PNIIX vs. KCCIX
PNIIX (Principal Bond Market Index Fund) and KCCIX (Knights of Columbus Core Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, PNIIX returned 1.38%/yr vs 1.65%/yr for KCCIX. Their correlation of 0.95 suggests significant overlap in exposure. PNIIX charges 0.15%/yr vs 0.71%/yr for KCCIX.
Performance
PNIIX vs. KCCIX - Performance Comparison
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Returns By Period
In the year-to-date period, PNIIX achieves a 0.35% return, which is significantly lower than KCCIX's 0.55% return. Over the past 10 years, PNIIX has underperformed KCCIX with an annualized return of 1.38%, while KCCIX has yielded a comparatively higher 1.65% annualized return.
PNIIX
- 1D
- -0.23%
- 1M
- 0.59%
- YTD
- 0.35%
- 6M
- 0.35%
- 1Y
- 4.13%
- 3Y*
- 3.77%
- 5Y*
- -0.07%
- 10Y*
- 1.38%
KCCIX
- 1D
- -0.23%
- 1M
- 0.69%
- YTD
- 0.55%
- 6M
- 0.65%
- 1Y
- 4.33%
- 3Y*
- 3.90%
- 5Y*
- -0.29%
- 10Y*
- 1.65%
PNIIX vs. KCCIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNIIX Principal Bond Market Index Fund | 0.35% | 7.01% | 1.17% | 5.55% | -13.26% | -1.68% | 7.28% | 8.47% | -0.20% | 3.31% |
KCCIX Knights of Columbus Core Bond Fund | 0.55% | 6.94% | 1.50% | 4.99% | -14.30% | -0.58% | 7.21% | 9.78% | -0.72% | 4.55% |
Correlation
The correlation between PNIIX and KCCIX is 0.93, 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 | 0.93 |
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 | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.95 |
The correlation between PNIIX and KCCIX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
PNIIX vs. KCCIX — Risk / Return Rank
PNIIX
KCCIX
PNIIX vs. KCCIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Bond Market Index Fund (PNIIX) and Knights of Columbus Core Bond Fund (KCCIX). 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.
| PNIIX | KCCIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.23 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 1.77 | -0.19 |
| Martin ratioReturn relative to average drawdown | 4.56 | 5.04 | -0.48 |
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Drawdowns
PNIIX vs. KCCIX - Drawdown Comparison
The maximum PNIIX drawdown since its inception was -18.76%, roughly equal to the maximum KCCIX drawdown of -18.52%. Use the drawdown chart below to compare losses from any high point for PNIIX and KCCIX.
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Drawdown Indicators
| PNIIX | KCCIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.76% | -18.52% | -0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -2.59% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -6.25% | -5.84% | -0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -18.52% | +0.38% |
Max Drawdown (10Y)Largest decline over 10 years | -18.76% | -18.52% | -0.24% |
Current DrawdownCurrent decline from peak | -2.76% | -3.01% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -4.79% | +1.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 0.91% | +0.05% |
Volatility
PNIIX vs. KCCIX - Volatility Comparison
Principal Bond Market Index Fund (PNIIX) has a higher volatility of 1.15% compared to Knights of Columbus Core Bond Fund (KCCIX) at 1.02%. This indicates that PNIIX's price experiences larger fluctuations and is considered to be riskier than KCCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNIIX | KCCIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 1.02% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 2.76% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.63% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 5.56% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 4.70% | +0.39% |
PNIIX vs. KCCIX - Expense Ratio Comparison
PNIIX has a 0.15% expense ratio, which is lower than KCCIX's 0.71% expense ratio.
Dividends
PNIIX vs. KCCIX - Dividend Comparison
PNIIX's dividend yield for the trailing twelve months is around 4.00%, which matches KCCIX's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KCCIX Knights of Columbus Core Bond Fund | 4.03% | 3.95% | 3.73% | 3.23% | 2.80% | 2.19% | 3.19% | 2.97% | 2.96% | 2.63% | 2.41% | 0.00% |
PNIIX Principal Bond Market Index Fund | 4.00% | 4.01% | 3.60% | 4.18% | 1.66% | 2.03% | 18.60% | 2.40% | 2.51% | 2.35% | 1.78% | 2.10% |
Frequently Asked Questions
With a correlation of 0.93, PNIIX and KCCIX 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.
PNIIX has higher volatility (1.15%) compared to KCCIX (1.02%). In terms of maximum drawdown, PNIIX dropped -18.76% vs KCCIX's -18.52%.
KCCIX currently has the higher Sharpe Ratio (1.27 vs 1.15), 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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