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Principal Equity Income Fund (PQIAX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 14, 2026

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in dividend-paying equity securities at the time of purchase. It usually invests in equity securities of companies with large and medium market capitalizations. The fund invests in value equity securities, an investment strategy that emphasizes buying equity securities that appear to be undervalued.

Looking to diversify beyond PQIAX? The mutual funds below have the lowest correlation with PQIAX — 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 PQIAX.

Best Diversifiers for PQIAX

5 mutual funds have low correlation with PQIAX (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 0.17, roughly unchanged from 0.11 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PTEAX
Principal Tax-Exempt Bond Fund0.170.160.11
69
Municipal BondsPQIAX vs PTEAX
PMOAX
Principal Opportunistic Municipal Fund0.200.160.11
85
High Yield MuniPQIAX vs PMOAX
SRCMX
Principal California Municipal Fund0.240.190.12
72
Municipal BondsPQIAX vs SRCMX
SRHQX
Principal Short-Term Income Fund0.250.180.14
85
Short-Term BondPQIAX vs SRHQX
LEIFX
Federated Hermes Equity Income Fund0.260.590.78
72
Large Cap Value EquitiesPQIAX vs LEIFX
See all 82 diversifiers for PQIAX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from PQIAX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PQIAX and solid risk/return profiles. The least correlated is Berkshire Hathaway Inc. (BRK-B) (Financial Services) with a 1Y correlation of 0.33, down from 0.65 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
BRK-B
Berkshire Hathaway Inc.0.330.520.65
53
Financial Services

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