PTEAX vs. PMAQX
PTEAX (Principal Tax-Exempt Bond Fund) and PMAQX (Principal MidCap R6) are both mutual funds - PTEAX is a Municipal Bonds fund managed by Principal, while PMAQX is a Mid Cap Growth Equities fund managed by Principal. Over the past 5 years, PTEAX returned -0.20%/yr vs 4.56%/yr for PMAQX. Their 0.07 correlation means their historical movements had little consistent relationship. PTEAX charges 0.73%/yr vs 0.60%/yr for PMAQX.
Performance
PTEAX vs. PMAQX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PTEAX achieves a 0.02% return, which is significantly higher than PMAQX's -3.68% return.
PTEAX
- 1D
- -0.30%
- 1M
- -1.94%
- 6M
- -0.89%
- YTD
- 0.02%
- 1Y
- 4.69%
- 3Y*
- 3.09%
- 5Y*
- -0.20%
- 10Y*
- 1.71%
- ALL TIME*
- 1.90%
PMAQX
- 1D
- -1.38%
- 1M
- -0.58%
- 6M
- -3.05%
- YTD
- -3.68%
- 1Y
- -7.25%
- 3Y*
- 9.39%
- 5Y*
- 4.56%
- 10Y*
- —
- ALL TIME*
- 12.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
PMAQX Principal MidCap R6 | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
PTEAX vs. PMAQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PTEAX Principal Tax-Exempt Bond Fund | 0.02% | 4.68% | 2.10% | 6.35% | -12.18% | 2.71% | 4.80% | 9.05% | 0.44% | 6.44% |
PMAQX Principal MidCap R6 | -3.68% | 1.71% | 23.74% | 26.02% | -23.09% | 25.29% | 18.38% | 49.59% | -6.79% | 24.68% |
Correlation
The correlation between PTEAX and PMAQX is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.08 |
Over the past year, PTEAX and PMAQX have become more correlated (0.29) than their long-term average of 0.07, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PTEAX vs. PMAQX — Risk / Return Rank
PTEAX
PMAQX
PTEAX vs. PMAQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Tax-Exempt Bond Fund (PTEAX) and Principal MidCap R6 (PMAQX). 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.
| PTEAX | PMAQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.56 | ||
| Sortino ratioReturn per unit of downside risk | +3.87 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 0.91 | +0.58 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | -0.48 | +2.32 |
| Martin ratioReturn relative to average drawdown | 6.06 | -0.94 | +6.99 |
Loading charts...
Drawdowns
PTEAX vs. PMAQX - Drawdown Comparison
The maximum PTEAX drawdown since its inception was -38.72%, roughly equal to the maximum PMAQX drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for PTEAX and PMAQX.
Loading charts...
Drawdown Indicators
| PTEAX | PMAQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.72% | -40.56% | +1.84% |
Max Drawdown (1Y)Largest decline over 1 year | -3.10% | -19.25% | +16.15% |
Max Drawdown (3Y)Largest decline over 3 years | -5.08% | -19.25% | +14.17% |
Max Drawdown (5Y)Largest decline over 5 years | -17.37% | -31.10% | +13.73% |
Max Drawdown (10Y)Largest decline over 10 years | -17.37% | — | — |
Current DrawdownCurrent decline from peak | -1.94% | -9.95% | +8.01% |
Average DrawdownAverage peak-to-trough decline | -5.91% | -6.89% | +0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 9.79% | -8.85% |
Volatility
PTEAX vs. PMAQX - Volatility Comparison
The current volatility for Principal Tax-Exempt Bond Fund (PTEAX) is 0.92%, while Principal MidCap R6 (PMAQX) has a volatility of 5.19%. This indicates that PTEAX experiences smaller price fluctuations and is considered to be less risky than PMAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PTEAX | PMAQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.92% | 5.19% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.26% | 12.03% | -9.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.93% | 15.17% | -12.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.02% | 18.75% | -14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.40% | 19.43% | -15.03% |
PTEAX vs. PMAQX - Expense Ratio Comparison
PTEAX has a 0.73% expense ratio, which is higher than PMAQX's 0.60% expense ratio.
Dividends
PTEAX vs. PMAQX - Dividend Comparison
PTEAX's dividend yield for the trailing twelve months is around 3.56%, less than PMAQX's 6.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PMAQX Principal MidCap R6 | 6.02% | 5.80% | 6.46% | 2.58% | 3.18% | 7.96% | 1.08% | 9.14% | 12.39% | 3.39% | 0.00% | 0.00% |
PTEAX Principal Tax-Exempt Bond Fund | 3.56% | 4.66% | 3.73% | 2.81% | 2.27% | 2.15% | 2.23% | 3.09% | 3.68% | 3.69% | 3.91% | 3.75% |
Frequently Asked Questions
PTEAX and PMAQX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PMAQX has higher volatility (5.19%) compared to PTEAX (0.92%). In terms of maximum drawdown, PTEAX dropped -38.72% vs PMAQX's -40.56%.
PTEAX currently has the higher Sharpe Ratio (1.95 vs -0.60), 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.
Find the right allocation for PTEAX and PMAQX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer