PPVIX vs. PMJIX

Last updated Jun 3, 2026

PPVIX (Principal SmallCap Value Fund II) and PMJIX (PIMCO RAE US Small Fund) are both Small Cap Value Equities funds. Over the past 10 years, PPVIX returned 10.71%/yr vs 13.67%/yr for PMJIX. Their correlation of 0.94 suggests significant overlap in exposure. PPVIX charges 0.96%/yr vs 0.50%/yr for PMJIX.

Performance

PPVIX vs. PMJIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal SmallCap Value Fund II (PPVIX) and PIMCO RAE US Small Fund (PMJIX). 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 PMJIX's 17.54% return. Over the past 10 years, PPVIX has underperformed PMJIX with an annualized return of 10.71%, while PMJIX has yielded a comparatively higher 13.67% 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%

PMJIX

• 1D: 1.18%
• 1M: 4.75%
• YTD: 17.54%
• 6M: 16.99%
• 1Y: 36.09%
• 3Y*: 21.88%
• 5Y*: 10.63%
• 10Y*: 13.67%

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

PPVIX vs. PMJIX - 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%
PMJIX PIMCO RAE US Small Fund	17.54%	5.11%	22.05%	19.77%	-4.62%	39.15%	6.95%	20.22%	-11.69%	9.22%

Correlation

The correlation between PPVIX and PMJIX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 8, 2015	0.94

The correlation between PPVIX and PMJIX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

PPVIX vs. PMJIX — 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

PMJIX

PMJIX Risk / Return Rank: 60
PMJIX Sharpe Ratio Rank: 50
PMJIX Sortino Ratio Rank: 49
PMJIX Omega Ratio Rank: 43
PMJIX Calmar Ratio Rank: 90
PMJIX Martin Ratio Rank: 70

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. PMJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal SmallCap Value Fund II (PPVIX) and PIMCO RAE US Small Fund (PMJIX). 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	PMJIX	Difference
Sharpe ratio Return per unit of total volatility	1.80	2.08	-0.29
Sortino ratio Return per unit of downside risk	2.66	2.96	-0.30
Omega ratio Gain probability vs. loss probability	1.32	1.35	-0.03
Calmar ratio Return relative to maximum drawdown	3.13	4.53	-1.40
Martin ratio Return relative to average drawdown	10.79	13.48	-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. PMJIX - Sharpe Ratio Comparison

The current PPVIX Sharpe Ratio is 1.80, which is comparable to the PMJIX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of PPVIX and PMJIX, 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	PMJIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	2.08	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.27	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.41	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.37	+0.02

Drawdowns

PPVIX vs. PMJIX - Drawdown Comparison

The maximum PPVIX drawdown since its inception was -64.79%, which is greater than PMJIX's maximum drawdown of -49.75%. Use the drawdown chart below to compare losses from any high point for PPVIX and PMJIX.

Drawdown Indicators

	PPVIX	PMJIX	Difference
Max Drawdown Largest peak-to-trough decline	-64.79%	-49.75%	-15.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-7.62%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-22.89%	-26.04%	+3.15%
Max Drawdown (5Y) Largest decline over 5 years	-22.89%	-49.75%	+26.86%
Max Drawdown (10Y) Largest decline over 10 years	-45.87%	-49.75%	+3.88%
Current Drawdown Current decline from peak	-1.94%	0.00%	-1.94%
Average Drawdown Average peak-to-trough decline	-9.69%	-16.23%	+6.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	2.56%	+0.11%

Volatility

PPVIX vs. PMJIX - Volatility Comparison

The current volatility for Principal SmallCap Value Fund II (PPVIX) is 3.70%, while PIMCO RAE US Small Fund (PMJIX) has a volatility of 4.99%. This indicates that PPVIX experiences smaller price fluctuations and is considered to be less risky than PMJIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPVIX	PMJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.70%	4.99%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	10.79%	11.44%	-0.65%
Volatility (1Y) Calculated over the trailing 1-year period	16.64%	17.14%	-0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.12%	39.48%	-18.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.64%	33.09%	-10.45%

PPVIX vs. PMJIX - Expense Ratio Comparison

PPVIX has a 0.96% expense ratio, which is higher than PMJIX's 0.50% expense ratio.

Dividends

PPVIX vs. PMJIX - Dividend Comparison

PPVIX's dividend yield for the trailing twelve months is around 8.04%, more than PMJIX's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PMJIX PIMCO RAE US Small Fund	2.68%	3.15%	3.26%	1.25%	9.91%	65.79%	9.46%	1.55%	7.65%	4.69%	1.24%	1.67%
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 PMJIX in my portfolio?

PPVIX and PMJIX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPVIX or PMJIX?

PMJIX has higher volatility (4.99%) compared to PPVIX (3.70%). In terms of maximum drawdown, PPVIX dropped -64.79% vs PMJIX's -49.75%.

Which has better risk-adjusted returns?

PMJIX currently has the higher Sharpe Ratio (2.08 vs 1.80), 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.