CPHYX vs. FOCIX

Last updated Aug 1, 2026

CPHYX (Principal High Yield Fund) and FOCIX (Fairholme Focused Income Fund) are both High Yield Bonds funds. Over the past 10 years, CPHYX returned 4.74%/yr vs 7.03%/yr for FOCIX. Their 0.30 correlation means their historical movements had little consistent relationship. CPHYX charges 0.91%/yr vs 1.00%/yr for FOCIX.

Performance

CPHYX vs. FOCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal High Yield Fund (CPHYX) and Fairholme Focused Income Fund (FOCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPHYX achieves a 0.87% return, which is significantly lower than FOCIX's 9.48% return. Over the past 10 years, CPHYX has underperformed FOCIX with an annualized return of 4.74%, while FOCIX has yielded a comparatively higher 7.03% annualized return.

CPHYX

• 1D: 0.15%
• 1M: -0.90%
• 6M: 0.31%
• YTD: 0.87%
• 1Y: 3.53%
• 3Y*: 6.45%
• 5Y*: 3.28%
• 10Y*: 4.74%
• ALL TIME*: 6.04%

FOCIX

• 1D: -1.19%
• 1M: 1.09%
• 6M: 7.04%
• YTD: 9.48%
• 1Y: 12.35%
• 3Y*: 11.54%
• 5Y*: 10.19%
• 10Y*: 7.03%
• ALL TIME*: 7.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CPHYX Principal High Yield Fund	$0.00	$0.00	$0.00
FOCIX Fairholme Focused Income Fund	$0.00	$0.00	$0.00

CPHYX vs. FOCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPHYX Principal High Yield Fund	0.87%	6.68%	7.09%	11.27%	-9.32%	5.41%	6.11%	13.24%	-4.76%	7.78%
FOCIX Fairholme Focused Income Fund	9.48%	6.17%	14.67%	12.58%	6.00%	6.73%	0.99%	7.44%	-6.88%	-0.54%

Correlation

The correlation between CPHYX and FOCIX is -0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.07
Correlation (3Y) Balances recent behavior with more history.	0.17
Correlation (5Y) Shows whether the relationship held over a longer period.	0.29
Correlation (10Y) Provides a long-term view across more market conditions.	0.26
Correlation (All Time) Calculated using the full available price history since Jan 5, 2010	0.30

The correlation between CPHYX and FOCIX shifts across timeframes, from -0.07 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CPHYX vs. FOCIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CPHYX

CPHYX Risk / Return Rank: 46
CPHYX Sharpe Ratio Rank: 39
CPHYX Sortino Ratio Rank: 52
CPHYX Omega Ratio Rank: 58
CPHYX Calmar Ratio Rank: 33
CPHYX Martin Ratio Rank: 49

FOCIX

FOCIX Risk / Return Rank: 73
FOCIX Sharpe Ratio Rank: 63
FOCIX Sortino Ratio Rank: 68
FOCIX Omega Ratio Rank: 61
FOCIX Calmar Ratio Rank: 91
FOCIX Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CPHYX vs. FOCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal High Yield Fund (CPHYX) and Fairholme Focused Income Fund (FOCIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CPHYX	FOCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.48	-0.29
Sortino ratio: Return per unit of downside risk	2.00	2.26	-0.26
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	1.46	3.51	-2.05
Martin ratio: Return relative to average drawdown	6.85	9.80	-2.96

CPHYX vs. FOCIX - Sharpe Ratio Comparison

The current CPHYX Sharpe Ratio is 1.19, which is comparable to the FOCIX Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of CPHYX and FOCIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CPHYX vs. FOCIX - Drawdown Comparison

The maximum CPHYX drawdown since its inception was -27.79%, which is greater than FOCIX's maximum drawdown of -18.78%. Use the drawdown chart below to compare losses from any high point for CPHYX and FOCIX.

Drawdown Indicators

	CPHYX	FOCIX	Difference
Max Drawdown Largest peak-to-trough decline	-27.79%	-18.78%	-9.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-3.33%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-4.48%	-7.96%	+3.48%
Max Drawdown (5Y) Largest decline over 5 years	-14.33%	-12.36%	-1.97%
Max Drawdown (10Y) Largest decline over 10 years	-20.68%	-18.61%	-2.07%
Current Drawdown Current decline from peak	-1.05%	-1.19%	+0.14%
Average Drawdown Average peak-to-trough decline	-2.60%	-4.73%	+2.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.56%	1.19%	-0.63%

Volatility

CPHYX vs. FOCIX - Volatility Comparison

The current volatility for Principal High Yield Fund (CPHYX) is 0.54%, while Fairholme Focused Income Fund (FOCIX) has a volatility of 3.17%. This indicates that CPHYX experiences smaller price fluctuations and is considered to be less risky than FOCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPHYX	FOCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.54%	3.17%	-2.63%
Volatility (6M) Calculated over the trailing 6-month period	2.58%	6.37%	-3.79%
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	7.91%	-4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.77%	9.60%	-4.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.32%	9.13%	-3.81%

CPHYX vs. FOCIX - Expense Ratio Comparison

CPHYX has a 0.91% expense ratio, which is lower than FOCIX's 1.00% expense ratio.

Dividends

CPHYX vs. FOCIX - Dividend Comparison

CPHYX's dividend yield for the trailing twelve months is around 6.11%, more than FOCIX's 1.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPHYX Principal High Yield Fund	6.11%	6.46%	6.23%	4.70%	4.56%	4.72%	4.82%	5.50%	6.18%	4.90%	5.62%	6.24%
FOCIX Fairholme Focused Income Fund	1.15%	1.31%	2.46%	2.82%	2.24%	1.12%	0.65%	2.75%	4.57%	9.83%	5.16%	5.51%

Frequently Asked Questions

Can I hold both CPHYX and FOCIX in my portfolio?

CPHYX and FOCIX have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPHYX or FOCIX?

FOCIX has higher volatility (3.17%) compared to CPHYX (0.54%). In terms of maximum drawdown, CPHYX dropped -27.79% vs FOCIX's -18.78%.

Which has better risk-adjusted returns?

FOCIX currently has the higher Sharpe Ratio (1.48 vs 1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.