PMOAX vs. PCBIX
PMOAX (Principal Opportunistic Municipal Fund) and PCBIX (Principal MidCap Fund Institutional Class) are both mutual funds - PMOAX is a High Yield Muni fund managed by Principal, while PCBIX is a Mid Cap Growth Equities fund managed by Principal. Over the past 10 years, PMOAX returned 2.21%/yr vs 11.86%/yr for PCBIX. Their -0.01 correlation means they have often moved in opposite directions in the past. PMOAX charges 0.84%/yr vs 0.67%/yr for PCBIX.
Performance
PMOAX vs. PCBIX - Performance Comparison
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Returns By Period
In the year-to-date period, PMOAX achieves a 1.39% return, which is significantly higher than PCBIX's -4.46% return. Over the past 10 years, PMOAX has underperformed PCBIX with an annualized return of 2.21%, while PCBIX has yielded a comparatively higher 11.86% annualized return.
PMOAX
- 1D
- -0.11%
- 1M
- -1.98%
- 6M
- 0.58%
- YTD
- 1.39%
- 1Y
- 6.93%
- 3Y*
- 3.92%
- 5Y*
- -0.65%
- 10Y*
- 2.21%
- ALL TIME*
- 3.42%
PCBIX
- 1D
- -0.75%
- 1M
- -1.35%
- 6M
- -4.10%
- YTD
- -4.46%
- 1Y
- -8.05%
- 3Y*
- 9.05%
- 5Y*
- 4.31%
- 10Y*
- 11.86%
- ALL TIME*
- 10.89%
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. PCBIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PMOAX Principal Opportunistic Municipal Fund | 1.39% | 2.91% | 4.40% | 6.76% | -16.56% | 6.38% | 4.40% | 10.55% | 1.34% | 10.14% |
PCBIX Principal MidCap Fund Institutional Class | -4.46% | 1.62% | 23.63% | 25.92% | -23.16% | 25.22% | 18.25% | 49.40% | -6.86% | 25.32% |
Correlation
The correlation between PMOAX and PCBIX is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2012 | -0.01 |
The correlation between PMOAX and PCBIX shifts across timeframes, from -0.01 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PMOAX vs. PCBIX — Risk / Return Rank
PMOAX
PCBIX
PMOAX vs. PCBIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Opportunistic Municipal Fund (PMOAX) and Principal MidCap Fund Institutional Class (PCBIX). 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 | PCBIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.95 | ||
| Sortino ratioReturn per unit of downside risk | +4.59 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 0.92 | +0.66 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | -0.47 | +3.03 |
| Martin ratioReturn relative to average drawdown | 9.30 | -0.92 | +10.22 |
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Drawdowns
PMOAX vs. PCBIX - Drawdown Comparison
The maximum PMOAX drawdown since its inception was -21.33%, smaller than the maximum PCBIX drawdown of -50.25%. Use the drawdown chart below to compare losses from any high point for PMOAX and PCBIX.
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Drawdown Indicators
| PMOAX | PCBIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.33% | -50.25% | +28.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -19.29% | +16.38% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -19.29% | +12.88% |
Max Drawdown (5Y)Largest decline over 5 years | -21.33% | -31.17% | +9.84% |
Max Drawdown (10Y)Largest decline over 10 years | -21.33% | -40.56% | +19.23% |
Current DrawdownCurrent decline from peak | -3.19% | -10.71% | +7.52% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -6.58% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 9.84% | -9.04% |
Volatility
PMOAX vs. PCBIX - Volatility Comparison
The current volatility for Principal Opportunistic Municipal Fund (PMOAX) is 0.89%, while Principal MidCap Fund Institutional Class (PCBIX) has a volatility of 5.21%. This indicates that PMOAX experiences smaller price fluctuations and is considered to be less risky than PCBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PMOAX | PCBIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 5.21% | -4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.45% | 12.01% | -9.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.24% | 15.17% | -11.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.78% | 18.74% | -13.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.05% | 19.14% | -14.09% |
PMOAX vs. PCBIX - Expense Ratio Comparison
PMOAX has a 0.84% expense ratio, which is higher than PCBIX's 0.67% expense ratio.
Dividends
PMOAX vs. PCBIX - Dividend Comparison
PMOAX's dividend yield for the trailing twelve months is around 4.14%, less than PCBIX's 6.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCBIX Principal MidCap Fund Institutional Class | 6.09% | 5.81% | 6.40% | 2.51% | 3.18% | 7.96% | 1.08% | 9.02% | 12.24% | 3.31% | 2.49% | 6.30% |
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 PCBIX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PCBIX has higher volatility (5.21%) compared to PMOAX (0.89%). In terms of maximum drawdown, PMOAX dropped -21.33% vs PCBIX's -50.25%.
PMOAX currently has the higher Sharpe Ratio (2.35 vs -0.60), 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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