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
(Class 2) |
International Emerging Markets
Account (Classes 1 & 2) |
Diversified Balanced Managed
Volatility Account (Class 2) |
LargeCap Growth Account
(Classes 1 & 2) |
Diversified Growth Account
(Class 2) |
LargeCap Growth Account I
(Classes 1 & 2) |
Diversified Growth Managed
Volatility Account (Class 2) |
LargeCap S&P 500 Index
Account (Classes 1 & 2) |
Diversified Income Account
(Class 2) |
LargeCap S&P 500 Managed
Volatility Index Account (Class 1) |
Principal LifeTime
Accounts |
LargeCap Value Account (Classes
1 & 2) |
Strategic Income Account (Class
1) |
MidCap Account (Classes 1 &
2) |
2010 Account (Class
1) |
Multi-Asset Income Account
(Classes 1 & 2) |
2020 Account (Classes 1 &
2) |
Principal Capital Appreciation
Account (Classes 1 & 2) |
2030 Account (Classes 1 &
2) |
Real Estate Securities Account
(Classes 1 & 2) |
2040 Account (Classes 1 &
2) |
SmallCap Account (formerly
SmallCap Blend |
2050 Account (Classes 1 &
2) |
Account) (Classes 1 &
2) |
2060 Account (Class
1) |
Fixed-Income
Accounts |
Strategic Asset Management
Portfolios |
Core Plus Bond Account
(formerly Bond & Mortgage Securities |
SAM Balanced Portfolio (Classes
1 & 2) |
Account) (Classes 1 &
2) |
SAM Conservative Balanced
Portfolio (Classes 1 & 2) |
Bond Market Index Account
(Class 1) |
SAM Conservative Growth
Portfolio (Classes 1 & 2) |
Government & High Quality
Bond Account (Classes 1 & 2) |
SAM Flexible Income Portfolio
(Classes 1 & 2) |
Income Account (Classes 1 &
2) |
SAM Strategic Growth Portfolio
(Classes 1 & 2) |
Short-Term Income Account
(Classes 1 & 2) |
ACCOUNT
SUMMARIES |
|
Balanced
Account |
|
Bond Market Index
Account |
|
Core Plus Bond Account
(formerly Bond & Mortgage Securities Account) |
|
Diversified Balanced
Account |
|
Diversified Balanced Managed
Volatility Account |
|
Diversified Growth
Account |
|
Diversified Growth Managed
Volatility 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 (formerly
SmallCap Blend 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 |
0.06% |
Total Annual
Account Operating Expenses |
0.66% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Balanced
Account - Class 1 |
$67 |
$211 |
$368 |
$822 |
53.47% in securities rated
Aaa |
5.32% in securities rated
Ba |
0.00% in securities rated
C |
3.87% in securities rated
Aa |
3.05% in securities rated
B |
0.00% in securities rated
D |
12.15% in securities rated
A |
1.53% in securities rated
Caa |
0.49% in securities not
rated |
20.12% in securities rated
Baa |
0.00% 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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Balanced
Account - Class 1 |
0.42% |
8.96% |
5.54% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
1.38% |
12.57% |
7.31% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
4.51% |
60% S&P 500 Index/40%
Barclays Aggregate Bond Index (reflects no deduction for fees, expenses,
or taxes) |
1.28% |
8.95% |
6.48% |
• |
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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Bond Market
Index Account - Class 1 |
$27 |
$84 |
$146 |
$331 |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'14 |
1.99 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q2
'13 |
(2.46 |
)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2015 |
Past 1
Year |
Life of
Account |
Bond Market
Index Account - Class 1 |
0.13% |
1.44% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
1.83% |
• |
Paul Benson (since 2015),
Managing Director, Head of Fixed Income Portfolio
Management |
• |
David C. Kwan (since 2012),
Managing Director, Fixed Income
Strategies |
• |
Gregg Lee (since 2012), Vice
President, Senior Portfolio Manager, Fixed
Income |
• |
Nancy 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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Core Plus
Bond Account - Class 1 |
$47 |
$148 |
$258 |
$579 |
Core Plus
Bond Account - Class 2 |
73 |
227 |
395 |
883 |
48.02% in securities rated
Aaa |
7.07% in securities rated
Ba |
0.00% in securities rated
C |
3.11% in securities rated
Aa |
4.90% in securities rated
B |
0.02% in securities rated
D |
11.73% in securities rated
A |
1.59% in securities rated
Caa |
0.44% in securities not
rated |
23.11% in securities rated
Baa |
0.01% in securities rated
Ca |
• |
Credit
Default Swaps.
Credit default swap agreements involve specific 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 the
fund has exposure to both the issuer of the referenced obligation and the
counterparty to the credit default swap. |
• |
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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Core Plus
Bond Account - Class 1 |
(0.48)% |
3.64% |
3.78% |
Core Plus
Bond Account - Class 2 |
(0.74)% |
3.38% |
3.52% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
4.51% |
• |
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
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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
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. |
• |
Small and
Medium Market Capitalization Companies. Investments in small and medium sized
companies may involve
greater risk and price volatility than investments in larger, more mature
companies. |
Highest
return for a quarter during the period of the bar chart
above: |
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, 2015 |
Past 1
Year |
Past 5
Years |
Life of
Account |
Diversified
Balanced Account - Class 2 |
0.16% |
6.67% |
7.25% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
3.76% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
1.38% |
12.57% |
12.79% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
3.60% |
4.37% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
(2.18)% |
10.68% |
12.94% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
(1.97)% |
11.48% |
13.55% |
Diversified Balanced Custom
Index (reflects no deduction for fees, expenses, or taxes) |
0.79% |
7.32% |
7.95% |
• |
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
Management Corporation ("Principal"), 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,
2017; however, Principal Variable Contracts Funds, Inc. and Principal, the
parties to the agreement, may mutually agree to terminate the expense
limit prior to the end of the period.
|
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
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 |
• |
Small and
Medium Market Capitalization Companies. Investments in small and medium sized
companies may involve
greater risk and price volatility than investments in larger, more mature
companies. |
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'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, 2015 |
Past 1
Year |
Life of
Account |
Diversified
Balanced Managed Volatility Account - Class 2 |
0.01% |
3.98% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
2.53% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
1.38% |
9.53% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
(1.65)% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
(2.18)% |
5.44% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
(1.97)% |
4.45% |
Diversified Balanced Managed
Volatility Custom Index (reflects no deduction for fees, expenses, or
taxes) |
0.79% |
5.01% |
• |
James W. Fennessey (since
2013), Portfolio Manager |
• |
Randy L. Welch (since 2013),
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 |
0.25% |
Total Annual
Account Operating Expenses |
0.55% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Diversified
Growth 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. |
• |
Small and
Medium Market Capitalization Companies. Investments in small and medium sized
companies may involve
greater risk and price volatility than investments in larger, more mature
companies. |
Highest
return for a quarter during the period of the bar chart
above: |
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, 2015 |
Past 1
Year |
Past 5
Years |
Life of
Account |
Diversified
Growth Account - Class 2 |
0.17% |
7.78% |
8.42% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
1.38% |
12.57% |
12.79% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
3.76% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
3.60% |
4.37% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
(2.18)% |
10.68% |
12.94% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
(1.97)% |
11.48% |
13.55% |
Diversified Growth Custom Index
(reflects no deduction for fees, expenses, or taxes) |
0.77% |
8.42% |
9.05% |
• |
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
Management Corporation ("Principal"), 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,
2017; however, Principal Variable Contracts Funds, Inc. and Principal, the
parties to the agreement, may mutually agree to terminate the expense
limit prior to the end of the period.
|
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
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 |
• |
Small and
Medium Market Capitalization Companies. Investments in small and medium sized
companies may involve
greater risk and price volatility than investments in larger, more mature
companies. |
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'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, 2015 |
Past 1
Year |
Life of
Account |
Diversified
Growth Managed Volatility Account - Class 2 |
0.06% |
4.50% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
1.38% |
9.53% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
2.53% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
(1.65)% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
(2.18)% |
5.44% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
(1.97)% |
4.45% |
Diversified Growth Managed
Volatility Custom Index (reflects no deduction for fees, expenses, or
taxes) |
0.77% |
5.62% |
• |
James W. Fennessey (since
2013), Portfolio Manager |
• |
Randy L. Welch (since 2013),
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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
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. |
• |
Small and
Medium Market Capitalization Companies. Investments in small and medium sized
companies may involve
greater risk and price volatility than investments in larger, more mature
companies. |
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'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, 2015 |
Past 1
Year |
Life of
Account |
Diversified
Income Account - Class 2 |
0.16% |
5.64% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
1.83% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
1.38% |
14.99% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
8.53% |
S&P Midcap 400 Index
(reflects no deduction for fees, expenses, or taxes) |
(2.18)% |
13.00% |
S&P Smallcap 600 Index
(reflects no deduction for fees, expenses, or taxes) |
(1.97)% |
13.90% |
Diversified Income Custom Index
(reflects no deduction for fees, expenses, or taxes) |
0.77% |
6.09% |
• |
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 |
0.84% |
0.84% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.04% |
0.04% |
Total Annual
Account Operating Expenses |
0.88% |
1.13% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Diversified
International Account - Class 1 |
$90 |
$281 |
$488 |
$1,084 |
Diversified
International Account - Class 2 |
115 |
359 |
622 |
1,375 |
• |
Small and
Medium Market Capitalization Companies. Investments in small and medium sized
companies may involve
greater risk and price volatility than investments in larger, more mature
companies. |
Highest
return for a quarter during the period of the bar chart
above: |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Diversified
International - Class 1 |
(0.35)% |
3.74% |
3.30% |
Diversified
International - Class 2 |
(0.65)% |
3.48% |
3.03% |
MSCI ACWI Ex-U.S. Index
(reflects no deduction for fees, expenses, or taxes) |
(5.66)% |
1.06% |
2.92% |
• |
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 |
—% |
—% |
Total Annual
Account Operating Expenses |
0.49% |
0.74% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Equity
Income Account - Class 1 |
$50 |
$157 |
$274 |
$616 |
Equity
Income Account - Class 2 |
76 |
237 |
411 |
918 |
• |
Value Stock
Risk. The market
may not recognize the intrinsic value of value stocks for a long time, or
they may be appropriately priced at the time of purchase.
|
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Equity
Income Account - Class 1 |
(3.93)% |
10.45% |
6.53% |
Equity
Income Account - Class 2 |
(4.15)% |
10.17% |
6.27% |
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
(3.83)% |
11.27% |
6.16% |
• |
Daniel R. Coleman (since
2010), Head of Equities, Portfolio
Manager |
• |
David W. Simpson (since 2008),
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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
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: |
Q3
'06 |
3.42 |
% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q2
'13 |
(1.92 |
)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Government
& High Quality Bond Account - Class 1 |
0.79% |
2.96% |
4.27% |
Government
& High Quality Bond Account - Class 2 |
0.67% |
2.71% |
4.01% |
Barclays MBS Fixed Rate Index
(reflects no deduction for fees, expenses, or taxes) |
1.51% |
2.99% |
4.67% |
• |
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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Income
Account - Class 1 |
$52 |
$164 |
$285 |
$640 |
Income
Account - Class 2 |
78 |
243 |
422 |
942 |
39.47% in securities rated
Aaa |
5.46% in securities rated
Ba |
0.00% in securities rated
C |
2.60% in securities rated
Aa |
4.52% in securities rated
B |
0.00% in securities rated
D |
16.47% in securities rated
A |
1.03% in securities rated
Caa |
1.23% in securities not
rated |
29.22% in securities rated
Baa |
0.00% 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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Income
Account - Class 1 |
(0.71)% |
4.14% |
5.38% |
Income
Account - Class 2 |
(0.92)% |
3.89% |
5.12% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
4.51% |
• |
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 |
0.12% |
0.12% |
Total Annual
Account Operating Expenses |
1.37% |
1.62% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
International
Emerging Markets Account - Class 1 |
$139 |
$434 |
$750 |
$1,646 |
International
Emerging Markets Account - Class 2 |
165 |
511 |
881 |
1,922 |
• |
companies with their principal
place of business or principal office in emerging market countries
or |
• |
companies whose principal
securities trading market is an emerging market
country. |
• |
Small and
Medium Market Capitalization Companies. Investments in small and medium sized
companies may involve
greater risk and price volatility than investments in larger, more mature
companies. |
Highest
return for a quarter during the period of the bar chart
above: |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
International
Emerging Markets - Class 1 |
(13.81)% |
(4.80)% |
3.34% |
International
Emerging Markets - Class 2 |
(14.02)% |
(5.03)% |
3.11% |
MSCI Emerging Markets NDTR D
Index (reflects no deduction for fees, expenses, or taxes) |
(14.92)% |
(4.81)% |
3.61% |
• |
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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
LargeCap
Growth Account - Class 1 |
4.98% |
11.82% |
7.30% |
LargeCap
Growth Account - Class 2 |
4.73% |
11.55% |
7.04% |
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
5.67% |
13.53% |
8.53% |
• |
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
Management Corporation ("Principal"), the investment advisor, has
contractually agreed to limit the Account's Management Fees through the
period ending April 30, 2017. 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 Principal, the parties to the agreement, may
mutually agree to terminate the fee waiver prior to the end of the
period. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
LargeCap
Growth Account I - Class 1 |
$78 |
$246 |
$431 |
$964 |
LargeCap
Growth Account I - Class 2 |
103 |
325 |
566 |
1,257 |
• |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
LargeCap
Growth I - Class 1 |
7.77% |
13.07% |
8.74% |
LargeCap
Growth I - Class 2 |
7.53% |
12.80% |
8.47% |
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
5.67% |
13.53% |
8.53% |
• |
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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
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 Principal. The
Account is not sponsored, endorsed, sold, or promoted by Standard &
Poor's and Standard & Poor's 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
LargeCap
S&P 500 Index - Class 1 |
1.14% |
12.20% |
7.01% |
LargeCap
S&P 500 Index - Class 2 |
0.92% |
11.93% |
6.76% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
1.38% |
12.57% |
7.31% |
• |
Thomas L. Kruchten (since
2011), Research Analyst and 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 |
0.02% |
Acquired Fund Fees and
Expenses |
0.01% |
Total Annual
Account Operating Expenses |
0.48% |
Expense Reimbursement
(1) |
—% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.48% |
(1) Principal
Management Corporation ("Principal"), 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 0.49% for Class 1 shares. It is expected
that the expense limit will continue through the period ending April 30,
2017; however, Principal Variable Contracts Funds, Inc. and Principal, the
parties to the agreement, may mutually agree to terminate the expense
limit prior to the end of the period.
|
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
LargeCap
S&P 500 Managed Volatility Index Account - Class 1 |
$49 |
$154 |
$269 |
$604 |
Note: |
“Standard & Poor's 500"
and "S&P 500®" are trademarks of The
McGraw-Hill Companies, Inc. and have been licensed by Principal. The
Account is not sponsored, endorsed, sold, or promoted by Standard &
Poor's and Standard & Poor's 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. |
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, 2015 |
Past 1
Year |
Life of
Account |
LargeCap
S&P Managed Volatility 500 Index - Class 1 |
0.83% |
8.01% |
S&P 500 Index (reflects no
deduction for fees, expenses, or taxes) |
1.38% |
8.53% |
• |
Thomas L. Kruchten (since
2013), Research Analyst and 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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
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 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
LargeCap
Value Account - Class 1 |
(1.09)% |
11.53% |
5.93% |
LargeCap
Value Account - Class 2 |
(1.33)% |
11.26% |
5.67% |
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
(3.83)% |
11.27% |
6.16% |
• |
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 |
0.52% |
0.52% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.25% |
Other Expenses |
0.01% |
0.01% |
Total Annual
Account Operating Expenses |
0.53% |
0.78% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
MidCap
Account - Class 1 |
$54 |
$170 |
$296 |
$665 |
MidCap
Account - Class 2 |
80 |
249 |
433 |
966 |
• |
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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
MidCap
Account - Class 1 |
1.64% |
14.75% |
10.56% |
MidCap
Account - Class 2 |
1.37% |
14.45% |
10.26% |
Russell Midcap Index (reflects
no deduction for fees, expenses, or taxes) |
(2.44)% |
11.44% |
8.00% |
• |
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 (1) |
0.04% |
0.04% |
Acquired Fund Fees and Expenses
(1) |
0.75% |
0.75% |
Total Annual
Account Operating Expenses |
0.82% |
1.07% |
Expense Reimbursement
(2) |
—% |
—% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.82% |
1.07% |
(1) Based on estimated
amounts for the current fiscal year. | ||
(2) Principal
Management Corporation ("Principal"), 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, 2017; however, Principal Variable Contracts Funds,
Inc. and Principal, the parties to the agreement, may mutually agree to
terminate the expense limits prior to the end of the period.
|
Number of
years you own your shares | ||
1 |
3 | |
Multi-Asset
Income Account - Class 1 |
$84 |
$262 |
Multi-Asset
Income Account - Class 2 |
109 |
340 |
• |
Credit
Default Swaps.
Credit default swap agreements involve specific 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 the
fund has exposure to both the issuer of the referenced obligation and the
counterparty to the credit default swap. |
• |
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. |
• |
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. |
• |
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. |
• |
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 |
0.02% |
0.02% |
Total Annual
Account Operating Expenses |
0.64% |
0.89% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Principal
Capital Appreciation Account - Class 1 |
$65 |
$205 |
$357 |
$798 |
Principal
Capital Appreciation Account - Class 2 |
91 |
284 |
493 |
1,096 |
• |
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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Principal
Capital Appreciation Account - Class 1 |
2.18% |
11.68% |
7.76% |
Principal
Capital Appreciation Account - Class 2 |
1.94% |
11.40% |
7.50% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
0.48% |
12.18% |
7.35% |
• |
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 |
0.02% |
Acquired Fund Fees and
Expenses |
0.58% |
Total Annual
Account Operating Expenses |
0.60% |
(1) Management Fees in the
table have been restated to reflect current fees. Effective March 1, 2016,
the Management Fees were
reduced. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Principal
LifeTime Strategic Income Account – Class 1 |
$61 |
$192 |
$335 |
$750 |
• |
Credit
Default Swaps.
Credit default swap agreements involve specific 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 the
fund has exposure to both the issuer of the referenced obligation and the
counterparty to the credit default swap. |
• |
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. |
• |
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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Principal
LifeTime Strategic Income - Class 1 |
(0.95)% |
4.33% |
3.43% |
S&P Target Date Retirement
Income Index (reflects no deduction for fees, expenses, or
taxes) |
(0.18)% |
4.46% |
4.25% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
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 |
0.01% |
Acquired Fund Fees and
Expenses |
0.63% |
Total Annual
Account Operating Expenses |
0.64% |
(1) Management Fees in the
table have been restated to reflect current fees. Effective March 1, 2016,
the Management Fees were
reduced. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Principal
LifeTime 2010 Account - Class 1 |
$65 |
$205 |
$357 |
$798 |
• |
Credit
Default Swaps.
Credit default swap agreements involve specific 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 the
fund has exposure to both the issuer of the referenced obligation and the
counterparty to the credit default swap. |
• |
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. |
• |
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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Principal
LifeTime 2010 - Class 1 |
(1.17)% |
5.41% |
4.09% |
S&P Target Date 2010 Index
(reflects no deduction for fees, expenses, or taxes) |
(0.21)% |
5.10% |
4.66% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
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 |
—% |
—% |
Acquired Fund Fees and
Expenses |
0.67% |
0.67% |
Total Annual
Account Operating Expenses |
0.67% |
0.92% |
(1) Management Fees in the
table have been restated to reflect current fees. Effective March 1, 2016,
the Management Fees were
reduced. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Principal
LifeTime 2020 Account - Class 1 |
$68 |
$214 |
$373 |
$835 |
Principal
LifeTime 2020 Account - Class 2 |
94 |
293 |
509 |
1,131 |
• |
Credit
Default Swaps.
Credit default swap agreements involve specific 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 the
fund has exposure to both the issuer of the referenced obligation and the
counterparty to the credit default swap. |
• |
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. 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
|
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Principal
LifeTime 2020 - Class 1 |
(1.13)% |
6.60% |
4.85% |
Principal
LifeTime 2020 - Class 2 |
(1.44)% |
6.33% |
4.62% |
S&P Target Date 2020 Index
(reflects no deduction for fees, expenses, or taxes) |
(0.19)% |
6.30% |
5.24% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
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. Effective March 1, 2016,
the Management Fees were
reduced. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Principal
LifeTime 2030 Account - Class 1 |
$73 |
$227 |
$395 |
$883 |
Principal
LifeTime 2030 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. |
• |
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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Principal
LifeTime 2030 - Class 1 |
(1.05)% |
7.13% |
4.91% |
Principal
LifeTime 2030 - Class 2 |
(1.30)% |
6.86% |
4.69% |
S&P Target Date 2030 Index
(reflects no deduction for fees, expenses, or taxes) |
(0.30)% |
7.06% |
5.47% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
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 |
0.72% |
0.72% |
Total Annual
Account Operating Expenses |
0.73% |
0.98% |
(1) Management Fees in the
table have been restated to reflect current fees. Effective March 1, 2016,
the Management Fees were
reduced. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Principal
LifeTime 2040 Account - Class 1 |
$75 |
$233 |
$406 |
$906 |
Principal
LifeTime 2040 Account - Class 2 |
100 |
312 |
542 |
1,201 |
• |
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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Principal
LifeTime 2040 - Class 1 |
(0.85)% |
7.81% |
5.18% |
Principal
LifeTime 2040 - Class 2 |
(1.07)% |
7.56% |
4.96% |
S&P Target Date 2040 Index
(reflects no deduction for fees, expenses, or taxes) |
(0.40)% |
7.60% |
5.59% |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
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 |
0.74% |
0.74% |
Total Annual
Account Operating Expenses |
0.76% |
1.01% |
(1) Management Fees in the
table have been restated to reflect current fees. Effective March 1, 2016,
the Management Fees were
reduced. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Principal
LifeTime 2050 Account - Class 1 |
$78 |
$243 |
$422 |
$942 |
Principal
LifeTime 2050 Account - Class 2 |
103 |
322 |
558 |
1,236 |
• |
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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Principal
LifeTime 2050 - Class 1 |
(0.69)% |
7.97% |
5.23% |
Principal
LifeTime 2050 - Class 2 |
(0.92)% |
7.72% |
5.00% |
S&P Target Date 2050 Index
(reflects no deduction for fees, expenses, or taxes) |
(0.47)% |
7.93% |
N/A |
• |
James W. Fennessey (since
2007), Portfolio Manager |
• |
Jeffrey R. Tyler (since 2011),
Portfolio Manager |
• |
Randy L. Welch (since 2007),
Portfolio Manager |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
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 |
0.30% |
Acquired Fund Fees and
Expenses |
0.74% |
Total Annual
Account Operating Expenses |
1.04% |
Expense Reimbursement
(2) |
(0.20)% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.84% |
(1) Management Fees in the
table have been restated to reflect current fees. Effective March 1, 2016,
the Management Fees were reduced. | |
(2) Principal
Management Corporation ("Principal"), 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,
2017; however, Principal Variable Contracts, Inc. and Principal, the
parties to the agreement, may mutually agree to terminate the expense
limit prior to the end of the
period. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Principal
LifeTime 2060 Account - Class 1 |
$86 |
$304 |
$548 |
$1,247 |
• |
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. 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. |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'14 |
4.11 |
% |
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, 2015 |
Past
1 Year |
Life of
Account |
Principal
LifeTime 2060 - Class 1 |
(0.75)% |
7.52% |
S&P Target Date 2055+ Index
(reflects no deduction for fees, expenses, or taxes) |
(0.54)% |
7.16% |
• |
James W. Fennessey (since
2013), Portfolio Manager |
• |
Jeffrey R. Tyler (since 2013),
Portfolio Manager |
• |
Randy L. Welch (since 2013),
Portfolio Manager |
• |
Matthew Annenberg (since
2013), Managing Director, Asset
Allocation |
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% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Real Estate
Securities Account - Class 1 |
$91 |
$284 |
$493 |
$1,096 |
Real Estate
Securities Account - Class 2 |
116 |
362 |
628 |
1,386 |
• |
Small and
Medium Market Capitalization Companies. Investments in small and medium sized
companies may involve
greater risk and price volatility than investments in larger, more mature
companies. |
• |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Real Estate
Securities Account - Class 1 |
4.21% |
12.96% |
8.45% |
Real Estate
Securities Account - Class 2 |
4.00% |
12.69% |
8.18% |
MSCI US REIT Index (reflects no
deduction for fees, expenses, or taxes) |
2.52% |
11.88% |
7.35% |
• |
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 |
0.70% |
0.70% |
Total Annual
Account Operating Expenses |
0.93% |
1.18% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
SAM Balanced
Portfolio - Class 1 |
$95 |
$296 |
$515 |
$1,143 |
SAM Balanced
Portfolio - Class 2 |
120 |
375 |
649 |
1,432 |
• |
Generally invests between 20%
and 60% of its assets in fixed-income funds, and less than 40% in any one
fixed-income fund (fixed-income funds that generally invest in fixed
income instruments such as real estate securities, mortgage-backed
securities (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 companies, and less than 30% in any one equity
fund (equity funds that generally invest in domestic and foreign equity
securities) and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund (specialty funds that generally offer unique combinations
of traditional equity securities and fixed-income securities or that 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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
SAM Balanced
Portfolio - Class 1 |
(0.81)% |
7.26% |
5.89% |
SAM Balanced
Portfolio - Class 2 |
(1.08)% |
6.98% |
5.63% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
0.48% |
12.18% |
7.35% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
4.51% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
3.60% |
3.03% |
SAM Balanced Blended Index
(reflects no deduction for fees, expenses, or taxes) |
0.56% |
7.49% |
5.93% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Jill R. Cuniff (since 2010),
President and Portfolio Manager |
• |
Todd A. Jablonski (since
2010), 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 |
0.65% |
0.65% |
Total Annual
Account Operating Expenses |
0.88% |
1.13% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
SAM
Conservative Balanced Portfolio - Class 1 |
$90 |
$281 |
$488 |
$1,084 |
SAM
Conservative Balanced Portfolio - Class 2 |
115 |
359 |
622 |
1,375 |
• |
Generally invests between 40%
and 80% of its assets in fixed-income funds, and less than 40% in any one
fixed-income fund (fixed-income funds that generally invest in fixed
income instruments such as high yield securities (or “junk” bonds), real
estate securities, mortgage-backed securities (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 (equity funds that generally invest in domestic and foreign equity
securities) and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund (specialty funds that generally offer unique combinations
of traditional equity securities and fixed-income securities or that 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. |
• |
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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
SAM
Conservative Balanced Portfolio - Class 1 |
(0.78)% |
5.98% |
5.53% |
SAM
Conservative Balanced Portfolio - Class 2 |
(0.93)% |
5.71% |
5.27% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
4.51% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
0.48% |
12.18% |
7.35% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
3.60% |
3.03% |
SAM Conservative Balanced
Blended Index (reflects no deduction for fees, expenses, or
taxes) |
0.63% |
6.13% |
5.57% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Jill R. Cuniff (since 2010),
President and Portfolio Manager |
• |
Todd A. Jablonski (since
2010), 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 |
0.76% |
0.76% |
Total Annual
Account Operating Expenses |
0.99% |
1.24% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
SAM
Conservative Growth Portfolio - Class 1 |
$101 |
$315 |
$547 |
$1,213 |
SAM
Conservative Growth Portfolio - Class 2 |
126 |
393 |
681 |
1,500 |
• |
Generally invests between 0%
and 40% of its assets in fixed-income funds, and less than 30% in any one
fixed-income fund (fixed-income funds that 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 small, medium, and
large market capitalization companies, and less than 40% in any one equity
fund (equity funds that generally invest in domestic and foreign equity
securities) and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund (specialty funds that generally offer unique combinations
of traditional equity securities and fixed-income
|
• |
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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
SAM
Conservative Growth Portfolio - Class 1 |
(1.09)% |
8.25% |
5.85% |
SAM
Conservative Growth Portfolio - Class 2 |
(1.34)% |
7.99% |
5.59% |
Russell 3000 Index (reflects no
deduction for fees, expenses, or taxes) |
0.48% |
12.18% |
7.35% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
4.51% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
3.60% |
3.03% |
SAM Conservative Growth Blended
Index (reflects no deduction for fees, expenses, or taxes) |
0.41% |
8.79% |
6.19% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Jill R. Cuniff (since 2010),
President and Portfolio Manager |
• |
Todd A. Jablonski (since
2010), 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 |
0.55% |
0.55% |
Total Annual
Account Operating Expenses |
0.78% |
1.03% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
SAM Flexible
Income Portfolio - Class 1 |
$80 |
$249 |
$433 |
$966 |
SAM Flexible
Income Portfolio - Class 2 |
105 |
328 |
569 |
1,259 |
• |
Generally invests between 55%
and 95% of its assets in fixed-income funds, and less than 40% in any one
fixed-income fund (fixed-income funds that generally invest in fixed
income instruments such as high yield securities (or “junk” bonds), real
estate securities, mortgage-backed securities (securitized products)
, government and
government-sponsored securities, and corporate
bonds) |
• |
Generally invests between 5%
and 45% of its assets in equity funds, and less than 30% in any one equity
fund (equity funds that generally invest in domestic and foreign equity
securities) and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund (specialty funds that generally offer unique combinations
of traditional equity securities and fixed-income securities or that 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. |
• |
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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
SAM Flexible
Income Portfolio - Class 1 |
(1.31)% |
5.22% |
5.27% |
SAM Flexible
Income Portfolio - Class 2 |
(1.55)% |
4.96% |
5.01% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
4.51% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
0.48% |
12.18% |
7.35% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
3.60% |
3.03% |
SAM Flexible Income Blended
Index (reflects no deduction for fees, expenses, or taxes) |
0.65% |
5.17% |
5.27% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Jill R. Cuniff (since 2010),
President and Portfolio Manager |
• |
Todd A. Jablonski (since
2010), 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 |
0.75% |
0.75% |
Total Annual
Account Operating Expenses |
0.98% |
1.23% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
SAM
Strategic Growth Portfolio - Class 1 |
$100 |
$312 |
$542 |
$1,201 |
SAM
Strategic Growth Portfolio - Class 2 |
125 |
390 |
676 |
1,489 |
• |
Generally invests between 75%
and 100% of its assets in equity funds that invest in small, medium, and
large market capitalization companies, and less than 50% in any one equity
fund (equity funds that generally invest in domestic and foreign equity
securities) and |
• |
Generally invests less than
20% of its assets in specialty funds, and less than 20% in any one
specialty fund (specialty funds that generally offer unique combinations
of traditional equity securities and fixed-income securities or that use
alternative investment strategies that aim to offer diversification beyond
traditional equity |
• |
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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
SAM
Strategic Growth Portfolio - Class 1 |
(1.62)% |
9.07% |
5.91% |
SAM
Strategic Growth Portfolio - Class 2 |
(1.87)% |
8.79% |
5.65% |
Russell 3000 Index (reflects no deduction for
fees, expenses, or taxes) |
0.48% |
12.18% |
7.35% |
MSCI EAFE Index NDTR D
(reflects no deduction for fees, expenses, or taxes) |
(0.81)% |
3.60% |
3.03% |
Barclays U.S. Aggregate Bond
Index (reflects no deduction for fees, expenses, or taxes) |
0.55% |
3.25% |
4.51% |
SAM Strategic Growth Blended
Index (reflects no deduction for fees, expenses, or taxes) |
0.24% |
9.62% |
6.25% |
• |
Charles D. Averill (since
2010), Portfolio Manager |
• |
Jill R. Cuniff (since 2010),
President and Portfolio Manager |
• |
Todd A. Jablonski (since
2010), 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 |
0.49% |
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% |
Expense Reimbursement
(1) |
(0.01)% |
(0.01)% |
Total Annual
Account Operating Expenses after Expense Reimbursement |
0.49% |
0.74% |
(1) Principal Management
Corporation ("Principal"), the investment advisor, has contractually
agreed to reduce the Account's expenses by 0.01% through the period ending
April 30, 2017. It is expected that the expense reimbursement will
continue through the period disclosed; however, Principal Variable
Contracts Funds, Inc. and Principal, the parties to the agreement, may
mutually agree to terminate the expense reimbursement prior to the end of
the period. |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
Short-Term
Income Account - Class 1 |
$50 |
$159 |
$278 |
$627 |
Short-Term
Income Account - Class 2 |
76 |
238 |
416 |
929 |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
Short-Term
Income Account - Class 1 |
0.71% |
1.98% |
3.22% |
Short-Term
Income Account - Class 2 |
0.59% |
1.69% |
2.95% |
Barclays Credit 1-3 Year Index
(reflects no deduction for fees, expenses, or taxes) |
0.85% |
1.77% |
3.50% |
• |
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 |
0.05% |
0.05% |
Total Annual
Account Operating Expenses |
0.88% |
1.13% |
Number of
years you own your shares | ||||
1 |
3 |
5 |
10 | |
SmallCap
Account - Class 1 |
$90 |
$281 |
$488 |
$1,084 |
SmallCap
Account - Class 2 |
115 |
359 |
622 |
1,375 |
• |
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. 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. |
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, 2015 |
Past 1
Year |
Past 5
Years |
Past 10
Years |
SmallCap
Account - Class 1 |
(0.10)% |
11.85% |
6.78% |
SmallCap
Account - Class 2 |
(0.35)% |
11.58% |
6.52% |
Russell 2000 Index (reflects no
deduction for fees, expenses, or taxes) |
(4.41)% |
9.19% |
6.80% |
• |
Phil Nordhus (since 2006),
Portfolio Manager |
• |
Brian Pattinson (since 2011),
Portfolio Manager |
INVESTMENT
STRATEGIES
AND RISKS |
BALANCED |
BOND
MARKET
INDEX |
CORE
PLUS
BOND |
DIVERSIFIED
BALANCED |
DIVERSIFIED
BALANCED MANAGED VOLATILITY |
Bank Loans (also known as
Senior Floating Rate Interests) |
Non-Principal |
Not Applicable |
Non-Principal |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Non-Principal |
Non-Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Not Applicable |
Not Applicable |
Principal |
Principal |
Exchange Traded Funds
(ETFs) |
Non-Principal |
Not Applicable |
Not Applicable |
Principal |
Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Principal |
Hedging |
Non-Principal |
Not Applicable |
Principal |
Non-Principal |
Principal |
High Yield
Securities |
Principal |
Not Applicable |
Principal |
Not Applicable |
Not
Applicable |
Index Funds |
Not Applicable |
Principal |
Not Applicable |
Principal |
Principal |
Industry
Concentration |
Not Applicable |
Not Applicable(2) |
Not Applicable |
Not Applicable |
Not
Applicable |
Leverage |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Liquidity
Risk(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Management
of the Account(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Market Volatility and
Securities Issuers(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio Turnover (Active
Trading) |
Principal |
Principal |
Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Not Applicable |
Not
Applicable |
Real Estate Investment Trusts
("REITS") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Redemption Risk |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Principal |
Principal |
Principal |
Principal |
Principal |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
(1) |
These risks are not deemed
principal for purposes of this table because they apply to almost all
funds; however, in certain circumstances, they could significantly affect
the net asset value, yield, and total
return. |
(2) |
The 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
GROWTH |
DIVERSIFIED
GROWTH MANAGED VOLATILITY |
DIVERSIFIED
INCOME |
DIVERSIFIED
INTERNATIONAL |
EQUITY
INCOME |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Principal |
Principal |
Principal |
Non-Principal |
Non-Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Exchange Traded Funds
(ETFs) |
Principal |
Principal |
Principal |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Non-Principal |
Non-Principal |
Foreign
Securities |
Principal |
Principal |
Non-Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Index Funds |
Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Liquidity
Risk(1) |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Management
of the Account(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Market Volatility and
Securities Issuers(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs'") |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Real Estate
Securities |
Principal |
Principal |
Principal |
Non-Principal |
Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Securitized
Products |
Principal |
Principal |
Principal |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
(1) |
These risks are not deemed
principal for purposes of this table because they apply to almost all
funds; however, in certain circumstances, they could significantly affect
the net asset value, yield, and total
return. |
(2) |
The 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 |
GOVERNMENT
& HIGH QUALITY BOND |
INCOME |
INTERNATIONAL
EMERGING
MARKETS |
LARGECAP
GROWTH |
LARGECAP
GROWTH I |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Emerging
Markets |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Not Applicable |
Non-Principal |
Principal |
Principal |
Principal |
Exchange Traded Funds
(ETFs) |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Foreign
Securities |
Not Applicable |
Principal |
Principal |
Non-Principal |
Non-Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Index Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Liquidity
Risk(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Management
of the Account(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Market Volatility and
Securities Issuers(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption Risk |
Principal |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Royalty Trusts |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Securitized
Products |
Principal |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
(1) |
These risks are not deemed
principal for purposes of this table because they apply to almost all
funds; however, in certain circumstances, they could significantly affect
the net asset value, yield, and total
return. |
INVESTMENT
STRATEGIES
AND RISKS |
LARGECAP
S&P 500
INDEX |
LARGECAP
S&P 500 MANAGED VOLATILITY INDEX |
LARGECAP
VALUE |
MIDCAP |
MULTI-ASSET
INCOME |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Convertible
Securities |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Principal |
Principal |
Non-Principal |
Non-Principal |
Principal |
Emerging
Markets |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Exchange Traded Funds
(ETFs) |
Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Principal |
Foreign
Securities |
Not Applicable |
Not Applicable |
Non-Principal |
Principal |
Principal |
Fund of Funds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Hedging |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Index Funds |
Principal |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Non-Principal(2) |
Non-Principal(2) |
Not Applicable |
Not Applicable |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Liquidity
Risk(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Management
of the Account(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Market Volatility and
Securities Issuers(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Principal |
Real Estate Investment Trusts
(REITs) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Redemption Risk |
Principal |
Principal |
Not Applicable |
Principal |
Principal |
Royalty Trusts |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Securitized
Products |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
(1) |
These risks are not deemed
principal for purposes of this table because they apply to almost all
funds; however, in certain circumstances, they could significantly affect
the net asset value, yield, and total
return. |
(2) |
The 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 |
PRINCIPAL
CAPITAL APPRECIATION |
PRINCIPAL
LIFETIME
STRATEGIC
INCOME |
PRINCIPAL
LIFETIME
2010 |
PRINCIPAL
LIFETIME
2020 |
PRINCIPAL
LIFETIME
2030 |
Bank Loans (also known as
Senior Floating Rate Interests) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Principal |
Principal |
Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Exchange Traded Funds
(ETFs) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Index Funds |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Liquidity
Risk(1) |
Non-Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Management
of the Account(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Market Volatility and
Securities Issuers(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs" |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Redemption Risk |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Securitized
Products |
Not Applicable |
Principal |
Principal |
Non-Principal |
Non-Principal |
Short Sales |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
(1) |
These risks are not deemed
principal for purposes of this table because they apply to almost all
funds; however, in certain circumstances, they could significantly affect
the net asset value, yield, and total
return. |
INVESTMENT
STRATEGIES
AND RISKS |
PRINCIPAL
LIFETIME
2040 |
PRINCIPAL
LIFETIME
2050 |
PRINCIPAL
LIFETIME
2060 |
REAL
ESTATE SECURITIES |
Bank Loans (also known as
Senior Floating Rate Interests) |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Principal |
Principal |
Principal |
Non-Principal |
Emerging
Markets |
Principal |
Principal |
Principal |
Not
Applicable |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Exchange Traded Funds
(ETFs) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Non-Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Non-Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Index Funds |
Principal |
Principal |
Principal |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Liquidity
Risk(1) |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Management
of the Account(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Market Volatility and
Securities Issuers(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
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 |
Principal |
Real Estate
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Not
Applicable |
Royalty Trusts |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
Securitized
Products |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Short Sales |
Non-Principal |
Non-Principal |
Non-Principal |
Not
Applicable |
(1) |
These risks are not deemed
principal for purposes of this table because they apply to almost all
funds; however, in certain circumstances, they could significantly affect
the net asset value, yield, and total
return. |
INVESTMENT
STRATEGIES
AND RISKS |
SAM
BALANCED |
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 |
Non-Principal |
Convertible
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Derivatives |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Emerging
Markets |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Exchange Traded Funds
(ETFs) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Principal |
Principal |
Principal |
Principal |
Non-Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Fund of Funds |
Principal |
Principal |
Principal |
Principal |
Principal |
Hedging |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Principal |
Non-Principal |
Principal |
Not
Applicable |
Index Funds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Leverage |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Liquidity
Risk(1) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Management
of the Account(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Market Volatility and
Securities Issuers(1) |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Portfolio
Turnover |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Principal |
Non-Principal |
Principal |
Non-Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Securitized
Products |
Principal |
Principal |
Non-Principal |
Principal |
Non-Principal |
Short Sales |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
(1) |
These risks are not deemed
principal for purposes of this table because they apply to almost all
funds; however, in certain circumstances, they could significantly affect
the net asset value, yield, and total
return. |
INVESTMENT
STRATEGIES
AND RISKS |
SHORT-TERM
INCOME |
SMALLCAP |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Derivatives |
Non-Principal |
Non-Principal |
Emerging
Markets |
Non-Principal |
Not
Applicable |
Equity
Securities |
Not Applicable |
Principal |
Exchange Traded Funds
(ETFs) |
Non-Principal |
Non-Principal |
Fixed-Income
Securities |
Principal |
Non-Principal |
Foreign
Securities |
Principal |
Non-Principal |
Fund of Funds |
Not Applicable |
Not
Applicable |
Hedging |
Non-Principal |
Non-Principal |
High Yield
Securities |
Non-Principal |
Not
Applicable |
Index Funds |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not
Applicable |
Leverage |
Non-Principal |
Non-Principal |
Liquidity
Risk(1) |
Non-Principal |
Non-Principal |
Management
of the Account(1) |
Non-Principal |
Non-Principal |
Market Volatility and
Securities Issuers(1) |
Non-Principal |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Not Applicable |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Non-Principal |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-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 |
(1) |
These risks are not deemed
principal for purposes of this table because they apply to almost all
funds; however, in certain circumstances, they could significantly affect
the net asset value, yield, and total
return. |
• |
increased volatility of a
fund; |
• |
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.
Commodities are assets that have tangible properties, such as oil, coal,
natural gas, agricultural products, industrial metals, livestock and
precious metals. Funds may seek exposure to commodity markets through
investments in commodity index-linked notes, which 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 |
• |
Credit Default Swap
Agreements. A fund may enter into credit default swap agreements 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. A
fund may use foreign currency options and foreign currency forward and
swap contracts 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. A fund will not hedge currency exposure to an extent greater
than the approximate aggregate market value of the securities held or to
be purchased by the fund (denominated or generally quoted or currently
convertible into the currency). 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, options and
swaps. These derivative instruments are commonly used for traditional
hedging purposes to attempt to protect a fund from loss due to changing
interest rates, securities prices, asset values, or currency exchange
rates and as a low-cost method of gaining exposure to a particular market
without investing directly in those securities or assets. A fund may enter
into put or call options, futures contracts, options on futures contracts,
over-the-counter swap contracts (e.g., interest rate swaps, total return
swaps and credit default swaps), commodities futures and options thereon,
currency futures contracts and options, options on currencies, and forward
currency contracts or currency swaps for both hedging and non-hedging
purposes. A fund may enter into forward commitment agreements, which call
for the fund to purchase or sell a security on a future date at a fixed
price. A fund may also enter into contracts to sell its investments either
on demand or at a specific interval. |
• |
Forward, futures and swap
contracts. These derivative investments are subject to special risk
considerations, such as: the imperfect correlation between the change in
market value of the instruments held by a fund and the price of the
forward, swap or futures contract; and if a fund has insufficient cash, it
may have to sell securities from its portfolio to meet daily variation
margin requirements, and a fund may have to sell securities when it may be
disadvantageous to do so. |
• |
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). |
• |
Options. Some of the risks
associated with options include imperfect correlation, 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. |
• |
Swap Agreements. Swap
agreements involve the risk that the party with whom the fund has entered
into the swap will default on its obligation to pay the fund and the risk
that the fund will not be able to meet its obligations to pay the other
party to the agreement. |
• |
companies with their principal
place of business or principal office in emerging market countries
or |
• |
companies whose principal
securities trading market is an emerging market
country. |
• |
increased social, political,
and economic instability; |
• |
a smaller market for these
securities and low or nonexistent volume of trading that results in a lack
of liquidity and in 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. |
• |
companies with their principal
place of business or principal office outside the U.S.
or |
• |
companies whose principal
securities trading market is outside the
U.S. |
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 |
50.2% |
50.1% |
35.1% |
35.1% |
65.2% |
International Equity Index
Fund |
7.0% |
7.0% |
10.0% |
10.0% |
4.0% |
LargeCap S&P 500 Index
Account |
34.8% |
— |
44.9% |
— |
24.8% |
LargeCap S&P 500 Managed
Volatility Index Account |
— |
34.9% |
— |
44.9% |
— |
MidCap S&P 400 Index
Fund |
4.0% |
4.0% |
5.0% |
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 |
1.7% |
2.9% |
4.5% |
4.5% |
— |
— |
— |
Bond Market Index
Fund |
9.3% |
7.8% |
6.3% |
4.4% |
2.3% |
0.8% |
0.6% |
Core Plus Bond
Account |
27.0% |
21.5% |
17.6% |
12.7% |
7.3% |
3.6% |
1.9% |
Diversified International
Fund |
2.1% |
4.3% |
5.5% |
7.3% |
8.2% |
8.8% |
9.2% |
Diversified Real Asset
Fund |
2.7% |
4.2% |
3.8% |
3.6% |
3.0% |
2.6% |
1.9% |
Equity Income
Fund |
3.7% |
3.3% |
4.2% |
3.3% |
— |
— |
— |
Global Diversified Income
Fund |
10.0% |
8.2% |
6.2% |
3.6% |
— |
— |
— |
Global Multi-Strategy
Fund |
3.9% |
3.5% |
3.2% |
3.0% |
2.3% |
2.2% |
2.0% |
Global Opportunities
Fund |
0.9% |
1.9% |
4.9% |
5.0% |
5.5% |
6.3% |
6.8% |
Global Real Estate Securities
Fund |
— |
— |
2.6% |
3.5% |
5.1% |
5.5% |
5.6% |
High Yield Fund
I |
— |
— |
— |
— |
1.9% |
1.8% |
1.9% |
Inflation Protection
Fund |
11.2% |
7.5% |
3.8% |
2.3% |
0.9% |
— |
— |
International Emerging Markets
Fund |
0.5% |
0.9% |
1.3% |
1.6% |
1.8% |
2.1% |
2.5% |
LargeCap Growth
Fund |
— |
— |
— |
— |
4.0% |
4.4% |
3.9% |
LargeCap Growth Fund
I |
2.3% |
3.2% |
5.1% |
7.7% |
11.0% |
11.9% |
12.3% |
LargeCap S&P 500 Index
Fund |
2.2% |
4.2% |
7.5% |
9.6% |
11.2% |
12.4% |
13.1% |
LargeCap Value
Fund |
— |
— |
— |
3.9% |
6.4% |
6.6% |
6.6% |
LargeCap Value Fund
III |
— |
3.8% |
4.6% |
4.5% |
7.2% |
7.7% |
7.8% |
MidCap Fund |
2.2% |
4.1% |
2.9% |
0.8% |
— |
— |
— |
MidCap Growth Fund
III |
— |
— |
1.5% |
3.1% |
3.7% |
4.2% |
4.5% |
MidCap Value Fund
III |
— |
— |
1.4% |
2.9% |
3.8% |
4.2% |
4.5% |
Origin Emerging Markets
Fund |
0.5% |
0.8% |
1.1% |
1.5% |
1.8% |
1.7% |
1.9% |
Overseas Fund |
2.0% |
4.4% |
5.4% |
6.9% |
8.0% |
8.3% |
8.7% |
Short-Term Income
Account |
17.0% |
10.9% |
3.6% |
— |
— |
— |
— |
SmallCap Growth Fund
I |
0.4% |
1.3% |
1.5% |
2.2% |
2.4% |
2.5% |
2.2% |
SmallCap Value Fund
II |
0.4% |
1.3% |
1.5% |
2.1% |
2.2% |
2.4% |
2.1% |
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% |
2.8% |
5.8% |
— |
— |
— |
Core Plus Bond
Account |
— |
1.9% |
— |
2.2% |
— |
— |
Diversified International
Fund |
8.9% |
6.0% |
11.3% |
2.5% |
18.4% |
— |
Diversified Real Asset
Fund |
— |
— |
3.2% |
— |
— |
— |
EDGE MidCap
Fund |
1.4% |
1.0% |
1.8% |
— |
— |
— |
Equity Income
Account |
10.5% |
6.6% |
11.2% |
10.1% |
13.0% |
— |
Equity Income
Fund |
— |
— |
— |
— |
— |
6.2% |
Global Diversified Income
Fund |
2.0% |
3.2% |
— |
6.5% |
— |
42.7% |
Global Multi-Strategy
Fund |
7.6% |
5.3% |
9.9% |
— |
7.9% |
— |
Global Real Estate Securities
Fund |
2.0% |
1.4% |
2.6% |
1.0% |
4.0% |
6.7% |
Government & High Quality
Bond Account |
7.4% |
12.4% |
2.4% |
10.6% |
— |
— |
High Yield Fund |
2.4% |
4.7% |
0.6% |
7.8% |
— |
17.1% |
Income Account |
14.3% |
21.4% |
5.2% |
31.1% |
— |
— |
Inflation Protection
Fund |
1.8% |
2.5% |
— |
4.3% |
— |
— |
International Emerging Markets
Fund |
1.8% |
1.2% |
— |
1.1% |
— |
— |
International Fund
I |
— |
— |
— |
— |
— |
6.1% |
LargeCap Growth
Fund |
9.3% |
6.9% |
12.4% |
4.1% |
12.8% |
— |
LargeCap Value
Fund |
5.8% |
4.0% |
9.1% |
4.0% |
11.1% |
— |
MidCap Account |
6.2% |
3.7% |
8.6% |
— |
— |
— |
MidCap Value Fund
I |
1.9% |
1.9% |
2.5% |
— |
5.8% |
— |
Origin Emerging Markets
Fund |
— |
— |
2.0% |
— |
5.1% |
— |
Preferred Securities
Fund |
0.4% |
0.5% |
0.1% |
0.5% |
— |
11.5% |
Principal Capital Appreciation
Fund |
3.5% |
2.6% |
5.1% |
— |
15.3% |
— |
Real Estate Debt Income
Fund |
— |
— |
— |
— |
— |
9.7% |
Short-Term Income
Fund |
4.4% |
7.5% |
1.5% |
9.6% |
— |
— |
SmallCap Growth Fund
I |
0.1% |
0.1% |
0.2% |
0.1% |
0.8% |
— |
SmallCap Value Fund
II |
0.7% |
0.4% |
0.5% |
— |
1.7% |
— |
Small-MidCap Dividend Income
Fund |
3.0% |
2.0% |
4.0% |
4.5% |
4.1% |
— |
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. |
• |
Active Management: The
performance of a fund that is actively managed will reflect in part the
ability of those managing the investments of the fund to make investment
decisions that are suited to achieving the fund's investment objective.
Actively managed funds are prepared to invest in securities, sectors, or
industries differently from the benchmark. When making decisions about
whether to buy or sell equity securities, considerations may include,
among other things, a company’s strength in fundamentals, its potential
for earnings growth over time, its ability to navigate certain
macroeconomic environments, the current price of its securities relative
to their perceived worth and relative to others in its industry, and
analysis from computer models. When making decisions about whether to buy
or sell fixed-income investments, considerations may include, among other
things, the strength of certain sectors of the fixed-income market
relative to others, interest rates, the macroeconomic backdrop, the
balance between supply and demand for certain asset classes, other general
market conditions, the credit quality of individual issuers, and the
fundamental strengths of corporate
issuers. |
• |
Passive Management: Index
funds use a passive, or indexing, investment approach. Pure index funds do
not attempt to manage market volatility, use defensive strategies or
reduce the effect of any long-term periods of poor stock or bond
performance. Index funds attempt to replicate their relevant target index
by investing primarily |
Account |
Total
Percentage of Outstanding Shares Owned |
Bond Market Index
Account |
99.87% |
Core Plus Bond
Account |
26.66% |
Equity Income
Account |
34.84% |
Government & High Quality
Bond Account |
41.03% |
Income Account |
96.07% |
LargeCap S&P 500 Index
Account |
90.74% |
LargeCap S&P 500 Managed
Volatility Index Account |
100.00% |
MidCap Account |
13.47% |
Short-Term Income
Account |
9.51% |
• |
Mortgage-backed
securities (“MBS”) represent an interest in a pool of underlying mortgage
loans secured by real property. MBS are sensitive to changes in interest
rates, but may respond to these changes differently from other fixed
income securities due to the possibility of prepayment of the underlying
mortgage loans. If interest rates fall and the underlying loans are
prepaid faster than expected, the fund may have to reinvest the prepaid
principal in lower yielding securities, thus reducing the fund’s income.
Conversely, rising interest rates tend to discourage refinancings and the
underlying loans may be prepaid more slowly than expected, reducing a
fund’s potential to reinvest the principal in higher yielding securities
and extending the duration of the underlying loans. In addition, when
market conditions result in an increase in default rates on the underlying
loans and the foreclosure values of the underlying real estate is less
than the outstanding amount due on the underlying loan, collection of the
full amount of accrued interest and principal on these investments may be
doubtful. The risk of such defaults is generally higher in the case of
underlying mortgage pools that include sub-prime mortgages (mortgages
granted to borrowers whose credit histories would not support conventional
mortgages). |
• |
Commercial
mortgage-backed securities (“CMBS”) represent an interest in a pool of
underlying commercial mortgage loans secured by real property such as
retail, office, hotel, multi-family, and industrial properties. Certain
CMBS are issued in several classes with different levels of yield and
credit protection, and the CMBS class in which a fund invests usually
influences the interest rate, credit, and prepayment
risks. |
• |
Asset-backed
securities (“ABS”) are backed by non-mortgage assets such as company
receivables, truck and auto loans, student loans, leases and credit card
receivables. ABS entail credit risk. They also may present a risk that, in
the event of default, the liquidation value of the underlying assets may
be inadequate to pay any unpaid interest or principal.
|
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: |
Edge Asset
Management, Inc. (“Edge”), 601 Union Street, Suite 2200,
Seattle, WA 98101-1377, has been in the business of investment management
since 1944. |
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
Global Investors, LLC (“PGI”), 801 Grand Avenue, Des Moines,
IA 50392, manages equity and fixed-income investments, primarily for
institutional investors. PGI's other primary asset management office is in
New York, with asset management offices of affiliate advisors in several
non-U.S. locations including London, Sydney and
Singapore. |
Sub-Advisor: |
Principal
Real Estate Investors, LLC (“Principal - REI”), 801 Grand Avenue, 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% |
MidCap |
0.52% |
Bond Market
Index |
0.25% |
Multi-Asset Income (1) |
0.03% |
Core Plus Bond |
0.45% |
Principal Capital
Appreciation |
0.62% |
Diversified
Balanced |
0.05% |
LifeTime 2010 (2) |
0.00% |
Diversified Balanced Managed
Volatility |
0.05% |
LifeTime 2020 (2) |
0.00% |
Diversified
Growth |
0.05% |
LifeTime 2030 (2) |
0.00% |
Diversified Growth Managed
Volatility |
0.05% |
LifeTime 2040 (2) |
0.00% |
Diversified
Income |
0.05% |
LifeTime 2050 (2) |
0.00% |
Diversified
International |
0.84% |
LifeTime 2060 (2) |
0.00% |
Equity Income |
0.49% |
LifeTime Strategic Income
(2) |
0.00% |
Government & High Quality
Bond |
0.50% |
Real Estate
Securities |
0.88% |
Income |
0.50% |
SAM Balanced |
0.23% |
International Emerging
Markets |
1.25% |
SAM Conservative
Balanced |
0.23% |
LargeCap Growth |
0.68% |
SAM Conservative
Growth |
0.23% |
LargeCap Growth
I |
0.76% |
SAM Flexible
Income |
0.23% |
LargeCap S&P 500
Index |
0.25% |
SAM Strategic
Growth |
0.23% |
LargeCap S&P 500 Index
Managed Volatility |
0.45% |
Short-Term
Income |
0.49% |
LargeCap Value |
0.60% |
SmallCap Blend |
0.82% |
(1) Operations commenced on
July 28, 2015. | |||
(2) 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,
2015 | ||
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 liabilities of
each class |
• |
dividing the remainder by the
total number of shares owned in 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
holdings 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, Principal 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 the
Principal Variable Contracts Funds, Inc., an Account, Principal, any
Sub-Advisor, or PFD. |
• |
Contractholders as of August
15, 2013, may continue to select this investment
option. |
• |
Funds of funds may continue to
invest in the MidCap 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 |
||||||||||||||||||||
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 |
) | ||||||
2011 |
13.62 |
|
0.27 |
|
0.29 |
|
0.56 |
|
(0.32 |
) |
— |
|
(0.32 |
) | ||||||
BOND
MARKET INDEX ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
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(f) |
10.00
|
|
0.08
|
|
0.13 |
|
0.21 |
|
— |
|
— |
|
— |
| ||||||
CORE
PLUS BOND ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
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 |
) | ||||||
2011 |
10.61 |
|
0.44 |
|
0.31 |
|
0.75 |
|
(0.01 |
) |
— |
|
(0.01 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2015(c) |
11.62 |
|
0.19 |
|
(0.42 |
) |
(0.23 |
) |
(0.36 |
) |
— |
|
(0.36 |
) | ||||||
DIVERSIFIED
BALANCED ACCOUNT |
||||||||||||||||||||
Class
2 shares |
||||||||||||||||||||
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 |
) | ||||||
2011 |
11.02 |
|
0.21
|
|
0.19 |
|
0.40
|
|
(0.12 |
) |
— |
|
(0.12 |
) |
(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) |
Period from May 15, 2012 date
operations commenced, through December 31, 2012. |
(g) |
Does not include expenses of
the investment companies in which the Account invests. |
(h) |
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 | |||||||
|
$17.70 |
|
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 | |
13.86 |
|
4.05 |
|
50,180 |
|
0.66 |
|
— |
|
1.98 |
|
178.7 | |
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) | |
11.05 |
|
(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 | |
11.35 |
|
7.07
|
|
323,866 |
|
0.45
|
|
— |
|
3.95 |
|
252.1 | |
11.03 |
|
(2.03)(d) |
|
28 |
|
0.71
(e) |
|
— |
|
2.58 (e) |
|
177.2
(e) | |
14.11 |
|
0.16 |
|
1,031,111 |
|
0.30
(g) |
|
0.30
(g),(h) |
|
1.29 |
|
14.3 | |
14.39 |
|
7.41 |
|
1,011,106 |
|
0.30
(g) |
|
0.30
(g),(h) |
|
1.11 |
|
9.0 | |
13.66 |
|
12.95 |
|
856,784 |
|
0.30
(g) |
|
0.30
(g),(h) |
|
1.16 |
|
10.1 | |
12.28 |
|
9.71 |
|
581,734 |
|
0.30
(g) |
|
0.30
(g),(h) |
|
0.52 |
|
56.6 | |
11.30 |
|
3.61
|
|
331,823 |
|
0.31
(g) |
|
0.31
(g),(h) |
|
1.86 |
|
17.9 |
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 |
|||||||||||||||||||||
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 |
|||||||||||||||||||||
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 |
) | |||||||
2011 |
11.17 |
|
0.18 |
|
0.07 |
|
0.25 |
|
(0.09 |
) |
— |
|
(0.09 |
) | |||||||
DIVERSIFIED
GROWTH MANAGED VOLATILITY ACCOUNT |
|||||||||||||||||||||
Class
2 shares |
|||||||||||||||||||||
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 |
|||||||||||||||||||||
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 | ||||||||
|
$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) |
| ||
15.08 |
|
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 |
| ||
11.33 |
|
2.26 |
|
747,602 |
|
0.30
(d) |
0.30
(d),(h) |
|
1.58 |
|
15.6
|
| ||
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) |
| ||
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 |
Total Dividends and
Distributions | |||||||||||||
DIVERSIFIED
INTERNATIONAL ACCOUNT |
||||||||||||||||||
Class
1 shares |
||||||||||||||||||
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 |
) | ||||||
2011 |
12.54 |
|
0.27 |
|
(1.67 |
) |
(1.40 |
) |
(0.02 |
) |
(0.02 |
) | ||||||
Class
2 shares |
||||||||||||||||||
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 |
) | ||||||
2011 |
12.63 |
|
0.23 |
|
(1.66 |
) |
(1.43 |
) |
(0.02 |
) |
(0.02 |
) | ||||||
EQUITY
INCOME ACCOUNT |
||||||||||||||||||
Class
1 shares |
||||||||||||||||||
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 |
) | ||||||
2011 |
14.80 |
|
0.50 |
|
0.30 |
|
0.80 |
|
(0.07 |
) |
(0.07 |
) | ||||||
Class
2 shares |
||||||||||||||||||
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 |
) | ||||||
2011 |
14.74 |
|
0.45 |
|
0.31 |
|
0.76 |
|
(0.07 |
) |
(0.07 |
) |
(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 | ||||||||
|
$13.68 |
|
(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 |
| ||
11.12 |
|
(11.17 |
) |
428,532 |
|
0.89 |
|
2.17 |
|
68.5 |
| ||
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 |
| ||
11.18 |
|
(11.36 |
) |
1,952 |
|
1.14 |
|
1.91 |
|
68.5 |
| ||
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 |
| ||
15.53 |
|
5.44 |
|
624,366 |
|
0.48 |
|
3.28 |
|
19.9 |
| ||
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 |
| ||
15.43 |
|
5.17 |
|
25,498 |
|
0.73 |
|
3.00 |
|
19.9 |
|
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 |
|||||||||||||||||||||
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 |
) | |||||||
2011 |
10.29 |
|
0.36 |
|
0.28 |
|
0.64 |
|
(0.02 |
) |
(0.01 |
) |
(0.03 |
) | |||||||
Class
2 shares |
|||||||||||||||||||||
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 |
) | |||||||
2011 |
10.32 |
|
0.34 |
|
0.27 |
|
0.61 |
|
(0.02 |
) |
(0.01 |
) |
(0.03 |
) | |||||||
INCOME
ACCOUNT |
|||||||||||||||||||||
Class
1 shares |
|||||||||||||||||||||
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 |
) | |||||||
2011 |
10.12 |
|
0.56 |
|
0.07 |
|
0.63 |
|
(0.04 |
) |
— |
|
(0.04 |
) | |||||||
Class
2 shares |
|||||||||||||||||||||
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 |
) | |||||||
2011 |
10.09 |
|
0.53 |
|
0.08 |
|
0.61 |
|
(0.04 |
) |
— |
|
(0.04 |
) |
(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 | ||||||||
|
$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 |
| ||
10.90 |
|
6.23 |
|
453,864 |
|
0.51 |
|
3.42 |
|
83.8 |
| ||
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 |
| ||
10.90 |
|
5.90 |
|
1,215 |
|
0.76 |
|
3.17 |
|
83.8 |
| ||
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 |
| ||
10.71 |
|
6.25 |
|
239,939 |
|
0.50 |
|
5.36 |
|
17.8 |
| ||
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 |
| ||
10.66 |
|
6.05 |
|
4,360 |
|
0.75 |
|
5.11 |
|
17.8 |
|
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 | |||||||||||||||
INTERNATIONAL
EMERGING MARKETS ACCOUNT |
|||||||||||||||||||||
Class
1 shares |
|||||||||||||||||||||
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 |
) | |||||||
2011 |
17.51 |
|
0.23 |
|
(3.35 |
) |
(3.12 |
) |
(0.01 |
) |
— |
|
(0.01 |
) | |||||||
Class
2 shares |
|||||||||||||||||||||
2015(c) |
16.74 |
|
0.08 |
|
(3.71 |
) |
(3.63 |
) |
(0.25 |
) |
— |
|
(0.25 |
) | |||||||
LARGECAP
GROWTH ACCOUNT |
|||||||||||||||||||||
Class
1 shares |
|||||||||||||||||||||
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 |
) | |||||||
2011 |
15.12 |
|
0.05 |
|
(0.69 |
) |
(0.64 |
) |
— |
|
— |
|
— |
| |||||||
Class
2 shares |
|||||||||||||||||||||
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 |
|
— |
|
— |
|
— |
| |||||||
2011 |
15.11 |
|
0.01 |
|
(0.69 |
) |
(0.68 |
) |
— |
|
— |
|
— |
| |||||||
LARGECAP
GROWTH ACCOUNT I |
|||||||||||||||||||||
Class
1 shares |
|||||||||||||||||||||
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 |
) | |||||||
2011 |
21.37 |
|
0.02 |
|
(0.09 |
) |
(0.07 |
) |
— |
|
— |
|
— |
| |||||||
Class
2 shares |
|||||||||||||||||||||
2015(c) |
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) |
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) |
Total return is calculated
using the traded net asset value which may differ from the reported net
asset value. |
(g) |
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 | |||||||
|
$12.88 |
|
(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 |
| |
14.38 |
|
(17.84 |
) |
143,811 |
|
1.40
|
|
1.37 |
|
86.8 |
| |
12.86 |
|
(21.81)(d) |
|
41 |
|
1.62
(e) |
|
0.90
(e) |
|
97.3
(e) |
| |
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 |
| |
14.48 |
|
(4.23 |
) |
181,559 |
|
0.69 |
|
0.31 |
|
56.6 |
| |
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
(f) |
|
712 |
|
0.94 |
|
0.10 |
|
70.1 |
| |
16.83 |
|
16.56
(f) |
|
604 |
|
0.94 |
|
0.47 |
|
62.6 |
| |
14.43 |
|
(4.50 |
) |
561 |
|
0.94 |
|
0.05 |
|
56.6 |
| |
26.33 |
|
7.77 |
|
252,386 |
|
0.76
(g) |
|
0.07 |
|
38.6 |
| |
28.70 |
|
8.61 |
|
239,629 |
|
0.76
(g) |
|
0.11 |
|
38.9 |
| |
32.58 |
|
36.14 |
|
260,034 |
|
0.75
(g) |
|
0.12 |
|
36.9 |
| |
24.77 |
|
16.38 |
|
240,585 |
|
0.76
(g) |
|
0.42 |
|
36.9 |
| |
21.30 |
|
(0.33 |
) |
228,749 |
|
0.76
(g) |
|
0.07 |
|
46.1 |
| |
26.29 |
|
1.94
(d) |
|
501 |
|
1.01
(e),(g) |
|
(0.19)(e) |
|
38.6
(e) |
|
(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) |
Total return is calculated
using the traded net asset value which may differ from the reported net
asset value. |
(g) |
Reflects Manager's
contractual expense limit. |
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 |
|||||||||||||||||||
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 |
) | |||||
2011 |
8.91 |
|
0.16 |
|
(0.01 |
) |
0.15 |
|
— |
|
— |
|
— |
| |||||
Class
2 shares |
|||||||||||||||||||
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 |
|||||||||||||||||||
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 |
|||||||||||||||||||
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 |
) | |||||
2011 |
23.92 |
|
0.33 |
|
(0.05 |
) |
0.28 |
|
— |
|
— |
|
— |
| |||||
Class
2 shares |
|||||||||||||||||||
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 | ||||||||
|
$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
|
| ||
9.06 |
|
1.73 |
|
593,337 |
|
0.26 |
|
1.80 |
|
7.9
|
| ||
14.39 |
|
(1.95)(d) |
|
161 |
|
0.50
(e) |
|
1.78
(e) |
|
6.3
(e) |
| ||
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) |
| ||
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 |
| ||
24.20 |
|
1.17 |
|
199,660 |
|
0.61 |
|
1.37 |
|
113.9 |
| ||
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 |
|||||||||||||||||
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 |
) | |||
2011 |
37.83 |
|
0.23 |
|
2.92 |
|
3.15 |
|
— |
|
(0.47 |
) |
(0.47 |
) | |||
Class
2 shares |
|||||||||||||||||
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 |
) | |||
2011 |
37.82 |
|
0.13 |
|
2.91 |
|
3.04 |
|
— |
|
(0.47 |
) |
(0.47 |
) | |||
MULTI-ASSET
INCOME ACCOUNT |
|||||||||||||||||
Class
1 shares |
|||||||||||||||||
2015(d) |
10.00 |
|
0.24 |
|
(0.52 |
) |
(0.28 |
) |
— |
|
— |
|
— |
| |||
Class
2 shares |
|||||||||||||||||
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) |
Excludes expense
reimbursement from Manager and/or Distributor. |
(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. |
(g) |
Reflects Manager's
contractual expense limit. |
(h) |
Voluntary waivers comprised
0.26% of average net assets. |
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 | ||||||||
|
$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
|
| ||
40.51 |
|
8.29 |
|
531,255 |
|
0.55 |
|
0.57 |
|
28.9
|
| ||
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 |
| ||
40.39 |
|
8.00 |
|
11,226 |
|
0.80 |
|
0.32 |
|
28.9 |
| ||
9.72 |
|
(2.80)(e) |
|
10 |
|
0.08
(f),(g) |
|
5.67
(f) |
|
0.0
(f) |
| ||
9.71 |
|
(2.90)(e) |
|
10 |
|
0.33(f),(g) |
|
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 |
|||||||||||||||||
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 |
) | |||
2011 |
21.47 |
|
0.24 |
|
(0.21 |
) |
0.03 |
|
— |
|
(0.14 |
) |
(0.14 |
) | |||
Class
2 shares |
|||||||||||||||||
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 |
) | |||
2011 |
21.40 |
|
0.18 |
|
(0.21 |
) |
(0.03 |
) |
— |
|
(0.14 |
) |
(0.14 |
) | |||
PRINCIPAL
LIFETIME 2010 ACCOUNT |
|||||||||||||||||
Class
1 shares |
|||||||||||||||||
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 |
) | |||
2011 |
10.49 |
|
0.19 |
|
(0.03 |
) |
0.16 |
|
(0.29 |
) |
— |
|
(0.29 |
) | |||
PRINCIPAL
LIFETIME 2020 ACCOUNT |
|||||||||||||||||
Class
1 shares |
|||||||||||||||||
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 |
) | |||
2011 |
11.02 |
|
0.19 |
|
(0.29 |
) |
(0.10 |
) |
(0.28 |
) |
— |
|
(0.28 |
) | |||
Class
2 shares |
|||||||||||||||||
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 | ||||||||
|
$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
|
| ||
21.36 |
|
0.13 |
|
142,828 |
|
0.64 |
|
1.09 |
|
10.3
|
| ||
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 |
| ||
21.23 |
|
(0.15 |
) |
5,472 |
|
0.89 |
|
0.83 |
|
10.3
|
| ||
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 |
| ||
10.36 |
|
1.44 |
|
47,435 |
|
0.04
(d) |
|
1.79 |
|
24.3
|
| ||
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 |
| ||
10.64 |
|
(1.07 |
) |
192,409 |
|
0.04
(d) |
|
1.74 |
|
8.9 |
| ||
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 |
||||||||||||||||||||
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 |
) | ||||||
2011 |
11.09 |
|
0.19 |
|
(0.42 |
) |
(0.23 |
) |
(0.22 |
) |
— |
|
(0.22 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2015(d) |
12.85 |
|
0.25 |
|
(0.88 |
) |
(0.63 |
) |
(0.32 |
) |
(0.47 |
) |
(0.79 |
) | ||||||
PRINCIPAL
LIFETIME 2040 ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
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 |
) | ||||||
2011 |
11.31 |
|
0.19 |
|
(0.54 |
) |
(0.35 |
) |
(0.18 |
) |
— |
|
(0.18 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
2015(d) |
15.14 |
|
0.18 |
|
(0.93 |
) |
(0.75 |
) |
(0.36 |
) |
(0.52 |
) |
(0.88 |
) | ||||||
PRINCIPAL
LIFETIME 2050 ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
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 |
) | ||||||
2011 |
11.24 |
|
0.18 |
|
(0.61 |
) |
(0.43 |
) |
(0.17 |
) |
— |
|
(0.17 |
) | ||||||
Class
2 shares |
||||||||||||||||||||
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 |
|
(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 |
| ||
10.64 |
|
(2.22 |
) |
79,646 |
|
0.04
(c) |
1.70 |
|
13.2 |
| ||
11.43 |
|
(5.14)(e) |
|
26 |
|
0.29
(c),(f) |
3.22
(f) |
|
31.3
(f) |
| ||
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 |
| ||
10.78 |
|
(3.18 |
) |
22,110 |
|
0.05
(c) |
1.67 |
|
13.7 |
| ||
13.51 |
|
(5.18)(e) |
|
10 |
|
0.29
(c),(f) |
1.97
(f) |
|
24.2
(f) |
| ||
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 |
| ||
10.64 |
|
(3.94 |
) |
12,822 |
|
0.07
(c) |
1.58 |
|
19.7 |
| ||
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 |
||||||||||||||||||||
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 |
||||||||||||||||||||
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 |
) | ||||||
2011 |
10.22 |
|
0.20 |
|
0.16 |
|
0.36 |
|
(0.33 |
) |
— |
|
(0.33 |
) | ||||||
REAL
ESTATE SECURITIES ACCOUNT |
||||||||||||||||||||
Class
1 shares |
||||||||||||||||||||
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 |
) | ||||||
2011 |
13.21 |
|
0.10 |
|
1.08 |
|
1.18 |
|
— |
|
— |
|
— |
| ||||||
Class
2 shares |
||||||||||||||||||||
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 |
) | ||||||
2011 |
13.30 |
|
0.06 |
|
1.10 |
|
1.16 |
|
— |
|
— |
|
— |
|
(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 | ||||||
|
$11.75 |
|
(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) |
| |
11.15 |
|
(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 |
| |
10.25 |
|
3.52 |
|
29,574 |
|
0.05
(d) |
1.96 |
|
19.3 |
| |
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 |
| |
14.39 |
|
8.93 |
|
140,316 |
|
0.90
|
0.71 |
|
22.4 |
| |
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 |
| |
14.46 |
|
8.72 |
|
287 |
|
1.15
|
0.42 |
|
22.4 |
|
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 |
|||||||||||||||||||
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 |
) | |||||
2011 |
15.02 |
|
0.10 |
|
0.06 |
|
0.16 |
|
(0.42 |
) |
— |
|
(0.42 |
) | |||||
Class
2 shares |
|||||||||||||||||||
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 |
) | |||||
2011 |
14.92 |
|
0.06 |
|
0.06 |
|
0.12 |
|
(0.38 |
) |
— |
|
(0.38 |
) | |||||
SAM
CONSERVATIVE BALANCED PORTFOLIO |
|||||||||||||||||||
Class
1 shares |
|||||||||||||||||||
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 |
) | |||||
2011 |
11.68 |
|
0.10 |
|
0.17 |
|
0.27 |
|
(0.37 |
) |
(0.11 |
) |
(0.48 |
) | |||||
Class
2 shares |
|||||||||||||||||||
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 |
) | |||||
2011 |
11.60 |
|
0.07 |
|
0.17 |
|
0.24 |
|
(0.35 |
) |
(0.11 |
) |
(0.46 |
) | |||||
SAM
CONSERVATIVE GROWTH PORTFOLIO |
|||||||||||||||||||
Class
1 shares |
|||||||||||||||||||
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 |
) | |||||
2011 |
15.36 |
|
0.07 |
|
(0.13 |
) |
(0.06 |
) |
(0.31 |
) |
— |
|
(0.31 |
) | |||||
Class
2 shares |
|||||||||||||||||||
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 |
) | |||||
2011 |
15.23 |
|
0.03 |
|
(0.11 |
) |
(0.08 |
) |
(0.28 |
) |
— |
|
(0.28 |
) |
(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 | |||||||
|
$14.69 |
|
(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 |
| ||
14.76 |
|
0.99 |
|
781,873 |
|
0.23
(c) |
0.68 |
|
14.2 |
| ||
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 |
| ||
14.66 |
|
0.73 |
|
94,487 |
|
0.48
(c) |
0.43 |
|
14.2 |
| ||
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 |
| ||
11.47 |
|
2.29 |
|
177,476 |
|
0.24
(c) |
0.86 |
|
20.8 |
| ||
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 |
| ||
11.38 |
|
1.97 |
|
15,465 |
|
0.49
(c) |
0.60 |
|
20.8 |
| ||
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 |
| ||
14.99 |
|
(0.45 |
) |
132,387 |
|
0.24
(c) |
0.45 |
|
24.2 |
| ||
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 |
| ||
14.87 |
|
(0.63 |
) |
78,247 |
|
0.49
(c) |
0.20 |
|
24.2 |
|
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 |
||||||||||||||||
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 |
) | ||
2011 |
12.50 |
|
0.15 |
|
0.28 |
|
0.43 |
|
(0.49 |
) |
(0.02 |
) |
(0.51 |
) | ||
Class
2 shares |
||||||||||||||||
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 |
) | ||
2011 |
12.42 |
|
0.12 |
|
0.28 |
|
0.40 |
|
(0.46 |
) |
(0.02 |
) |
(0.48 |
) | ||
SAM
STRATEGIC GROWTH PORTFOLIO |
||||||||||||||||
Class
1 shares |
||||||||||||||||
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 |
) | ||
2011 |
16.82 |
|
0.04 |
|
(0.34 |
) |
(0.30 |
) |
(0.26 |
) |
— |
|
(0.26 |
) | ||
Class
2 shares |
||||||||||||||||
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 |
|
— |
|
— |
|
— |
| ||
2011 |
16.71 |
|
— |
|
(0.34 |
) |
(0.34 |
) |
(0.22 |
) |
— |
|
(0.22 |
) | ||
SHORT-TERM
INCOME ACCOUNT |
||||||||||||||||
Class
1 shares |
||||||||||||||||
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 |
) | ||
2011 |
2.51 |
|
0.06 |
|
(0.03 |
) |
0.03 |
|
— |
|
— |
|
— |
| ||
Class
2 shares |
||||||||||||||||
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 |
) | ||
2011 |
2.51 |
|
0.05 |
|
(0.03 |
) |
0.02 |
|
— |
|
— |
|
— |
|
(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 | |||||||
|
$12.27 |
|
(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 |
| ||
12.42 |
|
3.39 |
|
187,458 |
|
0.24
(c) |
1.22 |
|
20.6 |
| ||
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 |
| ||
12.34 |
|
3.13 |
|
18,382 |
|
0.49
(c) |
0.96 |
|
20.6 |
| ||
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 |
| ||
16.26 |
|
(1.90 |
) |
83,738 |
|
0.24
(c) |
0.25 |
|
23.3 |
| ||
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 |
| ||
16.15 |
|
(2.12 |
) |
64,907 |
|
0.49
(c) |
(0.01 |
) |
23.3 |
| ||
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 |
| ||
2.54 |
|
1.37 |
|
228,351 |
|
0.49
(d) |
2.35 |
|
55.1 |
| ||
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 |
| ||
2.53 |
|
0.95 |
|
1,516 |
|
0.74
(d) |
2.11 |
|
55.1 |
|
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 |
|||||||||||||||||||||
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 |
|
— |
|
— |
|
— |
| |||||||
2011 |
8.31 |
|
(0.01 |
) |
(0.11 |
) |
(0.12 |
) |
(0.03 |
) |
— |
|
(0.03 |
) | |||||||
Class
2 shares |
|||||||||||||||||||||
2015(c) |
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) |
Period from February 17, 2015
date operations commenced, through December 31, 2015. |
(d) |
Total return amounts have not
been annualized. |
(e) |
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 | ||||||||
|
$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
|
| ||
8.16 |
|
(1.47 |
) |
47,155 |
|
0.88 |
|
(0.09 |
) |
69.1 |
| ||
13.52 |
|
(3.76)(d) |
|
4,523 |
|
1.08
(e) |
|
0.13
(e) |
|
63.3
(e) |
|
Index Name
shown in the
Average
Annual Total Returns Table |
Full Index
Name |
Barclays MBS Fixed Rate
Index |
Barclays Mortgage Backed
Securities Index |
MSCI Emerging Markets NDTR D
Index |
Morgan Stanley Capital
International Emerging Markets Net Dividend Total Return Dollar Index
|
MSCI EAFE Index NDTR
D |
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 Standard & Poor's. 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 Standard & Poor’s 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 Standard & Poor’s
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 Standard & Poor’s 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 Standard
& Poor’s 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. |