YLD vs. LCAP

Last updated Jun 21, 2026

YLD (Principal Active High Yield ETF) and LCAP (Principal Capital Appreciation Select ETF) are both exchange-traded funds - YLD is a High Yield Bonds fund actively managed by Principal, while LCAP is a Large Cap Blend Equities fund actively managed by Principal. Both are actively managed. Over the past year, YLD returned 7.20% vs 27.51% for LCAP. A 0.62 correlation means they provide meaningful diversification when combined. YLD charges 0.39%/yr vs 0.29%/yr for LCAP.

Performance

YLD vs. LCAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Active High Yield ETF (YLD) and Principal Capital Appreciation Select ETF (LCAP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, YLD achieves a 3.32% return, which is significantly lower than LCAP's 11.85% return.

YLD

• 1D: 0.26%
• 1M: 1.00%
• YTD: 3.32%
• 6M: 3.59%
• 1Y: 7.20%
• 3Y*: 8.71%
• 5Y*: 5.07%
• 10Y*: 5.74%

LCAP

• 1D: 1.10%
• 1M: 0.98%
• YTD: 11.85%
• 6M: 12.03%
• 1Y: 27.51%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

YLD vs. LCAP - Yearly Performance Comparison

	2026 (YTD)	2025
YLD Principal Active High Yield ETF	3.32%	5.21%
LCAP Principal Capital Appreciation Select ETF	11.85%	17.53%

Correlation

The correlation between YLD and LCAP is 0.62, 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	0.62
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	0.62

The correlation between YLD and LCAP has been stable across timeframes, ranging from 0.62 to 0.62 - a consistent structural relationship.

Return for Risk

YLD vs. LCAP — Risk / Return Rank

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

YLD

YLD Risk / Return Rank: 60
YLD Sharpe Ratio Rank: 50
YLD Sortino Ratio Rank: 54
YLD Omega Ratio Rank: 51
YLD Calmar Ratio Rank: 75
YLD Martin Ratio Rank: 71

LCAP

LCAP Risk / Return Rank: 63
LCAP Sharpe Ratio Rank: 65
LCAP Sortino Ratio Rank: 64
LCAP Omega Ratio Rank: 62
LCAP Calmar Ratio Rank: 61
LCAP Martin Ratio Rank: 65

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.

YLD vs. LCAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Active High Yield ETF (YLD) and Principal Capital Appreciation Select ETF (LCAP). 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.

	YLD	LCAP	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.04	-0.37
Sortino ratio: Return per unit of downside risk	2.51	2.85	-0.34
Omega ratio: Gain probability vs. loss probability	1.31	1.36	-0.05
Calmar ratio: Return relative to maximum drawdown	3.68	2.91	+0.77
Martin ratio: Return relative to average drawdown	12.63	11.63	+1.00

YLD vs. LCAP - Sharpe Ratio Comparison

The current YLD Sharpe Ratio is 1.67, which is comparable to the LCAP Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of YLD and LCAP, 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

YLD vs. LCAP - Drawdown Comparison

The maximum YLD drawdown since its inception was -28.34%, which is greater than LCAP's maximum drawdown of -11.78%. Use the drawdown chart below to compare losses from any high point for YLD and LCAP.

Drawdown Indicators

	YLD	LCAP	Difference
Max Drawdown Largest peak-to-trough decline	-28.34%	-11.78%	-16.56%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-9.32%	+7.34%
Max Drawdown (3Y) Largest decline over 3 years	-5.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.89%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.34%	—	—
Current Drawdown Current decline from peak	-0.03%	-1.02%	+0.99%
Average Drawdown Average peak-to-trough decline	-2.69%	-1.68%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	2.33%	-1.75%

Volatility

YLD vs. LCAP - Volatility Comparison

The current volatility for Principal Active High Yield ETF (YLD) is 1.15%, while Principal Capital Appreciation Select ETF (LCAP) has a volatility of 4.61%. This indicates that YLD experiences smaller price fluctuations and is considered to be less risky than LCAP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YLD	LCAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	4.61%	-3.46%
Volatility (6M) Calculated over the trailing 6-month period	3.51%	10.83%	-7.32%
Volatility (1Y) Calculated over the trailing 1-year period	4.37%	13.30%	-8.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.39%	16.98%	-10.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.20%	16.98%	-8.78%

YLD vs. LCAP - Expense Ratio Comparison

YLD has a 0.39% expense ratio, which is higher than LCAP's 0.29% expense ratio.

Dividends

YLD vs. LCAP - Dividend Comparison

YLD's dividend yield for the trailing twelve months is around 7.24%, more than LCAP's 0.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LCAP Principal Capital Appreciation Select ETF	0.10%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
YLD Principal Active High Yield ETF	7.24%	7.33%	7.12%	6.46%	6.51%	3.92%	4.40%	4.81%	5.42%	6.28%	4.47%	2.56%

Frequently Asked Questions

Can I hold both YLD and LCAP in my portfolio?

YLD and LCAP have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YLD or LCAP?

LCAP has higher volatility (4.61%) compared to YLD (1.15%). In terms of maximum drawdown, YLD dropped -28.34% vs LCAP's -11.78%.

Which ETF is better, YLD or LCAP?

On 1-year performance, LCAP leads with 27.51% vs 7.20% for YLD. On fees, LCAP is cheaper at 0.29% per year. On volatility, YLD has been the lower-risk option at 1.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YLD or LCAP?

Over the 1-year period, LCAP has performed better with a 27.51% return vs 7.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YLD or LCAP?

LCAP is cheaper with a 0.29% expense ratio, compared with 0.39% for YLD.

Which ETF pays a higher dividend yield, YLD or LCAP?

YLD has the higher dividend yield at 7.24%, compared with 0.10% for LCAP.

What is the main difference between YLD and LCAP?

YLD is categorized as High Yield Bonds, while LCAP is Large Cap Blend Equities. Their fees differ too: 0.39% for YLD and 0.29% for LCAP.

Which has better risk-adjusted returns?

LCAP currently has the higher Sharpe Ratio (2.04 vs 1.67), 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.