TRRAX vs. LTIUX

Last updated Jun 5, 2026

TRRAX (T. Rowe Price Retirement 2010 Fund) and LTIUX (Principal LifeTime 2035 Fund) are both Target Retirement Date funds. Over the past 10 years, TRRAX returned 6.62%/yr vs 9.52%/yr for LTIUX. With a 0.96 correlation, they move nearly in lockstep. TRRAX charges 0.49%/yr vs 0.01%/yr for LTIUX.

Performance

TRRAX vs. LTIUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement 2010 Fund (TRRAX) and Principal LifeTime 2035 Fund (LTIUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRRAX achieves a 5.56% return, which is significantly lower than LTIUX's 6.02% return. Over the past 10 years, TRRAX has underperformed LTIUX with an annualized return of 6.62%, while LTIUX has yielded a comparatively higher 9.52% annualized return.

TRRAX

• 1D: -0.35%
• 1M: 1.56%
• YTD: 5.56%
• 6M: 5.84%
• 1Y: 13.57%
• 3Y*: 10.98%
• 5Y*: 4.95%
• 10Y*: 6.62%

LTIUX

• 1D: -0.64%
• 1M: 1.96%
• YTD: 6.02%
• 6M: 6.31%
• 1Y: 16.02%
• 3Y*: 14.62%
• 5Y*: 6.73%
• 10Y*: 9.52%

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

TRRAX vs. LTIUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRRAX T. Rowe Price Retirement 2010 Fund	5.56%	11.77%	8.48%	12.49%	-13.94%	8.87%	11.90%	16.17%	-3.66%	11.67%
LTIUX Principal LifeTime 2035 Fund	6.02%	14.26%	14.13%	16.51%	-17.48%	14.07%	15.70%	23.48%	-7.37%	19.69%

Correlation

The correlation between TRRAX and LTIUX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Mar 4, 2008	0.96

The correlation between TRRAX and LTIUX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

TRRAX vs. LTIUX — Risk / Return Rank

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

TRRAX

TRRAX Risk / Return Rank: 64
TRRAX Sharpe Ratio Rank: 64
TRRAX Sortino Ratio Rank: 68
TRRAX Omega Ratio Rank: 70
TRRAX Calmar Ratio Rank: 53
TRRAX Martin Ratio Rank: 63

LTIUX

LTIUX Risk / Return Rank: 46
LTIUX Sharpe Ratio Rank: 43
LTIUX Sortino Ratio Rank: 43
LTIUX Omega Ratio Rank: 44
LTIUX Calmar Ratio Rank: 43
LTIUX Martin Ratio Rank: 56

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.

TRRAX vs. LTIUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2010 Fund (TRRAX) and Principal LifeTime 2035 Fund (LTIUX). 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.

	TRRAX	LTIUX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.89	+0.44
Sortino ratio: Return per unit of downside risk	3.41	2.72	+0.69
Omega ratio: Gain probability vs. loss probability	1.46	1.36	+0.11
Calmar ratio: Return relative to maximum drawdown	2.75	2.49	+0.26
Martin ratio: Return relative to average drawdown	12.23	11.08	+1.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRRAX vs. LTIUX - Sharpe Ratio Comparison

The current TRRAX Sharpe Ratio is 2.34, which is comparable to the LTIUX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of TRRAX and LTIUX, 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

	TRRAX	LTIUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	1.89	+0.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.57	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.76	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.48	+0.23

Drawdowns

TRRAX vs. LTIUX - Drawdown Comparison

The maximum TRRAX drawdown since its inception was -38.81%, smaller than the maximum LTIUX drawdown of -49.65%. Use the drawdown chart below to compare losses from any high point for TRRAX and LTIUX.

Drawdown Indicators

	TRRAX	LTIUX	Difference
Max Drawdown Largest peak-to-trough decline	-38.81%	-49.65%	+10.84%
Max Drawdown (1Y) Largest decline over 1 year	-5.07%	-6.57%	+1.50%
Max Drawdown (3Y) Largest decline over 3 years	-7.33%	-11.08%	+3.75%
Max Drawdown (5Y) Largest decline over 5 years	-19.40%	-24.23%	+4.83%
Max Drawdown (10Y) Largest decline over 10 years	-19.61%	-28.12%	+8.51%
Current Drawdown Current decline from peak	-0.35%	-0.64%	+0.29%
Average Drawdown Average peak-to-trough decline	-3.91%	-6.71%	+2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	1.47%	-0.33%

Volatility

TRRAX vs. LTIUX - Volatility Comparison

The current volatility for T. Rowe Price Retirement 2010 Fund (TRRAX) is 1.91%, while Principal LifeTime 2035 Fund (LTIUX) has a volatility of 2.69%. This indicates that TRRAX experiences smaller price fluctuations and is considered to be less risky than LTIUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRRAX	LTIUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.91%	2.69%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	4.92%	6.97%	-2.05%
Volatility (1Y) Calculated over the trailing 1-year period	5.97%	8.64%	-2.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.04%	11.83%	-3.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.87%	12.49%	-4.62%

TRRAX vs. LTIUX - Expense Ratio Comparison

TRRAX has a 0.49% expense ratio, which is higher than LTIUX's 0.01% expense ratio.

Dividends

TRRAX vs. LTIUX - Dividend Comparison

TRRAX's dividend yield for the trailing twelve months is around 5.56%, less than LTIUX's 8.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LTIUX Principal LifeTime 2035 Fund	8.52%	9.03%	9.46%	4.17%	7.50%	7.06%	5.35%	7.28%	7.75%	5.46%	4.28%	5.59%
TRRAX T. Rowe Price Retirement 2010 Fund	5.56%	5.87%	4.10%	4.32%	11.83%	13.61%	9.86%	4.55%	8.50%	5.96%	2.19%	2.07%

Frequently Asked Questions

Can I hold both TRRAX and LTIUX in my portfolio?

With a correlation of 0.95, TRRAX and LTIUX 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, TRRAX or LTIUX?

LTIUX has higher volatility (2.69%) compared to TRRAX (1.91%). In terms of maximum drawdown, TRRAX dropped -38.81% vs LTIUX's -49.65%.

Which has better risk-adjusted returns?

TRRAX currently has the higher Sharpe Ratio (2.34 vs 1.89), 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.