PMBMX vs. ONEQ
PMBMX (Principal MidCap Fund) and ONEQ (Fidelity Nasdaq Composite Index ETF) are both funds - PMBMX is a Mid Cap Growth Equities fund managed by Principal, while ONEQ is a Large Cap Growth Equities fund tracking the Nasdaq Composite Index. Over the past 10 years, PMBMX returned 11.48%/yr vs 18.91%/yr for ONEQ. Their correlation of 0.82 means they have usually moved in the same direction. PMBMX charges 1.15%/yr vs 0.21%/yr for ONEQ.
Performance
PMBMX vs. ONEQ - Performance Comparison
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Returns By Period
In the year-to-date period, PMBMX achieves a -3.04% return, which is significantly lower than ONEQ's 15.38% return. Over the past 10 years, PMBMX has underperformed ONEQ with an annualized return of 11.48%, while ONEQ has yielded a comparatively higher 18.91% annualized return.
PMBMX
- 1D
- 1.76%
- 1M
- 0.37%
- 6M
- -0.05%
- YTD
- -3.04%
- 1Y
- -8.59%
- 3Y*
- 9.79%
- 5Y*
- 4.15%
- 10Y*
- 11.48%
- ALL TIME*
- 10.33%
ONEQ
- 1D
- 2.66%
- 1M
- 3.07%
- 6M
- 15.33%
- YTD
- 15.38%
- 1Y
- 27.83%
- 3Y*
- 25.31%
- 5Y*
- 13.53%
- 10Y*
- 18.91%
- ALL TIME*
- 13.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $38.64M | $33.76M | $40.02M | |
| $0.00 | $0.00 | $0.00 |
PMBMX vs. ONEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMBMX Principal MidCap Fund | -3.04% | 1.16% | 23.38% | 25.36% | -23.52% | 24.63% | 17.69% | 49.09% | -7.28% | 24.73% |
ONEQ Fidelity Nasdaq Composite Index ETF | 15.38% | 20.89% | 29.30% | 45.73% | -32.12% | 22.11% | 44.87% | 38.01% | -3.18% | 29.29% |
Correlation
The correlation between PMBMX and ONEQ is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2003 | 0.82 |
Over the past year, the correlation between PMBMX and ONEQ has dropped to 0.41 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.
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Return for Risk
PMBMX vs. ONEQ — Risk / Return Rank
PMBMX
ONEQ
PMBMX vs. ONEQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal MidCap Fund (PMBMX) and Fidelity Nasdaq Composite Index ETF (ONEQ). 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 | ONEQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.68 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.26 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 2.21 | -2.56 |
| Martin ratioReturn relative to average drawdown | -0.68 | 7.39 | -8.07 |
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Drawdowns
PMBMX vs. ONEQ - Drawdown Comparison
The maximum PMBMX drawdown since its inception was -50.69%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for PMBMX and ONEQ.
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Drawdown Indicators
| PMBMX | ONEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.69% | -55.09% | +4.40% |
Max Drawdown (1Y)Largest decline over 1 year | -19.49% | -12.64% | -6.85% |
Max Drawdown (3Y)Largest decline over 3 years | -19.53% | -24.09% | +4.56% |
Max Drawdown (5Y)Largest decline over 5 years | -31.48% | -35.23% | +3.75% |
Max Drawdown (10Y)Largest decline over 10 years | -40.60% | -35.23% | -5.37% |
Current DrawdownCurrent decline from peak | -9.54% | -1.52% | -8.02% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -7.93% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.05% | 3.78% | +6.27% |
Volatility
PMBMX vs. ONEQ - Volatility Comparison
The current volatility for Principal MidCap Fund (PMBMX) is 5.29%, while Fidelity Nasdaq Composite Index ETF (ONEQ) has a volatility of 6.49%. This indicates that PMBMX experiences smaller price fluctuations and is considered to be less risky than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMBMX | ONEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 6.49% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 12.17% | 14.89% | -2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.28% | 18.41% | -3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.78% | 22.53% | -3.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 21.85% | -2.67% |
PMBMX vs. ONEQ - Expense Ratio Comparison
PMBMX has a 1.15% expense ratio, which is higher than ONEQ's 0.21% expense ratio.
Dividends
PMBMX vs. ONEQ - Dividend Comparison
PMBMX's dividend yield for the trailing twelve months is around 6.61%, more than ONEQ's 0.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ONEQ Fidelity Nasdaq Composite Index ETF | 0.84% | 0.54% | 0.65% | 0.71% | 0.97% | 0.54% | 0.71% | 2.51% | 1.08% | 0.84% | 1.12% | 1.04% |
PMBMX Principal MidCap Fund | 6.61% | 6.41% | 6.86% | 2.68% | 3.43% | 8.51% | 1.15% | 9.00% | 12.79% | 3.39% | 2.16% | 6.38% |
Frequently Asked Questions
PMBMX and ONEQ have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ONEQ has higher volatility (6.49%) compared to PMBMX (5.29%). In terms of maximum drawdown, PMBMX dropped -50.69% vs ONEQ's -55.09%.
ONEQ currently has the higher Sharpe Ratio (1.53 vs -0.45), 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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