PVMIX vs. FDRR

Last updated Aug 1, 2026

PVMIX (Principal MidCap Value Fund I) and FDRR (Fidelity Dividend ETF for Rising Rates) are both funds - PVMIX is a Mid Cap Value Equities fund managed by Principal, while FDRR is a Large Cap Blend Equities fund tracking the Fidelity Dividend Index for Rising Rates. Over the past 5 years, PVMIX returned 12.66%/yr vs 12.68%/yr for FDRR. Their correlation of 0.85 means they have usually moved in the same direction. PVMIX charges 0.69%/yr vs 0.15%/yr for FDRR.

Performance

PVMIX vs. FDRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal MidCap Value Fund I (PVMIX) and Fidelity Dividend ETF for Rising Rates (FDRR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PVMIX achieves a 15.94% return, which is significantly higher than FDRR's 12.47% return.

PVMIX

• 1D: -0.17%
• 1M: 1.02%
• 6M: 10.20%
• YTD: 15.94%
• 1Y: 21.13%
• 3Y*: 19.00%
• 5Y*: 12.66%
• 10Y*: 12.72%
• ALL TIME*: 10.81%

FDRR

• 1D: 0.50%
• 1M: 3.15%
• 6M: 10.39%
• YTD: 12.47%
• 1Y: 27.00%
• 3Y*: 19.46%
• 5Y*: 12.68%
• 10Y*: —
• ALL TIME*: 13.75%

*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)
FDRR Fidelity Dividend ETF for Rising Rates	$1.01M	$1.05M	$1.08M
PVMIX Principal MidCap Value Fund I	$0.00	$0.00	$0.00

PVMIX vs. FDRR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PVMIX Principal MidCap Value Fund I	15.94%	6.09%	33.38%	11.04%	-5.95%	30.97%	6.50%	26.69%	-11.07%	14.63%
FDRR Fidelity Dividend ETF for Rising Rates	12.47%	21.70%	20.24%	13.66%	-9.73%	26.06%	8.23%	26.86%	-3.60%	19.29%

Correlation

The correlation between PVMIX and FDRR is 0.60, 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.	0.60
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.83
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.85

Over the past year, the correlation between PVMIX and FDRR has dropped to 0.60 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

PVMIX vs. FDRR — Risk / Return Rank

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

PVMIX

PVMIX Risk / Return Rank: 72
PVMIX Sharpe Ratio Rank: 69
PVMIX Sortino Ratio Rank: 72
PVMIX Omega Ratio Rank: 64
PVMIX Calmar Ratio Rank: 79
PVMIX Martin Ratio Rank: 77

FDRR

FDRR Risk / Return Rank: 88
FDRR Sharpe Ratio Rank: 91
FDRR Sortino Ratio Rank: 90
FDRR Omega Ratio Rank: 89
FDRR Calmar Ratio Rank: 82
FDRR Martin Ratio Rank: 86

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.

PVMIX vs. FDRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal MidCap Value Fund I (PVMIX) and Fidelity Dividend ETF for Rising Rates (FDRR). 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.

	PVMIX	FDRR	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.28	-0.61
Sortino ratio: Return per unit of downside risk	2.49	3.16	-0.68
Omega ratio: Gain probability vs. loss probability	1.30	1.41	-0.11
Calmar ratio: Return relative to maximum drawdown	2.66	3.03	-0.37
Martin ratio: Return relative to average drawdown	9.59	12.02	-2.43

PVMIX vs. FDRR - Sharpe Ratio Comparison

The current PVMIX Sharpe Ratio is 1.67, which is comparable to the FDRR Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of PVMIX and FDRR, 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

PVMIX vs. FDRR - Drawdown Comparison

The maximum PVMIX drawdown since its inception was -56.76%, which is greater than FDRR's maximum drawdown of -36.52%. Use the drawdown chart below to compare losses from any high point for PVMIX and FDRR.

Drawdown Indicators

	PVMIX	FDRR	Difference
Max Drawdown Largest peak-to-trough decline	-56.76%	-36.52%	-20.24%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-8.52%	+1.15%
Max Drawdown (3Y) Largest decline over 3 years	-16.78%	-18.04%	+1.26%
Max Drawdown (5Y) Largest decline over 5 years	-17.05%	-20.92%	+3.87%
Max Drawdown (10Y) Largest decline over 10 years	-41.34%	—	—
Current Drawdown Current decline from peak	-1.00%	-0.06%	-0.94%
Average Drawdown Average peak-to-trough decline	-6.79%	-3.97%	-2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.15%	-0.11%

Volatility

PVMIX vs. FDRR - Volatility Comparison

The current volatility for Principal MidCap Value Fund I (PVMIX) is 2.19%, while Fidelity Dividend ETF for Rising Rates (FDRR) has a volatility of 2.79%. This indicates that PVMIX experiences smaller price fluctuations and is considered to be less risky than FDRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PVMIX	FDRR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	2.79%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	8.73%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	11.80%	11.36%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.10%	14.98%	+3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.13%	16.80%	+2.33%

PVMIX vs. FDRR - Expense Ratio Comparison

PVMIX has a 0.69% expense ratio, which is higher than FDRR's 0.15% expense ratio.

Dividends

PVMIX vs. FDRR - Dividend Comparison

PVMIX's dividend yield for the trailing twelve months is around 6.23%, more than FDRR's 2.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDRR Fidelity Dividend ETF for Rising Rates	2.08%	2.21%	2.61%	2.93%	2.75%	2.09%	2.85%	2.89%	3.20%	2.89%	0.61%	0.00%
PVMIX Principal MidCap Value Fund I	6.23%	7.22%	33.98%	4.63%	7.12%	11.44%	1.38%	5.11%	13.23%	6.92%	1.58%	11.19%

Frequently Asked Questions

Can I hold both PVMIX and FDRR in my portfolio?

PVMIX and FDRR have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PVMIX or FDRR?

FDRR has higher volatility (2.79%) compared to PVMIX (2.19%). In terms of maximum drawdown, PVMIX dropped -56.76% vs FDRR's -36.52%.

Which has better risk-adjusted returns?

FDRR currently has the higher Sharpe Ratio (2.28 vs 1.67), 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.