PFG vs. EQH

Last updated Jun 3, 2026

PFG (Principal Financial Group, Inc.) and EQH (Equitable Holdings, Inc.) are both stocks. Both operate in the Insurance - Diversified industry within the Financial Services sector. Over the past 5 years, PFG returned 13.45%/yr vs 8.18%/yr for EQH. A 0.76 correlation means they provide meaningful diversification when combined.

Performance

PFG vs. EQH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Financial Group, Inc. (PFG) and Equitable Holdings, Inc. (EQH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFG achieves a 19.11% return, which is significantly higher than EQH's -11.47% return.

PFG

• 1D: 0.40%
• 1M: 3.01%
• YTD: 19.11%
• 6M: 25.79%
• 1Y: 39.15%
• 3Y*: 18.30%
• 5Y*: 13.45%
• 10Y*: 13.34%

EQH

• 1D: 2.62%
• 1M: -0.65%
• YTD: -11.47%
• 6M: -5.03%
• 1Y: -19.04%
• 3Y*: 20.27%
• 5Y*: 8.18%
• 10Y*: —

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

PFG vs. EQH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PFG Principal Financial Group, Inc.	19.11%	18.38%	1.87%	-2.83%	20.10%	51.35%	-5.19%	29.71%	-22.54%
EQH Equitable Holdings, Inc.	-11.47%	3.17%	45.04%	19.63%	-10.17%	31.00%	6.52%	53.13%	-17.22%

Correlation

The correlation between PFG and EQH is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 11, 2018	0.76

The correlation between PFG and EQH shifts across timeframes, from 0.65 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Fundamentals

EPS PFG : $6.97 EQH : -$3.67
PS Ratio PFG : 1.92 EQH : 0.82
Total Revenue (TTM) PFG : $12.07B EQH : $11.32B
Gross Profit (TTM) PFG : $5.76B EQH : $6.96B
EBITDA (TTM) PFG : $1.39B EQH : -$759.00M

Return for Risk

PFG vs. EQH — Risk / Return Rank

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

PFG

PFG Risk / Return Rank: 84
PFG Sharpe Ratio Rank: 85
PFG Sortino Ratio Rank: 81
PFG Omega Ratio Rank: 81
PFG Calmar Ratio Rank: 83
PFG Martin Ratio Rank: 88

EQH

EQH Risk / Return Rank: 17
EQH Sharpe Ratio Rank: 14
EQH Sortino Ratio Rank: 16
EQH Omega Ratio Rank: 16
EQH Calmar Ratio Rank: 22
EQH Martin Ratio Rank: 18

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.

PFG vs. EQH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Financial Group, Inc. (PFG) and Equitable Holdings, Inc. (EQH). 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.

	PFG	EQH	Difference
Sharpe ratio Return per unit of total volatility	1.83	-0.61	+2.44
Sortino ratio Return per unit of downside risk	2.41	-0.68	+3.09
Omega ratio Gain probability vs. loss probability	1.31	0.92	+0.40
Calmar ratio Return relative to maximum drawdown	3.25	-0.53	+3.78
Martin ratio Return relative to average drawdown	10.53	-1.06	+11.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFG vs. EQH - Sharpe Ratio Comparison

The current PFG Sharpe Ratio is 1.83, which is higher than the EQH Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of PFG and EQH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PFG	EQH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	-0.61	+2.44
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.25	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.31	-0.09

Drawdowns

PFG vs. EQH - Drawdown Comparison

The maximum PFG drawdown since its inception was -91.50%, which is greater than EQH's maximum drawdown of -61.33%. Use the drawdown chart below to compare losses from any high point for PFG and EQH.

Drawdown Indicators

	PFG	EQH	Difference
Max Drawdown Largest peak-to-trough decline	-91.50%	-61.33%	-30.17%
Max Drawdown (1Y) Largest decline over 1 year	-11.96%	-35.85%	+23.89%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	-35.85%	+13.42%
Max Drawdown (5Y) Largest decline over 5 years	-29.32%	-35.85%	+6.53%
Max Drawdown (10Y) Largest decline over 10 years	-64.73%	—	—
Current Drawdown Current decline from peak	-0.55%	-23.95%	+23.40%
Average Drawdown Average peak-to-trough decline	-21.87%	-12.08%	-9.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	17.74%	-14.05%

Volatility

PFG vs. EQH - Volatility Comparison

The current volatility for Principal Financial Group, Inc. (PFG) is 4.49%, while Equitable Holdings, Inc. (EQH) has a volatility of 10.56%. This indicates that PFG experiences smaller price fluctuations and is considered to be less risky than EQH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFG	EQH	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	10.56%	-6.07%
Volatility (6M) Calculated over the trailing 6-month period	15.50%	25.13%	-9.63%
Volatility (1Y) Calculated over the trailing 1-year period	21.51%	31.44%	-9.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.59%	32.99%	-6.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.95%	38.76%	-6.81%

Dividends

PFG vs. EQH - Dividend Comparison

PFG's dividend yield for the trailing twelve months is around 3.09%, more than EQH's 2.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EQH Equitable Holdings, Inc.	2.67%	2.20%	1.99%	2.58%	2.72%	2.17%	2.58%	2.34%	1.56%	0.00%	0.00%	0.00%
PFG Principal Financial Group, Inc.	3.09%	3.49%	3.68%	3.30%	3.05%	3.37%	4.52%	3.96%	4.75%	2.65%	2.78%	3.33%

Financials

Frequently Asked Questions

Can I hold both PFG and EQH in my portfolio?

PFG and EQH have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFG or EQH?

EQH has higher volatility (10.56%) compared to PFG (4.49%). In terms of maximum drawdown, PFG dropped -91.50% vs EQH's -61.33%.

Which has better risk-adjusted returns?

PFG currently has the higher Sharpe Ratio (1.83 vs -0.61), 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.