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Principal MidCap S&P 400 Index Fund (PMFMX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 26, 2026

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that compose the Standard & Poor's ("S&P") MidCap 400 Index at the time of purchase. The index is designed to represent U.S. equities with risk/return characteristics of the mid cap universe.

Looking to diversify beyond PMFMX? The mutual funds below have the lowest correlation with PMFMX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PMFMX.

Best Diversifiers for PMFMX

1 mutual funds have low correlation with PMFMX (below 0.3), 0 of which are negatively correlated. The least correlated is Principal Tax-Exempt Bond Fund (PTEAX) (Municipal Bonds) with a 1Y correlation of 0.14, roughly unchanged from 0.09 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PTEAX
Principal Tax-Exempt Bond Fund0.140.140.09
68
Municipal BondsPMFMX vs PTEAX
PSMIX
Principal Global Multi-Strategy Fund0.710.710.76
95
MultistrategyPMFMX vs PSMIX
DDDIX
13D Activist Fund0.730.820.87
69
Mid Cap Blend EquitiesPMFMX vs DDDIX
GENIX
Gotham Enhanced Return Fund0.730.770.81
67
Mid Cap Blend EquitiesPMFMX vs GENIX
FXAIX
Fidelity 500 Index Fund0.740.780.84
55
S&P 500PMFMX vs FXAIX
See all 25 diversifiers for PMFMX

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