PLSAX vs. PLFIX

Last updated Jun 4, 2026

PLSAX (Principal LargeCap S&P 500 Index Fund Class A) and PLFIX (Principal Large Cap S&P 500 Index Fund Institutional) are both S&P 500 funds tracking the S&P 500 Index, from Principal Funds and Principal respectively. Both are passively managed. Over the past 10 years, PLSAX returned 15.34%/yr vs 15.64%/yr for PLFIX. With a 1.00 correlation, they move nearly in lockstep. PLSAX charges 0.38%/yr vs 0.11%/yr for PLFIX.

Performance

PLSAX vs. PLFIX - 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 Principal Large Cap S&P 500 Index Fund Institutional (PLFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PLSAX having a 11.59% return and PLFIX slightly higher at 11.68%. Both investments have delivered pretty close results over the past 10 years, with PLSAX having a 15.34% annualized return and PLFIX not far ahead at 15.64%.

PLSAX

• 1D: 0.14%
• 1M: 5.77%
• YTD: 11.59%
• 6M: 11.61%
• 1Y: 28.62%
• 3Y*: 22.93%
• 5Y*: 14.17%
• 10Y*: 15.34%

PLFIX

• 1D: 0.14%
• 1M: 5.79%
• YTD: 11.68%
• 6M: 11.75%
• 1Y: 28.92%
• 3Y*: 23.21%
• 5Y*: 14.45%
• 10Y*: 15.64%

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

PLSAX vs. PLFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PLSAX Principal LargeCap S&P 500 Index Fund Class A	11.59%	17.50%	26.46%	25.70%	-18.41%	27.93%	17.85%	30.97%	-4.93%	21.23%
PLFIX Principal Large Cap S&P 500 Index Fund Institutional	11.68%	17.77%	26.77%	26.00%	-18.21%	28.25%	18.11%	31.35%	-4.66%	21.65%

Correlation

The correlation between PLSAX and PLFIX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	1.00
Correlation (All Time) Calculated using the full available price history since Mar 1, 2001	1.00

The correlation between PLSAX and PLFIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

PLSAX vs. PLFIX — Risk / Return Rank

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

PLSAX

PLSAX Risk / Return Rank: 72
PLSAX Sharpe Ratio Rank: 74
PLSAX Sortino Ratio Rank: 66
PLSAX Omega Ratio Rank: 66
PLSAX Calmar Ratio Rank: 72
PLSAX Martin Ratio Rank: 82

PLFIX

PLFIX Risk / Return Rank: 73
PLFIX Sharpe Ratio Rank: 75
PLFIX Sortino Ratio Rank: 67
PLFIX Omega Ratio Rank: 68
PLFIX Calmar Ratio Rank: 73
PLFIX Martin Ratio Rank: 83

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. PLFIX - 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 Principal Large Cap S&P 500 Index Fund Institutional (PLFIX). 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.

	PLSAX	PLFIX	Difference
Sharpe ratio Return per unit of total volatility	2.49	2.52	-0.02
Sortino ratio Return per unit of downside risk	3.39	3.42	-0.03
Omega ratio Gain probability vs. loss probability	1.45	1.46	0.00
Calmar ratio Return relative to maximum drawdown	3.30	3.34	-0.04
Martin ratio Return relative to average drawdown	15.41	15.63	-0.22
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. PLFIX - Sharpe Ratio Comparison

The current PLSAX Sharpe Ratio is 2.49, which is comparable to the PLFIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of PLSAX and PLFIX, 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

	PLSAX	PLFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	2.52	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.86	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.90	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.49	-0.05

Drawdowns

PLSAX vs. PLFIX - Drawdown Comparison

The maximum PLSAX drawdown since its inception was -55.67%, roughly equal to the maximum PLFIX drawdown of -55.28%. Use the drawdown chart below to compare losses from any high point for PLSAX and PLFIX.

Drawdown Indicators

	PLSAX	PLFIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.67%	-55.28%	-0.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-8.90%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-18.78%	-18.77%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-24.69%	-24.58%	-0.11%
Max Drawdown (10Y) Largest decline over 10 years	-33.79%	-33.77%	-0.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.15%	-8.86%	-1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.90%	+0.01%

Volatility

PLSAX vs. PLFIX - Volatility Comparison

Principal LargeCap S&P 500 Index Fund Class A (PLSAX) and Principal Large Cap S&P 500 Index Fund Institutional (PLFIX) have volatilities of 2.82% and 2.82%, 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.

Volatility by Period

	PLSAX	PLFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	2.82%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	8.96%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	11.84%	11.84%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	16.91%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.50%	17.52%	-0.02%

PLSAX vs. PLFIX - Expense Ratio Comparison

PLSAX has a 0.38% expense ratio, which is higher than PLFIX's 0.11% expense ratio.

Dividends

PLSAX vs. PLFIX - Dividend Comparison

PLSAX's dividend yield for the trailing twelve months is around 2.47%, less than PLFIX's 2.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLFIX Principal Large Cap S&P 500 Index Fund Institutional	2.64%	2.95%	4.28%	4.13%	2.96%	13.60%	7.57%	3.83%	7.52%	7.01%	3.23%	2.69%
PLSAX Principal LargeCap S&P 500 Index Fund Class A	2.47%	2.75%	4.07%	3.90%	2.70%	13.38%	7.35%	3.57%	7.19%	6.72%	2.93%	2.36%

Frequently Asked Questions

Can I hold both PLSAX and PLFIX in my portfolio?

With a correlation of 1.00, PLSAX and PLFIX 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, PLSAX or PLFIX?

PLFIX has higher volatility (2.82%) compared to PLSAX (2.82%). In terms of maximum drawdown, PLSAX dropped -55.67% vs PLFIX's -55.28%.

Which has better risk-adjusted returns?

PLFIX currently has the higher Sharpe Ratio (2.52 vs 2.49), 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.