ACCOUNTS OF
THE FUND | |
Equity
Accounts |
Asset
Allocation Accounts |
Diversified International
Account (Classes 1 & 2) |
Balanced Account (Class
1) |
Equity Income Account (Classes
1 & 2) |
Diversified Balanced Account
(Classes 1 & 2) |
International Emerging Markets
Account (Classes 1 & 2) |
Diversified Balanced Managed
Volatility Account (Class 2) |
LargeCap Growth Account
(Classes 1 & 2) |
Diversified Balanced Volatility
Control Account (Class 2) |
LargeCap Growth Account I
(Classes 1 & 2) |
Diversified Growth Account
(Class 2) |
LargeCap S&P 500 Index
Account (Classes 1 & 2) |
Diversified Growth Managed
Volatility Account (Class 2) |
LargeCap S&P 500 Managed
Volatility Index Account (Class 1) |
Diversified Growth Volatility
Control Account (Class 2) |
LargeCap Value Account (Classes
1 & 2) |
Diversified Income Account
(Class 2) |
MidCap Account (Classes 1 &
2) |
Principal LifeTime
Accounts |
Multi-Asset Income Account
(Classes 1 & 2) |
Strategic Income Account (Class
1) |
Principal Capital Appreciation
Account (Classes 1 & 2) |
2010 Account (Class
1) |
Real Estate Securities Account
(Classes 1 & 2) |
2020 Account (Classes 1 &
2) |
SmallCap Account (Classes 1
& 2) |
2030 Account (Classes 1 &
2) |
2040 Account (Classes 1 &
2) | |
Fixed-Income
Accounts |
2050 Account (Classes 1 &
2) |
Bond Market Index Account
(Class 1) |
2060 Account (Class
1) |
Core Plus Bond Account (Classes
1 & 2) |
Strategic Asset Management
Portfolios |
Government & High Quality
Bond Account (Classes 1 & 2) |
SAM Balanced Portfolio (Classes
1 & 2) |
Income Account (Classes 1 &
2) |
SAM Conservative Balanced
Portfolio (Classes 1 & 2) |
Short-Term Income Account
(Classes 1 & 2) |
SAM Conservative Growth
Portfolio (Classes 1 & 2) |
SAM Flexible Income Portfolio
(Classes 1 & 2) | |
SAM Strategic Growth Portfolio
(Classes 1 & 2) |
ACCOUNT
SUMMARIES |
|
Balanced
Account |
|
Bond Market Index
Account |
|
Core Plus Bond
Account |
|
Diversified Balanced
Account |
|
Diversified Balanced Managed
Volatility Account |
|
Diversified Balanced Volatility
Control Account |
|
Diversified Growth
Account |
|
Diversified Growth Managed
Volatility Account |
|
Diversified Growth Volatility
Control Account |
|
Diversified Income
Account |
|
Diversified International
Account |
|
Equity Income
Account |
|
Government & High Quality
Bond Account |
|
Income Account |
|
International Emerging Markets
Account |
|
LargeCap Growth
Account |
|
LargeCap Growth Account
I |
|
LargeCap S&P 500 Index
Account |
|
LargeCap S&P 500 Managed
Volatility Index Account |
|
LargeCap Value
Account |
|
MidCap Account |
|
Multi-Asset Income
Account |
|
Principal Capital Appreciation
Account |
|
Principal LifeTime Strategic
Income Account |
|
Principal LifeTime 2010
Account |
|
Principal LifeTime 2020
Account |
|
Principal LifeTime 2030
Account |
|
Principal LifeTime 2040
Account |
|
Principal LifeTime 2050
Account |
|
Principal LifeTime 2060
Account |
|
Real Estate Securities
Account |
|
SAM (Strategic Asset
Management) Balanced Portfolio |
|
SAM (Strategic Asset
Management) Conservative Balanced Portfolio |
|
SAM (Strategic Asset
Management) Conservative Growth Portfolio |
|
SAM (Strategic Asset
Management) Flexible Income Portfolio |
|
SAM (Strategic Asset
Management) Strategic Growth Portfolio |
|
Short-Term Income
Account |
|
SmallCap Account
|
|
ADDITIONAL INFORMATION ABOUT
INVESTMENT STRATEGIES AND RISKS |
|
PORTFOLIO HOLDINGS
INFORMATION |
|
MANAGEMENT OF THE
FUND |
|
PRICING OF ACCOUNT
SHARES |
|
DIVIDENDS AND
DISTRIBUTIONS |
|
TAX
CONSIDERATIONS |
|
DISTRIBUTION PLAN AND
ADDITIONAL INFORMATION REGARDING INTERMEDIARY COMPENSATION |
|
ONGOING FEES |
|
GENERAL INFORMATION ABOUT AN
ACCOUNT |
|
Frequent Trading and Market
Timing (Abusive Trading Practices) |
|
Eligible
Purchasers |
|
Purchase of Account
Shares |
|
Sale of Account
Shares |
|
Restricted
Transfers |
|
Financial
Statements |
|
FINANCIAL
HIGHLIGHTS |
|
APPENDIX A – INDEX
ABBREVIATIONS |
|
APPENDIX B – DESCRIPTION OF
BOND RATINGS |
|
ADDITIONAL
INFORMATION |
Objective: |
The Account seeks to generate
a total return consisting of current income and capital
appreciation. |
Class
1 | |
Management Fees |
0.60% |
Other Expenses |
0.07% |
Total Annual
Account Operating Expenses |
0.67% |
1
year |
3
years |
5
years |
10
years | |
Balanced
Account – Class 1 |
$68 |
$214 |
$373 |
$835 |
54.39% in securities rated
Aaa |
4.79% in securities rated
Ba |
0.00% in securities rated
C |
3.90% in securities rated
Aa |
2.66% in securities rated
B |
0.00% in securities rated
D |
13.49% in securities rated
A |
1.04% in securities rated
Caa |
0.76% in securities not
rated |
18.93% in securities rated
Baa |
0.04% in securities rated
Ca |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘09 |
12.74 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(17.87 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Balanced
Account - Class 1 |
5.68% |
9.30% |
4.98% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
11.96% |
14.66% |
6.95% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
4.34% |
60% S&P 500 Index/40%
Bloomberg Barclays Aggregate Bond Index (reflects no deduction for fees,
expenses, or taxes) |
8.31% |
9.69% |
6.21% |
• |
Matthew Annenberg (since
2014), Managing Director, Asset
Allocation |
• |
Scott Smith (since 2014),
Portfolio Manager |
Class
1 | |
Management Fees |
0.25% |
Other Expenses |
—% |
Acquired Fund Fees and
Expenses |
0.01% |
Total Annual
Account Operating Expenses |
0.26% |
1
year |
3
years |
5
years |
10
years | |
Bond Market
Index Account - Class 1 |
$27 |
$84 |
$146 |
$331 |
Highest
return for a quarter during the period of the bar chart
above: |
Q1
‘16 |
2.94 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
‘16 |
(3.12 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2016 |
1
Year |
Life of
Account |
Bond Market
Index Account - Class 1 |
2.29% |
1.63% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.00% |
• |
Paul Benson (since 2015),
Managing Director, Head of Fixed Income Portfolio
Management |
• |
Gregg Lee (since 2012), Vice
President, Senior Portfolio Manager, Fixed Income
|
• |
Nancy G. Rogers (since 2015),
Director, Senior Portfolio Manager, Fixed
Income |
• |
Stephanie Shu (since 2015),
Director, Senior Portfolio Manager, Fixed
Income |
Objective: |
The Account seeks to provide
current income and, as a secondary objective, capital
appreciation. |
Class
1 |
Class
2 | |
Management Fees |
0.45% |
0.45% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.46% |
0.71% |
1
year |
3
years |
5
years |
10
years | |
Core Plus
Bond Account - Class 1 |
$47 |
$148 |
$258 |
$579 |
Core Plus
Bond Account - Class 2 |
73 |
227 |
395 |
883 |
51.95% in securities rated
Aaa |
6.44% in securities rated
Ba |
0.02% in securities rated
C |
3.53% in securities rated
Aa |
3.68% in securities rated
B |
0.01% in securities rated
D |
12.60% in securities rated
A |
1.02% in securities rated
Caa |
0.65% in securities not
rated |
20.07% in securities rated
Baa |
0.03% in securities rated
Ca |
• |
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. Futures
and 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 future or swap; possible lack of a liquid secondary
market for a future or swap and the resulting inability to close a future
or 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
‘09 |
9.32 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(8.24 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Core Plus
Bond Account - Class 1 |
4.09% |
3.05% |
3.72% |
Core Plus
Bond Account - Class 2 |
3.82% |
2.79% |
3.45% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
4.34% |
• |
William C. Armstrong (since
2000), Portfolio Manager |
• |
Tina Paris (since 2015),
Portfolio Manager |
• |
Timothy R. Warrick (since
2000), Portfolio Manager |
Objective: |
The Account seeks to provide
as high a level of total return (consisting of reinvested income and
capital appreciation) as is consistent with reasonable
risk. |
Class
1 |
Class
2 | ||
Management Fees |
0.05% |
0.05% | |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% | |
Other Expenses(1) |
—% |
—% | |
Acquired Fund Fees and
Expenses(1) |
0.25% |
0.25% | |
Total Annual
Account Operating Expenses |
0.30% |
0.55% | |
(1) |
Based on estimated
amounts for the current fiscal year (Class 1). |
1
year |
3
years |
5
years |
10
years | |
Diversified
Balanced Account - Class 1 |
$31 |
$97 |
$169 |
$381 |
Diversified
Balanced Account - Class 2 |
56 |
176 |
307 |
689 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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 |
6.79 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘11 |
(6.34 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
Life of
Account |
Diversified
Balanced Account - Class 1 |
6.90% |
7.34% |
7.20% |
Diversified
Balanced Account - Class 2 |
6.90% |
7.34% |
7.20% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
3.60% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
11.96% |
14.66% |
12.66% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
6.53% |
3.88% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
20.74% |
15.33% |
14.02% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
26.56% |
16.62% |
15.32% |
Diversified Balanced Custom
Index (reflects no deduction for fees, expenses, or taxes) |
7.52% |
8.03% |
7.88% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Objective: |
The Account seeks to provide
as high a level of total return (consisting of reinvested income and
capital appreciation) as is consistent with reasonable risk, with an
emphasis on managing volatility. |
Class
2 | |
Management Fees |
0.05% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
Other Expenses |
0.01% |
Acquired Fund Fees and Expenses
|
0.33% |
Total Annual Account Operating
Expenses |
0.64% |
Expense Reimbursement
(1) |
—% |
Total Annual Account Operating
Expenses after Expense Reimbursement |
0.64% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Account’s expenses by paying, if necessary, expenses
normally payable by the Account, (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 0.31% for Class 2 shares. It is expected that the expense limit
will continue through the period ending April 30, 2018; however, Principal
Variable Contracts Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Diversified
Balanced Managed Volatility Account - Class 2 |
$65 |
$205 |
$357 |
$798 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘14 |
2.93 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘15 |
(3.03 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2016 |
1
Year |
Life of
Account |
Diversified
Balanced Managed Volatility Account - Class 2 |
6.42% |
4.75% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.56% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
11.96% |
10.28% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
(0.82)% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
20.74% |
10.05% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
26.56% |
10.98% |
Diversified Balanced Managed
Volatility Custom Index (reflects no deduction for fees, expenses, or
taxes) |
7.52% |
4.74% |
• |
James W. Fennessey (since
2013), Portfolio Manager |
• |
Randy L. Welch (since 2013),
Portfolio Manager |
Objective: |
The Account seeks to provide
as high a level of total return (consisting of reinvested income and
capital appreciation) as is consistent with reasonable risk, while seeking
to control volatility. |
Class
2 | |
Management Fees |
0.12% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
Other Expenses (1) |
0.02% |
Acquired Fund Fees and Expenses
(1) |
0.25% |
Total Annual
Account Operating Expenses |
0.64% |
Expense Reimbursement
(2) |
—% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.64% |
(1)
Based on
estimated expenses for the current fiscal year. | |
(2)
Principal Global
Investors, LLC ("PGI"), the investment advisor, has contractually agreed
to limit the Account's expenses by paying, if necessary, expenses normally
payable by the Account, (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 0.39%
for Class 2 shares. It is expected that the expense limit will continue
through the period ending April 30, 2018; however, Principal Variable
Contracts Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years | |
Diversified
Balanced Volatility Control Account - Class 2 |
$65 |
$205 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
James W. Fennessey (since
2017), Portfolio Manager |
• |
Thomas L. Kruchten (since
2017), Portfolio Manager |
• |
Mark R. Nebelung (since 2017),
Portfolio Manager |
• |
Jeffrey A. Schwarte (since
2017), Portfolio Manager |
• |
Randy L. Welch (since 2017),
Portfolio Manager |
Objective: |
The Account seeks to provide
long-term capital appreciation. |
Class
2 | |
Management Fees |
0.05% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
Other Expenses |
—% |
Acquired Fund Fees and
Expenses |
0.26% |
Total Annual
Account Operating Expenses |
0.56% |
1
year |
3
years |
5
years |
10
years | |
Diversified
Growth Account - Class 2 |
$57 |
$179 |
$313 |
$701 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small- and
medium-sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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 |
8.57 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘11 |
(9.31 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
Life of
Account |
Diversified
Growth Account - Class 2 |
8.14% |
8.99% |
8.38% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
11.96% |
14.66% |
12.66% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
3.60% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
6.53% |
3.88% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
20.74% |
15.33% |
14.02% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
26.56% |
16.62% |
15.32% |
Diversified Growth Custom Index
(reflects no deduction for fees, expenses, or taxes) |
8.81% |
9.68% |
9.01% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Objective: |
The Account seeks to provide
long-term capital appreciation, with an emphasis on managing
volatility. |
Class
2 | |
Management Fees |
0.05% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
Other Expenses |
—% |
Acquired Fund Fees and
Expenses |
0.35% |
Total Annual
Account Operating Expenses |
0.65% |
Expense Reimbursement
(1) |
—% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.65% |
(1) Principal Global
Investors, LLC ("PGI"), the investment advisor, has contractually agreed
to limit the Account’s expenses by paying, if necessary, expenses normally
payable by the Account, (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 0.31%
for Class 2 shares. It is expected that the expense limit will continue
through the period ending April 30, 2018; however, Principal Variable
Contracts Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit prior to the end of the period.
|
1
year |
3
years |
5
years |
10
years | |
Diversified
Growth Managed Volatility Account - Class 2 |
$66 |
$208 |
$362 |
$810 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘15 |
3.35 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘15 |
(4.23 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2016 |
1
Year |
Life of
Account |
Diversified
Growth Managed Volatility Account - Class 2 |
7.56% |
5.46% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
11.96% |
10.28% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.56% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
(0.82)% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
20.74% |
10.05% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
26.56% |
10.98% |
Diversified Growth Managed
Volatility Custom Index (reflects no deduction for fees, expenses, or
taxes) |
8.81% |
5.46% |
• |
James W. Fennessey (since
2013), Portfolio Manager |
• |
Randy L. Welch (since 2013),
Portfolio Manager |
Objective: |
The Account seeks to provide
long-term capital appreciation, while seeking to control
volatility. |
Class
2 | |
Management Fees |
0.12% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
Other Expenses (1) |
0.01% |
Acquired Fund Fees and Expenses
(1) |
0.25% |
Total Annual
Account Operating Expenses |
0.63% |
Expense Reimbursement
(2) |
—% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.63% |
(1)
Based on
estimated expenses for the current fiscal year. | |
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Account's expenses by paying, if necessary, expenses
normally payable by the Account, (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 0.39% for Class 2 shares. It is expected that the expense limit
will continue through the period ending April 30, 2018; however, Principal
Variable Contracts Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years | |
Diversified
Growth Volatility Control Account - Class 2 |
$64 |
$202 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
James W. Fennessey (since
2017), Portfolio Manager |
• |
Thomas L. Kruchten (since
2017), Portfolio Manager |
• |
Mark R. Nebelung (since 2017),
Portfolio Manager |
• |
Jeffrey A. Schwarte (since
2017), Portfolio Manager |
• |
Randy L. Welch (since 2017),
Portfolio Manager |
Objective:
|
The Account seeks to provide a
high level of total return (consisting of reinvestment of income with some
capital appreciation). |
Class
2 | |
Management Fees |
0.05% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
Other Expenses |
—% |
Acquired Fund Fees and Expenses
|
0.25% |
Total Annual
Account Operating Expenses |
0.55% |
1
year |
3
years |
5
years |
10
years | |
Diversified
Income Account - Class 2 |
$56 |
$176 |
$307 |
$689 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘13 |
3.23 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘15 |
(1.85 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2016 |
1
Year |
Life of
Account |
Diversified
Income Account - Class 2 |
5.56% |
5.62% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.00% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
11.96% |
14.32% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
6.86% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
20.74% |
14.62% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
26.56% |
16.52% |
Diversified Income Custom Index
(reflects no deduction for fees, expenses, or taxes) |
6.22% |
6.11% |
• |
James W. Fennessey (since
2012), Portfolio Manager |
• |
Randy L. Welch (since 2012),
Portfolio Manager |
Objective: |
The
Account seeks
long-term growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
0.85% |
0.85% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.06% |
0.06% |
Total Annual
Account Operating Expenses |
0.91% |
1.16% |
1
year |
3
years |
5
years |
10
years | |
Diversified
International Account - Class 1 |
$93 |
$290 |
$504 |
$1,120 |
Diversified
International Account - Class 2 |
118 |
368 |
638 |
1,409 |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
21.14 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘08 |
(24.01 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Diversified
International Account - Class 1 |
0.36% |
6.30% |
0.82% |
Diversified
International Account - Class 2 |
0.11% |
6.03% |
0.55% |
MSCI ACWI Ex-U.S. Index
(reflects no deduction for fees, expenses, or taxes) |
4.50% |
5.00% |
0.96% |
• |
Paul H. Blankenhagen (since
2003), Portfolio Manager |
• |
Juliet Cohn (since 2004),
Portfolio Manager |
Objective: |
The Account seeks to provide
current income and long-term growth of income and
capital. |
Class
1 |
Class
2 | |
Management Fees |
0.49% |
0.49% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.50% |
0.75% |
1
year |
3
years |
5
years |
10
years | |
Equity
Income Account - Class 1 |
$51 |
$160 |
$280 |
$628 |
Equity
Income Account - Class 2 |
77 |
240 |
417 |
930 |
• |
Medium
Market Capitalization Companies Risk. Investments in medium-sized
companies may involve greater risk and price volatility than investments
in larger, more mature companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘09 |
13.88 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(19.89 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Equity
Income Account - Class 1 |
15.72% |
12.53% |
6.31% |
Equity
Income Account - Class 2 |
15.43% |
12.24% |
6.05% |
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
17.34% |
14.80% |
5.72% |
• |
Daniel R. Coleman (since
2010), Head of Equities, Portfolio
Manager |
• |
David W. Simpson (since 2008),
Portfolio Manager |
• |
Nedret Vidinli (since 2017),
Associate Portfolio Manager |
Objective: |
The Account seeks to provide a
high level of current income consistent with safety and
liquidity. |
Class
1 |
Class
2 | |
Management Fees |
0.50% |
0.50% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.51% |
0.76% |
1
year |
3
years |
5
years |
10
years | |
Government &
High Quality Bond Account - Class 1 |
$52 |
$164 |
$285 |
$640 |
Government &
High Quality Bond Account - Class 2 |
78 |
243 |
422 |
942 |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
‘10 |
3.28 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
‘16 |
(1.96 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Government
& High Quality Bond Account - Class 1 |
1.80% |
2.09% |
4.00% |
Government
& High Quality Bond Account - Class 2 |
1.54% |
1.85% |
3.74% |
Bloomberg Barclays MBS Fixed
Rate Index (reflects no deduction for fees, expenses, or
taxes) |
1.67% |
2.07% |
4.31% |
• |
John R. Friedl (since 2010),
Portfolio Manager |
• |
Ryan P. McCann (since 2010),
Portfolio Manager |
• |
Scott J. Peterson (since
2010), Portfolio Manager |
• |
Greg L. Tornga (since 2011),
Head of Fixed Income and Portfolio
Manager |
Objective: |
The Account seeks to provide a
high level of current income consistent with preservation of
capital. |
Class
1 |
Class
2 | |
Management Fees |
0.50% |
0.50% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.51% |
0.76% |
1
year |
3
years |
5
years |
10
years | |
Income
Account - Class 1 |
$52 |
$164 |
$285 |
$640 |
Income
Account - Class 2 |
78 |
243 |
422 |
942 |
38.90% in securities rated
Aaa |
3.58% in securities rated
Ba |
0.01% in securities rated
C |
3.02% in securities rated
Aa |
3.84% in securities rated
B |
0.00% in securities rated
D |
18.19% in securities rated
A |
1.90% in securities rated
Caa |
1.15% in securities not
rated |
29.26% in securities rated
Baa |
0.15% in securities rated
Ca |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
‘09 |
7.98 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘08 |
(4.21 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Income
Account - Class 1 |
5.72% |
4.04% |
5.46% |
Income
Account - Class 2 |
5.52% |
3.78% |
5.22% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
4.34% |
• |
John R. Friedl (since 2005),
Portfolio Manager |
• |
Ryan P. McCann (since 2010),
Portfolio Manager |
• |
Scott J. Peterson (since
2010), Portfolio Manager |
• |
Greg L. Tornga (since 2011),
Head of Fixed Income and Portfolio
Manager |
Objective: |
The Account seeks long-term
growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
1.25% |
1.25% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.18% |
0.18% |
Total Annual
Account Operating Expenses |
1.43% |
1.68% |
Expense
Reimbursement(1) |
(0.08)% |
(0.08)% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
1.35% |
1.60% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Account’s expenses by paying, if necessary, expenses
normally payable by the Account, (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 1.35% for Class 1 and 1.60% for Class 2 shares. It is expected
that the expense limits will continue through the period ending April 30,
2018; however, Principal Variable Contracts Funds, Inc. and PGI, the
parties to the agreement, may mutually agree to terminate the expense
limits prior to the end of the period.
|
1
year |
3
years |
5
years |
10
years | |
International
Emerging Markets Account - Class 1 |
$137 |
$445 |
$774 |
$1,706 |
International
Emerging Markets Account - Class 2 |
163 |
522 |
905 |
1,980 |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
29.44 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘08 |
(29.34 |
)% |
Average
Annual Total Returns |
||||||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
|||
International
Emerging Markets Account - Class 1 |
9.40% |
(1) |
0.81% |
(1) |
0.94% |
(1) |
International
Emerging Markets Account - Class 2 |
9.13% |
(1) |
0.56% |
(1) |
0.71% |
(1) |
MSCI Emerging Markets NR Index
(reflects no deduction for fees, expenses, or taxes) |
11.19% |
1.28% |
1.84% |
|||
(1) During 2016, the
Account experienced a significant one-time gain of approximately $0.07 per
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. |
• |
Mihail Dobrinov (since 2007),
Portfolio Manager |
• |
Alan Wang (since 2014),
Portfolio Manager |
• |
Mohammed Zaidi (since 2012),
Portfolio Manager |
Objective: |
The Account seeks long-term
growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
0.68% |
0.68% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.69% |
0.94% |
1
year |
3
years |
5
years |
10
years | |
LargeCap
Growth Account - Class 1 |
$70 |
$221 |
$384 |
$859 |
LargeCap
Growth Account - Class 2 |
96 |
300 |
520 |
1,155 |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 |
17.54 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(25.99 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
LargeCap
Growth Account - Class 1 |
(5.13)% |
11.61% |
5.73% |
LargeCap
Growth Account - Class 2 |
(5.38)% |
11.34% |
5.47% |
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
7.08% |
14.50% |
8.33% |
• |
Thomas J. Bisighini (since
2009), Managing Director/Co-Portfolio
Manager |
• |
Anthony Rizza (since 2005),
Senior Managing Director/Portfolio Manager
|
Objective: |
The Account seeks long-term
growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
0.76% |
0.76% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.02% |
0.02% |
Total Annual
Account Operating Expenses |
0.78% |
1.03% |
Fee Waiver (1) |
(0.02)% |
(0.02)% |
Total Annual
Account Operating Expenses after Fee Waiver |
0.76% |
1.01% |
(1)
Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Account's Management Fees through the period ending
April 30, 2018. The fee waiver will reduce the Account'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 Variable Contracts 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 | |
LargeCap
Growth Account I - Class 1 |
$78 |
$247 |
$431 |
$964 |
LargeCap
Growth Account I - Class 2 |
103 |
326 |
567 |
1,258 |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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: |
Q2
‘09 |
19.90 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(22.69 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
LargeCap
Growth Account I - Class 1 |
1.26% |
13.43% |
8.22% |
LargeCap
Growth Account I - Class 2 |
1.07% |
13.17% |
7.96% |
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
7.08% |
14.50% |
8.33% |
• |
James W. Fennessey (since
2009), Portfolio Manager |
• |
Randy L. Welch (since 2009),
Portfolio Manager |
Objective: |
The Account seeks long-term
growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
0.25% |
0.25% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
—% |
—% |
Total Annual
Account Operating Expenses |
0.25% |
0.50% |
1
year |
3
years |
5
years |
10
years | |
LargeCap
S&P 500 Index Account - Class 1 |
$26 |
$80 |
$141 |
$318 |
LargeCap
S&P 500 Index Account - Class 2 |
51 |
160 |
280 |
628 |
Note: |
“Standard & Poor's 500"
and "S&P 500®" are trademarks of The
McGraw-Hill Companies, Inc. and have been licensed by PGI. The Account 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 Account. |
• |
Futures. Futures contracts 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
futures contract; possible lack of a liquid secondary market for a futures
contract and the resulting inability to close a futures contract 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. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
15.69 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(22.01 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
LargeCap
S&P 500 Index Account - Class 1 |
11.59% |
14.29% |
6.63% |
LargeCap
S&P 500 Index Account - Class 2 |
11.30% |
14.01% |
6.38% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
11.96% |
14.66% |
6.95% |
• |
Thomas L. Kruchten (since
2011), Research Analyst and Portfolio
Manager |
• |
Jeffrey A. Schwarte (since
2016), Portfolio Manager |
Objective: |
The Account seeks long-term
growth of capital, with an emphasis on managing
volatility. |
Class
1 | |
Management Fees |
0.45% |
Other Expenses |
0.01% |
Acquired Fund Fees and
Expenses |
0.01% |
Total Annual
Account Operating Expenses |
0.47% |
1
year |
3
years |
5
years |
10
years | |
LargeCap
S&P 500 Managed Volatility Index Account - Class 1 |
$48 |
$151 |
$263 |
$591 |
Note: |
“Standard & Poor's 500"
and "S&P 500®" are trademarks of The
McGraw-Hill Companies, Inc. and have been licensed by PGI. The Account 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 Account. |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘15 |
6.62 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘15 |
(6.02 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2016 |
1
Year |
Life of
Account |
LargeCap
S&P 500 Managed Volatility Index Account - Class 1 |
10.33% |
8.73% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
11.96% |
10.28% |
• |
Thomas L. Kruchten (since
2013), Research Analyst and Portfolio
Manager |
• |
Jeffrey A. Schwarte (since
2016), Portfolio Manager |
• |
L. Phillip Jacoby, IV (since
2013), Chief Investment Officer and Back-up Portfolio
Manager |
• |
Manu Krishnan (since 2013),
Vice President and Back-up Portfolio
Manager |
• |
Kevin Nugent (since 2013),
Vice President and Primary Portfolio
Manager |
Objective: |
The Account seeks long-term
growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
0.60% |
0.60% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.61% |
0.86% |
1
year |
3
years |
5
years |
10
years | |
LargeCap
Value Account - Class 1 |
$62 |
$195 |
$340 |
$762 |
LargeCap
Value Account - Class 2 |
88 |
274 |
477 |
1,061 |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘09 |
15.93 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(21.55 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
LargeCap
Value Account - Class 1 |
8.17% |
13.03% |
4.84% |
LargeCap
Value Account - Class 2 |
7.89% |
12.75% |
4.58% |
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
17.34% |
14.80% |
5.72% |
• |
Joel Fortney (since 2014),
Portfolio Manager |
• |
Christopher Ibach (since
2015), Portfolio Manager |
Objective: |
The Account seeks long-term
growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
0.53% |
0.53% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.54% |
0.79% |
1
year |
3
years |
5
years |
10
years | |
MidCap
Account - Class 1 |
$55 |
$173 |
$302 |
$677 |
MidCap
Account - Class 2 |
81 |
252 |
439 |
978 |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
18.19 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(23.92 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
MidCap
Account - Class 1 |
10.37% |
15.19% |
10.18% |
MidCap
Account - Class 2 |
10.11% |
14.90% |
9.89% |
Russell Midcap Index (reflects
no deduction for fees, expenses, or taxes) |
13.80% |
14.72% |
7.86% |
• |
K. William Nolin (since 2000),
Portfolio Manager |
• |
Tom Rozycki (since 2013),
Portfolio Manager |
Objective: |
The
Account seeks
current income. |
Class
1 |
Class
2 | |
Management Fees |
0.03% |
0.03% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
6.44% |
17.65% |
Acquired Fund Fees and
Expenses |
0.81% |
0.81% |
Total Annual
Account Operating Expenses |
7.28% |
18.74% |
Expense Reimbursement
(1) |
(6.39)% |
(17.60)% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.89% |
1.14% |
(1) Principal Global
Investors, LLC ("PGI"), the investment advisor, has contractually agreed
to limit the Account’s expenses by paying, if necessary, expenses normally
payable by the Account, (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 Class 1 and 0.33% for Class 2 shares. It is expected that the expense
limits will continue through the period ending April 30, 2018; however,
Principal Variable Contracts Funds, Inc. and PGI, the parties to the
agreement, may mutually agree to terminate the expense limits prior to the
end of the period. |
1
year |
3
years |
5
years |
10
years | |
Multi-Asset
Income Account - Class 1 |
$91 |
$1,572 |
$2,987 |
$6,251 |
Multi-Asset
Income Account - Class 2 |
116 |
3,492 |
6,005 |
9,820 |
• |
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. Forward contracts, futures,
and 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 forward contract, future or swap; possible lack of a
liquid secondary market for a forward contract, future or swap and the
resulting inability to close a forward contract, future or 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. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small- and
medium-sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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 can be 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: |
Q2
‘16 |
3.44% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'16 |
(0.58)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2016 |
1
Year |
Life of
Account |
Multi-Asset
Income Account - Class 1 |
7.96% |
3.43% |
Multi-Asset
Income Account - Class 2 |
7.65% |
3.15% |
Bloomberg Barclays Global
Credit Index (reflects no deduction for fees, expenses, or
taxes) |
5.43% |
2.65% |
MSCI ACWI Value Index (reflects
no deduction for fees, expenses, or taxes) |
12.57% |
4.42% |
Bloomberg Barclays Global High
Yield Index (reflects no deduction for fees, expenses, or
taxes) |
14.27% |
6.88% |
Multi-Asset Income Blended
Index (reflects no deduction for fees, expenses, or taxes) |
10.61% |
4.66% |
• |
Matthew Annenberg (since
2015), Managing Director, Asset
Allocation |
• |
Scott W. Smith (since 2015),
Portfolio Manager, Asset Allocation |
Objective: |
The Account seeks to provide
long-term growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
0.62% |
0.62% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.63% |
0.88% |
1
year |
3
years |
5
years |
10
years | |
Principal
Capital Appreciation Account - Class 1 |
$64 |
$202 |
$351 |
$786 |
Principal
Capital Appreciation Account - Class 2 |
90 |
281 |
488 |
1,084 |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
16.33 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(22.70 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Principal
Capital Appreciation Account - Class 1 |
9.11% |
13.61% |
7.48% |
Principal
Capital Appreciation Account - Class 2 |
8.85% |
13.34% |
7.21% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
12.74% |
14.67% |
7.07% |
• |
Daniel R. Coleman (since
2010), Head of Equities, Portfolio
Manager |
• |
Theodore Jayne (since 2015),
Portfolio Manager |
Objective: |
The
Account seeks
current income, and as a secondary objective, capital
appreciation. |
Class
1 | |
Management Fees (1) |
0.00% |
Other Expenses |
0.03% |
Acquired Fund Fees and
Expenses |
0.61% |
Total Annual
Account Operating Expenses |
0.64% |
(1) Management Fees in the
table have been restated to reflect current fees. |
1
year |
3
years |
5
years |
10
years | |
Principal
LifeTime Strategic Income Account – Class 1 |
$65 |
$205 |
$357 |
$798 |
• |
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. Forward contracts, futures
and 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 forward contract, future or swap; possible lack of a
liquid secondary market for a forward contract, future or swap and the
resulting inability to close a forward contract, future or 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
10.25 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(12.55 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Principal
LifeTime Strategic Income Account - Class 1 |
4.77% |
4.58% |
2.91% |
S&P Target Date Retirement
Income Index (reflects no deduction for fees, expenses, or
taxes) |
5.01% |
4.66% |
3.89% |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager (remove effective March
2018) |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Objective: |
The Account seeks a total
return consisting of long-term growth of capital and current
income.
|
Class
1 | |
Management Fees (1) |
0.00% |
Other Expenses |
0.02% |
Acquired Fund Fees and
Expenses |
0.66% |
Total Annual
Account Operating Expenses |
0.68% |
(1) Management Fees in the
table have been restated to reflect current fees.
|
1
year |
3
years |
5
years |
10
years | |
Principal
LifeTime 2010 Account - Class 1 |
$69 |
$218 |
$379 |
$847 |
• |
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. Forward contracts, futures
and 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 forward contract, future or swap; possible lack of a
liquid secondary market for a forward contract, future or swap and the
resulting inability to close a forward contract, future or 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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 Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
14.48 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(17.06 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Principal
LifeTime 2010 Account - Class 1 |
5.25% |
6.19% |
3.42% |
S&P Target Date 2010 Index
(reflects no deduction for fees, expenses, or taxes) |
5.82% |
5.75% |
4.21% |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager (remove effective March
2018) |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Objective: |
The Account seeks a total
return consisting of long-term growth of capital and current
income. |
Class
1 |
Class
2 | |
Management Fees (1) |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Acquired Fund Fees and
Expenses |
0.70% |
0.70% |
Total Annual
Account Operating Expenses |
0.71% |
0.96% |
(1) Management Fees in the
table have been restated to reflect current fees.
|
1
year |
3
years |
5
years |
10
years | |
Principal
LifeTime 2020 Account - Class 1 |
$73 |
$227 |
$395 |
$883 |
Principal
LifeTime 2020 Account - Class 2 |
98 |
306 |
531 |
1,178 |
• |
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. Forward contracts, futures
and 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 forward contract, future or swap; possible lack of a
liquid secondary market for a forward contract, future or swap and the
resulting inability to close a forward contract, future or 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
16.15 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(18.82 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Principal
LifeTime 2020 Account - Class 1 |
5.76% |
8.03% |
3.96% |
Principal
LifeTime 2020 Account - Class 2 |
5.56% |
7.77% |
3.73% |
S&P Target Date 2020 Index
(reflects no deduction for fees, expenses, or taxes) |
7.22% |
7.66% |
4.68% |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager (remove effective March
2018) |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Objective: |
The Account seeks a total
return consisting of long-term growth of capital and current
income. |
Class
1 |
Class
2 | |
Management Fees (1) |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Acquired Fund Fees and
Expenses |
0.71% |
0.71% |
Total Annual
Account Operating Expenses |
0.72% |
0.97% |
(1) Management Fees in the
table have been restated to reflect current fees.
|
1
year |
3
years |
5
years |
10
years | |
Principal
LifeTime 2030 Account - Class 1 |
$74 |
$230 |
$401 |
$894 |
Principal
LifeTime 2030 Account - Class 2 |
99 |
309 |
536 |
1,190 |
• |
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. Forward contracts, futures
and 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 forward contract, future or swap; possible lack of a
liquid secondary market for a forward contract, future or swap and the
resulting inability to close a forward contract, future or 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
16.66 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(20.20 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Principal
LifeTime 2030 Account - Class 1 |
5.87% |
8.84% |
4.06% |
Principal
LifeTime 2030 Account - Class 2 |
5.56% |
8.56% |
3.83% |
S&P Target Date 2030 Index
(reflects no deduction for fees, expenses, or taxes) |
8.35% |
9.05% |
4.82% |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager (remove effective March
2018) |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Objective: |
The Account seeks a total
return consisting of long-term growth of capital and current
income. |
Class
1 |
Class
2 | |
Management Fees (1) |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.02% |
0.02% |
Acquired Fund Fees and
Expenses |
0.69% |
0.69% |
Total Annual
Account Operating Expenses |
0.71% |
0.96% |
(1) Management Fees in the
table have been restated to reflect current fees.
|
1
year |
3
years |
5
years |
10
years | |
Principal
LifeTime 2040 Account - Class 1 |
$73 |
$227 |
$395 |
$883 |
Principal
LifeTime 2040 Account - Class 2 |
98 |
306 |
531 |
1,178 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
17.52 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(21.31 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Principal
LifeTime 2040 Account - Class 1 |
5.45% |
9.67% |
4.26% |
Principal
LifeTime 2040 Account - Class 2 |
5.16% |
9.40% |
4.03% |
S&P Target Date 2040 Index
(reflects no deduction for fees, expenses, or taxes) |
9.23% |
10.00% |
4.92% |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager (remove effective March
2018) |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Objective: |
The Account seeks a total
return consisting of long-term growth of capital and current
income. |
Class
1 |
Class
2 | |
Management Fees (1) |
0.00% |
0.00% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.03% |
0.03% |
Acquired Fund Fees and
Expenses |
0.71% |
0.71% |
Total Annual
Account Operating Expenses |
0.74% |
0.99% |
(1) Management Fees in the
table have been restated to reflect current fees.
|
1
year |
3
years |
5
years |
10
years | |
Principal
LifeTime 2050 Account - Class 1 |
$76 |
$237 |
$411 |
$918 |
Principal
LifeTime 2050 Account - Class 2 |
101 |
315 |
547 |
1,213 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
17.92 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(22.08 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Principal
LifeTime 2050 Account - Class 1 |
5.58% |
10.03% |
4.29% |
Principal
LifeTime 2050 Account - Class 2 |
5.24% |
9.76% |
4.05% |
S&P Target Date 2050 Index
(reflects no deduction for fees, expenses, or taxes) |
9.74% |
10.60% |
4.99% |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager (remove effective March
2018) |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
Objective: |
The Account seeks a total
return consisting of long-term growth of capital and current
income. |
Class
1 | |
Management Fees (1) |
0.00% |
Other Expenses |
0.24% |
Acquired Fund Fees and
Expenses |
0.71% |
Total Annual
Account Operating Expenses |
0.95% |
Expense Reimbursement
(2) |
(0.14)% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.81% |
(1) Management Fees in the
table have been restated to reflect current fees. | |
(2) Principal
Global Investors, LLC ("PGI"), the investment advisor, has contractually
agreed to limit the Account’s expenses by paying, if necessary, expenses
normally payable by the Account, (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 0.10% for Class 1 shares. It is expected that the expense limit
will continue through the period ending April 30, 2018; however, Principal
Variable Contracts, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Principal
LifeTime 2060 Account - Class 1 |
$83 |
$289 |
$512 |
$1,154 |
• |
Futures. Futures 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 future;
possible lack of a liquid secondary market for a future and the resulting
inability to close a future 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. |
• |
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
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘16 |
4.28 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
‘15 |
(7.54 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2016 |
1
Year |
Life of
Account |
Principal
LifeTime 2060 Account - Class 1 |
5.52% |
6.97% |
S&P Target Date 2060+ Index
(reflects no deduction for fees, expenses, or taxes) |
10.08% |
7.91% |
S&P Target Date 2055 Index
(reflects no deduction for fees, expenses, or taxes) |
9.94% |
7.91% |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
• |
James W. Fennessey (since
2013), Portfolio Manager |
• |
Scott Smith (since 2017),
Associate Portfolio Manager |
• |
Jeffrey R. Tyler (since 2013),
Portfolio Manager (remove effective March
2018) |
• |
Randy L. Welch (since 2013),
Portfolio Manager |
Objective: |
The Account seeks to generate
a total return. |
Class
1 |
Class
2 | |
Management Fees |
0.88% |
0.88% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.89% |
1.14% |
1
year |
3
years |
5
years |
10
years | |
Real Estate
Securities Account - Class 1 |
$91 |
$284 |
$493 |
$1,096 |
Real Estate
Securities Account - Class 2 |
116 |
362 |
628 |
1,386 |
• |
Value Stock
Risk. 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 the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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 can be 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
‘09 |
33.51 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(34.16 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Real Estate
Securities Account - Class 1 |
5.85% |
12.31% |
5.72% |
Real Estate
Securities Account - Class 2 |
5.53% |
12.02% |
5.45% |
MSCI US REIT Index (reflects no
deduction for fees, expenses, or taxes) |
8.60% |
11.86% |
4.96% |
• |
Keith Bokota (since 2013),
Portfolio Manager |
• |
Anthony Kenkel (since 2012),
Portfolio Manager |
• |
Kelly D. Rush (since 2000),
Portfolio Manager |
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. |
Class
1 |
Class
2 | |
Management Fees |
0.23% |
0.23% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
—% |
—% |
Acquired Fund Fees and
Expenses |
0.74% |
0.74% |
Total Annual
Account Operating Expenses |
0.97% |
1.22% |
1
year |
3
years |
5
years |
10
years | |
SAM Balanced
Portfolio - Class 1 |
$99 |
$309 |
$536 |
$1,190 |
SAM Balanced
Portfolio - Class 2 |
124 |
387 |
670 |
1,477 |
• |
Generally invests between 20%
and 60% of its assets in fixed-income funds, and less than 40% in any one
fixed-income fund; such fixed-income funds generally invest in fixed
income instruments such as real estate securities, mortgage-backed
securities and other securitized products, government and
government-sponsored securities, and corporate
bonds; |
• |
Generally invests between 40%
and 80% of its assets in equity funds that invest in small, medium, and
large market capitalization domestic and foreign companies, with growth
and/or value characteristics, and less than 30% in any one equity fund;
and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund. Such specialty 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 public timber
companies. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
13.21 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(14.58 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
SAM Balanced
Portfolio - Class 1 |
6.82% |
8.47% |
5.52% |
SAM Balanced
Portfolio - Class 2 |
6.62% |
8.21% |
5.26% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
12.74% |
14.67% |
7.07% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
4.34% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
6.53% |
0.75% |
SAM Balanced Blended Index
(reflects no deduction for fees, expenses, or taxes) |
7.04% |
8.54% |
5.40% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Todd A. Jablonski (since
2010), Chief Investment Officer and Portfolio
Manager |
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. |
Class
1 |
Class
2 | |
Management Fees |
0.23% |
0.23% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
—% |
—% |
Acquired Fund Fees and
Expenses |
0.67% |
0.67% |
Total Annual
Account Operating Expenses |
0.90% |
1.15% |
1
year |
3
years |
5
years |
10
years | |
SAM
Conservative Balanced Portfolio - Class 1 |
$92 |
$287 |
$498 |
$1,108 |
SAM
Conservative Balanced Portfolio - Class 2 |
117 |
365 |
633 |
1,398 |
• |
Generally invests between 40%
and 80% of its assets in fixed-income funds, and less than 40% in any one
fixed-income fund; such fixed-income funds generally invest in fixed
income instruments such as high yield securities (or “junk” bonds), real
estate securities, mortgage-backed securities and other securitized
products, government and government-sponsored securities, and corporate
bonds; |
• |
Generally invests between 20%
and 60% of its assets in equity funds, and less than 30% in any one equity
fund; such equity funds generally invest in domestic and foreign equity
securities regardless of market capitalization (small, medium or large)
and style (growth or value); and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund; such specialty 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 public timber
companies. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small- and
medium-sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
11.00 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(10.39 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
SAM
Conservative Balanced Portfolio - Class 1 |
6.37% |
6.81% |
5.29% |
SAM
Conservative Balanced Portfolio - Class 2 |
6.08% |
6.55% |
5.03% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
4.34% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
12.74% |
14.67% |
7.07% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
6.53% |
0.75% |
SAM Conservative Balanced
Blended Index (reflects no deduction for fees, expenses, or
taxes) |
5.62% |
6.45% |
5.16% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Todd A. Jablonski (since
2010), Chief Investment Officer and Portfolio
Manager |
Objective: |
The Portfolio seeks to provide
long-term capital appreciation. |
Class
1 |
Class
2 | |
Management Fees |
0.23% |
0.23% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
—% |
—% |
Acquired Fund Fees and
Expenses |
0.77% |
0.77% |
Total Annual
Account Operating Expenses |
1.00% |
1.25% |
1
year |
3
years |
5
years |
10
years | |
SAM
Conservative Growth Portfolio – Class 1 |
$102 |
$318 |
$552 |
$1,225 |
SAM
Conservative Growth Portfolio - Class 2 |
127 |
397 |
686 |
1,511 |
• |
Generally invests between 0%
and 40% of its assets in fixed-income funds, and less than 30% in any one
fixed-income fund; such fixed-income funds generally invest in
fixed-income instruments such as government and government-sponsored
securities and corporate bonds; |
• |
Generally invests between 60%
and 100% of its assets in equity funds that invest in growth and/or value
stocks issued by small, medium, and large market capitalization domestic
and foreign companies, and less than 40% in any one such equity fund;
and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund; such specialty 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 public timber
companies. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium-sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
14.61 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(19.24 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
SAM
Conservative Growth Portfolio - Class 1 |
7.00% |
9.82% |
5.35% |
SAM
Conservative Growth Portfolio - Class 2 |
6.76% |
9.54% |
5.09% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
12.74% |
14.67% |
7.07% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
4.34% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
6.53% |
0.75% |
SAM Conservative Growth Blended
Index (reflects no deduction for fees, expenses, or taxes) |
8.42% |
10.60% |
5.52% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Todd A. Jablonski (since
2010), Chief Investment Officer and Portfolio
Manager |
Objective: |
The Portfolio seeks to provide
a high level of total return (consisting of reinvestment of income with
some capital appreciation). |
Class
1 |
Class
2 | |
Management Fees |
0.23% |
0.23% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
—% |
—% |
Acquired Fund Fees and
Expenses |
0.58% |
0.58% |
Total Annual
Account Operating Expenses |
0.81% |
1.06% |
1
year |
3
years |
5
years |
10
years | |
SAM Flexible
Income Portfolio - Class 1 |
$83 |
$259 |
$450 |
$1,002 |
SAM Flexible
Income Portfolio - Class 2 |
108 |
337 |
585 |
1,294 |
• |
Generally invests between 55%
and 95% of its assets in fixed-income funds, and less than 40% in any one
fixed-income fund; such fixed-income funds generally invest in fixed
income instruments such as high yield securities (or “junk” bonds), real
estate securities, mortgage-backed securities and other securitized
products, government and government-sponsored securities, and corporate
bonds; |
• |
Generally invests between 5%
and 45% of its assets in equity funds that invest in value equity
securities issued by domestic and foreign companies, and less than 30% in
any one such equity fund; and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund; such specialty 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 public timber
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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: |
Q2
‘09 |
10.44 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(6.95 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
SAM Flexible
Income Portfolio - Class 1 |
7.04% |
5.95% |
5.29% |
SAM Flexible
Income Portfolio - Class 2 |
6.73% |
5.68% |
5.02% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
4.34% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
12.74% |
14.67% |
7.07% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
6.53% |
0.75% |
SAM Flexible Income Blended
Index (reflects no deduction for fees, expenses, or taxes) |
4.67% |
4.97% |
4.98% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Todd A. Jablonski (since
2010), Chief Investment Officer and Portfolio
Manager |
Objective: |
The Portfolio seeks to provide
long-term capital appreciation. |
Class
1 |
Class
2 | |
Management Fees |
0.23% |
0.23% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
—% |
—% |
Acquired Fund Fees and
Expenses |
0.77% |
0.77% |
Total Annual
Account Operating Expenses |
1.00% |
1.25% |
1
year |
3
years |
5
years |
10
years | |
SAM
Strategic Growth Portfolio - Class 1 |
$102 |
$318 |
$552 |
$1,225 |
SAM
Strategic Growth Portfolio - Class 2 |
127 |
397 |
686 |
1,511 |
• |
Generally invests between 75%
and 100% of its assets in equity funds that invest in growth and/or value
stocks issued by domestic or foreign small, medium, and large market
capitalization companies, and less than 50% in any one such equity fund;
and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund; such specialty 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 public timber
companies. |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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
‘09 |
15.95 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(22.38 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
SAM
Strategic Growth Portfolio - Class 1 |
6.15% |
10.80% |
5.25% |
SAM
Strategic Growth Portfolio - Class 2 |
5.90% |
10.52% |
4.99% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
12.74% |
14.67% |
7.07% |
MSCI EAFE Index NR (reflects no
deduction for fees, expenses, or taxes) |
1.00% |
6.53% |
0.75% |
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
2.65% |
2.23% |
4.34% |
SAM Strategic Growth Blended
Index (reflects no deduction for fees, expenses, or taxes) |
9.28% |
12.04% |
5.46% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Todd A. Jablonski (since
2010), Chief Investment Officer and Portfolio
Manager |
Objective: |
The Account seeks to provide
as high a level of current income as is consistent with prudent investment
management and stability of principal. |
Class
1 |
Class
2 | |
Management Fees |
0.50% |
0.50% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.51% |
0.76% |
Expense Reimbursement
(1) |
(0.01)% |
(0.01)% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.50% |
0.75% |
(1) Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to reduce the
Account's expenses by 0.01% through the period ending April 30, 2018. It
is expected that the expense reimbursement will continue through the
period disclosed; however, Principal Variable Contracts Funds, Inc. and
PGI, the parties to the agreement, may mutually agree to terminate the
expense reimbursement prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Short-Term
Income Account - Class 1 |
$51 |
$163 |
$284 |
$640 |
Short-Term
Income Account - Class 2 |
77 |
242 |
421 |
941 |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
‘09 |
3.23 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(2.03 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
Short-Term
Income Account - Class 1 |
2.14% |
2.13% |
2.98% |
Short-Term
Income Account - Class 2 |
2.01% |
1.90% |
2.73% |
Bloomberg Barclays Credit 1-3
Year Index (reflects no deduction for fees, expenses, or
taxes) |
2.11% |
1.84% |
3.25% |
• |
John R. Friedl (since 2010),
Portfolio Manager |
• |
Ryan P. McCann (since 2010),
Portfolio Manager |
• |
Scott J. Peterson (since
2010), Portfolio Manager |
• |
Greg L. Tornga (since 2011),
Head of Fixed Income and Portfolio
Manager |
Objective: |
The Account seeks long-term
growth of capital. |
Class
1 |
Class
2 | |
Management Fees |
0.82% |
0.82% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.84% |
1.09% |
1
year |
3
years |
5
years |
10
years | |
SmallCap
Account - Class 1 |
$86 |
$268 |
$466 |
$1,037 |
SmallCap
Account - Class 2 |
111 |
347 |
601 |
1,329 |
• |
Growth
Stock Risk. If
growth companies do not increase their earnings at a rate expected by
investors, the market price of the 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. |
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and
medium sized companies may involve greater risk and price volatility than
investments in larger, more mature
companies. |
• |
Value Stock
Risk. Value
stocks may continue to be undervalued by the market for extended periods,
including the entire period during which the stock is held by the fund, or
the events that the portfolio manager believed would cause the stock price
to increase may not occur as anticipated or at all. Moreover, a stock
judged 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 |
18.26 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'08 |
(26.33 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2016 |
1
Year |
5
Years |
10
Years |
SmallCap
Account - Class 1 |
17.39% |
15.84% |
7.21% |
SmallCap
Account - Class 2 |
17.15% |
15.57% |
6.96% |
Russell 2000 Index (reflects no
deduction for fees, expenses, or taxes) |
21.31% |
14.46% |
7.07% |
• |
Phil Nordhus (since 2006),
Portfolio Manager |
• |
Brian W. Pattinson (since
2011), Portfolio Manager |
INVESTMENT
STRATEGIES AND RISKS |
BALANCED |
BOND MARKET
INDEX |
CORE PLUS
BOND |
DIVERSIFIED
BALANCED |
Bank Loans (also known as
Senior Floating Rate Interests) |
Non-Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Derivatives |
Non-Principal |
Non-Principal |
Principal |
Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Not Applicable |
Not Applicable |
Principal |
• Growth
Stock |
Principal |
Not Applicable |
Not Applicable |
Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Not Applicable |
Not Applicable |
Principal |
• Value
Stock |
Principal |
Not Applicable |
Not Applicable |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Non-Principal |
Principal |
Non-Principal |
Foreign
Securities |
Principal |
Non-Principal |
Principal |
Non-Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Hedging |
Non-Principal |
Not Applicable |
Principal |
Non-Principal |
High Yield
Securities |
Principal |
Not Applicable |
Principal |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Non-Principal(1) |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Principal |
Principal |
Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Real Estate Investment Trusts
("REITS") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Principal |
Principal |
Principal |
Redemption Risk |
Not Applicable |
Principal |
Principal |
Principal |
Royalty Trusts |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Principal |
Principal |
Principal |
Principal |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Principal |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Non-Principal |
Not
Applicable |
(1) |
An Index Account may
concentrate its investments in a particular industry only to the extent
that the relevant index is so
concentrated. |
INVESTMENT
STRATEGIES AND RISKS |
DIVERSIFIED
BALANCED MANAGED VOLATILITY |
DIVERSIFIED
BALANCED VOLATILITY CONTROL |
DIVERSIFIED
GROWTH |
DIVERSIFIED
GROWTH MANAGED VOLATILITY |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Principal |
Not Applicable |
Non-Principal |
Principal |
Derivatives |
Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
• Growth
Stock |
Principal |
Not Applicable |
Principal |
Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Principal |
Principal |
Principal |
• Value
Stock |
Principal |
Not Applicable |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Non-Principal |
Non-Principal |
Principal |
Principal |
Foreign
Securities |
Non-Principal |
Non-Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Principal |
Hedging |
Principal |
Principal |
Non-Principal |
Principal |
High Yield
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Principal |
Principal |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Real Estate Investment Trusts
("REITS") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Principal |
Principal |
Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Principal |
Principal |
Principal |
Principal |
Short Sales |
Not Applicable |
Principal |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Principal |
Principal |
Volatility
Mitigation |
Principal |
Principal |
Not Applicable |
Principal |
INVESTMENT
STRATEGIES AND RISKS |
DIVERSIFIED
GROWTH VOLATILITY CONTROL |
DIVERSIFIED
INCOME |
DIVERSIFIED
INTERNATIONAL |
EQUITY
INCOME |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Not Applicable |
Non-Principal |
Non-Principal |
Not
Applicable |
Derivatives |
Principal |
Principal |
Non-Principal |
Not
Applicable |
Emerging
Markets |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
• Growth
Stock |
Not Applicable |
Principal |
Principal |
Non-Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Principal |
Principal |
Principal |
• Value
Stock |
Not Applicable |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Foreign
Currency |
Principal |
Non-Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Non-Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Hedging |
Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
High Yield
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Real Estate
Securities |
Principal |
Principal |
Non-Principal |
Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Securitized
Products |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Short Sales |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Non-Principal |
Not
Applicable |
Volatility
Mitigation |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES AND RISKS |
GOVERNMENT
& HIGH QUALITY BOND |
INCOME |
INTERNATIONAL
EMERGING
MARKETS |
LARGECAP
GROWTH |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Non-Principal |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Non-Principal |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Derivatives |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Emerging
Markets |
Not Applicable |
Non-Principal |
Principal |
Not
Applicable |
Equity
Securities |
Not Applicable |
Non-Principal |
Principal |
Principal |
• Growth
Stock |
Not Applicable |
Non-Principal |
Principal |
Principal |
• Small and Medium
Market Capitalization Companies |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
• Value
Stock |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
Fixed-Income
Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Foreign
Currency |
Not Applicable |
Principal |
Principal |
Not
Applicable |
Foreign
Securities |
Not Applicable |
Principal |
Principal |
Non-Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
High Yield
Securities |
Non-Principal |
Principal |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Preferred
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
(REITs) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Securitized
Products |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Non-Principal |
Not Applicable
|
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES AND RISKS |
LARGECAP
GROWTH I |
LARGECAP
S&P 500
INDEX |
LARGECAP
S&P 500
MANAGED VOLATILITY INDEX |
LARGECAP
VALUE |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Convertible
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Counterparty
Risk |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Derivatives |
Non-Principal |
Principal |
Principal |
Non-Principal |
Emerging
Markets |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
• Growth
Stock |
Principal |
Principal |
Principal |
Non-Principal |
• Small and Medium
Market Capitalization Companies |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
• Value
Stock |
Non-Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Foreign
Currency |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Foreign
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Not Applicable |
Principal |
Non-Principal |
High Yield
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Non-Principal(1) |
Non-Principal(1) |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Principal |
Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Preferred
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Real Estate Investment Trusts
(REITs) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Securitized
Products |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
(1) |
An Index Account may
concentrate its investments in a particular industry only to the extent
that the relevant index is so
concentrated. |
INVESTMENT
STRATEGIES AND RISKS |
MIDCAP |
MULTI-ASSET
INCOME |
PRINCIPAL
CAPITAL APPRECIATION |
PRINCIPAL
LIFETIME
STRATEGIC INCOME |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Contingent Convertible
Securities ("CoCos") |
Not Applicable |
Non-Principal |
Not Applicable |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Not Applicable |
Principal |
Not Applicable |
Principal |
Derivatives |
Non-Principal |
Principal |
Not Applicable |
Principal |
Emerging
Markets |
Not Applicable |
Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
• Growth
Stock |
Principal |
Principal |
Principal |
Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Principal |
Principal |
Non-Principal |
• Value
Stock |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Non-Principal |
Principal |
Non-Principal |
Principal |
Foreign
Currency |
Principal |
Principal |
Not Applicable |
Principal |
Foreign
Securities |
Principal |
Principal |
Non-Principal |
Principal |
Fund of Funds |
Not Applicable |
Principal |
Not Applicable |
Principal |
Hedging |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
High Yield
Securities |
Not Applicable |
Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Principal |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Non-Principal |
Not Applicable |
Non-Principal |
Portfolio
Duration |
Not Applicable |
Principal |
Not Applicable |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs" |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Principal |
Non-Principal |
Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Securitized
Products |
Not Applicable |
Principal |
Not Applicable |
Principal |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Non-Principal |
Not Applicable |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES AND RISKS |
PRINCIPAL
LIFETIME
2010 |
PRINCIPAL
LIFETIME
2020 |
PRINCIPAL
LIFETIME
2030 |
PRINCIPAL
LIFETIME
2040 |
Bank Loans (also known as
Senior Floating Rate Interests) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Principal |
Principal |
Principal |
Principal |
Derivatives |
Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
• Growth
Stock |
Principal |
Principal |
Principal |
Principal |
• Small and Medium
Market Capitalization Companies |
Non-Principal |
Principal |
Principal |
Principal |
• Value
Stock |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Principal |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Securitized
Products |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Short Sales |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Principal |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES AND RISKS |
PRINCIPAL
LIFETIME
2050 |
PRINCIPAL
LIFETIME
2060 |
REAL ESTATE
SECURITIES |
SAM
BALANCED |
Bank Loans (also known as
Senior Floating Rate Interests) |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Derivatives |
Principal |
Principal |
Non-Principal |
Non-Principal |
Emerging
Markets |
Principal |
Principal |
Not Applicable |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
• Growth
Stock |
Principal |
Principal |
Non-Principal |
Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Principal |
Non-Principal |
Principal |
• Value
Stock |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Non-Principal |
Principal |
Foreign
Currency |
Principal |
Principal |
Not Applicable |
Principal |
Foreign
Securities |
Principal |
Principal |
Non-Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Not Applicable |
Principal |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Not Applicable |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Principal |
Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Securitized
Products |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Short Sales |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES AND RISKS |
SAM
CONSERVATIVE BALANCED |
SAM
CONSERVATIVE GROWTH |
SAM
FLEXIBLE
INCOME |
SAM
STRATEGIC
GROWTH |
Bank Loans (also known as
Senior Floating Rate Interests) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
• Growth
Stock |
Principal |
Principal |
Non-Principal |
Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Principal |
Non-Principal |
Principal |
• Value
Stock |
Principal |
Principal |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Non-Principal |
Foreign
Currency |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Principal |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Principal |
Non-Principal |
Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Duration |
Principal |
Principal |
Principal |
Non-Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Non-Principal |
Principal |
Non-Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Securitized
Products |
Principal |
Non-Principal |
Principal |
Non-Principal |
Short Sales |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Principal |
Principal |
Non-Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES AND RISKS |
SHORT-TERM
INCOME |
SMALLCAP |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities ("CoCos") |
Non-Principal |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Non-Principal |
Not
Applicable |
Derivatives |
Non-Principal |
Non-Principal |
Emerging
Markets |
Non-Principal |
Not
Applicable |
Equity
Securities |
Not Applicable |
Principal |
• Growth
Stock |
Not Applicable |
Principal |
• Small and Medium
Market Capitalization Companies |
Not Applicable |
Principal |
• Value
Stock |
Not Applicable |
Principal |
Fixed-Income
Securities |
Principal |
Non-Principal |
Foreign
Currency |
Principal |
Not
Applicable |
Foreign
Securities |
Principal |
Non-Principal |
Fund of Funds |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Not
Applicable |
Portfolio
Duration |
Principal |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Non-Principal |
Redemption Risk |
Principal |
Not
Applicable |
Royalty Trusts |
Non-Principal |
Non-Principal |
Securitized
Products |
Principal |
Not
Applicable |
Short Sales |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Principal |
Non-Principal |
Volatility
Mitigation |
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. |
• |
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 |
Diversified
Balanced
Account |
Diversified
Balanced
Managed Volatility
Account |
Diversified
Growth
Account |
Diversified
Growth
Managed Volatility
Account |
Diversified
Income
Account |
Bond Market Index
Account |
50.4% |
50.3% |
35.3% |
35.2% |
65.3% |
International Equity Index
Fund |
7.0% |
7.0% |
10.0% |
10.0% |
4.0% |
LargeCap S&P 500 Index
Account |
34.6% |
— |
44.6% |
— |
24.7% |
LargeCap S&P 500 Managed
Volatility Index Account |
— |
34.7% |
— |
44.8% |
— |
MidCap S&P 400 Index
Fund |
4.0% |
4.0% |
5.1% |
5.0% |
3.0% |
SmallCap S&P 600 Index
Fund |
4.0% |
4.0% |
5.0% |
5.0% |
3.0% |
Total |
100% |
100% |
100% |
100% |
100% |
Underlying
Fund |
Principal
LifeTime
Strategic
Income
Account |
Principal
LifeTime
2010
Account |
Principal
LifeTime
2020
Account |
Principal
LifeTime
2030
Account |
Principal
LifeTime
2040
Account |
Principal
LifeTime
2050
Account |
Principal
LifeTime
2060
Account |
Blue Chip Fund |
3.6% |
3.0% |
4.2% |
4.7% |
2.2% |
3.9% |
3.2% |
Bond Market Index
Fund |
10.9% |
8.7% |
7.0% |
5.0% |
4.4% |
2.3% |
1.5% |
Core Plus Bond
Account |
23.6% |
18.1% |
17.6% |
12.5% |
8.2% |
4.4% |
2.8% |
Diversified International
Fund |
2.7% |
4.1% |
5.9% |
7.5% |
9.1% |
10.1% |
10.5% |
Diversified Real Asset
Fund |
— |
2.6% |
2.7% |
2.6% |
2.6% |
2.6% |
2.3% |
Equity Income
Fund |
3.6% |
2.9% |
4.1% |
3.6% |
2.8% |
3.0% |
3.1% |
Global Diversified Income
Fund |
10.1% |
9.0% |
6.8% |
4.4% |
— |
— |
— |
Global Multi-Strategy
Fund |
6.5% |
5.3% |
4.7% |
3.4% |
— |
— |
— |
Global Opportunities
Fund |
1.6% |
3.2% |
4.9% |
6.4% |
3.8% |
4.1% |
4.3% |
Global Real Estate Securities
Fund |
— |
— |
0.9% |
1.7% |
1.1% |
1.4% |
1.5% |
High Yield Fund
I |
— |
— |
— |
— |
3.0% |
1.9% |
2.0% |
Inflation Protection
Fund |
7.5% |
6.0% |
3.5% |
2.2% |
— |
— |
— |
International Emerging Markets
Fund |
— |
0.6% |
0.7% |
1.0% |
1.2% |
1.2% |
1.2% |
International Small Company
Fund |
— |
— |
— |
0.5% |
1.6% |
1.7% |
1.8% |
LargeCap Growth Fund
I |
— |
2.7% |
4.1% |
6.2% |
10.7% |
10.7% |
11.4% |
LargeCap S&P 500 Index
Fund |
3.0% |
4.5% |
7.1% |
9.4% |
11.5% |
12.4% |
12.7% |
LargeCap Value
Fund |
— |
— |
— |
3.1% |
3.8% |
3.6% |
4.2% |
LargeCap Value Fund
III |
— |
2.8% |
4.1% |
4.7% |
7.0% |
7.4% |
7.8% |
MidCap Fund |
2.6% |
2.3% |
3.4% |
5.3% |
— |
— |
— |
MidCap Growth Fund
III |
— |
— |
— |
— |
4.8% |
5.3% |
5.4% |
MidCap Value Fund
III |
— |
2.0% |
3.0% |
3.1% |
5.2% |
5.7% |
5.8% |
Origin Emerging Markets
Fund |
— |
0.5% |
0.7% |
0.9% |
1.1% |
1.2% |
1.1% |
Overseas Fund |
2.9% |
4.3% |
5.7% |
7.1% |
9.2% |
9.9% |
10.7% |
Real Estate Securities
Fund |
— |
— |
0.6% |
0.9% |
1.6% |
1.8% |
1.8% |
Short-Term Income
Account |
20.5% |
15.7% |
5.4% |
— |
— |
— |
— |
SmallCap Growth Fund
I |
0.4% |
0.8% |
1.4% |
1.8% |
2.5% |
2.5% |
2.3% |
SmallCap Value Fund
II |
0.5% |
0.9% |
1.5% |
2.0% |
2.6% |
2.9% |
2.6% |
Total |
100% |
100% |
100% |
100% |
100% |
100% |
100% |
Underlying
Fund |
Balanced Portfolio |
Conservative
Balanced
Portfolio |
Conservative
Growth
Portfolio |
Flexible
Income
Portfolio |
Strategic
Growth
Portfolio |
Multi-Asset
Income Account |
Blue Chip Fund |
4.6% |
2.0% |
5.9% |
— |
— |
— |
Diversified International
Fund |
10.8% |
7.6% |
14.5% |
2.9% |
18.4% |
— |
Diversified Real Asset
Fund |
— |
— |
2.4% |
— |
— |
— |
EDGE MidCap
Fund |
2.1% |
1.8% |
2.7% |
— |
2.3% |
— |
Equity Income
Account |
11.3% |
7.2% |
11.7% |
9.2% |
11.7% |
— |
Equity Income
Fund |
— |
— |
— |
— |
— |
6.5% |
Global Diversified Income
Fund |
2.0% |
3.3% |
— |
6.5% |
— |
44.2% |
Global Multi-Strategy
Fund |
7.7% |
5.1% |
2.8% |
— |
2.0% |
— |
Global Real Estate Securities
Fund |
2.4% |
1.9% |
1.9% |
2.3% |
3.7% |
6.3% |
Government & High Quality
Bond Account |
5.1% |
10.2% |
2.3% |
10.2% |
— |
— |
High Yield Fund |
2.1% |
5.0% |
1.5% |
7.4% |
— |
15.3% |
Income Account |
12.6% |
20.1% |
5.2% |
30.4% |
— |
— |
Inflation Protection
Fund |
1.7% |
2.4% |
— |
4.2% |
— |
— |
International Emerging Markets
Fund |
2.3% |
1.6% |
— |
0.9% |
— |
— |
International Fund
I |
— |
— |
— |
— |
— |
5.9% |
International Small Company
Fund |
1.1% |
0.7% |
1.4% |
— |
1.9% |
— |
LargeCap Growth
Fund |
5.2% |
4.3% |
7.6% |
3.0% |
11.7% |
— |
LargeCap Value
Fund |
6.7% |
5.8% |
11.4% |
3.2% |
11.3 |
— |
MidCap Account |
4.8% |
2.2% |
6.6% |
— |
— |
— |
Multi-Manager Equity Long/Short
Fund |
— |
— |
2.8% |
— |
2.2% |
— |
Origin Emerging Markets
Fund |
— |
— |
3.3% |
— |
6.3% |
— |
Preferred Securities
Fund |
2.0% |
1.4% |
1.5% |
1.5% |
— |
14.0% |
Principal Capital Appreciation
Fund |
3.5% |
2.7% |
5.1% |
— |
15.5% |
— |
Principal EDGE Active Income
ETF |
1.1% |
2.5% |
— |
2.8% |
3.9% |
— |
Principal U.S. Small Cap Index
ETF |
1.4% |
1.1% |
2.2% |
— |
3.2% |
— |
Real Estate Debt Income
Fund |
1.0% |
1.0% |
— |
1.9% |
1.0% |
7.8% |
Short-Term Income
Fund |
3.9% |
6.8% |
1.5% |
9.2% |
— |
— |
Small-MidCap Dividend Income
Fund |
4.6% |
3.3% |
5.7% |
4.4% |
4.9% |
— |
Total |
100% |
100% |
100% |
100% |
100% |
100% |
• |
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. |
Account |
Total
Percentage of Outstanding Shares Owned |
Bond Market
Index |
99.81% |
Core Plus Bond |
22.99% |
Equity Income |
33.80% |
Government & High Quality
Bond |
35.54% |
Income |
94.06% |
LargeCap S&P 500 Index
|
90.38% |
LargeCap S&P 500 Managed
Volatility Index |
100.00% |
MidCap |
10.42% |
Short-Term Income
|
12.65% |
• |
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.
|
• |
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.
|
• |
For the MidCap Account, these
services are provided by "Aligned Investors", a specialized boutique of
PGI. |
• |
For the Equity Income Account,
Government & High Quality Bond Account, Income Account, Principal
Capital Appreciation Account, SAM (Strategic Asset Management) Balanced
Portfolio, SAM (Strategic Asset Management) Conservative Balanced
Portfolio, SAM (Strategic Asset Management) Conservative Growth Portfolio,
SAM (Strategic Asset Management) Flexible Income Portfolio, SAM (Strategic
Asset Management) Strategic Growth Portfolio, and Short-Term Income
Account, these services are provided by "Edge Asset Management", a
specialized boutique of PGI. |
• |
For the LargeCap Growth
Account I, Principal LifeTime Strategic Income Fund, Principal LifeTime
2010 Account, Principal LifeTime 2020 Account, Principal LifeTime 2030
Account, Principal LifeTime 2040 Fund, Principal LifeTime 2050 Fund,
Principal LifeTime 2060 Fund, these services are provided by “Principal
Portfolio StrategiesSM”, a specialized boutique of
PGI. |
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. |
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. |
Sub-Advisor: |
Mellon
Capital Management Corporation (“Mellon Capital”), 50 Fremont Street, Suite
3900, San Francisco, CA 94105, specializes in providing domestic and
global asset allocation strategies, traditional and enhanced indexing,
active equity and fixed income strategies, alternative investments,
currency strategies, active commodities, and overlay
strategies. |
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. |
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. |
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. |
Balanced |
0.60% |
LargeCap Value |
0.60% |
Bond Market
Index |
0.25% |
MidCap |
0.53% |
Core Plus Bond |
0.45% |
Multi-Asset
Income |
0.03% |
Diversified
Balanced |
0.05% |
Principal Capital
Appreciation |
0.62% |
Diversified Balanced Managed
Volatility |
0.05% |
Principal LifeTime 2010
(1) |
0.00% |
Diversified Balanced Volatility
Control |
0.12% |
Principal LifeTime 2020
(1) |
0.00% |
Diversified
Growth |
0.05% |
Principal LifeTime 2030
(1) |
0.00% |
Diversified Growth Managed
Volatility |
0.05% |
Principal LifeTime 2040
(1) |
0.00% |
Diversified Growth Volatility
Control |
0.12% |
Principal LifeTime 2050
(1) |
0.00% |
Diversified
Income |
0.05% |
Principal LifeTime 2060
(1) |
0.00% |
Diversified
International |
0.85% |
Principal LifeTime Strategic
Income (1) |
0.00% |
Equity Income |
0.49% |
Real Estate
Securities |
0.88% |
Government & High Quality
Bond |
0.50% |
SAM Balanced |
0.23% |
Income |
0.50% |
SAM Conservative
Balanced |
0.23% |
International Emerging
Markets |
1.25% |
SAM Conservative
Growth |
0.23% |
LargeCap Growth |
0.68% |
SAM Flexible
Income |
0.23% |
LargeCap Growth
I |
0.76% |
SAM Strategic
Growth |
0.23% |
LargeCap S&P 500
Index |
0.25% |
Short-Term
Income |
0.50% |
LargeCap S&P 500 Index
Managed Volatility |
0.45% |
SmallCap |
0.82% |
(1) Management fees have been
restated to reflect current fees. Effective March 1, 2016, the Management
Fees were reduced. |
Annual
Report
to
Shareholders
for the
period ending
December 31,
2016 | ||
Fund |
Management
Agreement |
Sub-Advisory
Agreement |
All Accounts |
X |
X |
• |
hire one or more Sub-Advisors;
|
• |
change Sub-Advisors; and
|
• |
reallocate management fees
between itself and Sub-Advisors. |
• |
taking the current market
value of the total assets of the Account |
• |
subtracting liabilities of the
Account |
• |
dividing the remainder
proportionately into the classes of the
Account |
• |
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 an Account, 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. |
• |
An Account'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 Account 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 Account or
by an underlying Account or 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 Sub-Advisor expects the securities may be
sold. |
• |
Management Fee – Through
the Management Agreement with the Account, PGI has agreed to provide
investment advisory services and corporate administrative services to the
Account. |
• |
Distribution Fee— Each of the
Accounts with Class 2 shares has adopted a distribution plan under
Rule 12b-1 of the Investment Company Act of 1940 for its Class 2
shares. Under the plan, Class 2 shares of each Account pay a
distribution fee based on the average daily net asset value (NAV) of the
Account. These fees pay distribution and other expenses for sale of
Account shares and for services provided to shareholders. Because they are
ongoing fees, over time they will increase the cost of your investment and
may cost you more than paying other types of sales charges.
|
• |
Other Expenses – A
portion of expenses that are allocated to all classes of the Account.
|
• |
Acquired Fund Fees and
Expenses - fees and expenses charged by other investment companies in
which an Account invests a portion of its assets.
|
• |
Disrupt the management of the
Accounts by: |
• |
forcing the Account to hold
short-term (liquid) assets rather than investing for long-term growth,
which results in lost investment opportunities for the Account
and |
• |
causing unplanned portfolio
turnover; |
• |
Hurt the portfolio performance
of the Account; and |
• |
Increase expenses of the
Account due to: |
• |
increased broker-dealer
commissions and |
• |
increased recordkeeping and
related costs. |
• |
Rejecting exchange
instructions from a 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 via
the internet, by facsimile, by overnight courier, or by
telephone; |
• |
Limiting the dollar amount of
an exchange and/or the number of exchanges during a
year; |
• |
Requiring a holding period of
a minimum of 30 days before permitting exchanges among the Accounts where
there is evidence of at least one round-trip exchange (exchange or
redemption of shares that were purchased within 30 days of the
exchange/redemption); and |
• |
Taking such other action as
directed by the Fund. |
Note: |
No salesperson, broker-dealer
or other person is authorized to give information or make representations
about an Account other than those contained in
this Prospectus. Information or representations not contained in this
prospectus may not be relied upon as having been provided or made by
Principal Variable Contracts Funds, Inc., an Account, PGI, any
Sub-Advisor, or Principal Funds Distributor,
Inc. |
• |
Contract holders as of August
15, 2013, may continue to select this investment
option. |
• |
Funds of funds may continue to
invest in the Account. |
• |
Investors who have a direct
investment in the MidCap Strategy may, subject to the approval of the
Distributor, purchase shares in the
Account. |
FINANCIAL
HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | ||||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | ||||||||||||||
BALANCED
ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
|
$17.70 |
|
|
$0.31 |
|
|
$0.69 |
|
|
$1.00 |
|
|
($0.37 |
) |
($1.01) |
|
|
($1.38 |
) |
2015 |
19.26 |
|
0.33 |
|
(0.21 |
) |
0.12 |
|
(0.35 |
) |
(1.33 |
) |
(1.68 |
) | ||||||
2014 |
18.01 |
|
0.30 |
|
1.28 |
|
1.58 |
|
(0.33 |
) |
– |
|
(0.33 |
) | ||||||
2013 |
15.35 |
|
0.27 |
|
2.69 |
|
2.96 |
|
(0.30 |
) |
– |
|
(0.30 |
) | ||||||
2012 |
13.86 |
|
0.30 |
|
1.50 |
|
1.80 |
|
(0.31 |
) |
– |
|
(0.31 |
) | ||||||
BOND
MARKET INDEX ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
10.20 |
|
0.19 |
|
0.05 |
|
0.24 |
|
(0.19 |
) |
– |
|
(0.19 |
) | ||||||
2015 |
10.34 |
|
0.18 |
|
(0.17 |
) |
0.01 |
|
(0.15 |
) |
– |
|
(0.15 |
) | ||||||
2014 |
9.88 |
|
0.17 |
|
0.40 |
|
0.57 |
|
(0.11 |
) |
– |
|
(0.11 |
) | ||||||
2013 |
10.21
|
|
0.13
|
|
(0.39 |
) |
(0.26 |
) |
(0.07 |
) |
– |
|
(0.07 |
) | ||||||
2012(c) |
10.00
|
|
0.08
|
|
0.13 |
|
0.21 |
|
– |
|
– |
|
– |
| ||||||
CORE
PLUS BOND ACCOUNT(f) |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
11.05 |
|
0.32 |
|
0.14 |
|
0.46 |
|
(0.36 |
) |
– |
|
(0.36 |
) | ||||||
2015 |
11.46 |
|
0.32 |
|
(0.37 |
) |
(0.05 |
) |
(0.36 |
) |
– |
|
(0.36 |
) | ||||||
2014 |
11.24 |
|
0.31 |
|
0.28 |
|
0.59 |
|
(0.37 |
) |
– |
|
(0.37 |
) | ||||||
2013 |
11.74 |
|
0.32 |
|
(0.43 |
) |
(0.11 |
) |
(0.39 |
) |
– |
|
(0.39 |
) | ||||||
2012 |
11.35 |
|
0.36 |
|
0.48 |
|
0.84 |
|
(0.45 |
) |
– |
|
(0.45 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
11.03 |
|
0.29 |
|
0.14 |
|
0.43 |
|
(0.35 |
) |
– |
|
(0.35 |
) | ||||||
2015(g) |
11.62 |
|
0.19 |
|
(0.42 |
) |
(0.23 |
) |
(0.36 |
) |
– |
|
(0.36 |
) | ||||||
DIVERSIFIED
BALANCED ACCOUNT |
||||||||||||||||||||
Class
2 shares |
||||||||||||||||||||
2016 |
14.11 |
|
0.22 |
|
0.75 |
|
0.97 |
|
(0.18 |
) |
(0.14 |
) |
(0.32 |
) | ||||||
2015 |
14.39 |
|
0.19 |
|
(0.17 |
) |
0.02 |
|
(0.14 |
) |
(0.16 |
) |
(0.30 |
) | ||||||
2014 |
13.66 |
|
0.16 |
|
0.85 |
|
1.01 |
|
(0.13 |
) |
(0.15 |
) |
(0.28 |
) | ||||||
2013 |
12.28 |
|
0.15 |
|
1.43 |
|
1.58 |
|
(0.04 |
) |
(0.16 |
) |
(0.20 |
) | ||||||
2012 |
11.30 |
|
0.06
|
|
1.03
|
|
1.09
|
|
(0.11 |
) |
– |
|
(0.11 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Period from May 15, 2012 date
operations commenced, through December 31, 2012. |
(d) |
Total return amounts have not
been annualized. |
(e) |
Computed on an annualized
basis. |
(f) |
Effective May 1, 2016, Bond
& Mortgage Securities Account changed its name to Core Plus Bond
Account. |
(g) |
Period from May 1, 2015 date
operations commenced, through December 31, 2015. |
(h) |
Does not include expenses of
the investment companies in which the Account invests. |
(i) |
Excludes expense
reimbursement from Manager. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||
Net Asset Value, End of
Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of Gross Expenses to
Average Net Assets |
Ratio of
Net Investment Income to
Average Net Assets |
Portfolio
Turnover
Rate | |||||||
|
$17.32 |
|
5.68
% |
|
$41,813
|
|
0.67
% |
|
–
% |
1.79
% |
|
107.7 |
% |
17.70 |
|
0.42 |
|
44,254 |
|
0.66 |
|
– |
1.72 |
|
114.8 |
| |
19.26 |
|
8.81 |
|
50,588 |
|
0.65 |
|
– |
1.61 |
|
119.8 |
| |
18.01 |
|
19.48 |
|
51,633 |
|
0.66 |
|
– |
1.65 |
|
147.3 |
| |
15.35 |
|
13.05 |
|
49,151 |
|
0.65 |
|
– |
1.99 |
|
154.7 |
| |
10.25 |
|
2.29 |
|
2,184,608 |
|
0.25 |
|
– |
1.86 |
|
118.5 |
| |
10.20 |
|
0.13 |
|
1,937,655 |
|
0.25 |
|
– |
1.77 |
|
154.0 |
| |
10.34 |
|
5.75 |
|
1,734,803 |
|
0.26 |
|
– |
1.68 |
|
195.7 |
| |
9.88 |
|
(2.56 |
) |
1,264,213 |
|
0.26 |
|
– |
1.26 |
|
225.8 |
| |
10.21 |
|
2.10
(d) |
|
753,130 |
|
0.26
(e) |
|
– |
1.27
(e) |
|
160.6
(e) |
| |
11.15 |
|
4.09 |
|
292,436 |
|
0.46 |
|
– |
2.79 |
|
155.1 |
| |
11.05 |
|
(0.48 |
) |
290,032 |
|
0.46 |
|
– |
2.80 |
|
177.2 |
| |
11.46 |
|
5.24
|
|
321,735 |
|
0.45
|
|
– |
2.74
|
|
205.6 |
| |
11.24 |
|
(0.86) |
|
316,177 |
|
0.45
|
|
– |
2.79
|
|
204.8 |
| |
11.74 |
|
7.54
|
|
342,051 |
|
0.45
|
|
– |
3.12
|
|
218.2 |
| |
11.11 |
|
3.82
|
|
232 |
|
0.71
|
|
– |
2.55
|
|
155.1
|
| |
11.03 |
|
(2.03)(d) |
|
28 |
|
0.71
(e) |
|
– |
2.58
(e) |
|
177.2
(e) |
| |
14.76 |
|
6.90 |
|
1,099,647 |
|
0.30
(h) |
|
0.30
(h),(i) |
1.51 |
|
14.1 |
| |
14.11 |
|
0.16 |
|
1,031,111 |
|
0.30
(h) |
|
0.30
(h),(i) |
1.29 |
|
14.3 |
| |
14.39 |
|
7.41 |
|
1,011,106 |
|
0.30
(h) |
|
0.30
(h),(i) |
1.11 |
|
9.0 |
| |
13.66 |
|
12.95 |
|
856,784 |
|
0.30
(h) |
|
0.30
(h),(i) |
1.16 |
|
10.1 |
| |
12.28 |
|
9.71
|
|
581,734 |
|
0.30
(h) |
|
0.30
(h),(i) |
0.52
|
|
56.6 |
|
FINANCIAL
HIGHLIGHTS | |||||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | |||||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | |||||||||||||||
DIVERSIFIED
BALANCED MANAGED VOLATILITY ACCOUNT |
|||||||||||||||||||||
Class
2 shares |
|||||||||||||||||||||
2016 |
|
$10.72 |
|
|
$0.16 |
|
|
$0.53 |
|
|
$0.69 |
|
|
($0.08 |
) |
|
($0.06 |
) |
|
($0.14 |
) |
2015 |
10.88 |
|
0.10 |
|
(0.09 |
) |
0.01 |
|
(0.09 |
) |
(0.08 |
) |
(0.17 |
) | |||||||
2014 |
10.18 |
|
0.27 |
|
0.43 |
|
0.70 |
|
– |
|
– |
|
– |
| |||||||
2013(e) |
10.00 |
|
0.13 |
|
0.05 |
|
0.18 |
|
– |
|
– |
|
– |
| |||||||
DIVERSIFIED
GROWTH ACCOUNT |
|||||||||||||||||||||
Class
2 shares |
|||||||||||||||||||||
2016 |
15.08 |
|
0.24 |
|
0.98 |
|
1.22 |
|
(0.19 |
) |
(0.18 |
) |
(0.37 |
) | |||||||
2015 |
15.40 |
|
0.21 |
|
(0.18 |
) |
0.03 |
|
(0.16 |
) |
(0.19 |
) |
(0.35 |
) | |||||||
2014 |
14.60 |
|
0.19 |
|
0.94 |
|
1.13 |
|
(0.14 |
) |
(0.19 |
) |
(0.33 |
) | |||||||
2013 |
12.54 |
|
0.20 |
|
2.04 |
|
2.24 |
|
(0.06 |
) |
(0.12 |
) |
(0.18 |
) | |||||||
2012 |
11.33 |
|
0.09 |
|
1.22 |
|
1.31 |
|
(0.10 |
) |
– |
|
(0.10 |
) | |||||||
DIVERSIFIED
GROWTH MANAGED VOLATILITY ACCOUNT |
|||||||||||||||||||||
Class
2 shares |
|||||||||||||||||||||
2016 |
10.79 |
|
0.16 |
|
0.66 |
|
0.82 |
|
(0.07 |
) |
(0.08 |
) |
(0.15 |
) | |||||||
2015 |
10.99 |
|
0.09 |
|
(0.08 |
) |
0.01 |
|
(0.11 |
) |
(0.10 |
) |
(0.21 |
) | |||||||
2014 |
10.27 |
|
0.31 |
|
0.41 |
|
0.72 |
|
– |
|
– |
|
– |
| |||||||
2013(e) |
10.00 |
|
0.26 |
|
0.01 |
|
0.27 |
|
– |
|
– |
|
– |
| |||||||
DIVERSIFIED
INCOME ACCOUNT |
|||||||||||||||||||||
Class
2 shares |
|||||||||||||||||||||
2016 |
11.87 |
|
0.19 |
|
0.47 |
|
0.66 |
|
(0.12 |
) |
(0.07 |
) |
(0.19 |
) | |||||||
2015 |
12.03 |
|
0.15 |
|
(0.12 |
) |
0.03 |
|
(0.10 |
) |
(0.09 |
) |
(0.19 |
) | |||||||
2014 |
11.38 |
|
0.12 |
|
0.66 |
|
0.78 |
|
(0.06 |
) |
(0.07 |
) |
(0.13 |
) | |||||||
2013 |
10.54 |
|
0.11 |
|
0.75 |
|
0.86 |
|
(0.01 |
) |
(0.01 |
) |
(0.02 |
) | |||||||
2012(i) |
10.00 |
|
0.06 |
|
0.48 |
|
0.54 |
|
– |
|
– |
|
– |
|
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Reflects Manager's
contractual expense limit. |
(d) |
Does not include expenses of
the investment companies in which the Account invests. |
(e) |
Period from October 31, 2013
date operations commenced, through December 31, 2013. |
(f) |
Total return amounts have not
been annualized. |
(g) |
Computed on an annualized
basis. |
(h) |
Excludes expense
reimbursement from Manager. |
(i) |
Period from May 15, 2012 date
operations commenced, through December 31,
2012. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of Gross Expenses to
Average Net Assets |
Ratio of
Net Investment Income to
Average Net Assets |
Portfolio
Turnover
Rate | |||||||
|
$11.27 |
|
6.42
% |
|
|
$168,756 |
|
0.31
%(c),(d) |
–
% |
1.48
% |
|
13.6
% |
|
10.72 |
|
0.01 |
|
138,384 |
|
0.31
(c),(d) |
– |
0.90 |
|
14.1 |
| ||
10.88 |
|
6.89 |
|
84,527 |
|
0.31
(c),(d) |
– |
2.54 |
|
8.1 |
| ||
10.18 |
|
1.80
(f) |
|
887 |
|
0.31
(c),(d),(g) |
– |
7.97
(g) |
|
6.6
(g) |
| ||
15.93 |
|
8.14
|
|
3,588,901 |
|
0.30
(d) |
0.30
(d),(h) |
1.53
|
|
11.1
|
| ||
15.08 |
|
0.17 |
|
3,201,495 |
|
0.30
(d) |
0.30
(d),(h) |
1.37 |
|
10.7 |
| ||
15.40 |
|
7.83 |
|
2,880,722 |
|
0.30
(d) |
0.30
(d),(h) |
1.25 |
|
7.1 |
| ||
14.60 |
|
17.95 |
|
2,202,857 |
|
0.30
(d) |
0.30
(d),(h) |
1.49 |
|
7.7 |
| ||
12.54 |
|
11.63 |
|
1,218,171 |
|
0.30
(d) |
0.30
(d),(h) |
0.76 |
|
42.6
|
| ||
11.46 |
|
7.56
|
|
313,672 |
|
0.30
(c),(d) |
– |
1.49
|
|
11.7
|
| ||
10.79 |
|
0.06
|
|
252,611 |
|
0.30
(c),(d) |
– |
0.82
|
|
11.5
|
| ||
10.99 |
|
7.06
|
|
151,672 |
|
0.31
(c),(d) |
– |
2.92
|
|
8.0
|
| ||
10.27 |
|
2.70
(f) |
|
3,988 |
|
0.31
(c),(d),(g) |
– |
15.10
(g) |
|
127.3
(g) |
| ||
12.34 |
|
5.56 |
|
254,001 |
|
0.30
(d) |
0.30
(d),(h) |
1.56 |
|
19.3 |
| ||
11.87 |
|
0.16 |
|
198,762 |
|
0.30
(d) |
0.30
(d),(h) |
1.25 |
|
20.1 |
| ||
12.03 |
|
6.89 |
|
168,562 |
|
0.31
(d) |
0.31
(d),(h) |
1.06 |
|
18.7 |
| ||
11.38 |
|
8.14 |
|
112,037 |
|
0.31
(d) |
0.31
(d),(h) |
0.96 |
|
27.0
|
| ||
10.54 |
|
5.40
(f) |
|
54,787 |
|
0.31
(d),(g) |
0.32
(d),(g),(h) |
0.87
(g) |
|
12.1
(g) |
|
FINANCIAL
HIGHLIGHTS |
||||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. |
||||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | ||||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | ||||||||||||||
DIVERSIFIED
INTERNATIONAL ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
|
$13.68 |
|
|
$0.24 |
|
|
($0.18 |
) |
|
$0.06 |
|
|
($0.32 |
) |
$– |
|
|
($0.32 |
) |
2015 |
14.08 |
|
0.26 |
|
(0.29 |
) |
(0.03 |
) |
(0.37 |
) |
– |
|
(0.37 |
) | ||||||
2014 |
14.87 |
|
0.24 |
|
(0.70 |
) |
(0.46 |
) |
(0.33 |
) |
– |
|
(0.33 |
) | ||||||
2013 |
12.89 |
|
0.24 |
|
2.09 |
|
2.33 |
|
(0.35 |
) |
– |
|
(0.35 |
) | ||||||
2012 |
11.12 |
|
0.27 |
|
1.76 |
|
2.03 |
|
(0.26 |
) |
– |
|
(0.26 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
13.78 |
|
0.20 |
|
(0.18 |
) |
0.02 |
|
(0.28 |
) |
– |
|
(0.28 |
) | ||||||
2015 |
14.19 |
|
0.21 |
|
(0.29 |
) |
(0.08 |
) |
(0.33 |
) |
– |
|
(0.33 |
) | ||||||
2014 |
14.97 |
|
0.21 |
|
(0.70 |
) |
(0.49 |
) |
(0.29 |
) |
– |
|
(0.29 |
) | ||||||
2013 |
12.96 |
|
0.22 |
|
2.10 |
|
2.32 |
|
(0.31 |
) |
– |
|
(0.31 |
) | ||||||
2012 |
11.18 |
|
0.23 |
|
1.76 |
|
1.99 |
|
(0.21 |
) |
– |
|
(0.21 |
) | ||||||
EQUITY
INCOME ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
21.67 |
|
0.57 |
|
2.77 |
|
3.34 |
|
(0.64 |
) |
(1.17 |
) |
(1.81 |
) | ||||||
2015 |
23.12 |
|
0.58 |
|
(1.46 |
) |
(0.88 |
) |
(0.57 |
) |
– |
|
(0.57 |
) | ||||||
2014 |
21.00 |
|
0.57 |
|
2.09 |
|
2.66 |
|
(0.54 |
) |
– |
|
(0.54 |
) | ||||||
2013 |
17.03 |
|
0.54 |
|
4.04 |
|
4.58 |
|
(0.61 |
) |
– |
|
(0.61 |
) | ||||||
2012 |
15.53 |
|
0.54 |
|
1.47 |
|
2.01 |
|
(0.51 |
) |
– |
|
(0.51 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
21.52 |
|
0.51 |
|
2.75 |
|
3.26 |
|
(0.58 |
) |
(1.17 |
) |
(1.75 |
) | ||||||
2015 |
22.96 |
|
0.52 |
|
(1.45 |
) |
(0.93 |
) |
(0.51 |
) |
– |
|
(0.51 |
) | ||||||
2014 |
20.87 |
|
0.51 |
|
2.07 |
|
2.58 |
|
(0.49 |
) |
– |
|
(0.49 |
) | ||||||
2013 |
16.92 |
|
0.49 |
|
4.02 |
|
4.51 |
|
(0.56 |
) |
– |
|
(0.56 |
) | ||||||
2012 |
15.43 |
|
0.49 |
|
1.46 |
|
1.95 |
|
(0.46 |
) |
– |
|
(0.46 |
) |
(a) |
Calculated based on average
shares outstanding during the period. | ||||||||||||||
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown.
|
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment Income to
Average Net Assets |
Portfolio
Turnover
Rate | ||||||||
|
$13.42 |
|
0.36
% |
|
|
$243,997 |
|
0.91
% |
|
1.77
% |
|
56.8
% |
|
13.68 |
|
(0.35 |
) |
273,300 |
|
0.88 |
|
1.80 |
|
48.2 |
| ||
14.08 |
|
(3.21 |
) |
429,194 |
|
0.86 |
|
1.64 |
|
62.1 |
| ||
14.87 |
|
18.40 |
|
501,094 |
|
0.87 |
|
1.78 |
|
79.5 |
| ||
12.89 |
|
18.44 |
|
464,751 |
|
0.87 |
|
2.23 |
|
76.0 |
| ||
13.52 |
|
0.11 |
|
1,362 |
|
1.16 |
|
1.50 |
|
56.8 |
| ||
13.78 |
|
(0.65 |
) |
1,360 |
|
1.13 |
|
1.47 |
|
48.2 |
| ||
14.19 |
|
(3.41 |
) |
1,266 |
|
1.11 |
|
1.38 |
|
62.1 |
| ||
14.97 |
|
18.18 |
|
1,458 |
|
1.12 |
|
1.61 |
|
79.5 |
| ||
12.96 |
|
18.01 |
|
1,643 |
|
1.12 |
|
1.95 |
|
76.0 |
| ||
23.20 |
|
15.72 |
|
525,829 |
|
0.50 |
|
2.54 |
|
17.1 |
| ||
21.67 |
|
(3.93 |
) |
513,126 |
|
0.49 |
|
2.54 |
|
10.7 |
| ||
23.12 |
|
12.80 |
|
599,407 |
|
0.48 |
|
2.57 |
|
11.6 |
| ||
21.00 |
|
27.30 |
|
630,542 |
|
0.48 |
|
2.83 |
|
18.0 |
| ||
17.03 |
|
13.01 |
|
578,099 |
|
0.49 |
|
3.26 |
|
20.8 |
| ||
23.03 |
|
15.43 |
|
24,197 |
|
0.75 |
|
2.29 |
|
17.1 |
| ||
21.52 |
|
(4.15 |
) |
23,215 |
|
0.74 |
|
2.29 |
|
10.7 |
| ||
22.96 |
|
12.46 |
|
25,491 |
|
0.73 |
|
2.32 |
|
11.6 |
| ||
20.87 |
|
27.02 |
|
24,810 |
|
0.73 |
|
2.58 |
|
18.0 |
| ||
16.92 |
|
12.72 |
|
22,844 |
|
0.74 |
|
3.01 |
|
20.8 |
|
FINANCIAL
HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | ||||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | ||||||||||||||
GOVERNMENT
& HIGH QUALITY BOND ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
|
$10.16 |
|
|
$0.33 |
|
|
($0.14 |
) |
|
$0.19 |
|
|
($0.37 |
) |
$– |
|
|
($0.37 |
) |
2015 |
10.44 |
|
0.27 |
|
(0.19 |
) |
0.08 |
|
(0.35 |
) |
(0.01 |
) |
(0.36 |
) | ||||||
2014 |
10.33 |
|
0.27 |
|
0.25 |
|
0.52 |
|
(0.41 |
) |
– |
|
(0.41 |
) | ||||||
2013 |
10.87 |
|
0.27 |
|
(0.39 |
) |
(0.12 |
) |
(0.42 |
) |
– |
|
(0.42 |
) | ||||||
2012 |
10.90 |
|
0.33 |
|
0.09 |
|
0.42 |
|
(0.45 |
) |
– |
|
(0.45 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
10.17 |
|
0.31 |
|
(0.15 |
) |
0.16 |
|
(0.35 |
) |
– |
|
(0.35 |
) | ||||||
2015 |
10.45 |
|
0.25 |
|
(0.18 |
) |
0.07 |
|
(0.34 |
) |
(0.01 |
) |
(0.35 |
) | ||||||
2014 |
10.34 |
|
0.24 |
|
0.25 |
|
0.49 |
|
(0.38 |
) |
– |
|
(0.38 |
) | ||||||
2013 |
10.88 |
|
0.25 |
|
(0.39 |
) |
(0.14 |
) |
(0.40 |
) |
– |
|
(0.40 |
) | ||||||
2012 |
10.90 |
|
0.30 |
|
0.10 |
|
0.40 |
|
(0.42 |
) |
– |
|
(0.42 |
) | ||||||
INCOME
ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
10.24 |
|
0.38 |
|
0.21 |
|
0.59 |
|
(0.49 |
) |
– |
|
(0.49 |
) | ||||||
2015 |
10.78 |
|
0.39 |
|
(0.46 |
) |
(0.07 |
) |
(0.47 |
) |
– |
|
(0.47 |
) | ||||||
2014 |
10.68 |
|
0.43 |
|
0.16 |
|
0.59 |
|
(0.49 |
) |
– |
|
(0.49 |
) | ||||||
2013 |
11.22 |
|
0.46 |
|
(0.43 |
) |
0.03 |
|
(0.57 |
) |
– |
|
(0.57 |
) | ||||||
2012 |
10.71 |
|
0.53 |
|
0.48 |
|
1.01 |
|
(0.50 |
) |
– |
|
(0.50 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
10.20 |
|
0.36 |
|
0.21 |
|
0.57 |
|
(0.47 |
) |
– |
|
(0.47 |
) | ||||||
2015 |
10.73 |
|
0.36 |
|
(0.45 |
) |
(0.09 |
) |
(0.44 |
) |
– |
|
(0.44 |
) | ||||||
2014 |
10.63 |
|
0.40 |
|
0.16 |
|
0.56 |
|
(0.46 |
) |
– |
|
(0.46 |
) | ||||||
2013 |
11.17 |
|
0.43 |
|
(0.43 |
) |
– |
|
(0.54 |
) |
– |
|
(0.54 |
) | ||||||
2012 |
10.66 |
|
0.50 |
|
0.47 |
|
0.97 |
|
(0.46 |
) |
– |
|
(0.46 |
) |
(a) |
Calculated based on average
shares outstanding during the period. | |||||||||||||
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown.
|
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment Income to
Average Net Assets |
Portfolio
Turnover
Rate | ||||||||
|
$9.98 |
|
1.80
% |
|
|
$247,620 |
|
0.51
% |
|
3.25
% |
|
25.8
% |
|
10.16 |
|
0.79 |
|
286,659 |
|
0.51 |
|
2.61 |
|
21.9 |
| ||
10.44 |
|
5.08 |
|
314,509 |
|
0.51 |
|
2.56 |
|
19.1 |
| ||
10.33 |
|
(1.03 |
) |
379,351 |
|
0.51 |
|
2.58 |
|
45.3 |
| ||
10.87 |
|
3.91 |
|
432,172 |
|
0.51 |
|
2.98 |
|
41.4 |
| ||
9.98 |
|
1.54 |
|
2,307 |
|
0.76 |
|
3.02 |
|
25.8 |
| ||
10.17 |
|
0.67 |
|
1,837 |
|
0.76 |
|
2.37 |
|
21.9 |
| ||
10.45 |
|
4.75 |
|
916 |
|
0.76 |
|
2.31 |
|
19.1 |
| ||
10.34 |
|
(1.30 |
) |
931 |
|
0.76 |
|
2.33 |
|
45.3 |
| ||
10.88 |
|
3.70 |
|
1,143 |
|
0.76 |
|
2.73 |
|
41.4 |
| ||
10.34 |
|
5.72 |
|
228,874 |
|
0.51 |
|
3.66 |
|
8.1 |
| ||
10.24 |
|
(0.71) |
|
254,751 |
|
0.51 |
|
3.62 |
|
12.6 |
| ||
10.78 |
|
5.55 |
|
275,597 |
|
0.51 |
|
3.95 |
|
16.6 |
| ||
10.68 |
|
0.40 |
|
269,330 |
|
0.51 |
|
4.22 |
|
12.8 |
| ||
11.22 |
|
9.57 |
|
292,756 |
|
0.51 |
|
4.78 |
|
14.7 |
| ||
10.30 |
|
5.52 |
|
2,695 |
|
0.76 |
|
3.40 |
|
8.1 |
| ||
10.20 |
|
(0.92) |
|
2,445 |
|
0.76 |
|
3.38 |
|
12.6 |
| ||
10.73 |
|
5.26 |
|
3,036 |
|
0.76 |
|
3.71 |
|
16.6 |
| ||
10.63 |
|
0.10 |
|
3,390 |
|
0.76 |
|
3.97 |
|
12.8 |
| ||
11.17 |
|
9.28 |
|
3,875 |
|
0.76 |
|
4.55 |
|
14.7 |
|
FINANCIAL
HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | ||||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | ||||||||||||||
INTERNATIONAL
EMERGING MARKETS ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
|
$12.88 |
|
|
$0.14 |
|
|
$1.08 |
|
|
$1.22 |
|
|
($0.16 |
) |
$– |
|
|
($0.16 |
) |
2015 |
15.21 |
|
0.17 |
|
(2.25 |
) |
(2.08 |
) |
(0.25 |
) |
– |
|
(0.25 |
) | ||||||
2014 |
15.94 |
|
0.20 |
|
(0.78 |
) |
(0.58 |
) |
(0.15 |
) |
– |
|
(0.15 |
) | ||||||
2013 |
17.14 |
|
0.19 |
|
(1.07 |
) |
(0.88 |
) |
(0.32 |
) |
– |
|
(0.32 |
) | ||||||
2012 |
14.38 |
|
0.22 |
|
2.75 |
|
2.97 |
|
(0.21 |
) |
– |
|
(0.21 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
12.86 |
|
0.12 |
|
1.06 |
|
1.18 |
|
(0.15 |
) |
– |
|
(0.15 |
) | ||||||
2015(e) |
16.74 |
|
0.08 |
|
(3.71 |
) |
(3.63 |
) |
(0.25 |
) |
– |
|
(0.25 |
) | ||||||
LARGECAP
GROWTH ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
25.79 |
|
0.11 |
|
(1.43 |
) |
(1.32 |
) |
(0.07 |
) |
– |
|
(0.07 |
) | ||||||
2015 |
24.60 |
|
0.06 |
|
1.17 |
|
1.23 |
|
(0.04 |
) |
– |
|
(0.04 |
) | ||||||
2014 |
22.26 |
|
0.03 |
|
2.44 |
|
2.47 |
|
(0.13 |
) |
– |
|
(0.13 |
) | ||||||
2013 |
16.87 |
|
0.07 |
|
5.61 |
|
5.68 |
|
(0.29 |
) |
– |
|
(0.29 |
) | ||||||
2012 |
14.48 |
|
0.12 |
|
2.32 |
|
2.44 |
|
(0.05 |
) |
– |
|
(0.05 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
25.69 |
|
0.04 |
|
(1.42 |
) |
(1.38 |
) |
(0.02 |
) |
– |
|
(0.02 |
) | ||||||
2015 |
24.53 |
|
– |
|
1.16 |
|
1.16 |
|
– |
|
– |
|
– |
| ||||||
2014 |
22.20 |
|
(0.03 |
) |
2.44 |
|
2.41 |
|
(0.08 |
) |
– |
|
(0.08 |
) | ||||||
2013 |
16.83 |
|
0.02 |
|
5.59 |
|
5.61 |
|
(0.24 |
) |
– |
|
(0.24 |
) | ||||||
2012 |
14.43 |
|
0.08 |
|
2.32 |
|
2.40 |
|
– |
|
– |
|
– |
| ||||||
LARGECAP
GROWTH ACCOUNT I |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
26.33 |
|
0.01 |
|
0.34 |
|
0.35 |
|
– |
|
(2.13 |
) |
(2.13 |
) | ||||||
2015 |
28.70 |
|
0.02 |
|
2.26 |
|
2.28 |
|
(0.07 |
) |
(4.58 |
) |
(4.65 |
) | ||||||
2014 |
32.58 |
|
0.03 |
|
2.46 |
|
2.49 |
|
(0.04 |
) |
(6.33 |
) |
(6.37 |
) | ||||||
2013 |
24.77 |
|
0.04 |
|
8.75 |
|
8.79 |
|
(0.11 |
) |
(0.87 |
) |
(0.98 |
) | ||||||
2012 |
21.30 |
|
0.10 |
|
3.39 |
|
3.49 |
|
(0.02 |
) |
– |
|
(0.02 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
26.29 |
|
(0.05 |
) |
0.35 |
|
0.30 |
|
– |
|
(2.13 |
) |
(2.13 |
) | ||||||
2015(e) |
30.30 |
|
(0.03 |
) |
0.67 |
|
0.64 |
|
(0.07 |
) |
(4.58 |
) |
(4.65 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
During 2016, the Account
experienced a significant one-time gain of approximately $0.07/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. | |
(d) |
Reflects Manager's
contractual expense limit. |
(e) |
Period from May 1, 2015 date
operations commenced, through December 31, 2015. |
(f) |
Total return amounts have not
been annualized. |
(g) |
Computed on an annualized
basis. |
(h) |
Total return is calculated
using the traded net asset value which may differ from the reported net
asset value. |
The traded net asset value is
the net asset value which a shareholder would have paid or received from a
subscription or redemption. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | ||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment Income to
Average Net Assets |
Portfolio
Turnover
Rate | |||||||
|
$13.94 |
|
9.40
%(c) |
|
$85,677
|
|
1.40
%(d) |
|
1.07 |
% |
115.0 |
% |
12.88 |
|
(13.81 |
) |
85,434 |
|
1.37
|
|
1.18 |
|
97.3 |
| |
15.21 |
|
(3.75 |
) |
103,091 |
|
1.38
|
|
1.28 |
|
106.9 |
| |
15.94 |
|
(5.03 |
) |
113,305 |
|
1.39
|
|
1.19 |
|
118.2 |
| |
17.14 |
|
20.80 |
|
152,545 |
|
1.34
|
|
1.40 |
|
97.4 |
| |
13.89 |
|
9.13
(c) |
|
125 |
|
1.65
(d) |
|
0.90 |
|
115.0 |
| |
12.86 |
|
(21.81)(f) |
|
41 |
|
1.62
(g) |
|
0.90
(g) |
|
97.3
(g) |
| |
24.40 |
|
(5.13 |
) |
96,198 |
|
0.69 |
|
0.43 |
|
78.2 |
| |
25.79 |
|
4.98 |
|
118,385 |
|
0.69 |
|
0.23 |
|
47.1 |
| |
24.60 |
|
11.12 |
|
123,091 |
|
0.69 |
|
0.13 |
|
67.2 |
| |
22.26 |
|
33.91 |
|
100,140 |
|
0.69 |
|
0.37 |
|
70.1 |
| |
16.87 |
|
16.85 |
|
210,351 |
|
0.69 |
|
0.73 |
|
62.6 |
| |
24.29 |
|
(5.38 |
) |
923 |
|
0.94 |
|
0.17 |
|
78.2 |
| |
25.69 |
|
4.73 |
|
1,090 |
|
0.94 |
|
(0.01 |
) |
47.1 |
| |
24.53 |
|
10.85 |
|
661 |
|
0.94 |
|
(0.11 |
) |
67.2 |
| |
22.20 |
|
33.64
(h) |
|
712 |
|
0.94 |
|
0.10 |
|
70.1 |
| |
16.83 |
|
16.56
(h) |
|
604 |
|
0.94 |
|
0.47 |
|
62.6 |
| |
24.55 |
|
1.26 |
|
244,058 |
|
0.76
(d) |
|
0.04 |
|
36.8 |
| |
26.33 |
|
7.77 |
|
252,386 |
|
0.76
(d) |
|
0.07 |
|
38.6 |
| |
28.70 |
|
8.61 |
|
239,629 |
|
0.76
(d) |
|
0.11 |
|
38.9 |
| |
32.58 |
|
36.14 |
|
260,034 |
|
0.75
(d) |
|
0.12 |
|
36.9 |
| |
24.77 |
|
16.38 |
|
240,585 |
|
0.76
(d) |
|
0.42 |
|
36.9 |
| |
24.46 |
|
1.07 |
|
127 |
|
1.01
(d) |
|
(0.21 |
) |
36.8 |
| |
26.29 |
|
1.94
(f) |
|
501 |
|
1.01
(d),(g) |
|
(0.19)(g) |
|
38.6
(g) |
|
FINANCIAL
HIGHLIGHTS | |||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | |||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | |||||||||||||
LARGECAP
S&P 500 INDEX ACCOUNT |
|||||||||||||||||||
Class
1 shares |
|||||||||||||||||||
2016 |
$14.41 |
$0.29 |
|
$1.36 |
|
|
$1.65 |
|
|
($0.25 |
) |
|
($0.37 |
) |
|
($0.62 |
) | ||
2015 |
14.63 |
|
0.27 |
|
(0.09 |
) |
0.18 |
|
(0.22 |
) |
(0.18 |
) |
(0.40 |
) | |||||
2014 |
13.38 |
|
0.24 |
|
1.51 |
|
1.75 |
|
(0.18 |
) |
(0.32 |
) |
(0.50 |
) | |||||
2013 |
10.34 |
|
0.22 |
|
3.07 |
|
3.29 |
|
(0.15 |
) |
(0.10 |
) |
(0.25 |
) | |||||
2012 |
9.06 |
|
0.20 |
|
1.20 |
|
1.40 |
|
(0.11 |
) |
(0.01 |
) |
(0.12 |
) | |||||
Class
2 shares |
|||||||||||||||||||
2016 |
14.39 |
|
0.26 |
|
1.35 |
|
1.61 |
|
(0.25 |
) |
(0.37 |
) |
(0.62 |
) | |||||
2015(c) |
15.07 |
|
0.17 |
|
(0.45 |
) |
(0.28 |
) |
(0.22 |
) |
(0.18 |
) |
(0.40 |
) | |||||
LARGECAP
S&P 500 MANAGED VOLATILITY INDEX ACCOUNT |
|||||||||||||||||||
Class
1 shares |
|||||||||||||||||||
2016 |
11.27 |
|
0.19 |
|
0.96 |
|
1.15 |
|
(0.12 |
) |
(0.15 |
) |
(0.27 |
) | |||||
2015 |
11.22 |
|
0.16 |
|
(0.07 |
) |
0.09 |
|
– |
|
(0.04 |
) |
(0.04 |
) | |||||
2014 |
10.46 |
|
0.14 |
|
1.09 |
|
1.23 |
|
(0.08 |
) |
(0.39 |
) |
(0.47 |
) | |||||
2013(g) |
10.00 |
|
0.03 |
|
0.45 |
|
0.48 |
|
(0.02 |
) |
– |
|
(0.02 |
) | |||||
LARGECAP
VALUE ACCOUNT |
|||||||||||||||||||
Class
1 shares |
|||||||||||||||||||
2016 |
29.19 |
|
0.55 |
|
1.76 |
|
2.31 |
|
(0.56 |
) |
(0.91 |
) |
(1.47 |
) | |||||
2015 |
33.80 |
|
0.53 |
|
(0.80 |
) |
(0.27 |
) |
(0.53 |
) |
(3.81 |
) |
(4.34 |
) | |||||
2014 |
36.13 |
|
0.51 |
|
3.19 |
|
3.70 |
|
(0.80 |
) |
(5.23 |
) |
(6.03 |
) | |||||
2013 |
28.33 |
|
0.53 |
|
8.11 |
|
8.64 |
|
(0.84 |
) |
– |
|
(0.84 |
) | |||||
2012 |
24.20 |
|
0.56 |
|
3.92 |
|
4.48 |
|
(0.35 |
) |
– |
|
(0.35 |
) | |||||
Class
2 shares |
|||||||||||||||||||
2016 |
29.14 |
|
0.45 |
|
1.78 |
|
2.23 |
|
(0.53 |
) |
(0.91 |
) |
(1.44 |
) | |||||
2015(c) |
34.24 |
|
0.31 |
|
(1.07 |
) |
(0.76 |
) |
(0.53 |
) |
(3.81 |
) |
(4.34 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Period from May 1, 2015 date
operations commenced, through December 31, 2015. |
(d) |
Total return amounts have not
been annualized. |
(e) |
Computed on an annualized
basis. |
(f) |
Reflects Manager's
contractual expense limit. |
(g) |
Period from October 31, 2013
date operations commenced, through December 31,
2013. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment
Income to Average
Net Assets |
Portfolio
Turnover
Rate | ||||||||
|
$15.44 |
|
11.59 |
% |
|
$2,262,283 |
|
0.25
% |
|
1.96 |
% |
6.4
% |
|
14.41 |
|
1.14 |
|
2,033,459 |
|
0.25 |
|
1.82 |
|
6.3
|
| ||
14.63 |
|
13.29 |
|
1,863,035 |
|
0.25 |
|
1.74 |
|
2.8
|
| ||
13.38 |
|
32.04 |
|
1,490,352 |
|
0.25 |
|
1.81 |
|
7.4
|
| ||
10.34 |
|
15.50 |
|
916,593 |
|
0.26 |
|
2.02 |
|
3.3
|
| ||
15.38 |
|
11.30 |
|
766 |
|
0.50 |
|
1.74 |
|
6.4
|
| ||
14.39 |
|
(1.95)(d) |
|
161 |
|
0.50
(e) |
|
1.78
(e) |
|
6.3
(e) |
| ||
12.15 |
|
10.33 |
|
198,548 |
|
0.46
(f) |
|
1.63 |
|
4.8
|
| ||
11.27 |
|
0.83 |
|
161,654 |
|
0.47
(f) |
|
1.46 |
|
5.5 |
| ||
11.22 |
|
11.77 |
|
97,236 |
|
0.49
(f) |
|
1.29 |
|
24.6 |
| ||
10.46 |
|
4.85
(d) |
|
7,339 |
|
0.49
(e),(f) |
|
1.82
(e) |
|
74.7
(e) |
| ||
30.03 |
|
8.17 |
|
140,994 |
|
0.61 |
|
1.90 |
|
106.3 |
| ||
29.19 |
|
(1.09 |
) |
153,060 |
|
0.61 |
|
1.66 |
|
81.3 |
| ||
33.80 |
|
11.17 |
|
170,673 |
|
0.61 |
|
1.45 |
|
104.3 |
| ||
36.13 |
|
30.83 |
|
167,702 |
|
0.61 |
|
1.64 |
|
140.8 |
| ||
28.33 |
|
18.58 |
|
222,357 |
|
0.61 |
|
2.09 |
|
115.0 |
| ||
29.93 |
|
7.89 |
|
66 |
|
0.86
|
|
1.58 |
|
106.3 |
| ||
29.14 |
|
(2.52)(d) |
|
20 |
|
0.86
(e) |
|
1.56
(e) |
|
81.3
(e) |
|
FINANCIAL
HIGHLIGHTS | |||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | |||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | |||||||||||
MIDCAP
ACCOUNT |
|||||||||||||||||
Class
1 shares |
|||||||||||||||||
2016 |
$55.24 |
$0.33 |
$5.30 |
$5.63 |
|
($0.24 |
) |
|
($9.67 |
) |
|
($9.91 |
) | ||||
2015 |
60.79 |
|
0.22 |
|
1.19 |
|
1.41 |
|
(0.32 |
) |
(6.64 |
) |
(6.96 |
) | |||
2014 |
59.37 |
|
0.36 |
|
6.96 |
|
7.32 |
|
(0.32 |
) |
(5.58 |
) |
(5.90 |
) | |||
2013 |
47.20 |
|
0.28 |
|
15.31 |
|
15.59 |
|
(0.82 |
) |
(2.60 |
) |
(3.42 |
) | |||
2012 |
40.51 |
|
0.46 |
|
7.35 |
|
7.81 |
|
(0.40 |
) |
(0.72 |
) |
(1.12 |
) | |||
Class
2 shares |
|||||||||||||||||
2016 |
54.97 |
|
0.20 |
|
5.27 |
|
5.47 |
|
(0.08 |
) |
(9.67 |
) |
(9.75 |
) | |||
2015 |
60.54 |
|
0.07 |
|
1.17 |
|
1.24 |
|
(0.17 |
) |
(6.64 |
) |
(6.81 |
) | |||
2014 |
59.16 |
|
0.21 |
|
6.93 |
|
7.14 |
|
(0.18 |
) |
(5.58 |
) |
(5.76 |
) | |||
2013 |
47.06 |
|
0.15 |
|
15.25 |
|
15.40 |
|
(0.70 |
) |
(2.60 |
) |
(3.30 |
) | |||
2012 |
40.39 |
|
0.35 |
|
7.33 |
|
7.68 |
|
(0.29 |
) |
(0.72 |
) |
(1.01 |
) | |||
MULTI-ASSET
INCOME ACCOUNT |
|||||||||||||||||
Class
1 shares |
|||||||||||||||||
2016 |
9.72 |
|
0.66 |
|
0.11 |
|
0.77 |
|
(0.23 |
) |
(0.02 |
) |
(0.25 |
) | |||
2015(d) |
10.00 |
|
0.24 |
|
(0.52 |
) |
(0.28 |
) |
– |
|
– |
|
– |
| |||
Class
2 shares |
|||||||||||||||||
2016 |
9.71 |
|
0.46 |
|
0.28 |
|
0.74 |
|
(0.23 |
) |
(0.02 |
) |
(0.25 |
) | |||
2015(d) |
10.00 |
|
0.23 |
|
(0.52 |
) |
(0.29 |
) |
– |
|
– |
|
– |
|
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Reflects Manager's
contractual expense limit. |
(d) |
Period from July 28, 2015
date operations commenced, through December 31, 2015. |
(e) |
Total return amounts have not
been annualized. |
(f) |
Computed on an annualized
basis. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment
Income to Average
Net Assets |
Portfolio
Turnover
Rate | ||||||||
|
$50.96 |
|
10.37 |
% |
|
$576,634 |
|
0.54
% |
|
0.62 |
% |
13.6
% |
|
55.24 |
|
1.64 |
|
617,437 |
|
0.53 |
|
0.37 |
|
26.3
|
| ||
60.79 |
|
12.99 |
|
676,836 |
|
0.53 |
|
0.60 |
|
21.6
|
| ||
59.37 |
|
33.93 |
|
649,893 |
|
0.53 |
|
0.52 |
|
12.4
|
| ||
47.20 |
|
19.44 |
|
560,842 |
|
0.55 |
|
1.03 |
|
21.5
|
| ||
50.69 |
|
10.11 |
|
14,985 |
|
0.79 |
|
0.38 |
|
13.6
|
| ||
54.97 |
|
1.37 |
|
15,243 |
|
0.78 |
|
0.12 |
|
26.3
|
| ||
60.54 |
|
12.70 |
|
15,960 |
|
0.78 |
|
0.35 |
|
21.6 |
| ||
59.16 |
|
33.58 |
|
15,105 |
|
0.78 |
|
0.27 |
|
12.4 |
| ||
47.06 |
|
19.16 |
|
12,179 |
|
0.80 |
|
0.79 |
|
21.5 |
| ||
10.24 |
|
7.96 |
|
183 |
|
0.08
(c) |
|
6.46 |
|
61.0 |
| ||
9.72 |
|
(2.80)(e) |
|
10 |
|
0.08
(c),(f) |
|
5.67
(f) |
|
0.0
(f) |
| ||
10.20 |
|
7.65
|
|
10 |
|
0.33
(c) |
|
4.57 |
|
61.0 |
| ||
9.71 |
|
(2.90)(e) |
|
10 |
|
0.33
(c),(f) |
|
5.41
(f) |
|
0.0
(f) |
|
FINANCIAL
HIGHLIGHTS | |||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | |||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | |||||||||||
PRINCIPAL
CAPITAL APPRECIATION ACCOUNT |
|||||||||||||||||
Class
1 shares |
|||||||||||||||||
2016 |
$22.35 |
$0.30 |
$1.73 |
2.03 |
|
|
($0.26 |
) |
|
($0.18 |
) |
|
($0.44 |
) | |||
2015 |
22.31 |
|
0.30 |
|
0.20 |
|
0.50 |
|
(0.06 |
) |
(0.40 |
) |
(0.46 |
) | |||
2014 |
24.45 |
|
0.24 |
|
2.52 |
|
2.76 |
|
(0.81 |
) |
(4.09 |
) |
(4.90 |
) | |||
2013 |
23.75 |
|
0.30 |
|
6.63 |
|
6.93 |
|
(1.86 |
) |
(4.37 |
) |
(6.23 |
) | |||
2012 |
21.36 |
|
0.35 |
|
2.58 |
|
2.93 |
|
(0.26 |
) |
(0.28 |
) |
(0.54 |
) | |||
Class
2 shares |
|||||||||||||||||
2016 |
22.14 |
|
0.24 |
|
1.72 |
|
1.96 |
|
(0.21 |
) |
(0.18 |
) |
(0.39 |
) | |||
2015 |
22.11 |
|
0.23 |
|
0.21 |
|
0.44 |
|
(0.01 |
) |
(0.40 |
) |
(0.41 |
) | |||
2014 |
24.27 |
|
0.18 |
|
2.50 |
|
2.68 |
|
(0.75 |
) |
(4.09 |
) |
(4.84 |
) | |||
2013 |
23.62 |
|
0.21 |
|
6.60 |
|
6.81 |
|
(1.79 |
) |
(4.37 |
) |
(6.16 |
) | |||
2012 |
21.23 |
|
0.29 |
|
2.58 |
|
2.87 |
|
(0.20 |
) |
(0.28 |
) |
(0.48 |
) | |||
PRINCIPAL
LIFETIME 2010 ACCOUNT |
|||||||||||||||||
Class
1 shares |
|||||||||||||||||
2016 |
12.18 |
|
0.27 |
|
0.37 |
|
0.64 |
|
(0.27 |
) |
(0.07 |
) |
(0.34 |
) | |||
2015 |
12.60 |
|
0.25 |
|
(0.39 |
) |
(0.14 |
) |
(0.28 |
) |
– |
|
(0.28 |
) | |||
2014 |
12.29 |
|
0.25 |
|
0.34 |
|
0.59 |
|
(0.28 |
) |
– |
|
(0.28 |
) | |||
2013 |
11.36 |
|
0.27 |
|
0.94 |
|
1.21 |
|
(0.28 |
) |
– |
|
(0.28 |
) | |||
2012 |
10.36 |
|
0.26 |
|
0.95 |
|
1.21 |
|
(0.21 |
) |
– |
|
(0.21 |
) | |||
PRINCIPAL
LIFETIME 2020 ACCOUNT |
|||||||||||||||||
Class
1 shares |
|||||||||||||||||
2016 |
12.64 |
|
0.26 |
|
0.47 |
|
0.73 |
|
(0.25 |
) |
(0.46 |
) |
(0.71 |
) | |||
2015 |
13.77 |
|
0.24 |
|
(0.37 |
) |
(0.13 |
) |
(0.36 |
) |
(0.64 |
) |
(1.00 |
) | |||
2014 |
13.62 |
|
0.33 |
|
0.44 |
|
0.77 |
|
(0.33 |
) |
(0.29 |
) |
(0.62 |
) | |||
2013 |
12.00 |
|
0.30 |
|
1.59 |
|
1.89 |
|
(0.27 |
) |
– |
|
(0.27 |
) | |||
2012 |
10.64 |
|
0.26 |
|
1.30 |
|
1.56 |
|
(0.20 |
) |
– |
|
(0.20 |
) | |||
Class
2 shares |
|||||||||||||||||
2016 |
12.61 |
|
0.23 |
|
0.48 |
|
0.71 |
|
(0.24 |
) |
(0.46 |
) |
(0.70 |
) | |||
2015(e) |
14.26 |
|
0.27 |
|
(0.92 |
) |
(0.65 |
) |
(0.36 |
) |
(0.64 |
) |
(1.00 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Portfolio turnover rate
excludes approximately $1,237,000 of purchases from portfolio realignment
from the acquisition of LargeCap Blend Account II. |
(d) |
Does not include expenses of
the investment companies in which the Account invests. |
(e) |
Period from May 1, 2015 date
operations commenced, through December 31, 2015. |
(f) |
Total return amounts have not
been annualized. |
(g) |
Computed on an annualized
basis. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment
Income to Average
Net Assets |
Portfolio
Turnover
Rate | ||||||||
|
$23.94 |
|
9.11 |
% |
|
$147,193 |
|
0.63
% |
|
1.31 |
% |
33.7
% |
|
22.35 |
|
2.18 |
|
154,732 |
|
0.64 |
|
1.33 |
|
22.1
(c) |
| ||
22.31 |
|
12.45 |
|
33,190 |
|
0.66 |
|
1.02 |
|
8.6
|
| ||
24.45 |
|
32.65 |
|
32,077 |
|
0.65 |
|
1.18 |
|
6.7
|
| ||
23.75 |
|
13.83 |
|
145,393 |
|
0.64 |
|
1.51 |
|
6.2
|
| ||
23.71 |
|
8.85 |
|
7,420 |
|
0.88 |
|
1.06 |
|
33.7
|
| ||
22.14 |
|
1.94 |
|
7,517 |
|
0.89 |
|
1.05 |
|
22.1
(c) |
| ||
22.11 |
|
12.19 |
|
6,891 |
|
0.91 |
|
0.77 |
|
8.6 |
| ||
24.27 |
|
32.27 |
|
6,362 |
|
0.90 |
|
0.85 |
|
6.7 |
| ||
23.62 |
|
13.57 |
|
5,238 |
|
0.89 |
|
1.26 |
|
6.2
|
| ||
12.48 |
|
5.25 |
|
42,641 |
|
0.02
(d) |
|
2.16 |
|
28.9
|
| ||
12.18 |
|
(1.17 |
) |
41,132 |
|
0.04
(d) |
|
2.00 |
|
24.6
|
| ||
12.60 |
|
4.81 |
|
47,312 |
|
0.04
(d) |
|
2.02 |
|
41.3 |
| ||
12.29 |
|
10.81 |
|
48,775 |
|
0.04
(d) |
|
2.25 |
|
36.5 |
| ||
11.36 |
|
11.79 |
|
47,361 |
|
0.06
(d) |
|
2.39 |
|
28.3
|
| ||
12.66 |
|
5.76 |
|
186,646 |
|
0.01
(d) |
|
2.03 |
|
17.7
|
| ||
12.64 |
|
(1.13 |
) |
190,987 |
|
0.03
(d) |
|
1.79 |
|
27.6
|
| ||
13.77 |
|
5.75 |
|
211,470 |
|
0.03
(d) |
|
2.40 |
|
31.9 |
| ||
13.62 |
|
15.97 |
|
227,985 |
|
0.03
(d) |
|
2.35 |
|
49.6 |
| ||
12.00 |
|
14.76 |
|
208,355 |
|
0.04
(d) |
|
2.28 |
|
24.4 |
| ||
12.62 |
|
5.56 |
|
26 |
|
0.26
(d) |
|
1.83 |
|
17.7 |
| ||
12.61 |
|
(4.74)(f) |
|
25 |
|
0.28
(d),(g) |
|
3.11
(g) |
|
27.6
(g) |
|
FINANCIAL
HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | ||||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | ||||||||||||||
PRINCIPAL
LIFETIME 2030 ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
|
$11.45 |
|
|
$0.22 |
|
|
$0.45 |
|
|
$0.67 |
|
|
($0.19 |
) |
($0.48) |
|
|
($0.67 |
) |
2015 |
12.34 |
|
0.20 |
|
(0.30 |
) |
(0.10 |
) |
(0.32 |
) |
(0.47 |
) |
(0.79 |
) | ||||||
2014 |
14.05 |
|
0.36 |
|
0.45 |
|
0.81 |
|
(0.31 |
) |
(2.21 |
) |
(2.52 |
) | ||||||
2013 |
12.10 |
|
0.32 |
|
1.95 |
|
2.27 |
|
(0.25 |
) |
(0.07 |
) |
(0.32 |
) | ||||||
2012 |
10.64 |
|
0.25 |
|
1.40 |
|
1.65 |
|
(0.19 |
) |
– |
|
(0.19 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
11.43 |
|
0.27 |
|
0.37 |
|
0.64 |
|
(0.19 |
) |
(0.48 |
) |
(0.67 |
) | ||||||
2015(d) |
12.85 |
|
0.25 |
|
(0.88 |
) |
(0.63 |
) |
(0.32 |
) |
(0.47 |
) |
(0.79 |
) | ||||||
PRINCIPAL
LIFETIME 2040 ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
13.53 |
|
0.22 |
|
0.51 |
|
0.73 |
|
(0.20 |
) |
(0.54 |
) |
(0.74 |
) | ||||||
2015 |
14.50 |
|
0.22 |
|
(0.31 |
) |
(0.09 |
) |
(0.36 |
) |
(0.52 |
) |
(0.88 |
) | ||||||
2014 |
14.94 |
|
0.42 |
|
0.49 |
|
0.91 |
|
(0.31 |
) |
(1.04 |
) |
(1.35 |
) | ||||||
2013 |
12.39 |
|
0.35 |
|
2.41 |
|
2.76 |
|
(0.21 |
) |
– |
|
(0.21 |
) | ||||||
2012 |
10.78 |
|
0.23 |
|
1.56 |
|
1.79 |
|
(0.18 |
) |
– |
|
(0.18 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
13.51 |
|
0.45 |
|
0.24 |
|
0.69 |
|
(0.19 |
) |
(0.54 |
) |
(0.73 |
) | ||||||
2015(d) |
15.14 |
|
0.18 |
|
(0.93 |
) |
(0.75 |
) |
(0.36 |
) |
(0.52 |
) |
(0.88 |
) | ||||||
PRINCIPAL
LIFETIME 2050 ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
13.07 |
|
0.21 |
|
0.52 |
|
0.73 |
|
(0.18 |
) |
(0.56 |
) |
(0.74 |
) | ||||||
2015 |
14.18 |
|
0.20 |
|
(0.26 |
) |
(0.06 |
) |
(0.38 |
) |
(0.67 |
) |
(1.05 |
) | ||||||
2014 |
14.96 |
|
0.40 |
|
0.50 |
|
0.90 |
|
(0.34 |
) |
(1.34 |
) |
(1.68 |
) | ||||||
2013 |
12.28 |
|
0.34 |
|
2.55 |
|
2.89 |
|
(0.21 |
) |
– |
|
(0.21 |
) | ||||||
2012 |
10.64 |
|
0.24 |
|
1.57 |
|
1.81 |
|
(0.17 |
) |
– |
|
(0.17 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
13.05 |
|
0.31 |
|
0.37 |
|
0.68 |
|
(0.16 |
) |
(0.56 |
) |
(0.72 |
) | ||||||
2015(d) |
14.84 |
|
0.18 |
|
(0.92 |
) |
(0.74 |
) |
(0.38 |
) |
(0.67 |
) |
(1.05 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Does not include expenses of
the investment companies in which the Account invests. |
(d) |
Period from May 1, 2015 date
operations commenced, through December 31, 2015. |
(e) |
Total return amounts have not
been annualized. |
(f) |
Computed on an annualized
basis. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | ||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment
Income to Average
Net Assets |
Portfolio
Turnover
Rate | |||||||
|
$11.45 |
|
5.87
% |
|
|
$123,825 |
|
0.01
%(c) |
1.89
% |
|
22.4
% |
|
11.45 |
|
(1.05 |
) |
116,691 |
|
0.04
(c) |
1.67 |
|
31.3 |
| ||
12.34 |
|
6.06 |
|
116,965 |
|
0.04
(c) |
2.67 |
|
23.9 |
| ||
14.05 |
|
18.96 |
|
108,794 |
|
0.04
(c) |
2.43 |
|
58.6 |
| ||
12.10 |
|
15.58 |
|
92,672 |
|
0.05
(c) |
2.20 |
|
18.5 |
| ||
11.40 |
|
5.56 |
|
92 |
|
0.26
(c) |
2.37 |
|
22.4 |
| ||
11.43 |
|
(5.14)(e) |
|
26 |
|
0.29
(c),(f) |
3.22
(f) |
|
31.3
(f) |
| ||
13.52 |
|
5.45 |
|
49,980 |
|
0.02
(c) |
1.68 |
|
30.4 |
| ||
13.53 |
|
(0.85 |
) |
45,261 |
|
0.04
(c) |
1.52 |
|
24.2 |
| ||
14.50 |
|
6.21 |
|
42,304 |
|
0.05
(c) |
2.83 |
|
21.1 |
| ||
14.94 |
|
22.42 |
|
36,934 |
|
0.05
(c) |
2.55 |
|
67.2 |
| ||
12.39 |
|
16.71 |
|
25,647 |
|
0.08
(c) |
1.98 |
|
30.1 |
| ||
13.47 |
|
5.16 |
|
131 |
|
0.27
(c) |
3.34 |
|
30.4 |
| ||
13.51 |
|
(5.18)(e) |
|
10 |
|
0.29
(c),(f) |
1.97
(f) |
|
24.2
(f) |
| ||
13.06 |
|
5.58 |
|
26,674 |
|
0.03
(c) |
1.64 |
|
33.1 |
| ||
13.07 |
|
(0.69 |
) |
23,502 |
|
0.05
(c) |
1.46 |
|
26.6 |
| ||
14.18 |
|
6.21 |
|
21,796 |
|
0.06
(c) |
2.70 |
|
28.5 |
| ||
14.96 |
|
23.72 |
|
22,002 |
|
0.06
(c) |
2.48 |
|
68.0 |
| ||
12.28 |
|
17.07 |
|
16,352 |
|
0.11
(c) |
2.01 |
|
17.7 |
| ||
13.01 |
|
5.24 |
|
94 |
|
0.28
(c) |
2.39 |
|
33.1 |
| ||
13.05 |
|
(5.25)(e) |
|
35 |
|
0.30
(c),(f) |
2.03
(f) |
|
26.6
(f) |
|
FINANCIAL
HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | ||||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | ||||||||||||||
PRINCIPAL
LIFETIME 2060 ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
|
$11.75 |
|
|
$0.18 |
|
|
$0.46 |
|
|
$0.64 |
|
|
($0.13 |
) |
($0.38) |
|
|
($0.51 |
) |
2015 |
12.19 |
|
0.20 |
|
(0.28 |
) |
(0.08 |
) |
(0.15 |
) |
(0.21 |
) |
(0.36 |
) | ||||||
2014 |
11.58 |
|
0.39 |
|
0.25 |
|
0.64 |
|
(0.01 |
) |
(0.02 |
) |
(0.03 |
) | ||||||
2013(e) |
10.00 |
|
0.38 |
|
1.20 |
|
1.58 |
|
– |
|
– |
|
– |
| ||||||
PRINCIPAL
LIFETIME STRATEGIC INCOME ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
11.15 |
|
0.26 |
|
0.27 |
|
0.53 |
|
(0.28 |
) |
– |
|
(0.28 |
) | ||||||
2015 |
11.51 |
|
0.25 |
|
(0.35 |
) |
(0.10 |
) |
(0.26 |
) |
– |
|
(0.26 |
) | ||||||
2014 |
11.29 |
|
0.23 |
|
0.29 |
|
0.52 |
|
(0.30 |
) |
– |
|
(0.30 |
) | ||||||
2013 |
11.04 |
|
0.26 |
|
0.29 |
|
0.55 |
|
(0.30 |
) |
– |
|
(0.30 |
) | ||||||
2012 |
10.25 |
|
0.30 |
|
0.68 |
|
0.98 |
|
(0.19 |
) |
– |
|
(0.19 |
) | ||||||
REAL
ESTATE SECURITIES ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
2016 |
22.20 |
|
0.31 |
|
1.09 |
|
1.40 |
|
(0.32 |
) |
(1.98 |
) |
(2.30 |
) | ||||||
2015 |
22.33 |
|
0.34 |
|
0.57 |
|
0.91 |
|
(0.34 |
) |
(0.70 |
) |
(1.04 |
) | ||||||
2014 |
17.08 |
|
0.29 |
|
5.28 |
|
5.57 |
|
(0.32 |
) |
– |
|
(0.32 |
) | ||||||
2013 |
16.63 |
|
0.35 |
|
0.33 |
|
0.68 |
|
(0.23 |
) |
– |
|
(0.23 |
) | ||||||
2012 |
14.39 |
|
0.21 |
|
2.26 |
|
2.47 |
|
(0.23 |
) |
– |
|
(0.23 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2016 |
22.29 |
|
0.28 |
|
1.06 |
|
1.34 |
|
(0.29 |
) |
(1.98 |
) |
(2.27 |
) | ||||||
2015 |
22.45 |
|
0.34 |
|
0.53 |
|
0.87 |
|
(0.33 |
) |
(0.70 |
) |
(1.03 |
) | ||||||
2014 |
17.18 |
|
0.27 |
|
5.27 |
|
5.54 |
|
(0.27 |
) |
– |
|
(0.27 |
) | ||||||
2013 |
16.72 |
|
0.30 |
|
0.34 |
|
0.64 |
|
(0.18 |
) |
– |
|
(0.18 |
) | ||||||
2012 |
14.46 |
|
0.17 |
|
2.26 |
|
2.43 |
|
(0.17 |
) |
– |
|
(0.17 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Reflects Manager's
contractual expense limit. |
(d) |
Does not include expenses of
the investment companies in which the Account invests. |
(e) |
Period from May 1, 2013 date
operations commenced, through December 31, 2013. |
(f) |
Total return amounts have not
been annualized. |
(g) |
Computed on an annualized
basis. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment
Income to Average
Net Assets |
Portfolio
Turnover
Rate | ||||||
|
$11.88 |
|
5.52
% |
|
$2,644 |
0.10
%(c),(d) |
1.55
% |
|
43.1
% |
| |
11.75 |
|
(0.75 |
) |
2,097 |
|
0.13
(c),(d) |
1.65 |
|
30.3 |
| |
12.19 |
|
5.58 |
|
825 |
|
0.13
(c),(d) |
3.28 |
|
43.2 |
| |
11.58 |
|
15.80
(f) |
|
28 |
|
0.13
(c),(d),(g) |
5.31
(g) |
|
79.4
(g) |
| |
11.40 |
|
4.77 |
|
24,741 |
|
0.03
(d) |
2.29 |
|
28.5 |
| |
11.15 |
|
(0.95 |
) |
24,452 |
|
0.05
(d) |
2.21 |
|
24.4 |
| |
11.51 |
|
4.57 |
|
30,016 |
|
0.05
(d) |
2.01 |
|
39.8 |
| |
11.29 |
|
5.11 |
|
31,164 |
|
0.05
(d) |
2.35 |
|
25.1 |
| |
11.04 |
|
9.65 |
|
32,756 |
|
0.07
(d) |
2.79 |
|
34.0 |
| |
21.30 |
|
5.85 |
|
158,760 |
|
0.89
|
1.38 |
|
31.3 |
| |
22.20 |
|
4.21 |
|
159,292 |
|
0.89
|
1.54 |
|
22.8 |
| |
22.33 |
|
32.82 |
|
166,701 |
|
0.89
|
1.48 |
|
15.7 |
| |
17.08 |
|
4.10 |
|
128,601 |
|
0.89
|
1.96 |
|
22.1 |
| |
16.63 |
|
17.17 |
|
133,069 |
|
0.90
|
1.33 |
|
44.1 |
| |
21.36 |
|
5.53 |
|
4,215 |
|
1.14
|
1.26 |
|
31.3 |
| |
22.29 |
|
4.00 |
|
1,994 |
|
1.14
|
1.56 |
|
22.8 |
| |
22.45 |
|
32.44 |
|
492 |
|
1.14
|
1.37 |
|
15.7 |
| |
17.18 |
|
3.87 |
|
271 |
|
1.14
|
1.72 |
|
22.1 |
| |
16.72 |
|
16.86 |
|
257 |
|
1.15
|
1.08 |
|
44.1 |
|
FINANCIAL
HIGHLIGHTS | |||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | |||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | |||||||||||||
SAM
BALANCED PORTFOLIO |
|||||||||||||||||||
Class
1 shares |
|||||||||||||||||||
2016 |
$14.69 |
$0.30 |
|
$0.70 |
|
|
$1.00 |
|
|
($0.32 |
) |
|
($0.93 |
) |
|
($1.25 |
) | ||
2015 |
16.51 |
|
0.30 |
|
(0.38 |
) |
(0.08 |
) |
(0.49 |
) |
(1.25 |
) |
(1.74 |
) | |||||
2014 |
18.53 |
|
0.47 |
|
0.73 |
|
1.20 |
|
(0.52 |
) |
(2.70 |
) |
(3.22 |
) | |||||
2013 |
16.33 |
|
0.47 |
|
2.37 |
|
2.84 |
|
(0.43 |
) |
(0.21 |
) |
(0.64 |
) | |||||
2012 |
14.76 |
|
0.41 |
|
1.46 |
|
1.87 |
|
(0.11 |
) |
(0.19 |
) |
(0.30 |
) | |||||
Class
2 shares |
|||||||||||||||||||
2016 |
14.55 |
|
0.27 |
|
0.69 |
|
0.96 |
|
(0.28 |
) |
(0.93 |
) |
(1.21 |
) | |||||
2015 |
16.37 |
|
0.26 |
|
(0.38 |
) |
(0.12 |
) |
(0.45 |
) |
(1.25 |
) |
(1.70 |
) | |||||
2014 |
18.39 |
|
0.43 |
|
0.73 |
|
1.16 |
|
(0.48 |
) |
(2.70 |
) |
(3.18 |
) | |||||
2013 |
16.22 |
|
0.41 |
|
2.35 |
|
2.76 |
|
(0.38 |
) |
(0.21 |
) |
(0.59 |
) | |||||
2012 |
14.66 |
|
0.36 |
|
1.46 |
|
1.82 |
|
(0.07 |
) |
(0.19 |
) |
(0.26 |
) | |||||
SAM
CONSERVATIVE BALANCED PORTFOLIO |
|||||||||||||||||||
Class
1 shares |
|||||||||||||||||||
2016 |
11.52 |
|
0.31 |
|
0.42 |
|
0.73 |
|
(0.30 |
) |
(0.45 |
) |
(0.75 |
) | |||||
2015 |
12.60 |
|
0.29 |
|
(0.36 |
) |
(0.07 |
) |
(0.41 |
) |
(0.60 |
) |
(1.01 |
) | |||||
2014 |
13.39 |
|
0.41 |
|
0.40 |
|
0.81 |
|
(0.42 |
) |
(1.18 |
) |
(1.60 |
) | |||||
2013 |
12.49 |
|
0.40 |
|
1.00 |
|
1.40 |
|
(0.37 |
) |
(0.13 |
) |
(0.50 |
) | |||||
2012 |
11.47 |
|
0.37 |
|
0.90 |
|
1.27 |
|
(0.10 |
) |
(0.15 |
) |
(0.25 |
) | |||||
Class
2 shares |
|||||||||||||||||||
2016 |
11.41 |
|
0.27 |
|
0.42 |
|
0.69 |
|
(0.27 |
) |
(0.45 |
) |
(0.72 |
) | |||||
2015 |
12.48 |
|
0.27 |
|
(0.36 |
) |
(0.09 |
) |
(0.38 |
) |
(0.60 |
) |
(0.98 |
) | |||||
2014 |
13.28 |
|
0.38 |
|
0.38 |
|
0.76 |
|
(0.38 |
) |
(1.18 |
) |
(1.56 |
) | |||||
2013 |
12.39 |
|
0.36 |
|
1.00 |
|
1.36 |
|
(0.34 |
) |
(0.13 |
) |
(0.47 |
) | |||||
2012 |
11.38 |
|
0.33 |
|
0.90 |
|
1.23 |
|
(0.07 |
) |
(0.15 |
) |
(0.22 |
) | |||||
SAM
CONSERVATIVE GROWTH PORTFOLIO |
|||||||||||||||||||
Class
1 shares |
|||||||||||||||||||
2016 |
17.22 |
|
0.30 |
|
0.90 |
|
1.20 |
|
(0.26 |
) |
(0.94 |
) |
(1.20 |
) | |||||
2015 |
19.02 |
|
0.26 |
|
(0.41 |
) |
(0.15 |
) |
(0.43 |
) |
(1.22 |
) |
(1.65 |
) | |||||
2014 |
20.60 |
|
0.48 |
|
0.97 |
|
1.45 |
|
(0.39 |
) |
(2.64 |
) |
(3.03 |
) | |||||
2013 |
17.04 |
|
0.40 |
|
3.50 |
|
3.90 |
|
(0.34 |
) |
– |
|
(0.34 |
) | |||||
2012 |
14.99 |
|
0.33 |
|
1.79 |
|
2.12 |
|
(0.07 |
) |
– |
|
(0.07 |
) | |||||
Class
2 shares |
|||||||||||||||||||
2016 |
17.02 |
|
0.25 |
|
0.89 |
|
1.14 |
|
(0.21 |
) |
(0.94 |
) |
(1.15 |
) | |||||
2015 |
18.82 |
|
0.21 |
|
(0.40 |
) |
(0.19 |
) |
(0.39 |
) |
(1.22 |
) |
(1.61 |
) | |||||
2014 |
20.42 |
|
0.42 |
|
0.97 |
|
1.39 |
|
(0.35 |
) |
(2.64 |
) |
(2.99 |
) | |||||
2013 |
16.89 |
|
0.34 |
|
3.49 |
|
3.83 |
|
(0.30 |
) |
– |
|
(0.30 |
) | |||||
2012 |
14.87 |
|
0.28 |
|
1.77 |
|
2.05 |
|
(0.03 |
) |
– |
|
(0.03 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Does not include expenses of
the investment companies in which the Portfolio
invests. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | ||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment
Income to Average
Net Assets |
Portfolio
Turnover
Rate | |||||||
|
$14.44 |
|
6.82
% |
|
|
$672,562 |
|
0.23
%(c) |
2.07
% |
|
16.5
% |
|
14.69 |
|
(0.81 |
) |
732,937 |
|
0.23
(c) |
1.88 |
|
26.1 |
| ||
16.51 |
|
6.82 |
|
826,908 |
|
0.23
(c) |
2.64 |
|
16.4 |
| ||
18.53 |
|
17.68 |
|
913,823 |
|
0.23
(c) |
2.68 |
|
46.7 |
| ||
16.33 |
|
12.75 |
|
812,380 |
|
0.23
(c) |
2.60 |
|
9.1 |
| ||
14.30 |
|
6.62 |
|
97,047 |
|
0.48
(c) |
1.88 |
|
16.5 |
| ||
14.55 |
|
(1.08 |
) |
96,511 |
|
0.48
(c) |
1.66 |
|
26.1 |
| ||
16.37 |
|
6.59 |
|
99,852 |
|
0.48
(c) |
2.44 |
|
16.4 |
| ||
18.39 |
|
17.32 |
|
102,716 |
|
0.48
(c) |
2.37 |
|
46.7 |
| ||
16.22 |
|
12.47 |
|
95,208 |
|
0.48
(c) |
2.32 |
|
9.1 |
| ||
11.50 |
|
6.37 |
|
183,830 |
|
0.23
(c) |
2.64 |
|
19.8 |
| ||
11.52 |
|
(0.78 |
) |
193,585 |
|
0.23
(c) |
2.38 |
|
28.2 |
| ||
12.60 |
|
6.22 |
|
206,621 |
|
0.23
(c) |
3.10 |
|
21.2 |
| ||
13.39 |
|
11.53 |
|
212,247 |
|
0.23
(c) |
3.10 |
|
35.6 |
| ||
12.49 |
|
11.19 |
|
190,310 |
|
0.24
(c) |
3.07 |
|
15.7 |
| ||
11.38 |
|
6.08 |
|
17,477 |
|
0.48
(c) |
2.39 |
|
19.8 |
| ||
11.41 |
|
(0.93 |
) |
17,774 |
|
0.48
(c) |
2.19 |
|
28.2 |
| ||
12.48 |
|
5.92 |
|
16,731 |
|
0.48
(c) |
2.87 |
|
21.2 |
| ||
13.28 |
|
11.25 |
|
16,140 |
|
0.48
(c) |
2.77 |
|
35.6 |
| ||
12.39 |
|
10.91 |
|
15,911 |
|
0.49
(c) |
2.73 |
|
15.7 |
| ||
17.22 |
|
7.00 |
|
194,284 |
|
0.23
(c) |
1.73 |
|
25.5 |
| ||
17.22 |
|
(1.09 |
) |
193,966 |
|
0.23
(c) |
1.40 |
|
29.1 |
| ||
19.02 |
|
7.43 |
|
198,465 |
|
0.23
(c) |
2.40 |
|
19.4 |
| ||
20.60 |
|
23.07 |
|
179,850 |
|
0.23
(c) |
2.10 |
|
48.5 |
| ||
17.04 |
|
14.18 |
|
143,547 |
|
0.24
(c) |
2.00 |
|
12.5 |
| ||
17.01 |
|
6.76 |
|
108,247 |
|
0.48
(c) |
1.49 |
|
25.5 |
| ||
17.02 |
|
(1.34 |
) |
103,771 |
|
0.48
(c) |
1.17 |
|
29.1 |
| ||
18.82 |
|
7.14 |
|
102,757 |
|
0.48
(c) |
2.11 |
|
19.4 |
| ||
20.42 |
|
22.82 |
|
99,013 |
|
0.48
(c) |
1.82 |
|
48.5 |
| ||
16.89 |
|
13.81 |
|
84,306 |
|
0.49
(c) |
1.76 |
|
12.5 |
|
FINANCIAL
HIGHLIGHTS | ||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | ||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | ||||||||||
SAM
FLEXIBLE INCOME PORTFOLIO |
||||||||||||||||
Class
1 shares |
||||||||||||||||
2016 |
|
$12.27 |
|
|
$0.42 |
|
$0.44 |
$0.86 |
($0.43) |
($0.25) |
($0.68) | |||||
2015 |
13.22 |
|
0.40 |
|
(0.56 |
) |
(0.16 |
) |
(0.47 |
) |
(0.32 |
) |
(0.79 |
) | ||
2014 |
13.72 |
|
0.49 |
|
0.33 |
|
0.82 |
|
(0.52 |
) |
(0.80 |
) |
(1.32 |
) | ||
2013 |
13.38 |
|
0.49 |
|
0.51 |
|
1.00 |
|
(0.48 |
) |
(0.18 |
) |
(0.66 |
) | ||
2012 |
12.42 |
|
0.48 |
|
0.83 |
|
1.31 |
|
(0.15 |
) |
(0.20 |
) |
(0.35 |
) | ||
Class
2 shares |
||||||||||||||||
2016 |
12.17 |
|
0.38 |
|
0.44 |
|
0.82 |
|
(0.40 |
) |
(0.25) |
|
(0.65 |
) | ||
2015 |
13.12 |
|
0.37 |
|
(0.56 |
) |
(0.19 |
) |
(0.44 |
) |
(0.32 |
) |
(0.76 |
) | ||
2014 |
13.62 |
|
0.45 |
|
0.33 |
|
0.78 |
|
(0.48 |
) |
(0.80 |
) |
(1.28 |
) | ||
2013 |
13.29 |
|
0.46 |
|
0.50 |
|
0.96 |
|
(0.45 |
) |
(0.18 |
) |
(0.63 |
) | ||
2012 |
12.34 |
|
0.44 |
|
0.83 |
|
1.27 |
|
(0.12 |
) |
(0.20 |
) |
(0.32 |
) | ||
SAM
STRATEGIC GROWTH PORTFOLIO |
||||||||||||||||
Class
1 shares |
||||||||||||||||
2016 |
18.70 |
|
0.30 |
|
0.85 |
|
1.15 |
|
(0.28 |
) |
(1.03 |
) |
(1.31 |
) | ||
2015 |
21.00 |
|
0.29 |
|
(0.56 |
) |
(0.27 |
) |
(0.47 |
) |
(1.56 |
) |
(2.03 |
) | ||
2014 |
23.55 |
|
0.56 |
|
1.33 |
|
1.89 |
|
(0.38 |
) |
(4.06 |
) |
(4.44 |
) | ||
2013 |
18.74 |
|
0.40 |
|
4.70 |
|
5.10 |
|
(0.29 |
) |
– |
|
(0.29 |
) | ||
2012 |
16.26 |
|
0.29 |
|
2.23 |
|
2.52 |
|
(0.04 |
) |
– |
|
(0.04 |
) | ||
Class
2 shares |
||||||||||||||||
2016 |
18.50 |
|
0.26 |
|
0.83 |
|
1.09 |
|
(0.23 |
) |
(1.03 |
) |
(1.26 |
) | ||
2015 |
20.80 |
|
0.24 |
|
(0.55 |
) |
(0.31 |
) |
(0.43 |
) |
(1.56 |
) |
(1.99 |
) | ||
2014 |
23.38 |
|
0.49 |
|
1.32 |
|
1.81 |
|
(0.33 |
) |
(4.06 |
) |
(4.39 |
) | ||
2013 |
18.61 |
|
0.33 |
|
4.68 |
|
5.01 |
|
(0.24 |
) |
– |
|
(0.24 |
) | ||
2012 |
16.15 |
|
0.24 |
|
2.22 |
|
2.46 |
|
– |
|
– |
|
– |
| ||
SHORT-TERM
INCOME ACCOUNT |
||||||||||||||||
Class
1 shares |
||||||||||||||||
2016 |
2.54 |
|
0.05 |
|
– |
|
0.05 |
|
(0.05 |
) |
– |
|
(0.05 |
) | ||
2015 |
2.59 |
|
0.04 |
|
(0.02 |
) |
0.02 |
|
(0.07 |
) |
– |
|
(0.07 |
) | ||
2014 |
2.59 |
|
0.05 |
|
(0.01 |
) |
0.04 |
|
(0.04 |
) |
– |
|
(0.04 |
) | ||
2013 |
2.61 |
|
0.04 |
|
(0.01 |
) |
0.03 |
|
(0.05 |
) |
– |
|
(0.05 |
) | ||
2012 |
2.54 |
|
0.05 |
|
0.08 |
|
0.13 |
|
(0.06 |
) |
– |
|
(0.06 |
) | ||
Class
2 shares |
||||||||||||||||
2016 |
2.53 |
|
0.04 |
|
0.01 |
|
0.05 |
|
(0.05 |
) |
– |
|
(0.05 |
) | ||
2015 |
2.58 |
|
0.04 |
|
(0.02 |
) |
0.02 |
|
(0.07 |
) |
– |
|
(0.07 |
) | ||
2014 |
2.59 |
|
0.04 |
|
(0.01 |
) |
0.03 |
|
(0.04 |
) |
– |
|
(0.04 |
) | ||
2013 |
2.60 |
|
0.04 |
|
(0.01 |
) |
0.03 |
|
(0.04 |
) |
– |
|
(0.04 |
) | ||
2012 |
2.53 |
|
0.04 |
|
0.08 |
|
0.12 |
|
(0.05 |
) |
– |
|
(0.05 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Does not include expenses of
the investment companies in which the Portfolio
invests. |
(d) |
Reflects Manager's
contractual expense limit. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | ||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | ||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment
Income to Average
Net Assets |
Portfolio
Turnover
Rate | |||||||
|
$12.45 |
|
7.04
|
|
|
$196,393 |
|
0.23
(c) |
3.32
|
|
17.1
|
|
12.27 |
|
(1.31 |
) |
200,828 |
|
0.23
(c) |
3.05 |
|
25.2 |
| ||
13.22 |
|
6.03 |
|
215,309 |
|
0.23
(c) |
3.55 |
|
18.8 |
| ||
13.72 |
|
7.75 |
|
214,572 |
|
0.23
(c) |
3.57 |
|
29.7 |
| ||
13.38 |
|
10.64 |
|
215,628 |
|
0.24
(c) |
3.69 |
|
11.7 |
| ||
12.34 |
|
6.73 |
|
20,085 |
|
0.48
(c) |
3.06 |
|
17.1 |
| ||
12.17 |
|
(1.55 |
) |
21,108 |
|
0.48
(c) |
2.85 |
|
25.2 |
| ||
13.12 |
|
5.80 |
|
19,836 |
|
0.48
(c) |
3.27 |
|
18.8 |
| ||
13.62 |
|
7.46 |
|
19,464 |
|
0.48
(c) |
3.36 |
|
29.7 |
| ||
13.29 |
|
10.34 |
|
19,667 |
|
0.49
(c) |
3.41 |
|
11.7 |
| ||
18.54 |
|
6.15 |
|
145,083 |
|
0.23
(c) |
1.61 |
|
23.4 |
| ||
18.70 |
|
(1.62 |
) |
142,227 |
|
0.23
(c) |
1.45 |
|
37.9 |
| ||
21.00 |
|
8.68 |
|
138,863 |
|
0.23
(c) |
2.50 |
|
20.4 |
| ||
23.55 |
|
27.40 |
|
121,049 |
|
0.23
(c) |
1.89 |
|
62.5 |
| ||
18.74 |
|
15.52 |
|
90,348 |
|
0.24
(c) |
1.61 |
|
13.9 |
| ||
18.33 |
|
5.90 |
|
103,870 |
|
0.48
(c) |
1.41 |
|
23.4 |
| ||
18.50 |
|
(1.87 |
) |
95,775 |
|
0.48
(c) |
1.19 |
|
37.9 |
| ||
20.80 |
|
8.35 |
|
96,446 |
|
0.48
(c) |
2.21 |
|
20.4 |
| ||
23.38 |
|
27.09 |
|
87,689 |
|
0.48
(c) |
1.57 |
|
62.5 |
| ||
18.61 |
|
15.23 |
|
71,997 |
|
0.49
(c) |
1.36 |
|
13.9 |
| ||
2.54 |
|
2.14 |
|
170,538 |
|
0.50
(d) |
1.91 |
|
48.6 |
| ||
2.54 |
|
0.71 |
|
160,833 |
|
0.49
(d) |
1.63 |
|
57.0 |
| ||
2.59 |
|
1.73 |
|
267,674 |
|
0.49
(d) |
1.74 |
|
54.3 |
| ||
2.59 |
|
1.14 |
|
256,561 |
|
0.48
(d) |
1.65 |
|
54.7 |
| ||
2.61 |
|
5.00 |
|
262,427 |
|
0.49
(d) |
1.95 |
|
59.1 |
| ||
2.53 |
|
2.01 |
|
2,072 |
|
0.75
(d) |
1.65 |
|
48.6 |
| ||
2.53 |
|
0.59 |
|
1,485 |
|
0.74
(d) |
1.39 |
|
57.0 |
| ||
2.58 |
|
1.02 |
|
913 |
|
0.74
(d) |
1.49 |
|
54.3 |
| ||
2.59 |
|
1.25 |
|
838 |
|
0.73
(d) |
1.40 |
|
54.7 |
| ||
2.60 |
|
4.67 |
|
1,269 |
|
0.74
(d) |
1.72 |
|
59.1 |
|
FINANCIAL
HIGHLIGHTS | |||||||||||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||||||||||
Selected
data for a share of Capital Stock outstanding throughout each year ended
December 31 (except as noted): | |||||||||||||||||||||
Net Asset Value, Beginning of
Period |
Net Investment Income
(Loss)(a) |
Net Realized
and Unrealized Gain (Loss) on
Investments |
Total From Investment
Operations |
Dividends From Net Investment
Income |
Distributions
From Realized
Gains |
Total Dividends and
Distributions | |||||||||||||||
SMALLCAP
ACCOUNT |
|||||||||||||||||||||
Class
1 shares |
|||||||||||||||||||||
2016 |
|
$13.55 |
|
|
$0.15 |
|
|
$2.15 |
|
|
$2.30 |
|
|
($0.04 |
) |
|
($0.60 |
) |
|
($0.64 |
) |
2015 |
13.99 |
|
0.05 |
|
(0.03 |
) |
0.02 |
|
(0.01 |
) |
(0.45 |
) |
(0.46 |
) | |||||||
2014 |
13.79 |
|
0.02 |
|
0.64 |
|
0.66 |
|
(0.05 |
) |
(0.41 |
) |
(0.46 |
) | |||||||
2013 |
9.36 |
|
0.04 |
|
4.43 |
|
4.47 |
|
(0.04 |
) |
– |
|
(0.04 |
) | |||||||
2012 |
8.16 |
|
0.07 |
|
1.13 |
|
1.20 |
|
– |
|
– |
|
– |
| |||||||
Class
2 shares |
|||||||||||||||||||||
2016 |
13.52 |
|
0.11 |
|
2.15 |
|
2.26 |
|
(0.01 |
) |
(0.60 |
) |
(0.61 |
) | |||||||
2015(d) |
14.49 |
|
0.02 |
|
(0.53 |
) |
(0.51 |
) |
(0.01 |
) |
(0.45 |
) |
(0.46 |
) |
(a) |
Calculated based on average
shares outstanding during the period. |
(b) |
Total return does not reflect
charges attributable to separate accounts. Inclusion of these
charges would reduce the amounts shown. |
(c) |
Effective May 1, 2016,
SmallCap Blend Account changed its name to SmallCap
Account. |
(d) |
Period from February 17, 2015
date operations commenced, through December 31, 2015. |
(e) |
Total return amounts have not
been annualized. |
(f) |
Computed on an annualized
basis. |
FINANCIAL
HIGHLIGHTS (CONTINUED) | |||||||||||||
PRINCIPAL
VARIABLE CONTRACTS FUNDS, INC. | |||||||||||||
Net Asset Value,
End of Period |
Total
Return(b) |
Net Assets,
End of Period
(in
thousands) |
Ratio of Expenses to Average
Net Assets |
Ratio of
Net Investment
Income to Average
Net Assets |
Portfolio
Turnover
Rate | ||||||||
|
$15.21 |
|
17.39
% |
|
|
$209,911 |
|
0.83
% |
|
1.08
% |
|
57.1
% |
|
13.55 |
|
(0.10 |
) |
205,344 |
|
0.83
|
|
0.33 |
|
63.3 |
| ||
13.99 |
|
4.89 |
|
64,682 |
|
0.87
|
|
0.16 |
|
67.0 |
| ||
13.79 |
|
47.81 |
|
64,785 |
|
0.87
|
|
0.38 |
|
78.1
|
| ||
9.36 |
|
14.71 |
|
47,469 |
|
0.89 |
|
0.76 |
|
94.5 |
| ||
15.17 |
|
17.15 |
|
4,938 |
|
1.08
|
|
0.80 |
|
57.1 |
| ||
13.52 |
|
(3.76)(e) |
|
4,523 |
|
1.08
(f) |
|
0.13
(f) |
|
63.3
(f) |
|
Index Name
shown in the
Average
Annual Total Returns Table |
Full Index
Name |
Bloomberg Barclays MBS Fixed
Rate Index |
Bloomberg Barclays Mortgage
Backed Securities Index |
MSCI Emerging Markets NR
Index |
Morgan Stanley Capital
International Emerging Markets Net Dividend Total Return Dollar Index
|
MSCI EAFE Index
NR |
Morgan Stanley Capital
International Europe, Australasia, and Far East Index Net Dividend Total
Return Dollar Index |
MSCI ACWI
Ex-U.S |
Morgan Stanley Capital
International All Country World Index Ex-U.S. |
MSCI US REIT
Index |
Morgan Stanley Capital
International United States Real Estate Investment Trust
Index |
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 default -
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 obligation; |
• |
Protection afforded by, and
relative position of, the 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. 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 obligation. If adverse business, financial, or
economic conditions occur, the obligor is not likely to have the capacity
to meeting its financial commitment on the
obligation. |
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 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 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. This rating will also be used upon filing for
bankruptcy petition or the taking or 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 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 protection parameters. 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 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. This rating will also be used
upon filing for bankruptcy petition or the taking or 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. |
AAA: |
Highest credit quality. ‘AAA’
ratings denote the lowest expectation of credit risk. They are assigned
only in case of exceptionally strong capacity for payment of financial
commitments. This capacity is highly unlikely to be adversely affected by
foreseeable events. |
AA: |
Very high credit quality. ‘AA’
ratings denote expectations of very low credit risk. They indicate very
strong capacity for timely payment of financial commitments. This capacity
is not significantly vulnerable to foreseeable
events. |
A: |
High credit quality. ‘A’
ratings denote low expectation of credit risk. The capacity for timely
payment of financial commitments is considered strong. This capacity may,
nevertheless, be more vulnerable to adverse business or economic
conditions than is the case for higher
ratings. |
BBB: |
Good credit quality. ‘BBB’
ratings indicate that expectations of credit risk are currently low. The
capacity for payment of financial commitments is considered adequate, but
adverse business or economic conditions are more likely to impair this
capacity. |
BB: |
Speculative. ‘BB’ ratings
indicate an elevated vulnerability to credit risk, particularly in the
event of adverse changes in business or economic conditions over time;
however, business or financial alternatives may be available to allow
financial commitments to be met. |
B: |
Highly speculative. ‘B’
ratings indicate that material credit risk is
present. |
CCC: |
Substantial credit risk. ‘CCC’
ratings indicate that substantial credit risk is
present. |
CC: |
Very high levels of credit
risk. ‘CC’ ratings indicate very high levels of credit
risk. |
C: |
Exceptionally high levels of
credit risk. ‘C’ indicates exceptionally high levels of credit
risk. |
D: |
Default. ‘D’ ratings indicate
an issuer has entered into bankruptcy filings, administration,
receivership, liquidation or which has otherwise ceased
business. |
F1: |
Highest short-term credit
quality. Indicates the strongest intrinsic capacity for timely payment of
financial commitments; may have an added “+” to denote any exceptionally
strong credit feature. |
F2: |
Good short-term credit
quality. Good intrinsic capacity for timely payment of financial
commitments. |
F3: |
Fair short-term credit
quality. The intrinsic capacity for timely payment of financial
commitments is adequate. |
B: |
Speculative short-term credit
quality. Minimal capacity for timely payment of financial commitments,
plus heightened vulnerability to near term adverse changes in financial
and economic conditions. |
C: |
High short-term default risk.
Default is a real possibility. |
RD: |
Restricted default. Indicates
an entity that has defaulted on one or more of its financial commitments,
although it continues to meet other financial obligations. Typically
applicable to entity ratings only. |
D: |
Default. Indicates a
broad-based default event for an entity, or the default of a specific
short-term obligation. |
RR1: |
Outstanding recovery prospects
given default. ‘RR1’ rated securities have characteristics consistent with
securities historically recovering 91%-100% of current principal and
related interest. |
RR2: |
Superior recovery prospects
given default. ‘RR2’ rated securities have characteristics consistent with
securities historically recovering 71%-90% of current principal and
related interest. |
RR3: |
Good recovery prospects given
default. ‘RR3’ rated securities have characteristics consistent with
securities historically recovering 51%-70% of current principal and
related interest. |
RR4: |
Average recovery prospects
given default. ‘RR4’ rated securities have characteristics consistent with
securities historically recovering 31%-50% of current principal and
related interest. |
RR5: |
Below average recovery
prospects given default. ‘RR5’ rated securities have characteristics
consistent with securities historically recovering 11%-30% of current
principal and related interest. |
RR6: |
Poor recovery prospects given
default. ‘RR6’ rated securities have characteristics consistent with
securities historically recovering 0%-10% of current principal and related
interest. |