The Securities and Exchange
Commission and the Commodity Futures Trading Commission have not approved
or disapproved these securities or passed upon the adequacy of this
prospectus. Any representation to the contrary is a criminal
offense. |
Ticker
Symbols by Share Class | ||||||||||
Fund |
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 |
California
Municipal |
SRCMX |
SRCCX |
PCMFX |
|||||||
Core Fixed
Income |
CMPIX |
CNMCX |
PIOJX |
PIOIX |
PIOMX |
PIONX |
PIOOX |
PIOPX |
PIOQX |
PICNX |
Core Plus
Bond |
PRBDX |
PBMJX |
PMSIX |
PBOMX |
PBMNX |
PBMMX |
PBMSX |
PBMPX |
||
Diversified
International |
PRWLX |
PDNCX |
PIIJX |
PIIIX |
PDVIX |
PINNX |
PINRX |
PINLX |
PINPX |
PDIFX |
Equity Income |
PQIAX |
PEUCX |
PEIJX |
PEIIX |
PIEMX |
PEINX |
PEIOX |
PEIPX |
PEIQX |
|
Finisterre Unconstrained
Emerging Markets Bond |
PFUEX |
PFUMX |
||||||||
Global Diversified
Income |
PGBAX |
PGDCX |
PGDIX |
PGBLX | ||||||
Global Real Estate
Securities |
POSAX |
POSCX |
POSIX |
PGRKX |
PGRVX |
PGRUX |
PGRSX | |||
Government & High Quality
Bond |
CMPGX |
CCUGX |
PMRJX |
PMRIX |
PMGRX |
PFMRX |
PRCMX |
PMRDX |
PMREX |
|
Government Money
Market |
PGVXX |
|||||||||
High Income |
PYHAX |
PYHIX |
||||||||
High Yield |
CPHYX |
CCHIX |
PHYTX |
PHYFX | ||||||
Inflation
Protection |
PITAX |
|
PIPJX |
PIPIX |
PISPX |
PBSAX |
PIFPX |
PIFSX |
PBPPX |
|
International Emerging
Markets |
PRIAX |
PMKCX |
PIEJX |
PIEIX |
PIXEX |
PEASX |
PEAPX |
PESSX |
PEPSX |
PIIMX |
International
I |
PFAFX |
PINIX |
PPISX |
PSPPX |
PRPPX |
PUPPX |
PTPPX |
PIIDX | ||
LargeCap Growth
I |
PLGAX |
PLGJX |
PLGIX |
PCRSX |
PPUNX |
PPUMX |
PPUSX |
PPUPX |
PLCGX | |
LargeCap S&P 500
Index |
PLSAX |
PLICX |
PSPJX |
PLFIX |
PLPIX |
PLFNX |
PLFMX |
PLFSX |
PLFPX |
|
LargeCap Value
III |
PLVJX |
PLVIX |
PESAX |
PPSNX |
PPSFX |
PPSSX |
PPSRX |
|||
MidCap |
PEMGX |
PMBCX |
PMBJX |
PCBIX |
PMSBX |
PMBNX |
PMBMX |
PMBSX |
PMBPX |
PMAQX |
MidCap Growth |
PMGJX |
PGWIX |
PMSGX |
PGPPX |
PFPPX |
PIPPX |
PHPPX |
|||
MidCap Growth
III |
PPQJX |
PPIMX |
PHASX |
PPQNX |
PPQMX |
PPQSX |
PPQPX |
|||
MidCap S&P 400
Index |
PMFJX |
MPSIX |
PMSSX |
PMFNX |
PMFMX |
PMFSX |
PMFPX |
PMAPX | ||
MidCap Value
I |
PCMVX |
PVEJX |
PVMIX |
PLASX |
PABUX |
PMPRX |
PABWX |
PABVX |
PCMSX | |
Money Market |
PCSXX |
|
PMJXX |
|
||||||
Overseas |
PINZX |
PINQX |
PINSX |
PINTX |
PINUX |
PINGX |
||||
Principal Capital
Appreciation |
CMNWX |
CMNCX |
PWCIX |
PCAMX |
PCANX |
PCAOX |
PCAPX |
PCAQX |
||
Principal LifeTime Strategic
Income |
PALTX |
PLSJX |
PLSIX |
PLAIX |
PLSNX |
PLSMX |
PLSSX |
PLSPX |
||
Principal LifeTime
2010 |
PENAX |
PTAJX |
PTTIX |
PVASX |
PTANX |
PTAMX |
PTASX |
PTAPX |
||
Principal LifeTime
2015 |
LTINX |
LTSGX |
LTASX |
LTAPX |
LTSLX |
LTPFX |
||||
Principal LifeTime
2020 |
PTBAX |
PLFJX |
PLWIX |
PWASX |
PTBNX |
PTBMX |
PTBSX |
PTBPX |
||
Principal LifeTime
2025 |
LTSTX |
LTSNX |
LTADX |
LTVPX |
LTEEX |
LTPDX |
||||
Principal LifeTime
2030 |
PTCAX |
PLTJX |
PMTIX |
PXASX |
PTCNX |
PTCMX |
PTCSX |
PTCPX |
||
Principal LifeTime
2035 |
LTIUX |
LTANX |
LTVIX |
LTAOX |
LTSEX |
LTPEX |
||||
Principal LifeTime
2040 |
PTDAX |
PTDJX |
PTDIX |
PYASX |
PTDNX |
PTDMX |
PTDSX |
PTDPX |
||
Principal LifeTime
2045 |
LTRIX |
LTRGX |
LTRSX |
LTRVX |
LTRLX |
LTRDX |
||||
Principal LifeTime
2050 |
PPEAX |
PFLJX |
PPLIX |
PZASX |
PTENX |
PTERX |
PTESX |
PTEFX |
||
Principal LifeTime
2055 |
LTFIX |
LTFGX |
LTFSX |
LTFDX |
LTFLX |
LTFPX |
||||
Principal LifeTime
2060 |
PLTAX |
PLTZX |
PLTRX |
PLTBX |
PLTCX |
PLTMX |
PLTOX |
|||
Principal LifeTime
2065 |
PLJIX |
PLJAX |
PLJBX |
PLJCX |
PLJDX |
PLJEX |
Ticker
Symbols by Share Class | ||||||||||
Fund |
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 |
Principal LifeTime Hybrid
Income |
PHJFX |
PHTFX |
PHTEX |
PHTDX |
PLTYX | |||||
Principal LifeTime Hybrid
2015 |
PHJMX |
PHTMX |
PHTCX |
PHTRX |
PLRRX | |||||
Principal LifeTime Hybrid
2020 |
PHJTX |
PHTTX |
PHWIX |
PHTIX |
PLTTX | |||||
Principal LifeTime Hybrid
2025 |
PHJQX |
PHTQX |
PHTPX |
PHTOX |
PLFTX | |||||
Principal LifeTime Hybrid
2030 |
PHJNX |
PHTNX |
PHTLX |
PHTKX |
PLZTX | |||||
Principal LifeTime Hybrid
2035 |
PHJJX |
PHTJX |
PHTHX |
PHTGX |
PLRTX | |||||
Principal LifeTime Hybrid
2040 |
PHJEX |
PLTQX |
PLHBX |
PHTZX |
PLMTX | |||||
Principal LifeTime Hybrid
2045 |
PHJYX |
PHTYX |
PHTWX |
PHTVX |
PLNTX | |||||
Principal LifeTime Hybrid
2050 |
PHJUX |
PHTUX |
PHTSX |
PLRJX |
PLJTX | |||||
Principal LifeTime Hybrid
2055 |
PHJBX |
PLTNX |
PLTLX |
PLTKX |
PLHTX | |||||
Principal LifeTime Hybrid
2060 |
PHJGX |
PLTHX |
PLTEX |
PLTDX |
PLKTX | |||||
Principal LifeTime Hybrid
2065 |
PHJDX |
PLHHX |
PLTFX |
PLHKX |
PLHRX | |||||
Real Estate
Securities |
PRRAX |
PRCEX |
PREJX |
PIREX |
PRAEX |
PRENX |
PRERX |
PRETX |
PREPX |
PFRSX |
SAM Balanced |
SABPX |
SCBPX |
PSAJX |
PSBIX |
PSBGX |
PSBVX |
PBAPX |
PSBLX |
PSBFX |
|
SAM Conservative
Balanced |
SAIPX |
SCIPX |
PCBJX |
PCCIX |
PCSSX |
PCNSX |
PCBPX |
PCBLX |
PCBFX |
|
SAM Conservative
Growth |
SAGPX |
SCGPX |
PCGJX |
PCWIX |
PCGGX |
PCGVX |
PCGPX |
PCWSX |
PCWPX |
|
SAM Flexible
Income |
SAUPX |
SCUPX |
PFIJX |
PIFIX |
PFIGX |
PFIVX |
PFIPX |
PFILX |
PFIFX |
|
SAM Strategic
Growth |
SACAX |
SWHCX |
PSWJX |
PSWIX |
PSGGX |
PSGVX |
PSGPX |
PSGLX |
PSGFX |
|
Short-Term
Income |
SRHQX |
STCCX |
PSJIX |
PSHIX |
PSIMX |
PSINX |
PSIOX |
PSIPX |
PSIQX |
|
SmallCap |
PLLAX |
PSMCX |
PSBJX |
PSLIX |
PSABX |
PSBNX |
PSBMX |
PSBSX |
PSBPX |
PSMLX |
SmallCap Growth
I |
PSIJX |
PGRTX |
PNASX |
PPNNX |
PPNMX |
PPNSX |
PPNPX |
PCSMX | ||
SmallCap S&P 600
Index |
PSSJX |
PSSIX |
PSAPX |
PSSNX |
PSSMX |
PSSSX |
PSSPX |
PSPIX | ||
SmallCap Value
II |
PSVAX |
PSMJX |
PPVIX |
PCPTX |
PKARX |
PJARX |
PSTWX |
PLARX |
PSMVX | |
Tax-Exempt
Bond |
PTEAX |
PTBCX |
PITEX |
TABLE OF
CONTENTS | |
D |
Objective: |
The Fund seeks to provide as
high a level of current income that is exempt from federal and state
personal income tax as is consistent with prudent investment management
and preservation of capital. |
Share
Class | |||
A |
C |
Inst. | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
Share
Class | |||
A |
C |
Inst. | |
Management Fees |
0.45% |
0.45% |
0.45% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
Other Expenses |
|||
Interest
Expense |
0.03% |
0.03% |
0.03% |
Remainder of Other
Expenses |
0.08% |
0.17% |
0.12% |
Total Other
Expenses |
0.11% |
0.20% |
0.15% |
Total Annual
Fund Operating Expenses |
0.81% |
1.65% |
0.60% |
Expense Reimbursement
(1) |
N/A |
N/A |
(0.06)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.81% |
1.65% |
0.54% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.51% for Institutional Class shares. It is expected that the
expense limit will continue through the period ending February 28, 2021;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. Subject to applicable expense limits, the Fund may reimburse PGI
for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$455 |
$624 |
$808 |
$1,339 |
Class
C |
268 |
520 |
897 |
1,955 |
Institutional
Class |
55 |
186 |
329 |
744 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$168 |
$520 |
$897 |
$1,955 |
8.17% in securities rated
Aaa |
16.86% in securities rated
Baa |
0.00% in securities rated
Caa |
0.00% in securities rated
D |
36.12% in securities rated
Aa |
5.27% in securities rated
Ba |
0.00% in securities rated
Ca |
12.51% in securities not
rated |
19.10% in securities rated
A |
1.97% in securities rated
B |
0.00% in securities rated
C |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'11 |
5.73 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'10 |
(5.89 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
4.25% |
3.00% |
4.76% |
Class A
Return After Taxes on Distributions |
4.25% |
3.00% |
4.76% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
3.58% |
3.05% |
4.58% |
Class C
Return Before Taxes |
6.41% |
2.90% |
4.21% |
Institutional
Class Return Before Taxes |
8.61% |
4.03% |
5.28% |
Bloomberg Barclays California
Municipal Index (reflects no deduction for fees, expenses, or
taxes) |
7.68% |
3.52% |
4.85% |
• |
James Noble (since 2013),
Portfolio Manager |
• |
James Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide a
high level of current income consistent with preservation of
capital. |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
2.25% |
None |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.15% |
0.23% |
0.17% |
0.12% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
—% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
0.89% |
1.72% |
0.81% |
0.61% |
1.37% |
1.24% |
1.06% |
0.87% |
0.75% |
0.49% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
(0.02)% |
N/A |
N/A |
N/A |
N/A |
N/A |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.89% |
1.72% |
0.81% |
0.59% |
1.37% |
1.24% |
1.06% |
0.87% |
0.75% |
0.49% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.58% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.01%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$314 |
$502 |
$707 |
$1,296 |
Class
C |
275 |
542 |
933 |
2,030 |
Class
J |
183 |
259 |
450 |
1,002 |
Institutional
Class |
60 |
193 |
338 |
760 |
Class
R-1 |
139 |
434 |
750 |
1,646 |
Class
R-2 |
126 |
393 |
681 |
1,500 |
Class
R-3 |
108 |
337 |
585 |
1,294 |
Class
R-4 |
89 |
278 |
482 |
1,073 |
Class
R-5 |
77 |
240 |
417 |
930 |
Class
R-6 |
50 |
157 |
274 |
616 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$175 |
$542 |
$933 |
$2,030 |
Class
J |
83 |
259 |
450 |
1,002 |
38.63% in securities rated
Aaa |
27.15% in securities rated
Baa |
1.08% in securities rated
Caa |
0.04% in securities rated
D |
3.55% in securities rated
Aa |
2.87% in securities rated
Ba |
0.04% in securities rated
Ca |
0.50% in securities not
rated |
23.28% in securities rated
A |
2.86% in securities rated
B |
0.00% in securities rated
C |
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
3.62 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q2
'13 |
(2.56 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
6.21% |
2.73% |
4.08% |
Class A
Return After Taxes on Distributions |
5.02% |
1.43% |
2.58% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
3.66% |
1.50% |
2.51% |
Class C
Return Before Taxes |
6.78% |
2.36% |
3.49% |
Class J
Return Before Taxes |
7.73% |
3.29% |
4.30% |
Institutional
Class Return Before Taxes |
9.04% |
3.55% |
4.69% |
Class R-1
Return Before Taxes |
8.08% |
2.70% |
3.81% |
Class R-2
Return Before Taxes |
8.21% |
2.83% |
3.95% |
Class R-3
Return Before Taxes |
8.51% |
3.01% |
4.15% |
Class R-4
Return Before Taxes |
8.61% |
3.21% |
4.34% |
Class R-5
Return Before Taxes |
8.76% |
3.32% |
4.44% |
Class R-6
Return Before Taxes |
9.04% |
3.57% |
4.51% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
8.72% |
3.05% |
3.75% |
• |
John R. Friedl (since 2005),
Portfolio Manager |
• |
Scott J. Peterson (since
2010), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide
current income and, as a secondary objective, capital
appreciation. |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share Class
| ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.31% |
0.31% |
0.01% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
1.08% |
0.98% |
0.53% |
1.40% |
1.27% |
1.09% |
0.90% |
0.78% |
Fee Waiver and Expense
Reimbursement (1)(2) |
(0.19)% |
(0.06)% |
(0.06)% |
(0.06)% |
(0.06)% |
(0.06)% |
(0.06)% |
(0.06)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
0.89% |
0.92% |
0.47% |
1.34% |
1.21% |
1.03% |
0.84% |
0.72% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's Management Fees through the period ending
February 28, 2021. The fee waiver will reduce the Fund's Management Fees
by 0.06% (expressed as a percent of average net assets on an annualized
basis). It is expected that the fee waiver will continue through the
period disclosed; however, Principal Funds, Inc. and PGI, the parties to
the agreement may mutually agree to terminate the fee waiver prior to the
end of the period. | ||||||||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.88% for Class A shares and 0.56% for Institutional Class
shares. It is expected that the expense limits will continue through the
period ending February 28, 2021; however, Principal Funds, Inc. and PGI,
the parties to the agreement, may mutually agree to terminate the expense
limits prior to the end of the period. Subject to applicable expense
limits, the Fund may reimburse PGI for expenses incurred during the
current fiscal year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$462 |
$687 |
$930 |
$1,626 |
Class
J |
194 |
306 |
536 |
1,196 |
Institutional
Class |
48 |
164 |
290 |
659 |
Class
R-1 |
136 |
437 |
760 |
1,675 |
Class
R-2 |
123 |
397 |
691 |
1,529 |
Class
R-3 |
105 |
341 |
595 |
1,323 |
Class
R-4 |
86 |
281 |
493 |
1,102 |
Class
R-5 |
74 |
243 |
427 |
960 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
94 |
306 |
536 |
1,196 |
55.08% in securities rated
Aaa |
17.29% in securities rated
Baa |
0.60% in securities rated
Caa |
0.00% in securities rated
D |
3.74% in securities rated
Aa |
5.77% in securities rated
Ba |
0.02% in securities rated
Ca |
1.91% in securities not
rated |
11.68% in securities rated
A |
3.90% in securities rated
B |
0.01% in securities rated
C |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Currency
Contracts.
Derivatives related to currency
contracts involve the specific risk of government action through exchange
controls that would restrict the ability of the fund to deliver or receive
currency.
|
• |
Futures and
Swaps.
These derivative instruments
involve specific risks, including: the imperfect correlation between the
change in market value of the instruments held by the fund and the price
of the instruments; possible lack of a liquid secondary market for an
instrument and the resulting inability to close it when desired;
counterparty risk; and if the fund has insufficient cash, it may have to
sell securities from its portfolio to meet any applicable daily variation
margin requirements.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'10 |
3.83 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'16 |
(2.58 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
5.30% |
2.08% |
3.73% |
Class A
Return After Taxes on Distributions |
3.89% |
0.97% |
2.63% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
3.13% |
1.09% |
2.43% |
Class J
Return Before Taxes |
8.46% |
2.90% |
4.13% |
Institutional
Class Return Before Taxes |
9.87% |
3.27% |
4.54% |
Class R-1
Return Before Taxes |
8.94% |
2.38% |
3.64% |
Class R-2
Return Before Taxes |
8.99% |
2.51% |
3.77% |
Class R-3
Return Before Taxes |
9.24% |
2.70% |
3.96% |
Class R-4
Return Before Taxes |
9.44% |
2.89% |
4.15% |
Class R-5
Return Before Taxes |
9.67% |
3.03% |
4.29% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
8.72% |
3.05% |
3.75% |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees (1) |
0.71% |
0.71% |
0.71% |
0.71% |
0.71% |
0.71% |
0.71% |
0.71% |
0.71% |
0.71% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.29% |
0.50% |
0.31% |
0.03% |
0.55% |
0.47% |
0.34% |
0.30% |
0.28% |
0.02% |
Total Annual
Fund Operating Expenses |
1.25% |
2.21% |
1.17% |
0.74% |
1.61% |
1.48% |
1.30% |
1.11% |
0.99% |
0.73% |
Expense
Reimbursement (2) |
N/A |
(0.23)% |
N/A |
—% |
N/A |
N/A |
N/A |
N/A |
N/A |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.25% |
1.98% |
1.17% |
0.74% |
1.61% |
1.48% |
1.30% |
1.11% |
0.99% |
0.73% |
(1) Fees
have been restated to reflect current fees. | ||||||||||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 1.98% for Class C and 0.85% for Institutional Class shares. In
addition, for Class R-6, the expense limit will maintain "Other Expenses"
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.04%, (excluding interest expense, expenses related to fund
investments, acquired fund fees and expenses, and other extraordinary
expenses). It is expected that the expense limits will continue through
the period ending February 28, 2021; however, Principal Funds, Inc. and
PGI, the parties to the agreement, may mutually agree to terminate the
expense limits prior to the end of the period. Subject to applicable
expense limits, the Fund may reimburse PGI for expenses incurred during
the current fiscal year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$670 |
$925 |
$1,199 |
$1,978 |
Class
C |
301 |
669 |
1,164 |
2,526 |
Class
J |
219 |
372 |
644 |
1,420 |
Institutional
Class |
76 |
237 |
411 |
918 |
Class
R-1 |
164 |
508 |
876 |
1,911 |
Class
R-2 |
151 |
468 |
808 |
1,768 |
Class
R-3 |
132 |
412 |
713 |
1,568 |
Class
R-4 |
113 |
353 |
612 |
1,352 |
Class
R-5 |
101 |
315 |
547 |
1,213 |
Class
R-6 |
75 |
233 |
406 |
906 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$201 |
$669 |
$1,164 |
$2,526 |
Class
J |
119 |
372 |
644 |
1,420 |
• |
Growth
Style Risk. Growth investing
entails the risk that if growth companies do not increase their earnings
at a rate expected by investors, the market price of their stock may
decline significantly, even if earnings show an absolute increase. Growth
company stocks also typically lack the dividend yield that can lessen
price declines in market downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk. Value investing entails the
risk that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
17.38 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(19.28 |
)% |
Average
Annual Total Returns |
||||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years | |
Class A
Return Before Taxes |
15.61% |
3.79% |
4.86% |
|
Class A
Return After Taxes on Distributions |
15.29% |
3.41% |
4.65% |
|
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
9.76% |
3.06% |
4.03% |
|
Class C
Return Before Taxes |
20.52% |
4.22% |
4.73% |
|
Class J
Return Before Taxes |
21.50% |
5.14% |
5.56% |
|
Institutional
Class Return Before Taxes |
22.93% |
5.49% |
6.00% |
|
Class R-1
Return Before Taxes |
21.92% |
4.58% |
5.08% |
|
Class R-2
Return Before Taxes |
22.08% |
4.72% |
5.21% |
|
Class R-3
Return Before Taxes |
22.25% |
4.91% |
5.40% |
|
Class R-4
Return Before Taxes |
22.53% |
5.10% |
5.61% |
|
Class R-5
Return Before Taxes |
22.67% |
5.23% |
5.83% |
(1) |
Class R-6
Return Before Taxes |
22.88% |
5.02% |
5.46% |
|
MSCI ACWI Ex-U.S. Index NTR
(reflects withholding taxes on foreign dividends, but no deduction for
fees, expenses, or other taxes) |
21.53% |
5.51% |
4.97% |
(1)
|
During 2010, Class R-5
experienced a significant one-time gain of approximately $0.08/share as
the result of a settlement in an SEC administrative proceeding. If such
gain had not been recognized, the total return amounts expressed herein
would have been lower. |
• |
Paul H. Blankenhagen (since
2003), Portfolio Manager |
• |
Juliet Cohn (since 2004),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide
current income and long-term growth of income and
capital. |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.15% |
0.14% |
0.27% |
0.02% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Total Annual
Fund Operating Expenses |
0.91% |
1.65% |
0.93% |
0.53% |
1.39% |
1.26% |
1.08% |
0.89% |
0.77% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
(0.01)% |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.91% |
1.65% |
0.93% |
0.52% |
1.39% |
1.26% |
1.08% |
0.89% |
0.77% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.52% for Institutional Class shares. It is expected that the
expense limit will continue through the period ending February 28, 2021;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. Subject to applicable expense limits, the Fund may reimburse PGI
for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$638 |
$824 |
$1,026 |
$1,608 |
Class
C |
268 |
520 |
897 |
1,955 |
Class
J |
195 |
296 |
515 |
1,143 |
Institutional
Class |
53 |
169 |
295 |
664 |
Class
R-1 |
142 |
440 |
761 |
1,669 |
Class
R-2 |
128 |
400 |
692 |
1,523 |
Class
R-3 |
110 |
343 |
595 |
1,317 |
Class
R-4 |
91 |
284 |
493 |
1,096 |
Class
R-5 |
79 |
246 |
428 |
954 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$168 |
$520 |
$897 |
$1,955 |
Class
J |
95 |
296 |
515 |
1,143 |
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'11 |
12.34 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(12.08 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
21.38% |
8.82% |
11.49% |
Class A
Return After Taxes on Distributions |
20.14% |
7.59% |
10.63% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
13.49% |
6.73% |
9.38% |
Class C
Return Before Taxes |
26.46% |
9.24% |
11.30% |
Class J
Return Before Taxes |
27.45% |
10.07% |
12.13% |
Institutional
Class Return Before Taxes |
28.95% |
10.48% |
12.58% |
Class R-1
Return Before Taxes |
27.83% |
9.52% |
11.60% |
Class R-2
Return Before Taxes |
27.95% |
9.66% |
11.75% |
Class R-3
Return Before Taxes |
28.21% |
9.86% |
11.94% |
Class R-4
Return Before Taxes |
28.48% |
10.07% |
12.16% |
Class R-5
Return Before Taxes |
28.65% |
10.21% |
12.30% |
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
26.56% |
8.29% |
11.80% |
• |
Daniel R. Coleman (since
2010), Portfolio Manager |
• |
David W. Simpson (since 2008),
Portfolio Manager |
• |
Nedret Vidinli (since 2017),
Associate Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Share
Class | ||
A |
Inst. | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
Share
Class | ||
A |
Inst. | |
Management Fees (1) |
0.75% |
0.75% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
N/A |
Other Expenses |
2.32% |
0.15% |
Total Annual
Fund Operating Expenses |
3.32% |
0.90% |
Expense Reimbursement
(2) |
(2.12)% |
(0.05)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
1.20% |
0.85% |
(1) Fees
have been restated to reflect current fees. | ||
(2)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 1.20% for Class A and 0.85% for Institutional Class shares. It
is expected that the expense limits will continue through the period
ending February 28, 2021; however, Principal Funds, Inc. and PGI, the
parties to the agreement, may mutually agree to terminate the expense
limits prior to the end of the period. Subject to applicable expense
limits, the Fund may reimburse PGI for expenses incurred during the
current fiscal year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$493 |
$1,167 |
$1,865 |
$3,713 |
Institutional
Class |
87 |
282 |
494 |
1,103 |
6.76% in securities rated
Aaa |
27.44% in securities rated
Baa |
0.52% in securities rated
Caa |
0.00% in securities rated
D |
5.35% in securities rated
Aa |
17.51% in securities rated
Ba |
0.00% in securities rated
Ca |
9.35% in securities not
rated |
12.25% in securities rated
A |
20.82% in securities rated
B |
0.00% in securities rated
C |
• |
Currency
Contracts. Derivatives related to
currency contracts involve the specific risk of government action through
exchange controls that would restrict the ability of the fund to deliver
or receive currency.
|
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Frontier
Markets Risk. Frontier market countries are
emerging market countries, but generally have small economies or less
mature capital markets than more developed emerging markets, and, as a
result, the risks of investing in emerging market countries are magnified
in frontier countries. The markets of frontier countries typically have
low trading volumes and the potential for extreme price volatility and
illiquidity. |
• |
Defensive
Strategy Risk. Because emerging market debt
markets are particularly susceptible to adverse market, economic,
political, and other conditions, the Fund is more prone to take a
defensive position and invest a significant portion of its assets in cash
and cash equivalents in response to abnormal market conditions. In taking
a large cash position, the Fund’s performance may be adversely affected as
the Fund may not be able to benefit from an upswing in the market.
Further, the Fund may be unable to pursue or achieve its investment
objective when employing such a defensive strategy.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
4.93 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q2
'18 |
(1.87 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2019 |
1
Year |
Life of
Fund |
Class A
Return Before Taxes |
10.17% |
5.71% |
Class A
Return After Taxes on Distributions |
7.94% |
3.34% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
6.03% |
3.31% |
Institutional
Class Return Before Taxes |
14.75% |
7.25% |
JPM CEMBI Broad Diversified
Index (reflects no deduction for fees, expenses, or taxes) |
13.10% |
5.58% |
JPM EMBI Global Diversified
Index (reflects no deduction for fees, expenses, or taxes) |
15.05% |
5.10% |
JPM GBI-EM Global Diversified
Index (reflects no deduction for fees, expenses, or taxes) |
13.48% |
4.76% |
Finisterre Unconstrained
Emerging Markets Bond Blended Index (reflects no deduction for fees,
expenses, or taxes) |
13.94% |
5.22% |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A |
Initial
Investment |
$1,000(1) |
A |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A |
Subsequent
Investments |
$100(1)(2) |
Institutional |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks
income. |
Share
Class | ||||
A |
C |
Inst. |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
Share
Class | ||||
A |
C |
Inst. |
R-6 | |
Management Fees |
0.72% |
0.72% |
0.72% |
0.72% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
N/A |
Other Expenses |
0.12% |
0.13% |
0.12% |
0.02% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
1.10% |
1.86% |
0.85% |
0.75% |
Fee Waiver and Expense
Reimbursement (1)
(2) |
(0.08)% |
(0.08)% |
(0.16)% |
(0.08)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
1.02% |
1.78% |
0.69% |
0.67% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's Management Fees through the period ending
February 28, 2021. The fee waiver will reduce the Fund's Management Fees
by 0.08% (expressed as a percent of average net assets on an annualized
basis). It is expected that the fee waiver will continue through the
period disclosed; however, Principal Funds, Inc. and PGI, the parties to
the agreement may mutually agree to terminate the fee waiver prior to the
end of the period. | ||||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.68% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$475 |
$704 |
$951 |
$1,658 |
Class
C |
281 |
577 |
998 |
2,173 |
Institutional
Class |
70 |
255 |
456 |
1,034 |
Class
R-6 |
68 |
232 |
409 |
923 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$181 |
$577 |
$998 |
$2,173 |
• |
Investment grade corporate
securities, which are rated at the time of purchase Baa3 or higher by
Moody’s Investors Service (“Moody’s”) or BBB- or higher by S&P Global
Ratings (“S&P Global”). |
• |
High yield and other
income-producing securities, including bank loans and corporate bonds.
"High yield" securities are below investment grade securities (sometimes
called "junk") which are rated at the time of purchase Ba1 or lower by
Moody's and BB+ or lower by S&P Global. These securities offer a
higher yield than other, higher rated securities, but they carry a greater
degree of risk and are considered speculative with respect to the issuer's
ability to pay interest and to repay principal. This portion of the Fund
also invests in currency forwards and currency options to hedge currency
risk. |
• |
Preferred securities, focusing
primarily on the financial services, real estate investment trust
("REIT"), and utility industries. |
• |
Diversified portfolio of fixed
income securities, including those issued by governments and their
agencies and corporate entities in emerging markets. This portion of the
Fund also invests in interest rate swaps or Treasury futures to manage
fixed income exposure; credit default swaps to increase or decrease in an
efficient manner exposures to certain sectors or individual issuers; total
return swaps to increase or decrease in an efficient manner exposures to
certain sectors; and currency forwards and currency options to hedge
currency risk and express views on the direction of
currency. |
• |
Equity securities of global
real estate companies. A real estate company has at least 50% of its
assets, income or profits derived from products or services related to the
real estate industry and include REITs, REIT-like entities, and companies
with substantial real estate holdings such as paper, lumber, hotel and
entertainment companies as well as building supply manufacturers, mortgage
lenders, and mortgage servicing
companies. |
• |
Commercial mortgage-backed
securities, which are bonds secured by first mortgages on commercial real
estate. |
• |
Diversified portfolio of value
equity securities, which emphasizes buying equity securities that appear
to be undervalued. The Fund invests in equity securities regardless of
market capitalization (small, medium or large).
|
• |
Securities issued by
publicly-listed infrastructure companies, such as public utility, energy,
and transportation companies. |
3.91% in securities rated
Aaa |
15.78% in securities rated
Baa |
14.17% in securities rated
Caa |
0.18% in securities rated
D |
1.53% in securities rated
Aa |
18.19% in securities rated
Ba |
0.57% in securities rated
Ca |
19.72% in securities not
rated |
4.75% in securities rated
A |
20.83% in securities rated
B |
0.37% in securities rated
C |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Currency
Contracts.
Derivatives related to currency
contracts involve the specific risk of government action through exchange
controls that would restrict the ability of the fund to deliver or receive
currency.
|
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Smaller
Companies Risk. Investments in
smaller companies may involve greater risk and price volatility than
investments in larger, more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
9.14 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(8.15 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
9.15% |
3.80% |
6.52% |
Class A
Return After Taxes on Distributions |
7.16% |
1.89% |
4.49% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
5.51% |
2.10% |
4.31% |
Class C
Return Before Taxes |
11.53% |
3.80% |
6.12% |
Institutional
Class Return Before Taxes |
13.77% |
4.92% |
7.24% |
Class R-6
Return Before Taxes |
13.80% |
4.91% |
7.23% |
Bloomberg Barclays U.S.
Corporate High Yield 2% Issuer Capped Index (reflects no deduction for
fees, expenses, or taxes) |
14.33% |
6.14% |
7.55% |
Bloomberg Barclays Global
Aggregate Index (reflects no deduction for fees, expenses, or
taxes) |
6.84% |
2.31% |
2.48% |
MSCI World Value Index NTR
(reflects withholding taxes on foreign dividends, but no deduction for
fees, expenses, or other taxes) |
21.76% |
6.34% |
7.81% |
GDI Blended Index (Linked)
(except as noted for MSCI World Value Index NTR, reflects no deduction for
fees, expenses, or taxes) |
9.85% |
4.25% |
5.77% |
• |
for the period from January 1,
2019 and after: 80% Bloomberg Barclays Global Aggregate Index and 20% MSCI
World Value Index NTR. Performance of each of these components is also
shown separately. |
• |
for the period prior to
January 1, 2019: 40% Bloomberg Barclays Global Credit Index; 30% Bloomberg
Barclays Global High Yield Index; and 30% MSCI ACWI Value Index NR.
|
• |
Jake S. Anonson (since 2014),
Portfolio Manager |
• |
Jessica S. Bush (since 2014),
Portfolio Manager |
• |
Marcus W. Dummer (since 2014),
Portfolio Manager |
• |
Kelly A. Grossman (since
2010), Portfolio Manager |
• |
Benjamin E. Rotenberg (since
2014), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to generate a
total return. |
Share
Class | |||||||
A |
C |
Inst. |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
Share
Class | |||||||
A |
C |
Inst. |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.86% |
0.86% |
0.86% |
0.86% |
0.86% |
0.86% |
0.86% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.24% |
0.25% |
0.22% |
0.33% |
0.29% |
0.27% |
0.01% |
Total Annual
Fund Operating Expenses |
1.35% |
2.11% |
1.08% |
1.44% |
1.25% |
1.13% |
0.87% |
Expense Reimbursement
(1) |
N/A |
N/A |
(0.14)% |
N/A |
N/A |
N/A |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.35% |
2.11% |
0.94% |
1.44% |
1.25% |
1.13% |
0.87% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.94% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$680 |
$954 |
$1,249 |
$2,085 |
Class
C |
314 |
661 |
1,134 |
2,441 |
Institutional
Class |
96 |
330 |
582 |
1,305 |
Class
R-3 |
147 |
456 |
787 |
1,724 |
Class
R-4 |
127 |
397 |
686 |
1,511 |
Class
R-5 |
115 |
359 |
622 |
1,375 |
Class
R-6 |
89 |
278 |
482 |
1,073 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$214 |
$661 |
$1,134 |
$2,441 |
• |
Smaller
Companies Risk. Investments in
smaller companies may involve greater risk and price volatility than
investments in larger, more mature companies.
|
• |
Value Style
Risk. Value investing entails the
risk that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
• |
Real
Estate. A fund concentrating in
the real estate industry is subject to the risks associated with direct
ownership of real estate, securities of companies in the real estate
industry, and/or real estate investment trusts.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
19.10 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(19.22 |
)% |
Average
Annual Total Returns | ||||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years | |
Class A
Return Before Taxes |
17.11% |
5.46% |
8.98% |
|
Class A
Return After Taxes on Distributions |
15.00% |
3.99% |
7.37% |
|
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
10.98% |
3.73% |
6.61% |
|
Class C
Return Before Taxes |
22.14% |
5.83% |
8.78% |
|
Institutional
Class Return Before Taxes |
24.50% |
7.08% |
10.57% |
(1) |
Class R-3
Return Before Taxes |
24.08% |
6.55% |
10.01% |
(1) |
Class R-4
Return Before Taxes |
24.11% |
6.72% |
10.21% |
(1) |
Class R-5
Return Before Taxes |
24.32% |
6.88% |
10.35% |
(1) |
Class R-6
Return Before Taxes |
24.85% |
7.12% |
10.58% |
(1) |
FTSE EPRA/NAREIT Developed
Index NTR (reflects withholding taxes on foreign dividends, but no
deduction for fees, expenses, or other taxes) |
21.93% |
5.56% |
8.37% |
|
(1) During
2010, the Institutional Class experienced a significant withdrawal of
monies by an affiliate. As the remaining shareholders held relatively
small positions, the total return amounts expressed herein are greater
than those that would have been experienced without the
withdrawal. |
• |
Simon Hedger (since 2007),
Portfolio Manager |
• |
Anthony Kenkel (since 2010),
Portfolio Manager |
• |
Kelly D. Rush (since 2007),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide a
high level of current income consistent with safety and
liquidity. |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5
| |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
2.25% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5
| |
Management Fees |
0.50% |
0.50% |
0.50% |
0.50% |
0.50% |
0.50% |
0.50% |
0.50% |
0.50% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.18% |
0.23% |
0.26% |
0.05% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Total Annual
Fund Operating Expenses |
0.83% |
1.73% |
0.91% |
0.55% |
1.39% |
1.26% |
1.08% |
0.89% |
0.77% |
Expense Reimbursement
(1) |
N/A |
(0.10)% |
N/A |
(0.02)% |
(0.10)% |
(0.10)% |
(0.10)% |
(0.10)% |
(0.10)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.83% |
1.63% |
0.91% |
0.53% |
1.29% |
1.16% |
0.98% |
0.79% |
0.67% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 1.63% for Class C, 0.53% for Institutional Class, 1.29% for
Class R-1, 1.16% for Class R-2, 0.98% for Class R-3, 0.79% for Class R-4,
and 0.67% for Class R-5 shares. It is expected that the expense limits
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limits prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$308 |
$484 |
$675 |
$1,227 |
Class
C |
266 |
535 |
929 |
2,033 |
Class
J |
193 |
290 |
504 |
1,120 |
Institutional
Class |
54 |
174 |
305 |
687 |
Class
R-1 |
131 |
430 |
751 |
1,660 |
Class
R-2 |
118 |
390 |
682 |
1,514 |
Class
R-3 |
100 |
334 |
586 |
1,308 |
Class
R-4 |
81 |
274 |
483 |
1,087 |
Class
R-5 |
68 |
236 |
418 |
945 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$166 |
$535 |
$929 |
$2,033 |
Class
J |
93 |
290 |
504 |
1,120 |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'10 |
3.07 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'16 |
(2.20 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
3.80% |
1.53% |
2.61% |
Class A
Return After Taxes on Distributions |
2.75% |
0.25% |
1.33% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
2.24% |
0.59% |
1.46% |
Class C
Return Before Taxes |
4.31% |
1.16% |
2.02% |
Class J
Return Before Taxes |
5.09% |
1.95% |
2.76% |
Institutional
Class Return Before Taxes |
6.46% |
2.27% |
3.15% |
Class R-1
Return Before Taxes |
5.65% |
1.50% |
2.36% |
Class R-2
Return Before Taxes |
5.79% |
1.63% |
2.50% |
Class R-3
Return Before Taxes |
5.88% |
1.81% |
2.68% |
Class R-4
Return Before Taxes |
6.18% |
2.01% |
2.88% |
Class R-5
Return Before Taxes |
6.31% |
2.13% |
3.00% |
Bloomberg Barclays MBS Fixed
Rate Index (reflects no deduction for fees, expenses or
taxes) |
6.36% |
2.58% |
3.18% |
• |
Bryan C. Davis (since 2019),
Portfolio Manager |
• |
Zach Gassmann (since 2019),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks as high a level
of current income as is considered consistent with preservation of
principal and maintenance of liquidity. |
Share
Class | ||
Inst. | ||
Management Fees |
0.15% | |
Distribution and/or Service
(12b-1) Fees |
N/A | |
Other Expenses |
0.01% | |
Acquired Fund Fees and Expenses
|
0.01% | |
Total Annual
Fund Operating Expenses |
0.17% | |
Fee Waiver and Expense
Reimbursement (1)(2) |
(0.02)% | |
Total Annual
Operating Expenses after Fee Waiver and Expense
Reimbursement |
0.15% | |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to reduce the
Fund's Management Fees through the period ending February 28, 2021. The
fee waiver will reduce the Fund's Management Fees in an amount equal to
all Acquired Fund Fees and Expenses. It is expected that the fee waiver
will continue through the period disclosed; however, Principal Funds, Inc.
and PGI, the parties to the agreement, may mutually agree to terminate the
fee waiver prior to the end of the period. | |
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund's expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.15% for
Institutional Class Shares. It is expected that the expense limit will
continue through the period ending February 28, 2021; however, Principal
Funds, Inc. and PGI, the parties to the agreement, may mutually agree to
terminate the expense limit prior to the end of the period. Subject to
applicable expense limits, the Fund may reimburse PGI for expenses
incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$15 |
$53 |
$94 |
$215 |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'19 |
0.57 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q1
'18 |
0.31 |
% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2019 |
1
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
2.06% |
1.87% |
Bloomberg Barclays U.S.
Treasury Bellwethers 3 Month Index (reflects no deduction for fees,
expenses, or taxes) |
2.31% |
2.09% |
• |
Erika Isley (since 2017),
Portfolio Manager |
• |
Tracy Reeg (since 2017),
Portfolio Manager |
Objective: |
The Fund seeks high current
income. |
Share
Class | ||
A |
Inst. | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
Share
Class | ||
A |
Inst. | |
Management Fees |
0.61% |
0.61% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
N/A |
Other Expenses |
0.77% |
0.01% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
1.64% |
0.63% |
Fee Waiver and Expense
Reimbursement (1)(2) |
(0.58)% |
(0.02)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
1.06% |
0.61% |
(1) Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s Management Fees through the period ending February 28, 2022. The
fee waiver will reduce the Fund's Management Fees by 0.015% (expressed as
a percent of average net assets on an annualized basis). It is expected
that the fee waiver will continue through the period disclosed; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the fee waiver prior to the end of the
period. | ||
(2) Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.05% for Class A
shares. It is expected that the expense limit will continue through the
period ending February 28, 2021; however, Principal Funds, Inc. and PGI,
the parties to the agreement, may mutually agree to terminate the expense
limit prior to the end of the period. Subject to applicable expense
limits, the Fund may reimburse PGI for expenses incurred during the
current fiscal year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$479 |
$816 |
$1,179 |
$2,197 |
Institutional
Class |
62 |
198 |
347 |
782 |
0.00% in securities rated
Aaa |
2.96% in securities rated
Baa |
20.34% in securities rated
Caa |
0.01% in securities rated
D |
0.00% in securities rated
Aa |
39.41% in securities rated
Ba |
0.76% in securities rated Ca
|
3.12% in securities not
rated |
0.03% in securities rated
A |
33.37% in securities rated
B |
0.00% in securities rated
C |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Swaps.
Swaps involve specific risks,
including: the imperfect correlation between the change in market value of
the instruments held by the fund and the price of the swap; possible lack
of a liquid secondary market for a swap and the resulting inability to
close a swap when desired; counterparty risk; and if the fund has
insufficient cash, it may have to sell securities from its portfolio to
meet daily variation margin requirements.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
6.99 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(7.25 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
6.99% |
3.34% |
5.62% |
Class A
Return After Taxes on Distributions |
4.31% |
0.99% |
2.98% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
4.09% |
1.47% |
3.27% |
Institutional
Class Return Before Taxes |
11.73% |
4.54% |
6.44% |
Bloomberg Barclays U.S.
Corporate High Yield 2% Issuer Capped Index (reflects no deduction for
fees, expenses, or taxes) |
14.33% |
6.14% |
7.55% |
• |
James W.
Fennessey (since 2007), Portfolio Manager |
• |
Randy L. Welch
(since 2007), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A |
Initial
Investment |
$1,000(1) |
A |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A |
Subsequent
Investments |
$100(1)(2) |
Institutional |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide a
high level of current income. |
Share
Class | ||||
A |
C |
Inst. |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
Share
Class | ||||
A |
C |
Inst. |
R-6 | |
Management Fees |
0.51% |
0.51% |
0.51% |
0.51% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
N/A |
Other Expenses |
0.18% |
0.16% |
0.15% |
0.01% |
Total Annual
Fund Operating Expenses |
0.94% |
1.67% |
0.66% |
0.52% |
Expense Reimbursement
(1)
|
N/A |
N/A |
(0.05)% |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.94% |
1.67% |
0.61% |
0.52% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.61% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$467 |
$663 |
$876 |
$1,486 |
Class
C |
270 |
526 |
907 |
1,976 |
Institutional
Class |
62 |
206 |
363 |
818 |
Class
R-6 |
53 |
167 |
291 |
653 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$170 |
$526 |
$907 |
$1,976 |
0.52% in securities rated
Aaa |
7.06% in securities rated
Baa |
7.35% in securities rated
Caa |
0.05% in securities rated
D |
0.00% in securities rated Aa
|
45.72% in securities rated
Ba |
0.39% in securities rated
Ca |
0.51% in securities not
rated |
0.44% in securities rated A
|
37.96% in securities rated
B |
0.00% in securities rated
C |
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
6.97 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(6.68 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
9.10% |
4.47% |
6.34% |
Class A
Return After Taxes on Distributions |
6.63% |
2.05% |
3.49% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
5.33% |
2.31% |
3.71% |
Class C
Return Before Taxes |
11.64% |
4.55% |
5.97% |
Institutional
Class Return Before Taxes |
13.78% |
5.61% |
7.09% |
Class R-6
Return Before Taxes |
13.88% |
5.56% |
6.88% |
Bloomberg Barclays U.S.
Corporate High Yield 2% Issuer Capped Index (reflects no deduction for
fees, expenses, or taxes) |
14.33% |
6.14% |
7.55% |
• |
Mark P. Denkinger (since
2009), Portfolio Manager |
• |
Josh Rank (since 2015),
Portfolio Manager |
• |
Darrin E. Smith (since 2009),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional,
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide
current income and real (after inflation) total returns.
|
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.38% |
0.38% |
0.38% |
0.38% |
0.38% |
0.38% |
0.38% |
0.38% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.55% |
0.74% |
0.01% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Total Annual
Fund Operating Expenses |
1.18% |
1.27% |
0.39% |
1.27% |
1.14% |
0.96% |
0.77% |
0.65% |
Expense Reimbursement
(1) |
(0.28)% |
(0.12)% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.90% |
1.15% |
0.39% |
1.27% |
1.14% |
0.96% |
0.77% |
0.65% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.90% for Class A and 1.15% for Class J shares. It is expected
that the expense limits will continue through the period ending February
28, 2021; however, Principal Funds, Inc. and PGI, the parties to the
agreement, may mutually agree to terminate the expense limits prior to the
end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$463 |
$709 |
$974 |
$1,729 |
Class
J |
217 |
391 |
685 |
1,523 |
Institutional
Class |
40 |
125 |
219 |
493 |
Class
R-1 |
129 |
403 |
697 |
1,534 |
Class
R-2 |
116 |
362 |
628 |
1,386 |
Class
R-3 |
98 |
306 |
531 |
1,178 |
Class
R-4 |
79 |
246 |
428 |
954 |
Class
R-5 |
66 |
208 |
362 |
810 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
117 |
391 |
685 |
1,523 |
• |
Futures and
Swaps.
These derivative instruments
involve specific risks, including: the imperfect correlation between the
change in market value of the instruments held by the fund and the price
of the instruments; possible lack of a liquid secondary market for an
instrument and the resulting inability to close it when desired;
counterparty risk; and if the fund has insufficient cash, it may have to
sell securities from its portfolio to meet any applicable daily variation
margin requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
4.35 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q2
'13 |
(6.83 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
3.52% |
0.89% |
2.20% |
Class A
Return After Taxes on Distributions |
2.92% |
0.25% |
1.62% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
2.08% |
0.39% |
1.47% |
Class J
Return Before Taxes |
6.14% |
1.45% |
2.40% |
Institutional
Class Return Before Taxes |
8.05% |
2.17% |
3.10% |
Class R-1
Return Before Taxes |
7.06% |
1.28% |
2.21% |
Class R-2
Return Before Taxes |
7.26% |
1.40% |
2.34% |
Class R-3
Return Before Taxes |
7.55% |
1.59% |
2.53% |
Class R-4
Return Before Taxes |
7.75% |
1.79% |
2.72% |
Class R-5
Return Before Taxes |
7.73% |
1.91% |
2.84% |
Bloomberg Barclays U.S.
Treasury TIPS Index (reflects no deduction for fees, expenses, or
taxes) |
8.43% |
2.62% |
3.36% |
• |
Akiva Dickstein (since 2018),
Managing Director |
• |
Chris Allen (since 2017),
Managing Director |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees (1) |
1.05% |
1.05% |
1.05% |
1.05% |
1.05% |
1.05% |
1.05% |
1.05% |
1.05% |
1.05% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.43% |
0.71% |
0.43% |
0.24% |
0.61% |
0.53% |
0.40% |
0.36% |
0.34% |
0.06% |
Total Annual
Fund Operating Expenses |
1.73% |
2.76% |
1.63% |
1.29% |
2.01% |
1.88% |
1.70% |
1.51% |
1.39% |
1.11% |
Expense Reimbursement
(2) |
(0.18)% |
(0.25)% |
(0.26)% |
(0.09)% |
N/A |
N/A |
N/A |
N/A |
N/A |
(0.02)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.55% |
2.51% |
1.37% |
1.20% |
2.01% |
1.88% |
1.70% |
1.51% |
1.39% |
1.09% |
(1) Fees
have been restated to reflect current fees. | ||||||||||
(2)
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.55% for Class
A, 2.51% for Class C, 1.37% for Class J and 1.20% for Institutional Class
shares. In addition, for Class R-6, the expense limit will maintain "Other
Expenses" (expressed as a percent of average net assets on an annualized
basis) not to exceed 0.04%, (excluding interest expense, expenses related
to fund investments, acquired fund fees and expenses, and other
extraordinary expenses). It is expected that the expense limits will
continue through the period ending February 28, 2021; however, Principal
Funds, Inc. and PGI, the parties to the agreement, may mutually agree to
terminate the expense limits prior to the end of the period. Subject to
applicable expense limits, the Fund may reimburse PGI for expenses
incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$699 |
$1,048 |
$1,421 |
$2,465 |
Class
C |
354 |
833 |
1,437 |
3,072 |
Class
J |
239 |
489 |
862 |
1,911 |
Institutional
Class |
122 |
400 |
699 |
1,549 |
Class
R-1 |
204 |
630 |
1,083 |
2,338 |
Class
R-2 |
191 |
591 |
1,016 |
2,201 |
Class
R-3 |
173 |
536 |
923 |
2,009 |
Class
R-4 |
154 |
477 |
824 |
1,802 |
Class
R-5 |
142 |
440 |
761 |
1,669 |
Class
R-6 |
111 |
351 |
610 |
1,350 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$254 |
$833 |
$1,437 |
$3,072 |
Class
J |
139 |
489 |
862 |
1,911 |
• |
Growth
Style Risk. Growth investing
entails the risk that if growth companies do not increase their earnings
at a rate expected by investors, the market price of their stock may
decline significantly, even if earnings show an absolute increase. Growth
company stocks also typically lack the dividend yield that can lessen
price declines in market downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk. Value investing entails the
risk that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
18.77 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(22.64 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year(1) |
5
Years |
10
Years |
Class A
Return Before Taxes |
10.74% |
2.74% |
1.90% |
Class A
Return After Taxes on Distributions |
10.33% |
2.59% |
1.87% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
7.18% |
2.32% |
1.69% |
Class C
Return Before Taxes |
15.13% |
2.84% |
1.47% |
Class J
Return Before Taxes |
16.44% |
4.03% |
2.58% |
Institutional
Class Return Before Taxes |
17.60% |
4.31% |
2.96% |
Class R-1
Return Before Taxes |
16.66% |
3.44% |
2.09% |
Class R-2
Return Before Taxes |
16.82% |
3.58% |
2.22% |
Class R-3
Return Before Taxes |
17.03% |
3.77% |
2.41% |
Class R-4
Return Before Taxes |
17.23% |
3.96% |
2.60% |
Class R-5
Return Before Taxes |
17.37% |
4.07% |
2.72% |
Class R-6
Return Before Taxes |
17.67% |
4.13% |
2.58% |
MSCI Emerging Markets Index NTR
(reflects withholding taxes on foreign dividends, but no deduction for
fees, expenses, or other taxes) |
18.44% |
5.61% |
3.68% |
(1) During 2019, the Fund
experienced a significant one-time gain of approximately $0.11/share as
the result of a settlement in a litigation proceeding. If such gain had
not been recognized, the total return amounts expressed herein would have
been lower. |
• |
Paul H. Blankenhagen (since
2019), Portfolio Manager |
• |
Jeffrey Kilkenny (since 2020),
Portfolio Manager |
• |
Alan Wang (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||
A |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees (1) |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.62% |
0.17% |
0.59% |
0.51% |
0.38% |
0.34% |
0.32% |
0.08% |
Total Annual
Fund Operating Expenses |
1.62% |
0.92% |
1.69% |
1.56% |
1.38% |
1.19% |
1.07% |
0.83% |
Expense Reimbursement
(2) |
(0.32)% |
(0.02)% |
N/A |
N/A |
N/A |
N/A |
N/A |
(0.04)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.30% |
0.90% |
1.69% |
1.56% |
1.38% |
1.19% |
1.07% |
0.79% |
(1) Fees
have been restated to reflect current fees. | ||||||||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 1.30% for Class A and 0.90% for Institutional Class shares. In
addition, for Class R-6, the expense limit will maintain "Other Expenses"
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.04% (excluding interest expense, expenses related to fund
investments, acquired fund fees and expenses, and other extraordinary
expenses). It is expected that the expense limits will continue through
the period ending February 28, 2021; however, Principal Funds, Inc. and
PGI, the parties to the agreement, may mutually agree to terminate the
expense limits prior to the end of the period. Subject to applicable
expense limits, the Fund may reimburse PGI for expenses incurred during
the current fiscal year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$675 |
$1,003 |
$1,354 |
$2,341 |
Institutional
Class |
92 |
291 |
507 |
1,129 |
Class
R-1 |
172 |
533 |
918 |
1,998 |
Class
R-2 |
159 |
493 |
850 |
1,856 |
Class
R-3 |
140 |
437 |
755 |
1,657 |
Class
R-4 |
121 |
378 |
654 |
1,443 |
Class
R-5 |
109 |
340 |
590 |
1,306 |
Class
R-6 |
81 |
261 |
457 |
1,022 |
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
18.54 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(22.90 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
24.28% |
4.47% |
5.20% |
Class A
Return After Taxes on Distributions |
23.92% |
4.11% |
4.96% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
15.06% |
3.58% |
4.31% |
Institutional
Class Return Before Taxes |
32.10% |
6.14% |
6.25% |
Class R-1
Return Before Taxes |
30.94% |
5.26% |
5.36% |
Class R-2
Return Before Taxes |
31.17% |
5.42% |
5.50% |
Class R-3
Return Before Taxes |
31.33% |
5.59% |
5.69% |
Class R-4
Return Before Taxes |
31.72% |
5.80% |
5.89% |
Class R-5
Return Before Taxes |
31.74% |
5.91% |
6.02% |
Class R-6
Return Before Taxes |
32.23% |
6.15% |
6.24% |
MSCI ACWI Ex-U.S. Index NTR
(reflects withholding taxes on foreign dividends, but no deduction for
fees, expenses, or other taxes) |
21.53% |
5.51% |
4.97% |
• |
John Birkhold (since 2014),
Partner |
• |
Chris Carter (since 2014),
Partner |
• |
Nigel Dutson (since 2014),
Partner |
• |
Tarlock Randhawa (since 2014),
Partner |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A |
Initial
Investment |
$1,000(1) |
A |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.17% |
0.12% |
0.10% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
0.01% |
Total Annual
Fund Operating Expenses |
1.02% |
0.87% |
0.70% |
1.49% |
1.36% |
1.18% |
0.99% |
0.87% |
0.61% |
Fee Waiver and Expense
Reimbursement (1)(2) |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
1.00% |
0.85% |
0.68% |
1.47% |
1.34% |
1.16% |
0.97% |
0.85% |
0.59% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's Management Fees through the period ending
February 28, 2021. The fee waiver will reduce the Fund's Management Fees
by 0.016% (expressed as a percent of average net assets on an annualized
basis). It is expected that the fee waiver will continue through the
period disclosed; however, Principal Funds, Inc. and PGI, the parties to
the agreement may mutually agree to terminate the fee waiver prior to the
end of the period. | |||||||||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.69% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$646 |
$855 |
$1,080 |
$1,727 |
Class
J |
187 |
276 |
480 |
1,071 |
Institutional
Class |
69 |
222 |
388 |
869 |
Class
R-1 |
150 |
469 |
811 |
1,778 |
Class
R-2 |
136 |
429 |
743 |
1,633 |
Class
R-3 |
118 |
373 |
647 |
1,430 |
Class
R-4 |
99 |
313 |
545 |
1,211 |
Class
R-5 |
87 |
276 |
480 |
1,071 |
Class
R-6 |
60 |
193 |
338 |
760 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$87 |
$276 |
$480 |
$1,071 |
• |
Growth
Style Risk. Growth investing
entails the risk that if growth companies do not increase their earnings
at a rate expected by investors, the market price of their stock may
decline significantly, even if earnings show an absolute increase. Growth
company stocks also typically lack the dividend yield that can lessen
price declines in market downturns.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'12 |
17.95 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(15.37 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
27.07% |
13.50% |
14.22% |
Class A
Return After Taxes on Distributions |
24.73% |
11.10% |
12.43% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
17.68% |
10.28% |
11.48% |
Class J
Return Before Taxes |
33.69% |
15.10% |
15.08% |
Institutional
Class Return Before Taxes |
34.83% |
15.34% |
15.49% |
Class R-1
Return Before Taxes |
33.77% |
14.40% |
14.51% |
Class R-2
Return Before Taxes |
33.96% |
14.53% |
14.67% |
Class R-3
Return Before Taxes |
34.25% |
14.75% |
14.86% |
Class R-4
Return Before Taxes |
34.52% |
14.98% |
15.09% |
Class R-5
Return Before Taxes |
34.69% |
15.11% |
15.23% |
Class R-6
Return Before Taxes |
34.96% |
15.38% |
15.50% |
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
36.42% |
14.63% |
15.22% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share Class
| |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
1.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
0.25% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share Class
| |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.16% |
0.18% |
0.11% |
0.02% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Total Annual
Fund Operating Expenses |
0.46% |
1.33% |
0.41% |
0.17% |
1.03% |
0.90% |
0.72% |
0.53% |
0.41% |
Expense Reimbursement
(1) |
N/A |
(0.03)% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.46% |
1.30% |
0.41% |
0.17% |
1.03% |
0.90% |
0.72% |
0.53% |
0.41% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 1.30% for Class C shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$196 |
$295 |
$404 |
$720 |
Class
C |
232 |
418 |
726 |
1,599 |
Class
J |
142 |
132 |
230 |
518 |
Institutional
Class |
17 |
55 |
96 |
217 |
Class
R-1 |
105 |
328 |
569 |
1,259 |
Class
R-2 |
92 |
287 |
498 |
1,108 |
Class
R-3 |
74 |
230 |
401 |
894 |
Class
R-4 |
54 |
170 |
296 |
665 |
Class
R-5 |
42 |
132 |
230 |
518 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$132 |
$418 |
$726 |
$1,599 |
Class
J |
42 |
132 |
230 |
518 |
Note: |
“Standard & Poor's 500"
and "S&P 500®" are trademarks of S&P
Global and have been licensed by Principal. The Fund is not sponsored,
endorsed, sold, or promoted by S&P Global and S&P Global makes no
representation regarding the advisability of investing in the
Fund. |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements. |
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
13.56 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(13.96 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
28.96% |
10.84% |
12.77% |
Class A
Return After Taxes on Distributions |
27.89% |
9.69% |
12.04% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
17.90% |
8.43% |
10.57% |
Class C
Return Before Taxes |
28.77% |
10.25% |
12.09% |
Class J
Return Before Taxes |
30.05% |
11.27% |
13.01% |
Institutional
Class Return Before Taxes |
31.32% |
11.52% |
13.36% |
Class R-1
Return Before Taxes |
30.14% |
10.56% |
12.38% |
Class R-2
Return Before Taxes |
30.34% |
10.70% |
12.52% |
Class R-3
Return Before Taxes |
30.56% |
10.90% |
12.73% |
Class R-4
Return Before Taxes |
30.81% |
11.10% |
12.95% |
Class R-5
Return Before Taxes |
30.98% |
11.24% |
13.08% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
31.51% |
11.70% |
13.56% |
• |
Jeffrey A. Schwarte (since
2016), Portfolio Manager |
• |
Aaron J. Siebel (since 2018),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.77% |
0.77% |
0.77% |
0.77% |
0.77% |
0.77% |
0.77% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.23% |
0.02% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Total Annual
Fund Operating Expenses |
1.15% |
0.79% |
1.66% |
1.53% |
1.35% |
1.16% |
1.04% |
Fee Waiver (1) |
(0.07)% |
(0.07)% |
(0.07)% |
(0.07)% |
(0.07)% |
(0.07)% |
(0.07)% |
Total Annual
Fund Operating Expenses after Fee Waiver |
1.08% |
0.72% |
1.59% |
1.46% |
1.28% |
1.09% |
0.97% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's Management Fees through the period ending
February 28, 2021. The fee waiver will reduce the Fund's Management Fees
by 0.065% (expressed as a percent of average net assets on an annualized
basis). It is expected that the fee waiver will continue through the
period disclosed; however, Principal Funds, Inc. and PGI, the parties to
the agreement may mutually agree to terminate the fee waiver prior to the
end of the period. |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$210 |
$358 |
$626 |
$1,391 |
Institutional
Class |
74 |
245 |
432 |
971 |
Class
R-1 |
162 |
517 |
896 |
1,960 |
Class
R-2 |
149 |
477 |
828 |
1,818 |
Class
R-3 |
130 |
421 |
733 |
1,618 |
Class
R-4 |
111 |
362 |
632 |
1,403 |
Class
R-5 |
99 |
324 |
567 |
1,265 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$110 |
$358 |
$626 |
$1,391 |
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'11 |
12.66 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(18.23 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
26.47% |
9.09% |
11.25% |
Institutional
Class Return After Taxes on Distributions |
24.60% |
7.25% |
10.14% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
16.99% |
6.86% |
9.15% |
Class J
Return Before Taxes |
25.02% |
8.72% |
10.79% |
Class R-1
Return Before Taxes |
25.42% |
8.14% |
10.28% |
Class R-2
Return Before Taxes |
25.52% |
8.27% |
10.41% |
Class R-3
Return Before Taxes |
25.72% |
8.47% |
10.61% |
Class R-4
Return Before Taxes |
25.99% |
8.67% |
10.83% |
Class R-5
Return Before Taxes |
26.17% |
8.81% |
10.96% |
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
26.56% |
8.29% |
11.80% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.58% |
0.58% |
0.58% |
0.58% |
0.58% |
0.58% |
0.58% |
0.58% |
0.58% |
0.58% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.15% |
0.12% |
0.13% |
0.12% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
0.02% |
Total Annual
Fund Operating Expenses |
0.98% |
1.70% |
0.86% |
0.70% |
1.47% |
1.34% |
1.16% |
0.97% |
0.85% |
0.60% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
—% |
N/A |
N/A |
N/A |
N/A |
N/A |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.98% |
1.70% |
0.86% |
0.70% |
1.47% |
1.34% |
1.16% |
0.97% |
0.85% |
0.60% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.70% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$644 |
$845 |
$1,062 |
$1,685 |
Class
C |
273 |
536 |
923 |
2,009 |
Class
J |
188 |
274 |
477 |
1,061 |
Institutional
Class |
72 |
224 |
390 |
871 |
Class
R-1 |
150 |
465 |
803 |
1,757 |
Class
R-2 |
136 |
425 |
734 |
1,613 |
Class
R-3 |
118 |
368 |
638 |
1,409 |
Class
R-4 |
99 |
309 |
536 |
1,190 |
Class
R-5 |
87 |
271 |
471 |
1,049 |
Class
R-6 |
61 |
192 |
335 |
750 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$173 |
$536 |
$923 |
$2,009 |
Class
J |
88 |
274 |
477 |
1,061 |
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
19.18 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(15.02 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
34.62% |
11.72% |
15.12% |
Class A
Return After Taxes on Distributions |
33.19% |
10.28% |
13.96% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
21.50% |
9.02% |
12.49% |
Class C
Return Before Taxes |
40.49% |
12.18% |
14.93% |
Class J
Return Before Taxes |
41.73% |
13.16% |
15.87% |
Institutional
Class Return Before Taxes |
42.91% |
13.33% |
16.19% |
Class R-1
Return Before Taxes |
41.80% |
12.44% |
15.25% |
Class R-2
Return Before Taxes |
42.02% |
12.59% |
15.39% |
Class R-3
Return Before Taxes |
42.24% |
12.79% |
15.61% |
Class R-4
Return Before Taxes |
42.49% |
13.00% |
15.83% |
Class R-5
Return Before Taxes |
42.67% |
13.15% |
15.97% |
Class R-6
Return Before Taxes |
43.08% |
13.17% |
15.80% |
Russell Midcap Index (reflects
no deduction for fees, expenses, or taxes) |
30.57% |
9.33% |
13.20% |
• |
K. William Nolin (since 2000),
Portfolio Manager |
• |
Tom Rozycki (since 2013),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.20% |
0.15% |
0.55% |
0.47% |
0.34% |
0.30% |
0.28% |
Total Annual
Fund Operating Expenses |
1.00% |
0.80% |
1.55% |
1.42% |
1.24% |
1.05% |
0.93% |
Expense Reimbursement
(1) |
N/A |
(0.05)% |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.00% |
0.75% |
1.55% |
1.42% |
1.24% |
1.05% |
0.93% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.75% for Institutional Class shares. It is expected that the
expense limit will continue through the period ending February 28, 2021;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. Subject to applicable expense limits, the Fund may reimburse PGI
for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
J |
$202 |
$318 |
$552 |
$1,225 |
Institutional
Class |
77 |
250 |
439 |
985 |
Class
R-1 |
158 |
490 |
845 |
1,845 |
Class
R-2 |
145 |
449 |
776 |
1,702 |
Class
R-3 |
126 |
393 |
681 |
1,500 |
Class
R-4 |
107 |
334 |
579 |
1,283 |
Class
R-5 |
95 |
296 |
515 |
1,143 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$102 |
$318 |
$552 |
$1,225 |
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
21.92 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(22.62 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
31.50% |
10.23% |
13.00% |
Institutional
Class Return After Taxes on Distributions |
30.25% |
8.94% |
10.20% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
19.52% |
7.89% |
9.56% |
Class J
Return Before Taxes |
30.09% |
9.95% |
12.55% |
Class R-1
Return Before Taxes |
30.20% |
9.34% |
12.08% |
Class R-2
Return Before Taxes |
30.46% |
9.47% |
12.21% |
Class R-3
Return Before Taxes |
30.78% |
9.70% |
12.42% |
Class R-4
Return Before Taxes |
31.04% |
9.93% |
12.65% |
Class R-5
Return Before Taxes |
31.09% |
10.04% |
12.77% |
Russell Midcap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
35.50% |
11.61% |
14.24% |
• |
Christopher T.
Corbett (since 2017), Senior Vice President/Co-Portfolio Manager
|
• |
Clifford G.
Fox (since 2005), Senior Managing Director/Co-Portfolio Manager
|
• |
Michael Iacono
(since 2005), Senior Managing Director/Portfolio Manager
|
•
|
Marc R. Shapiro (since 2019),
Senior Vice President/Co-Portfolio Manager
|
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees (1) |
0.88% |
0.88% |
0.88% |
0.88% |
0.88% |
0.88% |
0.88% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.25% |
0.01% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Total Annual
Fund Operating Expenses |
1.28% |
0.89% |
1.76% |
1.63% |
1.45% |
1.26% |
1.14% |
Fee Waiver (2) |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
Total Annual
Fund Operating Expenses after Fee Waiver |
1.26% |
0.87% |
1.74% |
1.61% |
1.43% |
1.24% |
1.12% |
(1) Fees
have been restated to reflect current fees. | |||||||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's Management Fees through the period ending
February 28, 2021. The fee waiver will reduce the Fund's Management Fees
by 0.02% (expressed as a percent of average net assets on an annualized
basis). It is expected that the fee waiver will continue through the
period disclosed; however, Principal Funds, Inc. and PGI, the parties to
the agreement may mutually agree to terminate the fee waiver prior to the
end of the period. |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$228 |
$404 |
$700 |
$1,543 |
Institutional
Class |
89 |
282 |
491 |
1,094 |
Class
R-1 |
177 |
552 |
952 |
2,071 |
Class
R-2 |
164 |
512 |
885 |
1,931 |
Class
R-3 |
146 |
457 |
790 |
1,734 |
Class
R-4 |
126 |
398 |
690 |
1,521 |
Class
R-5 |
114 |
360 |
626 |
1,384 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$128 |
$404 |
$700 |
$1,543 |
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
18.14 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(20.36 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
35.40% |
10.60% |
12.38% |
Institutional
Class Return After Taxes on Distributions |
32.90% |
8.54% |
9.99% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
22.73% |
7.92% |
9.44% |
Class J
Return Before Taxes |
33.92% |
10.20% |
11.87% |
Class R-1
Return Before Taxes |
34.12% |
9.63% |
11.39% |
Class R-2
Return Before Taxes |
34.37% |
9.79% |
11.54% |
Class R-3
Return Before Taxes |
34.54% |
9.96% |
11.73% |
Class R-4
Return Before Taxes |
34.91% |
10.18% |
11.96% |
Class R-5
Return Before Taxes |
34.97% |
10.32% |
12.09% |
Russell Midcap Growth Index
(reflects no deduction for fees, expenses, or taxes) |
35.50% |
11.61% |
14.24% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class |
||||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.16% |
0.08% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
0.02% |
Total Annual
Fund Operating Expenses |
0.46% |
0.23% |
1.04% |
0.91% |
0.73% |
0.54% |
0.42% |
0.17% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.46% |
0.23% |
1.04% |
0.91% |
0.73% |
0.54% |
0.42% |
0.17% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%
for Class R-6 shares. It is expected that the expense limit will continue
through the period ending February 28, 2021; however, Principal Funds,
Inc. and PGI, the parties to the agreement, may mutually agree to
terminate the expense limit prior to the end of the period. Subject to
applicable expense limits, the Fund may reimburse PGI for expenses
incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
J |
$147 |
$148 |
$258 |
$579 |
Institutional
Class |
24 |
74 |
130 |
293 |
Class
R-1 |
106 |
331 |
574 |
1,271 |
Class
R-2 |
93 |
290 |
504 |
1,120 |
Class
R-3 |
75 |
233 |
406 |
906 |
Class
R-4 |
55 |
173 |
302 |
677 |
Class
R-5 |
43 |
135 |
235 |
530 |
Class
R-6 |
17 |
55 |
96 |
217 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$47 |
$148 |
$258 |
$579 |
Note: |
“Standard & Poor's MidCap
400" and "S&P MidCap 400" are trademarks of S&P Global and have
been licensed by Principal. The Fund is not sponsored, endorsed, sold or
promoted by S&P Global and S&P Global makes no representation
regarding the advisability of investing in the
Fund. |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
14.45 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(19.84 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
26.02% |
8.78% |
12.47% |
Institutional
Class Return After Taxes on Distributions |
24.24% |
6.85% |
10.98% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
16.64% |
6.62% |
10.12% |
Class J
Return Before Taxes |
24.74% |
8.51% |
12.06% |
Class R-1
Return Before Taxes |
24.97% |
7.89% |
11.53% |
Class R-2
Return Before Taxes |
25.15% |
8.03% |
11.68% |
Class R-3
Return Before Taxes |
25.31% |
8.22% |
11.87% |
Class R-4
Return Before Taxes |
25.60% |
8.41% |
12.09% |
Class R-5
Return Before Taxes |
25.79% |
8.55% |
12.22% |
Class R-6
Return Before Taxes |
26.07% |
8.58% |
12.06% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
26.22% |
9.03% |
12.72% |
• |
Jeffrey A. Schwarte (since
2016), Portfolio Manager |
• |
Aaron J. Siebel (since 2018),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees (1) |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.50% |
0.25% |
0.07% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
0.01% |
Total Annual
Fund Operating Expenses |
1.40% |
1.05% |
0.72% |
1.54% |
1.41% |
1.23% |
1.04% |
0.92% |
0.66% |
Fee Waiver and Expense
Reimbursement (2)(3) |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
1.38% |
1.03% |
0.70% |
1.52% |
1.39% |
1.21% |
1.02% |
0.90% |
0.64% |
(1) Fees
have been restated to reflect current fees. | |||||||||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's Management Fees through the period ending
February 28, 2021. The fee waiver will reduce the Fund's Management Fees
by 0.02% (expressed as a percent of average net assets on an annualized
basis). It is expected that the fee waiver will continue through the
period disclosed; however, Principal Funds, Inc. and PGI, the parties to
the agreement may mutually agree to terminate the fee waiver prior to the
end of the period. | |||||||||
(3) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.72% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$683 |
$967 |
$1,272 |
$2,136 |
Class
J |
205 |
332 |
577 |
1,281 |
Institutional
Class |
72 |
228 |
399 |
893 |
Class
R-1 |
155 |
484 |
838 |
1,833 |
Class
R-2 |
142 |
444 |
769 |
1,689 |
Class
R-3 |
123 |
388 |
674 |
1,487 |
Class
R-4 |
104 |
329 |
572 |
1,269 |
Class
R-5 |
92 |
291 |
507 |
1,129 |
Class
R-6 |
65 |
209 |
366 |
821 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$105 |
$332 |
$577 |
$1,281 |
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
13.58 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(19.55 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
19.28% |
5.22% |
10.53% |
Institutional
Class Return Before Taxes |
26.67% |
6.72% |
11.44% |
Institutional
Class Return After Taxes on Distributions |
25.05% |
4.72% |
9.13% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
16.70% |
4.77% |
8.71% |
Class J
Return Before Taxes |
25.37% |
6.41% |
11.00% |
Class R-1
Return Before Taxes |
25.74% |
5.84% |
10.50% |
Class R-2
Return Before Taxes |
25.89% |
5.96% |
10.64% |
Class R-3
Return Before Taxes |
26.15% |
6.16% |
10.84% |
Class R-4
Return Before Taxes |
26.44% |
6.37% |
11.06% |
Class R-5
Return Before Taxes |
26.54% |
6.50% |
11.19% |
Class R-6
Return Before Taxes |
26.94% |
6.76% |
11.47% |
Russell Midcap Value Index
(reflects no deduction for fees, expenses, or taxes) |
27.08% |
7.62% |
12.42% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks as high a level
of current income as is considered consistent with preservation of
principal and maintenance of liquidity. |
Share
Class | ||
A |
J | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
Share
Class | ||
A |
J | |
Management Fees |
0.40% |
0.40% |
Distribution and/or Service
(12b-1) Fees |
—% |
0.15% |
Other Expenses |
0.20% |
0.20% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
0.61% |
0.76% |
Fee Waiver and Expense
Reimbursement (1)(2) |
(0.10)% |
(0.15)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
0.51% |
0.61% |
(1) Principal
Funds Distributor, Inc. (the "Distributor") has contractually agreed to
limit the Distribution Fees attributable to Class J. The waiver will
reduce the Fund's Distribution Fees by 0.15%. It is expected that the fee
waiver will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and the Distributor, the parties to the agreement,
may mutually agree to terminate the fee waiver prior to the end of the
period. | ||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.50% for Class A shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$152 |
$185 |
$330 |
$753 |
Class
J |
162 |
228 |
408 |
928 |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$52 |
$185 |
$330 |
$753 |
Class
J |
62 |
228 |
408 |
928 |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'19 |
0.53 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'16 |
0.00 |
% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
1.88% |
0.82% |
0.41% |
Class J
Return Before Taxes |
0.78% |
0.77% |
0.38% |
Bloomberg Barclays U.S.
Treasury Bellwethers 3 Month Index (reflects no deduction for fees,
expenses, or taxes) |
2.31% |
1.09% |
0.60% |
• |
Erika Isley (since 2017),
Portfolio Manager |
• |
Tracy Reeg (since 2004),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5
| |
Management Fees (1) |
0.93% |
0.93% |
0.93% |
0.93% |
0.93% |
0.93% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.04% |
0.56% |
0.48% |
0.35% |
0.31% |
0.29% |
Total Annual
Fund Operating Expenses |
0.97% |
1.84% |
1.71% |
1.53% |
1.34% |
1.22% |
Fee Waiver (2) |
(0.04)% |
(0.04)% |
(0.04)% |
(0.04)% |
(0.04)% |
(0.04)% |
Total Annual
Fund Operating Expenses after Fee Waiver |
0.93% |
1.80% |
1.67% |
1.49% |
1.30% |
1.18% |
(1) Fees have been restated to
reflect current fees. | ||||||
(2) Principal Global Investors, LLC
("PGI") has contractually agreed to limit the Fund's Management Fees
through the period ending February 28, 2021. The fee waiver will reduce
the Fund's Management Fees by 0.035% (expressed as a percent of average
net assets on an annualized basis). It is expected that the fee waiver
will continue through the period disclosed; however, Principal Funds, Inc.
and PGI, the parties to the agreement may mutually agree to terminate the
fee waiver prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$95 |
$305 |
$532 |
$1,186 |
Class
R-1 |
183 |
575 |
992 |
2,155 |
Class
R-2 |
170 |
535 |
924 |
2,016 |
Class
R-3 |
152 |
479 |
830 |
1,820 |
Class
R-4 |
132 |
421 |
730 |
1,609 |
Class
R-5 |
120 |
383 |
666 |
1,474 |
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
• |
Brexit
Risk. The United
Kingdom’s intended departure from the European Union, commonly known as
“Brexit,” has resulted in significant uncertainties and instability in the
financial markets. Brexit may have significant political and financial
consequences in the United Kingdom, as well as in European markets and the
broader global economy. As a result, the fund’s performance may be more
volatile than the performance of a more geographically diversified
fund. |
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
18.02 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(21.11 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
20.83% |
3.82% |
4.76% |
Institutional
Class Return After Taxes on Distributions |
20.26% |
2.97% |
3.75% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
13.23% |
3.05% |
3.86% |
Class R-1
Return Before Taxes |
19.95% |
2.90% |
3.85% |
Class R-2
Return Before Taxes |
19.95% |
3.04% |
3.98% |
Class R-3
Return Before Taxes |
20.25% |
3.24% |
4.17% |
Class R-4
Return Before Taxes |
20.37% |
3.41% |
4.37% |
Class R-5
Return Before Taxes |
20.63% |
3.55% |
4.50% |
MSCI EAFE Value Index NTR
(reflects withholding taxes on foreign dividends, but no deduction for
fees, expenses, or other taxes) |
16.10% |
3.54% |
3.98% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Objective: |
The Fund seeks to provide
long-term growth of capital. |
Share
Class | ||||||||
A |
C |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
C |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
0.48% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.13% |
0.22% |
0.03% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Total Annual
Fund Operating Expenses |
0.86% |
1.70% |
0.51% |
1.37% |
1.24% |
1.06% |
0.87% |
0.75% |
Expense Reimbursement
(1) |
N/A |
N/A |
(0.04)% |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.86% |
1.70% |
0.47% |
1.37% |
1.24% |
1.06% |
0.87% |
0.75% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.47% for Institutional Class shares. It is expected that the
expense limit will continue through the period ending February 28, 2021;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. Subject to applicable expense limits, the Fund may reimburse PGI
for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$633 |
$809 |
$1,001 |
$1,552 |
Class
C |
273 |
536 |
923 |
2,009 |
Institutional
Class |
48 |
160 |
281 |
637 |
Class
R-1 |
139 |
434 |
750 |
1,646 |
Class
R-2 |
126 |
393 |
681 |
1,500 |
Class
R-3 |
108 |
337 |
585 |
1,294 |
Class
R-4 |
89 |
278 |
482 |
1,073 |
Class
R-5 |
77 |
240 |
417 |
930 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$173 |
$536 |
$923 |
$2,009 |
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
13.30 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(15.07 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
24.92% |
10.06% |
12.06% |
Class A
Return After Taxes on Distributions |
22.59% |
6.76% |
10.03% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
16.39% |
7.34% |
9.62% |
Class C
Return Before Taxes |
30.04% |
10.40% |
11.75% |
Institutional
Class Return Before Taxes |
32.69% |
11.72% |
13.15% |
Class R-1
Return Before Taxes |
31.49% |
10.75% |
12.16% |
Class R-2
Return Before Taxes |
31.68% |
10.89% |
12.31% |
Class R-3
Return Before Taxes |
31.92% |
11.09% |
12.51% |
Class R-4
Return Before Taxes |
32.16% |
11.31% |
12.72% |
Class R-5
Return Before Taxes |
32.31% |
11.43% |
12.85% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
31.04% |
11.24% |
13.42% |
• |
Daniel R. Coleman (since
2010), Portfolio Manager |
• |
Theodore Jayne (since 2015),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks current income,
and as a secondary objective, capital
appreciation. |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.28% |
0.12% |
0.03% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Acquired Fund Fees and
Expenses |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
Total Annual
Fund Operating Expenses |
1.12% |
0.86% |
0.62% |
1.48% |
1.35% |
1.17% |
0.98% |
0.86% |
Expense Reimbursement
(1) |
(0.15)% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.97% |
0.86% |
0.62% |
1.48% |
1.35% |
1.17% |
0.98% |
0.86% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.38% for Class A shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$470 |
$703 |
$955 |
$1,674 |
Class
J |
188 |
274 |
477 |
1,061 |
Institutional
Class |
63 |
199 |
346 |
774 |
Class
R-1 |
151 |
468 |
808 |
1,768 |
Class
R-2 |
137 |
428 |
739 |
1,624 |
Class
R-3 |
119 |
372 |
644 |
1,420 |
Class
R-4 |
100 |
312 |
542 |
1,201 |
Class
R-5 |
88 |
274 |
477 |
1,061 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$88 |
$274 |
$477 |
$1,061 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
6.03 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(4.06 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
8.18% |
3.14% |
4.75% |
Class A
Return After Taxes on Distributions |
6.58% |
1.85% |
3.70% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
5.37% |
2.03% |
3.39% |
Class J
Return Before Taxes |
11.60% |
4.07% |
5.23% |
Institutional
Class Return Before Taxes |
12.77% |
4.29% |
5.53% |
Class R-1
Return Before Taxes |
11.84% |
3.40% |
4.63% |
Class R-2
Return Before Taxes |
11.99% |
3.53% |
4.77% |
Class R-3
Return Before Taxes |
12.16% |
3.71% |
4.95% |
Class R-4
Return Before Taxes |
12.42% |
3.92% |
5.14% |
Class R-5
Return Before Taxes |
12.48% |
4.04% |
5.27% |
S&P Target Date Retirement
Income Index (reflects no deduction for fees, expenses, or
taxes) |
13.34% |
4.68% |
5.50% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.19% |
0.07% |
0.02% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Acquired Fund Fees and
Expenses |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
Total Annual
Fund Operating Expenses |
1.04% |
0.82% |
0.62% |
1.49% |
1.36% |
1.18% |
0.99% |
0.87% |
Expense Reimbursement
(1) |
(0.06)% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.98% |
0.82% |
0.62% |
1.49% |
1.36% |
1.18% |
0.99% |
0.87% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.38% for Class A shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$471 |
$688 |
$922 |
$1,593 |
Class
J |
184 |
262 |
455 |
1,014 |
Institutional
Class |
63 |
199 |
346 |
774 |
Class
R-1 |
152 |
471 |
813 |
1,779 |
Class
R-2 |
138 |
431 |
745 |
1,635 |
Class
R-3 |
120 |
375 |
649 |
1,432 |
Class
R-4 |
101 |
315 |
547 |
1,213 |
Class
R-5 |
89 |
278 |
482 |
1,073 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$84 |
$262 |
$455 |
$1,014 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
9.11 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(8.26 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
9.65% |
3.78% |
5.91% |
Class A
Return After Taxes on Distributions |
7.68% |
2.15% |
4.75% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
6.57% |
2.51% |
4.38% |
Class J
Return Before Taxes |
13.22% |
4.78% |
6.43% |
Institutional
Class Return Before Taxes |
14.35% |
4.96% |
6.71% |
Class R-1
Return Before Taxes |
13.35% |
4.06% |
5.78% |
Class R-2
Return Before Taxes |
13.52% |
4.20% |
5.92% |
Class R-3
Return Before Taxes |
13.77% |
4.39% |
6.11% |
Class R-4
Return Before Taxes |
13.94% |
4.57% |
6.31% |
Class R-5
Return Before Taxes |
14.12% |
4.70% |
6.43% |
S&P Target Date 2010 Index
(reflects no deduction for fees, expenses, or taxes) |
14.31% |
5.16% |
6.21% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5
| |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.02% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Acquired Fund Fees and
Expenses |
0.62% |
0.62% |
0.62% |
0.62% |
0.62% |
0.62% |
Total Annual
Fund Operating Expenses |
0.64% |
1.51% |
1.38% |
1.20% |
1.01% |
0.89% |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$65 |
$205 |
$357 |
$798 |
Class
R-1 |
154 |
477 |
824 |
1,802 |
Class
R-2 |
140 |
437 |
755 |
1,657 |
Class
R-3 |
122 |
381 |
660 |
1,455 |
Class
R-4 |
103 |
322 |
558 |
1,236 |
Class
R-5 |
91 |
284 |
493 |
1,096 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
10.29 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(10.77 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
16.28% |
5.52% |
7.28% |
Institutional
Class Return After Taxes on Distributions |
12.78% |
3.23% |
5.44% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
11.59% |
3.82% |
5.40% |
Class R-1
Return Before Taxes |
15.22% |
4.60% |
6.34% |
Class R-2
Return Before Taxes |
15.33% |
4.73% |
6.48% |
Class R-3
Return Before Taxes |
15.54% |
4.92% |
6.68% |
Class R-4
Return Before Taxes |
15.75% |
5.14% |
6.88% |
Class R-5
Return Before Taxes |
15.81% |
5.24% |
7.00% |
S&P Target Date 2015 Index
(reflects no deduction for fees, expenses, or taxes) |
15.41% |
5.67% |
6.92% |
• |
James W. Fennessey (since
2008), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2008),
Portfolio Manager |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.13% |
0.05% |
0.01% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.64% |
0.64% |
0.64% |
0.64% |
0.64% |
0.64% |
0.64% |
0.64% |
Total Annual
Fund Operating Expenses |
1.02% |
0.84% |
0.65% |
1.52% |
1.39% |
1.21% |
1.02% |
0.90% |
Expense Reimbursement
(1) |
—% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.02% |
0.84% |
0.65% |
1.52% |
1.39% |
1.21% |
1.02% |
0.90% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.38% for Class A shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$648 |
$857 |
$1,082 |
$1,729 |
Class
J |
186 |
268 |
466 |
1,037 |
Institutional
Class |
66 |
208 |
362 |
810 |
Class
R-1 |
155 |
480 |
829 |
1,813 |
Class
R-2 |
142 |
440 |
761 |
1,669 |
Class
R-3 |
123 |
384 |
665 |
1,466 |
Class
R-4 |
104 |
325 |
563 |
1,248 |
Class
R-5 |
92 |
287 |
498 |
1,108 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$86 |
$268 |
$466 |
$1,037 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
10.58 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(12.72 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
11.53% |
4.48% |
6.90% |
Class A
Return After Taxes on Distributions |
9.25% |
2.59% |
5.51% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
8.06% |
2.94% |
5.13% |
Class J
Return Before Taxes |
17.31% |
5.87% |
7.62% |
Institutional
Class Return Before Taxes |
18.38% |
6.06% |
7.91% |
Class R-1
Return Before Taxes |
17.42% |
5.15% |
6.97% |
Class R-2
Return Before Taxes |
17.55% |
5.29% |
7.11% |
Class R-3
Return Before Taxes |
17.76% |
5.48% |
7.30% |
Class R-4
Return Before Taxes |
18.00% |
5.67% |
7.51% |
Class R-5
Return Before Taxes |
18.06% |
5.80% |
7.63% |
S&P Target Date 2020 Index
(reflects no deduction for fees, expenses, or taxes) |
16.53% |
6.16% |
7.55% |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5
| |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.01% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
0.65% |
Total Annual
Fund Operating Expenses |
0.66% |
1.53% |
1.40% |
1.22% |
1.03% |
0.91% |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$67 |
$211 |
$368 |
$822 |
Class
R-1 |
156 |
483 |
834 |
1,824 |
Class
R-2 |
143 |
443 |
766 |
1,680 |
Class
R-3 |
124 |
387 |
670 |
1,477 |
Class
R-4 |
105 |
328 |
569 |
1,259 |
Class
R-5 |
93 |
290 |
504 |
1,120 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
11.31 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(13.65 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
20.48% |
6.65% |
8.38% |
Institutional
Class Return After Taxes on Distributions |
18.40% |
4.95% |
6.89% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
13.26% |
4.80% |
6.40% |
Class R-1
Return Before Taxes |
19.43% |
5.72% |
7.43% |
Class R-2
Return Before Taxes |
19.53% |
5.86% |
7.57% |
Class R-3
Return Before Taxes |
19.81% |
6.05% |
7.77% |
Class R-4
Return Before Taxes |
20.01% |
6.24% |
7.97% |
Class R-5
Return Before Taxes |
20.18% |
6.37% |
8.11% |
S&P Target Date 2025 Index
(reflects no deduction for fees, expenses, or taxes) |
18.39% |
6.73% |
8.13% |
• |
James W. Fennessey (since
2008), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2008),
Portfolio Manager |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.15% |
0.06% |
0.01% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
Total Annual
Fund Operating Expenses |
1.08% |
0.89% |
0.69% |
1.56% |
1.43% |
1.25% |
1.06% |
0.94% |
Expense Reimbursement
(1) |
(0.02)% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.06% |
0.89% |
0.69% |
1.56% |
1.43% |
1.25% |
1.06% |
0.94% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.38% for Class A shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$652 |
$873 |
$1,111 |
$1,793 |
Class
J |
191 |
284 |
493 |
1,096 |
Institutional
Class |
70 |
221 |
384 |
859 |
Class
R-1 |
159 |
493 |
850 |
1,856 |
Class
R-2 |
146 |
452 |
782 |
1,713 |
Class
R-3 |
127 |
397 |
686 |
1,511 |
Class
R-4 |
108 |
337 |
585 |
1,294 |
Class
R-5 |
96 |
300 |
520 |
1,155 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$91 |
$284 |
$493 |
$1,096 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
11.64 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(14.38 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
15.23% |
5.47% |
7.77% |
Class A
Return After Taxes on Distributions |
13.50% |
3.80% |
6.46% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
10.02% |
3.92% |
5.94% |
Class J
Return Before Taxes |
21.18% |
6.86% |
8.49% |
Institutional
Class Return Before Taxes |
22.39% |
7.07% |
8.79% |
Class R-1
Return Before Taxes |
21.35% |
6.13% |
7.84% |
Class R-2
Return Before Taxes |
21.53% |
6.28% |
7.99% |
Class R-3
Return Before Taxes |
21.67% |
6.47% |
8.18% |
Class R-4
Return Before Taxes |
22.00% |
6.68% |
8.38% |
Class R-5
Return Before Taxes |
22.08% |
6.79% |
8.51% |
S&P Target Date 2030 Index
(reflects no deduction for fees, expenses, or taxes) |
20.39% |
7.27% |
8.66% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5
| |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.01% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Acquired Fund Fees and
Expenses |
0.62% |
0.62% |
0.62% |
0.62% |
0.62% |
0.62% |
Total Annual
Fund Operating Expenses |
0.63% |
1.51% |
1.38% |
1.20% |
1.01% |
0.89% |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$64 |
$202 |
$351 |
$786 |
Class
R-1 |
154 |
477 |
824 |
1,802 |
Class
R-2 |
140 |
437 |
755 |
1,657 |
Class
R-3 |
122 |
381 |
660 |
1,455 |
Class
R-4 |
103 |
322 |
558 |
1,236 |
Class
R-5 |
91 |
284 |
493 |
1,096 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
12.36 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(15.22 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
23.47% |
7.43% |
9.15% |
Institutional
Class Return After Taxes on Distributions |
21.26% |
5.74% |
7.69% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
15.14% |
5.43% |
7.08% |
Class R-1
Return Before Taxes |
22.50% |
6.51% |
8.21% |
Class R-2
Return Before Taxes |
22.67% |
6.64% |
8.35% |
Class R-3
Return Before Taxes |
22.88% |
6.83% |
8.54% |
Class R-4
Return Before Taxes |
23.08% |
7.03% |
8.75% |
Class R-5
Return Before Taxes |
23.25% |
7.17% |
8.87% |
S&P Target Date 2035 Index
(reflects no deduction for fees, expenses, or taxes) |
22.19% |
7.77% |
9.13% |
• |
James W. Fennessey (since
2008), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2008),
Portfolio Manager |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.18% |
0.08% |
0.01% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.64% |
0.64% |
0.64% |
0.64% |
0.64% |
0.64% |
0.64% |
0.64% |
Total Annual
Fund Operating Expenses |
1.07% |
0.87% |
0.65% |
1.52% |
1.39% |
1.21% |
1.02% |
0.90% |
Expense Reimbursement
(1) |
(0.05)% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.02% |
0.87% |
0.65% |
1.52% |
1.39% |
1.21% |
1.02% |
0.90% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.38% for Class A shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$648 |
$867 |
$1,103 |
$1,780 |
Class
J |
189 |
278 |
482 |
1,073 |
Institutional
Class |
66 |
208 |
362 |
810 |
Class
R-1 |
155 |
480 |
829 |
1,813 |
Class
R-2 |
142 |
440 |
761 |
1,669 |
Class
R-3 |
123 |
384 |
665 |
1,466 |
Class
R-4 |
104 |
325 |
563 |
1,248 |
Class
R-5 |
92 |
287 |
498 |
1,108 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$89 |
$278 |
$482 |
$1,073 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
12.45 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(15.81 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
17.60% |
6.15% |
8.41% |
Class A
Return After Taxes on Distributions |
15.60% |
4.48% |
7.12% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
11.62% |
4.49% |
6.55% |
Class J
Return Before Taxes |
23.67% |
7.52% |
9.09% |
Institutional
Class Return Before Taxes |
24.89% |
7.75% |
9.43% |
Class R-1
Return Before Taxes |
23.90% |
6.82% |
8.48% |
Class R-2
Return Before Taxes |
23.96% |
6.95% |
8.61% |
Class R-3
Return Before Taxes |
24.28% |
7.15% |
8.82% |
Class R-4
Return Before Taxes |
24.53% |
7.36% |
9.02% |
Class R-5
Return Before Taxes |
24.60% |
7.48% |
9.15% |
S&P Target Date 2040 Index
(reflects no deduction for fees, expenses, or taxes) |
23.39% |
8.12% |
9.45% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5
| |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.01% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Acquired Fund Fees and
Expenses |
0.66% |
0.66% |
0.66% |
0.66% |
0.66% |
0.66% |
Total Annual
Fund Operating Expenses |
0.67% |
1.55% |
1.42% |
1.24% |
1.05% |
0.93% |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$68 |
$214 |
$373 |
$835 |
Class
R-1 |
158 |
490 |
845 |
1,845 |
Class
R-2 |
145 |
449 |
776 |
1,702 |
Class
R-3 |
126 |
393 |
681 |
1,500 |
Class
R-4 |
107 |
334 |
579 |
1,283 |
Class
R-5 |
95 |
296 |
515 |
1,143 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
12.94 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(16.15 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
25.79% |
7.95% |
9.63% |
Institutional
Class Return After Taxes on Distributions |
23.71% |
6.23% |
8.15% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
16.55% |
5.75% |
7.41% |
Class R-1
Return Before Taxes |
24.71% |
7.02% |
8.67% |
Class R-2
Return Before Taxes |
24.89% |
7.16% |
8.81% |
Class R-3
Return Before Taxes |
25.10% |
7.35% |
9.01% |
Class R-4
Return Before Taxes |
25.35% |
7.56% |
9.22% |
Class R-5
Return Before Taxes |
25.56% |
7.69% |
9.36% |
S&P Target Date 2045 Index
(reflects no deduction for fees, expenses, or taxes) |
24.04% |
8.33% |
9.67% |
• |
James W. Fennessey (since
2008), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2008),
Portfolio Manager |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.25% |
0.12% |
0.01% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.67% |
0.67% |
0.67% |
0.67% |
0.67% |
0.67% |
0.67% |
0.67% |
Total Annual
Fund Operating Expenses |
1.17% |
0.94% |
0.68% |
1.55% |
1.42% |
1.24% |
1.05% |
0.93% |
Expense Reimbursement
(1) |
(0.12)% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.05% |
0.94% |
0.68% |
1.55% |
1.42% |
1.24% |
1.05% |
0.93% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.38% for Class A shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$651 |
$890 |
$1,147 |
$1,882 |
Class
J |
196 |
300 |
520 |
1,155 |
Institutional
Class |
69 |
218 |
379 |
847 |
Class
R-1 |
158 |
490 |
845 |
1,845 |
Class
R-2 |
145 |
449 |
776 |
1,702 |
Class
R-3 |
126 |
393 |
681 |
1,500 |
Class
R-4 |
107 |
334 |
579 |
1,283 |
Class
R-5 |
95 |
296 |
515 |
1,143 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$96 |
$300 |
$520 |
$1,155 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
13.02 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(16.76 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
19.30% |
6.55% |
8.78% |
Class A
Return After Taxes on Distributions |
17.40% |
5.05% |
7.56% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
12.65% |
4.85% |
6.87% |
Class J
Return Before Taxes |
25.40% |
7.87% |
9.36% |
Institutional
Class Return Before Taxes |
26.65% |
8.16% |
9.80% |
Class R-1
Return Before Taxes |
25.62% |
7.22% |
8.85% |
Class R-2
Return Before Taxes |
25.78% |
7.37% |
8.99% |
Class R-3
Return Before Taxes |
26.04% |
7.57% |
9.19% |
Class R-4
Return Before Taxes |
26.18% |
7.77% |
9.40% |
Class R-5
Return Before Taxes |
26.34% |
7.88% |
9.52% |
S&P Target Date 2050 Index
(reflects no deduction for fees, expenses, or taxes) |
24.37% |
8.49% |
9.84% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | ||||||
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5
| |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.02% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Acquired Fund Fees and
Expenses |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
Total Annual
Fund Operating Expenses |
0.70% |
1.57% |
1.44% |
1.26% |
1.07% |
0.95% |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$72 |
$224 |
$390 |
$871 |
Class
R-1 |
160 |
496 |
855 |
1,867 |
Class
R-2 |
147 |
456 |
787 |
1,724 |
Class
R-3 |
128 |
400 |
692 |
1,523 |
Class
R-4 |
109 |
340 |
590 |
1,306 |
Class
R-5 |
97 |
303 |
525 |
1,166 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
13.01 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(17.02 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
27.24% |
8.28% |
9.79% |
Institutional
Class Return After Taxes on Distributions |
25.48% |
6.90% |
8.58% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
17.35% |
6.18% |
7.69% |
Class R-1
Return Before Taxes |
26.16% |
7.36% |
8.85% |
Class R-2
Return Before Taxes |
26.26% |
7.49% |
8.99% |
Class R-3
Return Before Taxes |
26.59% |
7.70% |
9.19% |
Class R-4
Return Before Taxes |
26.87% |
7.90% |
9.40% |
Class R-5
Return Before Taxes |
26.93% |
8.02% |
9.52% |
S&P Target Date 2055 Index
(reflects no deduction for fees, expenses, or taxes) |
24.50% |
8.58% |
9.99% |
• |
James W. Fennessey (since
2008), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2008),
Portfolio Manager |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.49% |
0.03% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Acquired Fund Fees and
Expenses |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
Total Annual
Fund Operating Expenses |
1.32% |
0.71% |
1.57% |
1.44% |
1.26% |
1.07% |
0.95% |
Expense Reimbursement
(1) |
(0.26)% |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.06% |
0.71% |
1.57% |
1.44% |
1.26% |
1.07% |
0.95% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.38% for Class J shares. It is expected that the expense limit
will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$208 |
$393 |
$699 |
$1,568 |
Institutional
Class |
73 |
227 |
395 |
883 |
Class
R-1 |
160 |
496 |
855 |
1,867 |
Class
R-2 |
147 |
456 |
787 |
1,724 |
Class
R-3 |
128 |
400 |
692 |
1,523 |
Class
R-4 |
109 |
340 |
590 |
1,306 |
Class
R-5 |
97 |
303 |
525 |
1,166 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$108 |
$393 |
$699 |
$1,568 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
13.13 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(13.83 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
27.52% |
8.29% |
9.75% |
Institutional
Class Return After Taxes on Distributions |
25.81% |
7.18% |
8.69% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
17.49% |
6.32% |
7.57% |
Class J
Return Before Taxes |
26.02% |
7.94% |
9.40% |
Class R-1
Return Before Taxes |
26.39% |
7.37% |
8.82% |
Class R-2
Return Before Taxes |
26.55% |
7.51% |
8.96% |
Class R-3
Return Before Taxes |
26.86% |
7.70% |
9.19% |
Class R-4
Return Before Taxes |
27.08% |
7.91% |
9.37% |
Class R-5
Return Before Taxes |
27.14% |
8.02% |
9.49% |
S&P Target Date 2060+ Index
(reflects no deduction for fees, expenses, or taxes) |
24.75% |
8.68% |
9.92% |
• |
James W. Fennessey (since
2013), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2013),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Share
Class | ||||||
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.36% |
0.72% |
0.64% |
0.51% |
0.47% |
0.45% |
Acquired Fund Fees and
Expenses |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
Total Annual
Fund Operating Expenses |
1.04% |
1.75% |
1.62% |
1.44% |
1.25% |
1.13% |
Expense Reimbursement
(1) |
(0.28)% |
(0.14)% |
(0.14)% |
(0.14)% |
(0.14)% |
(0.14)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.76% |
1.61% |
1.48% |
1.30% |
1.11% |
0.99% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.08% for Institutional Class, 0.93% for Class R-1, 0.80% for
Class R-2, 0.62% for Class R-3, 0.43% for Class R-4 and 0.31% for Class
R-5 shares. It is expected that the expense limits will continue through
the period ending February 28, 2021; however, Principal Funds, Inc. and
PGI, the parties to the agreement, may mutually agree to terminate the
expense limits prior to the end of the period. Subject to applicable
expense limits, the Fund may reimburse PGI for expenses incurred during
the current fiscal year. |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$78 |
$303 |
$547 |
$1,246 |
Class
R-1 |
164 |
537 |
936 |
2,051 |
Class
R-2 |
151 |
497 |
868 |
1,910 |
Class
R-3 |
132 |
442 |
774 |
1,712 |
Class
R-4 |
113 |
383 |
673 |
1,499 |
Class
R-5 |
101 |
345 |
609 |
1,362 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options. Options involve specific risks, including:
imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
13.04 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(13.84 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2019 |
1
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
27.35% |
9.88% |
Institutional
Class Return After Taxes on Distributions |
26.23% |
8.72% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
17.01% |
7.37% |
Class R-1
Return Before Taxes |
26.28% |
8.99% |
Class R-2
Return Before Taxes |
26.44% |
9.11% |
Class R-3
Return Before Taxes |
26.71% |
9.33% |
Class R-4
Return Before Taxes |
26.91% |
9.54% |
Class R-5
Return Before Taxes |
27.08% |
9.72% |
S&P Target Date 2060+ Index
(reflects no deduction for fees, expenses, or taxes) |
24.75% |
9.74% |
• |
James W. Fennessey (since
2017), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2017),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
Objective: |
The Fund seeks current income,
and as a secondary objective, capital
appreciation. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.57% |
0.20% |
0.38% |
0.32% |
0.11% |
Acquired Fund Fees and
Expenses |
0.32% |
0.32% |
0.32% |
0.32% |
0.32% |
Total Annual
Fund Operating Expenses |
1.04% |
0.52% |
0.95% |
0.64% |
0.43% |
Expense Reimbursement
(1) |
(0.42)% |
(0.15)% |
(0.04)% |
(0.04)% |
(0.09)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.62% |
0.37% |
0.91% |
0.60% |
0.34% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$163 |
$289 |
$533 |
$1,233 |
Institutional
Class |
38 |
152 |
276 |
638 |
Class
R-3 |
93 |
299 |
522 |
1,163 |
Class
R-5 |
61 |
201 |
353 |
795 |
Class
R-6 |
35 |
129 |
232 |
533 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$63 |
$289 |
$533 |
$1,233 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
5.16 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(3.31 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
11.82% |
4.14% |
4.21% |
Institutional
Class Return After Taxes on Distributions |
10.67% |
3.35% |
3.13% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
7.16% |
2.89% |
2.81% |
Class J
Return Before Taxes |
10.63% |
3.90% |
3.98% |
Class R-3
Return Before Taxes |
11.26% |
3.59% |
3.66% |
Class R-5
Return Before Taxes |
11.62% |
3.91% |
3.99% |
Class R-6
Return Before Taxes |
11.91% |
4.17% |
4.25% |
S&P Target Date Retirement
Income Index (reflects no deduction for fees, expenses, or
taxes) |
13.34% |
4.68% |
4.74% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.29% |
0.13% |
0.35% |
0.29% |
0.06% |
Acquired Fund Fees and
Expenses |
0.33% |
0.33% |
0.33% |
0.33% |
0.33% |
Total Annual
Fund Operating Expenses |
0.77% |
0.46% |
0.93% |
0.62% |
0.39% |
Expense Reimbursement
(1) |
(0.14)% |
(0.08)% |
(0.01)% |
(0.01)% |
(0.04)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.63% |
0.38% |
0.92% |
0.61% |
0.35% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$164 |
$232 |
$414 |
$941 |
Institutional
Class |
39 |
140 |
250 |
571 |
Class
R-3 |
94 |
295 |
514 |
1,142 |
Class
R-5 |
62 |
198 |
345 |
773 |
Class
R-6 |
36 |
121 |
215 |
489 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$64 |
$232 |
$414 |
$941 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
6.88 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(6.15 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
15.18% |
5.41% |
5.57% |
Institutional
Class Return After Taxes on Distributions |
14.05% |
4.62% |
4.51% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
9.28% |
3.94% |
3.95% |
Class J
Return Before Taxes |
14.01% |
5.17% |
5.34% |
Class R-3
Return Before Taxes |
14.52% |
4.84% |
5.00% |
Class R-5
Return Before Taxes |
14.85% |
5.16% |
5.32% |
Class R-6
Return Before Taxes |
15.17% |
5.45% |
5.61% |
S&P Target Date 2015 Index
(reflects no deduction for fees, expenses, or taxes) |
15.41% |
5.67% |
5.76% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.16% |
0.06% |
0.34% |
0.28% |
0.02% |
Acquired Fund Fees and
Expenses |
0.33% |
0.33% |
0.33% |
0.33% |
0.33% |
Total Annual
Fund Operating Expenses |
0.64% |
0.39% |
0.92% |
0.61% |
0.35% |
Expense Reimbursement
(1) |
(0.01)% |
(0.01)% |
—% |
—% |
—% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.63% |
0.38% |
0.92% |
0.61% |
0.35% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$164 |
$204 |
$356 |
$797 |
Institutional
Class |
39 |
124 |
218 |
492 |
Class
R-3 |
94 |
293 |
509 |
1,131 |
Class
R-5 |
62 |
195 |
340 |
762 |
Class
R-6 |
36 |
113 |
197 |
443 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$64 |
$204 |
$356 |
$797 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
7.84 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(7.60 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
17.17% |
6.07% |
6.28% |
Institutional
Class Return After Taxes on Distributions |
16.08% |
5.25% |
5.20% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
10.53% |
4.49% |
4.55% |
Class J
Return Before Taxes |
16.07% |
5.82% |
6.03% |
Class R-3
Return Before Taxes |
16.71% |
5.54% |
5.74% |
Class R-5
Return Before Taxes |
16.99% |
5.85% |
6.06% |
Class R-6
Return Before Taxes |
17.21% |
6.09% |
6.30% |
S&P Target Date 2020 Index
(reflects no deduction for fees, expenses, or taxes) |
16.53% |
6.16% |
6.25% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.16% |
0.07% |
0.34% |
0.28% |
0.04% |
Acquired Fund Fees and
Expenses |
0.33% |
0.33% |
0.33% |
0.33% |
0.33% |
Total Annual
Fund Operating Expenses |
0.64% |
0.40% |
0.92% |
0.61% |
0.37% |
Expense Reimbursement
(1) |
(0.01)% |
(0.02)% |
—% |
—% |
(0.02)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.63% |
0.38% |
0.92% |
0.61% |
0.35% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$164 |
$204 |
$356 |
$797 |
Institutional
Class |
39 |
126 |
222 |
503 |
Class
R-3 |
94 |
293 |
509 |
1,131 |
Class
R-5 |
62 |
195 |
340 |
762 |
Class
R-6 |
36 |
117 |
206 |
466 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$64 |
$204 |
$356 |
$797 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
8.81 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(9.09 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
19.24% |
6.62% |
6.87% |
Institutional
Class Return After Taxes on Distributions |
18.13% |
5.79% |
5.77% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
11.85% |
4.92% |
5.01% |
Class J
Return Before Taxes |
17.92% |
6.37% |
6.62% |
Class R-3
Return Before Taxes |
18.60% |
6.05% |
6.30% |
Class R-5
Return Before Taxes |
18.95% |
6.38% |
6.63% |
Class R-6
Return Before Taxes |
19.15% |
6.64% |
6.88% |
S&P Target Date 2025 Index
(reflects no deduction for fees, expenses, or taxes) |
18.39% |
6.73% |
6.78% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.22% |
0.05% |
0.33% |
0.27% |
0.03% |
Acquired Fund Fees and
Expenses |
0.34% |
0.34% |
0.34% |
0.34% |
0.34% |
Total Annual
Fund Operating Expenses |
0.71% |
0.39% |
0.92% |
0.61% |
0.37% |
Expense Reimbursement
(1) |
(0.07)% |
—% |
—% |
—% |
(0.01)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.64% |
0.39% |
0.92% |
0.61% |
0.36% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$165 |
$220 |
$388 |
$876 |
Institutional
Class |
40 |
125 |
219 |
493 |
Class
R-3 |
94 |
293 |
509 |
1,131 |
Class
R-5 |
62 |
195 |
340 |
762 |
Class
R-6 |
37 |
118 |
207 |
467 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$65 |
$220 |
$388 |
$876 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Forward
Contracts, Futures and Swaps. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
9.64 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(10.31 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
20.91% |
7.12% |
7.39% |
Institutional
Class Return After Taxes on Distributions |
19.72% |
6.14% |
6.17% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
12.96% |
5.22% |
5.36% |
Class J
Return Before Taxes |
19.59% |
6.84% |
7.12% |
Class R-3
Return Before Taxes |
20.24% |
6.54% |
6.82% |
Class R-5
Return Before Taxes |
20.57% |
6.86% |
7.14% |
Class R-6
Return Before Taxes |
20.96% |
7.12% |
7.39% |
S&P Target Date 2030 Index
(reflects no deduction for fees, expenses, or taxes) |
20.39% |
7.27% |
7.30% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.25% |
0.08% |
0.35% |
0.29% |
0.05% |
Acquired Fund Fees and
Expenses |
0.35% |
0.35% |
0.35% |
0.35% |
0.35% |
Total Annual
Fund Operating Expenses |
0.75% |
0.43% |
0.95% |
0.64% |
0.40% |
Expense Reimbursement
(1) |
(0.10)% |
(0.03)% |
(0.01)% |
(0.01)% |
(0.03)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.65% |
0.40% |
0.94% |
0.63% |
0.37% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$166 |
$230 |
$407 |
$921 |
Institutional
Class |
41 |
135 |
238 |
539 |
Class
R-3 |
96 |
302 |
525 |
1,165 |
Class
R-5 |
64 |
204 |
356 |
797 |
Class
R-6 |
38 |
125 |
221 |
502 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$66 |
$230 |
$407 |
$921 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options. Options involve specific risks, including:
imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
10.57 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(11.35 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
22.68% |
7.59% |
7.88% |
Institutional
Class Return After Taxes on Distributions |
21.51% |
6.80% |
6.85% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
14.05% |
5.77% |
5.92% |
Class J
Return Before Taxes |
21.36% |
7.32% |
7.61% |
Class R-3
Return Before Taxes |
22.02% |
7.01% |
7.30% |
Class R-5
Return Before Taxes |
22.49% |
7.36% |
7.65% |
Class R-6
Return Before Taxes |
22.79% |
7.63% |
7.92% |
S&P Target Date 2035 Index
(reflects no deduction for fees, expenses, or taxes) |
22.19% |
7.77% |
7.79% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share Class
| |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.27% |
0.06% |
0.34% |
0.28% |
0.04% |
Acquired Fund Fees and
Expenses |
0.36% |
0.36% |
0.36% |
0.36% |
0.36% |
Total Annual
Fund Operating Expenses |
0.78% |
0.42% |
0.95% |
0.64% |
0.40% |
Expense Reimbursement
(1) |
(0.12)% |
(0.01)% |
—% |
—% |
(0.02)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.66% |
0.41% |
0.95% |
0.64% |
0.38% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$167 |
$237 |
$421 |
$955 |
Institutional
Class |
42 |
134 |
234 |
529 |
Class
R-3 |
97 |
303 |
525 |
1,166 |
Class
R-5 |
65 |
205 |
357 |
798 |
Class
R-6 |
39 |
126 |
222 |
503 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$67 |
$237 |
$421 |
$955 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
11.15 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(12.25 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
23.85% |
7.93% |
8.22% |
Institutional
Class Return After Taxes on Distributions |
22.66% |
7.11% |
7.17% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
14.81% |
6.06% |
6.22% |
Class J
Return Before Taxes |
22.53% |
7.66% |
7.95% |
Class R-3
Return Before Taxes |
23.21% |
7.36% |
7.65% |
Class R-5
Return Before Taxes |
23.56% |
7.69% |
7.98% |
Class R-6
Return Before Taxes |
23.95% |
7.97% |
8.27% |
S&P Target Date 2040 Index
(reflects no deduction for fees, expenses, or taxes) |
23.39% |
8.12% |
8.13% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share Class
| |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.45% |
0.11% |
0.36% |
0.30% |
0.07% |
Acquired Fund Fees and
Expenses |
0.37% |
0.37% |
0.37% |
0.37% |
0.37% |
Total Annual
Fund Operating Expenses |
0.97% |
0.48% |
0.98% |
0.67% |
0.44% |
Expense Reimbursement
(1) |
(0.30)% |
(0.06)% |
(0.02)% |
(0.02)% |
(0.05)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.67% |
0.42% |
0.96% |
0.65% |
0.39% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$168 |
$279 |
$507 |
$1,162 |
Institutional
Class |
43 |
148 |
263 |
598 |
Class
R-3 |
98 |
310 |
540 |
1,200 |
Class
R-5 |
66 |
212 |
371 |
833 |
Class
R-6 |
40 |
136 |
241 |
550 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$68 |
$279 |
$507 |
$1,162 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
11.57 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(12.93 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
24.78% |
8.11% |
8.42% |
Institutional
Class Return After Taxes on Distributions |
23.68% |
7.34% |
7.41% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
15.36% |
6.23% |
6.40% |
Class J
Return Before Taxes |
23.56% |
7.85% |
8.15% |
Class R-3
Return Before Taxes |
24.07% |
7.53% |
7.83% |
Class R-5
Return Before Taxes |
24.49% |
7.87% |
8.17% |
Class R-6
Return Before Taxes |
24.78% |
8.14% |
8.44% |
S&P Target Date 2045 Index
(reflects no deduction for fees, expenses, or taxes) |
24.04% |
8.33% |
8.33% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share Class
| |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
0.54% |
0.09% |
0.36% |
0.30% |
0.09% |
Acquired Fund Fees and
Expenses |
0.37% |
0.37% |
0.37% |
0.37% |
0.37% |
Total Annual
Fund Operating Expenses |
1.06% |
0.46% |
0.98% |
0.67% |
0.46% |
Expense Reimbursement
(1) |
(0.39)% |
(0.04)% |
(0.02)% |
(0.02)% |
(0.07)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.67% |
0.42% |
0.96% |
0.65% |
0.39% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$168 |
$298 |
$547 |
$1,259 |
Institutional
Class |
43 |
144 |
254 |
575 |
Class
R-3 |
98 |
310 |
540 |
1,200 |
Class
R-5 |
66 |
212 |
371 |
833 |
Class
R-6 |
40 |
141 |
251 |
572 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$68 |
$298 |
$547 |
$1,259 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
12.03 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(13.51 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
25.58% |
8.38% |
8.67% |
Institutional
Class Return After Taxes on Distributions |
24.36% |
7.53% |
7.60% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
15.95% |
6.41% |
6.57% |
Class J
Return Before Taxes |
24.22% |
8.14% |
8.42% |
Class R-3
Return Before Taxes |
24.80% |
7.79% |
8.07% |
Class R-5
Return Before Taxes |
25.19% |
8.12% |
8.41% |
Class R-6
Return Before Taxes |
25.60% |
8.39% |
8.68% |
S&P Target Date 2050 Index
(reflects no deduction for fees, expenses, or taxes) |
24.37% |
8.49% |
8.49% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share Class
| |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
1.48% |
0.26% |
0.42% |
0.36% |
0.24% |
Acquired Fund Fees and
Expenses |
0.38% |
0.38% |
0.38% |
0.38% |
0.38% |
Total Annual
Fund Operating Expenses |
2.01% |
0.64% |
1.05% |
0.74% |
0.62% |
Expense Reimbursement
(1) |
(1.33)% |
(0.21)% |
(0.08)% |
(0.08)% |
(0.22)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.68% |
0.43% |
0.97% |
0.66% |
0.40% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$169 |
$501 |
$960 |
$2,231 |
Institutional
Class |
44 |
184 |
336 |
778 |
Class
R-3 |
99 |
326 |
572 |
1,275 |
Class
R-5 |
67 |
229 |
404 |
911 |
Class
R-6 |
41 |
176 |
324 |
753 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$69 |
$501 |
$960 |
$2,231 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
12.32 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(13.94 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
26.16% |
8.50% |
8.80% |
Institutional
Class Return After Taxes on Distributions |
25.12% |
7.76% |
7.84% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
16.19% |
6.56% |
6.74% |
Class J
Return Before Taxes |
24.96% |
8.25% |
8.54% |
Class R-3
Return Before Taxes |
25.49% |
7.92% |
8.22% |
Class R-5
Return Before Taxes |
25.87% |
8.26% |
8.56% |
Class R-6
Return Before Taxes |
26.23% |
8.53% |
8.83% |
S&P Target Date 2055 Index
(reflects no deduction for fees, expenses, or taxes) |
24.50% |
8.58% |
8.58% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks a total return
consisting of long-term growth of capital and current
income. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share Class
| |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
3.77% |
0.75% |
0.61% |
0.55% |
0.71% |
Acquired Fund Fees and
Expenses |
0.38% |
0.38% |
0.38% |
0.38% |
0.38% |
Total Annual
Fund Operating Expenses |
4.30% |
1.13% |
1.24% |
0.93% |
1.09% |
Expense Reimbursement
(1) |
(3.62)% |
(0.70)% |
(0.27)% |
(0.27)% |
(0.69)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.68% |
0.43% |
0.97% |
0.66% |
0.40% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$169 |
$973 |
$1,889 |
$4,236 |
Institutional
Class |
44 |
290 |
554 |
1,312 |
Class
R-3 |
99 |
367 |
655 |
1,476 |
Class
R-5 |
67 |
269 |
488 |
1,118 |
Class
R-6 |
41 |
278 |
534 |
1,267 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$69 |
$973 |
$1,889 |
$4,236 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies. |
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the
fund. |
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
12.47 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(14.17 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
26.45% |
8.63% |
8.92% |
Institutional
Class Return After Taxes on Distributions |
25.36% |
7.77% |
7.85% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
16.41% |
6.53% |
6.70% |
Class J
Return Before Taxes |
25.20% |
8.36% |
8.65% |
Class R-3
Return Before Taxes |
25.88% |
8.06% |
8.36% |
Class R-5
Return Before Taxes |
26.29% |
8.40% |
8.70% |
Class R-6
Return Before Taxes |
26.61% |
8.67% |
8.96% |
S&P Target Date 2060+ Index
(reflects no deduction for fees, expenses, or taxes) |
24.75% |
8.68% |
8.67% |
• |
James W. Fennessey (since
2014), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Share
Class | |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
None |
None |
None |
None |
Share Class
| |||||
J |
Inst. |
R-3 |
R-5 |
R-6 | |
Management Fees
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.25% |
N/A |
N/A |
Other Expenses |
7.58% |
11.29% |
2.53% |
2.47% |
3.17% |
Acquired Fund Fees and Expenses
|
0.41% |
0.41% |
0.41% |
0.41% |
0.41% |
Total Annual
Fund Operating Expenses |
8.14% |
11.70% |
3.19% |
2.88% |
3.58% |
Expense Reimbursement
(1) |
(7.43)% |
(11.24)% |
(2.19)% |
(2.19)% |
(3.15)% |
Total Annual
Fund Operating Expenses After Expense Reimbursement |
0.71% |
0.46% |
1.00% |
0.69% |
0.43% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.30% for Class J, 0.05% for Institutional Class, 0.59% for
Class R-3 and 0.28% for Class R-5 shares. In addition, for Class R-6
shares, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal
year. |
1
year |
3
years |
5
years |
10
years | |
Class J
|
$173 |
$1,717 |
$3,261 |
$6,714 |
Institutional
Class |
47 |
2,332 |
4,321 |
8,239 |
Class
R-3 |
102 |
778 |
1,478 |
3,342 |
Class
R-5 |
70 |
684 |
1,324 |
3,046 |
Class
R-6 |
44 |
803 |
1,584 |
3,636 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$73 |
$1,717 |
$3,261 |
$6,714 |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
12.64 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(14.41 |
)% |
Average
Annual Total Returns |
||||
For the
periods ended December 31, 2019 |
1
Year |
Life of
Fund |
||
Institutional
Class Return Before Taxes |
27.01% |
9.31% |
||
Institutional
Class Return After Taxes on Distributions |
26.53% |
8.43% |
||
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
16.35% |
6.97% |
||
Class J
Return Before Taxes |
25.63% |
9.02% |
||
Class R-3
Return Before Taxes |
26.25% |
8.69% |
||
Class R-5
Return Before Taxes |
26.64% |
9.03% |
||
Class R-6
Return Before Taxes |
31.45% |
(1) |
9.37% |
(1)(2) |
S&P Target Date 2060+ Index
(reflects no deduction for fees, expenses, or taxes) |
24.75% |
9.74% |
• |
James W. Fennessey (since
2017), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Randy L. Welch (since 2017),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to generate a
total return. |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.21% |
0.25% |
0.22% |
0.13% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
0.01% |
Total Annual
Fund Operating Expenses |
1.26% |
2.05% |
1.17% |
0.93% |
1.69% |
1.56% |
1.38% |
1.19% |
1.07% |
0.81% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
(0.02)% |
N/A |
N/A |
N/A |
N/A |
N/A |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.26% |
2.05% |
1.17% |
0.91% |
1.69% |
1.56% |
1.38% |
1.19% |
1.07% |
0.81% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.91% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$671 |
$928 |
$1,204 |
$1,989 |
Class
C |
308 |
643 |
1,103 |
2,379 |
Class
J |
219 |
372 |
644 |
1,420 |
Institutional
Class |
93 |
294 |
513 |
1,141 |
Class
R-1 |
172 |
533 |
918 |
1,998 |
Class
R-2 |
159 |
493 |
850 |
1,856 |
Class
R-3 |
140 |
437 |
755 |
1,657 |
Class
R-4 |
121 |
378 |
654 |
1,443 |
Class
R-5 |
109 |
340 |
590 |
1,306 |
Class
R-6 |
83 |
259 |
450 |
1,002 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$208 |
$643 |
$1,103 |
$2,379 |
Class
J |
119 |
372 |
644 |
1,420 |
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
• |
Real
Estate. A fund concentrating in
the real estate industry is subject to the risks associated with direct
ownership of real estate, securities of companies in the real estate
industry, and/or real estate investment trusts.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
17.29 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(15.44 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
23.44% |
6.97% |
11.70% |
Class A
Return After Taxes on Distributions |
22.46% |
5.73% |
10.42% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
14.25% |
5.06% |
9.22% |
Class C
Return Before Taxes |
28.65% |
7.35% |
11.45% |
Class J
Return Before Taxes |
29.83% |
8.34% |
12.42% |
Institutional
Class Return Before Taxes |
31.13% |
8.60% |
12.82% |
Class R-1
Return Before Taxes |
30.06% |
7.73% |
11.89% |
Class R-2
Return Before Taxes |
30.24% |
7.86% |
12.04% |
Class R-3
Return Before Taxes |
30.46% |
8.07% |
12.24% |
Class R-4
Return Before Taxes |
30.73% |
8.27% |
12.45% |
Class R-5
Return Before Taxes |
30.92% |
8.41% |
12.59% |
Class R-6
Return Before Taxes |
31.21% |
8.44% |
12.43% |
MSCI US REIT Index (reflects no
deduction for fees, expenses, or taxes) |
25.86% |
7.04% |
11.93% |
• |
Kelly D. Rush (since 2000),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Portfolio seeks to provide
as high a level of total return (consisting of reinvested income and
capital appreciation) as is consistent with reasonable risk.
|
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.09% |
0.10% |
0.04% |
0.01% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.61% |
0.61% |
0.61% |
0.61% |
0.61% |
0.61% |
0.61% |
0.61% |
0.61% |
Total Annual
Fund Operating Expenses |
1.23% |
1.99% |
1.08% |
0.90% |
1.77% |
1.64% |
1.46% |
1.27% |
1.15% |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$668 |
$919 |
$1,188 |
$1,957 |
Class
C |
302 |
624 |
1,073 |
2,317 |
Class
J |
210 |
343 |
595 |
1,317 |
Institutional
Class |
92 |
287 |
498 |
1,108 |
Class
R-1 |
180 |
557 |
959 |
2,084 |
Class
R-2 |
167 |
517 |
892 |
1,944 |
Class
R-3 |
149 |
462 |
797 |
1,746 |
Class
R-4 |
129 |
403 |
697 |
1,534 |
Class
R-5 |
117 |
365 |
633 |
1,398 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$202 |
$624 |
$1,073 |
$2,317 |
Class
J |
110 |
343 |
595 |
1,317 |
• |
between 20% and 60% of its
assets in fixed-income funds, and less than 40% in any one fixed-income
fund; such funds generally invest in fixed income instruments such as real
estate securities, securitized products, government and
government-sponsored securities, and corporate
bonds; |
• |
between 40% and 80% of its
assets in equity funds, and less than 30% in any one equity fund; such
funds generally invest in equity securities of domestic and foreign
companies, including small, medium and large market capitalization
companies, and growth and value stock;
and |
• |
less than 20% of its assets in
specialty funds, and less than 20% in any one specialty fund; such funds
generally offer unique combinations of traditional equity securities and
fixed-income securities or use alternative investment strategies that aim
to offer diversification beyond traditional equity and fixed-income
securities and include investments in such assets as infrastructure,
commodities, currencies, and natural resources companies.
|
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
9.15 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(10.54 |
)% |
Average
Annual Total Returns |
|||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
12.99% |
5.16% |
7.42% |
Class A
Return After Taxes on Distributions |
11.80% |
3.48% |
6.15% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
8.32% |
3.68% |
5.68% |
Class C
Return Before Taxes |
17.71% |
5.57% |
7.23% |
Class J
Return Before Taxes |
18.77% |
6.53% |
8.10% |
Institutional
Class Return Before Taxes |
19.93% |
6.71% |
8.39% |
Class R-1
Return Before Taxes |
18.94% |
5.80% |
7.45% |
Class R-2
Return Before Taxes |
19.06% |
5.93% |
7.59% |
Class R-3
Return Before Taxes |
19.25% |
6.12% |
7.78% |
Class R-4
Return Before Taxes |
19.57% |
6.33% |
7.99% |
Class R-5
Return Before Taxes |
19.66% |
6.45% |
8.12% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
31.04% |
11.24% |
13.42% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
8.72% |
3.05% |
3.75% |
MSCI EAFE Index NTR (reflects
withholding taxes on foreign dividends, but no deduction for fees,
expenses, or other taxes) |
22.03% |
5.67% |
5.50% |
SAM Balanced Blended Index
(except as noted for MSCI EAFE Index NTR, reflects no deduction for fees,
expenses, or taxes) |
20.65% |
7.30% |
8.55% |
• |
Todd A. Jablonski (since
2010), Portfolio Manager |
• |
Gregory L. Tornga (since
2017), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Portfolio seeks to provide
a high level of total return (consisting of reinvestment of income and
capital appreciation), consistent with a moderate degree of principal
risk. |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.10% |
0.10% |
0.04% |
0.02% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
Total Annual
Fund Operating Expenses |
1.23% |
1.98% |
1.07% |
0.90% |
1.76% |
1.63% |
1.45% |
1.26% |
1.14% |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$668 |
$919 |
$1,188 |
$1,957 |
Class
C |
301 |
621 |
1,068 |
2,306 |
Class
J |
209 |
340 |
590 |
1,306 |
Institutional
Class |
92 |
287 |
498 |
1,108 |
Class
R-1 |
179 |
554 |
954 |
2,073 |
Class
R-2 |
166 |
514 |
887 |
1,933 |
Class
R-3 |
148 |
459 |
792 |
1,735 |
Class
R-4 |
128 |
400 |
692 |
1,523 |
Class
R-5 |
116 |
362 |
628 |
1,386 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$201 |
$621 |
$1,068 |
$2,306 |
Class
J |
109 |
340 |
590 |
1,306 |
• |
between 40% and 80% of its
assets in fixed-income funds, and less than 40% in any one fixed-income
fund; such funds generally invest in fixed income instruments such as high
yield securities (or “junk” bonds), real estate securities, securitized
products, government and government-sponsored securities, and corporate
bonds; |
• |
between 20% and 60% of its
assets in equity funds, and less than 30% in any one equity fund; such
funds generally invest in equity securities of domestic and foreign
companies, including small, medium and large market capitalization
companies, and growth and value stock; and
|
• |
less than 20% of its assets in
specialty funds, and less than 20% in any one specialty fund; such funds
generally offer unique combinations of traditional equity securities and
fixed-income securities or use alternative investment strategies that aim
to offer diversification beyond traditional equity and fixed-income
securities and include investments in such assets as infrastructure,
commodities, currencies, and natural resources
companies. |
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
7.11 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(7.34 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
9.11% |
3.98% |
5.99% |
Class A
Return After Taxes on Distributions |
8.01% |
2.52% |
4.71% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
5.79% |
2.69% |
4.38% |
Class C
Return Before Taxes |
13.58% |
4.37% |
5.78% |
Class J
Return Before Taxes |
14.75% |
5.32% |
6.65% |
Institutional
Class Return Before Taxes |
15.85% |
5.50% |
6.93% |
Class R-1
Return Before Taxes |
14.85% |
4.59% |
6.01% |
Class R-2
Return Before Taxes |
14.97% |
4.72% |
6.14% |
Class R-3
Return Before Taxes |
15.26% |
4.91% |
6.34% |
Class R-4
Return Before Taxes |
15.50% |
5.11% |
6.54% |
Class R-5
Return Before Taxes |
15.69% |
5.24% |
6.67% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
8.72% |
3.05% |
3.75% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
31.04% |
11.24% |
13.42% |
MSCI EAFE Index NTR (reflects
withholding taxes on foreign dividends, but no deduction for fees,
expenses, or other taxes) |
22.03% |
5.67% |
5.50% |
SAM Conservative Balanced
Blended Index (except as noted for MSCI EAFE Index NTR, reflects no
deduction for fees, expenses, or taxes) |
16.63% |
5.93% |
7.01% |
• |
Todd A. Jablonski (since
2010), Portfolio Manager |
• |
Gregory L. Tornga (since
2017), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Portfolio seeks to provide
long-term capital appreciation.
|
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.10% |
0.11% |
0.05% |
0.02% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
0.60% |
Total Annual
Fund Operating Expenses |
1.23% |
1.99% |
1.08% |
0.90% |
1.76% |
1.63% |
1.45% |
1.26% |
1.14% |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$668 |
$919 |
$1,188 |
$1,957 |
Class
C |
302 |
624 |
1,073 |
2,317 |
Class
J |
210 |
343 |
595 |
1,317 |
Institutional
Class |
92 |
287 |
498 |
1,108 |
Class
R-1 |
179 |
554 |
954 |
2,073 |
Class
R-2 |
166 |
514 |
887 |
1,933 |
Class
R-3 |
148 |
459 |
792 |
1,735 |
Class
R-4 |
128 |
400 |
692 |
1,523 |
Class
R-5 |
116 |
362 |
628 |
1,386 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$202 |
$624 |
$1,073 |
$2,317 |
Class
J |
110 |
343 |
595 |
1,317 |
• |
between 0% and 40% of its
assets in fixed-income funds, and less than 30% in any one fixed-income
fund; such funds generally invest in fixed-income instruments such as
government and government-sponsored securities and corporate
bonds; |
• |
between 60% and 100% of its
assets in equity funds, and less than 40% in any one equity fund; such
funds generally invest in equity securities of domestic and foreign
companies, including small, medium and large market capitalization
companies, and growth and value stock;
and |
• |
less than 20% of its assets in
specialty funds, and less than 20% in any one specialty fund; such funds
generally offer unique combinations of traditional equity securities and
fixed-income securities or use alternative investment strategies that aim
to offer diversification beyond traditional equity and fixed-income
securities and include investments in such assets as infrastructure,
commodities, currencies, and natural resources
companies. |
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
10.72 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(13.95 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
16.78% |
6.30% |
8.68% |
Class A
Return After Taxes on Distributions |
15.71% |
4.36% |
7.39% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
10.68% |
4.60% |
6.83% |
Class C
Return Before Taxes |
21.54% |
6.70% |
8.47% |
Class J
Return Before Taxes |
22.77% |
7.69% |
9.37% |
Institutional
Class Return Before Taxes |
23.94% |
7.87% |
9.67% |
Class R-1
Return Before Taxes |
22.91% |
6.95% |
8.73% |
Class R-2
Return Before Taxes |
23.08% |
7.08% |
8.85% |
Class R-3
Return Before Taxes |
23.32% |
7.27% |
9.05% |
Class R-4
Return Before Taxes |
23.54% |
7.48% |
9.26% |
Class R-5
Return Before Taxes |
23.64% |
7.60% |
9.39% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
31.04% |
11.24% |
13.42% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or taxes)
|
8.72% |
3.05% |
3.75% |
MSCI EAFE Index NTR (reflects
withholding taxes on foreign dividends, but no deduction for fees,
expenses, or other taxes) |
22.03% |
5.67% |
5.50% |
SAM Conservative Growth Blended
Index (except as noted for MSCI EAFE Index NTR, reflects no deduction for
fees, expenses, or taxes) |
24.69% |
8.62% |
10.04% |
• |
Todd A. Jablonski (since
2010), Portfolio Manager |
• |
Gregory L. Tornga (since
2017), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Portfolio seeks to provide
a high level of total return (consisting of reinvestment of income with
some capital appreciation). |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.08% |
0.10% |
0.03% |
0.04% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
0.51% |
Total Annual
Fund Operating Expenses |
1.12% |
1.89% |
0.97% |
0.83% |
1.67% |
1.54% |
1.36% |
1.17% |
1.05% |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$485 |
$718 |
$969 |
$1,687 |
Class
C |
292 |
594 |
1,021 |
2,212 |
Class
J |
199 |
309 |
536 |
1,190 |
Institutional
Class |
85 |
265 |
460 |
1,025 |
Class
R-1 |
170 |
526 |
907 |
1,976 |
Class
R-2 |
157 |
486 |
839 |
1,834 |
Class
R-3 |
138 |
431 |
745 |
1,635 |
Class
R-4 |
119 |
372 |
644 |
1,420 |
Class
R-5 |
107 |
334 |
579 |
1,283 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$192 |
$594 |
$1,021 |
$2,212 |
Class
J |
99 |
309 |
536 |
1,190 |
• |
between 55% and 95% of its
assets in fixed-income funds, and less than 40% in any one fixed-income
fund; such funds generally invest in fixed income instruments such as high
yield securities (or “junk” bonds), real estate securities, securitized
products, government and government-sponsored securities, and corporate
bonds; |
• |
between 5% and 45% of its
assets in equity funds, and less than 30% in any one equity fund; such
funds generally invest in equity securities of domestic and foreign
companies, including value stock; and |
• |
less than 20% of its assets in
specialty funds, and less than 20% in any one specialty fund; such funds
generally offer unique combinations of traditional equity securities and
fixed-income securities or use alternative investment strategies that aim
to offer diversification beyond traditional equity and fixed-income
securities and include investments in such assets as infrastructure,
commodities, currencies, and natural resources
companies. |
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
5.86 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(4.98 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
8.67% |
3.63% |
5.36% |
Class A
Return After Taxes on Distributions |
7.58% |
2.22% |
4.01% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
5.32% |
2.32% |
3.76% |
Class C
Return Before Taxes |
11.05% |
3.64% |
4.97% |
Class J
Return Before Taxes |
12.10% |
4.57% |
5.81% |
Institutional
Class Return Before Taxes |
13.24% |
4.73% |
6.09% |
Class R-1
Return Before Taxes |
12.21% |
3.84% |
5.18% |
Class R-2
Return Before Taxes |
12.43% |
3.97% |
5.31% |
Class R-3
Return Before Taxes |
12.58% |
4.17% |
5.51% |
Class R-4
Return Before Taxes |
12.76% |
4.36% |
5.71% |
Class R-5
Return Before Taxes |
13.02% |
4.49% |
5.84% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
8.72% |
3.05% |
3.75% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
31.04% |
11.24% |
13.42% |
MSCI EAFE Index NTR (reflects
withholding taxes on foreign dividends, but no deduction for fees,
expenses, or other taxes) |
22.03% |
5.67% |
5.50% |
SAM Flexible Income Blended
Index (except as noted for MSCI EAFE Index NTR, reflects no deduction for
fees, expenses, or taxes) |
13.75% |
4.94% |
5.90% |
• |
Todd A. Jablonski (since
2010), Portfolio Manager |
• |
Gregory L. Tornga (since
2017), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Portfolio seeks to provide
long-term capital appreciation.
|
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees
|
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
0.28% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.11% |
0.14% |
0.07% |
0.02% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Acquired Fund Fees and
Expenses |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
0.59% |
Total Annual
Fund Operating Expenses |
1.23% |
2.01% |
1.09% |
0.89% |
1.75% |
1.62% |
1.44% |
1.25% |
1.13% |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$668 |
$919 |
$1,188 |
$1,957 |
Class
C |
304 |
630 |
1,083 |
2,338 |
Class
J |
211 |
347 |
601 |
1,329 |
Institutional
Class |
91 |
284 |
493 |
1,096 |
Class
R-1 |
178 |
551 |
949 |
2,062 |
Class
R-2 |
165 |
511 |
881 |
1,922 |
Class
R-3 |
147 |
456 |
787 |
1,724 |
Class
R-4 |
127 |
397 |
686 |
1,511 |
Class
R-5 |
115 |
359 |
622 |
1,375 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$204 |
$630 |
$1,083 |
$2,338 |
Class
J |
111 |
347 |
601 |
1,329 |
• |
between 75% and 100% of its
assets in equity funds, and less than 50% in any one equity fund; such
funds generally invest in equity securities of domestic and foreign
companies, including small, medium and large market capitalization
companies, and growth and value stock;
and |
• |
less than 20% of its assets in
specialty funds, and less than 20% in any one specialty fund; such funds
generally offer unique combinations of traditional equity securities and
fixed-income securities or use alternative investment strategies that aim
to offer diversification beyond traditional equity and fixed-income
securities and include investments in such assets as infrastructure,
commodities, currencies, and natural resources
companies. |
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
12.12 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(16.43 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
19.90% |
6.56% |
9.36% |
Class A
Return After Taxes on Distributions |
18.67% |
4.27% |
7.91% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
12.66% |
4.72% |
7.40% |
Class C
Return Before Taxes |
24.83% |
6.94% |
9.15% |
Class J
Return Before Taxes |
26.16% |
7.94% |
10.08% |
Institutional
Class Return Before Taxes |
27.33% |
8.15% |
10.39% |
Class R-1
Return Before Taxes |
26.17% |
7.21% |
9.43% |
Class R-2
Return Before Taxes |
26.36% |
7.34% |
9.57% |
Class R-3
Return Before Taxes |
26.63% |
7.55% |
9.77% |
Class R-4
Return Before Taxes |
26.90% |
7.76% |
9.98% |
Class R-5
Return Before Taxes |
26.99% |
7.89% |
10.11% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
31.04% |
11.24% |
13.42% |
MSCI EAFE Index NTR (reflects
withholding taxes on foreign dividends, but no deduction for fees,
expenses, or other taxes) |
22.03% |
5.67% |
5.50% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
8.72% |
3.05% |
3.75% |
SAM Strategic Growth Blended
Index (except as noted for MSCI EAFE Index NTR, reflects no deduction for
fees, expenses, or taxes) |
27.63% |
9.50% |
11.01% |
• |
Todd A. Jablonski (since
2010), Portfolio Manager |
• |
Gregory L. Tornga (since
2017), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide as
high a level of current income as is consistent with prudent investment
management and stability of principal. |
Share
Class | |||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
2.25% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
C |
J |
Inst.
|
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.41% |
0.41% |
0.41% |
0.41% |
0.41% |
0.41% |
0.41% |
0.41% |
0.41% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.13% |
0.18% |
0.14% |
0.02% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
Total Annual
Fund Operating Expenses |
0.69% |
1.59% |
0.70% |
0.43% |
1.29% |
1.16% |
0.98% |
0.79% |
0.67% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
—% |
N/A |
N/A |
N/A |
—% |
N/A |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.69% |
1.59% |
0.70% |
0.43% |
1.29% |
1.16% |
0.98% |
0.79% |
0.67% |
(1) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.43% for Institutional Class and 0.79% for Class R-4 shares. It
is expected that the expense limits will continue through the period
ending February 28, 2021; however, Principal Funds, Inc. and PGI, the
parties to the agreement, may mutually agree to terminate the expense
limits prior to the end of the period. Subject to applicable expense
limits, the Fund may reimburse PGI for expenses incurred during the
current fiscal year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$294 |
$441 |
$601 |
$1,064 |
Class
C |
262 |
502 |
866 |
1,889 |
Class
J |
172 |
224 |
390 |
871 |
Institutional
Class |
44 |
138 |
241 |
542 |
Class
R-1 |
131 |
409 |
708 |
1,556 |
Class
R-2 |
118 |
368 |
638 |
1,409 |
Class
R-3 |
100 |
312 |
542 |
1,201 |
Class
R-4 |
81 |
252 |
439 |
978 |
Class
R-5 |
68 |
214 |
373 |
835 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$162 |
$502 |
$866 |
$1,889 |
Class
J |
72 |
224 |
390 |
871 |
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'12 |
1.99 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(0.86 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
2.12% |
1.51% |
2.02% |
Class A
Return After Taxes on Distributions |
1.22% |
0.74% |
1.27% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
1.25% |
0.81% |
1.24% |
Class C
Return Before Taxes |
2.56% |
1.08% |
1.36% |
Class J
Return Before Taxes |
3.61% |
1.99% |
2.16% |
Institutional
Class Return Before Taxes |
4.86% |
2.24% |
2.52% |
Class R-1
Return Before Taxes |
3.88% |
1.37% |
1.65% |
Class R-2
Return Before Taxes |
4.01% |
1.50% |
1.78% |
Class R-3
Return Before Taxes |
4.28% |
1.70% |
1.98% |
Class R-4
Return Before Taxes |
4.40% |
1.88% |
2.17% |
Class R-5
Return Before Taxes |
4.52% |
1.99% |
2.29% |
Bloomberg Barclays Credit 1-3
Year Index (reflects no deduction for fees, expenses, or
taxes) |
5.02% |
2.24% |
2.33% |
• |
John R. Friedl (since 2010),
Portfolio Manager |
• |
Scott J. Peterson (since
2010), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||||
A |
C |
J |
Inst.
|
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6
| |
Management Fees |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
0.75% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.22% |
0.29% |
0.19% |
0.14% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
0.05% |
Total Annual
Fund Operating Expenses |
1.22% |
2.04% |
1.09% |
0.89% |
1.63% |
1.50% |
1.32% |
1.13% |
1.01% |
0.80% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
(0.04)% |
N/A |
N/A |
N/A |
N/A |
N/A |
(0.03)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.22% |
2.04% |
1.09% |
0.85% |
1.63% |
1.50% |
1.32% |
1.13% |
1.01% |
0.77% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.85% for Institutional Class shares. In addition, for Class
R-6, the expense limit will maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%,
(excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses). It is
expected that the expense limits will continue through the period ending
February 28, 2021; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. Subject to applicable expense limits, the Fund may
reimburse PGI for expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$667 |
$916 |
$1,183 |
$1,946 |
Class
C |
307 |
640 |
1,098 |
2,369 |
Class
J |
211 |
347 |
601 |
1,329 |
Institutional
Class |
87 |
280 |
489 |
1,092 |
Class
R-1 |
166 |
514 |
887 |
1,933 |
Class
R-2 |
153 |
474 |
818 |
1,791 |
Class
R-3 |
134 |
418 |
723 |
1,590 |
Class
R-4 |
115 |
359 |
622 |
1,375 |
Class
R-5 |
103 |
322 |
558 |
1,236 |
Class
R-6 |
79 |
252 |
441 |
987 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$207 |
$640 |
$1,098 |
$2,369 |
Class
J |
111 |
347 |
601 |
1,329 |
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'11 |
17.97 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(22.55 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
20.10% |
6.91% |
11.46% |
Class A
Return After Taxes on Distributions |
18.52% |
5.06% |
9.97% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
13.02% |
5.07% |
9.19% |
Class C
Return Before Taxes |
25.06% |
7.25% |
11.22% |
Class J
Return Before Taxes |
26.27% |
8.31% |
12.27% |
Institutional
Class Return Before Taxes |
27.54% |
8.57% |
12.64% |
Class R-1
Return Before Taxes |
26.56% |
7.68% |
11.71% |
Class R-2
Return Before Taxes |
26.69% |
7.80% |
11.84% |
Class R-3
Return Before Taxes |
26.94% |
8.00% |
12.06% |
Class R-4
Return Before Taxes |
27.16% |
8.21% |
12.26% |
Class R-5
Return Before Taxes |
27.37% |
8.34% |
12.40% |
Class R-6
Return Before Taxes |
27.66% |
8.37% |
12.25% |
Russell 2000 Index (reflects no
deduction for fees, expenses, or taxes) |
25.54% |
8.23% |
11.83% |
• |
Phil Nordhus (since 2006),
Portfolio Manager |
• |
Brian W. Pattinson (since
2011), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees (1) |
0.86% |
0.86% |
0.86% |
0.86% |
0.86% |
0.86% |
0.86% |
0.86% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.22% |
0.11% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
0.01% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
1.24% |
0.98% |
1.76% |
1.63% |
1.45% |
1.26% |
1.14% |
0.88% |
Fee Waiver and Expense
Reimbursement (2)(3) |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
(0.02)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
1.22% |
0.96% |
1.74% |
1.61% |
1.43% |
1.24% |
1.12% |
0.86% |
(1)
Fees have
been restated to reflect current fees. |
||||||||
(2)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's Management Fees through the period ending
February 28, 2021. The fee waiver will reduce the Fund's Management
Fees by 0.02% (expressed as a percent of average net assets on an
annualized basis). It is expected that the fee waiver will continue
through the period disclosed; however, Principal Funds, Inc. and PGI, the
parties to the agreement may mutually agree to terminate the fee waiver
prior to the end of the period. | ||||||||
(3)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.01%
for Class R-6 shares. It is expected that the expense limit will continue
through the period ending February 28, 2021; however, Principal Funds,
Inc. and PGI, the parties to the agreement, may mutually agree to
terminate the expense limit prior to the end of the period. Subject to
applicable expense limits, the Fund may reimburse PGI for expenses
incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
J |
$224 |
$391 |
$679 |
$1,498 |
Institutional
Class |
98 |
310 |
540 |
1,200 |
Class
R-1 |
177 |
552 |
952 |
2,071 |
Class
R-2 |
164 |
512 |
885 |
1,931 |
Class
R-3 |
146 |
457 |
790 |
1,734 |
Class
R-4 |
126 |
398 |
690 |
1,521 |
Class
R-5 |
114 |
360 |
626 |
1,384 |
Class
R-6 |
88 |
279 |
486 |
1,082 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$124 |
$391 |
$679 |
$1,498 |
• |
Growth
Style Risk.
Growth investing entails the risk
that if growth companies do not increase their earnings at a rate expected
by investors, the market price of their stock may decline significantly,
even if earnings show an absolute increase. Growth company stocks also
typically lack the dividend yield that can lessen price declines in market
downturns.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'19 |
21.38 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(21.88 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
33.59% |
12.03% |
14.89% |
Institutional
Class Return After Taxes on Distributions |
31.36% |
9.67% |
12.68% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
21.46% |
9.04% |
11.94% |
Class J
Return Before Taxes |
32.27% |
11.66% |
14.37% |
Class R-1
Return Before Taxes |
32.53% |
11.10% |
13.91% |
Class R-2
Return Before Taxes |
32.71% |
11.24% |
14.06% |
Class R-3
Return Before Taxes |
32.87% |
11.44% |
14.26% |
Class R-4
Return Before Taxes |
33.11% |
11.65% |
14.47% |
Class R-5
Return Before Taxes |
33.22% |
11.76% |
14.61% |
Class R-6
Return Before Taxes |
33.53% |
12.03% |
14.88% |
Russell 2000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
28.51% |
9.34% |
13.01% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class |
||||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
0.15% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.17% |
0.09% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
0.02% |
Total Annual
Fund Operating Expenses |
0.47% |
0.24% |
1.04% |
0.91% |
0.73% |
0.54% |
0.42% |
0.17% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.47% |
0.24% |
1.04% |
0.91% |
0.73% |
0.54% |
0.42% |
0.17% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain "Other Expenses" (expressed as a
percent of average net assets on an annualized basis) not to exceed 0.02%
for Class R-6 shares. It is expected that the expense limit will continue
through the period ending February 28, 2021; however, Principal Funds,
Inc. and PGI, the parties to the agreement, may mutually agree to
terminate the expense limit prior to the end of the period. Subject to
applicable expense limits, the Fund may reimburse PGI for expenses
incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
J |
$148 |
$151 |
$263 |
$591 |
Institutional
Class |
25 |
77 |
135 |
306 |
Class
R-1 |
106 |
331 |
574 |
1,271 |
Class
R-2 |
93 |
290 |
504 |
1,120 |
Class
R-3 |
75 |
233 |
406 |
906 |
Class
R-4 |
55 |
173 |
302 |
677 |
Class
R-5 |
43 |
135 |
235 |
530 |
Class
R-6 |
17 |
55 |
96 |
217 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$48 |
$151 |
$263 |
$591 |
Note: |
"Standard & Poor's
SmallCap 600" and "S&P SmallCap 600" are trademarks of S&P Global
and have been licensed by Principal. The Fund is not sponsored, endorsed,
sold or promoted by S&P Global and S&P Global makes no
representation regarding the advisability of investing in the
Fund. |
• |
Futures. These derivative instruments involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the
instruments; possible lack of a liquid secondary market for an instrument
and the resulting inability to close it when desired; counterparty risk;
and if the fund has insufficient cash, it may have to sell securities from
its portfolio to meet any applicable daily variation margin
requirements.
|
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'11 |
17.02 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'18 |
(20.14 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Institutional
Class Return Before Taxes |
22.58% |
9.30% |
13.06% |
Institutional
Class Return After Taxes on Distributions |
20.58% |
7.08% |
11.54% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
14.75% |
6.92% |
10.61% |
Class J
Return Before Taxes |
21.35% |
9.06% |
12.68% |
Class R-1
Return Before Taxes |
21.56% |
8.40% |
12.12% |
Class R-2
Return Before Taxes |
21.76% |
8.55% |
12.27% |
Class R-3
Return Before Taxes |
21.97% |
8.75% |
12.48% |
Class R-4
Return Before Taxes |
22.22% |
8.95% |
12.69% |
Class R-5
Return Before Taxes |
22.37% |
9.08% |
12.82% |
Class R-6
Return Before Taxes |
22.64% |
9.11% |
12.66% |
S&P SmallCap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
22.80% |
9.56% |
13.35% |
• |
Jeffrey A. Schwarte (since
2016), Portfolio Manager |
• |
Aaron J. Siebel (since 2018),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||||
A |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.99% |
0.99% |
0.99% |
0.99% |
0.99% |
0.99% |
0.99% |
0.99% |
0.99% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.66% |
0.38% |
0.12% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
0.02% |
Acquired Fund Fees and
Expenses |
0.02% |
0.02% |
0.02% |
0.02% |
0.02% |
0.02% |
0.02% |
0.02% |
0.02% |
Total Annual
Fund Operating Expenses |
1.92% |
1.54% |
1.13% |
1.90% |
1.77% |
1.59% |
1.40% |
1.28% |
1.03% |
Fee Waiver and Expense
Reimbursement (1)(2) |
(0.45)% |
(0.04)% |
(0.12)% |
(0.04)% |
(0.04)% |
(0.04)% |
(0.04)% |
(0.04)% |
(0.04)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
1.47% |
1.50% |
1.01% |
1.86% |
1.73% |
1.55% |
1.36% |
1.24% |
0.99% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund's Management Fees through the period ending
February 28, 2021. The fee waiver will reduce the Fund's Management Fees
by 0.04% (expressed as a percent of average net assets on an annualized
basis). It is expected that the fee waiver will continue through the
period disclosed; however, Principal Funds, Inc. and PGI, the parties to
the agreement may mutually agree to terminate the fee waiver prior to the
end of the period. | |||||||||
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Fund’s expenses by paying, if necessary, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 1.45% for Class A and 0.99% for Institutional Class shares. In
addition, for Class R-6, the expense limit will maintain "Other Expenses"
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.02%, (excluding interest expense, expenses related to fund
investments, acquired fund fees and expenses, and other extraordinary
expenses). It is expected that the expense limits will continue through
the period ending February 28, 2021; however, Principal Funds, Inc. and
PGI, the parties to the agreement, may mutually agree to terminate the
expense limits prior to the end of the period. Subject to applicable
expense limits, the Fund may reimburse PGI for expenses incurred during
the current fiscal year. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$691 |
$1,079 |
$1,490 |
$2,635 |
Class
J |
253 |
483 |
836 |
1,831 |
Institutional
Class |
103 |
347 |
611 |
1,364 |
Class
R-1 |
189 |
593 |
1,023 |
2,219 |
Class
R-2 |
176 |
553 |
956 |
2,081 |
Class
R-3 |
158 |
498 |
862 |
1,886 |
Class
R-4 |
138 |
439 |
762 |
1,676 |
Class
R-5 |
126 |
402 |
698 |
1,542 |
Class
R-6 |
101 |
324 |
565 |
1,256 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$153 |
$483 |
$836 |
$1,831 |
• |
Smaller
Companies Risk.
Investments in smaller companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Style
Risk.
Value investing entails the risk
that value stocks may continue to be undervalued by the market for
extended periods, including the entire period during which the stock is
held by a fund, or the events that would cause the stock price to increase
may not occur as anticipated or at all. Moreover, a stock that appears to
be undervalued actually may be appropriately priced at a low level and
therefore would not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'10 |
16.45 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(22.38 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
15.73% |
4.59% |
9.83% |
Class A
Return After Taxes on Distributions |
15.60% |
2.31% |
7.89% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
9.40% |
3.18% |
7.54% |
Class J
Return Before Taxes |
21.55% |
5.83% |
10.35% |
Institutional
Class Return Before Taxes |
23.19% |
6.28% |
10.96% |
Class R-1
Return Before Taxes |
22.02% |
5.37% |
10.00% |
Class R-2
Return Before Taxes |
22.15% |
5.51% |
10.15% |
Class R-3
Return Before Taxes |
22.45% |
5.70% |
10.34% |
Class R-4
Return Before Taxes |
22.81% |
5.90% |
10.56% |
Class R-5
Return Before Taxes |
22.89% |
6.03% |
10.68% |
Class R-6
Return Before Taxes |
23.24% |
6.30% |
10.89% |
Russell 2000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
22.41% |
6.99% |
10.57% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
J |
Initial
Investment |
$1,000(1) |
A and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5, and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide a
high level of income that is exempt from federal income tax while
protecting investors’ capital. |
Share
Class | |||
A |
C |
Inst. | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
None |
Share
Class | |||
A |
C |
Inst. | |
Management Fees |
0.45% |
0.45% |
0.45% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
Other Expenses |
|||
Interest
Expense |
0.07% |
0.07% |
0.07% |
Remainder of Other
Expenses |
0.09% |
0.22% |
0.14% |
Total Other
Expenses |
0.16% |
0.29% |
0.21% |
Total Annual
Fund Operating Expenses |
0.86% |
1.74% |
0.66% |
Expense Reimbursement
(1) |
N/A |
(0.07)% |
(0.07)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.86% |
1.67% |
0.59% |
(1)
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.60% for Class C
and 0.52% for Institutional Class shares. It is expected that the expense
limits will continue through the period ending February 28, 2021; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limits prior to the end of the period.
Subject to applicable expense limits, the Fund may reimburse PGI for
expenses incurred during the current fiscal year.
|
1
year |
3
years |
5
years |
10
years | |
Class
A |
$459 |
$639 |
$834 |
$1,396 |
Class
C |
270 |
541 |
937 |
2,046 |
Institutional
Class |
60 |
204 |
361 |
816 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$170 |
$541 |
$937 |
$2,046 |
12.17% in securities rated
Aaa |
20.18% in securities rated
Baa |
0.09% in securities rated
Caa |
0.00% in securities rated
D |
16.97% in securities rated
Aa |
2.31% in securities rated
Ba |
0.00% in securities rated
Ca |
19.28% in securities not
rated |
25.06% in securities rated
A |
3.94% in securities rated
B |
0.00% in securities rated
C |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'11 |
4.51 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'10 |
(5.42 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2019 |
1
Year |
5
Years |
10
Years |
Class A
Return Before Taxes |
4.78% |
2.88% |
4.26% |
Class A
Return After Taxes on Distributions |
4.78% |
2.88% |
4.26% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
4.03% |
3.01% |
4.20% |
Class C
Return Before Taxes |
6.74% |
2.82% |
3.81% |
Institutional
Class Return Before Taxes |
9.08% |
3.92% |
4.78% |
Bloomberg Barclays Municipal
Bond Index (reflects no deduction for
fees, expenses, or taxes) |
7.54% |
3.53% |
4.34% |
• |
James Noble (since 2013),
Portfolio Manager |
• |
James Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
INVESTMENT
STRATEGIES
AND
RISKS |
CALIFORNIA
MUNICIPAL |
CORE FIXED
INCOME |
CORE
PLUS
BOND |
DIVERSIFIED
INTERNATIONAL |
EQUITY
INCOME |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Not Applicable |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Principal |
Non-Principal |
Principal |
Non-Principal |
Not
Applicable |
Derivatives |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Not
Applicable |
Emerging
Markets |
Not Applicable |
Non-Principal |
Principal |
Principal |
Non-Principal |
Equity
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Principal |
Principal |
• Growth
Style |
Not Applicable |
Non-Principal |
Not Applicable |
Principal |
Non-Principal |
• Smaller
Companies |
Not Applicable |
Non-Principal |
Not Applicable |
Principal |
Principal |
• Value
Style |
Not Applicable |
Non-Principal |
Not Applicable |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Non-Principal |
Non-Principal |
Foreign
Currency |
Not Applicable |
Non-Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Geographic Concentration
(Municipal Obligations) |
Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Not
Applicable |
High Yield
Securities |
Principal |
Principal |
Principal |
Not Applicable |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Principal |
Non-Principal |
Principal |
Non-Principal |
Not
Applicable |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Not Applicable |
Principal |
Principal |
Non-Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Not Applicable |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Non-Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Non-Principal |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
FINISTERRE
UNCONSTRAINED EMERGING MARKETS BOND |
GLOBAL
DIVERSIFIED INCOME |
GLOBAL REAL
ESTATE SECURITIES |
GOVERNMENT
& HIGH QUALITY BOND |
GOVERNMENT
MONEY MARKET |
Arbitrage
Trading |
Non-Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Non-Principal |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Counterparty
Risk |
Principal |
Principal |
Non-Principal |
Non-Principal |
Principal |
Derivatives |
Principal |
Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Emerging
Markets |
Principal |
Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Equity
Securities |
Non-Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
• Growth
Style |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
• Smaller
Companies |
Non-Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
• Value
Style |
Non-Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Fixed-Income
Securities |
Principal |
Principal |
Non-Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Foreign
Securities |
Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
High Yield
Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Principal |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Leverage |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Non-Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Portfolio
Duration |
Principal |
Principal |
Not Applicable |
Principal |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Preferred
Securities |
Non-Principal |
Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Principal |
Principal |
Non-Principal |
Not
Applicable |
Real Estate
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Not
Applicable |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Securitized
Products |
Non-Principal |
Principal |
Non-Principal |
Principal |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Non-Principal |
Not Applicable |
Principal |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
HIGH
INCOME |
HIGH
YIELD |
INFLATION
PROTECTION |
INTERNATIONAL
EMERGING
MARKETS |
INTERNATIONAL
I |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Principal |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Counterparty
Risk |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Not
Applicable |
Derivatives |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Not
Applicable |
Emerging
Markets |
Non-Principal |
Principal |
Non-Principal |
Principal |
Principal |
Equity
Securities |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Principal |
• Growth
Style |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Principal |
• Smaller
Companies |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Principal |
• Value
Style |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Non-Principal |
Not
Applicable |
Foreign
Currency |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
High Yield
Securities |
Principal |
Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Not Applicable
|
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Non-Principal |
Non-Principal |
Principal |
Not Applicable |
Not
Applicable |
Volatility
Mitigation |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
LARGECAP
GROWTH I |
LARGECAP
S&P 500
INDEX |
LARGECAP
VALUE III |
MIDCAP |
MIDCAP
GROWTH |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Derivatives |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Emerging
Markets |
Non-Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
• Growth
Style |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
• Smaller
Companies |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Principal |
• Value
Style |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Foreign
Currency |
Non-Principal |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
Foreign
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Not
Applicable |
High Yield
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Principal (1) |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Preferred
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
MIDCAP
GROWTH III |
MIDCAP
S&P 400 INDEX |
MIDCAP
VALUE
I |
MONEY
MARKET |
OVERSEAS |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Not Applicable |
Non-Principal |
Counterparty
Risk |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Derivatives |
Non-Principal |
Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Emerging
Markets |
Not-Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Not Applicable |
Principal |
• Growth
Style |
Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
• Smaller
Companies |
Principal |
Principal |
Principal |
Not Applicable |
Principal |
• Value
Style |
Non-Principal |
Non-Principal |
Principal |
Not Applicable |
Principal |
Fixed-Income
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
Foreign
Currency |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Principal |
Foreign
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Principal |
Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
High Yield
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Principal (1)
|
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Not Applicable |
Non-Principal |
Not Applicable |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Not
Applicable |
Portfolio
Duration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Preferred
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Not Applicable |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Principal |
Not Applicable |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Principal |
Not Applicable |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
Securitized
Products |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
PRINCIPAL
CAPITAL APPRECIATION |
PRINCIPAL
LIFETIME STRATEGIC INCOME |
PRINCIPAL
LIFETIME 2010 |
PRINCIPAL
LIFETIME 2015 |
PRINCIPAL
LIFETIME 2020 |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Commodity-Related
Investments |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Derivatives |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
• Growth
Style |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
• Smaller
Companies |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
• Value
Style |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Leverage |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Short Sales |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
PRINCIPAL
LIFETIME 2025 |
PRINCIPAL
LIFETIME 2030 |
PRINCIPAL
LIFETIME 2035 |
PRINCIPAL
LIFETIME 2040 |
PRINCIPAL
LIFETIME 2045 |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Commodity-Related
Investments |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Derivatives |
Principal |
Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
• Growth
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
• Smaller
Companies |
Principal |
Principal |
Principal |
Principal |
Principal |
• Value
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Principal |
Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Principal |
Principal |
Principal |
Principal |
Principal |
Short Sales |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
PRINCIPAL
LIFETIME 2050 |
PRINCIPAL
LIFETIME 2055 |
PRINCIPAL
LIFETIME 2060 |
PRINCIPAL
LIFETIME 2065 |
PRINCIPAL
LIFETIME HYBRID INCOME |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Derivatives |
Principal |
Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Principal |
Principal |
Principal |
Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
• Growth
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
• Smaller
Companies |
Principal |
Principal |
Principal |
Principal |
Non-Principal |
• Value
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Principal |
Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Short Sales |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
PRINCIPAL
LIFETIME HYBRID 2015 |
PRINCIPAL
LIFETIME HYBRID 2020 |
PRINCIPAL
LIFETIME HYBRID 2025 |
PRINCIPAL
LIFETIME HYBRID 2030 |
PRINCIPAL
LIFETIME HYBRID 2035 |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Commodity-Related
Investments |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Derivatives |
Principal |
Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
• Growth
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
• Smaller
Companies |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
• Value
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Principal |
Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal
|
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Principal |
Principal |
Principal |
Principal |
Principal |
Short Sales |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
PRINCIPAL
LIFETIME HYBRID 2040 |
PRINCIPAL
LIFETIME HYBRID 2045 |
PRINCIPAL
LIFETIME HYBRID 2050 |
PRINCIPAL
LIFETIME HYBRID 2055 |
PRINCIPAL
LIFETIME
HYBRID
2060 |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Derivatives |
Principal |
Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Principal |
Principal |
Principal |
Principal |
Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
• Growth
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
• Smaller
Companies |
Principal |
Principal |
Principal |
Principal |
Principal |
• Value
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Principal |
Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Short Sales |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
PRINCIPAL
LIFETIME HYBRID 2065 |
REAL ESTATE
SECURITIES |
SAM
BALANCED |
SAM
CONSERVATIVE BALANCED |
SAM
CONSERVATIVE GROWTH |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Emerging
Markets |
Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
• Growth
Style |
Principal |
Non-Principal |
Principal |
Principal |
Principal |
• Smaller
Companies |
Principal |
Non-Principal |
Principal |
Principal |
Principal |
• Value
Style |
Principal |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Non-Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Not Applicable |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Non-Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Not Applicable |
Principal |
Principal |
Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Non-Principal |
Principal |
Principal |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Not Applicable |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Principal |
Principal |
Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Non-Principal |
Non-Principal |
Principal |
Principal |
Non-Principal |
Short Sales |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Non-Principal |
Not Applicable |
Principal |
Principal |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
SAM FLEXIBLE
INCOME |
SAM
STRATEGIC GROWTH |
SHORT-TERM
INCOME |
SMALLCAP |
SMALLCAP
GROWTH I |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Not Applicable |
Non-Principal |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Derivatives |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Not Applicable |
Principal |
Principal |
• Growth
Style |
Non-Principal |
Principal |
Not Applicable |
Non-Principal |
Principal |
• Smaller
Companies |
Non-Principal |
Principal |
Not Applicable |
Principal |
Principal |
• Value
Style |
Principal |
Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Principal |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Foreign
Currency |
Principal |
Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Non-Principal |
Non-Principal |
Fund of Funds |
Principal |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Principal |
Non-Principal |
Principal |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Principal |
Non-Principal |
Principal |
Not Applicable |
Not
Applicable |
Short Sales |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Non-Principal |
Principal |
Not Applicable |
Not
Applicable |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
SMALLCAP
S&P 600
INDEX |
SMALLCAP
VALUE II |
TAX-EXEMPT
BOND |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate interests) |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Not Applicable |
Non-Principal |
Not
Applicable |
Counterparty
Risk |
Non-Principal |
Not Applicable |
Principal |
Derivatives |
Principal |
Non-Principal |
Non-Principal |
Emerging
Markets |
Not Applicable |
Non-Principal |
Not
Applicable |
Equity
Securities |
Principal |
Principal |
Not
Applicable |
• Growth
Style |
Non-Principal |
Non-Principal |
Not
Applicable |
• Smaller
Companies |
Principal |
Principal |
Not
Applicable |
• Value
Style |
Non-Principal |
Principal |
Not
Applicable |
Fixed-Income
Securities |
Not Applicable |
Non-Principal |
Principal |
Foreign
Currency |
Not Applicable |
Non-Principal |
Not
Applicable |
Foreign
Securities |
Not Applicable |
Non-Principal |
Not
Applicable |
Fund of Funds |
Not Applicable |
Not Applicable |
Not
Applicable |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Principal |
Hedging |
Not Applicable |
Not Applicable |
Non-Principal |
High Yield
Securities |
Not Applicable |
Not Applicable |
Principal |
Industry
Concentration |
Principal (1) |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Principal |
Investment Company
Securities |
Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Non-Principal |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Not Applicable |
Principal |
Portfolio
Duration |
Not Applicable |
Not Applicable |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Not Applicable |
Non-Principal |
Not
Applicable |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Principal |
Not
Applicable |
Real Estate
Securities |
Non-Principal |
Principal |
Not
Applicable |
Redemption and Large
Transaction Risk |
Principal |
Principal |
Principal |
Repurchase
Agreements |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Not Applicable |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Not Applicable |
Non-Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not
Applicable |
• |
The occurrence of a conversion
event is inherently unpredictable and depends on many factors, some of
which will be outside the issuer’s control. Because of the uncertainty
regarding whether a conversion event will occur, it may be difficult to
predict when, if at all, a CoCo will be converted to equity, and a fund
may suffer losses as a result. |
• |
CoCos may have no stated
maturity and fully discretionary coupons. This means coupon (i.e.,
interest) payments can be canceled at the banking institution’s discretion
or at the request of the relevant regulatory authority in order to help
the bank absorb losses, without causing a
default. |
• |
CoCos are usually issued in
the form of subordinated debt instruments to provide the appropriate
regulatory capital treatment. If an issuer liquidates, dissolves or
winds-up before a conversion to equity has occurred, the rights and claims
of the holders of the CoCos (such as a fund) against the issuer generally
rank junior to the claims of holders of unsubordinated obligations of the
issuer. In addition, if the CoCos are converted into the issuer’s
underlying equity securities after a conversion event (i.e., a “trigger”),
each holder will be further subordinated. |
• |
The value of CoCos is
unpredictable and is influenced by many factors including, without
limitation: the creditworthiness of the issuer and/or fluctuations in such
issuer’s applicable capital ratios; supply and demand for CoCos; general
market conditions and available liquidity; and economic, financial and
political events that affect the issuer, its particular market or the
financial markets in general. Moreover, the performance of CoCos may be
correlated with one another and as a result negative information of one
issuer may cause decline in the value of CoCos of many other issuers.
|
• |
increased volatility of a fund
and/or the failure of the investment to mitigate volatility as
intended; |
• |
the inability of those
managing investments of the fund to predict correctly the direction of
securities prices, interest rates, currency exchange rates, asset values,
and other economic factors; |
• |
losses caused by unanticipated
market movements, which may be substantially greater than a fund's initial
investment and are potentially unlimited; |
• |
the possibility that there may
be no liquid secondary market, which may make it difficult or impossible
to close out a position when desired; |
• |
the possibility that the
counterparty may fail to perform its obligations;
and |
• |
the inability to close out
certain hedged positions to avoid adverse tax
consequences. |
• |
Commodity Index-Linked Notes
are derivative debt instruments issued by U.S. and foreign banks,
brokerage firms, insurance companies and other corporations with principal
and/or coupon payments linked to the performance of commodity indices.
These notes expose a fund to movements in commodity prices. They are also
subject to credit, counterparty, and interest rate risk. Commodity
index-linked notes are often leveraged, increasing the volatility of each
note's market value relative to changes in the underlying commodity index.
At the maturity of the note, a fund may receive more or less principal
than it originally invested. A fund may also receive interest payments on
the note that are less than the stated coupon interest payments.
|
• |
Credit Default Swap Agreements
may be entered into by a fund as a "buyer" or "seller" of credit
protection. Credit default swap agreements involve special risks because
they may be difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). Credit default swaps can increase
credit risk because a fund has exposure to both the issuer of the
referenced obligation and the counterparty to the credit default
swap. |
• |
Foreign Currency Contracts
(such as foreign currency options and foreign currency forward and swap
agreements) may be used by funds to increase exposure to a foreign
currency or to shift exposure to foreign currency fluctuations from one
country to another. A forward currency contract involves a privately
negotiated obligation to purchase or sell a specific currency at a future
date at a price set in the contract. For currency contracts, there is also
a risk of government action through exchange controls that would restrict
the ability of a fund to deliver or receive
currency. |
• |
Forwards, futures contracts
and options thereon (including commodities futures); options (including
put or call options); and swap agreements and over-the-counter swap
agreements (e.g., interest rate swaps, total return swaps and credit
default swaps) may be used by funds for hedging purposes in order to try
to mitigate or protect against potential losses due to changing interest
rates, securities prices, asset values, currency exchange rates, and other
market conditions; non-hedging purposes to seek to increase the fund's
income or otherwise enhance return; and as a low-cost method of gaining
exposure to a particular market without investing directly in those
securities or assets. |
• |
Index/structured securities.
Certain derivative securities are described more accurately as
index/structured securities, which are derivative securities whose value
or performance is linked to other equity securities (such as depositary
receipts), currencies, interest rates, indices, or other financial
indicators (reference indices). |
• |
increased social, political,
and economic instability; |
• |
a smaller market for these
securities and low or nonexistent trading volume that results in a lack of
liquidity and greater price volatility; |
• |
lack of publicly available
information, including reports of payments of dividends or interest on
outstanding securities; |
• |
foreign government policies
that may restrict opportunities, including restrictions on investment in
issuers or industries deemed sensitive to national
interests; |
• |
relatively new capital market
structure or market-oriented economy; |
• |
the possibility that recent
favorable economic developments may be slowed or reversed by unanticipated
political or social events in these
countries; |
• |
restrictions that may make it
difficult or impossible for a fund to vote proxies, exercise shareholder
rights, pursue legal remedies, and obtain judgments in foreign courts;
and |
• |
possible losses through the
holding of securities in domestic and foreign custodial banks and
depositories. |
Underlying
Fund |
Principal
LifeTime Strategic Income Fund |
Principal
LifeTime 2010 Fund |
Principal
LifeTime 2015 Fund |
Principal
LifeTime 2020 Fund |
Principal
LifeTime 2025 Fund |
Principal
LifeTime 2030 Fund |
Principal
LifeTime 2035 Fund |
Blue Chip Fund |
4.0% |
2.8% |
3.5% |
4.1% |
5.3% |
3.0% |
3.2% |
Bond Market Index
Fund |
17.0 |
15.5 |
13.8 |
12.0 |
10.6 |
9.2 |
6.6 |
Core Fixed Income
Fund |
26.4 |
23.9 |
22.9 |
21.1 |
17.4 |
8.9 |
9.3 |
Core Plus Bond
Fund |
— |
— |
— |
— |
— |
5.8 |
6.6 |
Diversified International
Fund |
2.7 |
3.7 |
4.7 |
6.3 |
7.4 |
8.1 |
8.4 |
Diversified Real Asset
Fund |
1.7 |
1.7 |
1.5 |
1.7 |
1.7 |
1.7 |
— |
Equity Income
Fund |
3.3 |
2.3 |
2.9 |
3.6 |
4.5 |
2.7 |
2.9 |
High Income
Fund |
7.4 |
6.6 |
5.8 |
4.9 |
4.4 |
4.2 |
3.7 |
Inflation Protection
Fund |
4.7 |
4.5 |
4.3 |
4.1 |
3.0 |
2.3 |
— |
International Small Company
Fund |
0.9 |
1.2 |
1.5 |
2.0 |
2.2 |
2.8 |
2.9 |
LargeCap Growth Fund
I |
— |
2.7 |
3.3 |
4.2 |
6.0 |
9.3 |
9.8 |
LargeCap S&P 500 Index
Fund |
3.5 |
4.9 |
6.3 |
7.7 |
9.6 |
11.4 |
12.4 |
LargeCap Value Fund
III |
— |
2.4 |
3.0 |
3.7 |
4.5 |
7.7 |
8.4 |
MidCap Fund |
3.0 |
2.5 |
3.1 |
3.8 |
5.1 |
6.0 |
— |
MidCap Growth Fund
III |
— |
— |
— |
— |
— |
— |
4.8 |
MidCap Value Fund
I |
— |
1.5 |
1.9 |
2.5 |
3.0 |
3.5 |
4.2 |
Origin Emerging Markets
Fund |
— |
— |
— |
— |
— |
2.0 |
2.3 |
Overseas Fund |
2.6 |
3.7 |
4.6 |
6.0 |
7.4 |
7.9 |
8.4 |
Real Estate Securities
Fund |
— |
— |
— |
— |
— |
— |
2.5 |
Short-Term Income
Fund |
21.7 |
18.6 |
14.8 |
9.8 |
4.9 |
— |
— |
SmallCap Growth Fund
I |
0.6 |
0.8 |
1.1 |
1.3 |
1.6 |
1.9 |
1.9 |
SmallCap Value Fund
II |
0.5 |
0.7 |
1.0 |
1.2 |
1.4 |
1.6 |
1.7 |
Total |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
Underlying
Fund |
Principal
LifeTime 2040 Fund |
Principal
LifeTime 2045 Fund |
Principal
LifeTime 2050 Fund |
Principal
LifeTime 2055 Fund |
Principal
LifeTime 2060 Fund |
Principal
LifeTime 2065 Fund |
Blue Chip Fund |
3.4% |
3.7% |
4.1% |
4.2% |
4.4% |
4.0% |
Bond Market Index
Fund |
5.2 |
2.8 |
2.4 |
0.9 |
0.9 |
1.3 |
Core Fixed Income
Fund |
1.8 |
1.7 |
1.8 |
— |
— |
— |
Core Plus Bond
Fund |
8.6 |
6.9 |
3.7 |
3.0 |
2.1 |
2.3 |
Diversified International
Fund |
9.5 |
10.1 |
10.5 |
11.1 |
11.3 |
11.6 |
Equity Income
Fund |
3.2 |
3.4 |
3.5 |
3.8 |
3.8 |
3.7 |
High Income
Fund |
2.7 |
2.4 |
1.7 |
2.0 |
1.7 |
1.6 |
International Small Company
Fund |
3.1 |
3.1 |
3.3 |
3.4 |
3.5 |
3.6 |
LargeCap Growth Fund
I |
10.6 |
11.1 |
11.7 |
12.3 |
12.2 |
11.8 |
LargeCap S&P 500 Index
Fund |
13.6 |
14.3 |
14.9 |
15.1 |
15.2 |
15.0 |
LargeCap Value Fund
III |
9.4 |
9.9 |
10.4 |
10.9 |
10.9 |
10.9 |
MidCap Growth Fund
III |
5.6 |
6.0 |
6.3 |
6.5 |
6.4 |
6.3 |
MidCap Value Fund
I |
4.7 |
5.0 |
5.2 |
5.5 |
5.6 |
5.6 |
Origin Emerging Markets
Fund |
2.7 |
2.9 |
3.1 |
3.3 |
3.6 |
3.7 |
Overseas Fund |
9.3 |
10.0 |
10.3 |
10.8 |
11.1 |
11.3 |
Real Estate Securities
Fund |
2.5 |
2.3 |
2.5 |
2.3 |
2.4 |
2.5 |
SmallCap Growth Fund
I |
2.2 |
2.3 |
2.4 |
2.6 |
2.6 |
2.5 |
SmallCap Value Fund
II |
1.9 |
2.1 |
2.2 |
2.3 |
2.3 |
2.3 |
Total |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
Underlying
Fund |
Principal
LifeTime Hybrid Income Fund |
Principal
LifeTime Hybrid 2015 Fund |
Principal
LifeTime Hybrid 2020 Fund |
Principal
LifeTime Hybrid 2025 Fund |
Principal
LifeTime Hybrid 2030 Fund |
Principal
LifeTime Hybrid 2035 Fund |
Bond Market Index
Fund |
42.5% |
35.6% |
31.7% |
29.0% |
26.3% |
21.6% |
Diversified International
Fund |
5.9 |
10.4 |
13.3 |
15.9 |
17.4 |
19.3 |
Diversified Real Asset
Fund |
2.2 |
2.1 |
2.2 |
2.1 |
2.1 |
— |
High Income
Fund |
7.4 |
5.8 |
4.9 |
4.4 |
4.2 |
3.7 |
Inflation Protection
Fund |
4.7 |
4.2 |
4.0 |
3.6 |
2.2 |
— |
International Small Company
Fund |
1.0 |
1.8 |
2.1 |
2.4 |
2.9 |
3.1 |
LargeCap S&P 500 Index
Fund |
11.0 |
19.1 |
24.2 |
28.5 |
32.6 |
36.1 |
MidCap S&P 400 Index
Fund |
2.8 |
4.8 |
6.0 |
7.1 |
8.2 |
8.8 |
Origin Emerging Markets
Fund |
— |
— |
— |
— |
0.9 |
1.4 |
Real Estate Securities
Fund |
— |
— |
— |
— |
— |
2.5 |
Short-Term Income
Fund |
21.4 |
14.2 |
9.3 |
4.1 |
— |
— |
SmallCap S&P 600 Index
Fund |
1.1 |
2.0 |
2.3 |
2.9 |
3.2 |
3.5 |
Total |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
Underlying
Fund |
Principal
LifeTime Hybrid 2040 Fund |
Principal
LifeTime Hybrid 2045 Fund |
Principal
LifeTime Hybrid 2050 Fund |
Principal
LifeTime Hybrid 2055 Fund |
Principal
LifeTime Hybrid 2060 Fund |
Principal
LifeTime Hybrid 2065 Fund |
Bond Market Index
Fund |
16.3% |
11.7% |
8.8% |
5.9% |
4.4% |
4.1% |
Diversified International
Fund |
20.9 |
22.3 |
23.2 |
24.1 |
24.7 |
24.7 |
High Income
Fund |
3.0 |
2.6 |
2.0 |
1.9 |
1.6 |
1.5 |
International Small Company
Fund |
3.2 |
3.3 |
3.5 |
3.6 |
3.6 |
3.6 |
LargeCap S&P 500 Index
Fund |
38.8 |
41.0 |
42.7 |
43.9 |
44.5 |
45.0 |
MidCap S&P 400 Index
Fund |
9.7 |
10.5 |
10.9 |
11.4 |
11.6 |
11.6 |
Origin Emerging Markets
Fund |
1.7 |
1.9 |
1.9 |
2.1 |
2.3 |
2.2 |
Real Estate Securities
Fund |
2.5 |
2.5 |
2.5 |
2.5 |
2.5 |
2.6 |
SmallCap S&P 600 Index
Fund |
3.9 |
4.2 |
4.5 |
4.6 |
4.8 |
4.7 |
Total |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
Underlying
Fund |
SAM Balanced
Portfolio |
SAM
Conservative Balanced Portfolio |
SAM
Conservative Growth Portfolio |
SAM Flexible
Income Portfolio |
SAM
Strategic Growth Portfolio |
Blue Chip Fund |
9.1% |
6.6% |
12.5% |
1.8% |
15.3% |
Core Fixed Income
Fund |
12.5 |
18.5 |
4.9 |
24.5 |
— |
Diversified International
Fund |
11.7 |
8.2 |
17.2 |
— |
21.4 |
Diversified Real Asset
Fund |
3.2 |
2.9 |
3.6 |
— |
— |
EDGE MidCap
Fund |
4.2 |
2.9 |
6.1 |
1.5 |
6.6 |
Equity Income
Fund |
13.1 |
8.9 |
17.3 |
7.0 |
18.7 |
Global Diversified Income
Fund |
— |
2.7 |
— |
4.9 |
— |
Global Real Estate Securities
Fund |
3.0 |
2.4 |
3.5 |
3.8 |
5.3 |
Government & High Quality
Bond Fund |
6.9 |
10.6 |
3.1 |
12.5 |
— |
Government Money Market
Fund |
0.2 |
0.2 |
0.3 |
0.2 |
0.3 |
High Yield Fund |
1.5 |
2.3 |
— |
4.4 |
— |
Inflation Protection
Fund |
1.6 |
2.6 |
— |
6.3 |
— |
International Small Company
Fund |
1.5 |
1.0 |
1.9 |
— |
2.5 |
LargeCap Growth Fund
I |
— |
— |
— |
— |
4.9 |
LargeCap Value Fund
III |
— |
— |
— |
— |
2.4 |
Origin Emerging Markets
Fund |
1.5 |
1.0 |
2.0 |
— |
5.4 |
Principal Active Global
Dividend Income ETF |
4.9 |
2.0 |
3.3 |
7.6 |
5.8 |
Principal Active Income
ETF |
1.4 |
2.7 |
1.3 |
2.7 |
— |
Principal Investment Grade
Corporate Active ETF |
0.8 |
1.0 |
0.5 |
1.5 |
— |
Principal U.S. Mega-Cap
Multi-Factor Index ETF |
9.9 |
6.3 |
13.0 |
3.4 |
7.2 |
Principal U.S. Small-Cap
Multi-Factor Index ETF |
2.4 |
1.5 |
3.4 |
— |
4.2 |
Short-Term Income
Fund |
7.9 |
11.5 |
4.5 |
12.6 |
— |
Spectrum Preferred and Capital
Securities Income Fund |
2.7 |
4.2 |
1.6 |
5.3 |
— |
Total |
100.0% |
100.0% |
100.0% |
100.0% |
100.0% |
• |
the Balanced Portfolio should
offer investors the potential for a medium level of income and a medium
level of capital growth, while exposing them to a medium level of
principal risk, |
• |
the Conservative Balanced
Portfolio should offer investors the potential for a medium to high level
of income and a medium to low level of capital growth, while exposing them
to a medium to low level of principal
risk, |
• |
the Conservative Growth
Portfolio should offer investors the potential for a low to medium level
of income and a medium to high level of capital growth, while exposing
them to a medium to high level of principal
risk, |
• |
the Flexible Income Portfolio
should offer investors the potential for a high level of income and a low
level of capital growth, while exposing them to a low level of principal
risk, and |
• |
the Strategic Growth Portfolio
should offer investors the potential for a high level of capital growth,
and a corresponding level of principal
risk. |
• |
High yield securities may be
less liquid than investment grade
securities. |
• |
The secondary market on which
high yield securities are traded may be less liquid, which may reduce the
price of the security and adversely affect and cause large fluctuations in
the daily price of the Fund's shares. |
• |
Analysis of the
creditworthiness of issuers of high yield securities is more complex. To
the extent a Fund invests in high yield securities, its ability to meet
its objective may be more dependent on such credit
analyses. |
• |
High yield securities may be
more susceptible to real or perceived adverse economic and competitive
industry conditions. Although high yield securities prices tend to be less
sensitive to interest rate changes than those of investment grade
securities, they tend to be more sensitive to adverse economic downturns
or individual corporate developments. Adverse publicity and investor
perceptions, whether or not based on fundamental analysis, may decrease
the value and liquidity of high yield securities, especially in a thinly
traded market. |
• |
If the issuer of high yield
securities defaults, a Fund may incur additional expenses to seek
recovery. |
• |
If an issuer of high yield
securities undergoes a corporate restructuring, such high yield securities
may become exchanged for or converted into reorganized equity of the
underlying issuer. Moreover, to the extent that a bond indenture or loan
agreement does not contain sufficiently protective covenants or otherwise
permits the issuer to take certain actions to the Fund's detriment (such
as distributing cash to equity holders, incurring additional indebtedness,
and disposing of assets), the underlying value of the high yield security
may decline. |
Fund |
Total
Percentage of Outstanding Shares Owned |
Core Fixed Income
Fund |
62.39% |
Core Plus Bond
Fund |
61.21% |
Diversified International
Fund |
32.38% |
Equity Income
Fund |
32.17% |
Global Diversified Income
Fund |
2.52% |
Global Real Estate Securities
Fund |
15.62% |
Government & High Quality
Bond Fund |
55.59% |
Government Money Market
Fund |
100.00% |
High Income
Fund |
29.08% |
High Yield Fund |
8.42% |
Inflation Protection
Fund |
43.86% |
LargeCap Growth Fund
I |
19.31% |
LargeCap S&P 500 Index
Fund |
49.60% |
LargeCap Value Fund
III |
74.81% |
MidCap Fund |
3.52% |
MidCap Growth Fund
III |
47.81% |
MidCap S&P 400 Index
Fund |
33.28% |
MidCap Value Fund
I |
32.09% |
Overseas Fund |
67.79% |
Real Estate Securities
Fund |
4.63% |
Short-Term Income
Fund |
37.81% |
SmallCap Growth Fund
I |
22.14% |
SmallCap S&P 600 Index
Fund |
27.43% |
SmallCap Value Fund
II |
34.84% |
• |
Mortgage-backed
securities (“MBS”) represent an interest in a pool of underlying mortgage
loans secured by real property. MBS are sensitive to changes in interest
rates, but may respond to these changes differently from other fixed
income securities due to the possibility of prepayment of the underlying
mortgage loans. If interest rates fall and the underlying loans are
prepaid faster than expected, the fund may have to reinvest the prepaid
principal in lower yielding securities, thus reducing the fund’s income.
Conversely, rising interest rates tend to discourage refinancings and the
underlying loans may be prepaid more slowly than expected, reducing a
fund’s potential to reinvest the principal in higher yielding securities
and extending the duration of the underlying loans. In addition, when
market conditions result in an increase in default rates on the underlying
loans and the foreclosure values of the underlying real estate is less
than the outstanding amount due on the underlying loan, collection of the
full amount of accrued interest and principal on these investments may be
doubtful. The risk of such defaults is generally higher in the case of
underlying mortgage pools that include sub-prime mortgages (mortgages
granted to borrowers whose credit histories would not support conventional
mortgages). |
• |
Commercial
mortgage-backed securities (“CMBS”) represent an interest in a pool of
underlying commercial mortgage loans secured by real property such as
retail, office, hotel, multi-family, and industrial properties. Certain
CMBS are issued in several classes with different levels of yield and
credit protection, and the CMBS class in which a fund invests usually
influences the interest rate, credit, and prepayment
risks. |
• |
Asset-backed
securities (“ABS”) are backed by non-mortgage assets such as company
receivables, truck and auto loans, student loans, leases and credit card
receivables. ABS entail credit risk. They also may present a risk that, in
the event of default, the liquidation value of the underlying assets may
be inadequate to pay any unpaid interest or principal.
|
Advisor: |
Principal
Global Investors, LLC ("PGI"), 711 High Street, Des Moines,
IA 50392, is part of a diversified global asset management organization
which utilizes a multi-boutique strategy of specialized investment groups
and affiliates to provide institutional investors and individuals with
diverse investment capabilities, including fixed income, equities, real
estate, currency, asset allocation and stable value. PGI also has asset
management offices of affiliate advisors in non-U.S. locations including
London, Singapore, Tokyo, Hong Kong and Sydney. PGI has been an investment
advisor since 1998. |
• California
Municipal |
• Core Fixed
Income |
• Core Plus
Bond |
• Diversified
International |
• Equity Income
(services provided by Edge Asset Management, a specialized boutique of
PGI) |
• a portion of
Global Diversified Income (global value equity, opportunistic
mortgage-backed securities, and one of the high yield portions; and, on a
temporary basis, one or more strategies that seek to track the performance
of an index related to a particular sector or asset
class) |
• Government &
High Quality Bond |
• Government Money
Market |
• High Income
(services provided by Principal Portfolio StrategiesSM) |
• High
Yield |
• International
Emerging Markets |
• a portion of
LargeCap Growth I (services provided by Principal Portfolio
StrategiesSM) |
• LargeCap S&P
500 Index |
• a portion of
LargeCap Value III (services provided by Principal Portfolio
StrategiesSM) |
• MidCap (services
provided by Aligned Investors, a specialized boutique of
PGI) |
• a portion of
MidCap Growth III (services provided by Principal Portfolio
StrategiesSM) |
• MidCap S&P
400 Index |
• a portion of
MidCap Value I (services provided by Principal Portfolio
StrategiesSM) |
• Money Market
|
• a portion of
Overseas (services provided by Principal Portfolio StrategiesSM) |
• Principal Capital
Appreciation (services provided by Edge Asset Management)
|
• Principal
LifeTime Funds (services provided by Principal Portfolio
StrategiesSM) |
• Principal
LifeTime Hybrid Funds (services provided by Principal Portfolio
StrategiesSM) |
• SAM (Strategic
Asset Management) Portfolios (services provided by Principal Portfolio
StrategiesSM) |
• Short-Term Income
|
• SmallCap
|
• a portion of
SmallCap Growth I (services provided by Principal Portfolio
StrategiesSM) |
• SmallCap S&P
600 Index |
• a portion of
SmallCap Value II (services provided by Principal Portfolio
StrategiesSM) |
• Tax-Exempt
Bond
|
Sub-Advisor: |
AllianceBernstein
L.P. (“AllianceBernstein”), 1345 Avenue of the Americas,
New York, NY 10105, was founded in 1971 as an independent investment
advisor registered with the SEC. |
Fund: |
a portion of SmallCap Growth I
|
Sub-Advisor: |
Barrow,
Hanley, Mewhinney & Strauss, LLC (“BHMS”), 2200 Ross Avenue, 31st Floor,
Dallas, Texas 75201, is an investment advisory firm that was founded in
1979. |
Funds: |
a portion of LargeCap Value
III and a portion of Overseas |
Sub-Advisor: |
BlackRock
Financial Management, Inc. (“BlackRock”), 55 East 52nd Street, New
York, New York 10055, is a registered investment adviser organized in
1994. BlackRock and its affiliates manage investment company and other
portfolio assets. |
Fund: |
Inflation Protection
|
Sub-Advisor: |
Brown
Advisory, LLC (“Brown”), 901 South Bond Street, Suite
400, Baltimore, Maryland 21231, is a registered investment adviser that
works with institutions, corporations, nonprofits, families and
individuals. |
Funds: |
a portion of LargeCap Growth I
and a portion of SmallCap Growth I |
Sub-Advisor: |
Causeway
Capital Management LLC (“Causeway”), 11111 Santa Monica Boulevard,
15th Floor, Los Angeles, CA 90025, is a registered investment adviser
founded in 2001. |
Fund: |
a portion of
Overseas |
Sub-Advisor: |
Columbus
Circle Investors (“CCI”), Metro Center, One Station
Place, Stamford, CT 06902, founded in 1975, manages growth-oriented
portfolios in Large Cap, Mid Cap, SMID, and Small Cap categories for
domestic equities. CCI specializes in the management of discretionary
accounts for a variety of organizations. CCI also offers advisory services
for mutual funds and high net worth
individuals. |
Fund: |
MidCap
Growth |
Funds: |
a portion of
Global Diversified Income (high yield strategy) and a portion of High
Income |
Sub-Advisor: |
Eagle Asset
Management, Inc., 880 Carillon Parkway, St.
Petersburg, FL 33716, became an investment advisor in 1984 and is a
wholly-owned subsidiary of Carillon Tower Advisers, Inc. which is a
wholly-owned subsidiary of Raymond James Financial, Inc.
|
Fund: |
a portion of MidCap Growth
III |
Sub-Advisor:
|
Emerald
Advisers, LLC (“Emerald”) (formerly known as Emerald
Advisers, Inc.), 3175 Oregon Pike, Leola, PA 17540, was founded in 1991
and manages institutional separate account and mutual fund investment
portfolios for corporations, public and private pension funds, and for
individual retail investors. |
Fund: |
a portion of SmallCap Growth
I |
Sub-Advisor: |
Finisterre
Capital LLP (“Finisterre”), 10 New Burlington Street,
London, England W1S 3BE, manages emerging market assets for a variety of
investors. |
Fund: |
Finisterre Unconstrained
Emerging Markets Bond and
a portion of
Global Diversified Income (emerging market debt strategy) |
Sub-Advisor: |
Hotchkis
and Wiley Capital Management, LLC, 601 S. Figueroa Street, 39th
Floor, Los Angeles, CA 90017 is an investment advisory firm founded in
1980 that manages value portfolios for institutional and individual
investors.
|
Fund: |
a portion of SmallCap Value
Fund II |
Sub-Advisor: |
Los Angeles
Capital Management and Equity Research, Inc. ("Los Angeles
Capital"), 11150
Santa Monica Boulevard, Suite 200, Los Angeles, CA 90025, founded in 2002,
is a registered investment adviser offering risk-controlled, active equity
management services to a broad range of institutional
investors. |
Funds: |
a portion of MidCap Value I
and a portion of SmallCap Value II |
Sub-Advisor: |
Mellon
Investments Corporation (“Mellon”), BNY Mellon Center, One
Boston Place, Boston, MA 02108, is a multi-asset investment adviser
providing clients with a wide range of investment solutions.
|
Fund: |
a portion of High
Income |
Sub-Advisor: |
MetLife
Investment Management, LLC (“MIM”), One MetLife Way, Whippany, NJ
07981, an institutional investment adviser with a range of investment
management services in public and private fixed income, equity and real
estate, including structured finance, corporate, emerging market, and high
yield debt; customized equity and debt index strategies; real estate
equity; commercial mortgage loans and alternative
investments. |
Fund: |
a portion of Global
Diversified Income (one of the sub-advisors for the emerging markets debt
portion) |
Sub-Advisor:
|
Origin
Asset Management LLP ("Origin"), One Carey Lane, London, EC2V
8AE, UK manages global equity securities for institutional
clients. |
Fund: |
International
I |
Sub-Advisor: |
Post
Advisory Group, LLC (“Post”), 2049 Century Park East, Suite
3050, Los Angeles, CA 90067, founded in 1992, is a global investment
manager specializing in high yield securities with a multi-strategy,
value-oriented investment approach. |
Fund: |
a portion of Global
Diversified Income (one of the sub-advisors for the high yield
portion) and a portion
of High Income |
Sub-Advisor: |
Principal
Real Estate Investors, LLC (“Principal - REI”), 711 High Street, Des Moines,
IA 50392, was founded in 2000 and manages commercial real estate across
the spectrum of public and private equity and debt investments, primarily
for institutional investors. |
Funds: |
Global Real Estate Securities,
Real Estate Securities, and a portion of Global Diversified Income (global
real estate and CMBS strategies) |
Sub-Advisor: |
Robert W.
Baird & Co. Incorporated (“Baird”), 777 East Wisconsin Avenue,
Milwaukee, Wisconsin 53202, was founded in 1919. Baird provides investment
management services for individuals and institutional clients including
pension and profit sharing plans. |
Fund: |
a portion of MidCap Growth
III |
Sub-Advisor: |
Spectrum
Asset Management, Inc. (“Spectrum”), 2 High Ridge Park, Stamford,
CT 06905, founded in 1987, manages portfolios of preferred securities for
corporate, pension fund, insurance and endowment clients, open-end and
closed-end mutual funds, and separately managed account programs for high
net worth individual investors as well as providing volatility mitigation
solutions for some client portfolios. |
Fund: |
a portion of Global
Diversified Income (preferred securities strategy) |
Sub-Advisor: |
T. Rowe
Price Associates, Inc. (“T. Rowe Price”), 100 East Pratt Street,
Baltimore, MD 21202, has over 75 years of investment management
experience. |
Fund: |
a portion of LargeCap Growth I
|
Sub-Advisor: |
Vaughan
Nelson Investment Management, LP (“Vaughan Nelson”), 600 Travis Street,
Suite 6300, Houston, Texas 77002, was founded in
1970. |
Fund: |
a portion of SmallCap Value
II |
Sub-Advisor:
|
Victory
Capital Management Inc. (“Victory”), 15935 La Cantera Pkwy, San
Antonio, TX 78256, is an SEC-registered investment adviser that provides
asset management services to individual and institutional clients through
multiple investment franchises. |
Fund: |
a portion of MidCap Value
I |
Sub-Advisor: |
W. H.
Reaves & Co., Inc. (doing business as Reaves Asset
Management), 10
Exchange Place, 18th Floor, Jersey City, NJ 07302, was founded in
1961 as an institutional research firm and is an SEC registered
adviser. |
Fund: |
a portion of Global
Diversified Income (one of the sub-advisors for the publicly-listed
infrastructure strategy) |
Sub-Advisor: |
Westwood
Management Corp. (“Westwood”), 200 Crescent Court, Suite
1200, Dallas, Texas 75201, is a registered investment advisor that was
founded in 1983. |
Fund: |
a portion of LargeCap Value
III |
California Municipal
Fund |
0.45 |
% |
Principal LifeTime 2035 Fund
|
0.00 |
% | |
Core Fixed Income
Fund |
0.48 |
% |
Principal LifeTime 2040 Fund
|
0.00 |
% | |
Core Plus Bond
Fund |
0.51 |
% |
Principal LifeTime 2045 Fund
|
0.00 |
% | |
Diversified International
Fund |
0.81 |
% |
Principal LifeTime 2050 Fund
|
0.00 |
% | |
Equity Income
Fund |
0.51 |
% |
Principal LifeTime 2055 Fund
|
0.00 |
% | |
Finisterre Unconstrained
Emerging Markets Bond Fund |
0.79 |
% |
Principal LifeTime 2060 Fund
|
0.00 |
% | |
Global Diversified Income
Fund |
0.72 |
% |
Principal LifeTime 2065
Fund |
0.00 |
% | |
Global Real Estate Securities
Fund |
0.86 |
% |
Principal LifeTime Hybrid
Income Fund |
0.00 |
% | |
Government & High Quality
Bond Fund |
0.50 |
% |
Principal LifeTime Hybrid 2015
Fund |
0.00 |
% | |
Government Money Market
Fund |
0.15 |
% |
Principal LifeTime Hybrid 2020
Fund |
0.00 |
% | |
High Income
Fund |
0.61 |
% |
Principal LifeTime Hybrid 2025
Fund |
0.00 |
% | |
High Yield Fund |
0.51 |
% |
Principal LifeTime Hybrid 2030
Fund |
0.00 |
% | |
Inflation Protection
Fund |
0.38 |
% |
Principal LifeTime Hybrid 2035
Fund |
0.00 |
% | |
International Emerging Markets
Fund |
1.20 |
% |
Principal LifeTime Hybrid 2040
Fund |
0.00 |
% | |
International Fund
I |
0.90 |
% |
Principal LifeTime Hybrid 2045
Fund |
0.00 |
% | |
LargeCap Growth Fund
I |
0.60 |
% |
Principal LifeTime Hybrid 2050
Fund |
0.00 |
% | |
LargeCap S&P 500 Index
Fund |
0.15 |
% |
Principal LifeTime Hybrid 2055
Fund |
0.00 |
% | |
LargeCap Value Fund
III |
0.77 |
% |
Principal LifeTime Hybrid 2060
Fund |
0.00 |
% | |
MidCap Fund |
0.58 |
% |
Principal LifeTime Hybrid 2065
Fund |
0.00 |
% | |
MidCap Growth
Fund |
0.65 |
% |
Real Estate Securities
Fund |
0.80 |
% | |
MidCap Growth Fund
III |
0.98 |
% |
SAM Balanced
Portfolio |
0.28 |
% | |
MidCap S&P 400 Index
Fund |
0.15 |
% |
SAM Conservative Balanced
Portfolio |
0.28 |
% | |
MidCap Value Fund
I |
0.73 |
% |
SAM Conservative Growth
Portfolio |
0.28 |
% | |
Money Market
Fund |
0.40 |
% |
SAM Flexible Income Portfolio
|
0.28 |
% | |
Overseas Fund |
1.06 |
% |
SAM Strategic Growth Portfolio
|
0.28 |
% | |
Principal LifeTime Strategic
Income Fund |
0.00 |
% |
Short-Term Income
Fund |
0.41 |
% | |
Principal LifeTime 2010 Fund
|
0.00 |
% |
SmallCap Fund |
0.75 |
% | |
Principal LifeTime 2010 Fund
|
0.00 |
% |
SmallCap Growth Fund
I |
1.08 |
% | |
Principal LifeTime 2015 Fund
|
0.00 |
% |
SmallCap S&P 600 Index
Fund |
0.15 |
% | |
Principal LifeTime 2020 Fund
|
0.00 |
% |
SmallCap Value Fund
II |
0.99 |
% | |
Principal LifeTime 2025 Fund
|
0.00 |
% |
Tax-Exempt Bond
Fund |
0.45 |
% | |
Principal LifeTime 2030 Fund
|
0.00 |
% |
Annual
Report to Shareholders
for the
period ending October 31, 2019 | ||
Fund |
Management
Agreement |
Sub-Advisory
Agreement |
All Funds |
X |
X |
• |
hire one or more sub-advisors;
|
• |
change sub-advisors; and
|
• |
reallocate management fees
between PGI and sub-advisors. |
Funds |
Unaffiliated
Sub-Advisors |
Wholly-Owned
Affiliated
Sub-Advisors |
Majority-Owned
Affiliated
Sub-Advisors |
All
Sub-Advisors Regardless of Degree of Affiliation |
California Municipal and
Tax‑Exempt Bond |
X |
|||
All Other Funds |
X |
X |
X |
• |
on a day that the NYSE is open
and |
• |
before the close of trading on
the NYSE (normally 3:00 p.m. Central
Time). |
• |
taking the current market
value of the total assets of the Fund |
• |
subtracting liabilities of the
Fund |
• |
dividing the remainder
proportionately into the classes of the
Fund |
• |
subtracting the liability of
each class |
• |
dividing the remainder by the
total number of shares outstanding for that
class. |
• |
If market quotations are not
readily available for a security owned by a Fund, its fair value is
determined using a policy adopted by the Directors. Fair valuation pricing
is subjective and creates the possibility that the fair value determined
for a security may differ materially from the value that could be realized
upon the sale of the security. |
• |
A Fund’s securities may be
traded on foreign securities markets that generally complete trading at
various times during the day before the close of the NYSE. Foreign
securities and currencies are converted to U.S. dollars using the exchange
rate in effect at the close of the NYSE. Securities traded outside of the
Western Hemisphere are valued using a fair value policy adopted by the
Fund. These fair valuation procedures are intended to discourage
shareholders from investing in the Fund for the purpose of engaging in
market timing or arbitrage transactions. |
• |
The trading of foreign
securities generally or in a particular country or countries may not take
place on all days the NYSE is open, or may trade on days the NYSE is
closed. Thus, the value of the foreign securities held by the Fund may
change on days when shareholders are unable to purchase or redeem
shares. |
• |
Certain securities issued by
companies in emerging market countries may have more than one quoted
valuation at any point in time. These may be referred to as local price
and premium price. The premium price is often a negotiated price that may
not consistently represent a price at which a specific transaction can be
effected. The Fund has a policy to value such securities at a price at
which the Advisor expects the securities may be
sold. |
Regular Mail |
Overnight
Mail |
Principal
Funds |
Principal
Funds |
P.O. Box
219971 |
430 W. 7th Street, Ste.
219971 |
Kansas City, MO
64121-9971 |
Kansas City, MO
64105-1407 |
• |
Principal Securities, Inc.
("PSI") who are also employees of Principal Life distribution channels
used to directly market certain products and services of subsidiaries of
Principal Financial Group, Inc. as well as provide retirement plan
services and education on topics such as investing and retirement. These
PSI registered representatives are with Principal Connection (part of
Principal Bank), and |
• |
Selected broker-dealers that
have entered into a selling agreement to offer Class J
shares. |
Eligible
purchasers currently include, but are not limited to: |
Institutional |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 |
retirement and pension plans to
which Principal Life Insurance Company (“Principal Life”) provides
recordkeeping services |
X |
X |
X |
X |
X |
X |
X |
separate accounts of Principal
Life |
X |
X |
X |
X |
X |
X |
X |
Principal Life or any of its
subsidiaries or affiliates |
X |
X |
X |
X |
X |
X |
X |
any fund distributed by PFD if
the fund seeks to achieve its investment objective by investing primarily
in shares of mutual funds |
X |
X |
X |
X |
X |
X |
X |
clients of Principal Global
Investors, LLC |
X |
X |
X |
X |
X |
X |
X |
certain employer sponsored
retirement plans with plan level omnibus accounts |
X |
X |
X |
X |
X |
X |
X |
certain pension plans and
employee benefit plans |
X |
X |
X |
X |
X |
X |
X |
certain retirement account
investment vehicles administered by foreign or domestic pension
plans |
X |
X |
X |
X |
X |
X |
X |
an investor who buys shares
through an omnibus account with certain intermediaries, such as a
broker-dealer, bank, or other financial institution, pursuant to a written
agreement between the intermediary and PFD or its
affiliate |
X |
X |
X |
X |
X |
X |
X |
certain retirement plan clients
that have an organization, approved by Principal Life, for purposes of
providing plan recordkeeping services |
X |
X |
X |
X |
X |
X |
X |
investors investing at least
$1,000,000 per fund |
X |
X | |||||
sponsors, recordkeepers, or
administrators of wrap account, mutual fund asset allocation, or fee-based
programs or participants in those programs |
X |
X | |||||
certain institutional investors
that provide recordkeeping for retirement plans or other employee benefit
plans |
X |
X | |||||
institutional clients that
Principal Life has approved for purposes of providing plan
recordkeeping |
X |
X | |||||
institutional investors
investing for their own account, including banks, trust companies,
financial intermediaries, corporations, endowments and
foundations |
X |
X | |||||
collective trust funds, fund of
funds or other pooled investment vehicles, and entities acting for the
account of a public entity |
X |
X | |||||
certain clients of a private
banking division pursuant to a written agreement between the bank and PFD
or its affiliate |
X |
X | |||||
the portfolio manager of any
adviser to the fund |
X |
||||||
certain institutional investors
with special arrangements (for example, insurance companies, employee
benefit plans, retirement plans, and Section 529 Plans, among
others) |
X |
X | |||||
retirement plans and IRAs
investing through a retirement marketplace enabled by state
legislation |
X |
• |
Shareholders, including those
in omnibus accounts, who owned shares of the MidCap Fund as of June 14,
2013 (for retail investors, i.e., non-employer sponsored retirement plan
investors) or August 15, 2013 (for employer sponsored retirement plan
investors), may continue to make purchases, exchanges, and dividend or
capital gains reinvestment in existing
accounts. |
• |
Registered Investment Advisor
(RIA) and bank trust firms that have an investment allocation to the
MidCap Strategy (i.e. investments in the same strategy used in collective
investment trust, separately managed accounts, individually managed
accounts or insurance separate accounts) in a fee-based, wrap or advisory
account, may continue to add new clients, purchase shares, and exchange
into the MidCap Fund. The MidCap Fund will not be available to new RIA and
bank trust firms. |
• |
Shareholders through accounts
at private banks may continue to purchase shares and exchange into the
MidCap Fund. Private banks that have an investment allocation to the
MidCap Strategy may add new clients to the MidCap Fund. The MidCap Fund
will not be available to private bank or private bank platforms not
already investing in the MidCap Strategy. |
• |
Shareholders in broker/dealer
wrap or fee-based programs that have an investment allocation to the
MidCap Fund may continue to purchase shares and exchange into the MidCap
Fund. Existing broker/dealer wrap or fee-based programs may add new
participants. |
• |
Shareholders in certain types
of retirement plans (including 401(k)s, SEPs, SIMPLEs, 403(b)s, etc.) may
continue to purchase shares and exchange into the MidCap Fund. New
participants in these plans may elect to purchase shares of the MidCap
Fund. |
• |
Shareholders within brokerage
accounts may continue to purchase shares of the MidCap Fund; however, new
brokerage accounts will not be permitted to begin investing in the MidCap
Fund after June 14, 2013. |
• |
529 plans that include the
MidCap Fund within their investment options may continue to purchase
shares and exchange into the MidCap Fund. |
• |
Investors who have a direct
investment in the MidCap Strategy may, subject to the approval of the
Distributor, purchase shares in the MidCap
Fund. |
• |
Shareholders that invest
through accounts with Principal Securities,
Inc. |
• |
lump sum of the entire
interest in the account, |
• |
partial interest in the
account, or |
• |
periodic payments of either a
fixed amount or an amount based on certain life expectancy
calculations. |
• |
payable to all owners on the
account (as shown in the account registration)
and |
• |
mailed to the address on the
account (if not changed within the last 15 days) or sent by wire or
ACH to a previously authorized U.S. bank account (if not added or changed
within the last 15 days). |
• |
when an owner has
died; |
• |
for certain employee benefit
plans; or |
• |
owned by corporations,
partnerships, agents, or fiduciaries. |
• |
Send a letter or our
distribution form which is signed by an owner of the account,
|
• |
Specify the account number,
and |
• |
Specify the number of shares
or the dollar amount to be sold. |
• |
The request may be made by a
shareholder or by the shareholder’s Financial
Professional. |
• |
The combined amount requested
from all funds to which the redemption request relates is $100,000 or
less. |
• |
The address on the account
must not have been changed within the last 15 days and telephone
privileges must apply to the account from which the shares are being
sold. |
• |
Wire or ACH to a previously
authorized U.S. bank account that must not have been added or changed
within the last 15 days. |
• |
If our phone lines are busy or
our website is unavailable, you may need to send in a written sell
order. |
• |
Checkwriting must be elected
on initial application or by written request to Principal Funds. Such
election continues in effect until the Fund receives written notice
revoking or changing the election. |
• |
The Fund can only sell shares
after your check making the Fund investment has cleared your
bank. |
• |
Checks must be written for at
least $250. The Fund reserves the right to increase the minimum check
amount. |
• |
The rules of the bank on which
the checks are drawn concerning checking accounts
apply. |
• |
If the account does not have
sufficient funds to cover the check, it is marked “Insufficient Funds” and
returned (the Fund may revoke checkwriting on accounts on which
“Insufficient Funds” checks are drawn). |
• |
Accounts may not be closed by
withdrawal check (accounts continue to earn dividends until checks clear
and the exact value of the account is not known until the check is
received by the bank). |
• |
Checkwriting is available only
for non-qualified accounts. |
• |
Neither the Fund, the bank,
nor PGI shall incur any liability for honoring the checks, selling shares
to pay checks, or for returning checks
unpaid. |
• |
Checkwriting may be converted
to a point-of-purchase debit from your account. This only applies if such
service is available at the business with which you are doing
business. |
• |
Send a letter or our
distribution form which is signed by an owner of the account,
|
• |
Specify the account number,
and |
• |
Specify the number of shares
or the dollar amount to be sold. |
• |
Telephone privileges must
apply to the account from which the shares are
sold. |
• |
A shareholder or the
shareholder’s Financial Professional may request to sell shares by
telephone. |
• |
A maximum amount (listed
below) of redemption requests will be permitted per day per account, as
the combined amount from all funds, provided the proceeds are to be sent
to a previously authorized U.S. bank account that must not have been added
or changed within the last 15 days: |
• |
A maximum of $500,000 of
redemption requests will be permitted per day, as the combined amount from
all funds, provided the proceeds are to be sent by check through the mail
to the address on the account and such address must not have changed
within the last 15 days. |
• |
If our telephone lines are
busy, you may need to send in a written sell
order. |
• |
completing the applicable
section of the application, |
• |
sending us your written
instructions, |
• |
completing a Systematic
Withdrawal Plan Request form, or |
• |
calling us if you have
telephone privileges on the account (telephone privileges may not be
available for all types of accounts). |
• |
you instruct us to stop
or |
• |
your Fund account balance is
zero. |
• |
filing a prospectus
supplement |
• |
filing Form
N-CR |
• |
posting information on its
website |
• |
sending a written request to
Principal Funds, |
• |
using our website,
or |
• |
calling us, if you have
telephone privileges on the account. |
• |
Class A shares of other
Funds. |
• |
If Money Market Fund shares
were acquired by direct purchase, a sales charge will be imposed on the
exchange into other Class A shares. |
• |
If Money Market Fund shares
were acquired by (1) exchange from other Funds, (2) conversion
of Class B shares, or (3) reinvestment of dividends earned on
Class A shares that were acquired through exchange, no sales charge
will be imposed on the exchange into other Class A
shares. |
• |
Class C shares of other
Funds - subject to the applicable
CDSC. |
• |
completing the Automatic
Exchange Election section of the
application, |
• |
calling us if telephone
privileges apply to the account from which the exchange is to be
made, |
• |
sending us your written
instructions, or |
• |
completing an Automatic
Exchange Election form. |
• |
you instruct us to stop (by
calling us if telephone privileges apply to the account or sending us your
written instructions) or |
• |
your Fund account balance of
the account from which shares are redeemed is zero.
|
• |
An exchange by any joint owner
is binding on all joint owners. |
• |
If you do not have an existing
account in the Fund to which the exchange is being made, a new account is
established. The new account has the same owner(s), dividend and capital
gain options and dealer of record as the account from which the shares are
being exchanged. |
• |
All exchanges are subject to
the minimum investment and eligibility requirements of the Fund being
acquired. |
• |
You may acquire shares of a
Fund only if its shares are legally offered in your state of
residence. |
• |
accounts with identical
ownership, |
• |
an account with a single owner
to one with joint ownership if the owner of the single owner account is
also an owner of the account with joint
ownership, |
• |
a single owner to a Uniform
Transfers to Minors Act ("UTMA") account if the owner of the single owner
account is also the custodian on the UTMA account,
or |
• |
a single or jointly owned
account to an IRA account to fund the yearly IRA contribution of the owner
(or one of the owners in the case of a jointly owned
account). |
• |
the shareholder has not
exchanged shares of the Fund within 30 days preceding the exchange, unless
the shareholder is exchanging into the Money Market
Fund, |
• |
the share class of such other
Fund is available through the
intermediary, |
• |
the share class of such other
Fund is available in the shareholder’s state of residence,
and |
• |
with respect to shares
purchased through an intermediary that is willing and able to impose the
30-day exchange or repurchase restriction described below, the shareholder
has not exchanged shares of the Fund within 30 days preceding the
exchange, unless the shareholder is exchanging into the Money Market
Fund. |
• |
exchange and repurchase
limitations that the intermediary is able to impose if, in management’s
judgment, such limitations are reasonably likely to prevent excessive
trading in Fund shares; or |
• |
the implementation of other
transaction monitoring management believes is reasonably likely to
identify and prevent excessive trading in Fund
shares. |
• |
The California
Municipal, Core Fixed Income, Core Plus Bond, Government & High
Quality Bond, High Yield, Short-Term Income, and Tax-Exempt Bond Funds
declare dividends of their daily net investment income each day their
shares are priced. The Funds pay out their accumulated declared dividends
monthly. |
• |
The Government
Money Market Fund declares dividends of all its daily net investment
income each day its shares are priced. On the last business day of each
month (or the previous business day), the Fund will distribute its
accumulated declared dividends. |
• |
The Money
Market Fund declares dividends of all its daily net investment income each
day its shares are priced. On the last business day of each month (or the
previous business day), the Fund will distribute its accumulated declared
dividends. You may ask to have your dividends paid to you in cash. If you
do not request cash payment, your dividend will be applied to purchase
additional shares of the Fund monthly. |
• |
The Finisterre
Unconstrained Emerging Markets Bond Fund, Global Diversified Income Fund,
High Income, and SAM Flexible Income Portfolio pay their net investment
income monthly. |
• |
The Equity Income, Global Real
Estate Securities, Inflation Protection, and Real Estate Securities Funds
and the SAM Conservative Balanced, and SAM Balanced Portfolios each pay
their net investment income quarterly in March, June, September, and
December. |
• |
The other Funds pay their net
investment income annually in December. |
• |
invested in shares of another
of the Principal Funds without a sales charge (distributions of a Fund may
be directed only to one receiving Fund);
or |
• |
paid in cash, if the amount is
$10 or more. |
• |
Disrupt the management of the
Funds by: |
• |
forcing the Funds to hold
short-term (liquid) assets rather than investing for long-term growth,
which results in lost investment opportunities for the Funds
and |
• |
causing unplanned portfolio
turnover; |
• |
Hurt the portfolio performance
of the Funds; and |
• |
Increase expenses of the Funds
due to: |
• |
increased broker-dealer
commissions and |
• |
increased recordkeeping and
related costs. |
• |
Rejecting exchange
instructions from the shareholder or other person authorized by the
shareholder to direct exchanges; |
• |
Restricting submission of
exchange requests by, for example, allowing exchange requests to be
submitted by 1st class U.S. mail only and disallowing
requests made by facsimile, overnight courier, telephone or via the
internet; |
• |
Limiting the number of
exchanges during a year; and |
• |
Taking such other action as
directed by the Fund. |
• |
the dollar amount you are
investing, |
• |
the amount of time you plan to
hold the investment, |
• |
any plans to make additional
investments in the Principal Funds, and |
• |
eligibility to purchase the
class. |
Core Plus
Bond, Finisterre Unconstrained Emerging Markets Bond, High Income, High
Yield, Inflation Protection,
Principal
LifeTime 2010, and Principal LifeTime Strategic Income
Funds | ||||
Class A
Sales Charge as % of: |
Dealer
Allowance as % | |||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
of Offering
Price | |
Less than
$100,000 |
3.75% |
3.90% |
3.00% | |
$100,000 but less than
$250,000 |
2.75% |
2.83% |
2.25% | |
$250,000 but less than
$500,000 |
1.50% |
1.52% |
1.00% | |
$500,000 or
more |
0.00% |
0.00% |
0.00%* | |
* |
The Distributor may pay
authorized dealers commissions on purchases of Class A shares over
$500,000 calculated as follows: 1.00% on purchases between $500,000 and
$4,999,999, 0.50% on purchases between $5 million and $49,999,999, and
0.25% on purchases of $50 million or more. The commission rate is
determined based on the cumulative investments over the life of the
account combined with the investments in existing Classes A, C, and J
shares. |
California
Municipal and Tax-Exempt Bond Funds | ||||
Class A
Sales Charge as % of: |
Dealer
Allowance as % | |||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
of Offering
Price | |
Less than
$100,000 |
3.75% |
3.90% |
3.00% | |
$100,000 but less than
$250,000 |
2.75% |
2.83% |
2.25% | |
$250,000 or
more |
0.00% |
0.00% |
0.00%* | |
* |
The Distributor may pay
authorized dealers commissions on purchases of Class A shares over
$250,000 calculated as follows: 1.00% on purchases between $250,000 and
$4,999,999, 0.75% on purchases between $5 million and $9,999,999, 0.50% on
purchases between $10 million and 49,999,999, and 0.25% on purchases of
$50 million or more. The commission rate is determined based on the
cumulative investments over the life of the account combined with the
investments in existing Classes A, C, and J
shares. |
Global
Diversified Income Fund and SAM Flexible Income
Portfolio | ||||
Class A
Sales Charge as % of: |
Dealer
Allowance as % | |||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
of Offering
Price | |
Less than
$100,000 |
3.75% |
3.90% |
3.00% | |
$100,000 but less than
$250,000 |
2.75% |
2.83% |
2.25% | |
$250,000 or
more |
0.00% |
0.00% |
0.00%* | |
* |
The Distributor may pay
authorized dealers commissions on purchases of Class A shares over
$250,000 calculated as follows: 1.00% on purchases between $250,000 and
$4,999,999, 0.50% on purchases between $5 million and 49,999,999, and
0.25% on purchases of $50 million or more. The commission rate is
determined based on the cumulative investments over the life of the
account combined with the investments in existing Classes A, C, and J
shares. |
Government
& High Quality Bond Fund | ||||
Class A
Sales Charge as % of: |
Dealer
Allowance as % | |||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
of Offering
Price | |
Less than
$100,000 |
2.25% |
2.30% |
2.00% | |
$100,000 but less than
$250,000 |
1.75% |
1.78% |
1.50% | |
$250,000 but less than
$500,000 |
1.25% |
1.27% |
1.00% | |
$500,000 or
more |
0.00% |
0.00% |
0.00%* | |
* |
The Distributor may pay
authorized dealers commissions on purchases of Class A shares over
$500,000 calculated as follows: 1.00% on purchases between $500,000 and
$4,999,999, 0.50% on purchases between $5 million and $49,999,999, and
0.25% on purchases of $50 million or more. The commission rate is
determined based on the cumulative investments over the life of the
account combined with the investments in existing Classes A, C, and J
shares. |
Core Fixed
Income and Short-Term Income Funds | ||||
Class A
Sales Charge as % of: |
Dealer
Allowance as % | |||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
of Offering
Price | |
Less than
$100,000 |
2.25% |
2.30% |
2.00% | |
$100,000 but less than
$250,000 |
1.75% |
1.78% |
1.50% | |
$250,000 or
more |
0.00% |
0.00% |
0.00%* | |
* |
The Distributor may pay
authorized dealers commissions on purchases of Class A shares over
$250,000 calculated as follows: 1.00% on purchases between $250,000 and
$4,999,999, 0.50% on purchases between $5 million and 49,999,999, and
0.25% on purchases of $50 million or more. The commission rate is
determined based on the cumulative investments over the life of the
account combined with the investments in existing Classes A, C, and J
shares. |
LargeCap
S&P 500 Index Fund | |||
Class A
Sales Charge as % of: |
Dealer
Allowance as % | ||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
of Offering
Price |
Less than
$50,000 |
1.50% |
1.52% |
1.25% |
$50,000 but less than
$100,000 |
1.25% |
1.27% |
1.00% |
$100,000 but less than
$250,000 |
1.00% |
1.01% |
0.75% |
$250,000 but less than
$500,000 |
0.75% |
0.76% |
0.50% |
$500,000 but less than
$1,000,000 |
0.50% |
0.50% |
0.25% |
$1,000,000 or
more |
0.00% |
0.00% |
0.25% |
All other
Funds
(except
Money Market Fund, for which there is no Class A sales
charge) | ||||
Class A
Sales Charge as % of: |
Dealer
Allowance as % | |||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
of Offering
Price | |
Less than
$50,000 |
5.50% |
5.82% |
4.75% | |
$50,000 but less than
$100,000 |
4.75% |
4.99% |
4.00% | |
$100,000 but less than
$250,000 |
3.75% |
3.90% |
3.00% | |
$250,000 but less than
$500,000 |
3.00% |
3.09% |
2.50% | |
$500,000 but less than
$1,000,000 |
2.00% |
2.04% |
1.75% | |
$1,000,000 or
more |
0.00% |
0.00% |
0.00%* | |
* |
The Distributor may pay
authorized dealers commissions on purchases of Class A shares over $1
million calculated as follows: 1.00% on purchases between $1,000,000 and
$4,999,999, 0.50% on purchases between $5 million and $49,999,999, and
0.25% on purchases of $50 million or more. The commission rate is
determined based on the cumulative investments over the life of the
account combined with the investments in existing Classes A, C, and J
shares. |
• |
No initial sales charge will
apply to purchases of Fund shares if the purchase is of sufficient size as
disclosed in the preceding “Class A Sales Charges”
table. |
• |
You may reinvest the Funds’
Class A share redemption proceeds without a sales charge within 90 days of
the redemption, if you previously paid a sales charge. Shares invested
directly within the Class A Money Market Fund are not eligible for this
waiver; however, shares in the Money Market Fund that were obtained by
exchange of another Fund that imposed an initial sales charge are
eligible. |
• |
A Fund’s Class A shares may be
purchased without an initial sales charge by the following individuals,
groups, and/or entities: |
• |
current and former Directors
of Principal Funds, member companies of Principal®, and their active or retired
employees, officers, directors, brokers, or agents (for the life of the
account). This also includes their immediate family members (spouse,
domestic partner, children (regardless of age and including in-laws), and
parents, including in-laws) and trusts created by or primarily for the
benefit of these individuals; |
• |
any employee or registered
representative (and their immediate family members and employees) of an
authorized broker-dealer or company that makes available shares of a
Fund; |
• |
clients investing in Class A
shares through a “wrap account” or investment product offered through
broker-dealers, registered investment advisors, and other financial
institutions under which clients may pay a fee to the broker-dealer,
registered investment advisor, or financial
institution; |
• |
any investor who buys Class A
shares through an omnibus account held by financial intermediaries, such
as a bank, broker-dealer, or other financial institution, and that does
not accept or charge the initial sales
charge; |
• |
financial intermediaries who
offer shares to self-directed investment brokerage accounts;
and |
• |
retirement plans or benefit
plans, or participants in such plans, where the plan’s investments in the
Fund are part of an omnibus account. For clarification, such plans do not
include individual retirement arrangements under IRC Section 408, such as
Simplified Employee Pensions (SEP), SIMPLE IRAs or other IRAs;
and |
• |
shareholders who acquired
Class A shares of Principal Capital Appreciation Fund through that fund's
acquisition of Class J shares of the LargeCap Blend Fund
II. |
• |
The following two bullet
points are only applicable to intermediaries that are affiliated with
Principal Financial Group, Inc. A Fund’s Class A shares may be purchased
without an initial sales charge by the following individuals, groups,
and/or entities: |
• |
Premier Credit Union when the
shares are owned directly with Principal Funds;
and |
• |
non-ERISA clients of Principal
Global Investors LLC. |
(1) |
Rights of Accumulation. The
sales charge varies with the size of your purchase. Purchases made by you,
your spouse or domestic partner, your children (including children of your
spouse or domestic partner) age 25 or under, and/or a trust created by or
primarily for the benefit of such persons (together “a Qualified
Purchaser”) will be combined along with the value of existing Classes A,
C, and J shares of Principal Funds owned by such persons, to determine the
applicable sales charge. Class A shares of the Money Market Fund are not
included in the calculation unless they were acquired in exchange from
other Principal Fund shares. If the total amount being invested in the
Principal Funds is near a sales charge breakpoint, you should consider
increasing the amount invested to take advantage of a lower sales
charge. |
(2) |
Statement of Intent (SOI).
Qualified Purchasers may obtain reduced sales charges by signing an SOI.
The SOI is a nonbinding obligation on the Qualified Purchaser to purchase
the full amount indicated in the SOI. Purchases made by you, your spouse
or domestic partner, or the children of you, your spouse or domestic
partner up to and including the age of 25 and/or a trust created by or
primarily for the benefit of such persons (together “a Qualified
Purchaser”) will be combined along with the value of existing Classes A,
C, and J shares of Principal Funds owned by such persons. Purchases of
Class A shares of Money Market Fund are not included. The sales charge is
based on the total amount to be invested in a 13-month period. If the
intended investment is not made (or shares are sold during the 13-month
period), sufficient shares will be sold to pay the additional sales charge
due. If a shareholder who signs an SOI dies within the 13-month period, no
additional front-end sales charge will be required and the SOI will be
considered met. An SOI is not available for 401(a) plan
purchases. |
(3) |
The maximum sales charge that
applies to purchases of Class A shares by qualified plans administered by
Expertplan, Inc. that were previously converted from B share plans is the
sales charge that applies to purchases of at least $250,000 but less than
$500,000 as described in the sales charge tables; the regular sales charge
applies to purchases of $500,000 or more in such accounts and to all
purchases of the
Global
Diversified Income Fund, LargeCap S&P 500 Index Fund, and Short-Term
Income Fund shares. |
(4) |
The maximum sales charge for
all purchases made in an account that is included in a SIMPLE IRA, SEP,
SARSEP, non-qualified deferred compensation, or payroll deduction plan
established before March 1, 2002 with Principal Management Corporation as
the Funds’ transfer agent, is the sales charge that applies to purchases
of at least $100,000 but less than $250,000 as described in the sales
charge tables; the regular sales charge applies to purchases of $250,000
or more in such accounts and to all purchases of the Global Diversified
Income Fund, LargeCap S&P 500 Index Fund, and Short-Term Income Fund
shares. The reduced sales charge applies to purchases made by or on behalf
of participants to such plans who became participants on or before July
28, 2007. |
• |
redeemed within 90 days after
an account is re-registered due to a shareholder's
death; |
• |
redeemed to pay surrender
fees; |
• |
redeemed to pay retirement
plan fees; |
• |
redeemed involuntarily from
accounts with small balances; |
• |
redeemed due to the
shareholder's disability (as defined by the Internal Revenue Code)
provided the shares were purchased before the
disability; |
• |
redeemed from retirement plans
to satisfy minimum distribution rules under the Internal Revenue
Code; |
• |
redeemed from a retirement
plan to assure the plan complies with the Internal Revenue
Code; |
• |
redeemed from retirement plans
qualified under Section 401(a) of the Internal Revenue Code due to the
plan participant's death, disability, retirement, or separation from
service after attaining age 55; |
• |
redeemed from retirement plans
to satisfy excess contribution rules under the Internal Revenue Code;
or |
• |
redeemed using a systematic
withdrawal plan (up to 1% per month (measured cumulatively with respect to
non-monthly plans) of the value of the fund account at the time, and
beginning on the date, the systematic withdrawal plan begins). (The free
withdrawal privilege not used in a calendar year is not added to the free
withdrawal privileges for any following
year.) |
• |
redeemed that were purchased
pursuant to the Small Amount Force Out program (SAFO);
or |
• |
of the Money Market Fund
redeemed within 30 days of the initial purchase if the redemption proceeds
are transferred to another Principal IRA, defined as either a fixed or
variable annuity issued by Principal Life Insurance Company to fund an
IRA, a Principal Bank IRA product, or a WRAP account IRA sponsored by
Principal Securities, Inc. |
• |
redeemed at the time of forced
redemptions following the close of business on or about March 23, 2018;
or |
• |
converted to Class A shares
from Class C shares that are invested in a retirement plan account under
the custodianship of Principal Life Insurance Company following the close
of business on or about March 23, 2018. |
• |
Management Fee (all Classes) -
Through the Management Agreement with the Fund, PGI has agreed to provide
investment advisory services and corporate administrative services to the
Fund. |
• |
Distribution Fee (Classes A,
C, J, R-1, R-2, R-3, and R-4) - Each Fund has adopted a distribution
plan under Rule 12b-1 of the Investment Company Act of 1940 for its
Classes A (except the Money Market Fund), C, J, R-1, R-2, R-3, and R-4
shares. Under the plan, these classes of each Fund pay a distribution fee
based on the average daily NAV of the Fund. These fees pay distribution
and other expenses for the sale of Fund shares and for services provided
to shareholders. Because they are ongoing fees, over time, these fees may
exceed other types of sales charges. |
• |
Other Expenses (all Classes) -
A portion of expenses that are allocated to all classes of the Fund. Other
expenses include interest expense, expenses related to fund investments
and index licensing fees. Additional examples of other expenses
include: |
• |
Transfer Agent Fee (all
Classes) - Principal Shareholder Services, Inc. (“PSS”) has entered
into a Transfer Agency Agreement with the Fund under which PSS provides
transfer agent services to these classes. For Class J shares, these
services are currently provided at a rate that includes a profit; for
Classes A, C, and Institutional Class shares, these services are currently
provided at cost. The Fund does not pay for these services for Classes
R-1, R-2, R-3, R-4, R-5, and R-6 shares. |
• |
Certain Operating Expenses
(Institutional Class and Classes A, C, J, and R-6) - expenses of
registering and qualifying shares for sale, the cost of producing and
distributing reports and prospectuses to shareholders of these classes,
the cost of shareholder meetings held solely for shareholders of these
classes, and other operating expenses of the
Fund. |
• |
Service Fee (Classes R-1, R-2,
R-3, R-4, and R-5) - PGI has entered into a Service Agreement
with the Fund under which PGI is required to provide certain personal
services to shareholders (plan sponsors) and beneficial owners (plan
members), such as responding to plan sponsor and plan member inquiries.
|
• |
Administrative Services Fee
(Classes R-1, R-2, R-3, R-4, and R-5) - PGI has entered into an
Administrative Services Agreement with Principal Funds under which PGI is
required to provide shareholder and administrative services for retirement
plans and other beneficial owners of Fund
shares. |
• |
Acquired Fund Fees and
Expenses (all Classes) - fees and expenses charged by other investment
companies in which a Fund invests a portion of its
assets. |
Share
Class |
Maximum
Annualized Rate 12b-1 Fee |
A(1) |
0.25% (0.15% Government &
High Quality Bond, LargeCap S&P 500 Index and Short-Term Income
Funds) |
C |
1.00% |
J |
0.15% |
R-1 |
0.35% |
R-2 |
0.30% |
R-3 |
0.25% |
R-4 |
0.10% |
• |
Compensation to salespeople
and selected dealers, including ongoing commission
payments. |
• |
Printing of prospectuses and
statements of additional information and reports for other than existing
shareholders, and preparing and conducting sales
seminars. |
• |
when the only activity during
the quarter are: |
• |
purchases of shares from
reinvested dividends and/or capital
gains, |
• |
purchases under an Automatic
Investment Plan, |
• |
sales under a Systematic
Withdrawal Plan, |
• |
purchases or sales under an
Automatic Exchange Election, or |
• |
conversion of Class C shares
into Class A shares |
• |
used to fund certain
individual retirement or individual pension plans;
or |
• |
established under a payroll
deduction plan. |
• |
may be given by calling
us; |
• |
may be given via our website
for certain transactions (for security purposes you need a user name and
password to use any of the internet services, including viewing your
account information on-line. If you don’t have a user name or password,
you may obtain one at our website); or |
• |
may be given to your Financial
Professional (a person employed by or affiliated with broker/dealer firms)
who will in turn contact us with your
instructions. |
Signature
guarantees are required in any of the following
circumstances: |
A |
C |
J |
Inst |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 |
if you sell more than $100,000
(in the aggregate) from the Funds |
X |
X |
X |
|||||||
if you sell more than $500,000
(in the aggregate) from the Funds |
X |
X |
X |
X |
X |
X |
X | |||
if you sell more than
$10,000,000 if you have the proceeds sent electronically to a previously
authorized U.S. bank account |
X |
|||||||||
if a sales proceeds check is
payable to a party other than the account shareholder(s) |
X |
X |
X |
X |
X |
X |
X | |||
if a sales proceeds check is
payable to a party other than the account shareholder(s) or Principal
Life, Principal Bank, a retirement plan trustee or custodian that has
agreed in writing to accept a transfer of assets from the Fund or
Principal Securities, Inc. payable through Pershing |
X |
X |
X |
|||||||
to change ownership of an
account |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to add telephone transaction
services and/or wire or ACH redemption privileges to an existing account
if there is not a common owner between the bank account and mutual fund
account |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to change bank account
information designated under an existing telephone withdrawal plan if
there is not a common owner between the bank account and mutual fund
account |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to wire or ACH to a
shareholder’s U.S. bank account not previously authorized or when the
request does not include a voided check or deposit slip indicating a
common owner between the bank account and mutual fund
account |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to exchange or transfer among
accounts with different ownership |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to have a sales proceeds check
mailed to an address other than the address on the account or to the
address on the account if it has been changed within the preceding 15
days |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
Aaa: |
Obligations rated Aaa are
judged to be of the highest quality, subject to the lowest level of credit
risk. |
Aa: |
Obligations rated Aa are
judged to be of high quality and are subject to very low credit
risk. |
A: |
Obligations rated A are
considered upper-medium grade and are subject to low credit
risk. |
Baa: |
Obligations rated Baa are
subject to moderate credit risk. They are considered medium-grade and as
such may possess certain speculative
characteristics. |
Ba: |
Obligations rated Ba are
judged to be speculative and are subject to substantial credit
risk. |
B: |
Obligations rated B are
considered speculative and are subject to high credit
risk. |
Caa: |
Obligations rated Caa are
judged to be speculative of poor standing and are subject to very high
credit risk. |
Ca: |
Obligations rated Ca are
highly speculative and are likely in, or very near, default, with some
prospect of recovery of principal and
interest. |
C: |
Obligations rated C are the
lowest rated class of bonds and are typically in default, with little
prospect for recovery of principal or
interest. |
• |
Likelihood of payment -
capacity and willingness of the obligor to meet its financial commitment
on an obligation in accordance with the terms of the
obligation; |
• |
Nature of and provisions of
the financial obligation; |
• |
Protection afforded by, and
relative position of, the financial obligation in the event of bankruptcy,
reorganization, or other arrangement under the laws of bankruptcy and
other laws affecting creditor's rights. |
AAA: |
Obligations rated ‘AAA’ have
the highest rating assigned by S&P Global Ratings. The obligor’s
capacity to meet its financial commitment on the obligation is extremely
strong. |
AA: |
Obligations rated ‘AA’ differ
from the highest-rated issues only in small degree. The obligor’s capacity
to meet its financial commitment on the obligation is very
strong. |
A: |
Obligations rated ‘A’ have a
strong capacity to meet financial commitment on the obligation although
they are somewhat more susceptible to the adverse effects of changes in
circumstances and economic conditions than obligations in higher-rated
categories. |
BBB: |
Obligations rated ‘BBB’
exhibit adequate protection parameters; however, adverse economic
conditions or changing circumstances are more likely to lead to a weakened
capacity to meet financial commitment on the
obligation. |
BB, B, CCC, |
Obligations rated ‘BB’, ‘B’,
‘CCC’, ‘CC’, and ‘C’ are regarded, on balance, as having
significant |
CC, and C: |
speculative characteristics.
‘BB’ indicates the lowest degree of speculation and ‘C’ the highest degree
of speculation. While such obligations will likely have some quality and
protective characteristics, these may be outweighed by large uncertainties
or major risk exposures to adverse
conditions. |
BB: |
Obligations rated ‘BB’ are
less vulnerable to nonpayment than other speculative issues. However, it
faces major ongoing uncertainties or exposure to adverse business,
financial, or economic conditions which could lead to the obligor’s
inadequate capacity to meet its financial commitment on the
obligation. |
B: |
Obligations rated ‘B’ are more
vulnerable to nonpayment than ‘BB’ but the obligor currently has the
capacity to meet its financial commitment on the obligation. Adverse
business, financial, or economic conditions will likely impair this
capacity. |
CCC: |
Obligations rated ‘CCC’ are
currently vulnerable to nonpayment and is dependent upon favorable
business, financial, and economic conditions for the obligor to meet its
financial commitment on the |
CC: |
Obligations rated ‘CC’ are
currently highly vulnerable to nonpayment. The ‘CC’ rating is used when a
default has not yet occurred but S&P Global Ratings expects default to
be a virtual certainty, regardless of anticipated time to
default. |
C: |
The rating ‘C’ is highly
vulnerable to nonpayment, the obligation is expected to have lower
relative seniority or lower ultimate recovery compared to higher rated
obligations. |
D: |
Obligations rated ‘D’ are in
default, or in breach of an imputed promise. For non-hybrid capital
instruments, the ‘D’ rating category is used when payments on an
obligation are not made on the date due, unless S&P Global Ratings
believes that such payments will be made within five business days in the
absence of a stated grace period or within the earlier of the stated grace
period or 30 calendar days. The rating will also be used upon filing for
bankruptcy petition or the taking of similar action and where default is a
virtual certainty. If an obligation is subject to a distressed exchange
offer the rating is lowered to ‘D’. |
NR: |
Indicates that no rating has
been requested, that there is insufficient information on which to base a
rating or that S&P Global Ratings does not rate a particular type of
obligation as a matter of policy. |
A-1: |
This is the highest category.
The obligor’s capacity to meet its financial commitment on the obligation
is strong. Within this category, certain obligations are designated with a
plus sign (+). This indicates that the obligor’s capacity to meet its
financial commitment on these obligations is extremely
strong. |
A-2: |
Issues carrying this
designation are somewhat more susceptible to the adverse effects of the
changes in circumstances and economic conditions than obligations in
higher rating categories. However, the obligor’s capacity to meet its
financial commitment on the obligation is
satisfactory. |
A-3: |
Issues carrying this
designation exhibit adequate capacity to meet their financial obligations.
However, adverse economic conditions or changing circumstances are more
likely to lead to a weakened capacity of the obligor to meet it financial
commitment on the obligation. |
B: |
Issues rated ‘B’ are regarded
as vulnerable and have significant speculative characteristics. The
obligor has capacity to meet financial commitments; however, it faces
major ongoing uncertainties which could lead to obligor’s inadequate
capacity to meet its financial
obligations. |
C: |
This rating is assigned to
short-term debt obligations that are currently vulnerable to nonpayment
and is dependent upon favorable business, financial, and economic
conditions to meet its financial commitment on the
obligation. |
D: |
This rating indicates that the
issue is either in default or in breach of an imputed promise. For
non-hybrid capital instruments, the ‘D’ rating category is used when
payments on an obligation are not made on the date due, unless S&P
Global Ratings believes that such payments will be made within five
business days in the absence of a stated grace period or within the
earlier of the stated grace period or 30 calendar days. The rating will
also be used upon filing for bankruptcy petition or the taking of similar
action and where default is a virtual certainty. If an obligation is
subject to a distressed exchange offer the rating is lowered to
‘D’. |
SP-1: |
A strong capacity to pay
principal and interest. Issues that possess a very strong capacity to pay
debt service is given a "+" designation. |
SP-2: |
A satisfactory capacity to pay
principal and interest, with some vulnerability to adverse financial and
economic changes over the terms of the
notes. |
SP-3: |
A speculative capacity to pay
principal and interest. |
• |
Employer-sponsored retirement
plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans,
profit sharing and money purchase pension plans and defined benefit
plans). However, the initial sales charge waiver does not apply to SEP
IRAs, Simple IRAs or SAR-SEPs. |
• |
Shares purchased through an
Ameriprise Financial investment advisory program (if an Advisory or
similar share class for such investment advisory program is not
available). |
• |
Shares purchased by third
party investment advisors on behalf of their advisory clients through
Ameriprise Financial’s platform (if an Advisory or similar share class for
such investment advisory program is not
available). |
• |
Shares purchased through
reinvestment of capital gains distributions and dividend reinvestment when
purchasing shares of the same fund (but not any other fund within the same
fund family). |
• |
Shares exchanged from Class C
shares of the same fund in the month of or following the 10-year
anniversary of the purchase date. To the extent that this prospectus
elsewhere provides for a waiver with respect to such shares following a
shorter holding period, that waiver will apply to exchanges following such
shorter period. To the extent that this prospectus elsewhere provides for
a waiver with respect to exchanges of Class C shares for load waived
shares, that waiver will also apply to such
exchanges. |
• |
Employees and registered
representatives of Ameriprise Financial or its affiliates and their
immediate family members. |
• |
Shares purchased by or through
qualified accounts (including IRAs, Coverdell Education Savings Accounts,
401(k)s, 403(b) accounts subject to ERISA and defined benefit plans) that
are held by a covered family member, defined as an Ameriprise financial
advisor and/or the advisor’s spouse, advisor’s lineal ascendant (mother,
father, grandmother, grandfather, great grandmother, great grandfather),
advisor’s lineal descendant (son, step-son, daughter, step-daughter,
grandson, granddaughter, great grandson, great granddaughter, including
through adoption) or any spouse of a covered family member who is a lineal
descendant. |
• |
Shares purchased from the
proceeds of redemptions within the same fund family, provided (1) the
repurchase occurs within 90 days following the redemption, (2) the
redemption and purchase occur in the same account, and (3) redeemed shares
were subject to a front-end or deferred sales load (known as Rights of
Reinstatement). |
• |
The applicable
sales charge on a purchase of Class A shares is determined by taking into
account all share classes (except any money market funds and retirement
plan share classes) of Principal Funds, Inc. held by the shareholder or in
an account grouped by Edward Jones with other accounts for the purpose of
providing certain pricing considerations ("pricing groups") . This
includes all share classes held on the Edward Jones platform and/or held
on another platform. |
• |
ROA is
determined by calculating the higher of cost or market value (current
shares x NAV). |
• |
Through a LOI,
shareholders can receive the sales charge and breakpoint discounts for
purchases shareholders intend to make over a 13-month period from the date
Edward Jones receives the LOI. The LOI combines the current market value
of any existing qualifying holdings and account types with the value that
the shareholder intends to buy over a 13 month period to calculate the
front-end sales charge and any breakpoint discounts. Each purchase the
shareholder makes during that 13 month period will receive the sales
charge and breakpoint discount that applies to the total amount. Purchases
made before the LOI is received by Edward Jones are not covered under the
LOI and will not reduce the sales charge previously paid. Sales charges
will be adjusted if LOI is not met. |
• |
Associates of
Edward Jones and its affiliates and their family members who are in the
same pricing group (as determined by Edward Jones under its policies and
procedures) as the associate. This waiver will continue for the remainder
of the associate's life if the associate retires from Edward Jones in
good-standing. |
• |
Shares
purchased in an Edward Jones fee-based program.
|
• |
Shares
purchased through reinvestment of capital gains distributions and dividend
reinvestment |
• |
Shares
purchased from the proceeds of redeemed shares of the same fund family so
long as the following conditions are met: 1) the proceeds are from the
sale of shares within 60 days of the purchase, and 2) the sale and
purchase are made in the same share class and the same account or the
purchase is made in an individual retirement account with proceeds from
liquidations in a non-retirement account |
• |
Shares
exchanged into class A shares from another share class so long as the
exchange is into the same fund and was initiated at the discretion of
Edward Jones. Edward Jones will be responsible for any remaining CDSC due
to the fund company, if applicable. |
• |
Exchanges from
class C shares to class A shares of the same fund, generally, in the 84th
month following the anniversary of the purchase date or earlier at the
discretion of Edward Jones. |
• |
The death or
disability of the shareholder |
• |
Systematic
withdrawals with up to 10% per year of the account
value |
• |
Return of
excess contributions from an Individual Retirement Account
(IRA) |
• |
Shares sold as
part of a required minimum distribution for IRA and retirement accounts if
the redemption is taken in the year the shareholder reaches age 70 ½ or
older. |
• |
Shares sold to
pay Edward Jones fees or costs in such cases where the transaction is
initiated by Edward Jones |
• |
Shares
exchanged in an Edward Jones fee-based
program |
• |
Shares
acquired through NAV reinstatement |
• |
$250 initial
purchase minimum |
• |
$50 subsequent
purchase minimum |
• |
Edward Jones
has the right to redeem at its discretion fund holdings with a balance of
$250 or less. The following are examples of accounts that are not included
in this policy: |
• |
A fee-based
account held on an Edward Jones platform |
• |
A 529 account
held on an Edward Jones platform |
• |
An account
with an active systematic investment plan or letter of intent
(LOI) |
• |
At any time it
deems necessary, Edward Jones has the authority to change a share class to
Class A shares of the same fund at NAV. |
• |
Shares purchased through
reinvestment of capital gains distributions and dividend reinvestment when
purchasing shares
of the same fund (but not any other fund within the fund
family). |
• |
Shares
purchased by employees and registered representatives of Janney or its
affiliates and their family members as designated by
Janney. |
• |
Shares
purchased from the proceeds of redemptions within the same fund family,
provided (1) the repurchase occurs within ninety (90) days following the
redemption, (2) the redemption and purchase occur in the same account, and
(3) redeemed shares were subject to a front-end or deferred sales load
(i.e., right of reinstatement). |
• |
Employer-sponsored retirement
plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans,
profit sharing and money purchase pension plans and defined benefit
plans). For purposes of this provision, employer-sponsored retirement
plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh
plans. |
• |
Shares acquired through a
right of restatement. |
• |
Class C shares that are no
longer subject to a contingent deferred sales charge and are converted to
Class A shares of the same fund pursuant to Janney’s policies and
procedures. |
• |
Shares sold upon the
death or disability of the shareholder. |
• |
Shares sold as
part of a systematic withdrawal plan as described in the fund’s
Prospectus. |
• |
Shares
purchased in connection with a return of excess contributions from an IRA
account. |
• |
Shares sold as
part of a required minimum distribution for IRA and other retirement
accounts due to the shareholder reaching age 70½ as described in the
fund’s Prospectus. |
• |
Shares
sold to pay
Janney fees but only if the transaction is initiated by
Janney. |
• |
Shares acquired through a
right of reinstatement. |
• |
Shares exchanged into the same
share class of a different fund. |
• |
Breakpoints as described in the fund’s
Prospectus. |
• |
Rights of accumulation
(“ROA”), which entitle shareholders to breakpoint discounts, will be
automatically calculated based on the aggregated holding of fund family
assets held by accounts within the purchaser’s household at Janney.
Eligible fund family assets not held at Janney may be included in the ROA
calculation only if the shareholder notifies his or her financial advisor
about such assets. |
• |
Letters of intent which allow
for breakpoint discounts based on anticipated purchases within a fund
family, over a 13-month time period. Eligible fund family assets not held
at Janney Montgomery Scott may be included in the calculation of letters
of intent only if the shareholder notifies his or her financial advisor
about such assets. |
• |
Employer-sponsored retirement,
deferred compensation and employee benefit plans (including health savings
accounts) and trusts used to fund those plans, provided that the shares
are not held in a commission-based brokerage account and shares are held
for the benefit of the plan. |
• |
Shares purchased by a 529 Plan
(does not include 529 Plan units or 529-specific share classes or
equivalents). |
• |
Shares purchased through a
Merrill Lynch affiliated investment advisory
program. |
• |
Shares exchanged due to the
holdings moving from a Merrill Lynch affiliated investment advisory
program to a Merrill Lynch brokerage (non-advisory) account pursuant to
Merrill Lynch's policies relating to sales load discounts and
waivers. |
• |
Shares purchased by third
party investment advisors on behalf of their advisory clients through
Merrill Lynch’s platform. |
• |
Shares of funds purchased
through the Merrill Edge Self-Directed
platform. |
• |
Shares purchased through
reinvestment of capital gains distributions and dividend reinvestment when
purchasing shares of the same fund (but not any other fund within the fund
family). |
• |
Shares exchanged from Class C
(i.e. level-load) shares of the same fund pursuant to Merrill Lynch's
policies relating to sales load discounts and waivers.
|
• |
Employees and registered
representatives of Merrill Lynch or its affiliates and their family
members. |
• |
Directors or Trustees of the
Fund, and employees of the Fund’s investment adviser or any of its
affiliates, as described in this
prospectus. |
• |
Eligible shares purchased from
the proceeds of redemptions within the same fund family, provided (1) the
repurchase occurs within 90 days following the redemption, (2) the
redemption and purchase occur in the same account, and (3) redeemed shares
were subject to a front-end or deferred sales load (known as Rights of
Reinstatement). Automated transactions (i.e., systematic purchases and
withdrawals) and purchases made after shares are automatically sold to pay
Merrill Lynch's account maintenance fees are not eligible for
reinstatement. |
• |
Death or disability of the
shareholder |
• |
Shares sold as part of a
systematic withdrawal plan as described in the Fund’s
prospectus |
• |
Return of excess contributions
from an IRA Account |
• |
Shares sold as part of a
required minimum distribution for IRA and retirement accounts pursuant to
the Internal Revenue Code |
• |
Shares sold to pay Merrill
Lynch fees but only if the transaction is initiated by Merrill
Lynch |
• |
Shares acquired through a
right of reinstatement |
• |
Shares held in retirement
brokerage accounts, that are exchanged for a lower cost share class due to
transfer to a fee based account or platform (applicable to A and C shares
only) |
• |
Shares received through an
exchange due to the holdings moving from a Merrill Lynch brokerage
(non-advisory) account pursuant to Merrill Lynch's policies relating to
sales load discounts and waivers |
• |
Breakpoints as described in
this prospectus. |
• |
Rights of Accumulation (ROA)
which entitle shareholders to breakpoint discounts as described in the
Fund's prospectus will be automatically calculated based on the aggregated
holding of Class A shares and Class C shares of fund family assets held by
accounts (including 529 program holdings, where applicable) within the
purchaser’s household at Merrill Lynch. Eligible fund family assets not
held at Merrill Lynch may be included in the ROA calculation only if the
shareholder notifies his or her financial advisor about such
assets. |
• |
Letters of Intent (LOI) which
allow for breakpoint discounts based on anticipated purchases of Class A
shares and Class C shares within a fund family, through Merrill Lynch,
over a 13-month period of time. |
• |
Employer-sponsored retirement
plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans,
profit sharing and money purchase pension plans and defined benefit
plans). For purposes of this provision, employer-sponsored retirement
plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh
plans. |
• |
Morgan Stanley employee and
employee-related accounts according to Morgan Stanley’s account linking
rules. |
• |
Shares purchased through
reinvestment of dividends and capital gains distributions when purchasing
shares of the same fund. |
• |
Shares purchased through a
Morgan Stanley self-directed brokerage
account. |
• |
Class C (i.e., level-load)
shares that are no longer subject to a contingent deferred sales charge
and are converted to Class A shares of the same fund pursuant to Morgan
Stanley Wealth Management’s share class conversion
program. |
• |
Shares purchased from the
proceeds of redemptions within the same fund family, provided (i) the
repurchase
occurs within 90
days following the redemption, (ii) the redemption and purchase occur in
the same account,
and (iii)
redeemed shares were subject to a front-end or deferred sales
charge. |
• |
Shares purchased in an
investment advisory program. |
• |
Shares purchased within the
same fund family through a systematic reinvestment of capital gains and
dividend distributions. |
• |
Employees and registered
representatives of Raymond James or its affiliates and their family
members as designated by Raymond James. |
• |
Shares purchased from the
proceeds of redemptions within the same fund family, provided (1) the
repurchase occurs within 90 days following the redemption, (2) the
redemption and purchase occur in the same account, and (3) redeemed shares
were subject to a front-end or deferred sales load (known as Rights of
Reinstatement). |
• |
A shareholder in the Fund’s
Class C shares will have their shares converted at net asset value to
Class A shares (or the appropriate share class) of the Fund if the shares
are no longer subject to a CDSC and the conversion is in line with the
policies and procedures of Raymond James. |
• |
Death or disability of the
shareholder. |
• |
Shares sold as part of a
systematic withdrawal plan as described in the fund’s
prospectus. |
• |
Return of excess contributions
from an IRA Account. |
• |
Shares sold as part of a
required minimum distribution for IRA and retirement accounts due to the
shareholder reaching the qualified age based on applicable IRS regulations
as described in the fund’s prospectus. |
• |
Shares sold to pay Raymond
James fees but only if the transaction is initiated by Raymond
James. |
• |
Shares acquired through a
right of reinstatement. |
• |
Breakpoints as described in
this prospectus. |
• |
Rights of accumulation which
entitle shareholders to breakpoint discounts will be automatically
calculated based on the aggregated holding of fund family assets held by
accounts within the purchaser’s household at Raymond James. Eligible fund
family assets not held at Raymond James may be included in the calculation
of rights of accumulation only if the shareholder notifies his or her
financial advisor about such assets. |
• |
Letters of intent which allow
for breakpoint discounts based on anticipated purchases within a fund
family, over a 13-month time period. Eligible fund family assets not held
at Raymond James may be included in the calculation of letters of intent
only if the shareholder notifies his or her financial advisor about such
assets. |