HGLB vs PY
Highland Global Allocation Fund vs Principal Value ETF
Which is better, HGLB or PY?
PY has been ahead.
PY has a lower expense ratio. PY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | HGLB | PY |
|---|---|---|
| Expense Ratio | 2.67% | 0.15%Best |
| AUM | $253M | $238M |
| Dividend Yield | 9.50% | 1.92% |
| Holdings | 57 | 206 |
| YTD Return | -20.34% | +10.62%Best |
| 1Y Return | -26.42% | +12.95%Best |
| 3Y Return (annualized) | +7.12% | +15.76%Best |
| 5Y Return (annualized) | +4.05% | +8.45%Best |
| Volatility (annualized) | 31.5% | 20.5%Best |
| Max Drawdown | -74.1% | -45.4%Best |
| $10,000 over 5 years | $12,196 | $15,002Best |
| Fund Family | NexPoint | Principal Funds |
| Category | Equity | Equity |
| Style | Mid Cap Value | Mid Cap Value |
| Inception | Jan 5, 1998 | Mar 21, 2016 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Feb 19, 2019 to Oct 14, 2026 (7.6 years).
HGLB vs PY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 7.6 years both funds cover.
HGLB vs PY Performance
Highland Global Allocation Fund (HGLB) is an ETF from NexPoint and Principal Value ETF (PY) is an ETF from Principal Funds. Over the past year HGLB returned -26.42% while PY returned +12.95%. Year to date, HGLB is down 20.34% versus a gain of 10.62% for PY.
Over three years, HGLB compounded at +7.12% per year against +15.76% for PY; over five years the annualized figures are +4.05% and +8.45% respectively. Across the full 8-year window we track, PY has the edge at +9.91% annualized vs -2.54%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HGLB has been the more volatile fund, with annualized monthly volatility of 31.5% compared with 20.5% for PY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -74.1% for HGLB and -45.4% for PY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.75. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
HGLB charges 2.67% per year while PY charges 0.15%. On a $10,000 position that is $267 vs $15 annually, a gap of $252 per year that compounds over a long holding period. On income, HGLB currently yields 9.50% against 1.92% for PY.
Holdings Overlap
At least 0.8% of PY's money is in holdings HGLB also owns.
Stated as a floor: for HGLB, our book for it covers 51.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
We cannot see either book well enough to say how much of this pair is duplicated.
The two holdings books were reported 93 days apart, HGLB as of Jun 30, 2026 and PY as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 40 positions we hold weights for in HGLB and 101 in PY, against full books of 57 and 206.
Top Shared Holdings
| Stock | Weight in HGLB | Weight in PY | Difference |
|---|---|---|---|
| MASMasco Corp. | -0.56% | 0.76% | 1.32% |
You are not choosing between two funds in isolation.
Whichever of HGLB and PY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, HGLB or PY?
HGLB has an expense ratio of 2.67% while PY charges 0.15%. PY is the cheaper option, by $252 a year on a $10,000 investment.
Which performed better, HGLB or PY?
Over the past year HGLB returned -26.42% vs +12.95% for PY, so PY leads on 1-year performance. Over the longest common window we track (8 years), HGLB annualized -2.54% vs +9.91% for PY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HGLB or PY?
HGLB has been the more volatile fund at 31.5% annualized versus 20.5% for PY. Worst drawdown: HGLB -74.1% vs PY -45.4%.
Should I hold both HGLB and PY?
HGLB and PY have a monthly-return correlation of 0.75, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, HGLB or PY?
HGLB yields 9.50% while PY yields 1.92%, so HGLB currently pays the higher dividend yield.
Is PY better than HGLB?
PY has a lower expense ratio. PY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.