PY vs. VMAX

Last updated Aug 4, 2026

PY (Principal Value ETF) and VMAX (Hartford US Value ETF) are both Large Cap Value Equities funds. Both are actively managed. Over the past year, PY returned 17.17% vs 31.16% for VMAX. Their correlation of 0.88 means they have usually moved in the same direction. PY charges 0.15%/yr vs 0.29%/yr for VMAX.

Performance

PY vs. VMAX - Performance Comparison

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

Returns By Period

In the year-to-date period, PY achieves a 9.52% return, which is significantly lower than VMAX's 18.73% return.

PY

• 1D: 0.47%
• 1M: 3.49%
• 6M: 7.60%
• YTD: 9.52%
• 1Y: 17.17%
• 3Y*: 13.38%
• 5Y*: 8.87%
• 10Y*: 11.12%
• ALL TIME*: 11.00%

VMAX

• 1D: 0.57%
• 1M: 2.72%
• 6M: 13.64%
• YTD: 18.73%
• 1Y: 31.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 21.61%

*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)
PY Principal Value ETF	$927.89K	$761.94K	$818.38K
VMAX Hartford US Value ETF	$16.61K	$9.61K	$6.33K

PY vs. VMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PY Principal Value ETF	9.52%	7.74%	16.79%	5.65%
VMAX Hartford US Value ETF	18.73%	15.65%	15.89%	5.71%

Correlation

The correlation between PY and VMAX is 0.77, 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.	0.77
Correlation (All Time) Calculated using the full available price history since Dec 6, 2023	0.88

The correlation between PY and VMAX shifts across timeframes, from 0.77 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

PY vs. VMAX - Sectors Allocation Comparison

Sectors	PY	VMAX
Technology	25.1%	13.8%
Financial Services	16.6%	33.8%
Healthcare	12.8%	11.3%
Consumer Defensive	11.5%	3.6%
Consumer Cyclical	10.7%	3.8%
Industrials	8.8%	5.4%
Energy	5.3%	9.8%
Communication Services	4.8%	5.9%
Utilities	1.9%	5.4%
Basic Materials	1.4%	2.4%
Real Estate	1.1%	4.8%

Return for Risk

PY vs. VMAX — Risk / Return Rank

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

PY

PY Risk / Return Rank: 71
PY Sharpe Ratio Rank: 68
PY Sortino Ratio Rank: 70
PY Omega Ratio Rank: 67
PY Calmar Ratio Rank: 75
PY Martin Ratio Rank: 72

VMAX

VMAX Risk / Return Rank: 94
VMAX Sharpe Ratio Rank: 93
VMAX Sortino Ratio Rank: 93
VMAX Omega Ratio Rank: 92
VMAX Calmar Ratio Rank: 96
VMAX Martin Ratio Rank: 96

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.

PY vs. VMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Value ETF (PY) and Hartford US Value ETF (VMAX). 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	VMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.62	-0.98
Sortino ratio: Return per unit of downside risk	2.40	3.57	-1.16
Omega ratio: Gain probability vs. loss probability	1.30	1.47	-0.17
Calmar ratio: Return relative to maximum drawdown	2.78	6.35	-3.57
Martin ratio: Return relative to average drawdown	9.40	23.40	-14.00

PY vs. VMAX - Sharpe Ratio Comparison

The current PY Sharpe Ratio is 1.64, which is lower than the VMAX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of PY and VMAX, 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. VMAX - Drawdown Comparison

The maximum PY drawdown since its inception was -45.44%, which is greater than VMAX's maximum drawdown of -19.05%. Use the drawdown chart below to compare losses from any high point for PY and VMAX.

Drawdown Indicators

	PY	VMAX	Difference
Max Drawdown Largest peak-to-trough decline	-45.44%	-19.05%	-26.39%
Max Drawdown (1Y) Largest decline over 1 year	-6.20%	-4.93%	-1.27%
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	-1.11%	0.00%	-1.11%
Average Drawdown Average peak-to-trough decline	-4.98%	-2.43%	-2.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	1.33%	+0.50%

Volatility

PY vs. VMAX - Volatility Comparison

Principal Value ETF (PY) has a higher volatility of 3.34% compared to Hartford US Value ETF (VMAX) at 2.51%. This indicates that PY's price experiences larger fluctuations and is considered to be riskier than VMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PY	VMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	2.51%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	7.58%	8.30%	-0.72%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	11.99%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.58%	15.17%	+0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	15.17%	+4.92%

PY vs. VMAX - Expense Ratio Comparison

PY has a 0.15% expense ratio, which is lower than VMAX's 0.29% expense ratio.

Dividends

PY vs. VMAX - Dividend Comparison

PY's dividend yield for the trailing twelve months is around 1.89%, more than VMAX's 1.82% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PY Principal Value ETF	1.89%	2.14%	2.22%	2.68%	3.02%	2.83%	2.95%	2.25%	2.34%	1.68%	1.85%
VMAX Hartford US Value ETF	1.82%	2.14%	1.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PY and VMAX in my portfolio?

PY and VMAX have a correlation of 0.77, 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 VMAX?

PY has higher volatility (3.34%) compared to VMAX (2.51%). In terms of maximum drawdown, PY dropped -45.44% vs VMAX's -19.05%.

Which ETF is better, PY or VMAX?

On 1-year performance, VMAX leads with 31.16% vs 17.17% for PY. On fees, PY is cheaper at 0.15% per year. On volatility, VMAX has been the lower-risk option at 2.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PY or VMAX?

Over the 1-year period, VMAX has performed better with a 31.16% return vs 17.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PY or VMAX?

PY is cheaper with a 0.15% expense ratio, compared with 0.29% for VMAX.

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

PY has the higher dividend yield at 1.89%, compared with 1.82% for VMAX.

What is the main difference between PY and VMAX?

They also come from different issuers: Principal and Hartford. Their fees differ too: 0.15% for PY and 0.29% for VMAX.

Which has better risk-adjusted returns?

VMAX currently has the higher Sharpe Ratio (2.62 vs 1.64), 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.