PSSMX vs. PMOAX
PSSMX (Principal SmallCap S&P 600 Index Fund) and PMOAX (Principal Opportunistic Municipal Fund) are both mutual funds - PSSMX is a Small Cap Blend Equities fund managed by Principal, while PMOAX is a High Yield Muni fund managed by Principal. Over the past 10 years, PSSMX returned 11.42%/yr vs 2.33%/yr for PMOAX. At a correlation of -0.07, they often move in opposite directions. PSSMX charges 0.73%/yr vs 0.84%/yr for PMOAX.
Performance
PSSMX vs. PMOAX - Performance Comparison
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Returns By Period
In the year-to-date period, PSSMX achieves a 19.34% return, which is significantly higher than PMOAX's 2.52% return. Over the past 10 years, PSSMX has outperformed PMOAX with an annualized return of 11.42%, while PMOAX has yielded a comparatively lower 2.33% annualized return.
PSSMX
- 1D
- 0.03%
- 1M
- 4.50%
- YTD
- 19.34%
- 6M
- 16.91%
- 1Y
- 34.25%
- 3Y*
- 18.57%
- 5Y*
- 7.59%
- 10Y*
- 11.42%
PMOAX
- 1D
- 0.00%
- 1M
- 2.09%
- YTD
- 2.52%
- 6M
- 3.03%
- 1Y
- 7.49%
- 3Y*
- 4.47%
- 5Y*
- -0.13%
- 10Y*
- 2.33%
PSSMX vs. PMOAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSSMX Principal SmallCap S&P 600 Index Fund | 19.34% | 5.34% | 16.60% | 15.18% | -16.69% | 25.39% | 10.65% | 21.99% | -9.42% | 12.46% |
PMOAX Principal Opportunistic Municipal Fund | 2.52% | 2.91% | 4.40% | 6.76% | -16.56% | 6.38% | 4.40% | 10.55% | 1.34% | 10.14% |
Correlation
The correlation between PSSMX and PMOAX is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2012 | -0.07 |
The correlation between PSSMX and PMOAX shifts across timeframes, from -0.07 (all time) to 0.14 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PSSMX vs. PMOAX — Risk / Return Rank
PSSMX
PMOAX
PSSMX vs. PMOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal SmallCap S&P 600 Index Fund (PSSMX) and Principal Opportunistic Municipal Fund (PMOAX). 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.
| PSSMX | PMOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.56 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 2.63 | +1.49 |
| Martin ratioReturn relative to average drawdown | 13.86 | 8.28 | +5.58 |
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Drawdowns
PSSMX vs. PMOAX - Drawdown Comparison
The maximum PSSMX drawdown since its inception was -58.43%, which is greater than PMOAX's maximum drawdown of -21.33%. Use the drawdown chart below to compare losses from any high point for PSSMX and PMOAX.
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Drawdown Indicators
| PSSMX | PMOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.43% | -21.33% | -37.10% |
Max Drawdown (1Y)Largest decline over 1 year | -8.76% | -2.91% | -5.85% |
Max Drawdown (3Y)Largest decline over 3 years | -24.30% | -6.41% | -17.89% |
Max Drawdown (5Y)Largest decline over 5 years | -27.01% | -21.33% | -5.68% |
Max Drawdown (10Y)Largest decline over 10 years | -44.85% | -21.33% | -23.52% |
Current DrawdownCurrent decline from peak | -0.03% | -2.11% | +2.08% |
Average DrawdownAverage peak-to-trough decline | -9.50% | -4.78% | -4.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 0.92% | +1.68% |
Volatility
PSSMX vs. PMOAX - Volatility Comparison
Principal SmallCap S&P 600 Index Fund (PSSMX) has a higher volatility of 4.88% compared to Principal Opportunistic Municipal Fund (PMOAX) at 0.85%. This indicates that PSSMX's price experiences larger fluctuations and is considered to be riskier than PMOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSSMX | PMOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.88% | 0.85% | +4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 2.27% | +9.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.72% | 3.34% | +14.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.76% | 4.76% | +17.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.94% | 5.05% | +17.89% |
PSSMX vs. PMOAX - Expense Ratio Comparison
PSSMX has a 0.73% expense ratio, which is lower than PMOAX's 0.84% expense ratio.
Dividends
PSSMX vs. PMOAX - Dividend Comparison
PSSMX's dividend yield for the trailing twelve months is around 8.36%, more than PMOAX's 4.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMOAX Principal Opportunistic Municipal Fund | 4.50% | 4.59% | 4.32% | 3.42% | 3.36% | 3.09% | 3.28% | 3.48% | 3.89% | 3.62% | 3.57% | 3.73% |
PSSMX Principal SmallCap S&P 600 Index Fund | 8.36% | 9.98% | 15.91% | 3.75% | 10.45% | 8.23% | 1.67% | 6.56% | 13.08% | 6.03% | 6.15% | 8.07% |
Frequently Asked Questions
PSSMX and PMOAX have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSSMX has higher volatility (4.88%) compared to PMOAX (0.85%). In terms of maximum drawdown, PSSMX dropped -58.43% vs PMOAX's -21.33%.
PMOAX currently has the higher Sharpe Ratio (2.29 vs 2.04), 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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