URFRX vs. PRMYX

Last updated Aug 5, 2026

URFRX (USAA Target Retirement 2040 Fund) and PRMYX (Putnam RetirementReady Maturity Fund) are both Target Retirement Date funds. Over the past 10 years, URFRX returned 9.25%/yr vs 3.21%/yr for PRMYX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. URFRX charges 0.02%/yr vs 0.13%/yr for PRMYX.

Performance

URFRX vs. PRMYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USAA Target Retirement 2040 Fund (URFRX) and Putnam RetirementReady Maturity Fund (PRMYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, URFRX achieves a 12.10% return, which is significantly higher than PRMYX's 2.35% return. Over the past 10 years, URFRX has outperformed PRMYX with an annualized return of 9.25%, while PRMYX has yielded a comparatively lower 3.21% annualized return.

URFRX

• 1D: 0.76%
• 1M: 1.27%
• 6M: 8.88%
• YTD: 12.10%
• 1Y: 20.54%
• 3Y*: 15.56%
• 5Y*: 8.35%
• 10Y*: 9.25%
• ALL TIME*: 7.89%

PRMYX

• 1D: 0.46%
• 1M: -0.17%
• 6M: 2.58%
• YTD: 2.35%
• 1Y: 5.80%
• 3Y*: 7.70%
• 5Y*: 4.03%
• 10Y*: 3.21%
• ALL TIME*: 3.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PRMYX Putnam RetirementReady Maturity Fund	$0.00	$0.00	$0.00
URFRX USAA Target Retirement 2040 Fund	$0.00	$0.00	$0.00

URFRX vs. PRMYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
URFRX USAA Target Retirement 2040 Fund	12.10%	17.49%	10.37%	16.75%	-14.86%	15.88%	9.22%	19.57%	-8.52%	18.48%
PRMYX Putnam RetirementReady Maturity Fund	2.35%	8.38%	6.31%	9.82%	-4.22%	0.02%	1.29%	8.54%	-5.19%	5.10%

Correlation

The correlation between URFRX and PRMYX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.74
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.75

The correlation between URFRX and PRMYX shifts across timeframes, from 0.74 (10 years) to 0.92 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

URFRX vs. PRMYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

URFRX

URFRX Risk / Return Rank: 86
URFRX Sharpe Ratio Rank: 86
URFRX Sortino Ratio Rank: 84
URFRX Omega Ratio Rank: 82
URFRX Calmar Ratio Rank: 86
URFRX Martin Ratio Rank: 91

PRMYX

PRMYX Risk / Return Rank: 36
PRMYX Sharpe Ratio Rank: 33
PRMYX Sortino Ratio Rank: 34
PRMYX Omega Ratio Rank: 31
PRMYX Calmar Ratio Rank: 37
PRMYX Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

URFRX vs. PRMYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USAA Target Retirement 2040 Fund (URFRX) and Putnam RetirementReady Maturity Fund (PRMYX). 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.

	URFRX	PRMYX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.28	+0.87
Sortino ratio: Return per unit of downside risk	3.04	1.88	+1.16
Omega ratio: Gain probability vs. loss probability	1.40	1.23	+0.17
Calmar ratio: Return relative to maximum drawdown	3.19	1.77	+1.41
Martin ratio: Return relative to average drawdown	13.66	7.13	+6.53

URFRX vs. PRMYX - Sharpe Ratio Comparison

The current URFRX Sharpe Ratio is 2.15, which is higher than the PRMYX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of URFRX and PRMYX, 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

URFRX vs. PRMYX - Drawdown Comparison

The maximum URFRX drawdown since its inception was -39.33%, which is greater than PRMYX's maximum drawdown of -9.74%. Use the drawdown chart below to compare losses from any high point for URFRX and PRMYX.

Drawdown Indicators

	URFRX	PRMYX	Difference
Max Drawdown Largest peak-to-trough decline	-39.33%	-9.74%	-29.59%
Max Drawdown (1Y) Largest decline over 1 year	-6.88%	-3.50%	-3.38%
Max Drawdown (3Y) Largest decline over 3 years	-12.41%	-7.35%	-5.06%
Max Drawdown (5Y) Largest decline over 5 years	-22.27%	-9.24%	-13.03%
Max Drawdown (10Y) Largest decline over 10 years	-28.59%	-9.74%	-18.85%
Current Drawdown Current decline from peak	0.00%	-0.57%	+0.57%
Average Drawdown Average peak-to-trough decline	-5.15%	-1.68%	-3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	0.87%	+0.73%

Volatility

URFRX vs. PRMYX - Volatility Comparison

USAA Target Retirement 2040 Fund (URFRX) has a higher volatility of 2.55% compared to Putnam RetirementReady Maturity Fund (PRMYX) at 1.55%. This indicates that URFRX's price experiences larger fluctuations and is considered to be riskier than PRMYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URFRX	PRMYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	1.55%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	8.52%	3.93%	+4.59%
Volatility (1Y) Calculated over the trailing 1-year period	10.22%	4.87%	+5.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.41%	5.26%	+7.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.04%	4.51%	+8.53%

URFRX vs. PRMYX - Expense Ratio Comparison

URFRX has a 0.02% expense ratio, which is lower than PRMYX's 0.13% 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

URFRX vs. PRMYX - Dividend Comparison

URFRX's dividend yield for the trailing twelve months is around 6.29%, more than PRMYX's 3.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRMYX Putnam RetirementReady Maturity Fund	3.41%	3.30%	3.15%	3.62%	7.46%	2.47%	2.17%	2.97%	1.73%	0.55%	1.53%	3.90%
URFRX USAA Target Retirement 2040 Fund	6.29%	7.05%	2.78%	3.94%	10.68%	7.78%	5.49%	12.74%	9.99%	6.53%	3.95%	2.55%

Frequently Asked Questions

Can I hold both URFRX and PRMYX in my portfolio?

With a correlation of 0.92, URFRX and PRMYX 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, URFRX or PRMYX?

URFRX has higher volatility (2.55%) compared to PRMYX (1.55%). In terms of maximum drawdown, URFRX dropped -39.33% vs PRMYX's -9.74%.

Which has better risk-adjusted returns?

URFRX currently has the higher Sharpe Ratio (2.15 vs 1.28), 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.