LCAP vs. PY

Last updated Apr 2, 2026

Compare and contrast key facts about Principal Capital Appreciation Select ETF (LCAP) and Principal Value ETF (PY).

LCAP and PY 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. PY is an actively managed fund by Principal. It was launched on Mar 21, 2016.

Performance

LCAP vs. PY - Performance Comparison

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

LCAP vs. PY - Yearly Performance Comparison

	2026 (YTD)	2025
LCAP Principal Capital Appreciation Select ETF	-1.05%	18.16%
PY Principal Value ETF	-1.28%	8.08%

Returns By Period

In the year-to-date period, LCAP achieves a -1.05% return, which is significantly higher than PY's -1.28% return.

LCAP

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

PY

• 1D: 0.07%
• 1M: -4.06%
• YTD: -1.28%
• 6M: -0.47%
• 1Y: 7.14%
• 3Y*: 11.05%
• 5Y*: 7.69%
• 10Y*: 10.39%

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

LCAP vs. PY - Expense Ratio Comparison

LCAP has a 0.29% expense ratio, which is higher than PY's 0.15% expense ratio.

LCAP

Principal Capital Appreciation Select ETF

PY

Principal Value ETF

Return for Risk

LCAP vs. PY — 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

PY

PY Risk / Return Rank: 24
PY Sharpe Ratio Rank: 23
PY Sortino Ratio Rank: 23
PY Omega Ratio Rank: 25
PY Calmar Ratio Rank: 24
PY Martin Ratio Rank: 28

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. PY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Capital Appreciation Select ETF (LCAP) and Principal Value ETF (PY). 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	PY	Difference
Sharpe ratio Return per unit of total volatility	1.04	0.42	+0.63
Sortino ratio Return per unit of downside risk	1.59	0.70	+0.89
Omega ratio Gain probability vs. loss probability	1.22	1.11	+0.12
Calmar ratio Return relative to maximum drawdown	1.69	0.55	+1.13
Martin ratio Return relative to average drawdown	6.96	2.37	+4.59
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. PY - Sharpe Ratio Comparison

The current LCAP Sharpe Ratio is 1.04, which is higher than the PY Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of LCAP and PY, 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	PY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	0.42	+0.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.51	+0.44

Correlation

The correlation between LCAP and PY is 0.70, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

LCAP vs. PY - Dividend Comparison

LCAP's dividend yield for the trailing twelve months is around 0.11%, less than PY's 2.25% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
LCAP Principal Capital Appreciation Select ETF	0.11%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PY Principal Value ETF	2.25%	2.14%	2.22%	2.68%	3.02%	2.83%	2.95%	2.25%	2.34%	1.68%	1.85%

Drawdowns

LCAP vs. PY - Drawdown Comparison

The maximum LCAP drawdown since its inception was -11.31%, smaller than the maximum PY drawdown of -45.44%. Use the drawdown chart below to compare losses from any high point for LCAP and PY.

Drawdown Indicators

	LCAP	PY	Difference
Max Drawdown Largest peak-to-trough decline	-11.31%	-45.44%	+34.13%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-13.27%	+2.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.44%	—
Current Drawdown Current decline from peak	-6.15%	-4.48%	-1.67%
Average Drawdown Average peak-to-trough decline	-1.71%	-5.12%	+3.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.09%	-0.42%

Volatility

LCAP vs. PY - Volatility Comparison

Principal Capital Appreciation Select ETF (LCAP) has a higher volatility of 5.21% compared to Principal Value ETF (PY) at 3.50%. This indicates that LCAP's price experiences larger fluctuations and is considered to be riskier than PY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCAP	PY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	3.50%	+1.71%
Volatility (6M) Calculated over the trailing 6-month period	10.68%	7.98%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	17.15%	+0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.58%	15.89%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.58%	20.09%	-2.51%