PGDIX vs. ONEQ

Last updated Jun 24, 2026

PGDIX (Principal Diversified Income Fund) and ONEQ (Fidelity Nasdaq Composite Index ETF) are both funds - PGDIX is a Multisector Bonds fund managed by Principal Funds, while ONEQ is a Large Cap Growth Equities fund tracking the Nasdaq Composite Index. Over the past 10 years, PGDIX returned 4.01%/yr vs 19.63%/yr for ONEQ. A 0.56 correlation means they provide meaningful diversification when combined. PGDIX charges 0.68%/yr vs 0.21%/yr for ONEQ.

Performance

PGDIX vs. ONEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Diversified Income Fund (PGDIX) and Fidelity Nasdaq Composite Index ETF (ONEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGDIX achieves a -0.36% return, which is significantly lower than ONEQ's 10.75% return. Over the past 10 years, PGDIX has underperformed ONEQ with an annualized return of 4.01%, while ONEQ has yielded a comparatively higher 19.63% annualized return.

PGDIX

• 1D: -0.09%
• 1M: 0.32%
• YTD: -0.36%
• 6M: -0.32%
• 1Y: 2.97%
• 3Y*: 5.74%
• 5Y*: 2.15%
• 10Y*: 4.01%

ONEQ

• 1D: -2.25%
• 1M: -2.78%
• YTD: 10.75%
• 6M: 9.24%
• 1Y: 31.59%
• 3Y*: 24.80%
• 5Y*: 13.39%
• 10Y*: 19.63%

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

PGDIX vs. ONEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PGDIX Principal Diversified Income Fund	-0.36%	6.50%	5.44%	8.53%	-11.20%	8.66%	1.89%	13.77%	-5.38%	10.23%
ONEQ Fidelity Nasdaq Composite Index ETF	10.75%	20.89%	29.30%	45.73%	-32.12%	22.11%	44.87%	38.01%	-3.18%	29.29%

Correlation

The correlation between PGDIX and ONEQ is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Dec 16, 2008	0.56

The correlation between PGDIX and ONEQ shifts across timeframes, from 0.34 (3 years) to 0.56 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PGDIX vs. ONEQ — Risk / Return Rank

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

PGDIX

PGDIX Risk / Return Rank: 14
PGDIX Sharpe Ratio Rank: 17
PGDIX Sortino Ratio Rank: 15
PGDIX Omega Ratio Rank: 19
PGDIX Calmar Ratio Rank: 10
PGDIX Martin Ratio Rank: 11

ONEQ

ONEQ Risk / Return Rank: 54
ONEQ Sharpe Ratio Rank: 56
ONEQ Sortino Ratio Rank: 52
ONEQ Omega Ratio Rank: 53
ONEQ Calmar Ratio Rank: 52
ONEQ Martin Ratio Rank: 56

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.

PGDIX vs. ONEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Diversified Income Fund (PGDIX) and Fidelity Nasdaq Composite Index ETF (ONEQ). 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.

	PGDIX	ONEQ	Difference
Sharpe ratio: Return per unit of total volatility	1.08	1.83	-0.75
Sortino ratio: Return per unit of downside risk	1.48	2.44	-0.96
Omega ratio: Gain probability vs. loss probability	1.21	1.32	-0.11
Calmar ratio: Return relative to maximum drawdown	0.93	2.51	-1.58
Martin ratio: Return relative to average drawdown	2.90	9.53	-6.63

PGDIX vs. ONEQ - Sharpe Ratio Comparison

The current PGDIX Sharpe Ratio is 1.08, which is lower than the ONEQ Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of PGDIX and ONEQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PGDIX vs. ONEQ - Drawdown Comparison

The maximum PGDIX drawdown since its inception was -23.76%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for PGDIX and ONEQ.

Drawdown Indicators

	PGDIX	ONEQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.76%	-55.09%	+31.33%
Max Drawdown (1Y) Largest decline over 1 year	-3.38%	-12.64%	+9.26%
Max Drawdown (3Y) Largest decline over 3 years	-3.56%	-24.09%	+20.53%
Max Drawdown (5Y) Largest decline over 5 years	-14.60%	-35.23%	+20.63%
Max Drawdown (10Y) Largest decline over 10 years	-23.76%	-35.23%	+11.47%
Current Drawdown Current decline from peak	-1.31%	-5.46%	+4.15%
Average Drawdown Average peak-to-trough decline	-2.75%	-7.94%	+5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	3.32%	-2.23%

Volatility

PGDIX vs. ONEQ - Volatility Comparison

The current volatility for Principal Diversified Income Fund (PGDIX) is 0.75%, while Fidelity Nasdaq Composite Index ETF (ONEQ) has a volatility of 7.59%. This indicates that PGDIX experiences smaller price fluctuations and is considered to be less risky than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PGDIX	ONEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	7.59%	-6.84%
Volatility (6M) Calculated over the trailing 6-month period	2.30%	13.69%	-11.39%
Volatility (1Y) Calculated over the trailing 1-year period	2.94%	17.41%	-14.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.06%	22.36%	-18.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	21.79%	-16.56%

PGDIX vs. ONEQ - Expense Ratio Comparison

PGDIX has a 0.68% expense ratio, which is higher than ONEQ's 0.21% expense ratio.

Dividends

PGDIX vs. ONEQ - Dividend Comparison

PGDIX's dividend yield for the trailing twelve months is around 5.82%, more than ONEQ's 0.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEQ Fidelity Nasdaq Composite Index ETF	0.73%	0.54%	0.65%	0.71%	0.97%	0.54%	0.71%	2.51%	1.08%	0.84%	1.12%	1.04%
PGDIX Principal Diversified Income Fund	5.82%	6.17%	6.28%	6.47%	5.34%	4.59%	4.63%	5.12%	5.10%	4.67%	5.76%	5.27%

Frequently Asked Questions

Can I hold both PGDIX and ONEQ in my portfolio?

PGDIX and ONEQ have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGDIX or ONEQ?

ONEQ has higher volatility (7.59%) compared to PGDIX (0.75%). In terms of maximum drawdown, PGDIX dropped -23.76% vs ONEQ's -55.09%.

Which has better risk-adjusted returns?

ONEQ currently has the higher Sharpe Ratio (1.83 vs 1.07), 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.