PPVIX vs. PMDIX

Last updated Jun 3, 2026

PPVIX (Principal SmallCap Value Fund II) and PMDIX (Principal Small-MidCap Dividend Income Fund) are both mutual funds - PPVIX is a Small Cap Value Equities fund managed by Principal, while PMDIX is a Mid Cap Value Equities fund managed by Principal. Over the past 10 years, PPVIX returned 10.71%/yr vs 9.73%/yr for PMDIX. Their correlation of 0.94 suggests significant overlap in exposure. PPVIX charges 0.96%/yr vs 0.85%/yr for PMDIX.

Performance

PPVIX vs. PMDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal SmallCap Value Fund II (PPVIX) 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, PPVIX achieves a 10.50% return, which is significantly lower than PMDIX's 11.09% return. Over the past 10 years, PPVIX has outperformed PMDIX with an annualized return of 10.71%, while PMDIX has yielded a comparatively lower 9.73% annualized return.

PPVIX

• 1D: -0.39%
• 1M: -1.56%
• YTD: 10.50%
• 6M: 11.48%
• 1Y: 30.31%
• 3Y*: 17.13%
• 5Y*: 9.09%
• 10Y*: 10.71%

PMDIX

• 1D: -0.60%
• 1M: -0.96%
• YTD: 11.09%
• 6M: 12.12%
• 1Y: 24.53%
• 3Y*: 16.80%
• 5Y*: 9.19%
• 10Y*: 9.73%

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

PPVIX vs. PMDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPVIX Principal SmallCap Value Fund II	10.50%	8.18%	16.09%	20.00%	-9.20%	32.00%	3.61%	23.19%	-14.74%	6.94%
PMDIX Principal Small-MidCap Dividend Income Fund	11.09%	8.63%	14.56%	18.81%	-11.66%	30.41%	-6.40%	25.38%	-13.80%	13.30%

Correlation

The correlation between PPVIX 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	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 8, 2011	0.94

The correlation between PPVIX and PMDIX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

PPVIX vs. PMDIX — Risk / Return Rank

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

PPVIX

PPVIX Risk / Return Rank: 46
PPVIX Sharpe Ratio Rank: 38
PPVIX Sortino Ratio Rank: 40
PPVIX Omega Ratio Rank: 36
PPVIX Calmar Ratio Rank: 66
PPVIX Martin Ratio Rank: 53

PMDIX

PMDIX Risk / Return Rank: 33
PMDIX Sharpe Ratio Rank: 31
PMDIX Sortino Ratio Rank: 35
PMDIX Omega Ratio Rank: 30
PMDIX Calmar Ratio Rank: 33
PMDIX Martin Ratio Rank: 36

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.

PPVIX vs. PMDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal SmallCap Value Fund II (PPVIX) 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.

	PPVIX	PMDIX	Difference
Sharpe ratio Return per unit of total volatility	1.80	1.63	+0.17
Sortino ratio Return per unit of downside risk	2.66	2.48	+0.18
Omega ratio Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio Return relative to maximum drawdown	3.13	2.20	+0.93
Martin ratio Return relative to average drawdown	10.79	8.09	+2.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPVIX vs. PMDIX - Sharpe Ratio Comparison

The current PPVIX Sharpe Ratio is 1.80, which is comparable to the PMDIX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of PPVIX 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

	PPVIX	PMDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	1.63	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.49	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.48	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.55	-0.17

Drawdowns

PPVIX vs. PMDIX - Drawdown Comparison

The maximum PPVIX drawdown since its inception was -64.79%, which is greater than PMDIX's maximum drawdown of -46.47%. Use the drawdown chart below to compare losses from any high point for PPVIX and PMDIX.

Drawdown Indicators

	PPVIX	PMDIX	Difference
Max Drawdown Largest peak-to-trough decline	-64.79%	-46.47%	-18.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-10.55%	+1.34%
Max Drawdown (3Y) Largest decline over 3 years	-22.89%	-21.36%	-1.53%
Max Drawdown (5Y) Largest decline over 5 years	-22.89%	-21.36%	-1.53%
Max Drawdown (10Y) Largest decline over 10 years	-45.87%	-46.47%	+0.60%
Current Drawdown Current decline from peak	-1.94%	-2.04%	+0.10%
Average Drawdown Average peak-to-trough decline	-9.69%	-5.30%	-4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	2.87%	-0.20%

Volatility

PPVIX vs. PMDIX - Volatility Comparison

Principal SmallCap Value Fund II (PPVIX) and Principal Small-MidCap Dividend Income Fund (PMDIX) have volatilities of 3.70% and 3.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPVIX	PMDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	3.70%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	10.79%	10.85%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	16.64%	14.83%	+1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.12%	18.78%	+2.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.64%	20.26%	+2.38%

PPVIX vs. PMDIX - Expense Ratio Comparison

PPVIX has a 0.96% expense ratio, which is higher than PMDIX's 0.85% expense ratio.

Dividends

PPVIX vs. PMDIX - Dividend Comparison

PPVIX's dividend yield for the trailing twelve months is around 8.04%, more than PMDIX's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMDIX Principal Small-MidCap Dividend Income Fund	2.88%	3.14%	7.99%	2.37%	6.95%	0.98%	1.37%	2.82%	17.83%	5.77%	2.84%	4.78%
PPVIX Principal SmallCap Value Fund II	8.04%	8.88%	20.81%	3.11%	11.81%	15.05%	0.76%	0.88%	26.50%	6.37%	5.98%	11.97%

Frequently Asked Questions

Can I hold both PPVIX and PMDIX in my portfolio?

With a correlation of 0.94, PPVIX 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, PPVIX or PMDIX?

PMDIX has higher volatility (3.70%) compared to PPVIX (3.70%). In terms of maximum drawdown, PPVIX dropped -64.79% vs PMDIX's -46.47%.

Which has better risk-adjusted returns?

PPVIX currently has the higher Sharpe Ratio (1.80 vs 1.63), 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.