PY vs. PIEQ

Last updated Jul 14, 2026

PY (Principal Value ETF) and PIEQ (Principal International Equity ETF) are both exchange-traded funds - PY is a Large Cap Value Equities fund actively managed by Principal, while PIEQ is a Foreign Large Cap Equities fund actively managed by Principal. Both are actively managed. Over the past year, PY returned 12.62% vs 22.36% for PIEQ. A 0.50 correlation means they provide meaningful diversification when combined. PY charges 0.15%/yr vs 0.48%/yr for PIEQ.

Performance

PY vs. PIEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Value ETF (PY) and Principal International Equity ETF (PIEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PY having a 7.20% return and PIEQ slightly lower at 6.92%.

PY

• 1D: 0.64%
• 1M: 2.15%
• 6M: 5.63%
• YTD: 7.20%
• 1Y: 12.62%
• 3Y*: 12.68%
• 5Y*: 8.55%
• 10Y*: 10.88%

PIEQ

• 1D: -1.29%
• 1M: -1.92%
• 6M: 2.65%
• YTD: 6.92%
• 1Y: 22.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PY vs. PIEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PY Principal Value ETF	7.20%	7.74%	0.41%
PIEQ Principal International Equity ETF	6.92%	38.10%	-2.98%

Correlation

The correlation between PY and PIEQ is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (All Time) Calculated using the full available price history since Nov 6, 2024	0.50

The correlation between PY and PIEQ has been stable across timeframes, ranging from 0.45 to 0.50 - a consistent structural relationship.

Return for Risk

PY vs. PIEQ — Risk / Return Rank

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

PY

PY Risk / Return Rank: 46
PY Sharpe Ratio Rank: 43
PY Sortino Ratio Rank: 43
PY Omega Ratio Rank: 42
PY Calmar Ratio Rank: 51
PY Martin Ratio Rank: 50

PIEQ

PIEQ Risk / Return Rank: 52
PIEQ Sharpe Ratio Rank: 46
PIEQ Sortino Ratio Rank: 46
PIEQ Omega Ratio Rank: 47
PIEQ Calmar Ratio Rank: 59
PIEQ Martin Ratio Rank: 62

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.

PY vs. PIEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Value ETF (PY) and Principal International Equity ETF (PIEQ). 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.

	PY	PIEQ	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.31	-0.10
Sortino ratio: Return per unit of downside risk	1.78	1.87	-0.09
Omega ratio: Gain probability vs. loss probability	1.22	1.24	-0.02
Calmar ratio: Return relative to maximum drawdown	2.04	2.36	-0.31
Martin ratio: Return relative to average drawdown	6.79	8.79	-2.00

PY vs. PIEQ - Sharpe Ratio Comparison

The current PY Sharpe Ratio is 1.21, which is comparable to the PIEQ Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of PY and PIEQ, 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

PY vs. PIEQ - Drawdown Comparison

The maximum PY drawdown since its inception was -45.44%, which is greater than PIEQ's maximum drawdown of -15.17%. Use the drawdown chart below to compare losses from any high point for PY and PIEQ.

Drawdown Indicators

	PY	PIEQ	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-15.17%	-30.27%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-9.53%	+3.33%
Max Drawdown (3Y) Largest decline over 3 years	-17.84%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.44%	—	—
Current Drawdown Current decline from peak	0.00%	-3.72%	+3.72%
Average Drawdown Average peak-to-trough decline	-5.01%	-1.98%	-3.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.55%	-0.69%

Volatility

PY vs. PIEQ - Volatility Comparison

The current volatility for Principal Value ETF (PY) is 2.83%, while Principal International Equity ETF (PIEQ) has a volatility of 6.14%. This indicates that PY experiences smaller price fluctuations and is considered to be less risky than PIEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PY	PIEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	6.14%	-3.31%
Volatility (6M) Calculated over the trailing 6-month period	7.39%	15.15%	-7.76%
Volatility (1Y) Calculated over the trailing 1-year period	10.49%	17.20%	-6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.67%	17.77%	-2.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.08%	17.77%	+2.31%

PY vs. PIEQ - Expense Ratio Comparison

PY has a 0.15% expense ratio, which is lower than PIEQ's 0.48% expense ratio.

Dividends

PY vs. PIEQ - Dividend Comparison

PY's dividend yield for the trailing twelve months is around 1.93%, more than PIEQ's 1.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PIEQ Principal International Equity ETF	1.20%	1.28%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PY Principal Value ETF	1.93%	2.14%	2.22%	2.68%	3.02%	2.83%	2.95%	2.25%	2.34%	1.68%	1.85%

Frequently Asked Questions

Can I hold both PY and PIEQ in my portfolio?

PY and PIEQ have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PY or PIEQ?

PIEQ has higher volatility (6.14%) compared to PY (2.83%). In terms of maximum drawdown, PY dropped -45.44% vs PIEQ's -15.17%.

Which ETF is better, PY or PIEQ?

On 1-year performance, PIEQ leads with 22.36% vs 12.62% for PY. On fees, PY is cheaper at 0.15% per year. On volatility, PY has been the lower-risk option at 2.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PY or PIEQ?

Over the 1-year period, PIEQ has performed better with a 22.36% return vs 12.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PY or PIEQ?

PY is cheaper with a 0.15% expense ratio, compared with 0.48% for PIEQ.

Which ETF pays a higher dividend yield, PY or PIEQ?

PY has the higher dividend yield at 1.93%, compared with 1.20% for PIEQ.

What is the main difference between PY and PIEQ?

PY is categorized as Large Cap Value Equities, while PIEQ is Foreign Large Cap Equities. Their fees differ too: 0.15% for PY and 0.48% for PIEQ.

Which has better risk-adjusted returns?

PIEQ currently has the higher Sharpe Ratio (1.31 vs 1.21), 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.