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PMBMX vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

PMBMX vs. ^GSPC

Last updated Jun 5, 2026

PMBMX (Principal MidCap Fund) is Mid Cap Growth Equities fund managed by Principal, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, PMBMX returned 11.23%/yr vs 13.65%/yr for ^GSPC. Their correlation of 0.90 suggests significant overlap in exposure.

Performance

PMBMX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal MidCap Fund (PMBMX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, PMBMX achieves a -8.91% return, which is significantly lower than ^GSPC's 10.79% return. Over the past 10 years, PMBMX has underperformed ^GSPC with an annualized return of 11.23%, while ^GSPC has yielded a comparatively higher 13.65% annualized return.

PMBMX

1D
-1.45%
1M
-0.65%
YTD
-8.91%
6M
-9.65%
1Y
-10.31%
3Y*
9.28%
5Y*
4.29%
10Y*
11.23%

^GSPC

1D
0.41%
1M
4.48%
YTD
10.79%
6M
10.60%
1Y
27.02%
3Y*
21.07%
5Y*
12.39%
10Y*
13.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PMBMX vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PMBMX
Principal MidCap Fund		-8.91%1.16%23.38%25.36%-23.52%24.63%17.69%49.09%-7.28%24.73%
^GSPC
S&P 500 Index		10.79%16.39%23.31%24.23%-19.44%26.89%16.26%28.88%-6.24%19.42%

Correlation

The correlation between PMBMX and ^GSPC is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.65

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.84

Correlation (10Y)
Calculated over the trailing 10-year period

0.85

Correlation (All Time)
Calculated using the full available price history since Dec 7, 2000

0.90

Over the past year, the correlation between PMBMX and ^GSPC has dropped to 0.65 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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Principal MidCap Fund

S&P 500 Index

Often compared with PMBMX:
PMBMX vs. FSMDXPMBMX vs. FMDGXPMBMX vs. ONEQPMBMX vs. VIGPMBMX vs. VOPMBMX vs. QQQPMBMX vs. VIMAX
Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. GC=F^GSPC vs. TSMU^GSPC vs. QQQ^GSPC vs. ACWI

Return for Risk

PMBMX vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PMBMX
PMBMX Risk / Return Rank: 11
Overall Rank
PMBMX Sharpe Ratio Rank: 11
Sharpe Ratio Rank
PMBMX Sortino Ratio Rank: 11
Sortino Ratio Rank
PMBMX Omega Ratio Rank: 11
Omega Ratio Rank
PMBMX Calmar Ratio Rank: 11
Calmar Ratio Rank
PMBMX Martin Ratio Rank: 11
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 8080
Overall Rank
^GSPC Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7979
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7979
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 7676
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8686
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.

PMBMX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal MidCap Fund (PMBMX) and S&P 500 Index (^GSPC). 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.

PMBMX^GSPCDifference
Sharpe ratioReturn per unit of total volatility
-0.73
2.28

-3.01

Sortino ratioReturn per unit of downside risk
-0.96
3.12

-4.08

Omega ratioGain probability vs. loss probability

0.89

1.41

-0.52

Calmar ratioReturn relative to maximum drawdown

-0.53

2.98

-3.52

Martin ratioReturn relative to average drawdown

-1.17

13.78

-14.95

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

PMBMX vs. ^GSPC - Sharpe Ratio Comparison

The current PMBMX Sharpe Ratio is -0.73, which is lower than the ^GSPC Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of PMBMX and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PMBMX^GSPCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.73

2.28

-3.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.23

0.74

-0.51

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.76

-0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.56

0.47

+0.08

Drawdowns

PMBMX vs. ^GSPC - Drawdown Comparison

The maximum PMBMX drawdown since its inception was -50.69%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for PMBMX and ^GSPC.

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Drawdown Indicators

PMBMX^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-50.69%

-56.78%

+6.09%

Max Drawdown (1Y)

Largest decline over 1 year

-19.53%

-9.10%

-10.43%

Max Drawdown (3Y)

Largest decline over 3 years

-19.53%

-18.90%

-0.63%

Max Drawdown (5Y)

Largest decline over 5 years

-31.48%

-25.43%

-6.05%

Max Drawdown (10Y)

Largest decline over 10 years

-40.60%

-33.92%

-6.68%

Current Drawdown

Current decline from peak

-15.01%

-0.33%

-14.68%

Average Drawdown

Average peak-to-trough decline

-6.73%

-10.72%

+3.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.88%

1.97%

+6.91%

Volatility

PMBMX vs. ^GSPC - Volatility Comparison

Principal MidCap Fund (PMBMX) has a higher volatility of 4.20% compared to S&P 500 Index (^GSPC) at 2.88%. This indicates that PMBMX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PMBMX^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.20%

2.88%

+1.32%

Volatility (6M)

Calculated over the trailing 6-month period

11.24%

9.00%

+2.24%

Volatility (1Y)

Calculated over the trailing 1-year period

14.31%

11.89%

+2.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.66%

16.90%

+1.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.18%

18.06%

+1.12%

Frequently Asked Questions

PMBMX and ^GSPC have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

PMBMX has higher volatility (4.20%) compared to ^GSPC (2.88%). In terms of maximum drawdown, PMBMX dropped -50.69% vs ^GSPC's -56.78%.

^GSPC currently has the higher Sharpe Ratio (2.28 vs -0.73), 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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