PMBMX vs. ^GSPC
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 11.55%/yr vs 13.17%/yr for ^GSPC. Their correlation of 0.90 suggests significant overlap in exposure.
Performance
PMBMX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, PMBMX achieves a -3.42% return, which is significantly lower than ^GSPC's 8.94% return. Over the past 10 years, PMBMX has underperformed ^GSPC with an annualized return of 11.55%, while ^GSPC has yielded a comparatively higher 13.17% annualized return.
PMBMX
- 1D
- 1.30%
- 1M
- 3.56%
- 6M
- -6.20%
- YTD
- -3.42%
- 1Y
- -8.20%
- 3Y*
- 8.78%
- 5Y*
- 4.95%
- 10Y*
- 11.55%
^GSPC
- 1D
- -1.01%
- 1M
- 0.51%
- 6M
- 7.46%
- YTD
- 8.94%
- 1Y
- 18.43%
- 3Y*
- 17.86%
- 5Y*
- 11.50%
- 10Y*
- 13.17%
PMBMX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMBMX Principal MidCap Fund | -3.42% | 1.16% | 23.38% | 25.36% | -23.52% | 24.63% | 17.69% | 49.09% | -7.28% | 24.73% |
^GSPC S&P 500 Index | 8.94% | 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 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2000 | 0.90 |
Over the past year, the correlation between PMBMX and ^GSPC has dropped to 0.61 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.
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Return for Risk
PMBMX vs. ^GSPC — Risk / Return Rank
PMBMX
^GSPC
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.
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.
| PMBMX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.97 | ||
| Sortino ratioReturn per unit of downside risk | -2.67 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.27 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 2.03 | -2.41 |
| Martin ratioReturn relative to average drawdown | -0.75 | 8.80 | -9.55 |
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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 | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -9.90% | -2.00% | -7.90% |
Average DrawdownAverage peak-to-trough decline | -6.75% | -10.70% | +3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.80% | 2.10% | +7.70% |
Volatility
PMBMX vs. ^GSPC - Volatility Comparison
Principal MidCap Fund (PMBMX) has a higher volatility of 3.94% compared to S&P 500 Index (^GSPC) at 3.36%. 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 | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.94% | 3.36% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 10.04% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.77% | 12.60% | +2.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 17.00% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.13% | 18.05% | +1.08% |
Frequently Asked Questions
PMBMX and ^GSPC have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMBMX has higher volatility (3.94%) compared to ^GSPC (3.36%). In terms of maximum drawdown, PMBMX dropped -50.69% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.47 vs -0.50), 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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