PCBIX vs. SRCMX
PCBIX (Principal MidCap Fund Institutional Class) and SRCMX (Principal California Municipal Fund) are both mutual funds - PCBIX is a Mid Cap Growth Equities fund managed by Principal, while SRCMX is a Municipal Bonds fund managed by Principal. Over the past 10 years, PCBIX returned 12.26%/yr vs 1.78%/yr for SRCMX. At a correlation of -0.06, they often move in opposite directions. PCBIX charges 0.67%/yr vs 0.72%/yr for SRCMX.
Performance
PCBIX vs. SRCMX - Performance Comparison
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Returns By Period
In the year-to-date period, PCBIX achieves a -6.91% return, which is significantly lower than SRCMX's 1.54% return. Over the past 10 years, PCBIX has outperformed SRCMX with an annualized return of 12.26%, while SRCMX has yielded a comparatively lower 1.78% annualized return.
PCBIX
- 1D
- -1.02%
- 1M
- 2.71%
- YTD
- -6.91%
- 6M
- -8.20%
- 1Y
- -8.90%
- 3Y*
- 9.65%
- 5Y*
- 4.75%
- 10Y*
- 12.26%
SRCMX
- 1D
- 0.00%
- 1M
- 1.64%
- YTD
- 1.54%
- 6M
- 1.96%
- 1Y
- 6.16%
- 3Y*
- 3.78%
- 5Y*
- 0.40%
- 10Y*
- 1.78%
PCBIX vs. SRCMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PCBIX Principal MidCap Fund Institutional Class | -6.91% | 1.62% | 23.63% | 25.92% | -23.16% | 25.22% | 18.25% | 49.40% | -6.86% | 25.32% |
SRCMX Principal California Municipal Fund | 1.54% | 4.39% | 2.66% | 5.03% | -11.08% | 1.91% | 4.85% | 8.67% | -0.19% | 6.89% |
Correlation
The correlation between PCBIX and SRCMX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2001 | -0.06 |
The correlation between PCBIX and SRCMX shifts across timeframes, from -0.06 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PCBIX vs. SRCMX — Risk / Return Rank
PCBIX
SRCMX
PCBIX vs. SRCMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal MidCap Fund Institutional Class (PCBIX) and Principal California Municipal Fund (SRCMX). 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 | SRCMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -4.52 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.64 | -0.72 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 2.24 | -2.64 |
| Martin ratioReturn relative to average drawdown | -0.85 | 7.87 | -8.72 |
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Drawdowns
PCBIX vs. SRCMX - Drawdown Comparison
The maximum PCBIX drawdown since its inception was -50.25%, which is greater than SRCMX's maximum drawdown of -23.64%. Use the drawdown chart below to compare losses from any high point for PCBIX and SRCMX.
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Drawdown Indicators
| PCBIX | SRCMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.25% | -23.64% | -26.61% |
Max Drawdown (1Y)Largest decline over 1 year | -19.29% | -2.81% | -16.48% |
Max Drawdown (3Y)Largest decline over 3 years | -19.29% | -4.75% | -14.54% |
Max Drawdown (5Y)Largest decline over 5 years | -31.17% | -16.07% | -15.10% |
Max Drawdown (10Y)Largest decline over 10 years | -40.56% | -16.07% | -24.49% |
Current DrawdownCurrent decline from peak | -13.00% | -0.24% | -12.76% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -2.66% | -3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.16% | 0.80% | +8.36% |
Volatility
PCBIX vs. SRCMX - Volatility Comparison
Principal MidCap Fund Institutional Class (PCBIX) has a higher volatility of 4.40% compared to Principal California Municipal Fund (SRCMX) at 0.73%. This indicates that PCBIX's price experiences larger fluctuations and is considered to be riskier than SRCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PCBIX | SRCMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 0.73% | +3.67% |
Volatility (6M)Calculated over the trailing 6-month period | 11.64% | 1.99% | +9.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.67% | 2.61% | +12.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.69% | 3.50% | +15.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 4.15% | +15.03% |
PCBIX vs. SRCMX - Expense Ratio Comparison
PCBIX has a 0.67% expense ratio, which is lower than SRCMX's 0.72% expense ratio.
Dividends
PCBIX vs. SRCMX - Dividend Comparison
PCBIX's dividend yield for the trailing twelve months is around 6.25%, more than SRCMX's 3.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCBIX Principal MidCap Fund Institutional Class | 6.25% | 5.81% | 6.40% | 2.51% | 3.18% | 7.96% | 1.08% | 9.02% | 12.24% | 3.31% | 2.49% | 6.30% |
SRCMX Principal California Municipal Fund | 3.47% | 4.24% | 3.34% | 2.31% | 2.21% | 2.08% | 1.94% | 2.85% | 3.19% | 3.16% | 3.02% | 4.50% |
Frequently Asked Questions
PCBIX and SRCMX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCBIX has higher volatility (4.40%) compared to SRCMX (0.73%). In terms of maximum drawdown, PCBIX dropped -50.25% vs SRCMX's -23.64%.
SRCMX currently has the higher Sharpe Ratio (2.42 vs -0.53), 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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