LCAP vs. BYRE

Last updated Apr 2, 2026

Compare and contrast key facts about Principal Capital Appreciation Select ETF (LCAP) and Principal Real Estate Active Opportunities ETF (BYRE).

LCAP and BYRE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LCAP is an actively managed fund by Principal. It was launched on Mar 25, 2025. BYRE is an actively managed fund by Principal. It was launched on May 18, 2022.

Performance

LCAP vs. BYRE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Capital Appreciation Select ETF (LCAP) and Principal Real Estate Active Opportunities ETF (BYRE). The values are adjusted to include any dividend payments, if applicable.

LCAP vs. BYRE - Yearly Performance Comparison

	2026 (YTD)	2025
LCAP Principal Capital Appreciation Select ETF	-1.05%	18.16%
BYRE Principal Real Estate Active Opportunities ETF	3.28%	-0.72%

Returns By Period

In the year-to-date period, LCAP achieves a -1.05% return, which is significantly lower than BYRE's 3.28% return.

LCAP

• 1D: 0.83%
• 1M: -4.01%
• YTD: -1.05%
• 6M: 0.21%
• 1Y: 18.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BYRE

• 1D: 0.67%
• 1M: -5.81%
• YTD: 3.28%
• 6M: 1.18%
• 1Y: 1.38%
• 3Y*: 5.85%
• 5Y*: —
• 10Y*: —

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

LCAP vs. BYRE - Expense Ratio Comparison

LCAP has a 0.29% expense ratio, which is lower than BYRE's 0.65% expense ratio.

BYRE

Principal Real Estate Active Opportunities ETF

LCAP

Principal Capital Appreciation Select ETF

Return for Risk

LCAP vs. BYRE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LCAP

LCAP Risk / Return Rank: 57
LCAP Sharpe Ratio Rank: 54
LCAP Sortino Ratio Rank: 58
LCAP Omega Ratio Rank: 56
LCAP Calmar Ratio Rank: 58
LCAP Martin Ratio Rank: 60

BYRE

BYRE Risk / Return Rank: 14
BYRE Sharpe Ratio Rank: 14
BYRE Sortino Ratio Rank: 13
BYRE Omega Ratio Rank: 13
BYRE Calmar Ratio Rank: 14
BYRE Martin Ratio Rank: 15

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

LCAP vs. BYRE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Capital Appreciation Select ETF (LCAP) and Principal Real Estate Active Opportunities ETF (BYRE). 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.

	LCAP	BYRE	Difference
Sharpe ratio Return per unit of total volatility	1.04	0.09	+0.95
Sortino ratio Return per unit of downside risk	1.59	0.23	+1.36
Omega ratio Gain probability vs. loss probability	1.22	1.03	+0.19
Calmar ratio Return relative to maximum drawdown	1.69	0.16	+1.53
Martin ratio Return relative to average drawdown	6.96	0.52	+6.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCAP vs. BYRE - Sharpe Ratio Comparison

The current LCAP Sharpe Ratio is 1.04, which is higher than the BYRE Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of LCAP and BYRE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	LCAP	BYRE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	0.09	+0.95
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.15	+0.80

Correlation

The correlation between LCAP and BYRE is 0.34, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

LCAP vs. BYRE - Dividend Comparison

LCAP's dividend yield for the trailing twelve months is around 0.11%, less than BYRE's 2.66% yield.

	TTM	2025	2024	2023	2022
LCAP Principal Capital Appreciation Select ETF	0.11%	0.11%	0.00%	0.00%	0.00%
BYRE Principal Real Estate Active Opportunities ETF	2.66%	2.71%	2.31%	2.63%	1.86%

Drawdowns

LCAP vs. BYRE - Drawdown Comparison

The maximum LCAP drawdown since its inception was -11.31%, smaller than the maximum BYRE drawdown of -25.70%. Use the drawdown chart below to compare losses from any high point for LCAP and BYRE.

Drawdown Indicators

	LCAP	BYRE	Difference
Max Drawdown Largest peak-to-trough decline	-11.31%	-25.70%	+14.39%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-10.82%	-0.22%
Current Drawdown Current decline from peak	-6.15%	-5.81%	-0.34%
Average Drawdown Average peak-to-trough decline	-1.71%	-9.95%	+8.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.30%	-0.63%

Volatility

LCAP vs. BYRE - Volatility Comparison

Principal Capital Appreciation Select ETF (LCAP) has a higher volatility of 5.21% compared to Principal Real Estate Active Opportunities ETF (BYRE) at 4.77%. This indicates that LCAP's price experiences larger fluctuations and is considered to be riskier than BYRE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCAP	BYRE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	4.77%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	10.68%	8.77%	+1.91%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	15.01%	+2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.58%	18.28%	-0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.58%	18.28%	-0.70%