PPVIX vs. USBNX

Last updated Aug 1, 2026

PPVIX (Principal SmallCap Value Fund II) and USBNX (Pear Tree Polaris Small Cap Fund) are both Small Cap Value Equities funds. Over the past 10 years, PPVIX returned 11.05%/yr vs 8.01%/yr for USBNX. Their correlation of 0.94 means they have usually moved in the same direction. PPVIX charges 0.96%/yr vs 1.50%/yr for USBNX.

Performance

PPVIX vs. USBNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal SmallCap Value Fund II (PPVIX) and Pear Tree Polaris Small Cap Fund (USBNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPVIX achieves a 17.24% return, which is significantly lower than USBNX's 19.45% return. Over the past 10 years, PPVIX has outperformed USBNX with an annualized return of 11.05%, while USBNX has yielded a comparatively lower 8.01% annualized return.

PPVIX

• 1D: 0.07%
• 1M: 1.28%
• 6M: 10.38%
• YTD: 17.24%
• 1Y: 31.52%
• 3Y*: 15.45%
• 5Y*: 11.62%
• 10Y*: 11.05%
• ALL TIME*: 9.32%

USBNX

• 1D: -0.07%
• 1M: 2.06%
• 6M: 12.82%
• YTD: 19.45%
• 1Y: 30.67%
• 3Y*: 13.52%
• 5Y*: 8.19%
• 10Y*: 8.01%
• ALL TIME*: 8.67%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PPVIX Principal SmallCap Value Fund II	$0.00	$0.00	$0.00
USBNX Pear Tree Polaris Small Cap Fund	$0.00	$0.00	$0.00

PPVIX vs. USBNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPVIX Principal SmallCap Value Fund II	17.24%	8.18%	16.09%	20.00%	-9.20%	32.00%	3.61%	23.19%	-14.74%	6.94%
USBNX Pear Tree Polaris Small Cap Fund	19.45%	8.02%	8.64%	12.83%	-5.09%	15.35%	-4.77%	23.53%	-11.05%	6.42%

Correlation

The correlation between PPVIX and USBNX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Jun 2, 2004	0.94

The correlation between PPVIX and USBNX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

PPVIX vs. USBNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PPVIX

PPVIX Risk / Return Rank: 78
PPVIX Sharpe Ratio Rank: 74
PPVIX Sortino Ratio Rank: 76
PPVIX Omega Ratio Rank: 70
PPVIX Calmar Ratio Rank: 86
PPVIX Martin Ratio Rank: 85

USBNX

USBNX Risk / Return Rank: 81
USBNX Sharpe Ratio Rank: 80
USBNX Sortino Ratio Rank: 82
USBNX Omega Ratio Rank: 77
USBNX Calmar Ratio Rank: 85
USBNX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PPVIX vs. USBNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal SmallCap Value Fund II (PPVIX) and Pear Tree Polaris Small Cap Fund (USBNX). 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.

	PPVIX	USBNX	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.89	-0.15
Sortino ratio: Return per unit of downside risk	2.60	2.89	-0.29
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	3.03	2.96	+0.08
Martin ratio: Return relative to average drawdown	10.82	9.41	+1.41

PPVIX vs. USBNX - Sharpe Ratio Comparison

The current PPVIX Sharpe Ratio is 1.74, which is comparable to the USBNX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of PPVIX and USBNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PPVIX vs. USBNX - Drawdown Comparison

The maximum PPVIX drawdown since its inception was -64.79%, roughly equal to the maximum USBNX drawdown of -64.40%. Use the drawdown chart below to compare losses from any high point for PPVIX and USBNX.

Drawdown Indicators

	PPVIX	USBNX	Difference
Max Drawdown Largest peak-to-trough decline	-64.79%	-64.40%	-0.39%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-9.19%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-22.89%	-21.56%	-1.33%
Max Drawdown (5Y) Largest decline over 5 years	-22.89%	-26.01%	+3.12%
Max Drawdown (10Y) Largest decline over 10 years	-45.87%	-46.96%	+1.09%
Current Drawdown Current decline from peak	-0.59%	-1.10%	+0.51%
Average Drawdown Average peak-to-trough decline	-9.62%	-13.57%	+3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.91%	-0.32%

Volatility

PPVIX vs. USBNX - Volatility Comparison

Principal SmallCap Value Fund II (PPVIX) and Pear Tree Polaris Small Cap Fund (USBNX) have volatilities of 3.40% and 3.34%, 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	USBNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	3.34%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	8.96%	+1.32%
Volatility (1Y) Calculated over the trailing 1-year period	16.12%	14.43%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.92%	18.60%	+2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.56%	21.58%	+0.98%

PPVIX vs. USBNX - Expense Ratio Comparison

PPVIX has a 0.96% expense ratio, which is lower than USBNX's 1.50% expense ratio.

Dividends

PPVIX vs. USBNX - Dividend Comparison

PPVIX's dividend yield for the trailing twelve months is around 7.58%, less than USBNX's 11.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PPVIX Principal SmallCap Value Fund II	7.58%	8.88%	20.81%	3.11%	11.81%	15.05%	0.76%	0.88%	26.50%	6.37%	5.98%	11.97%
USBNX Pear Tree Polaris Small Cap Fund	11.56%	13.81%	3.27%	0.86%	10.05%	0.75%	0.68%	7.91%	8.39%	6.21%	1.17%	7.39%

Frequently Asked Questions

Can I hold both PPVIX and USBNX in my portfolio?

With a correlation of 0.92, PPVIX and USBNX 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 USBNX?

PPVIX has higher volatility (3.40%) compared to USBNX (3.34%). In terms of maximum drawdown, PPVIX dropped -64.79% vs USBNX's -64.40%.

Which has better risk-adjusted returns?

USBNX currently has the higher Sharpe Ratio (1.89 vs 1.74), 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.