PMAQX vs. CMNWX
PMAQX (Principal MidCap R6) and CMNWX (Principal Capital Appreciation Fund) are both mutual funds - PMAQX is a Mid Cap Growth Equities fund managed by Principal, while CMNWX is a Large Cap Blend Equities fund managed by Principal. Over the past 5 years, PMAQX returned 4.40%/yr vs 13.04%/yr for CMNWX. Their correlation of 0.85 means they have usually moved in the same direction. PMAQX charges 0.60%/yr vs 0.80%/yr for CMNWX.
Performance
PMAQX vs. CMNWX - Performance Comparison
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Returns By Period
In the year-to-date period, PMAQX achieves a -4.40% return, which is significantly lower than CMNWX's 8.52% return.
PMAQX
- 1D
- -0.75%
- 1M
- -1.32%
- 6M
- -4.05%
- YTD
- -4.40%
- 1Y
- -7.95%
- 3Y*
- 9.14%
- 5Y*
- 4.40%
- 10Y*
- —
- ALL TIME*
- 12.19%
CMNWX
- 1D
- 0.43%
- 1M
- -0.71%
- 6M
- 6.39%
- YTD
- 8.52%
- 1Y
- 17.70%
- 3Y*
- 19.80%
- 5Y*
- 13.04%
- 10Y*
- 15.01%
- ALL TIME*
- 14.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
PMAQX Principal MidCap R6 | $0.00 | $0.00 | $0.00 |
PMAQX vs. CMNWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMAQX Principal MidCap R6 | -4.40% | 1.71% | 23.74% | 26.02% | -23.09% | 25.29% | 18.38% | 49.59% | -6.79% | 24.68% |
CMNWX Principal Capital Appreciation Fund | 8.52% | 13.27% | 32.14% | 25.01% | -16.37% | 27.45% | 18.36% | 32.21% | -4.12% | 20.64% |
Correlation
The correlation between PMAQX and CMNWX is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.85 |
Over the past year, the correlation between PMAQX and CMNWX has dropped to 0.54 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
PMAQX vs. CMNWX — Risk / Return Rank
PMAQX
CMNWX
PMAQX vs. CMNWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal MidCap R6 (PMAQX) and Principal Capital Appreciation Fund (CMNWX). 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.
| PMAQX | CMNWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.21 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 1.81 | -2.27 |
| Martin ratioReturn relative to average drawdown | -0.91 | 7.71 | -8.63 |
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Drawdowns
PMAQX vs. CMNWX - Drawdown Comparison
The maximum PMAQX drawdown since its inception was -40.56%, smaller than the maximum CMNWX drawdown of -50.43%. Use the drawdown chart below to compare losses from any high point for PMAQX and CMNWX.
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Drawdown Indicators
| PMAQX | CMNWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.56% | -50.43% | +9.87% |
Max Drawdown (1Y)Largest decline over 1 year | -19.25% | -8.91% | -10.34% |
Max Drawdown (3Y)Largest decline over 3 years | -19.25% | -19.54% | +0.29% |
Max Drawdown (5Y)Largest decline over 5 years | -31.10% | -23.35% | -7.75% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.26% | — |
Current DrawdownCurrent decline from peak | -10.62% | -2.06% | -8.56% |
Average DrawdownAverage peak-to-trough decline | -6.89% | -6.92% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.81% | 2.08% | +7.73% |
Volatility
PMAQX vs. CMNWX - Volatility Comparison
Principal MidCap R6 (PMAQX) has a higher volatility of 5.21% compared to Principal Capital Appreciation Fund (CMNWX) at 3.42%. This indicates that PMAQX's price experiences larger fluctuations and is considered to be riskier than CMNWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMAQX | CMNWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 3.42% | +1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 12.03% | 10.45% | +1.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.19% | 13.39% | +1.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.74% | 16.93% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.43% | 17.20% | +2.23% |
PMAQX vs. CMNWX - Expense Ratio Comparison
PMAQX has a 0.60% expense ratio, which is lower than CMNWX's 0.80% expense ratio.
Dividends
PMAQX vs. CMNWX - Dividend Comparison
PMAQX's dividend yield for the trailing twelve months is around 6.07%, less than CMNWX's 8.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMNWX Principal Capital Appreciation Fund | 8.06% | 8.75% | 10.03% | 0.71% | 0.69% | 9.52% | 5.33% | 8.37% | 46.60% | 7.72% | 10.32% | 5.42% |
PMAQX Principal MidCap R6 | 6.07% | 5.80% | 6.46% | 2.58% | 3.18% | 7.96% | 1.08% | 9.14% | 12.39% | 3.39% | 0.00% | 0.00% |
Frequently Asked Questions
PMAQX and CMNWX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMAQX has higher volatility (5.21%) compared to CMNWX (3.42%). In terms of maximum drawdown, PMAQX dropped -40.56% vs CMNWX's -50.43%.
CMNWX currently has the higher Sharpe Ratio (1.20 vs -0.59), 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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