PY vs. VLUE

Last updated Jun 4, 2026

PY (Principal Value ETF) and VLUE (iShares Edge MSCI USA Value Factor ETF) are both Large Cap Value Equities funds. PY is actively managed, while VLUE is passively managed. Over the past 10 years, PY returned 10.73%/yr vs 15.43%/yr for VLUE. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.

Performance

PY vs. VLUE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Value ETF (PY) and iShares Edge MSCI USA Value Factor ETF (VLUE). 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 lower than VLUE's 49.00% return. Over the past 10 years, PY has underperformed VLUE with an annualized return of 10.73%, while VLUE has yielded a comparatively higher 15.43% annualized 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%

VLUE

• 1D: -0.42%
• 1M: 20.77%
• YTD: 49.00%
• 6M: 51.40%
• 1Y: 91.45%
• 3Y*: 34.26%
• 5Y*: 16.36%
• 10Y*: 15.43%

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

PY vs. VLUE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PY Principal Value ETF	4.14%	7.74%	16.79%	9.11%	-5.10%	34.83%	2.71%	26.87%	-13.34%	18.87%
VLUE iShares Edge MSCI USA Value Factor ETF	49.00%	32.67%	7.25%	14.26%	-14.17%	28.93%	-0.23%	27.20%	-11.13%	21.95%

Correlation

The correlation between PY and VLUE is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Mar 23, 2016	0.70

The correlation between PY and VLUE shifts across timeframes, from 0.68 (1 year) to 0.88 (5 years), reflecting how their relationship changes across market environments.

PY vs. VLUE - Sectors Allocation Comparison

Sectors	PY	VLUE
Technology	25.0%	44.5%
Financial Services	16.5%	10.4%
Healthcare	12.0%	8.5%
Consumer Defensive	11.5%	4.0%
Consumer Cyclical	11.0%	8.3%
Industrials	9.3%	7.4%
Energy	5.6%	3.2%
Communication Services	5.1%	8.3%
Utilities	1.7%	2.0%
Basic Materials	1.2%	1.6%
Real Estate	1.1%	1.8%

Return for Risk

PY vs. VLUE — 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

VLUE

VLUE Risk / Return Rank: 97
VLUE Sharpe Ratio Rank: 98
VLUE Sortino Ratio Rank: 98
VLUE Omega Ratio Rank: 97
VLUE Calmar Ratio Rank: 96
VLUE Martin Ratio Rank: 97

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. VLUE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Value ETF (PY) and iShares Edge MSCI USA Value Factor ETF (VLUE). 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	VLUE	Difference
Sharpe ratio: Return per unit of total volatility	1.36	5.32	-3.96
Sortino ratio: Return per unit of downside risk	2.00	6.86	-4.86
Omega ratio: Gain probability vs. loss probability	1.24	1.91	-0.66
Calmar ratio: Return relative to maximum drawdown	2.31	10.17	-7.86
Martin ratio: Return relative to average drawdown	7.73	45.62	-37.88
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. VLUE - Sharpe Ratio Comparison

The current PY Sharpe Ratio is 1.36, which is lower than the VLUE Sharpe Ratio of 5.32. The chart below compares the historical Sharpe Ratios of PY and VLUE, 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	VLUE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	5.32	-3.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.92	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.78	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.76	-0.23

Drawdowns

PY vs. VLUE - Drawdown Comparison

The maximum PY drawdown since its inception was -45.44%, which is greater than VLUE's maximum drawdown of -39.47%. Use the drawdown chart below to compare losses from any high point for PY and VLUE.

Drawdown Indicators

	PY	VLUE	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-39.47%	-5.97%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-9.04%	+2.84%
Max Drawdown (3Y) Largest decline over 3 years	-17.84%	-17.89%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	-27.12%	+9.28%
Max Drawdown (10Y) Largest decline over 10 years	-45.44%	-39.47%	-5.97%
Current Drawdown Current decline from peak	-1.00%	-0.42%	-0.58%
Average Drawdown Average peak-to-trough decline	-5.05%	-6.01%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	2.01%	-0.16%

Volatility

PY vs. VLUE - Volatility Comparison

The current volatility for Principal Value ETF (PY) is 2.28%, while iShares Edge MSCI USA Value Factor ETF (VLUE) has a volatility of 8.03%. This indicates that PY experiences smaller price fluctuations and is considered to be less risky than VLUE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PY	VLUE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	8.03%	-5.75%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	13.96%	-6.68%
Volatility (1Y) Calculated over the trailing 1-year period	10.53%	17.30%	-6.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.77%	17.78%	-2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.07%	19.82%	+0.25%

PY vs. VLUE - Expense Ratio Comparison

Both PY and VLUE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

PY vs. VLUE - Dividend Comparison

PY's dividend yield for the trailing twelve months is around 2.13%, more than VLUE's 1.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
VLUE iShares Edge MSCI USA Value Factor ETF	1.40%	2.11%	2.73%	2.66%	3.18%	2.22%	2.42%	2.61%	2.70%	2.14%	2.07%	2.39%

Frequently Asked Questions

Can I hold both PY and VLUE in my portfolio?

PY and VLUE have a correlation of 0.68, 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 VLUE?

VLUE has higher volatility (8.03%) compared to PY (2.28%). In terms of maximum drawdown, PY dropped -45.44% vs VLUE's -39.47%.

Which ETF is better, PY or VLUE?

On 10-year performance, VLUE leads with 15.43% vs 10.73% for PY. Both ETFs have the same 0.15% expense ratio. On volatility, PY has been the lower-risk option at 2.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PY or VLUE?

Over the 10-year period, VLUE has performed better with a 15.43% return vs 10.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PY or VLUE?

PY and VLUE have the same expense ratio: 0.15% per year.

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

PY has the higher dividend yield at 2.13%, compared with 1.40% for VLUE.

What is the main difference between PY and VLUE?

They also come from different issuers: Principal and iShares.

Which has better risk-adjusted returns?

VLUE currently has the higher Sharpe Ratio (5.32 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.