PISMX vs. AVANX

Last updated Jun 24, 2026

PISMX (Principal International Small Company Fund) and AVANX (Avantis International Small Cap Value Fund Class G) are both Foreign Small & Mid Cap Equities funds. Over the past 3 years, PISMX returned 14.65%/yr vs 28.63%/yr for AVANX. Their correlation of 0.95 suggests significant overlap in exposure.

Performance

PISMX vs. AVANX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal International Small Company Fund (PISMX) and Avantis International Small Cap Value Fund Class G (AVANX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PISMX achieves a 4.48% return, which is significantly lower than AVANX's 16.63% return.

PISMX

• 1D: -0.31%
• 1M: 0.93%
• YTD: 4.48%
• 6M: 3.63%
• 1Y: 15.87%
• 3Y*: 14.65%
• 5Y*: 4.05%
• 10Y*: 7.47%

AVANX

• 1D: 0.69%
• 1M: 0.74%
• YTD: 16.63%
• 6M: 15.99%
• 1Y: 44.85%
• 3Y*: 28.63%
• 5Y*: —
• 10Y*: —

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

PISMX vs. AVANX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PISMX Principal International Small Company Fund	4.48%	32.35%	1.09%	13.19%	-14.62%
AVANX Avantis International Small Cap Value Fund Class G	16.63%	48.78%	8.80%	17.17%	-7.66%

Correlation

The correlation between PISMX and AVANX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	0.95

The correlation between PISMX and AVANX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

PISMX vs. AVANX — Risk / Return Rank

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

PISMX

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

AVANX

AVANX Risk / Return Rank: 84
AVANX Sharpe Ratio Rank: 92
AVANX Sortino Ratio Rank: 86
AVANX Omega Ratio Rank: 83
AVANX Calmar Ratio Rank: 81
AVANX Martin Ratio Rank: 80

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.

PISMX vs. AVANX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal International Small Company Fund (PISMX) and Avantis International Small Cap Value Fund Class G (AVANX). 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.

	PISMX	AVANX	Difference
Sharpe ratio: Return per unit of total volatility	1.08	2.87	-1.79
Sortino ratio: Return per unit of downside risk	1.58	3.78	-2.20
Omega ratio: Gain probability vs. loss probability	1.20	1.51	-0.31
Calmar ratio: Return relative to maximum drawdown	1.20	3.55	-2.35
Martin ratio: Return relative to average drawdown	3.95	13.84	-9.89

PISMX vs. AVANX - Sharpe Ratio Comparison

The current PISMX Sharpe Ratio is 1.08, which is lower than the AVANX Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of PISMX and AVANX, 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

PISMX vs. AVANX - Drawdown Comparison

The maximum PISMX drawdown since its inception was -43.91%, which is greater than AVANX's maximum drawdown of -25.35%. Use the drawdown chart below to compare losses from any high point for PISMX and AVANX.

Drawdown Indicators

	PISMX	AVANX	Difference
Max Drawdown Largest peak-to-trough decline	-43.91%	-25.35%	-18.56%
Max Drawdown (1Y) Largest decline over 1 year	-13.73%	-12.86%	-0.87%
Max Drawdown (3Y) Largest decline over 3 years	-13.73%	-13.83%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-36.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.91%	—	—
Current Drawdown Current decline from peak	-4.60%	-1.34%	-3.26%
Average Drawdown Average peak-to-trough decline	-10.57%	-4.79%	-5.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	3.29%	+0.89%

Volatility

PISMX vs. AVANX - Volatility Comparison

The current volatility for Principal International Small Company Fund (PISMX) is 4.98%, while Avantis International Small Cap Value Fund Class G (AVANX) has a volatility of 5.71%. This indicates that PISMX experiences smaller price fluctuations and is considered to be less risky than AVANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PISMX	AVANX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	5.71%	-0.73%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	13.36%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	15.29%	15.94%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	17.15%	-0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.83%	17.15%	-0.32%

Dividends

PISMX vs. AVANX - Dividend Comparison

PISMX's dividend yield for the trailing twelve months is around 2.81%, less than AVANX's 9.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVANX Avantis International Small Cap Value Fund Class G	9.31%	10.86%	4.74%	3.87%	3.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PISMX Principal International Small Company Fund	2.81%	2.93%	4.01%	1.97%	1.20%	9.45%	1.22%	2.83%	9.46%	4.93%	0.29%	1.25%

Frequently Asked Questions

Can I hold both PISMX and AVANX in my portfolio?

With a correlation of 0.92, PISMX and AVANX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PISMX or AVANX?

AVANX has higher volatility (5.71%) compared to PISMX (4.98%). In terms of maximum drawdown, PISMX dropped -43.91% vs AVANX's -25.35%.

Which has better risk-adjusted returns?

AVANX currently has the higher Sharpe Ratio (2.87 vs 1.08), 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.