PSBMX vs. PQIAX

Last updated Aug 1, 2026

PSBMX (Principal SmallCap Fund) and PQIAX (Principal Equity Income Fund) are both mutual funds - PSBMX is a Small Cap Blend Equities fund managed by Principal, while PQIAX is a Dividend fund managed by Principal. Over the past 10 years, PSBMX returned 10.16%/yr vs 12.49%/yr for PQIAX. Their correlation of 0.86 means they have usually moved in the same direction. PSBMX charges 1.31%/yr vs 0.86%/yr for PQIAX.

Performance

PSBMX vs. PQIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal SmallCap Fund (PSBMX) and Principal Equity Income Fund (PQIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSBMX achieves a 14.25% return, which is significantly higher than PQIAX's 12.73% return. Over the past 10 years, PSBMX has underperformed PQIAX with an annualized return of 10.16%, while PQIAX has yielded a comparatively higher 12.49% annualized return.

PSBMX

• 1D: 1.65%
• 1M: -1.13%
• 6M: 8.75%
• YTD: 14.25%
• 1Y: 29.47%
• 3Y*: 12.11%
• 5Y*: 5.93%
• 10Y*: 10.16%
• ALL TIME*: 8.76%

PQIAX

• 1D: 0.48%
• 1M: 1.55%
• 6M: 8.92%
• YTD: 12.73%
• 1Y: 23.38%
• 3Y*: 19.10%
• 5Y*: 11.48%
• 10Y*: 12.49%
• ALL TIME*: 6.33%

*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)
PQIAX Principal Equity Income Fund	$0.00	$0.00	$0.00
PSBMX Principal SmallCap Fund	$0.00	$0.00	$0.00

PSBMX vs. PQIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSBMX Principal SmallCap Fund	14.25%	14.58%	8.53%	15.11%	-20.51%	19.21%	21.44%	26.97%	-11.42%	12.35%
PQIAX Principal Equity Income Fund	12.73%	15.29%	26.56%	10.77%	-10.82%	21.88%	6.12%	28.44%	-5.44%	20.53%

Correlation

The correlation between PSBMX and PQIAX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.86

The correlation between PSBMX and PQIAX shifts across timeframes, from 0.72 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PSBMX vs. PQIAX — Risk / Return Rank

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

PSBMX

PSBMX Risk / Return Rank: 58
PSBMX Sharpe Ratio Rank: 56
PSBMX Sortino Ratio Rank: 57
PSBMX Omega Ratio Rank: 51
PSBMX Calmar Ratio Rank: 65
PSBMX Martin Ratio Rank: 64

PQIAX

PQIAX Risk / Return Rank: 84
PQIAX Sharpe Ratio Rank: 83
PQIAX Sortino Ratio Rank: 83
PQIAX Omega Ratio Rank: 79
PQIAX Calmar Ratio Rank: 86
PQIAX Martin Ratio Rank: 89

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.

PSBMX vs. PQIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal SmallCap Fund (PSBMX) and Principal Equity Income Fund (PQIAX). 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.

	PSBMX	PQIAX	Difference
Sharpe ratio: Return per unit of total volatility	1.48	1.99	-0.50
Sortino ratio: Return per unit of downside risk	2.16	2.91	-0.75
Omega ratio: Gain probability vs. loss probability	1.26	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	2.24	3.01	-0.78
Martin ratio: Return relative to average drawdown	8.48	12.01	-3.53

PSBMX vs. PQIAX - Sharpe Ratio Comparison

The current PSBMX Sharpe Ratio is 1.48, which is comparable to the PQIAX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of PSBMX and PQIAX, 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

PSBMX vs. PQIAX - Drawdown Comparison

The maximum PSBMX drawdown since its inception was -60.15%, which is greater than PQIAX's maximum drawdown of -54.68%. Use the drawdown chart below to compare losses from any high point for PSBMX and PQIAX.

Drawdown Indicators

	PSBMX	PQIAX	Difference
Max Drawdown Largest peak-to-trough decline	-60.15%	-54.68%	-5.47%
Max Drawdown (1Y) Largest decline over 1 year	-12.10%	-7.07%	-5.03%
Max Drawdown (3Y) Largest decline over 3 years	-25.13%	-15.47%	-9.66%
Max Drawdown (5Y) Largest decline over 5 years	-31.32%	-21.22%	-10.10%
Max Drawdown (10Y) Largest decline over 10 years	-42.04%	-37.67%	-4.37%
Current Drawdown Current decline from peak	-3.41%	-0.80%	-2.61%
Average Drawdown Average peak-to-trough decline	-10.73%	-6.99%	-3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	1.77%	+1.42%

Volatility

PSBMX vs. PQIAX - Volatility Comparison

Principal SmallCap Fund (PSBMX) has a higher volatility of 4.34% compared to Principal Equity Income Fund (PQIAX) at 3.02%. This indicates that PSBMX's price experiences larger fluctuations and is considered to be riskier than PQIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSBMX	PQIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	3.02%	+1.32%
Volatility (6M) Calculated over the trailing 6-month period	14.17%	7.87%	+6.30%
Volatility (1Y) Calculated over the trailing 1-year period	18.24%	10.75%	+7.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.01%	15.24%	+6.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.37%	16.35%	+6.02%

PSBMX vs. PQIAX - Expense Ratio Comparison

PSBMX has a 1.31% expense ratio, which is higher than PQIAX's 0.86% expense ratio.

Dividends

PSBMX vs. PQIAX - Dividend Comparison

PSBMX's dividend yield for the trailing twelve months is around 4.89%, less than PQIAX's 8.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PQIAX Principal Equity Income Fund	8.90%	9.92%	20.62%	2.58%	5.37%	5.05%	1.52%	4.30%	7.41%	6.28%	3.73%	2.11%
PSBMX Principal SmallCap Fund	4.89%	5.58%	3.66%	2.91%	0.00%	7.82%	2.28%	5.83%	16.72%	8.65%	2.29%	3.80%

Frequently Asked Questions

Can I hold both PSBMX and PQIAX in my portfolio?

PSBMX and PQIAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSBMX or PQIAX?

PSBMX has higher volatility (4.34%) compared to PQIAX (3.02%). In terms of maximum drawdown, PSBMX dropped -60.15% vs PQIAX's -54.68%.

Which has better risk-adjusted returns?

PQIAX currently has the higher Sharpe Ratio (1.99 vs 1.48), 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.