PMFMX vs. ^SP400
PMFMX (Principal MidCap S&P 400 Index Fund) is Mid Cap Blend Equities fund managed by Principal, while ^SP400 (S&P 400 Index) is an index. Over the past 10 years, PMFMX returned 12.36%/yr vs 10.43%/yr for ^SP400. With a 0.99 correlation, they move nearly in lockstep.
Performance
PMFMX vs. ^SP400 - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with PMFMX having a 14.94% return and ^SP400 slightly higher at 15.65%. Over the past 10 years, PMFMX has outperformed ^SP400 with an annualized return of 12.36%, while ^SP400 has yielded a comparatively lower 10.43% annualized return.
PMFMX
- 1D
- 0.59%
- 1M
- 1.70%
- YTD
- 14.94%
- 6M
- 12.68%
- 1Y
- 24.93%
- 3Y*
- 20.58%
- 5Y*
- 10.47%
- 10Y*
- 12.36%
^SP400
- 1D
- 0.89%
- 1M
- 2.55%
- YTD
- 15.65%
- 6M
- 13.31%
- 1Y
- 25.15%
- 3Y*
- 14.68%
- 5Y*
- 6.99%
- 10Y*
- 10.43%
PMFMX vs. ^SP400 - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMFMX Principal MidCap S&P 400 Index Fund | 14.94% | 6.77% | 28.52% | 15.61% | -13.60% | 23.61% | 12.90% | 25.34% | -11.89% | 15.35% |
^SP400 S&P 400 Index | 15.65% | 5.90% | 12.20% | 14.45% | -14.48% | 23.21% | 11.81% | 24.05% | -12.50% | 14.45% |
Correlation
The correlation between PMFMX and ^SP400 is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2000 | 0.99 |
The correlation between PMFMX and ^SP400 has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PMFMX vs. ^SP400 — Risk / Return Rank
PMFMX
^SP400
PMFMX vs. ^SP400 - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal MidCap S&P 400 Index Fund (PMFMX) and S&P 400 Index (^SP400). 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.
| PMFMX | ^SP400 | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.28 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 2.82 | -0.12 |
| Martin ratioReturn relative to average drawdown | 9.83 | 10.13 | -0.30 |
Loading charts...
Drawdowns
PMFMX vs. ^SP400 - Drawdown Comparison
The maximum PMFMX drawdown since its inception was -55.43%, roughly equal to the maximum ^SP400 drawdown of -56.32%. Use the drawdown chart below to compare losses from any high point for PMFMX and ^SP400.
Loading charts...
Drawdown Indicators
| PMFMX | ^SP400 | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.43% | -56.32% | +0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -8.96% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -22.09% | -24.46% | +2.37% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -24.46% | +0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -42.02% | -42.14% | +0.12% |
Current DrawdownCurrent decline from peak | -0.50% | 0.00% | -0.50% |
Average DrawdownAverage peak-to-trough decline | -7.80% | -7.12% | -0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.44% | 2.49% | -0.05% |
Volatility
PMFMX vs. ^SP400 - Volatility Comparison
Principal MidCap S&P 400 Index Fund (PMFMX) and S&P 400 Index (^SP400) have volatilities of 4.70% and 4.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PMFMX | ^SP400 | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 4.56% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.71% | 11.70% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.71% | 15.77% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.59% | 19.66% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.98% | 20.99% | -0.01% |
Frequently Asked Questions
With a correlation of 0.98, PMFMX and ^SP400 move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PMFMX has higher volatility (4.70%) compared to ^SP400 (4.56%). In terms of maximum drawdown, PMFMX dropped -55.43% vs ^SP400's -56.32%.
^SP400 currently has the higher Sharpe Ratio (1.60 vs 1.53), 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.
Find the right allocation for PMFMX and ^SP400
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer