PMOAX vs. CMNWX
PMOAX (Principal Opportunistic Municipal Fund) and CMNWX (Principal Capital Appreciation Fund) are both mutual funds - PMOAX is a High Yield Muni fund managed by Principal, while CMNWX is a Large Cap Blend Equities fund managed by Principal. Over the past 10 years, PMOAX returned 2.19%/yr vs 14.88%/yr for CMNWX. Their -0.05 correlation means they have often moved in opposite directions in the past. PMOAX charges 0.84%/yr vs 0.80%/yr for CMNWX.
Performance
PMOAX vs. CMNWX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PMOAX achieves a 1.49% return, which is significantly lower than CMNWX's 8.06% return. Over the past 10 years, PMOAX has underperformed CMNWX with an annualized return of 2.19%, while CMNWX has yielded a comparatively higher 14.88% annualized return.
PMOAX
- 1D
- -0.32%
- 1M
- -1.87%
- 6M
- 0.68%
- YTD
- 1.49%
- 1Y
- 7.05%
- 3Y*
- 3.88%
- 5Y*
- -0.63%
- 10Y*
- 2.19%
- ALL TIME*
- 3.42%
CMNWX
- 1D
- 1.67%
- 1M
- -1.13%
- 6M
- 6.58%
- YTD
- 8.06%
- 1Y
- 17.20%
- 3Y*
- 19.55%
- 5Y*
- 12.95%
- 10Y*
- 14.88%
- ALL TIME*
- 14.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PMOAX vs. CMNWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMOAX Principal Opportunistic Municipal Fund | 1.49% | 2.91% | 4.40% | 6.76% | -16.56% | 6.38% | 4.40% | 10.55% | 1.34% | 10.14% |
CMNWX Principal Capital Appreciation Fund | 8.06% | 13.27% | 32.14% | 25.01% | -16.37% | 27.45% | 18.36% | 32.21% | -4.12% | 20.64% |
Correlation
The correlation between PMOAX and CMNWX is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2012 | -0.05 |
The correlation between PMOAX and CMNWX shifts across timeframes, from -0.05 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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
PMOAX vs. CMNWX — Risk / Return Rank
PMOAX
CMNWX
PMOAX vs. CMNWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Opportunistic Municipal Fund (PMOAX) and Principal Capital Appreciation Fund (CMNWX). 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.
| PMOAX | CMNWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +2.66 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.20 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 1.71 | +1.17 |
| Martin ratioReturn relative to average drawdown | 10.60 | 7.29 | +3.31 |
Loading charts...
Drawdowns
PMOAX vs. CMNWX - Drawdown Comparison
The maximum PMOAX drawdown since its inception was -21.33%, smaller than the maximum CMNWX drawdown of -50.43%. Use the drawdown chart below to compare losses from any high point for PMOAX and CMNWX.
Loading charts...
Drawdown Indicators
| PMOAX | CMNWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.33% | -50.43% | +29.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -8.91% | +6.00% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -19.54% | +13.13% |
Max Drawdown (5Y)Largest decline over 5 years | -21.33% | -23.35% | +2.02% |
Max Drawdown (10Y)Largest decline over 10 years | -21.33% | -33.26% | +11.93% |
Current DrawdownCurrent decline from peak | -3.09% | -2.47% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -6.92% | +2.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 2.08% | -1.29% |
Volatility
PMOAX vs. CMNWX - Volatility Comparison
The current volatility for Principal Opportunistic Municipal Fund (PMOAX) is 0.89%, while Principal Capital Appreciation Fund (CMNWX) has a volatility of 3.39%. This indicates that PMOAX experiences smaller price fluctuations and is considered to be less risky than CMNWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PMOAX | CMNWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 3.39% | -2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 10.45% | -8.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.24% | 13.39% | -10.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 16.94% | -12.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.05% | 17.20% | -12.15% |
PMOAX vs. CMNWX - Expense Ratio Comparison
PMOAX has a 0.84% expense ratio, which is higher than CMNWX's 0.80% expense ratio.
Dividends
PMOAX vs. CMNWX - Dividend Comparison
PMOAX's dividend yield for the trailing twelve months is around 4.14%, less than CMNWX's 8.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMNWX Principal Capital Appreciation Fund | 8.10% | 8.75% | 10.03% | 0.71% | 0.69% | 9.52% | 5.33% | 8.37% | 46.60% | 7.72% | 10.32% | 5.42% |
PMOAX Principal Opportunistic Municipal Fund | 4.14% | 4.59% | 4.32% | 3.42% | 3.36% | 3.09% | 3.28% | 3.48% | 3.89% | 3.62% | 3.57% | 3.73% |
Frequently Asked Questions
PMOAX and CMNWX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CMNWX has higher volatility (3.39%) compared to PMOAX (0.89%). In terms of maximum drawdown, PMOAX dropped -21.33% vs CMNWX's -50.43%.
PMOAX currently has the higher Sharpe Ratio (2.58 vs 1.14), 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 PMOAX and CMNWX
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