PCBIX vs. CPHYX
PCBIX (Principal MidCap Fund Institutional Class) and CPHYX (Principal High Yield Fund) are both mutual funds - PCBIX is a Mid Cap Growth Equities fund managed by Principal, while CPHYX is a High Yield Bonds fund managed by Principal. Over the past 10 years, PCBIX returned 11.98%/yr vs 4.81%/yr for CPHYX. At a 0.42 correlation, their price movements are largely independent. PCBIX charges 0.67%/yr vs 0.91%/yr for CPHYX.
Performance
PCBIX vs. CPHYX - Performance Comparison
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Returns By Period
In the year-to-date period, PCBIX achieves a -4.18% return, which is significantly lower than CPHYX's 1.63% return. Over the past 10 years, PCBIX has outperformed CPHYX with an annualized return of 11.98%, while CPHYX has yielded a comparatively lower 4.81% annualized return.
PCBIX
- 1D
- 0.34%
- 1M
- 2.27%
- 6M
- -7.22%
- YTD
- -4.18%
- 1Y
- -7.90%
- 3Y*
- 9.45%
- 5Y*
- 4.79%
- 10Y*
- 11.98%
CPHYX
- 1D
- 0.00%
- 1M
- 0.23%
- 6M
- 1.33%
- YTD
- 1.63%
- 1Y
- 4.73%
- 3Y*
- 7.27%
- 5Y*
- 3.46%
- 10Y*
- 4.81%
PCBIX vs. CPHYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCBIX Principal MidCap Fund Institutional Class | -4.18% | 1.62% | 23.63% | 25.92% | -23.16% | 25.22% | 18.25% | 49.40% | -6.86% | 25.32% |
CPHYX Principal High Yield Fund | 1.63% | 6.68% | 7.09% | 11.27% | -9.32% | 5.41% | 6.11% | 13.24% | -4.76% | 7.78% |
Correlation
The correlation between PCBIX and CPHYX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 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
PCBIX vs. CPHYX — Risk / Return Rank
PCBIX
CPHYX
PCBIX vs. CPHYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal MidCap Fund Institutional Class (PCBIX) and Principal High Yield Fund (CPHYX). 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.
| PCBIX | CPHYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.34 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | 1.76 | -2.21 |
| Martin ratioReturn relative to average drawdown | -0.92 | 8.80 | -9.72 |
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Drawdowns
PCBIX vs. CPHYX - Drawdown Comparison
The maximum PCBIX drawdown since its inception was -50.25%, which is greater than CPHYX's maximum drawdown of -27.79%. Use the drawdown chart below to compare losses from any high point for PCBIX and CPHYX.
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Drawdown Indicators
| PCBIX | CPHYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.25% | -27.79% | -22.46% |
Max Drawdown (1Y)Largest decline over 1 year | -19.29% | -2.61% | -16.68% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -4.48% | -14.81% |
Max Drawdown (5Y)Largest decline over 5 years | -31.17% | -14.33% | -16.84% |
Max Drawdown (10Y)Largest decline over 10 years | -40.56% | -20.68% | -19.88% |
Current DrawdownCurrent decline from peak | -10.44% | -0.30% | -10.14% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -2.61% | -3.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.51% | 0.52% | +8.99% |
Volatility
PCBIX vs. CPHYX - Volatility Comparison
Principal MidCap Fund Institutional Class (PCBIX) has a higher volatility of 4.07% compared to Principal High Yield Fund (CPHYX) at 0.75%. This indicates that PCBIX's price experiences larger fluctuations and is considered to be riskier than CPHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCBIX | CPHYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.07% | 0.75% | +3.32% |
Volatility (6M)Calculated over the trailing 6-month period | 11.70% | 2.56% | +9.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.70% | 3.19% | +11.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.70% | 4.77% | +13.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.10% | 5.32% | +13.78% |
PCBIX vs. CPHYX - Expense Ratio Comparison
PCBIX has a 0.67% expense ratio, which is lower than CPHYX's 0.91% expense ratio.
Dividends
PCBIX vs. CPHYX - Dividend Comparison
PCBIX's dividend yield for the trailing twelve months is around 6.07%, less than CPHYX's 6.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPHYX Principal High Yield Fund | 6.62% | 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 | 6.07% | 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
PCBIX and CPHYX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCBIX has higher volatility (4.07%) compared to CPHYX (0.75%). In terms of maximum drawdown, PCBIX dropped -50.25% vs CPHYX's -27.79%.
CPHYX currently has the higher Sharpe Ratio (1.44 vs -0.60), 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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