PQDI vs. PY

Last updated Jun 3, 2026

PQDI (Principal Spectrum Preferred and Income ETF) and PY (Principal Value ETF) are both exchange-traded funds - PQDI is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA 7% Constrained DRD Eligible Preferred Securities Index, while PY is a Large Cap Value Equities fund actively managed by Principal. PQDI is passively managed, while PY is actively managed. Over the past 5 years, PQDI returned 3.30%/yr vs 7.48%/yr for PY. At a 0.43 correlation, their price movements are largely independent. PQDI charges 0.60%/yr vs 0.15%/yr for PY.

Performance

PQDI vs. PY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Spectrum Preferred and Income ETF (PQDI) and Principal Value ETF (PY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQDI achieves a 1.32% return, which is significantly lower than PY's 4.65% return.

PQDI

• 1D: -0.18%
• 1M: 0.02%
• YTD: 1.32%
• 6M: 1.97%
• 1Y: 7.46%
• 3Y*: 9.11%
• 5Y*: 3.30%
• 10Y*: —

PY

• 1D: -0.26%
• 1M: 1.39%
• YTD: 4.65%
• 6M: 5.77%
• 1Y: 15.84%
• 3Y*: 13.41%
• 5Y*: 7.48%
• 10Y*: 10.78%

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

PQDI vs. PY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PQDI Principal Spectrum Preferred and Income ETF	1.32%	8.46%	9.99%	6.24%	-9.61%	3.10%	9.81%
PY Principal Value ETF	4.65%	7.74%	16.79%	9.11%	-5.10%	34.83%	23.01%

Correlation

The correlation between PQDI and PY is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020	0.43

The correlation between PQDI and PY shifts across timeframes, from 0.43 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.

PQDI vs. PY - Sectors Allocation Comparison

Sectors	PQDI	PY
Financial Services	10.5%	16.5%
Communication Services	0.7%	5.1%
Basic Materials	-	1.2%
Consumer Cyclical	-	11.0%
Consumer Defensive	-	11.5%
Energy	-	5.6%
Healthcare	-	12.0%
Industrials	-	9.3%
Real Estate	-	1.1%
Technology	-	25.0%
Utilities	-	1.7%

Return for Risk

PQDI vs. PY — Risk / Return Rank

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

PQDI

PQDI Risk / Return Rank: 65
PQDI Sharpe Ratio Rank: 70
PQDI Sortino Ratio Rank: 74
PQDI Omega Ratio Rank: 83
PQDI Calmar Ratio Rank: 44
PQDI Martin Ratio Rank: 56

PY

PY Risk / Return Rank: 45
PY Sharpe Ratio Rank: 42
PY Sortino Ratio Rank: 43
PY Omega Ratio Rank: 41
PY Calmar Ratio Rank: 50
PY Martin Ratio Rank: 50

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.

PQDI vs. PY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Spectrum Preferred and Income ETF (PQDI) and Principal Value ETF (PY). 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.

	PQDI	PY	Difference
Sharpe ratio Return per unit of total volatility	2.33	1.51	+0.82
Sortino ratio Return per unit of downside risk	3.40	2.20	+1.20
Omega ratio Gain probability vs. loss probability	1.51	1.27	+0.24
Calmar ratio Return relative to maximum drawdown	2.23	2.54	-0.30
Martin ratio Return relative to average drawdown	10.03	8.52	+1.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQDI vs. PY - Sharpe Ratio Comparison

The current PQDI Sharpe Ratio is 2.33, which is higher than the PY Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of PQDI and PY, 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

	PQDI	PY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	1.51	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.48	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.54	+0.50

Drawdowns

PQDI vs. PY - Drawdown Comparison

The maximum PQDI drawdown since its inception was -17.41%, smaller than the maximum PY drawdown of -45.44%. Use the drawdown chart below to compare losses from any high point for PQDI and PY.

Drawdown Indicators

	PQDI	PY	Difference
Max Drawdown Largest peak-to-trough decline	-17.41%	-45.44%	+28.03%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-6.20%	+2.89%
Max Drawdown (3Y) Largest decline over 3 years	-3.31%	-17.84%	+14.53%
Max Drawdown (5Y) Largest decline over 5 years	-17.41%	-17.84%	+0.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.44%	—
Current Drawdown Current decline from peak	-0.50%	-0.50%	0.00%
Average Drawdown Average peak-to-trough decline	-3.51%	-5.05%	+1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	1.85%	-1.11%

Volatility

PQDI vs. PY - Volatility Comparison

The current volatility for Principal Spectrum Preferred and Income ETF (PQDI) is 1.16%, while Principal Value ETF (PY) has a volatility of 2.38%. This indicates that PQDI experiences smaller price fluctuations and is considered to be less risky than PY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQDI	PY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	2.38%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	7.27%	-4.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.22%	10.52%	-7.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.69%	15.77%	-11.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.56%	20.08%	-15.52%

PQDI vs. PY - Expense Ratio Comparison

PQDI has a 0.60% expense ratio, which is higher than PY's 0.15% expense ratio.

Dividends

PQDI vs. PY - Dividend Comparison

PQDI's dividend yield for the trailing twelve months is around 5.46%, more than PY's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PQDI Principal Spectrum Preferred and Income ETF	5.46%	5.02%	4.93%	5.35%	5.60%	5.21%	2.69%	0.00%	0.00%	0.00%	0.00%
PY Principal Value ETF	2.12%	2.14%	2.22%	2.68%	3.02%	2.83%	2.95%	2.25%	2.34%	1.68%	1.85%

Frequently Asked Questions

Can I hold both PQDI and PY in my portfolio?

PQDI and PY have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQDI or PY?

PY has higher volatility (2.38%) compared to PQDI (1.16%). In terms of maximum drawdown, PQDI dropped -17.41% vs PY's -45.44%.

Which ETF is better, PQDI or PY?

On 5-year performance, PY leads with 7.48% vs 3.30% for PQDI. On fees, PY is cheaper at 0.15% per year. On volatility, PQDI has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQDI or PY?

Over the 5-year period, PY has performed better with a 7.48% return vs 3.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQDI or PY?

PY is cheaper with a 0.15% expense ratio, compared with 0.60% for PQDI.

Which ETF pays a higher dividend yield, PQDI or PY?

PQDI has the higher dividend yield at 5.46%, compared with 2.12% for PY.

What is the main difference between PQDI and PY?

PQDI is categorized as Preferred Stock/Convertible Bonds, while PY is Large Cap Value Equities. Their fees differ too: 0.60% for PQDI and 0.15% for PY.

Which has better risk-adjusted returns?

PQDI currently has the higher Sharpe Ratio (2.33 vs 1.51), 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.