USMC vs. PLSAX

Last updated Jun 24, 2026

USMC (Principal U.S. Mega-Cap ETF) and PLSAX (Principal LargeCap S&P 500 Index Fund Class A) are both funds - USMC is a Large Cap Growth Equities fund tracking the Nasdaq US Mega Cap Select Leaders Index, while PLSAX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, USMC returned 14.61%/yr vs 13.50%/yr for PLSAX. Their correlation of 0.92 suggests significant overlap in exposure. USMC charges 0.12%/yr vs 0.38%/yr for PLSAX.

Performance

USMC vs. PLSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal U.S. Mega-Cap ETF (USMC) and Principal LargeCap S&P 500 Index Fund Class A (PLSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USMC achieves a 6.42% return, which is significantly lower than PLSAX's 9.64% return.

USMC

• 1D: -1.37%
• 1M: -0.32%
• YTD: 6.42%
• 6M: 5.31%
• 1Y: 20.33%
• 3Y*: 20.41%
• 5Y*: 14.61%
• 10Y*: —

PLSAX

• 1D: -0.37%
• 1M: 0.06%
• YTD: 9.64%
• 6M: 8.63%
• 1Y: 25.16%
• 3Y*: 21.58%
• 5Y*: 13.50%
• 10Y*: 15.48%

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

USMC vs. PLSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USMC Principal U.S. Mega-Cap ETF	6.42%	14.99%	29.82%	31.57%	-17.17%	26.30%	16.05%	27.37%	-2.30%	5.48%
PLSAX Principal LargeCap S&P 500 Index Fund Class A	9.64%	17.50%	26.46%	25.70%	-18.41%	27.93%	17.85%	30.97%	-4.93%	4.97%

Correlation

The correlation between USMC and PLSAX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 12, 2017	0.92

The correlation between USMC and PLSAX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

USMC vs. PLSAX — Risk / Return Rank

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

USMC

USMC Risk / Return Rank: 47
USMC Sharpe Ratio Rank: 50
USMC Sortino Ratio Rank: 50
USMC Omega Ratio Rank: 48
USMC Calmar Ratio Rank: 42
USMC Martin Ratio Rank: 47

PLSAX

PLSAX Risk / Return Rank: 63
PLSAX Sharpe Ratio Rank: 62
PLSAX Sortino Ratio Rank: 56
PLSAX Omega Ratio Rank: 58
PLSAX Calmar Ratio Rank: 65
PLSAX Martin Ratio Rank: 76

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.

USMC vs. PLSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal U.S. Mega-Cap ETF (USMC) and Principal LargeCap S&P 500 Index Fund Class A (PLSAX). 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.

	USMC	PLSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.12	-0.46
Sortino ratio: Return per unit of downside risk	2.35	2.88	-0.52
Omega ratio: Gain probability vs. loss probability	1.29	1.39	-0.09
Calmar ratio: Return relative to maximum drawdown	1.98	2.96	-0.98
Martin ratio: Return relative to average drawdown	7.47	13.35	-5.87

USMC vs. PLSAX - Sharpe Ratio Comparison

The current USMC Sharpe Ratio is 1.66, which is comparable to the PLSAX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of USMC and PLSAX, 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

USMC vs. PLSAX - Drawdown Comparison

The maximum USMC drawdown since its inception was -29.97%, smaller than the maximum PLSAX drawdown of -55.67%. Use the drawdown chart below to compare losses from any high point for USMC and PLSAX.

Drawdown Indicators

	USMC	PLSAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.97%	-55.67%	+25.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.30%	-8.94%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-19.12%	-18.78%	-0.34%
Max Drawdown (5Y) Largest decline over 5 years	-24.09%	-24.69%	+0.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	-2.46%	-1.74%	-0.72%
Average Drawdown Average peak-to-trough decline	-4.39%	-10.13%	+5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.98%	+0.75%

Volatility

USMC vs. PLSAX - Volatility Comparison

Principal U.S. Mega-Cap ETF (USMC) and Principal LargeCap S&P 500 Index Fund Class A (PLSAX) have volatilities of 4.43% and 4.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USMC	PLSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	4.65%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	9.43%	9.82%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	12.32%	12.48%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	17.00%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.25%	17.55%	+0.70%

USMC vs. PLSAX - Expense Ratio Comparison

USMC has a 0.12% expense ratio, which is lower than PLSAX's 0.38% expense ratio.

Dividends

USMC vs. PLSAX - Dividend Comparison

USMC's dividend yield for the trailing twelve months is around 0.76%, less than PLSAX's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PLSAX Principal LargeCap S&P 500 Index Fund Class A	2.51%	2.75%	4.07%	3.90%	2.70%	13.38%	7.35%	3.57%	7.19%	6.72%	2.93%	2.36%
USMC Principal U.S. Mega-Cap ETF	0.76%	0.79%	1.04%	1.35%	1.78%	1.53%	1.55%	2.01%	2.28%	0.24%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USMC and PLSAX in my portfolio?

With a correlation of 0.92, USMC and PLSAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, USMC or PLSAX?

PLSAX has higher volatility (4.65%) compared to USMC (4.43%). In terms of maximum drawdown, USMC dropped -29.97% vs PLSAX's -55.67%.

Which has better risk-adjusted returns?

PLSAX currently has the higher Sharpe Ratio (2.12 vs 1.66), 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.