PSMIX vs. PLSAX

Last updated Aug 4, 2026

PSMIX (Principal Global Multi-Strategy Fund) and PLSAX (Principal LargeCap S&P 500 Index Fund Class A) are both mutual funds - PSMIX is a Multistrategy fund managed by Principal, while PLSAX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, PSMIX returned 5.16%/yr vs 14.84%/yr for PLSAX. Their correlation of 0.83 means they have usually moved in the same direction. PSMIX charges 1.63%/yr vs 0.38%/yr for PLSAX.

Performance

PSMIX vs. PLSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Global Multi-Strategy Fund (PSMIX) and Principal LargeCap S&P 500 Index Fund Class A (PLSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSMIX achieves a 5.92% return, which is significantly lower than PLSAX's 9.95% return. Over the past 10 years, PSMIX has underperformed PLSAX with an annualized return of 5.16%, while PLSAX has yielded a comparatively higher 14.84% annualized return.

PSMIX

• 1D: 0.16%
• 1M: 0.65%
• 6M: 4.14%
• YTD: 5.92%
• 1Y: 12.85%
• 3Y*: 9.11%
• 5Y*: 6.14%
• 10Y*: 5.16%
• ALL TIME*: 4.62%

PLSAX

• 1D: 0.71%
• 1M: 0.11%
• 6M: 7.82%
• YTD: 9.95%
• 1Y: 21.15%
• 3Y*: 19.61%
• 5Y*: 12.75%
• 10Y*: 14.84%
• ALL TIME*: 8.04%

*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)
PLSAX Principal LargeCap S&P 500 Index Fund Class A	$0.00	$0.00	$0.00
PSMIX Principal Global Multi-Strategy Fund	$0.00	$0.00	$0.00

PSMIX vs. PLSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSMIX Principal Global Multi-Strategy Fund	5.92%	10.47%	8.90%	6.59%	-1.80%	5.62%	5.11%	8.18%	-4.34%	6.60%
PLSAX Principal LargeCap S&P 500 Index Fund Class A	9.95%	17.50%	26.46%	25.70%	-18.41%	27.93%	17.85%	30.97%	-4.93%	21.23%

Correlation

The correlation between PSMIX and PLSAX is 0.85, 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.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Nov 1, 2011	0.83

The correlation between PSMIX and PLSAX has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

Return for Risk

PSMIX vs. PLSAX — Risk / Return Rank

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

PSMIX

PSMIX Risk / Return Rank: 97
PSMIX Sharpe Ratio Rank: 98
PSMIX Sortino Ratio Rank: 97
PSMIX Omega Ratio Rank: 96
PSMIX Calmar Ratio Rank: 97
PSMIX Martin Ratio Rank: 97

PLSAX

PLSAX Risk / Return Rank: 56
PLSAX Sharpe Ratio Rank: 54
PLSAX Sortino Ratio Rank: 50
PLSAX Omega Ratio Rank: 50
PLSAX Calmar Ratio Rank: 58
PLSAX Martin Ratio Rank: 71

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.

PSMIX vs. PLSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Global Multi-Strategy Fund (PSMIX) and Principal LargeCap S&P 500 Index Fund Class A (PLSAX). 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.

	PSMIX	PLSAX	Difference
Sharpe ratio: Return per unit of total volatility	3.06	1.50	+1.56
Sortino ratio: Return per unit of downside risk	4.50	2.09	+2.41
Omega ratio: Gain probability vs. loss probability	1.60	1.27	+0.33
Calmar ratio: Return relative to maximum drawdown	5.22	2.16	+3.06
Martin ratio: Return relative to average drawdown	20.64	9.25	+11.39

PSMIX vs. PLSAX - Sharpe Ratio Comparison

The current PSMIX Sharpe Ratio is 3.06, which is higher than the PLSAX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of PSMIX and PLSAX, 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

PSMIX vs. PLSAX - Drawdown Comparison

The maximum PSMIX drawdown since its inception was -55.50%, roughly equal to the maximum PLSAX drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for PSMIX and PLSAX.

Drawdown Indicators

	PSMIX	PLSAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.50%	-55.67%	+0.17%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-8.94%	+6.53%
Max Drawdown (3Y) Largest decline over 3 years	-5.01%	-18.78%	+13.77%
Max Drawdown (5Y) Largest decline over 5 years	-6.39%	-24.69%	+18.30%
Max Drawdown (10Y) Largest decline over 10 years	-55.50%	-33.79%	-21.71%
Current Drawdown Current decline from peak	-24.40%	-1.47%	-22.93%
Average Drawdown Average peak-to-trough decline	-26.56%	-10.10%	-16.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	2.08%	-1.47%

Volatility

PSMIX vs. PLSAX - Volatility Comparison

The current volatility for Principal Global Multi-Strategy Fund (PSMIX) is 0.92%, while Principal LargeCap S&P 500 Index Fund Class A (PLSAX) has a volatility of 3.49%. This indicates that PSMIX experiences smaller price fluctuations and is considered to be less risky than PLSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSMIX	PLSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	3.49%	-2.57%
Volatility (6M) Calculated over the trailing 6-month period	3.15%	10.09%	-6.94%
Volatility (1Y) Calculated over the trailing 1-year period	4.13%	12.85%	-8.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.51%	17.02%	-12.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.10%	17.51%	+20.59%

PSMIX vs. PLSAX - Expense Ratio Comparison

PSMIX has a 1.63% expense ratio, which is higher than PLSAX's 0.38% expense ratio.

Dividends

PSMIX vs. PLSAX - Dividend Comparison

PSMIX's dividend yield for the trailing twelve months is around 5.22%, more than PLSAX's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLSAX Principal LargeCap S&P 500 Index Fund Class A	2.50%	2.75%	4.07%	3.90%	2.70%	13.38%	7.35%	3.57%	7.19%	6.72%	2.93%	2.36%
PSMIX Principal Global Multi-Strategy Fund	5.22%	5.53%	1.66%	3.51%	12.10%	4.04%	1.68%	0.00%	6.52%	2.91%	0.15%	3.02%

Frequently Asked Questions

Can I hold both PSMIX and PLSAX in my portfolio?

PSMIX and PLSAX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSMIX or PLSAX?

PLSAX has higher volatility (3.49%) compared to PSMIX (0.92%). In terms of maximum drawdown, PSMIX dropped -55.50% vs PLSAX's -55.67%.

Which has better risk-adjusted returns?

PSMIX currently has the higher Sharpe Ratio (3.06 vs 1.50), 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.