PBMPX vs. PTEAX
PBMPX (Principal Core Plus Bond Fund) and PTEAX (Principal Tax-Exempt Bond Fund) are both mutual funds - PBMPX is a Intermediate Core-Plus Bond fund managed by Principal, while PTEAX is a Municipal Bonds fund managed by Principal. Over the past 10 years, PBMPX returned 1.68%/yr vs 1.94%/yr for PTEAX. A 0.53 correlation means they provide meaningful diversification when combined. PBMPX charges 0.78%/yr vs 0.73%/yr for PTEAX.
Performance
PBMPX vs. PTEAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PBMPX achieves a 0.41% return, which is significantly lower than PTEAX's 1.54% return. Over the past 10 years, PBMPX has underperformed PTEAX with an annualized return of 1.68%, while PTEAX has yielded a comparatively higher 1.94% annualized return.
PBMPX
- 1D
- 0.22%
- 1M
- 0.95%
- YTD
- 0.41%
- 6M
- 0.51%
- 1Y
- 4.70%
- 3Y*
- 3.82%
- 5Y*
- -0.50%
- 10Y*
- 1.68%
PTEAX
- 1D
- 0.15%
- 1M
- 1.69%
- YTD
- 1.54%
- 6M
- 2.02%
- 1Y
- 6.64%
- 3Y*
- 3.89%
- 5Y*
- 0.31%
- 10Y*
- 1.94%
PBMPX vs. PTEAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBMPX Principal Core Plus Bond Fund | 0.41% | 7.15% | 0.71% | 5.23% | -14.62% | -0.84% | 9.33% | 9.64% | -1.93% | 4.66% |
PTEAX Principal Tax-Exempt Bond Fund | 1.54% | 4.68% | 2.10% | 6.35% | -12.18% | 2.71% | 4.80% | 9.05% | 0.44% | 6.44% |
Correlation
The correlation between PBMPX and PTEAX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2000 | 0.53 |
The correlation between PBMPX and PTEAX has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PBMPX vs. PTEAX — Risk / Return Rank
PBMPX
PTEAX
PBMPX vs. PTEAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Core Plus Bond Fund (PBMPX) and Principal Tax-Exempt Bond Fund (PTEAX). 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.
| PBMPX | PTEAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.60 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 2.15 | -0.62 |
| Martin ratioReturn relative to average drawdown | 4.74 | 7.19 | -2.45 |
Loading charts...
Drawdowns
PBMPX vs. PTEAX - Drawdown Comparison
The maximum PBMPX drawdown since its inception was -19.69%, smaller than the maximum PTEAX drawdown of -38.72%. Use the drawdown chart below to compare losses from any high point for PBMPX and PTEAX.
Loading charts...
Drawdown Indicators
| PBMPX | PTEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.69% | -38.72% | +19.03% |
Max Drawdown (1Y)Largest decline over 1 year | -3.16% | -3.10% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -7.04% | -5.31% | -1.73% |
Max Drawdown (5Y)Largest decline over 5 years | -19.48% | -17.37% | -2.11% |
Max Drawdown (10Y)Largest decline over 10 years | -19.48% | -17.37% | -2.11% |
Current DrawdownCurrent decline from peak | -3.66% | -0.41% | -3.25% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -5.93% | +2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 0.93% | +0.09% |
Volatility
PBMPX vs. PTEAX - Volatility Comparison
Principal Core Plus Bond Fund (PBMPX) has a higher volatility of 1.24% compared to Principal Tax-Exempt Bond Fund (PTEAX) at 0.72%. This indicates that PBMPX's price experiences larger fluctuations and is considered to be riskier than PTEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PBMPX | PTEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.24% | 0.72% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 2.07% | +1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 2.90% | +1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.89% | 3.99% | +1.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 4.40% | +0.43% |
PBMPX vs. PTEAX - Expense Ratio Comparison
PBMPX has a 0.78% expense ratio, which is higher than PTEAX's 0.73% expense ratio.
Dividends
PBMPX vs. PTEAX - Dividend Comparison
PBMPX's dividend yield for the trailing twelve months is around 4.19%, more than PTEAX's 3.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PBMPX Principal Core Plus Bond Fund | 4.19% | 4.42% | 4.10% | 3.04% | 2.06% | 3.12% | 7.16% | 3.44% | 3.36% | 2.78% | 2.30% | 2.21% |
PTEAX Principal Tax-Exempt Bond Fund | 3.82% | 4.66% | 3.73% | 2.81% | 2.27% | 2.15% | 2.23% | 3.09% | 3.68% | 3.69% | 3.91% | 3.75% |
Frequently Asked Questions
PBMPX and PTEAX 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.
PBMPX has higher volatility (1.24%) compared to PTEAX (0.72%). In terms of maximum drawdown, PBMPX dropped -19.69% vs PTEAX's -38.72%.
PTEAX currently has the higher Sharpe Ratio (2.30 vs 1.22), 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.
Find the right allocation for PBMPX and PTEAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer