TRLAX vs. PTDIX

Last updated Apr 2, 2026

Compare and contrast key facts about T. Rowe Price Retirement Income 2020 Fund (TRLAX) and Principal LifeTime 2040 Fund (PTDIX).

TRLAX is managed by T. Rowe Price. It was launched on May 24, 2017. PTDIX is managed by Principal. It was launched on Feb 28, 2001.

Performance

TRLAX vs. PTDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement Income 2020 Fund (TRLAX) and Principal LifeTime 2040 Fund (PTDIX). The values are adjusted to include any dividend payments, if applicable.

TRLAX vs. PTDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRLAX T. Rowe Price Retirement Income 2020 Fund	-0.89%	10.92%	8.74%	12.89%	-16.59%	10.45%	13.48%	19.08%	-4.95%	5.22%
PTDIX Principal LifeTime 2040 Fund	-1.98%	15.59%	17.43%	18.33%	-18.13%	15.35%	16.04%	24.91%	-7.95%	9.79%

Returns By Period

In the year-to-date period, TRLAX achieves a -0.89% return, which is significantly higher than PTDIX's -1.98% return.

TRLAX

• 1D: 1.57%
• 1M: -3.71%
• YTD: -0.89%
• 6M: 0.68%
• 1Y: 9.93%
• 3Y*: 8.87%
• 5Y*: 3.66%
• 10Y*: —

PTDIX

• 1D: 2.32%
• 1M: -4.50%
• YTD: -1.98%
• 6M: -0.35%
• 1Y: 13.16%
• 3Y*: 14.22%
• 5Y*: 7.08%
• 10Y*: 9.73%

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

TRLAX vs. PTDIX - Expense Ratio Comparison

TRLAX has a 0.53% expense ratio, which is higher than PTDIX's 0.01% expense ratio.

TRLAX

T. Rowe Price Retirement Income 2020 Fund

PTDIX

Principal LifeTime 2040 Fund

Return for Risk

TRLAX vs. PTDIX — Risk / Return Rank

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

TRLAX

TRLAX Risk / Return Rank: 52
TRLAX Sharpe Ratio Rank: 66
TRLAX Sortino Ratio Rank: 69
TRLAX Omega Ratio Rank: 66
TRLAX Calmar Ratio Rank: 27
TRLAX Martin Ratio Rank: 33

PTDIX

PTDIX Risk / Return Rank: 53
PTDIX Sharpe Ratio Rank: 49
PTDIX Sortino Ratio Rank: 52
PTDIX Omega Ratio Rank: 49
PTDIX Calmar Ratio Rank: 51
PTDIX Martin Ratio Rank: 64

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.

TRLAX vs. PTDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement Income 2020 Fund (TRLAX) and Principal LifeTime 2040 Fund (PTDIX). 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.

	TRLAX	PTDIX	Difference
Sharpe ratio Return per unit of total volatility	1.27	1.04	+0.23
Sortino ratio Return per unit of downside risk	1.84	1.55	+0.29
Omega ratio Gain probability vs. loss probability	1.27	1.22	+0.05
Calmar ratio Return relative to maximum drawdown	0.90	1.40	-0.51
Martin ratio Return relative to average drawdown	4.01	6.70	-2.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRLAX vs. PTDIX - Sharpe Ratio Comparison

The current TRLAX Sharpe Ratio is 1.27, which is comparable to the PTDIX Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of TRLAX and PTDIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TRLAX	PTDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.04	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.53	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.46	+0.17

Correlation

The correlation between TRLAX and PTDIX is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TRLAX vs. PTDIX - Dividend Comparison

TRLAX's dividend yield for the trailing twelve months is around 9.10%, less than PTDIX's 10.00% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRLAX T. Rowe Price Retirement Income 2020 Fund	9.10%	8.08%	8.38%	6.52%	7.29%	7.77%	7.93%	5.80%	7.83%	2.84%	0.00%	0.00%
PTDIX Principal LifeTime 2040 Fund	10.00%	9.80%	12.28%	4.40%	8.61%	8.92%	6.01%	7.26%	9.28%	6.07%	4.86%	6.73%

Drawdowns

TRLAX vs. PTDIX - Drawdown Comparison

The maximum TRLAX drawdown since its inception was -23.82%, smaller than the maximum PTDIX drawdown of -54.38%. Use the drawdown chart below to compare losses from any high point for TRLAX and PTDIX.

Drawdown Indicators

	TRLAX	PTDIX	Difference
Max Drawdown Largest peak-to-trough decline	-23.82%	-54.38%	+30.56%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	-9.72%	+3.28%
Max Drawdown (5Y) Largest decline over 5 years	-22.46%	-25.43%	+2.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.02%	—
Current Drawdown Current decline from peak	-4.22%	-5.17%	+0.95%
Average Drawdown Average peak-to-trough decline	-4.64%	-7.54%	+2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.04%	-0.19%

Volatility

TRLAX vs. PTDIX - Volatility Comparison

The current volatility for T. Rowe Price Retirement Income 2020 Fund (TRLAX) is 2.87%, while Principal LifeTime 2040 Fund (PTDIX) has a volatility of 4.94%. This indicates that TRLAX experiences smaller price fluctuations and is considered to be less risky than PTDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRLAX	PTDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	4.94%	-2.07%
Volatility (6M) Calculated over the trailing 6-month period	5.23%	7.68%	-2.45%
Volatility (1Y) Calculated over the trailing 1-year period	9.05%	13.16%	-4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.78%	13.48%	-4.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.77%	13.80%	-4.03%