratio Comparison

The current SWMRX Sharpe Ratio is 2.30, which is comparable to the PMTIX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of SWMRX and PMTIX, 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

	SWMRX	PMTIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	2.09	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.60	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.79	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.49	+0.20

Drawdowns

SWMRX vs. PMTIX - Drawdown Comparison

The maximum SWMRX drawdown since its inception was -30.41%, smaller than the maximum PMTIX drawdown of -52.14%. Use the drawdown chart below to compare losses from any high point for SWMRX and PMTIX.

Drawdown Indicators

	SWMRX	PMTIX	Difference
Max Drawdown Largest peak-to-trough decline	-30.41%	-52.14%	+21.73%
Max Drawdown (1Y) Largest decline over 1 year	-8.62%	-5.85%	-2.77%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-9.62%	-4.58%
Max Drawdown (5Y) Largest decline over 5 years	-30.12%	-23.05%	-7.07%
Max Drawdown (10Y) Largest decline over 10 years	-30.41%	-25.87%	-4.54%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.17%	-6.79%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.31%	+0.64%

Volatility

SWMRX vs. PMTIX - Volatility Comparison

Schwab Target 2045 Fund (SWMRX) has a higher volatility of 3.17% compared to Principal LifeTime 2030 Fund (PMTIX) at 2.40%. This indicates that SWMRX's price experiences larger fluctuations and is considered to be riskier than PMTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWMRX	PMTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	2.40%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	8.54%	6.15%	+2.39%
Volatility (1Y) Calculated over the trailing 1-year period	10.84%	7.61%	+3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.41%	10.55%	+4.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.50%	11.22%	+4.28%

SWMRX vs. PMTIX - Expense Ratio Comparison

SWMRX has a 0.00% expense ratio, which is lower than PMTIX's 0.01% 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

SWMRX vs. PMTIX - Dividend Comparison

SWMRX's dividend yield for the trailing twelve months is around 4.69%, less than PMTIX's 9.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMTIX Principal LifeTime 2030 Fund	9.14%	9.69%	9.60%	4.26%	10.05%	8.87%	6.37%	6.49%	8.21%	5.87%	3.97%	9.44%
SWMRX Schwab Target 2045 Fund	4.69%	5.18%	3.14%	2.98%	7.88%	5.18%	2.45%	5.46%	6.63%	2.79%	5.28%	5.76%

Frequently Asked Questions

Can I hold both SWMRX and PMTIX in my portfolio?

With a correlation of 0.97, SWMRX and PMTIX 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, SWMRX or PMTIX?

SWMRX has higher volatility (3.17%) compared to PMTIX (2.40%). In terms of maximum drawdown, SWMRX dropped -30.41% vs PMTIX's -52.14%.

Which has better risk-adjusted returns?

SWMRX currently has the higher Sharpe Ratio (2.30 vs 2.09), 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.