PNIIX vs. PMAQX
PNIIX (Principal Bond Market Index Fund) and PMAQX (Principal MidCap R6) are both mutual funds - PNIIX is a Intermediate Core Bond fund managed by Principal, while PMAQX is a Mid Cap Growth Equities fund managed by Principal. Over the past 5 years, PNIIX returned -0.49%/yr vs 4.56%/yr for PMAQX. Their 0.08 correlation means their historical movements had little consistent relationship. PNIIX charges 0.15%/yr vs 0.60%/yr for PMAQX.
Performance
PNIIX vs. PMAQX - Performance Comparison
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Returns By Period
In the year-to-date period, PNIIX achieves a -0.35% return, which is significantly higher than PMAQX's -3.68% return.
PNIIX
- 1D
- 0.00%
- 1M
- -0.93%
- 6M
- -0.58%
- YTD
- -0.35%
- 1Y
- 1.96%
- 3Y*
- 3.65%
- 5Y*
- -0.49%
- 10Y*
- 1.21%
- ALL TIME*
- 2.34%
PMAQX
- 1D
- -1.38%
- 1M
- -0.58%
- 6M
- -3.05%
- YTD
- -3.68%
- 1Y
- -7.25%
- 3Y*
- 9.39%
- 5Y*
- 4.56%
- 10Y*
- —
- ALL TIME*
- 12.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PMAQX Principal MidCap R6 | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
PNIIX vs. PMAQX - 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% |
PMAQX Principal MidCap R6 | -3.68% | 1.71% | 23.74% | 26.02% | -23.09% | 25.29% | 18.38% | 49.59% | -6.79% | 24.68% |
Correlation
The correlation between PNIIX and PMAQX is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.08 |
Over the past year, PNIIX and PMAQX have become more correlated (0.43) than their long-term average of 0.08, meaning their price movements have been converging.
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Return for Risk
PNIIX vs. PMAQX — Risk / Return Rank
PNIIX
PMAQX
PNIIX vs. PMAQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Bond Market Index Fund (PNIIX) and Principal MidCap R6 (PMAQX). 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 | PMAQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +1.92 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.91 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.06 | -0.48 | +1.54 |
| Martin ratioReturn relative to average drawdown | 2.67 | -0.94 | +3.60 |
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Drawdowns
PNIIX vs. PMAQX - Drawdown Comparison
The maximum PNIIX drawdown since its inception was -18.76%, smaller than the maximum PMAQX drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for PNIIX and PMAQX.
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Drawdown Indicators
| PNIIX | PMAQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.76% | -40.56% | +21.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -19.25% | +16.49% |
Max Drawdown (3Y)Largest decline over 3 years | -5.04% | -19.25% | +14.21% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -31.10% | +12.96% |
Max Drawdown (10Y)Largest decline over 10 years | -18.76% | — | — |
Current DrawdownCurrent decline from peak | -3.44% | -9.95% | +6.51% |
Average DrawdownAverage peak-to-trough decline | -3.44% | -6.89% | +3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 9.79% | -8.69% |
Volatility
PNIIX vs. PMAQX - Volatility Comparison
The current volatility for Principal Bond Market Index Fund (PNIIX) is 1.00%, while Principal MidCap R6 (PMAQX) has a volatility of 5.19%. This indicates that PNIIX experiences smaller price fluctuations and is considered to be less risky than PMAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNIIX | PMAQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 5.19% | -4.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.95% | 12.03% | -9.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 15.17% | -11.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.32% | 18.75% | -12.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.09% | 19.43% | -14.34% |
PNIIX vs. PMAQX - Expense Ratio Comparison
PNIIX has a 0.15% expense ratio, which is lower than PMAQX's 0.60% expense ratio.
Dividends
PNIIX vs. PMAQX - Dividend Comparison
PNIIX's dividend yield for the trailing twelve months is around 4.03%, less than PMAQX's 6.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMAQX Principal MidCap R6 | 6.02% | 5.80% | 6.46% | 2.58% | 3.18% | 7.96% | 1.08% | 9.14% | 12.39% | 3.39% | 0.00% | 0.00% |
PNIIX Principal Bond Market Index Fund | 4.03% | 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
PNIIX and PMAQX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMAQX has higher volatility (5.19%) compared to PNIIX (1.00%). In terms of maximum drawdown, PNIIX dropped -18.76% vs PMAQX's -40.56%.
PNIIX currently has the higher Sharpe Ratio (0.77 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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