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Principal Bond Market Index Fund (PNIIX) Sharpe Ratio: 1.29

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

The investment seeks to provide current income. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in investments designed to track the Bloomberg US Aggregate Bond Index (the "index") at the time of purchase. The index is composed of investment grade, fixed rate debt issues with maturities of one year or more, including government securities, corporate securities, and asset-backed and mortgage-backed securities (securitized products).

PNIIX's Sharpe Ratio of 1.29 indicates that for each unit of volatility, it generates 1.29 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 3, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

PNIIX Sharpe Ratio Rank

PNIIX Sharpe Ratio Rank: 19.820
Concerning

PNIIX ranks above 19.8% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

PNIIX Sharpe Ratio Market Positioning

The chart shows PNIIX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.42 or lower
  • Yellow zone (middle 50%): 1.42 to 2.51
  • Green zone (top 25%): 2.51 or higher
  • Top 1%: 4.64+
  • Median: 2.09 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Principal Bond Market Index Fund's Sharpe Ratio with other mutual funds in the Intermediate Core Bond category across multiple time periods, showing how PNIIX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 3, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
LSSAXLoomis Sayles Securitized Asset Fund2.11
STWTXHartford Schroders Tax-Aware Bond Fund1.97
MCDWXManning & Napier Credit Series1.82
PCGTXPACE Mortgage-Backed Securities Fixed Income Investments1.77
FSMOXFidelity SAI Investment Grade Securitized Fund1.73
PRCIXT. Rowe Price New Income Fund1.71
MCBDXMassMutual Core Bond Fund1.69
DFXIXDFA Diversified Fixed Income Portfolio1.66
FMBPXFederated Hermes Mortgage Strategy Portfolio1.66
BIMSXBaird Intermediate Bond Fund1.59
PNIIXPrincipal Bond Market Index Fund1.29

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows PNIIX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when PNIIX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

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