PLSAX vs. PTEAX
PLSAX (Principal LargeCap S&P 500 Index Fund Class A) and PTEAX (Principal Tax-Exempt Bond Fund) are both mutual funds - PLSAX is a S&P 500 fund tracking the S&P 500 Index, while PTEAX is a Municipal Bonds fund managed by Principal. Over the past 10 years, PLSAX returned 14.68%/yr vs 1.71%/yr for PTEAX. Their -0.09 correlation means they have often moved in opposite directions in the past. PLSAX charges 0.38%/yr vs 0.73%/yr for PTEAX.
Performance
PLSAX vs. PTEAX - Performance Comparison
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Returns By Period
In the year-to-date period, PLSAX achieves a 9.18% return, which is significantly higher than PTEAX's 0.02% return. Over the past 10 years, PLSAX has outperformed PTEAX with an annualized return of 14.68%, while PTEAX has yielded a comparatively lower 1.71% annualized return.
PLSAX
- 1D
- 1.64%
- 1M
- -0.59%
- 6M
- 7.65%
- YTD
- 9.18%
- 1Y
- 20.30%
- 3Y*
- 19.22%
- 5Y*
- 12.59%
- 10Y*
- 14.68%
- ALL TIME*
- 8.01%
PTEAX
- 1D
- -0.30%
- 1M
- -1.94%
- 6M
- -0.89%
- YTD
- 0.02%
- 1Y
- 4.69%
- 3Y*
- 3.09%
- 5Y*
- -0.20%
- 10Y*
- 1.71%
- ALL TIME*
- 1.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PLSAX vs. PTEAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PLSAX Principal LargeCap S&P 500 Index Fund Class A | 9.18% | 17.50% | 26.46% | 25.70% | -18.41% | 27.93% | 17.85% | 30.97% | -4.93% | 21.23% |
PTEAX Principal Tax-Exempt Bond Fund | 0.02% | 4.68% | 2.10% | 6.35% | -12.18% | 2.71% | 4.80% | 9.05% | 0.44% | 6.44% |
Correlation
The correlation between PLSAX and PTEAX is 0.17, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.17 |
Correlation (3Y) Balances recent behavior with more history. | 0.13 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2001 | -0.09 |
The correlation between PLSAX and PTEAX shifts across timeframes, from -0.09 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PLSAX vs. PTEAX — Risk / Return Rank
PLSAX
PTEAX
PLSAX vs. PTEAX - 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 Tax-Exempt Bond Fund (PTEAX). 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.
| PLSAX | PTEAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.50 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | 1.84 | +0.17 |
| Martin ratioReturn relative to average drawdown | 8.64 | 6.06 | +2.59 |
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Drawdowns
PLSAX vs. PTEAX - Drawdown Comparison
The maximum PLSAX drawdown since its inception was -55.67%, which is greater than PTEAX's maximum drawdown of -38.72%. Use the drawdown chart below to compare losses from any high point for PLSAX and PTEAX.
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Drawdown Indicators
| PLSAX | PTEAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.67% | -38.72% | -16.95% |
Max Drawdown (1Y)Largest decline over 1 year | -8.94% | -3.10% | -5.84% |
Max Drawdown (3Y)Largest decline over 3 years | -18.78% | -5.08% | -13.70% |
Max Drawdown (5Y)Largest decline over 5 years | -24.69% | -17.37% | -7.32% |
Max Drawdown (10Y)Largest decline over 10 years | -33.79% | -17.37% | -16.42% |
Current DrawdownCurrent decline from peak | -2.16% | -1.94% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -10.10% | -5.91% | -4.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 0.94% | +1.14% |
Volatility
PLSAX vs. PTEAX - Volatility Comparison
Principal LargeCap S&P 500 Index Fund Class A (PLSAX) has a higher volatility of 3.42% compared to Principal Tax-Exempt Bond Fund (PTEAX) at 0.92%. This indicates that PLSAX's price experiences larger fluctuations and is considered to be riskier than PTEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PLSAX | PTEAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 0.92% | +2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 10.07% | 2.26% | +7.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.84% | 2.93% | +9.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.03% | 4.02% | +13.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.50% | 4.40% | +13.10% |
PLSAX vs. PTEAX - Expense Ratio Comparison
PLSAX has a 0.38% expense ratio, which is lower than PTEAX's 0.73% expense ratio.
Dividends
PLSAX vs. PTEAX - Dividend Comparison
PLSAX's dividend yield for the trailing twelve months is around 2.52%, less than PTEAX's 3.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PLSAX Principal LargeCap S&P 500 Index Fund Class A | 2.52% | 2.75% | 4.07% | 3.90% | 2.70% | 13.38% | 7.35% | 3.57% | 7.19% | 6.72% | 2.93% | 2.36% |
PTEAX Principal Tax-Exempt Bond Fund | 3.56% | 4.66% | 3.73% | 2.81% | 2.27% | 2.15% | 2.23% | 3.09% | 3.68% | 3.69% | 3.91% | 3.75% |
Frequently Asked Questions
PLSAX and PTEAX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PLSAX has higher volatility (3.42%) compared to PTEAX (0.92%). In terms of maximum drawdown, PLSAX dropped -55.67% vs PTEAX's -38.72%.
PTEAX currently has the higher Sharpe Ratio (1.95 vs 1.40), 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.
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