PY vs. PQDI

Last updated Jun 4, 2026

PY (Principal Value ETF) and PQDI (Principal Spectrum Preferred and Income ETF) are both exchange-traded funds - PY is a Large Cap Value Equities fund actively managed by Principal, while PQDI is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA 7% Constrained DRD Eligible Preferred Securities Index. PY is actively managed, while PQDI is passively managed. Over the past 5 years, PY returned 7.32%/yr vs 3.23%/yr for PQDI. At a 0.43 correlation, their price movements are largely independent. PY charges 0.15%/yr vs 0.60%/yr for PQDI.

Performance

PY vs. PQDI - Performance Comparison

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

Returns By Period

In the year-to-date period, PY achieves a 4.14% return, which is significantly higher than PQDI's 1.19% return.

PY

• 1D: -0.49%
• 1M: 1.70%
• YTD: 4.14%
• 6M: 4.52%
• 1Y: 14.24%
• 3Y*: 13.22%
• 5Y*: 7.32%
• 10Y*: 10.73%

PQDI

• 1D: -0.13%
• 1M: 0.33%
• YTD: 1.19%
• 6M: 1.73%
• 1Y: 7.12%
• 3Y*: 9.06%
• 5Y*: 3.23%
• 10Y*: —

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

PY vs. PQDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PY Principal Value ETF	4.14%	7.74%	16.79%	9.11%	-5.10%	34.83%	23.01%
PQDI Principal Spectrum Preferred and Income ETF	1.19%	8.46%	9.99%	6.24%	-9.61%	3.10%	9.81%

Correlation

The correlation between PY and PQDI is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020	0.43

The correlation between PY and PQDI shifts across timeframes, from 0.43 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.

PY vs. PQDI - Sectors Allocation Comparison

Sectors	PY	PQDI
Technology	25.0%	-
Financial Services	16.5%	10.5%
Healthcare	12.0%	-
Consumer Defensive	11.5%	-
Consumer Cyclical	11.0%	-
Industrials	9.3%	-
Energy	5.6%	-
Communication Services	5.1%	0.7%
Utilities	1.7%	-
Basic Materials	1.2%	-
Real Estate	1.1%	-

Return for Risk

PY vs. PQDI — Risk / Return Rank

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

PY

PY Risk / Return Rank: 41
PY Sharpe Ratio Rank: 38
PY Sortino Ratio Rank: 39
PY Omega Ratio Rank: 37
PY Calmar Ratio Rank: 47
PY Martin Ratio Rank: 47

PQDI

PQDI Risk / Return Rank: 63
PQDI Sharpe Ratio Rank: 67
PQDI Sortino Ratio Rank: 71
PQDI Omega Ratio Rank: 80
PQDI Calmar Ratio Rank: 44
PQDI Martin Ratio Rank: 56

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. PQDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Value ETF (PY) and Principal Spectrum Preferred and Income ETF (PQDI). 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.

	PY	PQDI	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.22	-0.86
Sortino ratio: Return per unit of downside risk	2.00	3.24	-1.25
Omega ratio: Gain probability vs. loss probability	1.24	1.48	-0.24
Calmar ratio: Return relative to maximum drawdown	2.31	2.16	+0.15
Martin ratio: Return relative to average drawdown	7.73	9.67	-1.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PY vs. PQDI - Sharpe Ratio Comparison

The current PY Sharpe Ratio is 1.36, which is lower than the PQDI Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of PY and PQDI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PY	PQDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	2.22	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.69	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	1.03	-0.49

Drawdowns

PY vs. PQDI - Drawdown Comparison

The maximum PY drawdown since its inception was -45.44%, which is greater than PQDI's maximum drawdown of -17.41%. Use the drawdown chart below to compare losses from any high point for PY and PQDI.

Drawdown Indicators

	PY	PQDI	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-17.41%	-28.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-3.31%	-2.89%
Max Drawdown (3Y) Largest decline over 3 years	-17.84%	-3.31%	-14.53%
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	-17.41%	-0.43%
Max Drawdown (10Y) Largest decline over 10 years	-45.44%	—	—
Current Drawdown Current decline from peak	-1.00%	-0.63%	-0.37%
Average Drawdown Average peak-to-trough decline	-5.05%	-3.51%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	0.74%	+1.11%

Volatility

PY vs. PQDI - Volatility Comparison

Principal Value ETF (PY) has a higher volatility of 2.28% compared to Principal Spectrum Preferred and Income ETF (PQDI) at 1.07%. This indicates that PY's price experiences larger fluctuations and is considered to be riskier than PQDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PY	PQDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	1.07%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	2.81%	+4.47%
Volatility (1Y) Calculated over the trailing 1-year period	10.53%	3.22%	+7.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.77%	4.69%	+11.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.07%	4.55%	+15.52%

PY vs. PQDI - Expense Ratio Comparison

PY has a 0.15% expense ratio, which is lower than PQDI's 0.60% expense ratio.

Dividends

PY vs. PQDI - Dividend Comparison

PY's dividend yield for the trailing twelve months is around 2.13%, less than PQDI's 5.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PQDI Principal Spectrum Preferred and Income ETF	5.46%	5.02%	4.93%	5.35%	5.60%	5.21%	2.69%	0.00%	0.00%	0.00%	0.00%
PY Principal Value ETF	2.13%	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 PQDI in my portfolio?

PY and PQDI have a correlation of 0.54, 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 PQDI?

PY has higher volatility (2.28%) compared to PQDI (1.07%). In terms of maximum drawdown, PY dropped -45.44% vs PQDI's -17.41%.

Which ETF is better, PY or PQDI?

On 5-year performance, PY leads with 7.32% vs 3.23% for PQDI. On fees, PY is cheaper at 0.15% per year. On volatility, PQDI has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PY or PQDI?

Over the 5-year period, PY has performed better with a 7.32% return vs 3.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PY or PQDI?

PY is cheaper with a 0.15% expense ratio, compared with 0.60% for PQDI.

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

PQDI has the higher dividend yield at 5.46%, compared with 2.13% for PY.

What is the main difference between PY and PQDI?

PY is categorized as Large Cap Value Equities, while PQDI is Preferred Stock/Convertible Bonds. Their fees differ too: 0.15% for PY and 0.60% for PQDI.

Which has better risk-adjusted returns?

PQDI currently has the higher Sharpe Ratio (2.22 vs 1.36), 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.