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PLSAX vs. MSXAX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

PLSAX vs. MSXAX

Last updated Apr 1, 2026

Compare and contrast key facts about Principal LargeCap S&P 500 Index Fund Class A (PLSAX) and NYLI S&P 500 Index Class A (MSXAX).

PLSAX is a passively managed fund by Principal Funds that tracks the performance of the S&P 500 Index. It was launched on Feb 2, 2001. MSXAX is a passively managed fund by New York Life that tracks the performance of the S&P 500 Index. It was launched on Jan 2, 2004. Both PLSAX and MSXAX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PLSAX vs. MSXAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal LargeCap S&P 500 Index Fund Class A (PLSAX) and NYLI S&P 500 Index Class A (MSXAX). The values are adjusted to include any dividend payments, if applicable.

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PLSAX vs. MSXAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PLSAX
Principal LargeCap S&P 500 Index Fund Class A		-7.11%17.50%26.46%25.70%-18.41%27.93%17.85%30.97%-4.93%21.23%
MSXAX
NYLI S&P 500 Index Class A		-7.16%17.26%23.98%25.96%-18.52%28.13%17.86%30.69%-4.71%21.07%

Returns By Period

The year-to-date returns for both stocks are quite close, with PLSAX having a -7.11% return and MSXAX slightly lower at -7.16%. Both investments have delivered pretty close results over the past 10 years, with PLSAX having a 13.42% annualized return and MSXAX not far behind at 13.18%.

PLSAX

1D
-0.40%
1M
-7.71%
YTD
-7.11%
6M
-4.72%
1Y
14.11%
3Y*
17.33%
5Y*
11.29%
10Y*
13.42%

MSXAX

1D
-0.40%
1M
-7.71%
YTD
-7.16%
6M
-4.84%
1Y
13.86%
3Y*
16.56%
5Y*
10.85%
10Y*
13.18%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Principal LargeCap S&P 500 Index Fund Class A

NYLI S&P 500 Index Class A

Often compared with PLSAX:
PLSAX vs. VOOPLSAX vs. FXAIXPLSAX vs. VTIPLSAX vs. MEIKXPLSAX vs. SPYPLSAX vs. RPMGXPLSAX vs. SNXFX
Often compared with MSXAX:
MSXAX vs. MLAAXMSXAX vs. VOOMSXAX vs. IQHIMSXAX vs. VVIAXMSXAX vs. VIGAXMSXAX vs. KLGAXMSXAX vs. SCSAX

PLSAX vs. MSXAX - Expense Ratio Comparison

PLSAX has a 0.38% expense ratio, which is lower than MSXAX's 0.52% expense ratio.

MSXAX
NYLI S&P 500 Index Class A
PLSAX
Principal LargeCap S&P 500 Index Fund Class A

Return for Risk

PLSAX vs. MSXAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PLSAX
PLSAX Risk / Return Rank: 4545
Overall Rank
PLSAX Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
PLSAX Sortino Ratio Rank: 4545
Sortino Ratio Rank
PLSAX Omega Ratio Rank: 4747
Omega Ratio Rank
PLSAX Calmar Ratio Rank: 4040
Calmar Ratio Rank
PLSAX Martin Ratio Rank: 5252
Martin Ratio Rank
MSXAX
MSXAX Risk / Return Rank: 4141
Overall Rank
MSXAX Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
MSXAX Sortino Ratio Rank: 4141
Sortino Ratio Rank
MSXAX Omega Ratio Rank: 4545
Omega Ratio Rank
MSXAX Calmar Ratio Rank: 3535
Calmar Ratio Rank
MSXAX Martin Ratio Rank: 4646
Martin Ratio Rank
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.

PLSAX vs. MSXAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal LargeCap S&P 500 Index Fund Class A (PLSAX) and NYLI S&P 500 Index Class A (MSXAX). 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.

PLSAXMSXAXDifference

Sharpe ratio

Return per unit of total volatility

0.83

0.81

+0.02

Sortino ratio

Return per unit of downside risk

1.31

1.26

+0.05

Omega ratio

Gain probability vs. loss probability

1.19

1.19

0.00

Calmar ratio

Return relative to maximum drawdown

1.03

0.95

+0.08

Martin ratio

Return relative to average drawdown

5.02

4.60

+0.42

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLSAX vs. MSXAX - Sharpe Ratio Comparison

The current PLSAX Sharpe Ratio is 0.83, which is comparable to the MSXAX Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of PLSAX and MSXAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

PLSAXMSXAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.83

0.81

+0.02

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.67

0.65

+0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

0.73

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

0.51

-0.12

Correlation

The correlation between PLSAX and MSXAX is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PLSAX vs. MSXAX - Dividend Comparison

PLSAX's dividend yield for the trailing twelve months is around 2.96%, more than MSXAX's 1.14% yield.

TTM20252024202320222021202020192018201720162015
PLSAX
Principal LargeCap S&P 500 Index Fund Class A		2.96%2.75%4.07%3.90%2.70%13.38%7.35%3.57%7.19%6.72%2.93%2.36%
MSXAX
NYLI S&P 500 Index Class A		1.14%1.06%5.20%4.04%10.30%4.44%8.78%17.42%14.49%15.18%9.63%5.53%

Drawdowns

PLSAX vs. MSXAX - Drawdown Comparison

The maximum PLSAX drawdown since its inception was -55.67%, roughly equal to the maximum MSXAX drawdown of -55.48%. Use the drawdown chart below to compare losses from any high point for PLSAX and MSXAX.

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Drawdown Indicators

PLSAXMSXAXDifference

Max Drawdown

Largest peak-to-trough decline

-55.67%

-55.48%

-0.19%

Max Drawdown (1Y)

Largest decline over 1 year

-12.13%

-12.11%

-0.02%

Max Drawdown (5Y)

Largest decline over 5 years

-24.69%

-24.78%

+0.09%

Max Drawdown (10Y)

Largest decline over 10 years

-33.79%

-33.79%

0.00%

Current Drawdown

Current decline from peak

-8.94%

-8.97%

+0.03%

Average Drawdown

Average peak-to-trough decline

-10.22%

-7.21%

-3.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.49%

2.58%

-0.09%

Volatility

PLSAX vs. MSXAX - Volatility Comparison

Principal LargeCap S&P 500 Index Fund Class A (PLSAX) and NYLI S&P 500 Index Class A (MSXAX) have volatilities of 4.22% and 4.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PLSAXMSXAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.22%

4.24%

-0.02%

Volatility (6M)

Calculated over the trailing 6-month period

9.07%

9.09%

-0.02%

Volatility (1Y)

Calculated over the trailing 1-year period

17.87%

18.13%

-0.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.87%

16.87%

0.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.46%

18.03%

-0.57%