CPHYX vs. PCBIX
CPHYX (Principal High Yield Fund) and PCBIX (Principal MidCap Fund Institutional Class) are both mutual funds - CPHYX is a High Yield Bonds fund managed by Principal, while PCBIX is a Mid Cap Growth Equities fund managed by Principal. Over the past 10 years, CPHYX returned 4.74%/yr vs 11.82%/yr for PCBIX. Their 0.42 correlation means their historical movements had little consistent relationship. CPHYX charges 0.91%/yr vs 0.67%/yr for PCBIX.
Performance
CPHYX vs. PCBIX - Performance Comparison
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Returns By Period
In the year-to-date period, CPHYX achieves a 0.87% return, which is significantly higher than PCBIX's -3.74% return. Over the past 10 years, CPHYX has underperformed PCBIX with an annualized return of 4.74%, while PCBIX has yielded a comparatively higher 11.82% 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%
PCBIX
- 1D
- -1.39%
- 1M
- -0.60%
- 6M
- -3.13%
- YTD
- -3.74%
- 1Y
- -7.35%
- 3Y*
- 9.29%
- 5Y*
- 4.47%
- 10Y*
- 11.82%
- ALL TIME*
- 10.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
CPHYX vs. PCBIX - 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% |
PCBIX Principal MidCap Fund Institutional Class | -3.74% | 1.62% | 23.63% | 25.92% | -23.16% | 25.22% | 18.25% | 49.40% | -6.86% | 25.32% |
Correlation
The correlation between CPHYX and PCBIX is 0.47, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.47 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2001 | 0.42 |
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Return for Risk
CPHYX vs. PCBIX — Risk / Return Rank
CPHYX
PCBIX
CPHYX vs. PCBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal High Yield Fund (CPHYX) and Principal MidCap Fund Institutional Class (PCBIX). 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 | PCBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.80 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.91 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.46 | -0.48 | +1.94 |
| Martin ratioReturn relative to average drawdown | 6.85 | -0.94 | +7.79 |
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Drawdowns
CPHYX vs. PCBIX - Drawdown Comparison
The maximum CPHYX drawdown since its inception was -27.79%, smaller than the maximum PCBIX drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for CPHYX and PCBIX.
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Drawdown Indicators
| CPHYX | PCBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.79% | -50.25% | +22.46% |
Max Drawdown (1Y)Largest decline over 1 year | -2.61% | -19.29% | +16.68% |
Max Drawdown (3Y)Largest decline over 3 years | -4.48% | -19.29% | +14.81% |
Max Drawdown (5Y)Largest decline over 5 years | -14.33% | -31.17% | +16.84% |
Max Drawdown (10Y)Largest decline over 10 years | -20.68% | -40.56% | +19.88% |
Current DrawdownCurrent decline from peak | -1.05% | -10.03% | +8.98% |
Average DrawdownAverage peak-to-trough decline | -2.60% | -6.58% | +3.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 9.82% | -9.26% |
Volatility
CPHYX vs. PCBIX - Volatility Comparison
The current volatility for Principal High Yield Fund (CPHYX) is 0.54%, while Principal MidCap Fund Institutional Class (PCBIX) has a volatility of 5.19%. This indicates that CPHYX experiences smaller price fluctuations and is considered to be less risky than PCBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPHYX | PCBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 5.19% | -4.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 12.00% | -9.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 15.15% | -11.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.77% | 18.75% | -13.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.32% | 19.14% | -13.82% |
CPHYX vs. PCBIX - Expense Ratio Comparison
CPHYX has a 0.91% expense ratio, which is higher than PCBIX's 0.67% expense ratio.
Dividends
CPHYX vs. PCBIX - Dividend Comparison
CPHYX's dividend yield for the trailing twelve months is around 6.11%, more than PCBIX's 6.04% 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% |
PCBIX Principal MidCap Fund Institutional Class | 6.04% | 5.81% | 6.40% | 2.51% | 3.18% | 7.96% | 1.08% | 9.02% | 12.24% | 3.31% | 2.49% | 6.30% |
Frequently Asked Questions
CPHYX and PCBIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCBIX has higher volatility (5.19%) compared to CPHYX (0.54%). In terms of maximum drawdown, CPHYX dropped -27.79% vs PCBIX's -50.25%.
CPHYX currently has the higher Sharpe Ratio (1.19 vs -0.61), 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.
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