PSC vs. ASCE

Last updated Jun 4, 2026

PSC (Principal U.S. Small Cap Multi-Factor ETF) and ASCE (Allspring SMID Core ETF) are both Small Cap Blend Equities funds. PSC is passively managed, while ASCE is actively managed. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.38% expense ratio.

Performance

PSC vs. ASCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal U.S. Small Cap Multi-Factor ETF (PSC) and Allspring SMID Core ETF (ASCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSC achieves a 13.84% return, which is significantly lower than ASCE's 22.25% return.

PSC

• 1D: -0.94%
• 1M: 3.79%
• YTD: 13.84%
• 6M: 13.56%
• 1Y: 27.15%
• 3Y*: 18.36%
• 5Y*: 8.06%
• 10Y*: —

ASCE

• 1D: -0.38%
• 1M: 5.38%
• YTD: 22.25%
• 6M: 21.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSC vs. ASCE - Yearly Performance Comparison

	2026 (YTD)	2025
PSC Principal U.S. Small Cap Multi-Factor ETF	13.84%	7.51%
ASCE Allspring SMID Core ETF	22.25%	8.61%

Correlation

The correlation between PSC and ASCE is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.89

Return for Risk

PSC vs. ASCE — Risk / Return Rank

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

PSC

PSC Risk / Return Rank: 46
PSC Sharpe Ratio Rank: 41
PSC Sortino Ratio Rank: 42
PSC Omega Ratio Rank: 38
PSC Calmar Ratio Rank: 55
PSC Martin Ratio Rank: 55

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.

PSC vs. ASCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal U.S. Small Cap Multi-Factor ETF (PSC) and Allspring SMID Core ETF (ASCE). 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.

	PSC	ASCE	Difference
Sharpe ratio Return per unit of total volatility	1.46	—	—
Sortino ratio Return per unit of downside risk	2.14	—	—
Omega ratio Gain probability vs. loss probability	1.25	—	—
Calmar ratio Return relative to maximum drawdown	2.74	—	—
Martin ratio Return relative to average drawdown	9.55	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PSC	ASCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	1.92	-1.42

Drawdowns

PSC vs. ASCE - Drawdown Comparison

The maximum PSC drawdown since its inception was -46.69%, which is greater than ASCE's maximum drawdown of -9.22%. Use the drawdown chart below to compare losses from any high point for PSC and ASCE.

Drawdown Indicators

	PSC	ASCE	Difference
Max Drawdown Largest peak-to-trough decline	-46.69%	-9.22%	-37.47%
Max Drawdown (1Y) Largest decline over 1 year	-9.95%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.86%	—	—
Current Drawdown Current decline from peak	-0.94%	-0.38%	-0.56%
Average Drawdown Average peak-to-trough decline	-8.28%	-2.10%	-6.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	—	—

Volatility

Volatility by Period

	PSC	ASCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.65%	19.25%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.99%	19.25%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.30%	19.25%	+4.05%

PSC vs. ASCE - Expense Ratio Comparison

Both PSC and ASCE have an expense ratio of 0.38%.

Dividends

PSC vs. ASCE - Dividend Comparison

PSC's dividend yield for the trailing twelve months is around 0.58%, more than ASCE's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ASCE Allspring SMID Core ETF	0.18%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSC Principal U.S. Small Cap Multi-Factor ETF	0.58%	0.67%	0.75%	0.73%	1.92%	1.45%	1.25%	1.47%	1.30%	0.95%	0.35%

Frequently Asked Questions

Can I hold both PSC and ASCE in my portfolio?

PSC and ASCE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PSC or ASCE?

Both ETFs have the same 0.38% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PSC or ASCE?

PSC and ASCE have the same expense ratio: 0.38% per year.

Which ETF pays a higher dividend yield, PSC or ASCE?

PSC has the higher dividend yield at 0.58%, compared with 0.18% for ASCE.

What is the main difference between PSC and ASCE?

They also come from different issuers: Principal and Allspring.