SPXU vs. PLGIX

Last updated Jun 4, 2026

SPXU (ProShares UltraPro Short S&P500) and PLGIX (Principal LargeCap Growth Fund I) are both funds - SPXU is a Leveraged Equities fund tracking the S&P 500 Index (-300%), while PLGIX is a Large Cap Growth Equities fund managed by Principal. Over the past 10 years, SPXU returned -41.95%/yr vs 20.21%/yr for PLGIX. At a correlation of -0.92, they often move in opposite directions. SPXU charges 0.93%/yr vs 0.67%/yr for PLGIX.

Performance

SPXU vs. PLGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraPro Short S&P500 (SPXU) and Principal LargeCap Growth Fund I (PLGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPXU achieves a -25.62% return, which is significantly lower than PLGIX's 6.11% return. Over the past 10 years, SPXU has underperformed PLGIX with an annualized return of -41.95%, while PLGIX has yielded a comparatively higher 20.21% annualized return.

SPXU

• 1D: 2.06%
• 1M: -13.20%
• YTD: -25.62%
• 6M: -25.04%
• 1Y: -48.96%
• 3Y*: -43.02%
• 5Y*: -34.89%
• 10Y*: -41.95%

PLGIX

• 1D: -0.29%
• 1M: 6.85%
• YTD: 6.11%
• 6M: 5.10%
• 1Y: 15.54%
• 3Y*: 35.60%
• 5Y*: 18.09%
• 10Y*: 20.21%

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

SPXU vs. PLGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPXU ProShares UltraPro Short S&P500	-25.62%	-41.73%	-43.31%	-46.02%	36.05%	-57.94%	-70.39%	-56.27%	3.97%	-44.23%
PLGIX Principal LargeCap Growth Fund I	6.11%	11.59%	83.01%	40.40%	-34.05%	21.49%	36.06%	34.89%	3.44%	33.67%

Correlation

The correlation between SPXU and PLGIX is -0.91, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.91
Correlation (3Y) Calculated over the trailing 3-year period	-0.92
Correlation (5Y) Calculated over the trailing 5-year period	-0.92
Correlation (10Y) Calculated over the trailing 10-year period	-0.91
Correlation (All Time) Calculated using the full available price history since Jun 26, 2009	-0.92

The correlation between SPXU and PLGIX has been stable across timeframes, ranging from -0.92 to -0.91 - a consistent structural relationship.

Return for Risk

SPXU vs. PLGIX — Risk / Return Rank

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

SPXU

SPXU Risk / Return Rank: 1
SPXU Sharpe Ratio Rank: 0
SPXU Sortino Ratio Rank: 0
SPXU Omega Ratio Rank: 0
SPXU Calmar Ratio Rank: 1
SPXU Martin Ratio Rank: 1

PLGIX

PLGIX Risk / Return Rank: 12
PLGIX Sharpe Ratio Rank: 15
PLGIX Sortino Ratio Rank: 14
PLGIX Omega Ratio Rank: 14
PLGIX Calmar Ratio Rank: 9
PLGIX Martin Ratio Rank: 9

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.

SPXU vs. PLGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Short S&P500 (SPXU) and Principal LargeCap Growth Fund I (PLGIX). 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.

	SPXU	PLGIX	Difference
Sharpe ratio: Return per unit of total volatility	-1.39	1.06	-2.45
Sortino ratio: Return per unit of downside risk	-2.33	1.52	-3.85
Omega ratio: Gain probability vs. loss probability	0.75	1.19	-0.44
Calmar ratio: Return relative to maximum drawdown	-0.97	0.88	-1.85
Martin ratio: Return relative to average drawdown	-1.63	2.73	-4.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPXU vs. PLGIX - Sharpe Ratio Comparison

The current SPXU Sharpe Ratio is -1.39, which is lower than the PLGIX Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of SPXU and PLGIX, 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

	SPXU	PLGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.39	1.06	-2.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.70	0.60	-1.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.79	0.80	-1.59
Sharpe Ratio (All Time) Calculated using the full available price history	-0.84	0.45	-1.29

Drawdowns

SPXU vs. PLGIX - Drawdown Comparison

The maximum SPXU drawdown since its inception was -99.99%, which is greater than PLGIX's maximum drawdown of -55.43%. Use the drawdown chart below to compare losses from any high point for SPXU and PLGIX.

Drawdown Indicators

	SPXU	PLGIX	Difference
Max Drawdown Largest peak-to-trough decline	-99.99%	-55.43%	-44.56%
Max Drawdown (1Y) Largest decline over 1 year	-50.82%	-18.32%	-32.50%
Max Drawdown (3Y) Largest decline over 3 years	-84.36%	-21.39%	-62.97%
Max Drawdown (5Y) Largest decline over 5 years	-90.23%	-40.63%	-49.60%
Max Drawdown (10Y) Largest decline over 10 years	-99.63%	-40.63%	-59.00%
Current Drawdown Current decline from peak	-99.99%	-0.29%	-99.70%
Average Drawdown Average peak-to-trough decline	-93.33%	-13.26%	-80.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.06%	5.90%	+24.16%

Volatility

SPXU vs. PLGIX - Volatility Comparison

ProShares UltraPro Short S&P500 (SPXU) has a higher volatility of 8.58% compared to Principal LargeCap Growth Fund I (PLGIX) at 3.61%. This indicates that SPXU's price experiences larger fluctuations and is considered to be riskier than PLGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXU	PLGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.58%	3.61%	+4.97%
Volatility (6M) Calculated over the trailing 6-month period	26.85%	12.06%	+14.79%
Volatility (1Y) Calculated over the trailing 1-year period	35.37%	15.25%	+20.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.33%	30.12%	+20.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.38%	25.44%	+27.94%

SPXU vs. PLGIX - Expense Ratio Comparison

SPXU has a 0.93% expense ratio, which is higher than PLGIX's 0.67% expense ratio.

Dividends

SPXU vs. PLGIX - Dividend Comparison

SPXU's dividend yield for the trailing twelve months is around 7.89%, less than PLGIX's 13.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLGIX Principal LargeCap Growth Fund I	13.62%	14.45%	63.77%	5.99%	11.57%	11.34%	7.03%	8.01%	16.41%	7.05%	4.64%	12.51%
SPXU ProShares UltraPro Short S&P500	7.89%	7.02%	9.53%	7.06%	0.39%	0.00%	0.70%	2.14%	1.41%	0.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPXU and PLGIX in my portfolio?

SPXU and PLGIX have a correlation of -0.91, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPXU or PLGIX?

SPXU has higher volatility (8.58%) compared to PLGIX (3.61%). In terms of maximum drawdown, SPXU dropped -99.99% vs PLGIX's -55.43%.

Which has better risk-adjusted returns?

PLGIX currently has the higher Sharpe Ratio (1.06 vs -1.39), 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.