PY vs FCAL

Comparison between PRINCIPAL VALUE ETF (PY, ETF) and FIRST TRUST CALIFORNIA MUNICIPAL HIGH INCOME ETF (FCAL, ETF).

5-Year PerformancePY has outperformed FCAL, delivering a return of +7.5% compared to +0.6%

PY vs FCAL - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PY(ETF)	FCAL(ETF)
Net Assets	$220M	$220M
Expense Ratio	0.15%	0.49%
Max Drawdown	45.51%	16.86%
Sharpe Ratio	0.99	1.13
5Y Beta	0.77	-0.00
P/E Ratio	19.65	N/A
Forward P/E	15.32	N/A
PEG Ratio	0.51	N/A
5Y Dividends CAGR	2.26%	7.56%
5Y EPS CAGR	12.97%	N/A
Debt to Equity	-4.33%	N/A
P/S Ratio	1.70	N/A
P/B Ratio	3.21	N/A

Net Assets

Winner

$220M

FCAL

$220M

Expense Ratio

Winner

0.15%

FCAL

0.49%

Max Drawdown

45.51%

Winner

FCAL

16.86%

Sharpe Ratio

0.99

Winner

FCAL

1.13

5Y Beta

0.77

Winner

FCAL

-0.00

P/E Ratio

19.65

FCAL

N/A

Forward P/E

15.32

FCAL

N/A

PEG Ratio

0.51

FCAL

N/A

5Y Dividends CAGR

2.26%

Winner

FCAL

7.56%

5Y EPS CAGR

12.97%

FCAL

N/A

Debt to Equity

-4.33%

FCAL

N/A

P/S Ratio

1.70

FCAL

N/A

P/B Ratio

3.21

FCAL

N/A

PY vs FCAL - Historical Returns

Returns include dividend reinvestment.

Period	PY	FCAL
1 month	+2.09%	+0.56%
3 months	+6.57%	+1.44%
6 months	+3.78%	+2.24%
1 year	+14.08%	+6.68%
5 years(CAGR)	+7.46%	+0.59%
10 years(CAGR)	+10.98%	+2.59%
Max(CAGR)	+10.70%	+2.59%

Winner

+2.09%

FCAL

+0.56%

Winner

+6.57%

FCAL

+1.44%

Winner

+3.78%

FCAL

+2.24%

Winner

+14.08%

FCAL

+6.68%

5Y(CAGR)

Winner

+7.46%

FCAL

+0.59%

10Y(CAGR)

Winner

+10.98%

FCAL

+2.59%

Max(CAGR)

Winner

+10.70%

FCAL

+2.59%

PY vs FCAL - Annual Returns (2016 - 2026)

Returns include dividend reinvestment.

Year	PY	FCAL
2026	+4.78%	+1.76%
2025	+8.05%	+3.05%
2024	+16.72%	+1.84%
2023	+9.40%	+6.19%
2022	-5.17%	-9.40%
2021	+34.81%	+3.02%
2020	+2.72%	+3.39%
2019	+25.50%	+9.63%
2018	-12.94%	+1.01%
2017	+19.10%	+4.40%
2016	+14.28%	N/A

PY vs FCAL Drawdown Comparison

The maximum drawdown for PY was -45.44%, occurring on Mar 23, 2020. Recovery took 223 trading sessions.

The maximum drawdown for FCAL was -14.81%, occurring on Mar 20, 2020. Recovery took 204 trading sessions.

The current PY drawdown is -0.23%. The current FCAL drawdown is -0.32%.

Rank	PY	FCAL
#1	-45.44% Jan 17, 2020 - Dec 4, 2020	-14.81% Feb 28, 2020 - Dec 17, 2020
#2	-20.71% Jan 26, 2018 - Nov 5, 2019	-14.44% Jul 20, 2021 - Nov 11, 2025
#3	-17.83% Nov 29, 2024 - Aug 22, 2025	-2.96% Dec 29, 2017 - Dec 21, 2018
#4	-17.72% Jan 14, 2022 - Dec 14, 2023	-2.57% Feb 27, 2026 - Mar 27, 2026
#5	-6.92% May 10, 2021 - Aug 27, 2021	-2.28% Feb 12, 2021 - May 6, 2021
#6	-6.46% Nov 12, 2021 - Dec 27, 2021	-1.27% Aug 28, 2019 - Oct 8, 2019
#7	-6.20% Feb 6, 2026 - Apr 30, 2026	-1.10% Oct 9, 2019 - Dec 27, 2019
#8	-6.10% Jul 16, 2024 - Aug 23, 2024	-1.03% Dec 7, 2017 - Dec 28, 2017
#9	-5.67% Mar 28, 2024 - Jul 11, 2024	-0.88% Aug 15, 2017 - Sep 12, 2017
#10	-5.34% Sep 2, 2021 - Oct 15, 2021	-0.71% Apr 15, 2019 - Apr 30, 2019
#11	-4.61% Mar 1, 2017 - Jul 3, 2017	-0.71% Sep 12, 2017 - Oct 19, 2017
#12	-4.47% Oct 27, 2025 - Dec 10, 2025	-0.65% Dec 28, 2018 - Jan 31, 2019
#13	-4.46% Feb 24, 2021 - Mar 8, 2021	-0.64% Nov 20, 2017 - Dec 5, 2017
#14	-4.32% Aug 23, 2016 - Nov 10, 2016	-0.58% Dec 21, 2018 - Dec 28, 2018
#15	-4.26% Apr 19, 2016 - Jun 6, 2016	-0.57% Mar 29, 2019 - Apr 15, 2019

Correlation

Correlation between PY and FCAL is 0.75 which considered as a strong positive correlation - the stocks tend to move together.

0.75

-101

Dividend Comparison (2016 - 2026)

PY vs FCAL dividend yield comparison.

Year	PY	FCAL
2026	0.40%	1.43%
2025	2.14%	3.22%
2024	2.22%	2.99%
2023	2.68%	2.74%
2022	3.02%	2.38%
2021	2.83%	2.03%
2020	2.95%	2.11%
2019	2.25%	2.68%
2018	2.34%	2.99%
2017	1.69%	1.30%
2016	1.85%	0.00%