Principal LifeTime 2040 Fund
Target-date 2040 fund
As of its 2026 Q2 report, Principal LifeTime 2040 Fund held 15 positions with $4.46B in net assets. Its ten largest holdings made up 92.6% of the fund. The PTDMX share class costs 1.15% a year. Over the 12 months to May 2026, PTDMX returned 18.2%, with dividends reinvested. In 2026 Q3 it added 4 new positions and exited none.
The Fund seeks a total return consisting of long-term growth of capital and current income.
The fund is a fund of funds that invests in underlying Principal Exchange-Traded Funds and Principal Funds across domestic and foreign equities, fixed-income securities, and real assets, with an asset allocation strategy designed for a specific retirement target year. The fund's asset allocation becomes progressively more conservative as it approaches and passes its target date, eventually aligning with a strategic income fund approximately ten years after the target year. The fund rebalances to maintain target weights across asset classes and may adjust those targets in response to market conditions or the shortening investment horizon.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
PLFIXLargeCap S&P 500 Index Fund | 21.05% | $939.73M | 27.5M | $34.20 |
PIIDXInternational Equity Fund | 20.03% | $894.31M | 52.5M | $17.02 |
PICNXCore Fixed Income Fund | 19.55% | $872.88M | 101.3M | $8.62 |
Equity Income Fund | 5.63% | $251.31M | 5.6M | $44.59 |
PIIMXGlobal Emerging Markets Fund | 5.51% | $245.79M | 6.2M | $39.52 |
PLVIXLargeCap Value Fund III | 5.10% | $227.85M | 12.3M | $18.52 |
PLCGXLargeCap Growth Fund I | 4.68% | $208.96M | 13.1M | $15.97 |
PGBHXBlue Chip Fund | 4.32% | $192.60M | 4.7M | $41.20 |
PSMLXSmallCap Fund | 3.40% | $151.96M | 4.4M | $34.33 |
PHYFXHigh Yield Fund | 3.30% | $147.29M | 22.2M | $6.63 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 15 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 76.51% |
| Bonds | 17.33% |
| Securitized | 4.90% |
| Cash & short-term | 0.88% |
| Loans | 0.16% |
| Derivatives | -0.01% |
Look-through blends 15 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
How it has done
PTDMX share class · total returns with dividends reinvested
Volatility over the last 12 months: 8.97%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 7 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| — | — | — | — | — | |
| 1.15% | +18.24% | +52.04% | +36.40% | -8.82% | |
| 0.84% | +18.63% | +53.46% | +38.56% | -8.77% | |
| — | — | — | — | — | |
| 0.59% | +18.95% | +54.66% | +40.43% | -8.71% | |
| 0.76% | +18.72% | +53.93% | +39.19% | -8.76% | |
| 0.93% | +18.58% | +53.14% | +37.99% | -8.76% |
Fees & fund details
Principal LifeTime 2040 Fund is a target-date 2040 fund.
- Asset class
- Target-date
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Target year
- 2040
- Features
- Fund of funds
- Expense ratio, by class
- 0.59% – 1.15%· PTDMX 1.15%
- Portfolio turnover
- 38.90% a year · as of 2026 Q1
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
4 new
0 exited
Understand how this fund fits with the rest.
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