Principal Global Multi-Strategy Fund (PSMIX) belongs to the Multistrategy category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with PSMIX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PSMIX
PSMIX charges 1.63% annually. There are 27 mutual funds in the Multistrategy category with lower expense ratios, going as low as 0.18%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aspiriant Defensive Allocation Fund | 0.18% | — | Dec 2015 | PSMIX vs RMDFX | |
| Symmetry Panoramic Alternatives Fund | 0.50% | — | Nov 2018 | PSMIX vs SPATX | |
| Morgan Stanley Pathway Funds Alternative Strategie... | 0.59% | — | Feb 2018 | PSMIX vs TALTX | |
| GMO Alternative Allocation Fund | 0.61% | — | May 2019 | PSMIX vs GAAVX | |
| John Hancock Funds Alternative Asset Allocation Fu... | 0.72% | — | Jan 2009 | PSMIX vs JAAAX |
Best Risk-Adjusted Alternatives to PSMIX
PSMIX has a PortfoliosLab risk / return rank of 96. There are 12 mutual funds in the Multistrategy category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Stone Ridge Reinsurance Risk Premium Interval Fund | 100 | — | Dec 2013 | PSMIX vs SRRIX | |
| Absolute Convertible Arbitrage Fund Institutional ... | 100 | — | Aug 2017 | PSMIX vs ARBIX | |
| Strategic Advisers Alternatives Fund | 99 | — | Jul 2022 | PSMIX vs FSLTX | |
| AQR Diversified Arbitrage Fund Class N | 99 | — | Jan 2009 | PSMIX vs ADANX | |
| AQR Diversified Arbitrage Fund Class I | 99 | — | Jan 2009 | PSMIX vs ADAIX |
Top Performing PSMIX Alternatives (YTD)
PSMIX is at 5.58% YTD. There are 26 mutual funds in the Multistrategy category with higher YTD returns, going as high as 17.68%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| AQR Alternative Risk Premia R6 | 17.68% | — | Sep 2017 | PSMIX vs QRPRX | |
| AQR Alternative Risk Premia Fund | 17.54% | — | Sep 2017 | PSMIX vs QRPIX | |
| AQR Alternative Risk Premia Fund Class N | 17.45% | — | Sep 2017 | PSMIX vs QRPNX | |
| AQR Style Premia Alternative R6 | 12.28% | — | Sep 2014 | PSMIX vs QSPRX | |
| AQR Style Premia Alternative Fund | 12.25% | — | Oct 2013 | PSMIX vs QSPIX |
Lowest Volatility Alternatives to PSMIX
PSMIX has 4.10% 1-year volatility. There are 19 mutual funds in the Multistrategy category with lower 1-year volatility, going as low as 1.22%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Absolute Convertible Arbitrage Fund Institutional ... | 1.22% | — | Aug 2017 | PSMIX vs ARBIX | |
| AQR Diversified Arbitrage Fund Class N | 1.45% | — | Jan 2009 | PSMIX vs ADANX | |
| AQR Diversified Arbitrage Fund Class I | 1.46% | — | Jan 2009 | PSMIX vs ADAIX | |
| Morningstar Alternatives Fund | 2.32% | — | Nov 2018 | PSMIX vs MSTVX | |
| Stone Ridge High Yield Reinsurance Risk Premium Fu... | 2.36% | — | Feb 2013 | PSMIX vs SHRIX |
Lowest Drawdown Alternatives to PSMIX
PSMIX has a 1-year max drawdown of -2.41%. There are 17 mutual funds in the Multistrategy category with shallower 1-year drawdowns, going as shallow as -0.39%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| AQR Diversified Arbitrage Fund Class N | -0.39% | — | Jan 2009 | PSMIX vs ADANX | |
| AQR Diversified Arbitrage Fund Class I | -0.46% | — | Jan 2009 | PSMIX vs ADAIX | |
| Absolute Convertible Arbitrage Fund Institutional ... | -0.51% | — | Aug 2017 | PSMIX vs ARBIX | |
| Stone Ridge Reinsurance Risk Premium Interval Fund | -0.55% | — | Dec 2013 | PSMIX vs SRRIX | |
| Strategic Advisers Alternatives Fund | -0.86% | — | Jul 2022 | PSMIX vs FSLTX |
Other Mutual Funds from Principal
The 10 most viewed Principal mutual funds shown here include PCBIX, PLGIX, CMNWX and span 5 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Principal MidCap Fund Institutional Class | Mid Cap Growth Equities | 1 | -4.46% | — | Dec 2000 | PSMIX vs PCBIX | |
| Principal LargeCap Growth Fund I | Large Cap Growth Equities | 6 | 1.06% | — | Dec 2000 | PSMIX vs PLGIX | |
| Principal Capital Appreciation Fund | Large Cap Blend Equities | 49 | 9.64% | — | Nov 1986 | PSMIX vs CMNWX | |
| Principal LifeTime 2055 Fund | Target Retirement Date | 39 | 8.01% | — | Feb 2008 | PSMIX vs LTFIX | |
| Principal Blue Chip Fund | Large Cap Growth Equities | 3 | -1.87% | — | Jun 2012 | PSMIX vs PBCKX | |
| Principal SAM Strategic Growth Portfolio | Diversified Portfolio | 52 | 10.41% | — | Jul 1996 | PSMIX vs SACAX | |
| Principal LifeTime 2030 Fund | Target Retirement Date | 43 | 4.83% | — | Feb 2001 | PSMIX vs PMTIX | |
| Principal LifeTime 2045 Fund | Target Retirement Date | 40 | 7.15% | — | Feb 2008 | PSMIX vs LTRIX | |
| Principal LifeTime 2040 Fund | Target Retirement Date | 41 | 6.42% | — | Feb 2001 | PSMIX vs PTDIX | |
| Principal LifeTime 2035 Fund | Target Retirement Date | 41 | 5.50% | — | Feb 2008 | PSMIX vs LTIUX |
Often Compared With PSMIX
Investors most often compare PSMIX with QDSIX, GFSYX, QIS. These 20 comparison targets span 11 categories, based on PortfoliosLab usage data.
Compare PSMIX with Any Fund or Stock
Compare PSMIX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PSMIX with funds that move differently
Principal Global Multi-Strategy Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PSMIX.
Explore PSMIX Diversifiers