PMFMX vs. PMDIX

Last updated Jun 5, 2026

PMFMX (Principal MidCap S&P 400 Index Fund) and PMDIX (Principal Small-MidCap Dividend Income Fund) are both mutual funds - PMFMX is a Mid Cap Blend Equities fund managed by Principal, while PMDIX is a Mid Cap Value Equities fund managed by Principal. Over the past 10 years, PMFMX returned 11.92%/yr vs 9.83%/yr for PMDIX. With a 0.96 correlation, they move nearly in lockstep. PMFMX charges 0.73%/yr vs 0.85%/yr for PMDIX.

Performance

PMFMX vs. PMDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal MidCap S&P 400 Index Fund (PMFMX) and Principal Small-MidCap Dividend Income Fund (PMDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMFMX achieves a 13.74% return, which is significantly higher than PMDIX's 12.17% return. Over the past 10 years, PMFMX has outperformed PMDIX with an annualized return of 11.92%, while PMDIX has yielded a comparatively lower 9.83% annualized return.

PMFMX

• 1D: -0.12%
• 1M: 2.42%
• YTD: 13.74%
• 6M: 13.42%
• 1Y: 24.90%
• 3Y*: 20.35%
• 5Y*: 10.23%
• 10Y*: 11.92%

PMDIX

• 1D: -0.14%
• 1M: -0.46%
• YTD: 12.17%
• 6M: 11.68%
• 1Y: 24.42%
• 3Y*: 17.18%
• 5Y*: 9.31%
• 10Y*: 9.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PMFMX vs. PMDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PMFMX Principal MidCap S&P 400 Index Fund	13.74%	6.77%	28.52%	15.61%	-13.60%	23.61%	12.90%	25.34%	-11.89%	15.35%
PMDIX Principal Small-MidCap Dividend Income Fund	12.17%	8.63%	14.56%	18.81%	-11.66%	30.41%	-6.40%	25.38%	-13.80%	13.30%

Correlation

The correlation between PMFMX and PMDIX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 8, 2011	0.96

The correlation between PMFMX and PMDIX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

PMFMX vs. PMDIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PMFMX

PMFMX Risk / Return Rank: 41
PMFMX Sharpe Ratio Rank: 34
PMFMX Sortino Ratio Rank: 35
PMFMX Omega Ratio Rank: 32
PMFMX Calmar Ratio Rank: 55
PMFMX Martin Ratio Rank: 51

PMDIX

PMDIX Risk / Return Rank: 35
PMDIX Sharpe Ratio Rank: 33
PMDIX Sortino Ratio Rank: 36
PMDIX Omega Ratio Rank: 31
PMDIX Calmar Ratio Rank: 38
PMDIX Martin Ratio Rank: 39

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.

PMFMX vs. PMDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal MidCap S&P 400 Index Fund (PMFMX) and Principal Small-MidCap Dividend Income Fund (PMDIX). 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.

	PMFMX	PMDIX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.63	-0.02
Sortino ratio: Return per unit of downside risk	2.37	2.47	-0.10
Omega ratio: Gain probability vs. loss probability	1.29	1.29	0.00
Calmar ratio: Return relative to maximum drawdown	2.78	2.28	+0.50
Martin ratio: Return relative to average drawdown	10.13	8.35	+1.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PMFMX vs. PMDIX - Sharpe Ratio Comparison

The current PMFMX Sharpe Ratio is 1.61, which is comparable to the PMDIX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of PMFMX and PMDIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PMFMX	PMDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	1.63	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.50	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.49	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.56	-0.11

Drawdowns

PMFMX vs. PMDIX - Drawdown Comparison

The maximum PMFMX drawdown since its inception was -55.43%, which is greater than PMDIX's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for PMFMX and PMDIX.

Drawdown Indicators

	PMFMX	PMDIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.43%	-46.47%	-8.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-10.55%	+1.66%
Max Drawdown (3Y) Largest decline over 3 years	-22.09%	-21.36%	-0.73%
Max Drawdown (5Y) Largest decline over 5 years	-24.08%	-21.36%	-2.72%
Max Drawdown (10Y) Largest decline over 10 years	-42.02%	-46.47%	+4.45%
Current Drawdown Current decline from peak	-0.12%	-1.08%	+0.96%
Average Drawdown Average peak-to-trough decline	-7.81%	-5.30%	-2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	2.87%	-0.43%

Volatility

PMFMX vs. PMDIX - Volatility Comparison

Principal MidCap S&P 400 Index Fund (PMFMX) has a higher volatility of 4.38% compared to Principal Small-MidCap Dividend Income Fund (PMDIX) at 3.81%. This indicates that PMFMX's price experiences larger fluctuations and is considered to be riskier than PMDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PMFMX	PMDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	3.81%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	11.29%	10.89%	+0.40%
Volatility (1Y) Calculated over the trailing 1-year period	15.37%	14.83%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.57%	18.78%	+1.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.00%	20.26%	+0.74%

PMFMX vs. PMDIX - Expense Ratio Comparison

PMFMX has a 0.73% expense ratio, which is lower than PMDIX's 0.85% expense ratio.

Dividends

PMFMX vs. PMDIX - Dividend Comparison

PMFMX's dividend yield for the trailing twelve months is around 7.21%, more than PMDIX's 2.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMDIX Principal Small-MidCap Dividend Income Fund	2.85%	3.14%	7.99%	2.37%	6.95%	0.98%	1.37%	2.82%	17.83%	5.77%	2.84%	4.78%
PMFMX Principal MidCap S&P 400 Index Fund	7.21%	8.20%	25.27%	3.11%	6.69%	7.76%	6.63%	5.52%	10.65%	6.61%	5.85%	7.40%

Frequently Asked Questions

Can I hold both PMFMX and PMDIX in my portfolio?

With a correlation of 0.94, PMFMX and PMDIX 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.

Which is riskier, PMFMX or PMDIX?

PMFMX has higher volatility (4.38%) compared to PMDIX (3.81%). In terms of maximum drawdown, PMFMX dropped -55.43% vs PMDIX's -46.47%.

Which has better risk-adjusted returns?

PMDIX currently has the higher Sharpe Ratio (1.63 vs 1.61), 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.