PQIAX vs. OIEJX
PQIAX (Principal Equity Income Fund) and OIEJX (JPMorgan Equity Income Fund R6) are both Large Cap Value Equities funds. Over the past 10 years, PQIAX returned 12.48%/yr vs 12.62%/yr for OIEJX. With a 0.96 correlation, they move nearly in lockstep. PQIAX charges 0.86%/yr vs 0.45%/yr for OIEJX.
Performance
PQIAX vs. OIEJX - Performance Comparison
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Returns By Period
In the year-to-date period, PQIAX achieves a 9.60% return, which is significantly lower than OIEJX's 12.33% return. Both investments have delivered pretty close results over the past 10 years, with PQIAX having a 12.48% annualized return and OIEJX not far ahead at 12.62%.
PQIAX
- 1D
- 0.25%
- 1M
- 1.00%
- YTD
- 9.60%
- 6M
- 9.19%
- 1Y
- 23.37%
- 3Y*
- 19.69%
- 5Y*
- 11.80%
- 10Y*
- 12.48%
OIEJX
- 1D
- 0.25%
- 1M
- 2.74%
- YTD
- 12.33%
- 6M
- 11.61%
- 1Y
- 24.89%
- 3Y*
- 17.93%
- 5Y*
- 12.20%
- 10Y*
- 12.62%
PQIAX vs. OIEJX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PQIAX Principal Equity Income Fund | 9.60% | 15.29% | 26.56% | 10.77% | -10.82% | 21.88% | 6.12% | 28.44% | -5.44% | 20.53% |
OIEJX JPMorgan Equity Income Fund R6 | 12.33% | 14.95% | 19.97% | 5.05% | -1.63% | 25.41% | 3.87% | 26.61% | -4.23% | 17.85% |
Correlation
The correlation between PQIAX and OIEJX is 0.91, 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 | 0.91 |
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 Jan 31, 2012 | 0.96 |
The correlation between PQIAX and OIEJX has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.
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Return for Risk
PQIAX vs. OIEJX — Risk / Return Rank
PQIAX
OIEJX
PQIAX vs. OIEJX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Equity Income Fund (PQIAX) and JPMorgan Equity Income Fund R6 (OIEJX). 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.
| PQIAX | OIEJX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.43 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 3.55 | -0.20 |
| Martin ratioReturn relative to average drawdown | 13.11 | 13.62 | -0.51 |
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Drawdowns
PQIAX vs. OIEJX - Drawdown Comparison
The maximum PQIAX drawdown since its inception was -54.68%, which is greater than OIEJX's maximum drawdown of -36.88%. Use the drawdown chart below to compare losses from any high point for PQIAX and OIEJX.
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Drawdown Indicators
| PQIAX | OIEJX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.68% | -36.88% | -17.80% |
Max Drawdown (1Y)Largest decline over 1 year | -7.07% | -7.08% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -15.47% | -14.16% | -1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -21.22% | -14.74% | -6.48% |
Max Drawdown (10Y)Largest decline over 10 years | -37.67% | -36.88% | -0.79% |
Current DrawdownCurrent decline from peak | -0.69% | -0.72% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -7.00% | -3.00% | -4.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 1.84% | -0.04% |
Volatility
PQIAX vs. OIEJX - Volatility Comparison
The current volatility for Principal Equity Income Fund (PQIAX) is 2.92%, while JPMorgan Equity Income Fund R6 (OIEJX) has a volatility of 3.29%. This indicates that PQIAX experiences smaller price fluctuations and is considered to be less risky than OIEJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PQIAX | OIEJX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 3.29% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 7.99% | 8.05% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.71% | 10.55% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.28% | 14.32% | +0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.42% | 16.80% | -0.38% |
PQIAX vs. OIEJX - Expense Ratio Comparison
PQIAX has a 0.86% expense ratio, which is higher than OIEJX's 0.45% expense ratio.
Dividends
PQIAX vs. OIEJX - Dividend Comparison
PQIAX's dividend yield for the trailing twelve months is around 9.15%, less than OIEJX's 9.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
OIEJX JPMorgan Equity Income Fund R6 | 9.87% | 11.06% | 14.67% | 3.01% | 3.93% | 3.57% | 2.04% | 3.01% | 5.37% | 2.70% | 2.71% | 3.03% |
PQIAX Principal Equity Income Fund | 9.15% | 9.92% | 20.62% | 2.58% | 5.37% | 5.05% | 1.52% | 4.30% | 7.41% | 6.28% | 3.73% | 2.11% |
Frequently Asked Questions
With a correlation of 0.91, PQIAX and OIEJX 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.
OIEJX has higher volatility (3.29%) compared to PQIAX (2.92%). In terms of maximum drawdown, PQIAX dropped -54.68% vs OIEJX's -36.88%.
OIEJX currently has the higher Sharpe Ratio (2.38 vs 2.21), 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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