Ticker
Symbols by Share Class | |||||||||||
Fund |
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 |
S |
Blue Chip |
PBLAX |
PBLCX |
PBCJX |
PBCKX |
PGBEX |
PGBFX |
PGBGX |
PGBHX |
|||
Bond Market
Index |
PBIJX |
PNIIX |
PBIMX |
PBINX |
PBOIX |
PBIPX |
PBIQX |
||||
Capital
Securities |
PCSFX | ||||||||||
Diversified Real
Asset |
PRDAX |
PRDCX |
PDRDX |
PGDRX |
PGDSX |
PGDTX |
PDARX |
||||
Dynamic Floating Rate High
Income |
PDYAX |
PDYIX |
|||||||||
EDGE MidCap |
PEDGX |
PEDMX |
|||||||||
Global
Multi-Strategy |
PMSAX |
PMSCX |
PSMIX |
PGLSX |
|||||||
Global
Opportunities |
PGLAX |
PGOCX |
PGOIX |
||||||||
International Equity
Index |
PIDIX |
PILIX |
PINEX |
PIIOX |
PIIPX |
PIIQX |
PFIEX |
||||
International Small
Company |
PICAX |
PISMX |
PFISX |
||||||||
Multi-Manager Equity
Long/Short |
PGMMX |
PGPIX |
PGPMX |
||||||||
Opportunistic
Municipal |
PMOAX |
PMODX |
POMFX |
||||||||
Origin Emerging
Markets |
POEYX |
POEIX |
POEFX |
||||||||
Preferred
Securities |
PPSAX |
PRFCX |
PPSJX |
PPSIX |
PUSAX |
PPRSX |
PNARX |
PQARX |
PPARX |
PPREX |
|
Real Estate Debt
Income |
PRDYX |
PRDIX |
PRDHX |
||||||||
Small-MidCap Dividend
Income |
PMDAX |
PMDDX |
PMDIX |
PMDHX |
|||||||
SystematEx
International |
PSOMX |
PSTMX |
|||||||||
SystematEx Large
Value |
PSLVX |
FUND SUMMARIES |
|
Blue Chip Fund |
|
Bond Market Index
Fund |
|
Capital Securities
Fund |
|
Diversified Real Asset
Fund |
|
Dynamic Floating Rate High
Income Fund |
|
EDGE MidCap
Fund |
|
Global Multi-Strategy
Fund |
|
Global Opportunities
Fund |
|
International Equity Index
Fund |
|
International Small Company
Fund |
|
Multi-Manager Equity
Long/Short Fund |
|
Opportunistic Municipal
Fund |
|
Origin Emerging Markets
Fund |
|
Preferred Securities
Fund |
|
Real Estate Debt Income
Fund |
|
Small-MidCap Dividend Income
Fund |
|
SystematEx International
Fund |
|
SystematEx Large Value
Fund |
|
ADDITIONAL INFORMATION ABOUT
INVESTMENT STRATEGIES AND RISKS |
|
PORTFOLIO HOLDINGS
INFORMATION |
|
MANAGEMENT OF THE
FUNDS |
|
PRICING OF
FUND SHARES |
|
CONTACT PRINCIPAL FUNDS,
INC. |
|
PURCHASE OF FUND
SHARES |
|
REDEMPTION OF FUND
SHARES |
|
EXCHANGE OF FUND
SHARES |
|
DIVIDENDS AND
DISTRIBUTIONS |
|
FREQUENT PURCHASES AND
REDEMPTIONS |
|
TAX
CONSIDERATIONS |
|
CHOOSING A SHARE CLASS AND THE
COSTS OF INVESTING |
|
DISTRIBUTION PLANS AND
INTERMEDIARY COMPENSATION |
|
FUND ACCOUNT
INFORMATION |
|
APPENDIX A – DESCRIPTION
OF BOND RATINGS |
|
APPENDIX B – ADDITIONAL
FUND-SPECIFIC INFORMATION |
|
APPENDIX C -
INTERMEDIARY-SPECIFIC SALES CHARGE WAIVERS AND REDUCTIONS |
|
APPENDIX D - FINANCIAL
HIGHLIGHTS |
|
ADDITIONAL
INFORMATION |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||||||||
A |
C |
J |
Inst. |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV when Sales Load is
paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
Share
Class | ||||||||
A |
C |
J |
Inst. |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
0.68% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses (1) |
0.22% |
0.26% |
0.21% |
0.01% |
0.32% |
0.28% |
0.26% |
0.01% |
Total Annual
Fund Operating Expenses |
1.15% |
1.94% |
1.04% |
0.69% |
1.25% |
1.06% |
0.94% |
0.69% |
Expense Reimbursement
(2)
|
N/A |
N/A |
N/A |
None |
N/A |
N/A |
N/A |
None |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.15% |
1.94% |
1.04% |
0.69% |
1.25% |
1.06% |
0.94% |
0.69% |
(1) |
Based on estimated amounts for
the current fiscal year (Class J). | ||||
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.81% for
Institutional Class shares. In addition, for Class R-6, the expense limit
will maintain "Other Expenses" (expressed as a percent of average net
assets on an annualized basis) not to exceed 0.01%, (excluding interest
expense, expenses related to fund investments, acquired fund fees and
expenses, and other extraordinary expenses). It is expected that the
expense limits will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$661 |
$895 |
$1,148 |
$1,871 |
Class
C |
297 |
609 |
1,047 |
2,264 |
Class
J |
206 |
331 |
574 |
1,271 |
Institutional
Class |
70 |
221 |
384 |
859 |
Class
R-3 |
127 |
397 |
686 |
1,511 |
Class
R-4 |
108 |
337 |
585 |
1,294 |
Class
R-5 |
96 |
300 |
520 |
1,155 |
Class
R-6 |
70 |
221 |
384 |
859 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$197 |
$609 |
$1,047 |
$2,264 |
Class
J |
106 |
331 |
574 |
1,271 |
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and medium sized companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'13 |
10.03% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'15 |
(4.58)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1 Year |
5
Year |
Life of
Fund |
Class A
Return Before Taxes |
21.22% |
14.24% |
14.73% |
Class A
Return After Taxes on Distributions |
20.43% |
13.74% |
14.26% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
12.66% |
11.34% |
11.84% |
Class C
Return Before Taxes |
26.30% |
14.67% |
15.03% |
Class J
Return Before Taxes |
27.40% |
15.81% |
16.19% |
Institutional
Class Return Before Taxes |
28.86% |
16.19% |
16.59% |
Class R-3
Return Before Taxes |
28.09% |
15.55% |
15.92% |
Class R-4
Return Before Taxes |
28.43% |
15.79% |
16.16% |
Class R-5
Return Before Taxes |
28.54% |
15.92% |
16.29% |
Class R-6
Return Before Taxes |
28.86% |
16.16% |
16.54% |
Russell 1000 Growth Index
(reflects no deduction for fees, expenses, or taxes) |
30.21% |
17.33% |
16.93% |
• |
K. William Nolin (since 2012),
Portfolio Manager |
• |
Tom Rozycki (since 2012),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A, C and
J |
Initial
Investment |
$1,000(1) |
A, C and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-4, R-5 and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide
current income. |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
None |
None |
None |
None |
None |
None |
Share
Class | |||||||
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 | |
Management Fees |
0.25% |
0.25% |
0.25% |
0.25% |
0.25% |
0.25% |
0.25% |
Distribution and/or Service
(12b-1) Fees |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
Other Expenses |
0.30% |
0.01% |
0.54% |
0.46% |
0.33% |
0.29% |
0.27% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
0.71% |
0.27% |
1.15% |
1.02% |
0.84% |
0.65% |
0.53% |
Fee Waiver and Expense
Reimbursement (1)
(2) |
(0.10)% |
(0.10)% |
(0.10)% |
(0.10)% |
(0.10)% |
(0.10)% |
(0.10)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
0.61% |
0.17% |
1.05% |
0.92% |
0.74% |
0.55% |
0.43% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund's Management Fees through the period ending December 30, 2019. The
fee waiver will reduce the Fund's Management Fees by 0.10% (expressed as a
percent of average net assets on an annualized basis). It is expected that
the fee waiver will continue through the period disclosed; however,
Principal Funds, Inc. and PGI, the parties to the agreement may mutually
agree to terminate the fee waiver prior to the end of the
period. |
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.71% for Class
J, 0.16% for Institutional, 1.04% for Class R-1, 0.91% for Class R-2,
0.73% for Class R-3, 0.54% for Class R-4, and 0.42% for Class R-5 shares.
It is expected that the expense limits will continue through the period
ending December 30, 2019; however, Principal Funds, Inc. and PGI, the
parties to the agreement, may mutually agree to terminate the expense
limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$162 |
$217 |
$385 |
$873 |
Institutional
Class |
17 |
77 |
142 |
333 |
Class
R-1 |
107 |
355 |
623 |
1,389 |
Class
R-2 |
94 |
315 |
554 |
1,239 |
Class
R-3 |
76 |
258 |
456 |
1,028 |
Class
R-4 |
56 |
198 |
352 |
801 |
Class
R-5 |
44 |
160 |
286 |
655 |
1
year |
3
years |
5
years |
10
years | |
Class
J |
$62 |
$217 |
$385 |
$873 |
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
3.76% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'16 |
(3.12)% |
Average
Annual Total Returns |
|||||
For the
periods ended December 31, 2017 |
1 Year |
5
Years |
Life of
Fund |
||
Institutional
Class Return Before Taxes |
3.31% |
1.94% |
(1) |
3.33% |
(1) |
Institutional
Class Return After Taxes on Distributions |
2.27% |
1.01% |
(1) |
2.45% |
(1) |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
1.87% |
1.05% |
(1) |
2.21% |
(1) |
Class J
Return Before Taxes |
1.97% |
1.24% |
(1) |
2.60% |
(1) |
Class R-1
Return Before Taxes |
2.46% |
0.84% |
2.30% |
||
Class R-2
Return Before Taxes |
2.52% |
0.96% |
2.42% |
||
Class R-3
Return Before Taxes |
2.71% |
1.15% |
2.61% |
||
Class R-4
Return Before Taxes |
2.80% |
1.34% |
2.80% |
||
Class R-5
Return Before Taxes |
3.09% |
1.46% |
2.93% |
||
Bloomberg Barclays U.S.
Aggregate Bond Index (reflects no deduction for fees, expenses, or
taxes) |
3.54% |
2.10% |
3.59% |
||
(1)
During 2014,
the Institutional Class experienced a significant withdrawal of monies by
an affiliate. As the remaining shareholders held relatively small
positions, the total return amounts expressed herein are greater than
those that would have been experienced without the
withdrawal. |
• |
Paul Benson (since 2015),
Managing Director, Head of Fixed Income Portfolio Management
|
• |
Gregg Lee (since 2010), Vice
President, Senior Portfolio Manager, Fixed
Income |
• |
Nancy G. Rogers (since 2015),
Director, Senior Portfolio Manager, Fixed
Income |
• |
Stephanie Shu (since 2015),
Director, Senior Portfolio Manager, Fixed
Income |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
J |
Initial
Investment |
$1,000(1) |
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, and R-5 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide
current income. |
Share
Class | |
S | |
Management Fees |
0.00% |
Other Expenses |
0.07% |
Acquired Fund Fees and
Expenses |
0.01% |
Total Annual
Fund Operating Expenses |
0.08% |
Expense Reimbursement
(1) |
(0.07)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement (2) |
0.01% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has agreed contractually to limit the
Fund's expenses attributable to Class S shares by paying, expenses
normally payable by the Fund, (excluding interest expense, expenses
related to fund investments, acquired fund fees and expenses, and other
extraordinary expenses) to maintain a total level of operating expenses
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.00%. It is expected that the expense limit will continue
permanently (and in any event, through December 30, 2019); however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limit. |
(2) |
The table reflects that
Principal Global Investors, LLC ("PGI"), the investment advisor, is
absorbing all expenses of the Fund. You should be aware, however, that the
Fund is an integral part of "wrap-fee" programs, including those sponsored
by registered investment advisors and broker-dealers unaffiliated with the
Fund. Participants in these programs pay a "wrap" fee to the sponsor of
the program. You should read carefully the wrap-fee brochure provided to
you by your sponsor or your registered investment advisor. The brochure is
required to include information about the fees charged to you by the
sponsor and the fees paid to the registered investment
advisor. |
1
year |
3
years |
5
years |
10
years | |
Class
S |
$1 |
$3 |
$6 |
$13 |
0.00% in securities rated
Aaa |
64.22% in securities rated
Baa |
0.00% in securities rated
Caa |
0.00% in securities rated
D |
0.00% in securities rated
Aa |
20.48% in securities rated
Ba |
0.00% in securities rated
Ca |
1.01% in securities not
rated |
11.38% in securities rated
A |
2.91% in securities rated
B |
0.00% in securities rated
C |
• |
Financial
Services. A fund concentrating in
financial services companies may be more susceptible to adverse economic
or regulatory occurrences affecting financial services companies.
Financial companies may be adversely affected in certain market cycles,
including periods of rising interest rates, which may restrict the
availability and increase the cost of capital, and declining economic
conditions, which may cause credit losses due to financial difficulties of
borrowers. Because many types of financial companies are especially
vulnerable to these economic cycles, the Fund’s investments in these
companies may lose significant value during such periods. |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'17 |
4.21% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q1
'16 |
(0.81)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2017 |
1 Year |
Life of
Fund |
Class S
Return Before Taxes |
11.56% |
6.45% |
Class S
Return After Taxes on Distributions |
9.75% |
4.45% |
Class S
Return After Taxes on Distributions and Sale of Fund
Shares |
7.16% |
4.21% |
ICE BofA Merrill Lynch U.S. All
Capital Securities Index (reflects no deduction for fees, expenses, or
taxes) |
10.55% |
7.13% |
• |
Fernando (“Fred”) Diaz (since
2014), Portfolio Manager |
• |
Roberto Giangregorio (since
2014), Portfolio Manager |
• |
L. Phillip Jacoby, IV (since
2014), Chief Investment Officer and Portfolio
Manager |
• |
Manu Krishnan (since 2014),
Portfolio Manager |
• |
Mark A. Lieb (since 2014),
President and Chief Executive Officer |
Objective: |
The Fund seeks a long-term
total return in excess of inflation. |
Share
Class | |||||||
A |
C |
Inst. |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
1.00% |
None |
None |
None |
None |
None |
Share
Class | |||||||
A |
C |
Inst. |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
0.80% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.48% |
0.30% |
0.12% |
0.33% |
0.29% |
0.27% |
0.03% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
1.54% |
2.11% |
0.93% |
1.39% |
1.20% |
1.08% |
0.84% |
Fee Waiver and Expense
Reimbursement (1)(2) |
(0.31)% |
(0.13)% |
(0.07)% |
(0.03)% |
(0.03)% |
(0.03)% |
(0.04)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
1.23% |
1.98% |
0.86% |
1.36% |
1.17% |
1.05% |
0.80% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s Management Fees through the period ending December 30, 2019. The
fee waiver will reduce the Fund's Management Fees by 0.03% (expressed as a
percent of average net assets on an annualized basis). It is expected that
the fee waiver will continue through the period disclosed; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the fee waiver prior to the end of the
period. | |||
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.22% for Class
A, 1.97% for Class C, 0.85% and for Institutional Class shares. In
addition, for Class R-6, the expense limit will maintain "Other Expenses"
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.02%, (excluding interest expense, expenses related to fund
investments, acquired fund fees and expenses, and other extraordinary
expenses). It is expected that the expense limits will continue through
the period ending December 30, 2019; however, Principal Funds, Inc. and
PGI, the parties to the agreement, may mutually agree to terminate the
expense limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$496 |
$814 |
$1,155 |
$2,115 |
Class
C |
301 |
648 |
1,122 |
2,431 |
Institutional
Class |
88 |
289 |
508 |
1,137 |
Class
R-3 |
138 |
437 |
758 |
1,666 |
Class
R-4 |
119 |
378 |
657 |
1,452 |
Class
R-5 |
107 |
340 |
593 |
1,314 |
Class
R-6 |
82 |
264 |
462 |
1,033 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$201 |
$648 |
$1,122 |
$2,431 |
41.56% in securities rated
Aaa |
5.84% in securities rated
Baa |
3.24% in securities rated
Caa |
0.10% in securities rated
D |
0.00% in securities rated
Aa |
23.93% in securities rated
Ba |
0.05% in securities rated
Ca |
6.86% in securities not
rated |
0.65% in securities rated
A |
17.77% in securities rated
B |
0.00% in securities rated
C |
• |
Commodity
Index-Linked Notes. Commodity index-linked notes expose the fund to
movements in commodity prices. They are also subject to credit,
counterparty, and interest rate risk. Commodity index-linked notes are
often leveraged. At the maturity of the note, the fund may receive more or
less principal than it originally invested. The fund may also receive
interest payments on the note that are less than the stated coupon
interest payments.
|
• |
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. |
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and medium sized companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Stock
Risk. Value stocks may continue to
be undervalued by the market for extended periods, including the entire
period during which the stock is held by a fund, or the events that
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
• |
Energy/Natural
Resources. A fund concentrating in
energy/natural resource companies may be affected by numerous factors,
including events occurring in nature, inflationary pressures,
international politics, the success of exploration projects, commodity
prices, energy conservation, taxes and other government regulations. In
addition, interest rates and general economic conditions may affect the
demand for energy/natural resources. For example, events occurring in
nature (such as earthquakes or fires in prime energy/natural resource
areas) and political events (such as coups, military confrontations or
acts of terrorism) can affect overall supply of energy/natural resources
and the value of companies involved in energy/natural
resources.
|
• |
Real
Estate.
A fund concentrating in the real
estate industry is subject to the risks associated with direct ownership
of real estate, securities of companies in the real estate industry,
and/or real estate investment trusts.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'11 |
7.04% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'15 |
(10.42)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1
Year |
5
Years |
Life of
Fund |
Class A
Return Before Taxes |
5.59% |
0.83% |
3.36% |
Class A
Return After Taxes on Distributions |
4.89% |
0.30% |
2.82% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
3.31% |
0.46% |
2.51% |
Class C
Return Before Taxes |
7.99% |
0.85% |
3.12% |
Institutional
Class Return Before Taxes |
10.17% |
1.99% |
4.29% |
Class R-3
Return Before Taxes |
9.55% |
1.46% |
3.75% |
Class R-4
Return Before Taxes |
9.84% |
1.66% |
3.95% |
Class R-5
Return Before Taxes |
9.97% |
1.79% |
4.08% |
Class R-6
Return Before Taxes |
10.24% |
2.01% |
4.29% |
Diversified Real Asset
Strategic Index (reflects no deduction for fees, expenses, or
taxes) |
10.38% |
1.62% |
3.29% |
Bloomberg Barclays U.S.
Treasury TIPS Index (reflects no deduction for fees, expenses, or
taxes) |
3.01% |
0.13% |
3.28% |
S&P Global Infrastructure
Index (reflects no deduction for fees, expenses, or taxes) |
19.07% |
8.30% |
7.19% |
S&P Global Natural
Resources Index (reflects no deduction for fees, expenses, or
taxes) |
21.98% |
1.89% |
1.43% |
Bloomberg Commodity Index
(reflects no deduction for fees, expenses, or taxes) |
1.70% |
(8.45)% |
(4.92)% |
FTSE EPRA/NAREIT Developed
Index (reflects no deduction for fees, expenses, or taxes) |
10.36% |
6.32% |
8.43% |
• |
Jake S. Anonson (since 2014),
Portfolio Manager |
• |
Jessica S. Bush (since 2014),
Portfolio Manager |
• |
Marcus W. Dummer (since 2014),
Portfolio Manager |
• |
Kelly A. Grossman (since
2010), Portfolio Manager |
• |
Benjamin E. Rotenberg (since
2014), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-3, R-4, R-5, and
R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Share
Class | ||
A |
Inst. | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
None |
Share
Class | ||
A |
Inst. | |
Management Fees |
0.65% |
0.65% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
N/A |
Other Expenses |
0.89% |
0.75% |
Acquired Fund Fees and
Expenses |
0.02% |
0.02% |
Total Annual
Fund Operating Expenses |
1.81% |
1.42% |
Expense Reimbursement
(1) |
(0.69)% |
(0.65)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.12% |
0.77% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.10% for Class A
and 0.75% for Institutional Class shares. It is expected that the expense
limits will continue through the period ending December 30, 2019; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$485 |
$858 |
$1,256 |
$2,367 |
Institutional
Class |
79 |
385 |
714 |
1,646 |
0.00% in securities rated
Aaa |
13.42% in securities rated
Baa |
4.29% in securities rated
Caa |
0.00% in securities rated
D |
0.00% in securities rated
Aa |
49.46% in securities rated
Ba |
0.05% in securities rated
Ca |
1.07% in securities not
rated |
0.00% in securities rated
A |
31.71% in securities rated
B |
0.00% in securities rated
C |
• |
Credit
Default Swaps. Credit default swaps involve special risks in
addition to those associated with swaps generally because they are
difficult to value, are highly susceptible to liquidity and credit risk,
and generally pay a return to the party that has paid the premium only in
the event of an actual default by the issuer of the underlying obligation
(as opposed to a credit downgrade or other indication of financial
difficulty). The protection “buyer” in a credit default contract may be
obligated to pay the protection “seller” an up-front payment or a periodic
stream of payments over the term of the contract provided generally that
no credit event |
• |
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
'16 |
4.35% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'15 |
(3.74)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2017 |
1
Year |
Life of
Fund |
Class A
Return Before Taxes |
(0.16)% |
1.23% |
Class A
Return After Taxes on Distributions |
(1.94)% |
(0.77)% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
(0.10)% |
0.00% |
Institutional
Class Return Before Taxes |
3.95% |
2.75% |
S&P/LSTA Leveraged Loan 100
Index (reflects no deduction for fees, expenses, or taxes) |
3.31% |
2.94% |
• |
Mark P. Denkinger (since
2014), Portfolio Manager |
• |
Jason Hahn (since 2014),
Portfolio Manager |
• |
Josh Rank (since 2014),
Portfolio Manager |
• |
Darrin E. Smith (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A |
Initial
Investment |
$1,000(1) |
A |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A |
Subsequent
Investments |
$100(1)(2) |
Institutional |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | ||
Inst. |
R-6 | |
Management Fees |
0.75% |
0.75% |
Distribution and/or Service
(12b-1) Fees |
N/A |
N/A |
Other Expenses |
0.03% |
0.06% |
Total Annual
Fund Operating Expenses |
0.78% |
0.81% |
Expense Reimbursement
(1)
|
—% |
(0.04)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.78% |
0.77% |
(1)
|
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.90% for
Institutional Class shares. In addition, for Class R-6, the expense limit
will maintain "Other Expenses" (expressed as a percent of average net
assets on an annualized basis) not to exceed 0.02%, (excluding interest
expense, expenses related to fund investments, acquired fund fees and
expenses, and other extraordinary expenses). It is expected that the
expense limits will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$80 |
$249 |
$433 |
$966 |
Class
R-6 |
79 |
255 |
446 |
998 |
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and medium sized companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Stock
Risk. Value stocks may continue to
be undervalued by the market for extended periods, including the entire
period during which the stock is held by a fund, or the events that
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'16 |
9.58% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q2
'17 |
1.99% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2017 |
1 Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
14.00% |
17.63% |
Institutional
Class Return After Taxes on Distributions |
13.73% |
16.62% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
8.15% |
13.37% |
Class R-6
Return Before Taxes |
14.77% |
17.96% |
Russell MidCap Index (reflects
no deduction for fees, expenses, or taxes) |
18.52% |
16.86% |
• |
Daniel R. Coleman (since
2015), Portfolio Manager |
• |
Theodore Jayne (since 2015),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
Objective: |
The Fund seeks to achieve
long-term capital appreciation with an emphasis on positive total returns
and managing volatility. |
Share
Class |
||||
A |
C |
Inst. |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
1.00% |
None |
None |
Share
Class |
||||
A |
C |
Inst. |
R-6 | |
Management Fees |
1.56% |
1.56% |
1.56% |
1.56% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
N/A |
Other Expenses: |
||||
Dividend and
Interest Expense on Short Sales |
0.54% |
0.54% |
0.54% |
0.54% |
Reverse
Repurchase Agreement Interest Expense |
0.04% |
0.04% |
0.04% |
0.04% |
Remainder of
Other Expenses (1) |
0.13% |
0.19% |
0.07% |
0.01% |
Total Other
Expenses |
0.71% |
0.77% |
0.65% |
0.59% |
Acquired Fund Fees and
Expenses |
0.04% |
0.04% |
0.04% |
0.04% |
Total Annual
Fund Operating Expenses |
2.56% |
3.37% |
2.25% |
2.19% |
Fee Waiver and Expense
Reimbursement (2)(3) |
(0.04)% |
(0.04)% |
(0.04)% |
(0.04)% |
Total Annual
Fund Operating Expenses after Fee Waiver and Expense
Reimbursement |
2.52% |
3.33% |
2.21% |
2.15% |
(1) |
Based on estimated amounts for
the current fiscal year (R-6). |
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s Management Fees through the period ending December 30, 2019. The
fee waiver will reduce the Fund's Management Fees by 0.04% (expressed as a
percent of average net assets on an annualized basis). It is expected that
the fee waiver will continue through the period disclosed; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the fee waiver prior to the end of the
period. |
(3) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 2.75% for Class C
and 1.63% for Institutional Class shares. In addition, for Class R-6, the
expense limit will maintain "Other Expenses" (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.02%, (excluding
interest expense, expenses related to fund investments, acquired fund fees
and expenses, and other extraordinary expenses). It is expected that the
expense limits will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$621 |
$1,138 |
$1,681 |
$3,159 |
Class
C |
436 |
1,032 |
1,752 |
3,655 |
Institutional
Class |
224 |
699 |
1,201 |
2,582 |
Class
R-6 |
218 |
681 |
1,171 |
2,521 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$336 |
$1,032 |
$1,752 |
$3,655 |
• |
Credit
Default Swaps.
Credit default swaps involve
special risks in addition to those associated with swaps generally because
they are difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). The protection “buyer” in a credit
default contract may be obligated to pay the protection “seller” an
up-front payment or a periodic stream of payments over the term of the
contract provided generally that no credit event on a reference obligation
has occurred. If a credit event occurs, the seller generally must pay the
buyer the “par value” (i.e., full notional value) of the swap in exchange
for an equal face amount of deliverable obligations of the reference
entity described in the swap, or the seller may be required to deliver the
related net cash amount, if the swap is cash settled. The Fund may be
either the buyer or seller in the transaction. |
• |
Currency
Contracts. Derivatives related to
currency contracts involve the specific risk of government action through
exchange controls that would restrict the ability of the fund to deliver
or receive currency.
|
• |
Forward
Contracts, Futures and Swaps. Forward contracts, futures,
and swaps involve specific risks, including: the imperfect correlation
between the change in market value of the instruments held by the fund and
the price of the forward contract, future or swap; possible lack of a
liquid secondary market for a forward contract, future or swap and the
resulting inability to close a forward contract, future or swap when
desired; counterparty risk; and if the fund has insufficient cash, it may
have to sell securities from its portfolio to meet daily variation margin
requirements. |
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and medium sized companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Stock
Risk. Value stocks may continue to
be undervalued by the market for extended periods, including the entire
period during which the stock is held by a fund, or the events that
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'12 |
2.81% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'15 |
(1.99)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1 Year |
5
Years |
Life of
Fund |
Class A
Return Before Taxes |
2.26% |
2.48% |
2.81% |
Class A
Return After Taxes on Distributions |
1.33% |
2.01% |
2.37% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
1.49% |
1.82% |
2.09% |
Class C
Return Before Taxes |
4.39% |
2.46% |
2.68% |
Institutional
Class Return Before Taxes |
6.59% |
3.64% |
3.82% |
Class R-6
Return Before Taxes |
6.56% |
3.63% |
3.79% |
HFRI (Hedge Fund Research Inc.)
Fund-of-Funds Composite Index (reflects no deduction for
taxes) |
7.77% |
4.00% |
3.93% |
• |
Jake S. Anonson (since 2014),
Portfolio Manager |
• |
Jessica S. Bush (since 2014),
Portfolio Manager |
• |
Marcus W. Dummer (since 2014),
Portfolio Manager |
• |
Kelly A. Grossman (since
2010), Portfolio Manager |
• |
Benjamin E. Rotenberg (since
2014), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||
A |
C |
Inst. | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
1.00% |
None |
Share
Class | |||
A |
C |
Inst. | |
Management Fees |
0.83% |
0.83% |
0.83% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
Other Expenses |
0.90% |
2.08% |
0.02% |
Total Annual
Fund Operating Expenses |
1.98% |
3.91% |
0.85% |
Expense Reimbursement
(1) |
(0.48)% |
(1.66)% |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.50% |
2.25% |
0.85% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.50% for Class
A, 2.25% for Class C and 0.85% for Institutional Class shares. It is
expected that the expense limits will continue through the period ending
December 30, 2019; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$694 |
$1,093 |
$1,517 |
$2,693 |
Class
C |
328 |
1,040 |
1,870 |
4,026 |
Institutional
Class |
87 |
271 |
471 |
1,049 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$228 |
$1,040 |
$1,870 |
$4,026 |
• |
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
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'13 |
9.11% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'15 |
(6.80)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1 Year |
5
Year |
Life of
Fund |
Class A
Return Before Taxes |
14.91% |
8.09% |
8.22% |
Class A
Return After Taxes on Distributions |
11.14% |
6.49% |
6.61% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
9.23% |
5.82% |
5.93% |
Class C
Return Before Taxes |
19.69% |
8.51% |
8.62% |
Institutional
Class Return Before Taxes |
22.31% |
10.06% |
10.18% |
MSCI All Country World Index
(ACWI) (reflects no deduction for fees, expenses, or
taxes) |
23.97% |
10.80% |
10.95% |
• |
Christopher Ibach (since
2012), Portfolio Manager |
• |
Xiaoxi Li (since 2012),
Portfolio Manager |
• |
Mustafa Sagun (since 2012),
Chief Investment Officer & Portfolio
Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||||||
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.25% |
0.25% |
0.25% |
0.25% |
0.25% |
0.25% |
0.25% |
Distribution and/or Service
(12b-1) Fees |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.07% |
0.59% |
0.51% |
0.38% |
0.34% |
0.32% |
0.07% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
0.33% |
1.20% |
1.07% |
0.89% |
0.70% |
0.58% |
0.33% |
Expense Reimbursement
(1)(2) |
(0.01)% |
N/A |
N/A |
N/A |
N/A |
N/A |
(0.03)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.32% |
1.20% |
1.07% |
0.89% |
0.70% |
0.58% |
0.30% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.31% for
Institutional Class shares. It is expected that the expense limit will
continue through the period ending December 30, 2019; however, Principal
Funds, Inc. and PGI, the parties to the agreement, may mutually agree to
terminate the expense limit prior to the end of the
period. | ||||||
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain "Other Expenses" (expressed as a percent of average net assets on
an annualized basis) not to exceed 0.02% for Class R-6 shares through the
period ending December 30, 2018 and 0.04% from December 31, 2018 through
the period ending December 30, 2019. (The table reflects the 0.04% limit
on "Other Expenses" for the entire period.) It is expected that the
expense limit will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$33 |
$105 |
$184 |
$417 |
Class
R-1 |
122 |
381 |
660 |
1,455 |
Class
R-2 |
109 |
340 |
590 |
1,306 |
Class
R-3 |
91 |
284 |
493 |
1,096 |
Class
R-4 |
72 |
224 |
390 |
871 |
Class
R-5 |
59 |
186 |
324 |
726 |
Class
R-6 |
31 |
103 |
182 |
415 |
• |
Futures.
Futures contracts involve specific
risks, including: the imperfect correlation between the change in market
value of the instruments held by the fund and the price of the futures
contract; possible lack of a liquid secondary market for a futures
contract and the resulting inability to close a futures contract when
desired; counterparty risk; and if the fund has insufficient cash, it may
have to sell securities from its portfolio to meet daily variation margin
requirements.
|
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Value Stock
Risk. Value stocks may continue to
be undervalued by the market for extended periods, including the entire
period during which the stock is held by a fund, or the events that
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'10 |
17.39% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'11 |
(20.25)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1 Year |
5
Years |
Life of
Fund |
Institutional
Class Return Before Taxes |
24.86% |
7.30% |
5.74% |
Institutional
Class Return After Taxes on Distributions |
23.87% |
5.93% |
4.77% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
14.92% |
5.63% |
4.54% |
Class R-1
Return Before Taxes |
23.79% |
6.36% |
4.81% |
Class R-2
Return Before Taxes |
23.92% |
6.51% |
4.94% |
Class R-3
Return Before Taxes |
24.17% |
6.69% |
5.14% |
Class R-4
Return Before Taxes |
24.36% |
6.90% |
5.34% |
Class R-5
Return Before Taxes |
24.58% |
7.03% |
5.47% |
Class R-6
Return Before Taxes |
24.76% |
7.22% |
5.66% |
MSCI EAFE NR Index (reflects no
deduction for fees, expenses, or taxes) |
25.03% |
7.90% |
6.31% |
• |
Thomas L. Kruchten (since
2011), Research Analyst and Portfolio
Manager |
• |
Jeffrey A. Schwarte (since
2016), Portfolio Manager |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||
A |
Inst. |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
None |
None |
Share
Class | |||
A |
Inst. |
R-6 | |
Management Fees |
1.04% |
1.04% |
1.04% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
N/A |
N/A |
Other Expenses |
1.63% |
0.04% |
0.05% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
2.93% |
1.09% |
1.10% |
Expense Reimbursement
(1)
(2) |
(1.32)% |
—% |
(0.01)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.61% |
1.09% |
1.09% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.60% for Class A
and 1.20% for Institutional Class shares. It is expected that the expense
limits will continue through the period ending December 30, 2019; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limits prior to the end of the
period. | ||||||
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain "Other Expenses" (expressed as a percent of average net assets on
an annualized basis) not to exceed 0.02% for Class R-6 shares through the
period ending December 30, 2018 and 0.04% from December 31, 2018 through
the period ending December 30, 2019. (The table reflects the 0.04% limit
on "Other Expenses" for the entire period.) It is expected that the
expense limit will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$705 |
$1,289 |
$1,898 |
$3,534 |
Institutional
Class |
111 |
347 |
601 |
1,329 |
Class
R-6 |
111 |
349 |
605 |
1,339 |
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and medium sized companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Stock
Risk. Value stocks may continue to
be undervalued by the market for extended periods, including the entire
period during which the stock is held by a fund, or the events that
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'17 |
9.36% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'15 |
(6.44)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1 Year |
Life of
Fund | |
Class A
Return Before Taxes |
28.09% |
6.93% | |
Class A
Return After Taxes on Distributions |
26.22% |
6.42% | |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
16.44% |
5.28% | |
Institutional
Class Return Before Taxes |
35.77% |
8.88% | |
Class R-6
Return Before Taxes |
36.19% |
8.69% | |
MSCI World ex USA Small Cap
Index (reflects no deduction for fees, expenses, or taxes) |
31.04% |
7.49% |
• |
Tiffany N. Lavastida (since
2014), Portfolio Manager |
• |
Brian W. Pattinson (since
2014), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A |
Initial
Investment |
$1,000(1) |
A |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A |
Subsequent
Investments |
$100(1)(2) |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital with lower volatility than the global equity
markets. |
Share
Class |
|||
A |
Inst. |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
None |
None |
Share
Class | |||
A |
Inst. |
R-6 | |
Management Fees |
1.57% |
1.57% |
1.57% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
N/A |
N/A |
Other Expenses: |
|||
Dividend and
Interest Expense on Short Sales |
0.82% |
0.82% |
0.82% |
Remainder of
Other Expenses |
28.04% |
29.56% |
0.06% |
Total Other
Expenses |
28.86% |
30.38% |
0.88% |
Acquired Fund Fees and
Expenses |
0.04% |
0.04% |
0.04% |
Total Annual
Fund Operating Expenses |
30.72% |
31.99% |
2.49% |
Expense Reimbursement
(1) |
(27.84)% |
(29.46)% |
(0.04)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
2.88% |
2.53% |
2.45% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 2.02% for Class A
and 1.67% for Institutional Class shares. In addition, for Class R-6, the
expense limit will maintain "Other Expenses" (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.02%, (excluding
interest expense, expenses related to fund investments, acquired fund fees
and expenses, and other extraordinary expenses). It is expected that the
expense limits will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$825 |
$5,327 |
$7,811 |
$10,178 |
Institutional
Class |
$256 |
$5,162 |
$7,777 |
$10,143 |
Class
R-6 |
$248 |
$772 |
$1,322 |
$2,823 |
• |
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. |
• |
Options.
Options involve specific risks,
including: imperfect correlation between the change in market value of the
instruments held by the fund and the price of the options, counterparty
risk, difference in trading hours for the options markets and the markets
for the underlying securities (rate movements can take place in the
underlying markets that cannot be reflected in the options markets), and
an insufficient liquid secondary market for particular
options.
|
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Small and
Medium Market Capitalization Companies. 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
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q3
'17 |
4.73% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q2
'17 |
0.68% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2017 |
1 Year |
Life of
Fund |
Class A
Return Before Taxes |
5.74% |
3.95% |
Class A
Return After Taxes on Distributions |
4.21% |
2.97% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
3.86% |
2.80% |
Institutional
Class Return Before Taxes |
12.06% |
7.71% |
Class R-6
Return Before Taxes |
12.21% |
7.79% |
HFRX Equity Hedge Index
(reflects no deduction for fees, expenses, or taxes) |
9.98% |
7.45% |
• |
Jake S. Anonson (since 2016),
Portfolio Manager |
• |
Jessica S. Bush (since 2016),
Portfolio Manager |
• |
Marcus W. Dummer (since 2016),
Portfolio Manager |
• |
Benjamin E. Rotenberg (since
2016), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A |
Initial
Investment |
$1,000(1) |
A |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A |
Subsequent
Investments |
$100(1)(2) |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide a
high level of income that is exempt from federal income tax while
protecting investors’ capital. |
Share
Class | |||
A |
C |
Inst. | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
1.00% |
None |
Share
Class | |||
A |
C |
Inst. | |
Management Fees |
0.50% |
0.50% |
0.50% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
Other Expenses: |
|||
Interest
Expenses |
0.06% |
0.06% |
0.06% |
Remainder of
Other Expenses |
0.14% |
0.25% |
0.23% |
Total Other Expenses
|
0.20% |
0.31% |
0.29% |
Total Annual
Fund Operating Expenses |
0.95% |
1.81% |
0.79% |
Expense Reimbursement
(1) |
—% |
(0.10)% |
(0.11)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.95% |
1.71% |
0.68% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.90% for Class
A,1.65% for Class C, and 0.62% for Institutional Class shares. It is
expected that the expense limits will continue through the period ending
December 30, 2019; however, Principal Funds, Inc. and PGI, the parties to
the agreement, may mutually agree to terminate the expense limits prior to
the end of the period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$468 |
$666 |
$881 |
$1,498 |
Class
C |
274 |
560 |
971 |
2,118 |
Institutional
Class |
69 |
241 |
428 |
968 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$174 |
$560 |
$971 |
$2,118 |
1.77% in securities rated
Aaa |
26.84% in securities rated
Baa |
1.05% in securities rated
Caa |
0.00% in securities rated
D |
13.02% in securities rated
Aa |
9.14% in securities rated
Ba |
0.00% in securities rated
Ca |
20.24% in securities not
rated |
19.77% in securities rated
A |
8.17% in securities rated
B |
0.00% in securities rated
C |
• |
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: |
Q1
'14 |
6.17% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'16 |
(6.58)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1 Year |
5
Year |
Life of
Fund |
Class A
Return Before Taxes |
6.04% |
3.77% |
4.62% |
Class A
Return After Taxes on Distributions |
6.04% |
3.77% |
4.60% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
5.05% |
3.76% |
4.44% |
Class C
Return Before Taxes |
8.30% |
3.77% |
4.54% |
Institutional
Class Return Before Taxes |
10.52% |
4.72% |
5.45% |
Bloomberg Barclays Municipal
Bond Index (reflects no deduction for fees, expenses, or
taxes) |
5.45% |
3.02% |
3.30% |
• |
James Noble (since 2012),
Portfolio Manager |
• |
James Welch (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks long-term
growth of capital. |
Share
Class | |||
A |
Inst. |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
None |
None |
Share
Class | |||
A |
Inst. |
R-6 | |
Management Fees |
1.19% |
1.19% |
1.19% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
N/A |
N/A |
Other Expenses |
4.22% |
0.05% |
0.04% |
Acquired Fund Fees and
Expenses |
0.01% |
0.01% |
0.01% |
Total Annual
Fund Operating Expenses |
5.67% |
1.25% |
1.24% |
Expense Reimbursement
(1)
(2) |
(3.91)% |
—% |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.76% |
1.25% |
1.24% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.75% for Class A
and 1.25% for Institutional Class shares. It is expected that the expense
limits will continue through the period ending December 30, 2019; however,
Principal Funds, Inc. and PGI, the parties to the agreement, may mutually
agree to terminate the expense limits prior to the end of the
period. | |||
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain "Other Expenses" (expressed as a percent of average net assets on
an annualized basis) not to exceed 0.02% for Class R-6 shares through the
period ending December 30, 2018 and 0.04% from December 31, 2018 through
the period ending December 30, 2019. (The table reflects the 0.04% limit
on "Other Expenses" for the entire period.) It is expected that the
expense limit will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$719 |
$1,818 |
$2,902 |
$5,550 |
Institutional
Class |
127 |
397 |
686 |
1,511 |
Class
R-6 |
126 |
393 |
681 |
1,500 |
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and medium sized companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Stock
Risk. Value stocks may continue to
be undervalued by the market for extended periods, including the entire
period during which the stock is held by a fund, or the events that
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'17 |
15.13% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'16 |
(9.91)% |
Average
Annual Total Returns |
|||
For the
periods ended December 31, 2017 |
1 Year |
Life of
Fund |
|
Class A
Return Before Taxes |
42.29% |
6.40% |
(1) |
Class A
Return After Taxes on Distributions |
42.45% |
6.43% |
(1) |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
24.37% |
5.09% |
(1) |
Institutional
Class Return Before Taxes |
51.03% |
8.30% |
|
Class R-6
Return Before Taxes |
51.04% |
8.29% |
|
MSCI Emerging Markets NR Index
(reflects no deduction for fees, expenses, or taxes) |
37.28% |
7.98% |
|
(1)
During 2015,
the Class experienced a significant withdrawal of monies by an affiliate.
As the remaining shareholders held relatively small positions, the total
return amounts expressed herein are greater than those that would have
been experienced without the
withdrawal. |
• |
John Birkhold (since 2015),
Partner |
• |
Chris Carter (since 2015),
Partner |
• |
Nigel Dutson (since 2015),
Partner |
• |
Tarlock Randhawa (since 2015),
Partner |
• |
Grace Tolley (since 2017),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A |
Initial
Investment |
$1,000(1) |
A |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A |
Subsequent
Investments |
$100(1)(2) |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide
current income. |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
None |
None |
None |
None |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
1.00% |
1.00% |
None |
None |
None |
None |
None |
None |
None |
Share
Class | ||||||||||
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 | |
Management Fees |
0.70% |
0.70% |
0.70% |
0.70% |
0.70% |
0.70% |
0.70% |
0.70% |
0.70% |
0.70% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
0.15% |
N/A |
0.35% |
0.30% |
0.25% |
0.10% |
N/A |
N/A |
Other Expenses |
0.11% |
0.11% |
0.18% |
0.07% |
0.53% |
0.45% |
0.32% |
0.28% |
0.26% |
0.02% |
Total Annual
Fund Operating Expenses |
1.06% |
1.81% |
1.03% |
0.77% |
1.58% |
1.45% |
1.27% |
1.08% |
0.96% |
0.72% |
Expense Reimbursement
(1) |
N/A |
N/A |
N/A |
—% |
N/A |
N/A |
N/A |
N/A |
N/A |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.06% |
1.81% |
1.03% |
0.77% |
1.58% |
1.45% |
1.27% |
1.08% |
0.96% |
0.72% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.81% for
Institutional Class shares. In addition, for Class R-6, the expense limit
will maintain "Other Expenses" (expressed as a percent of average net
assets on an annualized basis) not to exceed 0.02%, (excluding interest
expense, expenses related to fund investments, acquired fund fees and
expenses, and other extraordinary expenses). It is expected that the
expense limit will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$479 |
$700 |
$938 |
$1,621 |
Class
C |
284 |
569 |
980 |
2,127 |
Class
J |
205 |
328 |
569 |
1,259 |
Institutional
Class |
79 |
246 |
428 |
954 |
Class
R-1 |
161 |
499 |
860 |
1,878 |
Class
R-2 |
148 |
459 |
792 |
1,735 |
Class
R-3 |
129 |
403 |
697 |
1,534 |
Class
R-4 |
110 |
343 |
595 |
1,317 |
Class
R-5 |
98 |
306 |
531 |
1,178 |
Class
R-6 |
74 |
230 |
401 |
894 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$184 |
$569 |
$980 |
$2,127 |
Class
J |
105 |
328 |
569 |
1,259 |
0.00% in securities rated
Aaa |
65.05% in securities rated
Baa |
0.00% in securities rated
Caa |
0.00% in securities rated
D |
0.18% in securities rated
Aa |
20.84% in securities rated
Ba |
0.00% in securities rated
Ca |
1.04% in securities not
rated |
10.00% in securities rated
A |
2.89% in securities rated
B |
0.00% in securities rated
C |
• |
Financial
Services. A fund concentrating in
financial services companies may be more susceptible to adverse economic
or regulatory occurrences affecting financial services companies.
Financial companies may be adversely affected in certain market cycles,
including periods of rising interest rates, which may restrict the
availability and increase the cost of capital, and declining economic
conditions, which may cause credit losses due to financial difficulties of
borrowers. Because many types of financial companies are especially
vulnerable to these economic cycles, the Fund’s investments in these
companies may lose significant value during such periods. |
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'09 |
38.89% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'08 |
(20.97)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1 Year |
5 Years |
10
Years |
Class A
Return Before Taxes |
6.07% |
5.32% |
7.45% |
Class A
Return After Taxes on Distributions |
4.65% |
3.30% |
5.33% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
4.14% |
3.47% |
5.14% |
Class C
Return Before Taxes |
8.41% |
5.35% |
7.06% |
Class J
Return Before Taxes |
9.27% |
6.06% |
7.64% |
Institutional
Class Return Before Taxes |
10.50% |
6.45% |
8.18% |
Class R-1
Return Before Taxes |
9.66% |
5.57% |
7.28% |
Class R-2
Return Before Taxes |
9.77% |
5.73% |
7.42% |
Class R-3
Return Before Taxes |
9.91% |
5.91% |
7.61% |
Class R-4
Return Before Taxes |
10.14% |
6.10% |
7.81% |
Class R-5
Return Before Taxes |
10.35% |
6.24% |
7.95% |
Class R-6
Return Before Taxes |
10.52% |
6.38% |
8.08% |
ICE BofA Merrill Lynch U.S. All
Capital Securities Index (reflects no deduction for fees, expenses, or
taxes) |
10.55% |
6.82% |
N/A |
• |
Fernando (“Fred”) Diaz (since
2010), Portfolio Manager |
• |
Roberto Giangregorio (since
2010), Portfolio Manager |
• |
L. Phillip Jacoby, IV (since
2002), Chief Investment Officer and Portfolio
Manager |
• |
Manu Krishnan (since 2010),
Portfolio Manager |
• |
Mark A. Lieb (since 2009),
President and Chief Executive Officer |
• |
Kevin Nugent (since 2014),
Vice President and Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A, C, and
J |
Initial
Investment |
$1,000(1) |
A, C, and
J |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A, C, and
J |
Subsequent
Investments |
$100(1)(2) |
Institutional,
R-1, R-2, R-3, R-4, R-5 and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide
current income. |
Share
Class | |||
A |
Inst. |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
3.75% |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
None |
None |
Share
Class | |||
A |
Inst. |
R-6 | |
Management Fees |
0.55% |
0.55% |
0.55% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
N/A |
N/A |
Other Expenses |
3.27% |
0.04% |
0.09% |
Total Annual
Fund Operating Expenses |
4.07% |
0.59% |
0.64% |
Expense Reimbursement
(1) |
(3.07)% |
—% |
(0.07)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.00% |
0.59% |
0.57% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.00% for Class A
and 0.70% for Institutional Class shares. In addition, for Class R-6, the
expense limit will maintain "Other Expenses" (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.02%, (excluding
interest expense, expenses related to fund investments, acquired fund fees
and expenses, and other extraordinary expenses). It is expected that the
expense limits will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$473 |
$1,296 |
$2,133 |
$4,297 |
Institutional
Class |
60 |
189 |
329 |
738 |
Class
R-6 |
58 |
198 |
350 |
792 |
35.06% in securities rated
Aaa |
12.23% in securities rated
Baa |
1.31% in securities rated
Caa |
0.00% in securities rated
D |
10.62% in securities rated
Aa |
0.75% in securities rated
Ba |
0.00% in securities rated
Ca |
21.01% in securities not
rated |
12.48% in securities rated
A |
6.54% in securities rated
B |
0.00% in securities rated
C |
• |
Real
Estate. A fund concentrating in
the real estate industry is subject to the risks associated with direct
ownership of real estate, securities of companies in the real estate
industry, and/or real estate investment trusts.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q2
'16 |
4.05% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q4
'16 |
(2.78)% |
Average
Annual Total Returns | ||||
For the
periods ended December 31, 2017 |
1 Year |
Life of
Fund |
||
Class A
Return Before Taxes |
0.01% |
(1) |
0.58% |
(1) |
Class A
Return After Taxes on Distributions |
(1.31)% |
(1) |
(0.74)% |
(1) |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
0.00% |
(1) |
(0.16)% |
(1) |
Institutional
Class Return Before Taxes |
4.21% |
1.85% |
||
Class R-6
Return Before Taxes |
4.41% |
1.87% |
||
Bloomberg Barclays CMBS ERISA
Eligible Index (reflects no deduction for fees, expenses, or
taxes) |
3.35% |
2.54% |
||
(1)
During 2016,
the Class experienced a significant withdrawal of monies by an affiliate.
As the remaining shareholders held relatively small positions, the total
return amounts expressed herein are greater than those that would have
been experienced without the
withdrawal. |
• |
Scott M. Carson (since 2014),
Portfolio Manager |
• |
Marc Peterson (since 2014),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A |
Initial
Investment |
$1,000(1) |
A |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A |
Subsequent
Investments |
$100(1)(2) |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Objective: |
The Fund seeks to provide
current income and long-term growth of income and
capital. |
Share
Class | ||||
A |
C |
Inst. |
R-6 | |
Maximum Sales Charge (Load)
Imposed on Purchases (as a percentage of offering price) |
5.50% |
None |
None |
None |
Maximum Deferred Sales Charge
(Load) (as a percentage of the offering price or NAV at the time Sales
Load is paid, whichever is less) |
1.00% |
1.00% |
None |
None |
Share
Class | ||||
A |
C |
Inst. |
R-6 | |
Management Fees |
0.76% |
0.76% |
0.76% |
0.76% |
Distribution and/or Service
(12b-1) Fees |
0.25% |
1.00% |
N/A |
N/A |
Other Expenses |
0.16% |
0.16% |
0.13% |
0.02% |
Acquired Fund Fees and
Expenses |
0.23% |
0.23% |
0.23% |
0.23% |
Total Annual
Fund Operating Expenses |
1.40% |
2.15% |
1.12% |
1.01% |
Expense Reimbursement
(1)
|
(0.04)% |
(0.04)% |
(0.03)% |
—% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
1.36% |
2.11% |
1.09% |
1.01% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 1.13% for Class
A, 1.88% for Class C and 0.86% for Institutional Class shares. In
addition, for Class R-6, the expense limit will maintain "Other Expenses"
(expressed as a percent of average net assets on an annualized basis) not
to exceed 0.02%, (excluding interest expense, expenses related to fund
investments, acquired fund fees and expenses, and other extraordinary
expenses). It is expected that the expense limits will continue through
the period ending December 30, 2019; however, Principal Funds, Inc. and
PGI, the parties to the agreement, may mutually agree to terminate the
expense limits prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
A |
$681 |
$965 |
$1,270 |
$2,134 |
Class
C |
314 |
669 |
1,151 |
2,480 |
Institutional
Class |
111 |
353 |
614 |
1,360 |
Class
R-6 |
103 |
322 |
558 |
1,236 |
1
year |
3
years |
5
years |
10
years | |
Class
C |
$214 |
$669 |
$1,151 |
$2,480 |
• |
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
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'13 |
12.32% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q3
'15 |
(8.49)% |
Average
Annual Total Returns | |||
For the
periods ended December 31, 2017 |
1 Year |
5
Year |
Life of
Fund |
Class A
Return Before Taxes |
6.74% |
13.11% |
12.09% |
Class A
Return After Taxes on Distributions |
5.28% |
11.84% |
10.92% |
Class A
Return After Taxes on Distributions and Sale of Fund
Shares |
4.79% |
10.15% |
9.45% |
Class C
Return Before Taxes |
11.15% |
13.50% |
12.15% |
Institutional
Class Return Before Taxes |
13.30% |
14.82% |
13.50% |
Class R-6
Return Before Taxes |
13.35% |
14.78% |
13.43% |
Russell 2500 Value Index
(reflects no deduction for fees, expenses, or taxes) |
10.36% |
13.27% |
11.85% |
• |
Daniel R. Coleman (since
2011), Portfolio Manager |
• |
David W. Simpson (since 2011),
Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum
Per
Fund |
A and
C |
Initial
Investment |
$1,000(1) |
A and
C |
Initial Investment for accounts
with an Automatic Investment Plan (AIP) |
$100 |
A and
C |
Subsequent
Investments |
$100(1)(2) |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
(1) |
Some exceptions apply; see
"Purchase of Fund Shares - Minimum Investments" for more
information. |
(2) |
For accounts with an AIP, the
subsequent automatic investments must total $1,200 annually if the initial
$1,000 minimum has not been met. |
Share Class
| ||
Inst. |
R-6 | |
Management Fees |
0.60% |
0.60% |
Distribution and/or Service
(12b-1) Fees |
N/A |
N/A |
Other Expenses |
1.27% |
0.18% |
Total Annual
Fund Operating Expenses |
1.87% |
0.78% |
Expense Reimbursement
(1)(2) |
(1.12)% |
(0.14)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.75% |
0.64% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.75% for
Institutional Class shares. It is expected that the expense limit will
continue through the period ending December 30, 2019; however, Principal
Funds, Inc. and PGI, the parties to the agreement, may mutually agree to
terminate the expense limit prior to the end of the
period. |
(2) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain "Other Expenses" (expressed as a percent of average net assets on
an annualized basis) not to exceed 0.02% for Class R-6 shares through the
period ending December 30, 2018 and 0.04% from December 31, 2018 through
the period ending December 30, 2019. (The table reflects the 0.04% limit
on "Other Expenses" for the entire period.) It is expected that the
expense limit will continue through the period ending December 30, 2019;
however, Principal Funds, Inc. and PGI, the parties to the agreement, may
mutually agree to terminate the expense limit prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Institutional
Class |
$77 |
$479 |
$907 |
$2,099 |
Class
R-6 |
65 |
235 |
420 |
953 |
• |
Growth
Stock Risk.
If growth companies do not
increase their earnings at a rate expected by investors, the market price
of the stock may decline significantly, even if earnings show an absolute
increase. Growth company stocks also typically lack the dividend yield
that can lessen price declines in market downturns.
|
• |
Small and
Medium Market Capitalization Companies Risk. Investments in small and medium sized companies
may involve greater risk and price volatility than investments in larger,
more mature companies.
|
• |
Value Stock
Risk. Value stocks may continue to
be undervalued by the market for extended periods, including the entire
period during which the stock is held by a fund, or the events that
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q1
'17 |
7.32% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q1
'16 |
(2.80)% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2017 |
1 Year |
Life of
Fund |
Institutional
Class Return Before Taxes |
24.28% |
12.54% |
Institutional
Class Return After Taxes on Distributions |
23.20% |
11.84% |
Institutional
Class Return After Taxes on Distributions and Sale of Fund
Shares |
14.77% |
9.75% |
Class R-6
Return Before Taxes |
25.02% |
12.93% |
MSCI EAFE NR Index (reflects no
deduction for fees, expenses, or taxes) |
25.03% |
12.73% |
• |
Mark R. Nebelung (since 2015),
Portfolio Manager |
• |
Jeffrey A. Schwarte (since
2015), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
Institutional
and R-6 |
There are no minimum initial or
subsequent investment requirements for eligible purchases. |
N/A |
Share
Class | |
R-6 | |
Management Fees |
0.40% |
Distribution and/or Service
(12b-1) Fees |
N/A |
Other Expenses |
0.72% |
Total Annual
Fund Operating Expenses |
1.12% |
Expense Reimbursement
(1) |
(0.70)% |
Total Annual
Fund Operating Expenses after Expense Reimbursement |
0.42% |
(1) |
Principal Global Investors, LLC
("PGI"), the investment advisor, has contractually agreed to limit the
Fund’s expenses by paying, if necessary, expenses normally payable by the
Fund, (excluding interest expense, expenses related to fund investments,
acquired fund fees and expenses, and other extraordinary expenses) to
maintain a total level of operating expenses (expressed as a percent of
average net assets on an annualized basis) not to exceed 0.42% for R-6
shares. It is expected that the expense limit will continue through the
period ending December 30, 2019; however, Principal Funds, Inc. and PGI,
the parties to the agreement, may mutually agree to terminate the expense
limit prior to the end of the
period. |
1
year |
3
years |
5
years |
10
years | |
Class
R-6 |
$43 |
$286 |
$549 |
$1,300 |
• |
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
appears would cause the stock price to increase may not occur as
anticipated or at all. Moreover, a stock that appears to be undervalued
actually may be appropriately priced at a low level and therefore would
not be profitable for the fund.
|
Highest
return for a quarter during the period of the bar chart
above: |
Q4
'16 |
6.78% |
Lowest
return for a quarter during the period of the bar chart
above: |
Q2
'17 |
1.33% |
Average
Annual Total Returns | ||
For the
periods ended December 31, 2017 |
1 Year |
Life of
Fund |
Class R-6
Return Before Taxes |
15.17% |
15.66% |
Class R-6
Return After Taxes on Distributions |
14.52% |
14.73% |
Class R-6
Return After Taxes on Distributions and Sale of Fund
Shares |
9.13% |
11.85% |
Russell 1000 Value Index
(reflects no deduction for fees, expenses, or taxes) |
13.66% |
16.00% |
• |
Mark R. Nebelung (since 2015),
Portfolio Manager |
• |
Jeffrey A. Schwarte (since
2015), Portfolio Manager |
Share
Class |
Investment
Type |
Purchase
Minimum Per Fund |
R-6 |
There are no minimum initial or
subsequent investment requirements for eligible
purchasers. |
N/A |
INVESTMENT
STRATEGIES
AND
RISKS |
BLUE
CHIP |
BOND
MARKET
INDEX |
CAPITAL
SECURITIES |
DIVERSIFIED
REAL
ASSET |
DYNAMIC
FLOATING RATE HIGH INCOME |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Principal |
Cayman
Subsidiary |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
Contingent Convertible
Securities |
Not Applicable |
Not Applicable |
Principal |
Not Applicable |
Non-Principal |
Convertible
Securities |
Non-Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Principal |
Derivatives |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Principal |
Emerging
Markets |
Not Applicable |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
• Growth
Stock |
Principal |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
• Value
Stock |
Non-Principal |
Not Applicable |
Non-Principal |
Principal |
Non-Principal |
Fixed Income
Securities |
Non-Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Currency |
Principal |
Non-Principal |
Non-Principal |
Principal |
Non-Principal |
Foreign
Securities |
Principal |
Non-Principal |
Principal |
Principal |
Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Principal |
High Yield
Securities |
Not Applicable |
Not Applicable |
Principal |
Principal |
Principal |
Industry
Concentration |
Not Applicable |
Non-Principal(1) |
Principal |
Principal |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
Leverage |
Non-Principal |
Non-Principal |
Not Applicable |
Principal |
Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Not Applicable |
Principal |
Principal |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Principal |
Non-Principal |
Non-Principal |
Principal |
Preferred
Securities |
Non-Principal |
Not Applicable |
Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Non-Principal |
Non-Principal |
Principal |
Not
Applicable |
Real Estate
Securities |
Non-Principal |
Principal |
Non-Principal |
Principal |
Not
Applicable |
Redemption Risk |
Principal |
Principal |
Not Applicable |
Principal |
Not
Applicable |
Royalty Trusts |
Non-Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Not Applicable |
Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal |
Non-Principal |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Principal |
Not Applicable |
Principal |
Non-Principal |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
INVESTMENT
STRATEGIES
AND
RISKS |
EDGE
MIDCAP |
GLOBAL
MULTI-STRATEGY |
GLOBAL
OPPORTUNITIES |
INTERNATIONAL
EQUITY INDEX |
INTERNATIONAL
SMALL COMPANY |
Arbitrage
Trading |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Cayman
Subsidiary |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Not Applicable |
Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Derivatives |
Not Applicable |
Principal |
Non-Principal |
Principal |
Non-Principal |
Emerging
Markets |
Not Applicable |
Principal |
Principal |
Non-Principal |
Non-Principal |
Equity
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
• Growth
Stock |
Principal |
Principal |
Principal |
Principal |
Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Principal |
Principal |
Non-Principal |
Principal |
• Value
Stock |
Principal |
Principal |
Principal |
Principal |
Principal |
Fixed Income
Securities |
Non-Principal |
Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Foreign
Currency |
Principal |
Principal |
Principal |
Principal |
Principal |
Foreign
Securities |
Principal |
Principal |
Principal |
Principal |
Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Not Applicable |
Principal |
Non-Principal |
Not Applicable |
Non-Principal |
High Yield
Securities |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Non-Principal(1) |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Principal |
Not Applicable |
Principal |
Non-Principal |
Leverage |
Not Applicable |
Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Principal |
Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Redemption Risk |
Principal |
Principal |
Principal |
Principal |
Principal |
Royalty Trusts |
Non-Principal |
Non-Principal |
Non-Principal |
Not Applicable |
Not
Applicable |
Securitized
Products |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
INVESTMENT
STRATEGIES AND RISKS |
MULTI-MANAGER
EQUITY LONG/SHORT |
OPPORTUNISTIC
MUNICIPAL |
ORIGIN
EMERGING MARKETS |
PREFERRED
SECURITIES |
REAL ESTATE
DEBT INCOME |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate Interests) |
Non-Principal |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Cayman
Subsidiary |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Principal |
Not
Applicable |
Convertible
Securities |
Non-Principal |
Non-Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Counterparty
Risk |
Principal |
Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Derivatives |
Principal |
Principal |
Not Applicable |
Non-Principal |
Non-Principal |
Emerging
Markets |
Principal |
Not Applicable |
Principal |
Non-Principal |
Not
Applicable |
Equity
Securities |
Principal |
Not Applicable |
Principal |
Non-Principal |
Not
Applicable |
• Growth
Stock |
Principal |
Not Applicable |
Principal |
Non-Principal |
Not
Applicable |
• Small and Medium
Market Capitalization Companies |
Principal |
Not Applicable |
Principal |
Non-Principal |
Not
Applicable |
• Value
Stock |
Principal |
Not Applicable |
Principal |
Non-Principal |
Not
Applicable |
Fixed Income
Securities |
Non-Principal |
Principal |
Not Applicable |
Principal |
Principal |
Foreign
Currency |
Principal |
Not Applicable |
Principal |
Non-Principal |
Non-Principal |
Foreign
Securities |
Principal |
Not Applicable |
Principal |
Principal |
Non-Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Non-Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Principal |
Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
High Yield
Securities |
Non-Principal |
Principal |
Not Applicable |
Principal |
Non-Principal |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Principal |
Inverse Floating Rate
Investments |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Principal |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Leverage |
Principal |
Principal |
Not Applicable |
Non-Principal |
Not
Applicable |
Master Limited Partnerships
("MLPs") |
Non-Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Principal |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Not Applicable |
Principal |
Not Applicable |
Principal |
Principal |
Portfolio Turnover (Active
Trading) |
Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Principal |
Principal |
Real Estate Investment Trusts
("REITs") |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Principal |
Real Estate
Securities |
Non-Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Principal |
Redemption Risk |
Principal |
Not Applicable |
Principal |
Principal |
Principal |
Royalty Trusts |
Not Applicable |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
Securitized
Products |
Non-Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Principal |
Short Sales |
Principal |
Not Applicable |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Principal |
Not Applicable |
Principal |
Not
Applicable |
Volatility
Mitigation |
Principal |
Not Applicable |
Not Applicable |
Non-Principal |
Not
Applicable |
INVESTMENT
STRATEGIES
AND
RISKS |
SMALL-MIDCAP
DIVIDEND INCOME |
SYSTEMATEX
INTERNATIONAL |
SYSTEMATEX
LARGE VALUE |
Arbitrage
Trading |
Not Applicable |
Not Applicable |
Not
Applicable |
Bank Loans (also known as
Senior Floating Rate Interests) |
Not Applicable |
Not Applicable |
Not
Applicable |
Cayman
Subsidiary |
Not Applicable |
Not Applicable |
Not
Applicable |
Commodity-Related
Investments |
Not Applicable |
Not Applicable |
Not
Applicable |
Contingent Convertible
Securities |
Not Applicable |
Not Applicable |
Not
Applicable |
Convertible
Securities |
Principal |
Non-Principal |
Non-Principal |
Counterparty
Risk |
Not Applicable |
Non-Principal |
Non-Principal |
Derivatives |
Not Applicable |
Non-Principal |
Non-Principal |
Emerging
Markets |
Non-Principal |
Not Applicable |
Not
Applicable |
Equity
Securities |
Principal |
Principal |
Principal |
• Growth
Stock |
Non-Principal |
Principal |
Non-Principal |
• Small and Medium
Market Capitalization Companies |
Principal |
Principal |
Non-Principal |
• Value
Stock |
Principal |
Principal |
Principal |
Fixed Income
Securities |
Non-Principal |
Not Applicable |
Not
Applicable |
Foreign
Currency |
Principal |
Principal |
Not
Applicable |
Foreign
Securities |
Principal |
Principal |
Non-Principal |
Geographic Concentration
(Municipal Obligations) |
Not Applicable |
Not Applicable |
Not
Applicable |
Hedging |
Not Applicable |
Not Applicable |
Not
Applicable |
High Yield
Securities |
Not Applicable |
Not Applicable |
Not
Applicable |
Industry
Concentration |
Not Applicable |
Not Applicable |
Not
Applicable |
Inverse Floating Rate
Investments |
Not Applicable |
Not Applicable |
Not
Applicable |
Investment Company
Securities |
Non-Principal |
Non-Principal |
Non-Principal |
Leverage |
Not Applicable |
Not Applicable |
Not
Applicable |
Master Limited Partnerships
("MLPs") |
Principal |
Non-Principal |
Non-Principal |
Municipal Obligations and
AMT-Subject Bonds |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio
Duration |
Not Applicable |
Not Applicable |
Not
Applicable |
Portfolio Turnover (Active
Trading) |
Non-Principal |
Non-Principal |
Non-Principal |
Preferred
Securities |
Principal |
Non-Principal |
Non-Principal |
Real Estate Investment Trusts
("REITs") |
Principal |
Non-Principal |
Non-Principal |
Real Estate
Securities |
Principal |
Non-Principal |
Non-Principal |
Redemption Risk |
Principal |
Not Applicable |
Not
Applicable |
Royalty Trusts |
Principal |
Not Applicable |
Not
Applicable |
Securitized
Products |
Not Applicable |
Not Applicable |
Not
Applicable |
Short Sales |
Not Applicable |
Not Applicable |
Not
Applicable |
U.S. Government and U.S.
Government Sponsored Securities |
Not Applicable |
Not Applicable |
Not
Applicable |
Volatility
Mitigation |
Not Applicable |
Not Applicable |
Not
Applicable |
• |
The occurrence of a conversion
event is inherently unpredictable and depends on many factors, some of
which will be outside the issuer’s control. Because of the uncertainty
regarding whether a conversion event will occur, it may be difficult to
predict when, if at all, a CoCo will be converted to equity, and a fund
may suffer losses as a result. |
• |
CoCos may have no stated
maturity and fully discretionary coupons. This means coupon (i.e.,
interest) payments can be canceled at the banking institution’s discretion
or at the request of the relevant regulatory authority in order to help
the bank absorb losses, without causing a
default. |
• |
CoCos are usually issued in
the form of subordinated debt instruments to provide the appropriate
regulatory capital treatment. If an issuer liquidates, dissolves or
winds-up before a conversion to equity has occurred, the rights and claims
of the holders of the CoCos (such as a fund) against the issuer generally
rank junior to the claims of holders of unsubordinated obligations of the
issuer. In addition, if the CoCos are converted into the issuer’s
underlying equity securities after a conversion event (i.e., a “trigger”),
each holder will be further subordinated. |
• |
The value of CoCos is
unpredictable and is influenced by many factors including, without
limitation: the creditworthiness of the issuer and/or fluctuations in such
issuer’s applicable capital ratios; supply and demand for CoCos; general
market conditions and available liquidity; and economic, financial and
political events that affect the issuer, its particular market or the
financial markets in general. Moreover, the performance of CoCos may be
correlated with one another and as a result negative information of one
issuer may cause decline in the value of CoCos of many other
issuers. |
• |
increased volatility of a fund
and/or the failure of the investment to mitigate volatility as
intended; |
• |
the inability of those
managing investments of the fund to predict correctly the direction of
securities prices, interest rates, currency exchange rates, asset values,
and other economic factors; |
• |
losses caused by unanticipated
market movements, which may be substantially greater than a fund's initial
investment and are potentially unlimited; |
• |
the possibility that there may
be no liquid secondary market, which may make it difficult or impossible
to close out a position when desired; |
• |
the possibility that the
counterparty may fail to perform its obligations;
and |
• |
the inability to close out
certain hedged positions to avoid adverse tax
consequences. |
• |
Commodity Index-Linked Notes
are derivative debt instruments issued by U.S. and foreign banks,
brokerage firms, insurance companies and other corporations with principal
and/or coupon payments linked to the performance of commodity indices.
These notes expose a fund to movements in commodity prices. They are also
subject to credit, counterparty, and interest rate risk. Commodity
index-linked notes are often leveraged, increasing the volatility of each
note's market value relative to changes in the underlying commodity index.
At the maturity of the note, a fund may receive more or less principal
than it originally invested. A fund may also receive interest payments on
the note that are less than the stated coupon interest
payments. |
• |
Credit Default Swap Agreements
may be entered into by a fund as a "buyer" or "seller" of credit
protection. Credit default swap agreements involve special risks because
they may be difficult to value, are highly susceptible to liquidity and
credit risk, and generally pay a return to the party that has paid the
premium only in the event of an actual default by the issuer of the
underlying obligation (as opposed to a credit downgrade or other
indication of financial difficulty). Credit default swaps can increase
credit risk because a fund has exposure to both the issuer of the
referenced obligation and the counterparty to the credit default
swap. |
• |
Foreign Currency Contracts
(such as foreign currency options and foreign currency forward and swap
agreements) may be used by funds to increase exposure to a foreign
currency or to shift exposure to foreign currency fluctuations from one
country to another. A forward currency contract involves a privately
negotiated obligation to purchase or sell a specific currency at a future
date at a price set in the contract. For currency contracts, there is also
a risk of government action through exchange controls that would restrict
the ability of a fund to deliver or receive
currency. |
• |
Forwards, futures contracts
and options thereon (including commodities futures); options (including
put or call options); and swap agreements and over-the-counter swap
agreements (e.g., interest rate swaps, total return swaps and credit
default swaps) may be used by funds for hedging purposes in order to try
to mitigate or protect against potential losses due to changing interest
rates, securities prices, asset values, currency exchange rates, and other
market conditions; non-hedging purposes to seek to increase the fund’s
income or otherwise enhance return; and as a low-cost method of gaining
exposure to a particular market without investing directly in those
securities or assets. These derivative investments are subject to special
risk considerations, particularly the imperfect correlation between the
change in market value of the instruments held by a fund and the price of
the derivative instrument. If a fund has insufficient cash, it may have to
sell securities from its portfolio to meet daily variation margin
requirements, even when it may be disadvantageous to do so. Options and
Swap Agreements also involve counterparty risk. With respect to options,
there may be 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.
|
• |
Index/structured securities.
Certain derivative securities are described more accurately as
index/structured securities, which are derivative securities whose value
or performance is linked to other equity securities (such as depositary
receipts), currencies, interest rates, indices, or other financial
indicators (reference indices). |
• |
increased social, political,
and economic instability; |
• |
a smaller market for these
securities and low or nonexistent trading volume that results in a lack of
liquidity and greater price volatility; |
• |
lack of publicly available
information, including reports of payments of dividends or interest on
outstanding securities; |
• |
foreign government policies
that may restrict opportunities, including restrictions on investment in
issuers or industries deemed sensitive to national
interests; |
• |
relatively new capital market
structure or market-oriented economy; |
• |
the possibility that recent
favorable economic developments may be slowed or reversed by unanticipated
political or social events in these
countries; |
• |
restrictions that may make it
difficult or impossible for a fund to vote proxies, exercise shareholder
rights, pursue legal remedies, and obtain judgments in foreign courts;
and |
• |
possible losses through the
holding of securities in domestic and foreign custodial banks and
depositories. |
Fund |
Total
Percentage
of
Outstanding
Shares
Owned |
Blue Chip Fund |
88.33% |
Bond Market Index
Fund |
85.47% |
Diversified Real Asset
Fund |
25.21% |
EDGE MidCap
Fund |
99.55% |
Global Multi-Strategy
Fund |
46.28% |
Global Opportunities
Fund |
98.06% |
International Equity Index
Fund |
50.24% |
International Small Company
Fund |
99.53% |
Multi-Manager Equity Long/Short
Fund |
44.59% |
Origin Emerging Markets
Fund |
67.39% |
Preferred Securities
Fund |
7.31% |
Real Estate Debt Income
Fund |
98.31% |
Small-MidCap Dividend Income
Fund |
18.84% |
• |
Mortgage-backed
securities (“MBS”) represent an interest in a pool of underlying mortgage
loans secured by real property. MBS are sensitive to changes in interest
rates, but may respond to these changes differently from other fixed
income securities due to the possibility of prepayment of the underlying
mortgage loans. If interest rates fall and the underlying loans are
prepaid faster than expected, the fund may have to reinvest the prepaid
principal in lower yielding securities, thus reducing the fund’s income.
Conversely, rising interest rates tend to discourage refinancings and the
underlying loans may be prepaid more slowly than expected, reducing a
fund’s potential to reinvest the principal in higher yielding securities
and extending the duration of the underlying loans. In addition, when
market conditions result in an increase in default rates on the underlying
loans and the foreclosure values of the underlying real estate is less
than the outstanding amount due on the underlying loan, collection of the
full amount of accrued interest and principal on these investments may be
doubtful. The risk of such defaults is generally higher in the case of
underlying mortgage pools that include sub-prime mortgages (mortgages
granted to borrowers whose credit histories would not support conventional
mortgages). |
• |
Commercial
mortgage-backed securities (“CMBS”) represent an interest in a pool of
underlying commercial mortgage loans secured by real property such as
retail, office, hotel, multi-family, and industrial properties. Certain
CMBS are issued in several classes with different levels of yield and
credit protection, and the CMBS class in which a fund invests usually
influences the interest rate, credit, and prepayment
risks. |
• |
Asset-backed
securities (“ABS”) are backed by non-mortgage assets such as company
receivables, truck and auto loans, student loans, leases and credit card
receivables. ABS entail credit risk. They also may present a risk that, in
the event of default, the liquidation value of the underlying assets may
be inadequate to pay any unpaid interest or principal.
|
Advisor: |
Principal
Global Investors, LLC (“PGI”), 711 High Street, Des Moines,
IA 50392, is part of a diversified global asset management organization
which utilizes a multi-boutique strategy of specialized investment groups
and affiliates to provide institutional investors and individuals with
diverse investment capabilities, including fixed income, equities, real
estate, currency, asset allocation and stable value. PGI also has asset
management offices of affiliate advisors in non-U.S. locations including
London, Singapore, Tokyo, Hong Kong and Sydney. PGI has been an investment
advisor since 1998. |
Funds: |
In fulfilling its investment
advisory responsibilities, PGI provides day-to-day discretionary
investment services (directly making decisions to purchase or sell
securities) for the following Funds: |
– |
Blue Chip (services provided
by "Aligned Investors", a specialized boutique of
PGI) |
– |
a portion of Diversified Real
Asset (one or more strategies that seek to track the performance of an
index related to a particular sector or asset
class) |
– |
Dynamic Floating Rate High
Income |
– |
EDGE MidCap (services provided
by "Edge Asset Management", a specialized boutique of
PGI) |
– |
Global
Opportunities |
– |
International Equity
Index |
– |
International Small
Company |
– |
Opportunistic
Municipal |
– |
Small-MidCap Dividend Income
(services provided by "Edge Asset Management", a specialized boutique of
PGI) |
– |
SystematEx
International |
– |
SystematEx Large Value
|
Sub-Advisor: |
AQR Capital
Management, LLC (“AQR”), Two Greenwich Plaza,
4th Floor, Greenwich, CT 06830,
formed in 1998, is an investment management firm that employs a
disciplined multi-asset global research process.
|
Funds: |
a portion of Global
Multi-Strategy. AQR may use any of the Fund’s investment strategies,
including investments through the Fund’s Cayman Subsidiary.
|
Sub-Advisor: |
Ascend
Capital, LLC (“Ascend”), 4 Orinda Way, Suite 200-C,
Orinda, California 94563, has been an SEC-registered investment advisor
since 2006. |
Fund: |
a portion of Global
Multi-Strategy. Ascend will primarily use the equity long/short strategy;
however, it may use any of the Fund’s investment
strategies. |
Sub-Advisor: |
BlackRock
Financial Management, Inc. (“BlackRock”), 55 East 52nd Street, New
York, New York 10055, is a registered investment adviser organized in
1994. BlackRock and its affiliates manage investment company and other
portfolio assets. |
Sub-Advisor: |
BNP PARIBAS
ASSET MANAGEMENT USA, Inc.
("BNP"), 200 Park
Avenue, 11th Floor, New York, NY 10166, was founded
in 1972 and
became a U.S. registered investment advisor with the Securities and
Exchange Commission in 1975. |
Fund: |
a portion of
Diversified Real Asset (currency
strategy) |
Sub-Advisor:
|
BNY Mellon
Asset Management North America Corporation (“BNY Mellon AMNA”), BNY Mellon Center, One
Boston Place, Boston, MA 02108, is a multi-asset investment adviser
providing clients with a wide range of investment solutions.
|
Fund(s): |
Bond Market Index and a
portion of Diversified Real Asset (a portion of the natural resources
strategy) |
Sub-Advisor: |
CNH
Partners, LLC (“CNH”), Two Greenwich Plaza,
Greenwich, CT 06830, is a merger arbitrage, convertible arbitrage and
diversified arbitrage research affiliate of
AQR. |
Fund: |
a portion
of Global
Multi-Strategy. CNH may use any of the Fund’s investment strategies,
including investments through the Fund’s Cayman Subsidiary.
|
Sub-Advisor: |
Credit
Suisse Asset Management, LLC (“Credit Suisse”), One Madison Avenue, New
York, NY, 10010, is the New York-based Registered Investment Adviser of
Credit Suisse Asset Management (CSAM). CSAM, which is part of the
International Wealth Management Division of Credit Suisse Group AG, is a
global asset manager with a focus on Alternative Investments and select
Traditional Investments. |
Fund: |
a portion of Diversified Real
Asset (commodity index-linked notes and, indirectly through a Cayman
subsidiary, commodity derivatives) |
Sub-Advisor: |
Finisterre
Capital LLP (“Finisterre”), 10 New Burlington Street,
London, England W1S 3BE, manages emerging market assets for a variety of
investors. |
Fund: |
a portion of Global
Multi-Strategy. Finisterre will primarily use the credit/distressed
strategy; however, it may use any of the Fund’s investment
strategies |
Sub-Advisor:
|
Gotham
Asset Management, LLC (“Gotham”), 535 Madison Avenue, 30th
Floor, New York, NY 10022, is a registered investment adviser that manages
long/short and long-only investment
strategies. |
Fund:
|
a portion of Multi-Manager
Equity Long/Short |
Sub-Advisor: |
Graham
Capital Management, L.P. (“Graham”), 40 Highland Avenue,
Rowayton, Connecticut, 06853, founded in 1994, is an investment management
firm that focuses on global macro-oriented
strategies. |
Fund: |
a portion of Global
Multi-Strategy. Graham will primarily use the global macro strategy;
however, it may use any of the Fund’s investment strategies.
|
Sub-Advisor: |
KLS
Diversified Asset Management LP (“KLS”), 452 Fifth Avenue,
22nd Floor, New York, NY
10018,
has been an
SEC-registered investment advisor since
2011. |
Fund: |
a portion of Global
Multi-Strategy (market neutral strategy) |
Sub-Advisor: |
Loomis,
Sayles & Company, L.P. (“Loomis Sayles”), One Financial Center, Boston,
Massachusetts 02111, is an investment advisory firm that was founded in
1926. |
Fund: |
a portion of Global
Multi-Strategy (credit/distressed
strategy) |
Sub-Advisor: |
Los Angeles
Capital Management and Equity Research, Inc. ("Los Angeles
Capital"), 11150
Santa Monica Boulevard, Suite 200, Los Angeles, CA 90025, founded in 2002,
is a registered investment adviser offering risk-controlled, active equity
management services to a broad range of institutional
investors. |
Fund: |
a portion of Global
Multi-Strategy. Los Angeles Capital will primarily use the equity
long/short strategy; however, it may use any of the Fund’s investment
strategies. |
Sub-Advisor: |
Macquarie
Capital Investment Management LLC (“Macquarie”), 125 West 55th Street, New York, NY 10019,
founded in 2004, is a registered investment advisor that is dedicated to
the management of infrastructure securities
accounts. |
Fund: |
a portion of Diversified Real
Asset (infrastructure strategy) |
Sub-Advisor: |
Origin
Asset Management LLP (“Origin”), One Carey Lane, London, EC2V
8AE, UK manages global equity securities for institutional
clients. |
Fund: |
Origin Emerging
Markets |
Sub-Advisor: |
Pictet
Asset Management SA (“Pictet”), 60 Route Des Acacias, Geneva,
Switzerland 1211-73, is authorized and regulated by the FINMA in
Switzerland and the SEC in the U.S. and has been an investment advisor
since 2006. Pictet provides asset management services for institutional
investors and investment funds. |
Fund: |
a portion of
Diversified Real Asset (natural resources
strategy) |
Sub-Advisor: |
Principal
Real Estate Investors, LLC (“Principal - REI”), 711 High Street, Des Moines,
IA 50392, was founded in 2000 and manages commercial real estate across
the spectrum of public and private equity and debt investments, primarily
for institutional investors. |
Funds:
|
a portion of Diversified Real
Asset (real estate strategy) |
Sub-Advisor: |
RARE
Infrastructure (North America) Pty Limited (“RARE”), Level 13, 35 Clarence
Street, Sydney, Australia 2000, is a registered investment adviser founded
in 2009 and specializes solely in global infrastructure.
|
Fund: |
a portion of Diversified Real
Asset (infrastructure strategy) |
Sub-Advisor: |
Sirios
Capital Management, L.P. ("Sirios"), One International Place,
30th Floor, Boston, MA 02110, is a fundamental, bottom-up research-driven
investment firm founded in 1999. |
Fund: |
a portion of Multi-Manager
Equity Long/Short |
Sub-Advisor:
|
Sound Point
Capital Management, LP (“Sound Point”), 375 Park Avenue, 33rd Floor,
New York, NY 10152, founded in 2009, is a registered investment advisor
that provides investment advice and portfolio management
services. |
Fund: |
a portion of Global
Multi-Strategy. Sound Point will primarily use the credit/distressed
strategy; however, it may use any of the Fund’s investment
strategies. |
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. |
Funds: |
Capital
Securities |
Sub-Advisor: |
Symphony
Asset Management LLC (“Symphony”), 555 California Street, Suite
3100, San Francisco, CA 94104-1534, is a diversified alternative
investment manager and was founded in
1994. |
Fund: |
a portion of Diversified Real
Asset (floating rate debt strategy) |
Sub-Advisor: |
Three
Bridges Capital, LP ("Three Bridges"), 810 7th Avenue, 32nd Floor,
New York, NY 10019, is an independent, specialist investment management
firm focused on European Equities, founded in 2011 by Gene
Salamon. |
Fund: |
a portion of Multi-Manager
Equity Long/Short |
Sub-Advisor: |
Tortoise
Capital Advisors, L.L.C. ("Tortoise"), 11550 Ash Street, Suite 300,
Leawood, Kansas 66211, formed in October 2002, specializes in essential
assets investing. |
Fund: |
a portion of Diversified Real
Asset (master limited partnership
strategy) |
Sub-Advisor: |
Wellington
Management Company LLP (“Wellington”) has its principal offices at
280 Congress Street, Boston, Massachusetts 02210. Wellington is a
professional investment counseling firm that provides investment services
to investment companies, employee benefit plans, endowments, foundations,
and other institutions. |
Fund: |
a portion of Global
Multi-Strategy. Wellington will primarily use the equity long/short
strategy; however, it may use any of the Fund’s investment
strategies. |
Sub-Advisor: |
York
Registered Holdings, L.P. (“York”), 767 Fifth Avenue, 17th Floor,
New York, NY 10153, was formed in 2012 as part of a group of companies
established in 1991 that manages capital across various strategies. York
and certain of its affiliates manage capital for hedge funds, private
equity funds, mutual funds, UCITS III-compliant funds and separately
managed accounts for institutional
investors. |
Fund: |
a portion of Global
Multi-Strategy. York will primarily use the event-driven strategy;
however, it may use any of the Fund’s investment
strategies. |
Management
Fee Schedule (as a percentage of the average daily net assets) | ||
Fund |
All
Assets | |
Capital
Securities |
0.00% (1) |
(1) |
The table reflects that
Principal Global Investors, LLC ("PGI"), the investment advisor, is
absorbing all expenses of the Capital Securities Fund. You should be
aware, however, that the Capital Securities Fund is an integral part of
"wrap-fee" programs, including those sponsored by registered investment
advisors and broker-dealers unaffiliated with the Capital Securities Fund.
Participants in these programs pay a “wrap” fee to the wrap-fee program's
sponsor ("Sponsor"). You should read carefully the wrap-fee brochure
provided to you by your Sponsor or your registered investment advisor. The
brochure is required to include information about the fees charged to you
by the Sponsor and the fees the Sponsor pays to your registered investment
advisor. |
Blue Chip Fund |
0.68 |
% |
Bond Market Index
Fund |
0.25 |
% |
Capital Securities
Fund |
0.00 |
% |
Diversified Real Asset
Fund |
0.80 |
% |
Dynamic Floating Rate High
Income Fund |
0.65 |
% |
EDGE MidCap
Fund |
0.75 |
% |
Global Multi-Strategy
Fund |
1.56 |
% |
Global Opportunities
Fund |
0.83 |
% |
International Equity Index
Fund |
0.25 |
% |
International Small Company
Fund |
1.04 |
% |
Multi-Manager Equity Long/Short
Fund |
1.57 |
% |
Opportunistic Municipal
Fund |
0.50 |
% |
Origin Emerging Markets
Fund |
1.19 |
% |
Preferred Securities
Fund |
0.70 |
% |
Real Estate Debt Income
Fund |
0.55 |
% |
Small-MidCap Dividend Income
Fund |
0.76 |
% |
SystematEx International
Fund |
0.60 |
% |
SystematEx Large Value
Fund |
0.40 |
% |
Semi-Annual
Report to Shareholders
for the
period ending February 28, 2018 | ||
Fund |
Management
Agreement |
Sub-Advisory
Agreement |
All Funds |
X |
X |
• |
hire one or more Sub-Advisors;
|
• |
change Sub-Advisors; and
|
• |
reallocate management fees
between itself and Sub-Advisors. |
• |
on a day that the NYSE is open
and |
• |
before the close of trading on
the NYSE (normally 3:00 p.m. Central
Time). |
• |
taking the current market
value of the total assets of the Fund |
• |
subtracting liabilities of the
Fund |
• |
dividing the remainder
proportionately into the classes of the
Fund |
• |
subtracting the liability of
each class |
• |
dividing the remainder by the
total number of shares outstanding for that
class. |
• |
If market quotations are not
readily available for a security owned by a Fund, its fair value is
determined using a policy adopted by the Directors. Fair valuation pricing
is subjective and creates the possibility that the fair value determined
for a security may differ materially from the value that could be realized
upon the sale of the security. |
• |
A Fund's securities may be
traded on foreign securities markets that generally complete trading at
various times during the day before the close of the NYSE. Foreign
securities and currencies are converted to U.S. dollars using the exchange
rate in effect at the close of the NYSE. Securities traded outside of the
Western Hemisphere are |
• |
The trading of foreign
securities generally or in a particular country or countries may not take
place on all days the NYSE is open, or may trade on days the NYSE is
closed. Thus, the value of the foreign securities held by the Fund may
change on days when shareholders are unable to purchase or redeem
shares. |
• |
Certain securities issued by
companies in emerging market countries may have more than one quoted
valuation at any point in time. These may be referred to as local price
and premium price. The premium price is often a negotiated price that may
not consistently represent a price at which a specific transaction can be
effected. The Fund has a policy to value such securities at a price at
which the Advisor expects the securities may be sold.
|
Regular Mail |
Overnight
Mail |
Principal
Funds |
Principal
Funds |
P.O. Box 8024 |
30 Dan Road |
Boston, MA
02266-8024 |
Canton, MA
02021-2809 |
• |
Shareholders, including those
in omnibus accounts, who own shares of the Fund as of December 1, 2016
(for retail investors, i.e., non-employer sponsored retirement plan
investors) or January 6, 2017, (for employer sponsored retirement plan and
IRA investors), may continue to make purchases, exchanges, and dividend or
capital gains reinvestment in existing
accounts. |
• |
Registered Investment Advisor
(RIA) and bank trust firms that have an investment allocation to the
Small-MidCap Dividend Income Strategy (i.e. investments in the same
strategy used in collective investment trust, insurance separate
|
• |
Shareholders through accounts
at private banks may continue to purchase shares and exchange into the
Fund. Private Banks that have an investment allocation to the Small-MidCap
Dividend Income Strategy may add new clients to the Fund. The Fund will
not be available to private bank or private bank platforms not already
investing in the Small-MidCap Dividend Income
Strategy. |
• |
Shareholders in broker/dealer
wrap or fee-based programs that have an investment allocation to the Fund
may continue to purchase shares and exchange into the Fund. Existing
broker/dealer wrap or fee-based programs may add new
participants. |
• |
Shareholders in certain types
of retirement plans (including 401(k)s, SEPs, SIMPLEs, 403(b)s, etc.) may
continue to purchase shares and exchange into the Fund. New participants
in these plans may elect to purchase shares of the
Fund. |
• |
Retirement plans in transition
as of the closure date will have until January 6, 2017, to fund any new
accounts in the Fund. |
• |
Shareholders within brokerage
accounts may continue to purchase shares of the Fund; however, new
brokerage accounts will not be permitted to begin investing in the Fund
after December 1, 2016. |
• |
529 plans that include the
Fund within their investment options may continue to purchase shares and
exchange into the Fund. |
• |
Investors who have a direct
investment in the Small-MidCap Dividend Income Strategy may, subject to
the approval of the Distributor, purchase shares in the
Fund. |
•
|
Principal Securities, Inc.
("PSI") who are also employees of Principal Life distribution channels
used to directly market certain products and services of subsidiaries of
Principal Financial Group, Inc. as well as provide retirement plan
services and education on topics such as investing and retirement. These
PSI registered representatives are with Principal Connection (part of
Principal Bank), and |
• |
Selected broker-dealers that
have entered into a selling agreement to offer Class J
shares. |
Eligible
purchasers currently include, but are not limited to: |
Institutional |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 |
retirement and pension plans to
which Principal Life Insurance Company (“Principal Life”) provides
recordkeeping services |
X |
X |
X |
X |
X |
X |
X |
separate accounts of Principal
Life |
X |
X |
X |
X |
X |
X |
X |
Principal Life or any of its
subsidiaries or affiliates |
X |
X |
X |
X |
X |
X |
X |
any fund distributed by PFD if
the fund seeks to achieve its investment objective by investing primarily
in shares of mutual funds |
X |
X |
X |
X |
X |
X |
X |
clients of Principal Global
Investors, LLC |
X |
X |
X |
X |
X |
X |
X |
certain employer sponsored
retirement plans with plan level omnibus accounts |
X |
X |
X |
X |
X |
X |
X |
certain pension plans and
employee benefit plans |
X |
X |
X |
X |
X |
X |
X |
certain retirement account
investment vehicles administered by foreign or domestic pension
plans |
X |
X |
X |
X |
X |
X |
X |
an investor who buys shares
through an omnibus account with certain intermediaries, such as a
broker-dealer, bank, or other financial institution, pursuant to a written
agreement between the intermediary and PFD or its
affiliate |
X |
X |
X |
X |
X |
X |
X |
certain retirement plan clients
that have an organization, approved by Principal Life, for purposes of
providing plan recordkeeping services |
X |
X |
X |
X |
X |
X |
X |
investors investing at least
$1,000,000 per fund |
X |
X | |||||
sponsors, recordkeepers, or
administrators of wrap account, mutual fund asset allocation, or fee-based
programs or participants in those programs |
X |
X | |||||
certain institutional investors
that provide recordkeeping for retirement plans or other employee benefit
plans |
X |
X | |||||
institutional clients that
Principal Life has approved for purposes of providing plan
recordkeeping |
X |
X | |||||
institutional investors
investing for their own account, including banks, trust companies,
financial intermediaries, corporations, endowments and
foundations |
X |
X | |||||
collective trust funds, fund of
funds or other pooled investment vehicles, and entities acting for the
account of a public entity |
X |
X | |||||
certain clients of a private
banking division pursuant to a written agreement between the bank and PFD
or its affiliate |
X |
X | |||||
the portfolio manager of any
adviser to the fund |
X |
X | |||||
certain institutional investors
with special arrangements (for example, insurance companies, employee
benefit plans, retirement plans, and Section 529 Plans, among
others) |
X |
X | |||||
retirement plans and IRAs
investing through a retirement marketplace enabled by state
legislation |
X |
• |
lump sum of the entire
interest in the account, |
• |
partial interest in the
account, or |
• |
periodic payments of either a
fixed amount or an amount based on certain life expectancy
calculations. |
• |
payable to all owners on the
account (as shown in the account registration)
and |
• |
mailed to the address on the
account (if not changed within last 15 days) or sent by wire or ACH
to previously authorized U.S. bank account.
|
• |
when an owner has
died; |
• |
for certain employee benefit
plans; or |
• |
owned by corporations,
partnerships, agents, or fiduciaries. |
• |
Send a letter or our
distribution form which is signed by an owner of the account,
|
• |
Specify the account number,
and |
• |
Specify the number of shares
or the dollar amount to be sold. |
• |
The request may be made by a
shareholder or by the shareholder’s Financial
Professional. |
• |
The combined amount requested
from all funds to which the redemption request relates is $100,000 or
less. |
• |
The address on the account
must not have been changed within the last 15 days and telephone
privileges must apply to the account from which the shares are being
sold. |
• |
If previously authorized, wire
or ACH can be sent to a shareholder’s U.S. bank
account. |
• |
If our phone lines are busy or
our website is unavailable, you may need to send in a written sell
order. |
• |
completing the applicable
section of the application, |
• |
sending us your written
instructions, |
• |
completing a Systematic
Withdrawal Plan Request form, or |
• |
calling us if you have
telephone privileges on the account (telephone privileges may not be
available for all types of accounts). |
• |
you instruct us to stop
or |
• |
your Fund account balance is
zero. |
• |
Send a letter or our
distribution form which is signed by an owner of the account,
|
• |
Specify the account number,
and |
• |
Specify the number of shares
or the dollar amount to be sold. |
• |
Telephone privileges must
apply to the account from which the shares are
sold. |
• |
A shareholder or the
shareholder’s Financial Professional may request to sell shares by
telephone. |
• |
A maximum amount (listed
below) of redemption requests will be permitted per day per account, as
the combined amount from all funds, provided the proceeds are to be sent
to a previously authorized U.S. bank
account: |
• |
A maximum of $500,000 of
redemption requests will be permitted per day, as the combined amount from
all funds, provided the proceeds are to be sent by check through the mail
to the address on the account and such address must not have changed
within the last 15 days. |
• |
If our telephone lines are
busy, you may need to send in a written sell
order. |
• |
sending a written request to
Principal Funds, |
• |
using our website,
or |
• |
calling us, if you have
telephone privileges on the account. |
• |
Class A shares of other
Funds. |
• |
If Money Market Fund shares
were acquired by direct purchase, a sales charge will be imposed on the
exchange into other Class A shares. |
• |
If Money Market Fund shares
were acquired by (1) exchange from other Funds, (2) conversion
of Class B shares, or (3) reinvestment of dividends earned on
Class A shares that were acquired through exchange, no sales charge
will be imposed on the exchange into other Class A
shares. |
• |
Class C shares of other
Funds - subject to the applicable
CDSC. |
• |
completing the Automatic
Exchange Election section of the
application, |
• |
calling us if telephone
privileges apply to the account from which the exchange is to be
made, |
• |
sending us your written
instructions, or |
• |
completing an Automatic
Exchange Election form. |
• |
you instruct us to stop (by
calling us if telephone privileges apply to the account or sending us your
written instructions) or |
• |
your Fund account balance of
the account from which shares are redeemed is
zero. |
• |
An exchange by any joint owner
is binding on all joint owners. |
• |
If you do not have an existing
account in the Fund to which the exchange is being made, a new account is
established. The new account has the same owner(s), dividend and capital
gain options and dealer of record as the account from which the shares are
being exchanged. |
• |
All exchanges are subject to
the minimum investment and eligibility requirements of the Fund being
acquired. |
• |
You may acquire shares of a
Fund only if its shares are legally offered in your state of
residence. |
• |
accounts with identical
ownership, |
• |
an account with a single owner
to one with joint ownership if the owner of the single owner account is
also an owner of the account with joint
ownership, |
• |
a single owner to a Uniform
Transfers to Minors Act (“UTMA”) account if the owner of the single owner
account is also the custodian on the UTMA account,
or |
• |
a single or jointly owned
account to an IRA account to fund the yearly IRA contribution of the owner
(or one of the owners in the case of a jointly owned
account). |
• |
the shareholder has not
exchanged shares of the Fund within 30 days preceding the exchange, unless
the shareholder is exchanging into the Money Market
Fund, |
• |
the share class of such other
Fund is available through the
intermediary, |
• |
the share class of such other
Fund is available in the shareholder’s state of residence,
and |
• |
with respect to shares
purchased through an intermediary that is willing and able to impose the
30-day exchange or repurchase restriction described below, the shareholder
has not exchanged shares of the Fund within 30 days preceding the
exchange, unless the shareholder is exchanging into the Money Market
Fund. |
• |
exchange and repurchase
limitations that the intermediary is able to impose if, in management’s
judgment, such limitations are reasonably likely to prevent excessive
trading in Fund shares; or |
• |
the implementation of other
transaction monitoring management believes is reasonably likely to
identify and prevent excessive trading in Fund
shares. |
• |
The Opportunistic Municipal
Fund declares dividends of its daily net investment income each day its
shares are priced. The Fund pays out its accumulated declared dividends
monthly. |
• |
The Capital Securities,
Dynamic Floating Rate High Income, Preferred Securities, and Real Estate
Debt Income Funds pay their net investment income
monthly. |
• |
The Small-MidCap Dividend
Income Fund pays its net investment income quarterly in March, June,
September, and December. |
• |
The Blue Chip, Bond Market
Index, Diversified Real Asset, EDGE Midcap, Global Multi-Strategy, Global
Opportunities, International Equity Index, International Small Company,
Multi-Manager Equity Long/Short, Origin Emerging Markets, SystematEx
International, and SystematEx Large Value Funds pay their net investment
income annually in December. |
• |
invested in shares of another
of the Principal Funds without a sales charge (distributions of a Fund may
be directed only to one receiving Fund);
or |
• |
paid in cash, if the amount is
$10 or more. |
• |
Disrupt the management of the
Funds by: |
• |
forcing the Funds to hold
short-term (liquid) assets rather than investing for long-term growth,
which results in lost investment opportunities for the Funds;
and |
• |
causing unplanned portfolio
turnover; |
• |
Hurt the portfolio performance
of the Funds; and |
• |
Increase expenses of the Funds
due to: |
• |
increased broker-dealer
commissions and |
• |
increased recordkeeping and
related costs. |
• |
Rejecting exchange
instructions from the shareholder or other person authorized by the
shareholder to direct exchanges; |
• |
Restricting submission of
exchange requests by, for example, allowing exchange requests to be
submitted by 1st class U.S. mail
only and disallowing requests made by facsimile, overnight courier,
telephone or via the internet; |
• |
Limiting the number of
exchanges during a year; and |
• |
Taking such other action as
directed by the Fund. |
• |
the dollar amount you are
investing, |
• |
the amount of time you plan to
hold the investment, |
• |
any plans to make additional
investments in the Principal Funds, and |
• |
eligibility to purchase the
class. |
Class A
Sales Charges(1) Diversified Real Asset, Dynamic Floating Rate High Income, Global Multi-Strategy, Opportunistic Municipal, Preferred Securities, and Real Estate Debt Income Funds | |||
Sales Charge
as % of: |
|||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
Dealer
Allowance
as % of
Offering Price |
Less than
$100,000 |
3.75% |
3.90% |
3.00% |
$100,000 but less than
$250,000 |
2.75% |
2.83% |
2.25% |
$250,000 but less than
$500,000 |
1.50% |
1.52% |
1.00% |
$500,000 or
more |
0.00% |
0.00% |
0.00%(2) |
Class A
Sales Charges(1)
Blue Chip,
Global Opportunities, International Small Company, Multi-Manager Equity
Long/Short, Origin Emerging Markets, and Small-MidCap Dividend Income
Funds | |||
Sales Charge
as % of |
|||
Amount of
Purchase |
Offering
Price |
Amount
Invested |
Dealer
Allowance
as % of
Offering Price |
Less than
$50,000 |
5.50% |
5.82% |
4.75% |
$50,000 but less than
$100,000 |
4.75% |
4.99% |
4.00% |
$100,000 but less than
$250,000 |
3.75% |
3.90% |
3.00% |
$250,000 but less than
$500,000 |
3.00% |
3.09% |
2.50% |
$500,000 but less than
$1,000,000 |
2.00% |
2.04% |
1.75% |
$1,000,000 or
more |
0.00% |
0.00% |
0.00%(3) |
(1) |
Because of rounding in the
calculation of the offering price, the actual maximum front-end sales
charge paid by an investor may be higher or lower than the percentages
noted above. |
(2) |
The Distributor may pay
authorized dealers commissions on purchases of Class A shares over
$500,000 calculated as follows: 1.00% on purchases between $500,000 and
$4,999,999, 0.50% on purchases between $5 million and $49,999,999, and
0.25% on purchases of $50 million or more. The commission rate is
determined based on the cumulative investments over the life of the
account combined with the investments in existing Classes A, C, and J
shares. |
(3) |
The Distributor may pay
authorized dealers commissions on purchases of Class A shares over $1
million calculated as follows: 1.00% on purchases between $1,000,000 and
$4,999,999, 0.50% on purchases between $5 million and $49,999,999, and
0.25% on purchases of $50 million or more. The commission rate is
determined based on the cumulative investments over the life of the
account combined with the investments in existing Classes A, C, and J
shares. |
• |
No initial sales charge will
apply to purchases of Fund shares if the purchase is of sufficient size as
disclosed in the preceding “Class A Sales Charges” table.
|
• |
You may reinvest the Funds’
Class A share redemption proceeds without a sales charge within 90 days of
the redemption, if you previously paid a sales charge. Shares invested
directly within the Class A Money Market Fund are not eligible for this
waiver; however, shares in the Money Market Fund that were obtained by
exchange of another Fund that imposed an initial sales charge are
eligible. |
• |
A Fund’s Class A shares
may be purchased without an initial sales charge by the following
individuals, groups, and/or entities: |
• |
current and former Directors
of Principal Funds, member companies of Principal®, and their active or retired
employees, officers, directors, brokers, or agents (for the life of the
account). This also includes their immediate family members (spouse,
domestic partner, children (regardless of age and including in-laws), and
parents, including in-laws) and trusts created by or primarily for the
benefit of these individuals; |
• |
any employee or registered
representative (and their immediate family members and employees) of an
authorized broker-dealer or company that makes available shares of a
Fund; |
• |
clients investing in Class A
shares through a “wrap account” or investment product offered through
broker-dealers, registered investment advisors, and other financial
institutions under which clients may pay a fee to the broker-dealer,
registered investment advisor, or financial
institution; |
• |
any investor who buys Class A
shares through an omnibus account held by financial intermediaries, such
as a bank, broker-dealer, or other financial institution, and that does
not accept or charge the initial sales
charge; |
• |
financial intermediaries who
offer shares to self-directed investment brokerage accounts;
and |
• |
retirement plans or benefit
plans, or participants in such plans, where the plan’s investments in the
Fund are part of an omnibus account. For clarification, such plans do not
include individual retirement arrangements under IRC Section 408, such as
Simplified Employee Pensions (SEP), SIMPLE IRAs or other
IRAs. |
• |
The following two bullet
points are only applicable to intermediaries that are affiliated with
Principal Financial Group, Inc. A Fund’s Class A shares may be purchased
without an initial sales charge by the following individuals, groups,
and/or entities: |
(1) |
Rights of Accumulation. The
sales charge varies with the size of your purchase. Purchases made by you,
your spouse or domestic partner, your children (including children of your
spouse or domestic partner) age 25 or under, and/or a trust created by or
primarily for the benefit of such persons (together “a Qualified
Purchaser”) will be combined along with the value of existing Classes A,
C, and J shares of Principal Funds owned by such persons, to determine the
applicable sales charge. Class A shares of the Money Market Fund are not
included in the calculation unless they were acquired in exchange from
other Principal Fund shares. If the total amount being invested in the
Principal Funds is near a sales charge breakpoint, you should consider
increasing the amount invested to take advantage of a lower sales
charge. |
(2) |
Statement of Intent (SOI).
Qualified Purchasers may obtain reduced sales charges by signing an SOI.
The SOI is a nonbinding obligation on the Qualified Purchaser to purchase
the full amount indicated in the SOI. Purchases made by you, your spouse
or domestic partner, or the children of you, your spouse or domestic
partner up to and including the age of 25 and/or a trust created by or
primarily for the benefit of such persons (together “a Qualified
Purchaser”) will be combined along with the value of existing Classes A,
C, and J shares of Principal Funds owned by such persons. Purchases of
Class A shares of Money Market Fund are not included. The sales charge is
based on the total amount to be invested in a 13-month period. If the
intended investment is not made (or shares are sold during the 13-month
period), sufficient shares will be sold to pay the additional sales charge
due. If a shareholder who signs an SOI dies within the 13-month period, no
additional front-end sales charge will be required and the SOI will be
considered met. An SOI is not available for 401(a) plan
purchases. |
(3) |
The maximum sales charge that
applies to purchases of Class A shares by qualified plans
administered by Expertplan, Inc. that were previously converted from B
share plans is the sales charge that applies to purchases of at least
$250,000 but less than $500,000 as described in the sales charge tables;
the regular sales charge applies to purchases of $500,000 or more in such
accounts and to all purchases of the Diversified Real Asset Fund, Global
Multi-Strategy Fund, and Preferred Securities Fund
shares. |
(4) |
The maximum sales charge for
all purchases made in an account that is included in a SIMPLE IRA, SEP,
SAR-SEP, non-qualified deferred compensation, or payroll deduction plan
established before March 1, 2002 with Principal Management
Corporation as the Funds’ transfer agent, is the sales charge that applies
to purchases of at least $100,000 but less than $250,000 as described in
the sales charge tables; the regular sales charge applies to purchases of
$250,000 or more in such accounts and to all purchases of the Diversified
Real Asset Fund, Global |
• |
redeemed within 90 days after
an account is re-registered due to a shareholder's
death; |
• |
redeemed to pay surrender
fees; |
• |
redeemed to pay retirement
plan fees; |
• |
redeemed involuntarily from
accounts with small balances; |
• |
redeemed due to the
shareholder's disability (as defined by the Internal Revenue Code)
provided the shares were purchased before the disability;
|
• |
redeemed from retirement plans
to satisfy minimum distribution rules under the Internal Revenue
Code; |
• |
redeemed from a retirement
plan to assure the plan complies with the Internal Revenue
Code; |
• |
redeemed from retirement plans
qualified under Section 401(a) of the Internal Revenue Code due to the
plan participant's death, disability, retirement, or separation from
service after attaining age 55; |
• |
redeemed from retirement plans
to satisfy excess contribution rules under the Internal Revenue Code;
or |
• |
redeemed using a systematic
withdrawal plan (up to 1% per month (measured cumulatively with respect to
non-monthly plans) of the value of the fund account at the time, and
beginning on the date, the systematic withdrawal plan begins). (The free
withdrawal privilege not used in a calendar year is not added to the free
withdrawal privileges for any following
year.) |
• |
redeemed that were purchased
pursuant to the Small Amount Force Out program (SAFO);
or |
• |
of the Money Market Fund
redeemed within 30 days of the initial purchase if the redemption proceeds
are transferred to another Principal IRA, defined as either a fixed or
variable annuity issued by Principal Life Insurance Company to fund an
IRA, a Principal Bank IRA product, or a WRAP account IRA sponsored by
Principal Securities, Inc. |
• |
Management Fee (all Classes
except Class S) — Through the Management Agreement with the Fund, PGI has
agreed to provide investment advisory services and corporate
administrative services to the Fund. |
• |
Distribution Fee (Classes A,
C, J, R-1, R-2, R-3, and R-4) — Each Fund has adopted a distribution
plan under Rule 12b-1 of the Investment Company Act of 1940 for the
foregoing classes. Under the plan, these classes of each Fund pay a
distribution fee based on the average daily NAV of the Fund. These fees
pay distribution and other expenses for the sale of Fund shares and for
services provided to shareholders. Because they are ongoing fees, over
time, these fees may exceed other types of sales
charges. |
• |
Other Expenses — (all Classes
except Class S) - A portion of expenses that are allocated to all classes
of the Fund. Other expenses include interest expense, expenses related to
fund investments, and index licensing fees. Additional examples of other
expenses include: |
• |
Transfer Agent Fee (all
Classes except Class S) - Principal Shareholder Services, Inc.
(“PSS”) has entered into a Transfer Agency Agreement with the Fund under
which PSS provides transfer agent services to these classes. For Class J
shares, these services are currently provided at a rate that includes a
profit; for Classes A, C, and Institutional Class shares, these services
are currently provided at cost. The Fund does not pay for these services
for Classes R-1, R-2, R-3, R-4, R-5, and R-6
shares. |
• |
Certain Operating Expenses
(Institutional Class and Classes A, C, J, and R-6) - expenses of
registering and qualifying shares for sale, the cost of producing and
distributing reports and prospectuses to shareholders of these classes,
the cost of shareholder meetings held solely for shareholders of these
classes, and other operating expenses of the
Fund. |
• |
Service Fee (Classes R-1, R-2,
R-3, R-4, and R-5) - PGI has entered into a Service Agreement
with the Fund under which PGI is required to provide certain personal
services to shareholders (plan sponsors) and beneficial owners (plan
members), such as responding to plan sponsor and plan member
inquiries. |
• |
Administrative Services Fee
(Classes R-1, R-2, R-3, R-4, and R-5) - PGI has entered into an
Administrative Services Agreement with Principal Funds under which PGI is
required to provide shareholder and administrative services for retirement
plans and other beneficial owners of Fund
shares. |
• |
Acquired Fund Fees and
Expenses (all Classes except Class S) - fees and expenses charged by other
investment companies in which a Fund invests a portion of its
assets. |
Share
Class |
Maximum
Annualized Rate
12b-1
Fee |
A |
0.25% |
C |
1.00% |
J |
0.15% |
R-1 |
0.35% |
R-2 |
0.30% |
R-3 |
0.25% |
R-4 |
0.10% |
• |
Compensation to salespeople
and selected dealers, including ongoing commission
payments. |
• |
Printing of prospectuses and
statements of additional information and reports for other than existing
shareholders, and preparing and conducting sales
seminars. |
• |
when the only activity during
the quarter are: |
• |
purchases of shares from
reinvested dividends and/or capital
gains, |
• |
purchases under an Automatic
Investment Plan, |
• |
sales under a Systematic
Withdrawal Plan, or |
• |
purchases or sales under an
Automatic Exchange Election; |
• |
used to fund certain
individual retirement or individual pension plans;
or |
• |
established under a payroll
deduction plan. |
• |
may be given by calling
us; |
• |
may be given via our website
for certain transactions (for security purposes you need a user name and
password to use any of the internet services, including viewing your
account information on-line. If you don’t have a user name or password,
you may obtain one at our website); or |
• |
may be given to your Financial
Professional (a person employed by or affiliated with broker/dealer firms)
who will in turn contact us with your
instructions. |
Signature
guarantees are required in any of the following
circumstances: |
A |
C |
J |
Inst. |
R-1 |
R-2 |
R-3 |
R-4 |
R-5 |
R-6 |
if you sell more than $100,000
(in the aggregate) from the Funds |
X |
X |
X |
|||||||
if you sell more than $500,000
(in the aggregate) from the Funds |
X |
X |
X |
X |
X |
X |
X | |||
if you sell more than
$10,000,000 if you have the proceeds sent electronically to a previously
authorized U.S. bank account |
X |
|||||||||
if a sales proceeds check is
payable to a party other than the account shareholder(s) |
X |
X |
X |
X |
X |
X |
X | |||
if a sales proceeds check is
payable to a party other than the account shareholder(s) or Principal
Life, Principal Bank, a retirement plan trustee or custodian that has
agreed in writing to accept a transfer of assets from the Fund or
Principal Securities, Inc. payable through Pershing |
X |
X |
X |
|||||||
to change ownership of an
account |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to add telephone transaction
services and/or wire or ACH redemption privileges to an existing account
if there is not a common owner between the bank account and mutual fund
account |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to change bank account
information designated under an existing telephone withdrawal plan if
there is not a common owner between the bank account and mutual fund
account |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to wire or ACH to a
shareholder’s U.S. bank account not previously authorized or when the
request does not include a voided check or deposit slip indicating a
common owner between the bank account and mutual fund
account |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to exchange or transfer among
accounts with different ownership |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
to have a sales proceeds check
mailed to an address other than the address on the account or to the
address on the account if it has been changed within the preceding 15
days |
X |
X |
X |
X |
X |
X |
X |
X |
X |
X |
Aaa: |
Obligations rated Aaa are
judged to be of the highest quality, subject to the lowest level of credit
risk. |
Aa: |
Obligations rated Aa are
judged to be of high quality and are subject to very low credit
risk. |
A: |
Obligations rated A are
considered upper-medium grade and are subject to low credit
risk. |
Baa: |
Obligations rated Baa are
subject to moderate credit risk. They are considered medium-grade and as
such may possess certain speculative
characteristics. |
Ba: |
Obligations rated Ba are
judged to be speculative and are subject to substantial credit
risk. |
B: |
Obligations rated B are
considered speculative and are subject to high credit
risk. |
Caa: |
Obligations rated Caa are
judged to be speculative of poor standing and are subject to very high
credit risk. |
Ca: |
Obligations rated Ca are
highly speculative and are likely in, or very near, default, with some
prospect of recovery of principal and
interest. |
C: |
Obligations rated C are the
lowest rated class of bonds and are typically in default, with little
prospect for recovery of principal or
interest. |
• |
Likelihood of payment -
capacity and willingness of the obligor to meet its financial commitment
on an obligation in accordance with the terms of the
obligation; |
• |
Nature of and provisions of
the obligation; |
• |
Protection afforded by, and
relative position of, the obligation in the event of bankruptcy,
reorganization, or other arrangement under the laws of bankruptcy and
other laws affecting creditor's rights. |
AAA: |
Obligations rated ‘AAA’ have
the highest rating assigned by S&P Global. The obligor’s capacity to
meet its financial commitment on the obligation is extremely
strong. |
AA: |
Obligations rated ‘AA’ differ
from the highest-rated issues only in small degree. The obligor’s capacity
to meet its financial commitment on the obligation is very
strong. |
A: |
Obligations rated ‘A’ have a
strong capacity to meet financial commitment on the obligation although
they are somewhat more susceptible to the adverse effects of changes in
circumstances and economic conditions than obligations in higher-rated
categories. |
BBB: |
Obligations rated ‘BBB’
exhibit adequate protection parameters; however, adverse economic
conditions or changing circumstances are more likely to lead to a weakened
capacity to meet financial commitment on the
obligation. |
BB, B, CCC, |
Obligations rated ‘BB’, ‘B’,
‘CCC’, ‘CC’, and ‘C’ are regarded, on balance, as having
significant |
CC, and C: |
speculative characteristics.
‘BB’ indicates the lowest degree of speculation and ‘C’ the highest degree
of speculation. While such obligations will likely have some quality and
protective characteristics, these may be outweighed by large uncertainties
or major risk exposures to adverse
conditions. |
BB: |
Obligations rated ‘BB’ are
less vulnerable to nonpayment than other speculative issues. However it
faces major ongoing uncertainties or exposure to adverse business,
financial, or economic conditions which could lead to the obligor’s
inadequate capacity to meet its financial commitment on the
obligation. |
B: |
Obligations rated ‘B’ are more
vulnerable to nonpayment than ‘BB’ but the obligor currently has the
capacity to meet its financial commitment on the obligation. Adverse
business, financial, or economic conditions will likely impair this
capacity. |
CCC: |
Obligations rated ‘CCC’ are
currently vulnerable to nonpayment and is dependent upon favorable
business, financial, and economic conditions for the obligor to meet its
financial commitment on the obligation. If adverse business, financial, or
economic conditions occur, the obligor is not likely to have the capacity
to meet its financial commitment on the
obligation. |
CC: |
Obligations rated ‘CC’ are
currently highly vulnerable to nonpayment. The ‘CC’ rating is used when a
default has not yet occurred but S&P Global expects default to be a
virtual certainty, regardless of anticipated time to
default. |
C: |
The rating ‘C’ is highly
vulnerable to nonpayment, the obligation is expected to have lower
relative seniority or lower ultimate recovery compared to higher rated
obligations. |
D: |
Obligations rated ‘D’ are in
default, or in breach of an imputed promise. For non-hybrid capital
instruments, the ‘D’ rating category is used when payments on an
obligation are not made on the date due, unless S&P Global believes
that such payments will be made within five business days in the absence
of a stated grace period or within the earlier of the stated grace period
or 30 calendar days. The rating will also be used upon filing for
bankruptcy petition or the taking of similar action and where default is a
virtual certainty. If an obligation is subject to a distressed exchange
offer the rating is lowered to ‘D’. |
NR: |
Indicates that no rating has
been requested, that there is insufficient information on which to base a
rating or that S&P Global does not rate a particular type of
obligation as a matter of policy. |
A-1: |
This is the highest category.
The obligor’s capacity to meet its financial commitment on the obligation
is strong. Within this category, certain obligations are designated with a
plus sign (+). This indicates that the obligor’s capacity to meet its
financial commitment on these obligations is extremely
strong. |
A-2: |
Issues carrying this
designation are somewhat more susceptible to the adverse effects of the
changes in circumstances and economic conditions than obligations in
higher rating categories. However, the obligor’s capacity to meet its
financial commitment on the obligation is
satisfactory. |
A-3: |
Issues carrying this
designation exhibit adequate capacity to meet their financial obligations.
However, adverse economic conditions or changing circumstances are more
likely to lead to a weakened capacity of the obligor to meet it financial
commitment on the obligation. |
B: |
Issues rated ‘B’ are regarded
as vulnerable and have significant speculative characteristics. The
obligor has capacity to meet financial commitments; however, it faces
major ongoing uncertainties which could lead to obligor’s inadequate
capacity to meet its financial
obligations. |
C: |
This rating is assigned to
short-term debt obligations that are currently vulnerable to nonpayment
and is dependent upon favorable business, financial, and economic
conditions to meet its financial commitment on the
obligation. |
D: |
This rating indicates that the
issue is either in default or in breach of an imputed promise. For
non-hybrid capital instruments, the ‘D’ rating category is used when
payments on an obligation are not made on the date due, unless S&P
Global believes that such payments will be made within five business days
in the absence of a stated grace period or within the earlier of the
stated grace period or 30 calendar days. The rating will also be used upon
filing for bankruptcy petition or the taking of similar action and where
default is a virtual certainty. If an obligation is subject to a
distressed exchange offer the rating is lowered to
‘D’. |
SP-1: |
A strong capacity to pay
principal and interest. Issues that possess a very strong capacity to pay
debt service is given a "+" designation. |
SP-2: |
A satisfactory capacity to pay
principal and interest, with some vulnerability to adverse financial and
economic changes over the terms of the
notes. |
SP-3: |
A speculative capacity to pay
principal and interest. |
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. |
• |
Employer-sponsored retirement,
deferred compensation and employee benefit plans (including health savings
accounts) and trusts used to fund those plans, provided that the shares
are not held in a commission-based brokerage account and shares are held
for the benefit of the plan. |
• |
Shares purchased by or through
a 529 Plan. |
• |
Shares purchased through a
Merrill Lynch affiliated investment advisory
program. |
• |
Shares purchased by third
party investment advisors on behalf of their advisory clients through
Merrill Lynch’s platform. |
• |
Shares of funds purchased
through the Merrill Edge Self-Directed
platform. |
• |
Shares purchased through
reinvestment of capital gains distributions and dividend reinvestment when
purchasing shares of the same fund (but not any other fund within the fund
family). |
• |
Shares exchanged from Class C
(i.e. level-load) shares of the same fund in the month of or following the
10-year anniversary of the purchase date. |
• |
Employees and registered
representatives of Merrill Lynch or its affiliates and their family
members. |
• |
Directors or Trustees of the
Fund, and employees of the Fund’s investment adviser or any of its
affiliates, as described in this
prospectus. |
• |
Shares purchased from the
proceeds of redemptions within the same fund family, provided (1) the
repurchase occurs within 90 days following the redemption, (2) the
redemption and purchase occur in the same account, and (3) redeemed shares
were subject to a front-end or deferred sales load (known as Rights of
Reinstatement). |
• |
Death or disability of the
shareholder |
• |
Shares sold as part of a
systematic withdrawal plan as described in the Fund’s
prospectus |
• |
Return of excess contributions
from an IRA Account |
• |
Shares sold as part of a
required minimum distribution for IRA and retirement accounts due to the
shareholder reaching age 70½ |
• |
Shares sold to pay Merrill
Lynch fees but only if the transaction is initiated by Merrill
Lynch |
• |
Shares acquired through a
right of reinstatement |
• |
Shares held in retirement
brokerage accounts, that are exchanged for a lower cost share class due to
transfer to a fee based account or platform (applicable to A and C shares
only) |
• |
Breakpoints as described in
this prospectus. |
• |
Rights of Accumulation (ROA)
which entitle shareholders to breakpoint discounts will be automatically
calculated based on the aggregated holding of Class A shares and Class C
shares of fund family assets held by accounts within the purchaser’s
household at Merrill Lynch. Eligible fund family assets not held at
Merrill Lynch may be included in the ROA calculation only if the
shareholder notifies his or her financial advisor about such
assets. |
• |
Letters of Intent (LOI) which
allow for breakpoint discounts based on anticipated purchases of Class A
shares and Class C shares within a fund family, through Merrill Lynch,
over a 13-month period of time. |
• |
Employer-sponsored retirement
plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans,
profit sharing and money purchase pension plans and defined benefit
plans). However, the initial sales charge waiver does not apply to SEP
IRAs, Simple IRAs or SAR-SEPs. |
• |
Shares purchased through an
Ameriprise Financial investment advisory program (if an Advisory or
similar share class for such investment advisory program is not
available). |
• |
Shares purchased by third
party investment advisors on behalf of their advisory clients through
Ameriprise Financial’s platform (if an Advisory or similar share class for
such investment advisory program is not
available). |
• |
Shares purchased through
reinvestment of capital gains distributions and dividend reinvestment when
purchasing shares of the same fund (but not any other fund within the same
fund family). |
• |
Shares exchanged from Class C
shares of the same fund in the month of or following the 10-year
anniversary of the purchase date. To the extent that this prospectus
elsewhere provides for a waiver with respect to such shares following a
shorter holding period, that waiver will apply to exchanges following such
shorter period. To the extent that this prospectus elsewhere provides for
a waiver with respect to exchanges of Class C shares for load waived
shares, that waiver will also apply to such
exchanges. |
• |
Employees and registered
representatives of Ameriprise Financial or its affiliates and their
immediate family members. |
• |
Shares purchased by or through
qualified accounts (including IRAs, Coverdell Education Savings Accounts,
401(k)s, 403(b) accounts subject to ERISA and defined benefit plans) that
are held by a covered family member, defined as an Ameriprise financial
advisor and/or the advisor’s spouse, advisor’s lineal ascendant (mother,
father, grandmother, grandfather, great grandmother, great grandfather),
advisor’s lineal descendant (son, step-son, daughter, step-daughter,
grandson, granddaughter, great grandson, great granddaughter, including
through adoption) or any spouse of a covered family member who is a lineal
descendant. |
• |
Shares purchased from the
proceeds of redemptions within the same fund family, provided (1) the
repurchase occurs within 90 days following the redemption, (2) the
redemption and purchase occur in the same account, and (3) redeemed shares
were subject to a front-end or deferred sales load (known as Rights of
Reinstatement). |
• |
Employer-sponsored retirement
plans (e.g., 401(k) plans, 457 plans, employer-sponsored 403(b) plans,
profit sharing and money purchase pension plans and defined benefit
plans). For purposes of this provision, employer-sponsored retirement
plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh
plans. |
• |
Morgan Stanley employee and
employee-related accounts according to Morgan Stanley’s account linking
rules. |
• |
Shares purchased through
reinvestment of dividends and capital gains distributions when purchasing
shares of the same fund. |
• |
Shares purchased through a
Morgan Stanley self-directed brokerage
account. |
• |
Class C (i.e., level-load)
shares that are no longer subject to a contingent deferred sales charge
and are converted to Class A shares of the same fund pursuant to Morgan
Stanley Wealth Management’s share class conversion
program. |
• |
Shares purchased from the
proceeds of redemptions within the same fund family, provided (i) the
repurchase occurs within 90 days following the redemption, (ii) the
redemption and purchase occur in the same account, and (iii) redeemed
shares were subject to a front-end or deferred sales
charge. |
FINANCIAL HIGHLIGHTS | |||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | |||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
BLUE CHIP FUND | |||||||||||||||||||||
Institutional shares | |||||||||||||||||||||
2017 | $ | 17.00 | $ | 0.10 | $ | 3.17 | $ | 3.27 | ($0.08 | ) | ($0.09 | ) | ($0.17 | ) | $ | 20.10 | |||||
2016 | 15.63 | 0.05 | 1.70 | 1.75 | (0.07 | ) | (0.31 | ) | (0.38 | ) | 17.00 | ||||||||||
2015 | 15.14 | 0.10 | 0.86 | 0.96 | (0.09 | ) | (0.38 | ) | (0.47 | ) | 15.63 | ||||||||||
2014 | 12.44 | 0.12 | 2.62 | 2.74 | (0.04 | ) | – | (0.04 | ) | 15.14 | |||||||||||
2013 | 10.64 | 0.18 | 1.69 | 1.87 | (0.06 | ) | (0.01 | ) | (0.07 | ) | 12.44 | ||||||||||
R-3 shares | |||||||||||||||||||||
2017 | 16.96 | 0.21 | 2.95 | 3.16 | (0.03 | ) | (0.09 | ) | (0.12 | ) | 20.00 | ||||||||||
2016 | (c) | 15.64 | (0.01 | ) | 1.33 | 1.32 | – | – | – | 16.96 | |||||||||||
R-4 shares | |||||||||||||||||||||
2017 | 16.98 | 0.09 | 3.11 | 3.20 | (0.04 | ) | (0.09 | ) | (0.13 | ) | 20.05 | ||||||||||
2016 | (c) | 15.64 | – | 1.34 | 1.34 | – | – | – | 16.98 | ||||||||||||
R-5 shares | |||||||||||||||||||||
2017 | 16.99 | 0.18 | 3.04 | 3.22 | (0.05 | ) | (0.09 | ) | (0.14 | ) | 20.07 | ||||||||||
2016 | (c) | 15.64 | 0.01 | 1.34 | 1.35 | – | – | – | 16.99 | ||||||||||||
R-6 shares | |||||||||||||||||||||
2017 | (f) | 17.03 | 0.23 | 2.84 | 3.07 | – | – | – | 20.10 |
1
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
19.42 | % | $ | 63,268 | 0.69 | % | 0.69% | (b) | 0.57 | % | 27.1 | % |
11.39 | 1,257,265 | 0.69 | 0.69 | (b) | 0.33 | 36.4 | |||||
6.46 | 1,226,210 | 0.71 | 0.71 | (b) | 0.61 | 26.2 | |||||
22.07 | 421,601 | 0.72 | 0.72 | (b) | 0.85 | 34.4 | |||||
17.74 | 179,732 | 0.75 | 0.95 | (b) | 1.46 | 1.3 | |||||
18.77 | 337 | 1.25 | – | 1.08 | 27.1 | ||||||
8.44 | (d) | 11 | 1.26 | (e) | – | (0.13) | (e) | 36.4 | (e) | ||
19.02 | 27 | 1.06 | – | 0.51 | 27.1 | ||||||
8.57 | (d) | 11 | 1.07 | (e) | – | 0.05 | (e) | 36.4 | (e) | ||
19.11 | 83 | 0.94 | – | 0.95 | 27.1 | ||||||
8.63 | (d) | 11 | 0.95 | (e) | – | 0.19 | (e) | 36.4 | (e) | ||
18.03 | (d) | 1,582,450 | 0.68 | (e) | 0.69 (b) | ,(e) | 1.74 | (e) | 27.1 | (e) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Excludes expense reimbursement from Manager. |
(c) | Period from March 29, 2016, date operations commenced, through August 31, 2016. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
(f) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
2
FINANCIAL HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL FUNDS, INC. | ||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | ||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||
BOND MARKET INDEX FUND | ||||||||||||||||||||
Class J shares | ||||||||||||||||||||
2017 | $ | 11.17 | $ | 0.17 | ($0.20 | ) | ($0.03 | ) | ($0.13 | ) | $– | ($0.13 | ) | $ | 11.01 | |||||
2016 | 10.82 | 0.13 | 0.40 | 0.53 | (0.17 | ) | (0.01 | ) | (0.18 | ) | 11.17 | |||||||||
2015 | 10.94 | 0.12 | (0.06 | ) | 0.06 | (0.16 | ) | (0.02 | ) | (0.18 | ) | 10.82 | ||||||||
2014 | 10.63 | 0.14 | 0.36 | 0.50 | (0.19 | ) | – | (0.19 | ) | 10.94 | ||||||||||
2013 | 11.17 | 0.11 | (0.47 | ) | (0.36 | ) | (0.17 | ) | (0.01 | ) | (0.18 | ) | 10.63 | |||||||
Institutional shares | ||||||||||||||||||||
2017 | 11.39 | 0.21 | (0.20 | ) | 0.01 | (0.19 | ) | – | (0.19 | ) | 11.21 | |||||||||
2016 | 11.02 | 0.20 | 0.39 | 0.59 | (0.21 | ) | (0.01 | ) | (0.22 | ) | 11.39 | |||||||||
2015 | 11.01 | 0.17 | 0.08 | 0.25 | (0.22 | ) | (0.02 | ) | (0.24 | ) | 11.02 | |||||||||
2014 | 10.71 | 0.20 | 0.35 | 0.55 | (0.25 | ) | – | (0.25 | ) | 11.01 | ||||||||||
2013 | 11.27 | 0.17 | (0.48 | ) | (0.31 | ) | (0.24 | ) | (0.01 | ) | (0.25 | ) | 10.71 | |||||||
R-1 shares | ||||||||||||||||||||
2017 | 11.16 | 0.12 | (0.20 | ) | (0.08 | ) | (0.11 | ) | – | (0.11 | ) | 10.97 | ||||||||
2016 | 10.80 | 0.10 | 0.39 | 0.49 | (0.12 | ) | (0.01 | ) | (0.13 | ) | 11.16 | |||||||||
2015 | 10.93 | 0.08 | (0.05 | ) | 0.03 | (0.14 | ) | (0.02 | ) | (0.16 | ) | 10.80 | ||||||||
2014 | 10.60 | 0.11 | 0.35 | 0.46 | (0.13 | ) | – | (0.13 | ) | 10.93 | ||||||||||
2013 | 11.15 | 0.07 | (0.47 | ) | (0.40 | ) | (0.14 | ) | (0.01 | ) | (0.15 | ) | 10.60 | |||||||
R-2 shares | ||||||||||||||||||||
2017 | 11.18 | 0.13 | (0.20 | ) | (0.07 | ) | (0.11 | ) | – | (0.11 | ) | 11.00 | ||||||||
2016 | 10.80 | 0.11 | 0.39 | 0.50 | (0.11 | ) | (0.01 | ) | (0.12 | ) | 11.18 | |||||||||
2015 | 10.92 | 0.09 | (0.06 | ) | 0.03 | (0.13 | ) | (0.02 | ) | (0.15 | ) | 10.80 | ||||||||
2014 | 10.61 | 0.12 | 0.36 | 0.48 | (0.17 | ) | – | (0.17 | ) | 10.92 | ||||||||||
2013 | 11.16 | 0.09 | (0.47 | ) | (0.38 | ) | (0.16 | ) | (0.01 | ) | (0.17 | ) | 10.61 | |||||||
R-3 shares | ||||||||||||||||||||
2017 | 11.16 | 0.15 | (0.20 | ) | (0.05 | ) | (0.14 | ) | – | (0.14 | ) | 10.97 | ||||||||
2016 | 10.79 | 0.13 | 0.40 | 0.53 | (0.15 | ) | (0.01 | ) | (0.16 | ) | 11.16 | |||||||||
2015 | 10.92 | 0.11 | (0.06 | ) | 0.05 | (0.16 | ) | (0.02 | ) | (0.18 | ) | 10.79 | ||||||||
2014 | 10.61 | 0.14 | 0.36 | 0.50 | (0.19 | ) | – | (0.19 | ) | 10.92 | ||||||||||
2013 | 11.19 | 0.11 | (0.49 | ) | (0.38 | ) | (0.19 | ) | (0.01 | ) | (0.20 | ) | 10.61 | |||||||
R-4 shares | ||||||||||||||||||||
2017 | 11.18 | 0.17 | (0.20 | ) | (0.03 | ) | (0.15 | ) | – | (0.15 | ) | 11.00 | ||||||||
2016 | 10.84 | 0.15 | 0.39 | 0.54 | (0.19 | ) | (0.01 | ) | (0.20 | ) | 11.18 | |||||||||
2015 | 10.95 | 0.14 | (0.06 | ) | 0.08 | (0.17 | ) | (0.02 | ) | (0.19 | ) | 10.84 | ||||||||
2014 | 10.65 | 0.16 | 0.35 | 0.51 | (0.21 | ) | – | (0.21 | ) | 10.95 | ||||||||||
2013 | 11.21 | 0.13 | (0.48 | ) | (0.35 | ) | (0.20 | ) | (0.01 | ) | (0.21 | ) | 10.65 | |||||||
R-5 shares | ||||||||||||||||||||
2017 | 11.23 | 0.18 | (0.19 | ) | (0.01 | ) | (0.17 | ) | – | (0.17 | ) | 11.05 | ||||||||
2016 | 10.85 | 0.16 | 0.41 | 0.57 | (0.18 | ) | (0.01 | ) | (0.19 | ) | 11.23 | |||||||||
2015 | 10.97 | 0.15 | (0.07 | ) | 0.08 | (0.18 | ) | (0.02 | ) | (0.20 | ) | 10.85 | ||||||||
2014 | 10.66 | 0.17 | 0.36 | 0.53 | (0.22 | ) | – | (0.22 | ) | 10.97 | ||||||||||
2013 | 11.23 | 0.14 | (0.48 | ) | (0.34 | ) | (0.22 | ) | (0.01 | ) | (0.23 | ) | 10.66 |
3
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
(0.20)% | (b) | $ | 30,315 | 0.64 | % | 0.70% | (c) | 1.53 | % | 117.8 | % |
4.98 | (b) | 33,765 | 0.76 | 0.83 | (c) | 1.23 | 151.8 | ||||
0.60 | (b) | 25,430 | 0.71 | 0.78 | (c) | 1.13 | 319.5 | ||||
4.76 | (b) | 25,535 | 0.79 | 0.87 | (c) | 1.34 | 162.0 | ||||
(3.34 | ) (b) | 25,256 | 0.77 | 0.97 | (c) | 1.04 | 131.7 | ||||
0.19 | 1,795,872 | 0.23 | 0.26 | (d) | 1.94 | 117.8 | |||||
5.52 | 1,648,408 | 0.23 | 0.26 | (d) | 1.75 | 151.8 | |||||
2.26 | (e) | 1,154,916 | 0.23 | 0.26 | (d) | 1.55 | 319.5 | ||||
5.25 | 922,012 | 0.26 | 0.26 | (d) | 1.88 | 162.0 | |||||
(2.88 | ) | 1,462,194 | 0.26 | 0.26 | (d) | 1.54 | 131.7 | ||||
(0.70 | ) | 2,158 | 1.11 | 1.14 | (d) | 1.07 | 117.8 | ||||
4.60 | 1,913 | 1.11 | 1.14 | (d) | 0.88 | 151.8 | |||||
0.25 | 1,436 | 1.11 | 1.15 | (d) | 0.73 | 319.5 | |||||
4.38 | 1,290 | 1.14 | 1.14 | (d) | 1.00 | 162.0 | |||||
(3.68 | ) | 1,513 | 1.14 | 1.14 | (d) | 0.68 | 131.7 | ||||
(0.59 | ) | 2,936 | 0.98 | 1.01 | (d) | 1.19 | 117.8 | ||||
4.76 | 2,940 | 0.98 | 1.01 | (d) | 1.01 | 151.8 | |||||
0.32 | 3,334 | 0.98 | 1.02 | (d) | 0.85 | 319.5 | |||||
4.55 | 4,006 | 1.01 | 1.01 | (d) | 1.13 | 162.0 | |||||
(3.54 | ) | 3,985 | 1.01 | 1.01 | (d) | 0.81 | 131.7 | ||||
(0.42 | ) | 17,123 | 0.80 | 0.83 | (d) | 1.38 | 117.8 | ||||
5.00 | 16,998 | 0.80 | 0.83 | (d) | 1.19 | 151.8 | |||||
0.47 | 14,851 | 0.80 | 0.84 | (d) | 1.04 | 319.5 | |||||
4.81 | 13,786 | 0.83 | 0.83 | (d) | 1.31 | 162.0 | |||||
(3.48 | ) | 11,485 | 0.83 | 0.83 | (d) | 0.98 | 131.7 | ||||
(0.18 | ) | 42,411 | 0.61 | 0.64 | (d) | 1.57 | 117.8 | ||||
5.10 | 36,951 | 0.61 | 0.64 | (d) | 1.38 | 151.8 | |||||
0.79 | 24,500 | 0.61 | 0.65 | (d) | 1.25 | 319.5 | |||||
4.87 | 7,649 | 0.64 | 0.64 | (d) | 1.50 | 162.0 | |||||
(3.23 | ) | 7,137 | 0.64 | 0.64 | (d) | 1.17 | 131.7 | ||||
(0.06 | ) | 26,153 | 0.49 | 0.52 | (d) | 1.67 | 117.8 | ||||
5.24 | (f) | 31,929 | 0.49 | 0.52 | (d) | 1.50 | 151.8 | ||||
0.87 | (f) | 28,385 | 0.49 | 0.53 | (d) | 1.34 | 319.5 | ||||
5.05 | 56,079 | 0.52 | 0.52 | (d) | 1.62 | 162.0 | |||||
(3.16 | ) | 25,057 | 0.52 | 0.52 | (d) | 1.29 | 131.7 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the contingent deferred sales charge. |
(c) | Excludes expense reimbursement from Manager and/or Distributor. |
(d) | Excludes expense reimbursement from Manager. |
(e) | During 2014, the Class experienced a significant withdrawal of monies by an affiliate. As the remaining shareholders held relatively small positions, the total return amounts expressed herein are greater than those that would have been experienced without the withdrawal. |
(f) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
4
FINANCIAL HIGHLIGHTS | |||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | |||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
DIVERSIFIED REAL ASSET FUND | |||||||||||||||||||||
Institutional shares | |||||||||||||||||||||
2017 | $ | 11.08 | $ | 0.23 | $ | 0.54 | $ | 0.77 | ($0.28 | ) | $– | ($0.28 | ) | $ | 11.57 | ||||||
2016 | 11.25 | 0.22 | (0.29 | ) | (0.07 | ) | (0.10 | ) | – | (0.10 | ) | 11.08 | |||||||||
2015 | 13.21 | 0.19 | (1.89 | ) | (1.70 | ) | (0.13 | ) | (0.13 | ) | (0.26 | ) | 11.25 | ||||||||
2014 | 11.81 | 0.22 | 1.45 | 1.67 | (0.16 | ) | (0.11 | ) | (0.27 | ) | 13.21 | ||||||||||
2013 | 11.99 | 0.20 | 0.07 | 0.27 | (0.15 | ) | (0.30 | ) | (0.45 | ) | 11.81 | ||||||||||
R-3 shares | |||||||||||||||||||||
2017 | 11.06 | 0.19 | 0.52 | 0.71 | (0.24 | ) | – | (0.24 | ) | 11.53 | |||||||||||
2016 | (c) | 10.45 | 0.10 | 0.51 | 0.61 | – | – | – | 11.06 | ||||||||||||
R-4 shares | |||||||||||||||||||||
2017 | 11.07 | 0.20 | 0.53 | 0.73 | (0.26 | ) | – | (0.26 | ) | 11.54 | |||||||||||
2016 | (c) | 10.45 | 0.10 | 0.52 | 0.62 | – | – | – | 11.07 | ||||||||||||
R-5 shares | |||||||||||||||||||||
2017 | 11.08 | 0.21 | 0.54 | 0.75 | (0.27 | ) | – | (0.27 | ) | 11.56 | |||||||||||
2016 | (c) | 10.45 | 0.11 | 0.52 | 0.63 | – | – | – | 11.08 | ||||||||||||
R-6 shares | |||||||||||||||||||||
2017 | 11.08 | 0.27 | 0.50 | 0.77 | (0.28 | ) | – | (0.28 | ) | 11.57 | |||||||||||
2016 | 11.25 | 0.26 | (0.32 | ) | (0.06 | ) | (0.11 | ) | – | (0.11 | ) | 11.08 | |||||||||
2015 | (g) | 12.07 | 0.17 | (0.99 | ) | (0.82 | ) | – | – | – | 11.25 | ||||||||||
DYNAMIC FLOATING RATE HIGH INCOME FUND | |||||||||||||||||||||
Institutional shares | |||||||||||||||||||||
2017 | 9.17 | 0.44 | 0.13 | 0.57 | (0.43 | ) | – | (0.43 | ) | 9.31 | |||||||||||
2016 | 9.41 | 0.47 | (0.22 | ) | 0.25 | (0.49 | ) | – | (0.49 | ) | 9.17 | ||||||||||
2015 | (h) | 10.00 | 0.43 | (0.60 | ) | (0.17 | ) | (0.42 | ) | – | (0.42 | ) | 9.41 | ||||||||
EDGE MIDCAP FUND | |||||||||||||||||||||
Institutional shares | |||||||||||||||||||||
2017 | 12.24 | 0.12 | 0.78 | 0.90 | (0.10 | ) | (0.44 | ) | (0.54 | ) | 12.60 | ||||||||||
2016 | (i) | 10.00 | 0.11 | 2.17 | 2.28 | (0.03 | ) | (0.01 | ) | (0.04 | ) | 12.24 | |||||||||
R-6 shares | |||||||||||||||||||||
2017 | (j) | 12.12 | 0.09 | 0.47 | 0.56 | – | – | – | 12.68 |
5
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
7.16 | % | $ | 2,591,713 | 0.88 | % | 0.92% | (b) | 2.08 | % | 65.1 | % |
(0.53 | ) | 3,294,419 | 0.87 | 0.87 | (b) | 2.02 | 77.6 | ||||
(12.98 | ) | 3,141,543 | 0.87 | – | 1.53 | 66.4 | |||||
14.35 | 2,485,224 | 0.86 | – | 1.74 | 67.3 | ||||||
2.31 | 1,438,209 | 0.87 | 0.87 | (b) | 1.65 | 78.7 | |||||
6.60 | 17 | 1.38 | – | 1.71 | 65.1 | ||||||
5.84 | (d) | 11 | 1.39 | (e) | – | 2.08 | (e) | 77.6 | (e) | ||
6.82 | (f) | 11 | 1.19 | – | 1.76 | 65.1 | |||||
5.93 | (d) | 11 | 1.20 | (e) | – | 2.25 | (e) | 77.6 | (e) | ||
6.93 | 11 | 1.07 | – | 1.90 | 65.1 | ||||||
6.03 | (d) | 11 | 1.08 | (e) | – | 2.39 | (e) | 77.6 | (e) | ||
7.17 | 1,568,988 | 0.83 | 0.83 | (b) | 2.42 | 65.1 | |||||
(0.50 | ) | 29,601 | 0.88 | 0.98 | (b) | 2.43 | 77.6 | ||||
(6.79 | ) (d) | 810 | 0.88 | (e) | 25.58 (b) | ,(e) | 2.21 | (e) | 66.4 | (e) | |
6.25 | 7,063 | 0.75 | 1.40 | (b) | 4.73 | 104.0 | |||||
2.96 | 6,899 | 0.75 | 1.27 | (b) | 5.23 | 112.8 | |||||
(1.72 | ) (d) | 7,070 | 0.75 | (e) | 1.34 (b) | ,(e) | 4.58 | (e) | 94.0 | (e) | |
7.51 | 1,289 | 0.78 | 0.78 | (b) | 1.00 | 11.9 | |||||
22.89 | (d) | 292,615 | 0.79 | (e) | 0.79 (b) | ,(e) | 1.04 | (e) | 22.4 | (e) | |
4.62 | (d) | 286,832 | 0.77 | (e) | 0.81 (b) | ,(e) | 1.06 | (e) | 11.9 | (e) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Excludes expense reimbursement from Manager. |
(c) | Period from March 29, 2016, date operations commenced, through August 31, 2016. |
(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. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(g) | Period from December 31, 2014, date operations commenced, through August 31, 2015. |
(h) | Period from September 10, 2014, date operations commenced, through August 31, 2015. |
(i) | Period from September 28, 2015, date operations commenced, through August 31, 2016. |
(j) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
6
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,INC.
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
GLOBAL MULTI-STRATEGY FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | $ | 10.86 | $ | 0.11 | $ | 0.44 | $ | 0.55 | ($0.02 | ) | $– | ($0.02 | ) | $ | 11.39 | |||||||
2016 | 10.99 | 0.05 | 0.14 | 0.19 | (0.09 | ) | (0.23 | ) | (0.32 | ) | 10.86 | |||||||||||
2015 | 11.14 | (0.03 | ) | 0.15 | 0.12 | (0.10 | ) | (0.17 | ) | (0.27 | ) | 10.99 | ||||||||||
2014 | 10.54 | – | 0.71 | 0.71 | (0.03 | ) | (0.08 | ) | (0.11 | ) | 11.14 | |||||||||||
2013 | 10.35 | 0.04 | 0.29 | 0.33 | – | (0.14 | ) | (0.14 | ) | 10.54 | ||||||||||||
R-6 shares | ||||||||||||||||||||||
2017 | (d) | 11.28 | 0.04 | 0.07 | 0.11 | – | – | – | 11.39 | |||||||||||||
GLOBAL OPPORTUNITIES FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | 11.57 | 0.18 | 1.58 | 1.76 | (0.20 | ) | – | (0.20 | ) | 13.13 | ||||||||||||
2016 | 11.46 | 0.17 | 0.20 | 0.37 | (0.16 | ) | (0.10 | ) | (0.26 | ) | 11.57 | |||||||||||
2015 | 13.28 | 0.18 | (0.67 | ) | (0.49 | ) | (0.12 | ) | (1.21 | ) | (1.33 | ) | 11.46 | |||||||||
2014 | 10.91 | 0.14 | 2.30 | 2.44 | (0.07 | ) | – | (0.07 | ) | 13.28 | ||||||||||||
2013 | (h) | 10.00 | 0.10 | 0.81 | 0.91 | – | – | – | 10.91 |
7
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||
Ratio of Expenses to | |||||||||||||
Average Net Assets | |||||||||||||
(Excluding | |||||||||||||
Dividends and | |||||||||||||
Interest Expense on | |||||||||||||
Shorts, Short Sale | Ratio of Net | ||||||||||||
Ratio of Expenses | Fees and Reverse | Ratio of Gross | Investment Income | ||||||||||
Net Assets, End of | to Average Net | Repurchase | Expenses to Average | to Average Net | Portfolio | ||||||||
Total Return | Period (in thousands) | Assets | Agreement Expense) | Net Assets | Assets | Turnover Rate | |||||||
5.04 | % | $ | 1,156,731 | 2.18 | % | 1.60 | %(b) | 2.21 | %(c) | 1.03 | % | 317.6 | % |
1.80 | 2,265,206 | 2.08 | 1.61 | (b) | 2.08 | (c) | 0.46 | 233.9 | |||||
1.16 | 2,678,876 | 2.07 | 1.63 | (b) | 2.07 | (c) | (0.23 | ) | 142.5 | ||||
6.84 | 1,524,051 | 2.17 | 1.63 | (b) | 2.17 | (c) | 0.00 | 166.4 | |||||
3.23 | 932,801 | 2.26 | 1.65 | (b) | 2.28 | (c) | 0.34 | 135.6 | |||||
1.06 (e) | ,(f) | 1,532,177 | 2.10 | (g) | 1.54 (b) | ,(g) | 2.15 (c) | ,(g) | 1.51 | (g) | 317.6 | (g) | |
15.49 | 946,975 | 0.85 | N/A | 0.85 | (c) | 1.52 | 117.1 | ||||||
3.21 | 1,320,900 | 0.85 | N/A | – | 1.53 | 145.3 | |||||||
(3.72 | ) | 1,255,650 | 0.84 | N/A | 0.84 | (c) | 1.43 | 138.7 | |||||
22.41 | 1,403,422 | 0.84 | N/A | 0.84 | (c) | 1.14 | 128.4 | ||||||
9.10 | (e) | 1,104,538 | 0.90 | (g) | N/A | 0.90 (c) | ,(g) | 1.34 | (g) | 190.4 | (g) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Excludes dividends and interest expense on short sales, short sale fees and reverse repurchase agreement expense. See "Operating Policies" in notes to financial statements. |
(c) | Excludes expense reimbursement from Manager. |
(d) | Period from June 12, 2017, date operations commenced, through August 31, 2017. |
(e) | Total return amounts have not been annualized. |
(f) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(g) | Computed on an annualized basis. |
(h) | Period from December 28, 2012, date operations commenced, through August 31, 2013. |
8
FINANCIAL HIGHLIGHTS | |||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | |||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
INTERNATIONAL EQUITY INDEX FUND | |||||||||||||||||||||
Institutional shares | |||||||||||||||||||||
2017 | $ | 9.24 | $ | 0.27 | $ | 1.29 | $ | 1.56 | ($0.25 | ) | $– | ($0.25 | ) | $ | 10.55 | ||||||
2016 | 9.58 | 0.26 | (0.26 | ) | – | (0.23 | ) | (0.11 | ) | (0.34 | ) | 9.24 | |||||||||
2015 | 10.70 | 0.25 | (1.09 | ) | (0.84 | ) | (0.26 | ) | (0.02 | ) | (0.28 | ) | 9.58 | ||||||||
2014 | 10.91 | 0.31 | 1.34 | 1.65 | (0.32 | ) | (1.54 | ) | (1.86 | ) | 10.70 | ||||||||||
2013 | 9.51 | 0.28 | 1.43 | 1.71 | (0.31 | ) | – | (0.31 | ) | 10.91 | |||||||||||
R-1 shares | |||||||||||||||||||||
2017 | 8.93 | 0.18 | 1.26 | 1.44 | (0.17 | ) | – | (0.17 | ) | 10.20 | |||||||||||
2016 | 9.28 | 0.17 | (0.25 | ) | (0.08 | ) | (0.16 | ) | (0.11 | ) | (0.27 | ) | 8.93 | ||||||||
2015 | 10.40 | 0.18 | (1.08 | ) | (0.90 | ) | (0.20 | ) | (0.02 | ) | (0.22 | ) | 9.28 | ||||||||
2014 | 10.69 | 0.21 | 1.30 | 1.51 | (0.26 | ) | (1.54 | ) | (1.80 | ) | 10.40 | ||||||||||
2013 | 9.34 | 0.22 | 1.37 | 1.59 | (0.24 | ) | – | (0.24 | ) | 10.69 | |||||||||||
R-2 shares | |||||||||||||||||||||
2017 | 9.18 | 0.19 | 1.30 | 1.49 | (0.18 | ) | – | (0.18 | ) | 10.49 | |||||||||||
2016 | 9.52 | 0.19 | (0.26 | ) | (0.07 | ) | (0.16 | ) | (0.11 | ) | (0.27 | ) | 9.18 | ||||||||
2015 | 10.63 | 0.16 | (1.07 | ) | (0.91 | ) | (0.18 | ) | (0.02 | ) | (0.20 | ) | 9.52 | ||||||||
2014 | 10.89 | 0.25 | 1.31 | 1.56 | (0.28 | ) | (1.54 | ) | (1.82 | ) | 10.63 | ||||||||||
2013 | 9.52 | 0.23 | 1.40 | 1.63 | (0.26 | ) | – | (0.26 | ) | 10.89 | |||||||||||
R-3 shares | |||||||||||||||||||||
2017 | 9.07 | 0.20 | 1.28 | 1.48 | (0.20 | ) | – | (0.20 | ) | 10.35 | |||||||||||
2016 | 9.40 | 0.20 | (0.25 | ) | (0.05 | ) | (0.17 | ) | (0.11 | ) | (0.28 | ) | 9.07 | ||||||||
2015 | 10.51 | 0.20 | (1.08 | ) | (0.88 | ) | (0.21 | ) | (0.02 | ) | (0.23 | ) | 9.40 | ||||||||
2014 | 10.77 | 0.25 | 1.31 | 1.56 | (0.28 | ) | (1.54 | ) | (1.82 | ) | 10.51 | ||||||||||
2013 | 9.41 | 0.25 | 1.38 | 1.63 | (0.27 | ) | – | (0.27 | ) | 10.77 | |||||||||||
R-4 shares | |||||||||||||||||||||
2017 | 9.17 | 0.20 | 1.31 | 1.51 | (0.22 | ) | – | (0.22 | ) | 10.46 | |||||||||||
2016 | 9.50 | 0.21 | (0.24 | ) | (0.03 | ) | (0.19 | ) | (0.11 | ) | (0.30 | ) | 9.17 | ||||||||
2015 | 10.62 | 0.21 | (1.09 | ) | (0.88 | ) | (0.22 | ) | (0.02 | ) | (0.24 | ) | 9.50 | ||||||||
2014 | 10.85 | 0.27 | 1.33 | 1.60 | (0.29 | ) | (1.54 | ) | (1.83 | ) | 10.62 | ||||||||||
2013 | 9.46 | 0.27 | 1.38 | 1.65 | (0.26 | ) | – | (0.26 | ) | 10.85 | |||||||||||
R-5 shares | |||||||||||||||||||||
2017 | 9.18 | 0.23 | 1.31 | 1.54 | (0.23 | ) | – | (0.23 | ) | 10.49 | |||||||||||
2016 | 9.52 | 0.22 | (0.25 | ) | (0.03 | ) | (0.20 | ) | (0.11 | ) | (0.31 | ) | 9.18 | ||||||||
2015 | 10.64 | 0.23 | (1.10 | ) | (0.87 | ) | (0.23 | ) | (0.02 | ) | (0.25 | ) | 9.52 | ||||||||
2014 | 10.86 | 0.28 | 1.34 | 1.62 | (0.30 | ) | (1.54 | ) | (1.84 | ) | 10.64 | ||||||||||
2013 | 9.48 | 0.28 | 1.39 | 1.67 | (0.29 | ) | – | (0.29 | ) | 10.86 | |||||||||||
R-6 shares | |||||||||||||||||||||
2017 | (d) | 9.01 | 0.14 | 1.39 | 1.53 | – | – | – | 10.54 |
9
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
17.42 | % | $ | 67,784 | 0.32 | % | 0.32% | (b) | 2.83 | % | 24.7 | % |
(0.02 | ) | 831,719 | 0.34 | 0.34 | (b) | 2.83 | 31.3 | ||||
(7.90 | ) | 736,329 | 0.32 | 0.32 | (b) | 2.51 | 35.6 | ||||
15.97 | 677,283 | 0.33 | 0.33 | (b) | 2.87 | 45.8 | |||||
18.16 | 424,630 | 0.34 | 0.34 | (b) | 2.67 | 46.2 | |||||
16.43 | 1,000 | 1.19 | – | 1.93 | 24.7 | ||||||
(0.90 | ) | 586 | 1.21 | – | 1.93 | 31.3 | |||||
(8.68 | ) | 696 | 1.19 | 1.19 | (b) | 1.84 | 35.6 | ||||
14.89 | 334 | 1.20 | 1.20 | (b) | 1.97 | 45.8 | |||||
17.19 | 123 | 1.24 | 1.24 | (b) | 2.08 | 46.2 | |||||
16.66 | (c) | 874 | 1.06 | – | 1.96 | 24.7 | |||||
(0.75 | ) | 903 | 1.08 | – | 2.12 | 31.3 | |||||
(8.58 | ) | 754 | 1.06 | 1.06 | (b) | 1.60 | 35.6 | ||||
15.05 | 1,203 | 1.07 | 1.07 | (b) | 2.27 | 45.8 | |||||
17.30 | 490 | 1.11 | 1.11 | (b) | 2.19 | 46.2 | |||||
16.77 | 18,585 | 0.88 | – | 2.14 | 24.7 | ||||||
(0.49 | ) | 15,789 | 0.90 | – | 2.26 | 31.3 | |||||
(8.45 | ) | 15,450 | 0.88 | 0.88 | (b) | 1.99 | 35.6 | ||||
15.28 | 12,323 | 0.89 | 0.89 | (b) | 2.34 | 45.8 | |||||
17.51 | 8,197 | 0.93 | 0.93 | (b) | 2.37 | 46.2 | |||||
16.93 | 13,372 | 0.69 | – | 2.14 | 24.7 | ||||||
(0.30 | ) | 11,997 | 0.71 | – | 2.32 | 31.3 | |||||
(8.32 | ) | 11,862 | 0.69 | 0.69 | (b) | 2.11 | 35.6 | ||||
15.57 | 13,822 | 0.70 | 0.70 | (b) | 2.52 | 45.8 | |||||
17.68 | 7,801 | 0.74 | 0.74 | (b) | 2.53 | 46.2 | |||||
17.23 | 29,429 | 0.57 | – | 2.35 | 24.7 | ||||||
(0.30 | ) | 29,179 | 0.59 | – | 2.49 | 31.3 | |||||
(8.18 | ) | 33,729 | 0.57 | 0.57 | (b) | 2.23 | 35.6 | ||||
15.71 | 37,859 | 0.58 | 0.58 | (b) | 2.62 | 45.8 | |||||
17.84 | 24,896 | 0.62 | 0.62 | (b) | 2.65 | 46.2 | |||||
16.98 | (e) | 924,600 | 0.27 | (f) | 0.32 (b) | ,(f) | 2.02 | (f) | 24.7 | (f) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Excludes expense reimbursement from Manager. |
(c) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(d) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
(e) | Total return amounts have not been annualized. |
(f) | Computed on an annualized basis. |
10
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,INC.
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
INTERNATIONAL SMALL COMPANY FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | $ | 9.87 | $ | 0.18 | $ | 2.15 | $ | 2.33 | ($0.03 | ) | $– | ($0.03 | ) | $ | 12.17 | |||||||
2016 | 9.61 | 0.08 | 0.30 | 0.38 | (0.12 | ) | – | (0.12 | ) | 9.87 | ||||||||||||
2015 | (c) | 9.07 | 0.09 | 0.45 | 0.54 | – | – | – | 9.61 | |||||||||||||
R-6 shares | ||||||||||||||||||||||
2017 | (f) | 9.83 | 0.02 | 2.36 | 2.38 | – | – | – | 12.21 | |||||||||||||
MULTI-MANAGER EQUITY LONG/SHORT FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | 9.99 | (0.04 | ) | 0.75 | 0.71 | (0.05 | ) | (0.03 | ) | (0.08 | ) | 10.62 | ||||||||||
2016 | (h) | 10.00 | (0.04 | ) | 0.03 | (0.01 | ) | – | – | – | 9.99 | |||||||||||
R-6 shares | ||||||||||||||||||||||
2017 | 9.99 | (0.07 | ) | 0.79 | 0.72 | (0.05 | ) | (0.03 | ) | (0.08 | ) | 10.63 | ||||||||||
2016 | (h) | 10.00 | (0.04 | ) | 0.03 | (0.01 | ) | – | – | – | 9.99 | |||||||||||
OPPORTUNISTIC MUNICIPAL FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | 11.03 | 0.43 | (0.39 | ) | 0.04 | (0.41 | ) | – | (0.41 | ) | 10.66 | |||||||||||
2016 | 10.20 | 0.39 | 0.84 | 1.23 | (0.40 | ) | – | (0.40 | ) | 11.03 | ||||||||||||
2015 | (j) | 10.29 | 0.20 | (0.09 | ) | 0.11 | (0.20 | ) | – | (0.20 | ) | 10.20 | ||||||||||
ORIGIN EMERGING MARKETS FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | 8.97 | 0.05 | 2.66 | 2.71 | (0.07 | ) | – | (0.07 | ) | 11.61 | ||||||||||||
2016 | 8.42 | 0.07 | 0.56 | 0.63 | (0.08 | ) | – | (0.08 | ) | 8.97 | ||||||||||||
2015 | (k) | 10.00 | 0.18 | (1.76 | ) | (1.58 | ) | – | – | – | 8.42 | |||||||||||
R-6 shares | ||||||||||||||||||||||
2017 | 8.97 | 0.50 | 2.21 | 2.71 | (0.07 | ) | – | (0.07 | ) | 11.61 | ||||||||||||
2016 | 8.42 | 0.07 | 0.56 | 0.63 | (0.08 | ) | – | (0.08 | ) | 8.97 | ||||||||||||
2015 | (k) | 10.00 | (0.02 | ) | (1.56 | ) | (1.58 | ) | – | – | – | 8.42 |
11
FINANCIAL
HIGHLIGHTS
(Continued)
PRINCIPAL
FUNDS,INC.
Ratio of Expenses | ||||||||||||||
to Average Net | ||||||||||||||
Assets (Excluding | ||||||||||||||
Ratio of | Dividends and | Ratio of Net | ||||||||||||
Net Assets, End | Expenses to | Interest Expense on | Ratio of Expenses to Average | Ratio of Gross | Investment Income | Portfolio | ||||||||
of Period (in | Average Net | Shorts and Short | Net Assets (Excluding Interest | Expenses to | to Average Net | Turnover | ||||||||
Total Return | thousands) | Assets | Sale Fees) | Expense Fees) | Average Net Assets | Assets | Rate | |||||||
23.66 | % | $ | 1,991 | 1.08 | % | N/A | N/A | 1.08 | %(b) | 1.72 | % | 58.8 | % | |
3.99 | 168,786 | 1.20 | N/A | N/A | 1.23 | (b) | 0.82 | 49.9 | ||||||
5.95 | (d) | 3,374 | 1.20 | (e) | N/A | N/A | 4.14 (b) | ,(e) | 1.39 | (e) | 62.8 | (e) | ||
24.21 | (d) | 1,002,985 | 1.06 | (e) | N/A | N/A | 1.09 (b) | ,(e) | 0.24 | (e) | 58.8 | (e) | ||
7.09 | 80 | 2.49 | 1.67 (g) | N/A | 31.95 | (b) | (0.42 | ) | 301.2 | |||||
(0.10 | ) (d) | 10 | 2.45 | (e) | 1.67 (e),(g) | N/A | 486.48 (b) | ,(e) | (0.99 | ) (e) | 412.4 | (e) | ||
7.19 | 323,616 | 2.42 | 1.60 (g) | N/A | 2.45 | (b) | (0.63 | ) | 301.2 | |||||
(0.10 | ) (d) | 325,987 | 2.38 | (e) | 1.60 (e),(g) | N/A | 2.45 (b) | ,(e) | (0.93 | ) (e) | 412.4 | (e) | ||
0.48 | 61,797 | 0.69 | N/A | 0.63 | (i) | 0.79 | (b) | 4.10 | 67.9 | |||||
12.23 | 3,606 | 0.70 | N/A | 0.65 | (i) | 2.42 | (b) | 3.57 | 53.5 | |||||
1.04 | (d) | 10 | 0.71 | (e) | N/A | 0.65 (e) | ,(i) | 452.62 (b) | ,(e) | 4.14 | (e) | 54.9 | (e) | |
30.58 | 35,584 | 1.24 | N/A | N/A | 1.24 | (b) | 0.51 | 66.3 | ||||||
7.50 | 778,143 | 1.24 | N/A | N/A | 1.24 | (b) | 0.86 | 69.0 | ||||||
(15.80 | ) (d) | 816,035 | 1.25 | (e) | N/A | N/A | 1.31 (b) | ,(e) | 3.01 | (e) | 86.6 | (e) | ||
30.54 | 662,808 | 1.21 | N/A | N/A | 1.23 | (b) | 4.54 | 66.3 | ||||||
7.50 | 90 | 1.26 | N/A | N/A | 25.47 | (b) | 0.87 | 69.0 | ||||||
(15.80 | ) (d) | 85 | 1.26 | (e) | N/A | N/A | 8.94 (b) | ,(e) | (0.41 | ) (e) | 86.6 | (e) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Excludes expense reimbursement from Manager. |
(c) | Period from December 31, 2014, date operations commenced, through August 31, 2015. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
(f) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
(g) | Excludes dividends and interest expense on short sales and short sale fees. See "Operating Policies" in notes to financial statements. |
(h) | Period from March 31, 2016, date operations commenced, through August 31, 2016. |
(i) | Excludes interest expense and fees paid through inverse floater agreements. See "Operating Policies" in notes to financial statements. |
(j) | Period from March 10, 2015, date operations commenced, through August 31, 2015. |
(k) | Period from January 23, 2015, date operations commenced, through August 31, 2015. |
12
FINANCIAL HIGHLIGHTS | |||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | |||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
PREFERRED SECURITIES FUND | |||||||||||||||||||||
Class J shares | |||||||||||||||||||||
2017 | $ | 10.11 | $ | 0.49 | $ | 0.22 | $ | 0.71 | ($0.47 | ) | ($0.09 | ) | ($0.56 | ) | $ | 10.26 | |||||
2016 | 10.01 | 0.48 | 0.18 | 0.66 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.11 | ||||||||||
2015 | 10.34 | 0.48 | (0.12 | ) | 0.36 | (0.51 | ) | (0.18 | ) | (0.69 | ) | 10.01 | |||||||||
2014 | 9.97 | 0.51 | 0.65 | 1.16 | (0.52 | ) | (0.27 | ) | (0.79 | ) | 10.34 | ||||||||||
2013 | 10.17 | 0.51 | (0.12 | ) | 0.39 | (0.53 | ) | (0.06 | ) | (0.59 | ) | 9.97 | |||||||||
Institutional shares | |||||||||||||||||||||
2017 | 10.30 | 0.52 | 0.23 | 0.75 | (0.50 | ) | (0.09 | ) | (0.59 | ) | 10.46 | ||||||||||
2016 | 10.18 | 0.52 | 0.19 | 0.71 | (0.50 | ) | (0.09 | ) | (0.59 | ) | 10.30 | ||||||||||
2015 | 10.51 | 0.53 | (0.14 | ) | 0.39 | (0.54 | ) | (0.18 | ) | (0.72 | ) | 10.18 | |||||||||
2014 | 10.12 | 0.56 | 0.66 | 1.22 | (0.56 | ) | (0.27 | ) | (0.83 | ) | 10.51 | ||||||||||
2013 | 10.31 | 0.57 | (0.12 | ) | 0.45 | (0.58 | ) | (0.06 | ) | (0.64 | ) | 10.12 | |||||||||
R-1 shares | |||||||||||||||||||||
2017 | 10.25 | 0.44 | 0.22 | 0.66 | (0.41 | ) | (0.09 | ) | (0.50 | ) | 10.41 | ||||||||||
2016 | 10.14 | 0.43 | 0.19 | 0.62 | (0.42 | ) | (0.09 | ) | (0.51 | ) | 10.25 | ||||||||||
2015 | 10.46 | 0.44 | (0.12 | ) | 0.32 | (0.46 | ) | (0.18 | ) | (0.64 | ) | 10.14 | |||||||||
2014 | 10.08 | 0.47 | 0.66 | 1.13 | (0.48 | ) | (0.27 | ) | (0.75 | ) | 10.46 | ||||||||||
2013 | 10.28 | 0.48 | (0.13 | ) | 0.35 | (0.49 | ) | (0.06 | ) | (0.55 | ) | 10.08 | |||||||||
R-2 shares | |||||||||||||||||||||
2017 | 10.20 | 0.45 | 0.22 | 0.67 | (0.43 | ) | (0.09 | ) | (0.52 | ) | 10.35 | ||||||||||
2016 | 10.09 | 0.45 | 0.18 | 0.63 | (0.43 | ) | (0.09 | ) | (0.52 | ) | 10.20 | ||||||||||
2015 | 10.42 | 0.45 | (0.12 | ) | 0.33 | (0.48 | ) | (0.18 | ) | (0.66 | ) | 10.09 | |||||||||
2014 | 10.04 | 0.48 | 0.66 | 1.14 | (0.49 | ) | (0.27 | ) | (0.76 | ) | 10.42 | ||||||||||
2013 | 10.24 | 0.49 | (0.12 | ) | 0.37 | (0.51 | ) | (0.06 | ) | (0.57 | ) | 10.04 | |||||||||
R-3 shares | |||||||||||||||||||||
2017 | 10.23 | 0.47 | 0.22 | 0.69 | (0.44 | ) | (0.09 | ) | (0.53 | ) | 10.39 | ||||||||||
2016 | 10.12 | 0.47 | 0.18 | 0.65 | (0.45 | ) | (0.09 | ) | (0.54 | ) | 10.23 | ||||||||||
2015 | 10.45 | 0.47 | (0.13 | ) | 0.34 | (0.49 | ) | (0.18 | ) | (0.67 | ) | 10.12 | |||||||||
2014 | 10.07 | 0.51 | 0.65 | 1.16 | (0.51 | ) | (0.27 | ) | (0.78 | ) | 10.45 | ||||||||||
2013 | 10.26 | 0.51 | (0.11 | ) | 0.40 | (0.53 | ) | (0.06 | ) | (0.59 | ) | 10.07 | |||||||||
R-4 shares | |||||||||||||||||||||
2017 | 10.21 | 0.48 | 0.23 | 0.71 | (0.46 | ) | (0.09 | ) | (0.55 | ) | 10.37 | ||||||||||
2016 | 10.10 | 0.49 | 0.18 | 0.67 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.21 | ||||||||||
2015 | 10.44 | 0.50 | (0.15 | ) | 0.35 | (0.51 | ) | (0.18 | ) | (0.69 | ) | 10.10 | |||||||||
2014 | 10.06 | 0.53 | 0.65 | 1.18 | (0.53 | ) | (0.27 | ) | (0.80 | ) | 10.44 | ||||||||||
2013 | 10.25 | 0.53 | (0.11 | ) | 0.42 | (0.55 | ) | (0.06 | ) | (0.61 | ) | 10.06 | |||||||||
R-5 shares | |||||||||||||||||||||
2017 | 10.26 | 0.50 | 0.23 | 0.73 | (0.48 | ) | (0.09 | ) | (0.57 | ) | 10.42 | ||||||||||
2016 | 10.15 | 0.50 | 0.18 | 0.68 | (0.48 | ) | (0.09 | ) | (0.57 | ) | 10.26 | ||||||||||
2015 | 10.47 | 0.50 | (0.12 | ) | 0.38 | (0.52 | ) | (0.18 | ) | (0.70 | ) | 10.15 | |||||||||
2014 | 10.09 | 0.53 | 0.66 | 1.19 | (0.54 | ) | (0.27 | ) | (0.81 | ) | 10.47 | ||||||||||
2013 | 10.28 | 0.55 | (0.12 | ) | 0.43 | (0.56 | ) | (0.06 | ) | (0.62 | ) | 10.09 | |||||||||
R-6 shares | |||||||||||||||||||||
2017 | (f) | 9.91 | 0.35 | 0.53 | 0.88 | (0.33 | ) | – | (0.33 | ) | 10.46 |
13
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
7.37% | (b) | $ | 51,417 | 1.00 | % | 1.03% | (c) | 4.88 | % | 16.1 | % |
6.87 | (b) | 50,135 | 1.06 | 1.10 | (c) | 4.84 | 13.9 | ||||
3.59 | (b) | 43,477 | 1.14 | 1.16 | (c) | 4.72 | 16.9 | ||||
12.24 | (b) | 39,563 | 1.20 | 1.28 | (c) | 5.02 | 20.1 | ||||
3.74 | (b) | 33,590 | 1.27 | 1.47 | (c) | 4.91 | 31.5 | ||||
7.58 | 3,817,309 | 0.77 | 0.77 | (d) | 5.11 | 16.1 | |||||
7.26 | 2,444,823 | 0.76 | – | 5.14 | 13.9 | ||||||
3.91 | 1,923,458 | 0.76 | – | 5.12 | 16.9 | ||||||
12.76 | 2,033,946 | 0.75 | – | 5.48 | 20.1 | ||||||
4.32 | 1,884,821 | 0.75 | 0.75 | (d) | 5.42 | 31.5 | |||||
6.75 | 1,315 | 1.58 | – | 4.31 | 16.1 | ||||||
6.32 | 1,572 | 1.58 | – | 4.32 | 13.9 | ||||||
3.16 | 1,332 | 1.58 | – | 4.27 | 16.9 | ||||||
11.78 | 1,751 | 1.59 | – | 4.66 | 20.1 | ||||||
3.38 | 1,761 | 1.58 | – | 4.58 | 31.5 | ||||||
6.84 | 1,760 | 1.45 | – | 4.44 | 16.1 | ||||||
6.49 | 1,234 | 1.45 | – | 4.45 | 13.9 | ||||||
3.25 | 1,556 | 1.45 | – | 4.43 | 16.9 | ||||||
11.98 | 845 | 1.46 | – | 4.75 | 20.1 | ||||||
3.51 | 1,009 | 1.45 | – | 4.70 | 31.5 | ||||||
7.09 | 2,676 | 1.27 | – | 4.62 | 16.1 | ||||||
6.66 | 3,311 | 1.27 | – | 4.63 | 13.9 | ||||||
3.40 | 3,758 | 1.27 | – | 4.60 | 16.9 | ||||||
12.13 | 4,074 | 1.28 | – | 4.98 | 20.1 | ||||||
3.81 | 4,107 | 1.27 | – | 4.91 | 31.5 | ||||||
7.30 | 1,304 | 1.08 | – | 4.78 | 16.1 | ||||||
6.86 | 1,395 | 1.08 | – | 4.89 | 13.9 | ||||||
3.52 | 1,543 | 1.08 | – | 4.87 | 16.9 | ||||||
12.35 | 1,221 | 1.09 | – | 5.22 | 20.1 | ||||||
4.01 | 1,436 | 1.08 | – | 5.11 | 31.5 | ||||||
7.40 | 3,506 | 0.96 | – | 4.92 | 16.1 | ||||||
7.07 | (e) | 4,216 | 0.96 | – | 4.93 | 13.9 | |||||
3.72 | (e) | 3,665 | 0.96 | – | 4.90 | 16.9 | |||||
12.45 | 3,350 | 0.97 | – | 5.24 | 20.1 | ||||||
4.12 | 4,963 | 0.96 | – | 5.27 | 31.5 | ||||||
8.98 | (g) | 520,462 | 0.71 | (h) | 0.72 (d) | ,(h) | 5.08 | (h) | 16.1 | (h) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the contingent deferred sales charge. |
(c) | Excludes expense reimbursement from Manager and/or Distributor. |
(d) | Excludes expense reimbursement from Manager. |
(e) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(f) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
(g) | Total return amounts have not been annualized. |
(h) | Computed on an annualized basis. |
14
FINANCIAL HIGHLIGHTS | ||||||||||||||||||||||
PRINCIPAL FUNDS, INC. | ||||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | ||||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
REAL ESTATE ALLOCATION FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | $ | 10.42 | $ | 0.31 | ($0.13 | ) | $ | 0.18 | ($0.27 | ) | ($0.05 | ) | ($0.32 | ) | $ | 10.28 | ||||||
2016 | 9.65 | 0.19 | 0.83 | 1.02 | (0.25 | ) | – | (0.25 | ) | 10.42 | ||||||||||||
2015 | (d) | 10.00 | 0.14 | (0.42 | ) | (0.28 | ) | (0.07 | ) | – | (0.07 | ) | 9.65 | |||||||||
REAL ESTATE DEBT INCOME FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | 9.87 | 0.35 | (0.17 | ) | 0.18 | (0.31 | ) | – | (0.31 | ) | 9.74 | |||||||||||
2016 | 9.76 | 0.30 | 0.13 | 0.43 | (0.32 | ) | – | (0.32 | ) | 9.87 | ||||||||||||
2015 | (d) | 10.00 | 0.24 | (0.25 | ) | (0.01 | ) | (0.23 | ) | – | (0.23 | ) | 9.76 | |||||||||
R-6 shares | ||||||||||||||||||||||
2017 | (h) | 9.49 | 0.23 | 0.23 | 0.46 | (0.21 | ) | – | (0.21 | ) | 9.74 | |||||||||||
SMALL-MIDCAP DIVIDEND INCOME FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | 15.01 | 0.41 | 1.61 | 2.02 | (0.38 | ) | – | (0.38 | ) | 16.65 | ||||||||||||
2016 | 12.79 | 0.39 | 2.43 | 2.82 | (0.34 | ) | (0.26 | ) | (0.60 | ) | 15.01 | |||||||||||
2015 | 14.40 | 0.42 | (1.38 | ) | (0.96 | ) | (0.34 | ) | (0.31 | ) | (0.65 | ) | 12.79 | |||||||||
2014 | 12.29 | 0.43 | 2.25 | 2.68 | (0.31 | ) | (0.26 | ) | (0.57 | ) | 14.40 | |||||||||||
2013 | 10.49 | 0.41 | 1.78 | 2.19 | (0.36 | ) | (0.03 | ) | (0.39 | ) | 12.29 | |||||||||||
R-6 shares | ||||||||||||||||||||||
2017 | (h) | 16.17 | 0.33 | 0.22 | 0.55 | (0.06 | ) | – | (0.06 | ) | 16.66 | |||||||||||
SYSTEMATEX INTERNATIONAL FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2017 | 10.43 | 0.13 | 1.69 | 1.82 | (0.22 | ) | – | (0.22 | ) | 12.03 | ||||||||||||
2016 | (i) | 10.00 | 0.24 | 0.26 | 0.50 | (0.05 | ) | (0.02 | ) | (0.07 | ) | 10.43 | ||||||||||
R-6 shares | ||||||||||||||||||||||
2017 | 10.44 | 0.26 | 1.64 | 1.90 | (0.22 | ) | – | (0.22 | ) | 12.12 | ||||||||||||
2016 | (i) | 10.00 | 0.31 | 0.20 | 0.51 | (0.05 | ) | (0.02 | ) | (0.07 | ) | 10.44 | ||||||||||
SYSTEMATEX LARGE VALUE FUND | ||||||||||||||||||||||
R-6 shares | ||||||||||||||||||||||
2017 | 11.25 | 0.23 | 1.13 | 1.36 | (0.24 | ) | – | (0.24 | ) | 12.37 | ||||||||||||
2016 | (i) | 10.00 | 0.23 | 1.11 | 1.34 | (0.07 | ) | (0.02 | ) | (0.09 | ) | 11.25 |
15
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
1.87 | % | $ | 320 | 0.15% | (b) | 9.24%(b),(c) | 3.09 | % | 44.4 | % | |
10.73 | 188 | 0.15 | (b) | 22.98 (b) | ,(c) | 1.86 | 76.4 | ||||
(2.80) | (e) | 10 | 0.15 (b) | ,(f) | 338.94 (b),(c),(f) | 2.16 | (f) | 33.5 | (f) | ||
1.87 | 2,109 | 0.59 | 0.59 | (c) | 3.65 | 13.1 | |||||
4.69 | (g) | 153,816 | 0.63 | 0.63 | (c) | 3.11 | 20.1 | ||||
(0.22) (e),(g) | 22,371 | 0.70 | (f) | 0.84 (c) | ,(f) | 3.59 | (f) | 42.2 | (f) | ||
4.90 | (e) | 188,307 | 0.57 | (f) | 0.64 (c) | ,(f) | 3.58 | (f) | 13.1 | (f) | |
13.56 | 2,179,792 | 0.86 | 0.89 | (c) | 2.51 | 25.5 | |||||
22.94 | 1,142,465 | 0.82 | 0.82 | (c) | 2.90 | 25.8 | |||||
(6.89 | ) | 849,929 | 0.86 | 0.88 | (c) | 3.00 | 29.3 | ||||
22.19 | 554,543 | 0.80 | – | 3.14 | 18.2 | ||||||
21.32 | 353,059 | 0.82 | – | 3.54 | 18.5 | ||||||
3.43 | (e) | 610,070 | 0.77 | (f) | 0.78 (c) | ,(f) | 2.96 | (f) | 25.5 | (f) | |
17.86 | 554 | 0.75 | 1.87 | (c) | 1.25 | 44.3 | |||||
4.93 | (e) | 4,198 | 0.75 | (f) | 1.61 (c) | ,(f) | 2.59 | (f) | 60.2 | (f) | |
18.62 | 76,182 | 0.62 | 0.78 | (c) | 2.39 | 44.3 | |||||
5.03 | (e) | 59,094 | 0.62 | (f) | 1.11 (c) | ,(f) | 3.26 | (f) | 60.2 | (f) | |
12.21 | 9,449 | 0.42 | 1.12 | (c) | 1.98 | 46.6 | |||||
13.50 | (e) | 8,516 | 0.42 | (f) | 1.16 (c) | ,(f) | 2.33 | (f) | 60.8 | (f) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Does not include expenses of the investment companies in which the Fund invests. |
(c) | Excludes expense reimbursement from Manager. |
(d) | Period from December 31, 2014, date operations commenced, through August 31, 2015. |
(e) | Total return amounts have not been annualized. |
(f) | Computed on an annualized basis. |
(g) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(h) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
(i) | Period from September 22, 2015, date operations commenced, through August 31, 2016. |
16
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,INC.
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
BLUE CHIP FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | $ | 16.85 | $ | 0.07 | $ | 3.08 | $ | 3.15 | $– | ($0.09 | ) | ($0.09 | ) | $ | 19.91 | |||||||
2016 | 15.52 | (0.04 | ) | 1.69 | 1.65 | (0.01 | ) | (0.31 | ) | (0.32 | ) | 16.85 | ||||||||||
2015 | 15.07 | (0.01 | ) | 0.86 | 0.85 | (0.02 | ) | (0.38 | ) | (0.40 | ) | 15.52 | ||||||||||
2014 | (e) | 12.93 | 0.03 | 2.14 | 2.17 | (0.03 | ) | – | (0.03 | ) | 15.07 | |||||||||||
Class C shares | ||||||||||||||||||||||
2017 | 16.52 | (0.07 | ) | 3.01 | 2.94 | – | (0.09 | ) | (0.09 | ) | 19.37 | |||||||||||
2016 | 15.33 | (0.16 | ) | 1.66 | 1.50 | – | (0.31 | ) | (0.31 | ) | 16.52 | |||||||||||
2015 | 14.97 | (0.12 | ) | 0.86 | 0.74 | – | (0.38 | ) | (0.38 | ) | 15.33 | |||||||||||
2014 | (e) | 12.93 | (0.07 | ) | 2.13 | 2.06 | (0.02 | ) | – | (0.02 | ) | 14.97 | ||||||||||
Class T shares | ||||||||||||||||||||||
2017 | (h) | 19.11 | 0.04 | 0.93 | 0.97 | – | – | – | 20.08 | |||||||||||||
DIVERSIFIED REAL ASSET FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | 11.07 | 0.17 | 0.55 | 0.72 | (0.26 | ) | – | (0.26 | ) | 11.53 | ||||||||||||
2016 | 11.22 | 0.17 | (0.27 | ) | (0.10 | ) | (0.05 | ) | – | (0.05 | ) | 11.07 | ||||||||||
2015 | 13.18 | 0.13 | (1.88 | ) | (1.75 | ) | (0.08 | ) | (0.13 | ) | (0.21 | ) | 11.22 | |||||||||
2014 | 11.72 | 0.16 | 1.45 | 1.61 | (0.04 | ) | (0.11 | ) | (0.15 | ) | 13.18 | |||||||||||
2013 | 11.91 | 0.15 | 0.07 | 0.22 | (0.11 | ) | (0.30 | ) | (0.41 | ) | 11.72 | |||||||||||
Class C shares | ||||||||||||||||||||||
2017 | 10.80 | 0.10 | 0.53 | 0.63 | (0.14 | ) | – | (0.14 | ) | 11.29 | ||||||||||||
2016 | 10.98 | 0.09 | (0.27 | ) | (0.18 | ) | – | – | – | 10.80 | ||||||||||||
2015 | 12.91 | 0.04 | (1.84 | ) | (1.80 | ) | – | (0.13 | ) | (0.13 | ) | 10.98 | ||||||||||
2014 | 11.55 | 0.07 | 1.42 | 1.49 | (0.02 | ) | (0.11 | ) | (0.13 | ) | 12.91 | |||||||||||
2013 | 11.75 | 0.06 | 0.07 | 0.13 | (0.03 | ) | (0.30 | ) | (0.33 | ) | 11.55 |
17
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of | Ratio of Net | ||||||||||
Expenses to | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return(b) | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
18.81 | % | $ | 71,738 | 1.15 | % | 1.15 | %(d) | 0.41 | % | 27.1 | % |
10.77 | 36,575 | 1.28 | 1.28 | (d) | (0.26 | ) | 36.4 | ||||
5.78 | 20,629 | 1.35 | 1.39 | (d) | (0.04 | ) | 26.2 | ||||
16.83 | (f) | 8,637 | 1.35 | (g) | 1.95 (d) | ,(g) | 0.25 | (g) | 34.4 | (g) | |
17.91 | 40,344 | 1.94 | 1.94 | (d) | (0.41 | ) | 27.1 | ||||
9.93 | 21,705 | 2.08 | 2.08 | (d) | (1.06 | ) | 36.4 | ||||
5.04 | 11,985 | 2.10 | 2.33 | (d) | (0.77 | ) | 26.2 | ||||
15.99 | (f) | 3,321 | 2.10 | (g) | 4.22 (d) | ,(g) | (0.51 | ) (g) | 34.4 | (g) | |
5.08 | (f) | 11 | 1.22 | (g) | 857.12 (d) | ,(g) | 1.00 | (g) | 27.1 | (g) | |
6.63 | 118,212 | 1.25 | 1.53 | (d) | 1.58 | 65.1 | |||||
(0.85 | ) | 210,864 | 1.25 | 1.28 | (d) | 1.59 | 77.6 | ||||
(13.33 | ) | 109,677 | 1.25 | 1.25 | (d) | 1.06 | 66.4 | ||||
13.91 | 127,019 | 1.25 | 1.27 | (d) | 1.31 | 67.3 | |||||
1.89 | 281,607 | 1.25 | 1.47 | (d) | 1.25 | 78.7 | |||||
5.83 | (c) | 24,940 | 2.00 | 2.10 | (d) | 0.88 | 65.1 | ||||
(1.55 | ) (c) | 31,350 | 2.00 | 2.12 | (d) | 0.86 | 77.6 | ||||
(13.98 | ) | 45,514 | 2.00 | 2.04 | (d) | 0.30 | 66.4 | ||||
13.07 | 55,741 | 2.00 | 2.04 | (d) | 0.57 | 67.3 | |||||
1.10 | 49,372 | 2.00 | 2.04 | (d) | 0.51 | 78.7 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(d) | Excludes expense reimbursement from Manager. |
(e) | Period from September 30, 2013, date shares first offered, through August 31, 2014. |
(f) | Total return amounts have not been annualized. |
(g) | Computed on an annualized basis. |
(h) | Period from June 12, 2017, date shares first offered, through August 31, 2017. |
18
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,INC.
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
DYNAMIC FLOATING RATE HIGH INCOME FUND(c) | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | $ | 9.14 | $ | 0.41 | $ | 0.12 | $ | 0.53 | ($0.42 | ) | $– | ($0.42 | ) | $ | 9.25 | |||||||
2016 | 9.39 | 0.44 | (0.21 | ) | 0.23 | (0.48 | ) | – | (0.48 | ) | 9.14 | |||||||||||
2015 | (g) | 10.00 | 0.40 | (0.61 | ) | (0.21 | ) | (0.40 | ) | – | (0.40 | ) | 9.39 | |||||||||
GLOBAL MULTI-STRATEGY FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | 10.77 | 0.08 | 0.43 | 0.51 | – | – | – | 11.28 | ||||||||||||||
2016 | 10.91 | 0.01 | 0.14 | 0.15 | (0.06 | ) | (0.23 | ) | (0.29 | ) | 10.77 | |||||||||||
2015 | 11.04 | (0.06 | ) | 0.16 | 0.10 | (0.06 | ) | (0.17 | ) | (0.23 | ) | 10.91 | ||||||||||
2014 | 10.47 | (0.04 | ) | 0.70 | 0.66 | (0.01 | ) | (0.08 | ) | (0.09 | ) | 11.04 | ||||||||||
2013 | 10.32 | – | 0.29 | 0.29 | – | (0.14 | ) | (0.14 | ) | 10.47 | ||||||||||||
Class C shares | ||||||||||||||||||||||
2017 | 10.56 | (0.01 | ) | 0.42 | 0.41 | – | – | – | 10.97 | |||||||||||||
2016 | 10.73 | (0.07 | ) | 0.13 | 0.06 | – | (0.23 | ) | (0.23 | ) | 10.56 | |||||||||||
2015 | 10.90 | (0.15 | ) | 0.15 | – | – | (0.17 | ) | (0.17 | ) | 10.73 | |||||||||||
2014 | 10.40 | (0.12 | ) | 0.70 | 0.58 | – | (0.08 | ) | (0.08 | ) | 10.90 | |||||||||||
2013 | 10.33 | (0.08 | ) | 0.29 | 0.21 | – | (0.14 | ) | (0.14 | ) | 10.40 |
19
FINANCIAL
HIGHLIGHTS
(Continued)
PRINCIPAL
FUNDS,INC.
Ratio of Expenses to | |||||||||||||
Average Net Assets | |||||||||||||
(Excluding | |||||||||||||
Dividends and | |||||||||||||
Interest Expense on | |||||||||||||
Ratio of | Short Sales, Short | Ratio of Net | |||||||||||
Expenses to | Sale Fees and | Ratio of Gross | Investment Income | ||||||||||
Net Assets, End of | Average Net | Reverse Repurchase | Expenses to Average | to Average Net | Portfolio | ||||||||
Total Return(b) | Period (in thousands) | Assets | Agreement Expense) | Net Assets | Assets | Turnover Rate | |||||||
5.94 | %(d) | $ | 2,959 | 1.10 | % | N/A | 1.79 | %(f) | 4.42 | % | 104.0 | % | |
2.51 | (d) | 7,267 | 1.10 | N/A | 1.67 | (f) | 4.88 | 112.8 | |||||
(2.00) (d),(h) | 7,752 | 1.10 | (i) | N/A | 1.69 (f) | ,(i) | 4.24 | (i) | 94.0 | (i) | |||
4.74 | 112,799 | 2.50 | 1.92% (e) | 2.52 | (f) | 0.72 | 317.6 | ||||||
1.41 | 145,370 | 2.41 | 1.94(e) | 2.41 | (f) | 0.11 | 233.9 | ||||||
0.93 | 183,527 | 2.39 | 1.95(e) | 2.39 | (f) | (0.55 | ) | 142.5 | |||||
6.37 | 93,900 | 2.54 | 2.00(e) | 2.57 | (f) | (0.36 | ) | 166.4 | |||||
2.85 | 100,180 | 2.61 | 2.00(e) | 2.74 | (f) | (0.07 | ) | 135.6 | |||||
3.88 | 48,130 | 3.31 | 2.73(e) | 3.33 | (f) | (0.08 | ) | 317.6 | |||||
0.61 | 56,557 | 3.22 | 2.75(e) | 3.24 | (f) | (0.68 | ) | 233.9 | |||||
0.05 | 60,317 | 3.19 | 2.75(e) | 3.21 | (f) | (1.37 | ) | 142.5 | |||||
5.64 | 42,783 | 3.29 | 2.75(e) | 3.38 | (f) | (1.11 | ) | 166.4 | |||||
2.07 | 21,035 | 3.36 | 2.75(e) | 3.65 | (f) | (0.82 | ) | 135.6 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Effective June 6, 2017, Dynamic High Yield Explorer Fund changed its name to Dynamic Floating Rate High Income Fund. |
(d) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(e) | Excludes dividends and interest expense on short sales, short sale fees and reverse repurchase agreement expense. See "Operating Policies" in notes to financial statements. |
(f) | Excludes expense reimbursement from Manager. |
(g) | Period from September 10, 2014, date shares first offered, through August 31, 2015. |
(h) | Total return amounts have not been annualized. |
(i) | Computed on an annualized basis. |
20
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,INC.
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
GLOBAL OPPORTUNITIES FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | $ | 11.45 | $ | 0.10 | $ | 1.58 | $ | 1.68 | ($0.12 | ) | $– | ($0.12 | ) | $ | 13.01 | |||||||
2016 | 11.36 | 0.10 | 0.18 | 0.28 | (0.09 | ) | (0.10 | ) | (0.19 | ) | 11.45 | |||||||||||
2015 | 13.20 | 0.10 | (0.67 | ) | (0.57 | ) | (0.06 | ) | (1.21 | ) | (1.27 | ) | 11.36 | |||||||||
2014 | (e) | 11.45 | 0.07 | 1.74 | 1.81 | (0.06 | ) | – | (0.06 | ) | 13.20 | |||||||||||
Class C shares | ||||||||||||||||||||||
2017 | 11.34 | 0.01 | 1.56 | 1.57 | (0.02 | ) | – | (0.02 | ) | 12.89 | ||||||||||||
2016 | 11.25 | 0.02 | 0.18 | 0.20 | (0.01 | ) | (0.10 | ) | (0.11 | ) | 11.34 | |||||||||||
2015 | 13.12 | – | (0.66 | ) | (0.66 | ) | – | (1.21 | ) | (1.21 | ) | 11.25 | ||||||||||
2014 | (e) | 11.45 | (0.01 | ) | 1.74 | 1.73 | (0.06 | ) | – | (0.06 | ) | 13.12 | ||||||||||
INTERNATIONAL SMALL COMPANY FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | 9.80 | 0.06 | 2.24 | 2.30 | (0.01 | ) | – | (0.01 | ) | 12.09 | ||||||||||||
2016 | 9.59 | 0.06 | 0.27 | 0.33 | (0.12 | ) | – | (0.12 | ) | 9.80 | ||||||||||||
2015 | 9.86 | 0.06 | (0.28 | ) | (0.22 | ) | (0.05 | ) | – | (0.05 | ) | 9.59 | ||||||||||
2014 | (c) | 10.00 | (0.01 | ) | (0.13 | ) | (0.14 | ) | – | – | – | 9.86 |
21
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of | Ratio of Net | ||||||||||
Expenses to | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return(b) | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
14.86 | % | $ | 4,555 | 1.50 | % | 1.98 | %(d) | 0.84 | % | 117.1 | % |
2.50 | 4,940 | 1.50 | 1.92 | (d) | 0.90 | 145.3 | |||||
(4.36 | ) | 4,054 | 1.50 | 2.16 | (d) | 0.82 | 138.7 | ||||
15.86 | (f) | 2,540 | 1.50 | (g) | 3.95 (d) | ,(g) | 0.61 | (g) | 128.4 | (g) | |
13.89 | 1,880 | 2.25 | 3.91 | (d) | 0.10 | 117.1 | |||||
1.79 | 1,595 | 2.25 | 3.49 | (d) | 0.16 | 145.3 | |||||
(5.11 | ) | 1,552 | 2.25 | 3.51 | (d) | (0.01 | ) | 138.7 | |||
15.14 | (f) | 2,039 | 2.25 | (g) | 4.62 (d) | ,(g) | (0.09 | ) (g) | 128.4 | (g) | |
23.48 | 2,699 | 1.60 | 2.92 | (d) | 0.54 | 58.8 | |||||
3.47 | 2,026 | 1.60 | 2.48 | (d) | 0.61 | 49.9 | |||||
(2.23 | ) | 5,469 | 1.60 | 2.70 | (d) | 0.63 | 62.8 | ||||
(1.40 | ) (f) | 4,054 | 1.60 | (g) | 6.49 (d) | ,(g) | (0.25 | ) (g) | 49.2 | (g) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Period from June 11, 2014, date shares first offered, through August 31, 2014. |
(d) | Excludes expense reimbursement from Manager. |
(e) | Period from September 30, 2013, date shares first offered, through August 31, 2014. |
(f) | Total return amounts have not been annualized. |
(g) | Computed on an annualized basis. |
22
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,INC.
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||||
MULTI-MANAGER EQUITY LONG/SHORT FUND | |||||||||||||||||||||||
Class A shares | |||||||||||||||||||||||
2017 | $ | 9.97 | ($0.10 | ) | $ | 0.78 | $ | 0.68 | ($0.05 | ) | ($0.03 | ) | ($0.08 | ) | $ | 10.57 | |||||||
2016 | (f) | 10.00 | (0.05 | ) | 0.02 | (0.03 | ) | – | – | – | 9.97 | ||||||||||||
OPPORTUNISTIC MUNICIPAL FUND | |||||||||||||||||||||||
Class A shares | |||||||||||||||||||||||
2017 | 11.03 | 0.40 | (0.40 | ) | – | (0.38 | ) | – | (0.38 | ) | 10.65 | ||||||||||||
2016 | 10.20 | 0.38 | 0.82 | 1.20 | (0.37 | ) | – | (0.37 | ) | 11.03 | |||||||||||||
2015 | 10.09 | 0.42 | 0.10 | 0.52 | (0.41 | ) | – | (0.41 | ) | 10.20 | |||||||||||||
2014 | 9.12 | 0.44 | 0.96 | 1.40 | (0.43 | ) | – | (0.43 | ) | 10.09 | |||||||||||||
2013 | 10.29 | 0.43 | (1.16 | ) | (0.73 | ) | (0.41 | ) | (0.03 | ) | (0.44 | ) | 9.12 | ||||||||||
Class C shares | |||||||||||||||||||||||
2017 | 11.03 | 0.32 | (0.40 | ) | (0.08 | ) | (0.30 | ) | – | (0.30 | ) | 10.65 | |||||||||||
2016 | 10.20 | 0.30 | 0.82 | 1.12 | (0.29 | ) | – | (0.29 | ) | 11.03 | |||||||||||||
2015 | 10.09 | 0.34 | 0.10 | 0.44 | (0.33 | ) | – | (0.33 | ) | 10.20 | |||||||||||||
2014 | 9.12 | 0.37 | 0.96 | 1.33 | (0.36 | ) | – | (0.36 | ) | 10.09 | |||||||||||||
2013 | 10.29 | 0.36 | (1.17 | ) | (0.81 | ) | (0.33 | ) | (0.03 | ) | (0.36 | ) | 9.12 |
23
FINANCIAL
HIGHLIGHTS
(Continued)
PRINCIPAL
FUNDS,INC.
Ratio of Expenses to | ||||||||||||||
Average Net Assets | ||||||||||||||
(Excluding | ||||||||||||||
Ratio of | Dividends and | Ratio of Expenses to | Ratio of Net | |||||||||||
Expenses to | Interest Expense on | Average Net Assets | Ratio of Gross | Investment Income | ||||||||||
Net Assets, End of | Average Net | Short Sales and Short | (Excluding Interest | Expenses to Average | to Average Net | Portfolio | ||||||||
Total Return(b) | Period (in thousands) | Assets | Sale Fees) | Expense and Fees) | Net Assets | Assets | Turnover Rate | |||||||
6.80 | % | $ | 113 | 2.84 | % | 2.02%(c) | N/A | 30.68% | (e) | (0.96 | )% | 301.2 | % | |
(0.30) | (g) | 55 | 2.80 | (h) | 2.02 (c),(h) | N/A | 219.49 (e), | (h) | (1.24) | (h) | 412.4 | (h) | ||
0.13 | 40,758 | 0.95 | N/A | 0.89% (d),(i) | 0.95 | (e) | 3.83 | 67.9 | ||||||
11.94 | 49,208 | 0.95 | N/A | 0.90 (d) | ,(i) | 0.97 | (e) | 3.52 | 53.5 | |||||
5.17 | 22,568 | 0.96 | N/A | 0.90 (d) | ,(i) | 1.10 | (e) | 4.06 | 54.9 | |||||
15.71 | 16,305 | 1.01 | N/A | 0.90 (d) | ,(i) | 1.21 | (e) | 4.57 | 78.4 | |||||
(7.53 | ) | 13,962 | 1.03 | N/A | 0.90 (d) | ,(i) | 1.21 | (e) | 4.21 | 103.4 | ||||
(0.53) | (j) | 14,301 | 1.71 | N/A | 1.65 (d) | ,(i) | 1.81 | (e) | 3.09 | 67.9 | ||||
11.01 | (j) | 16,455 | 1.70 | N/A | 1.65 (d) | ,(i) | 1.82 | (e) | 2.79 | 53.5 | ||||
4.39 | 9,869 | 1.71 | N/A | 1.65 (d) | ,(i) | 1.96 | (e) | 3.32 | 54.9 | |||||
14.86 | 9,101 | 1.76 | N/A | 1.65 (d) | ,(i) | 2.08 | (e) | 3.83 | 78.4 | |||||
(8.22 | ) | 7,835 | 1.78 | N/A | 1.65 (d) | ,(i) | 2.03 | (e) | 3.47 | 103.4 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Excludes dividends and interest expense on short sales and short sale fees. See "Operating Policies" in notes to financial statements. |
(d) | Reflects Manager's contractual expense limit. |
(e) | Excludes expense reimbursement from Manager. |
(f) | Period from March 31, 2016, date shares first offered, through August 31, 2016. |
(g) | Total return amounts have not been annualized. |
(h) | Computed on an annualized basis. |
(i) | Excludes interest expense and fees paid through inverse floater agreements. See "Operating Policies" in notes to financial statements. |
(j) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
24
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,INC.
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
ORIGIN EMERGING MARKETS FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | $ | 9.07 | $ | 0.18 | $ | 2.52 | $ | 2.70 | ($0.03 | ) | $– | ($0.03 | ) | $ | 11.74 | |||||||
2016 | 8.55 | 0.04 | 0.56 | 0.60 | (0.08 | ) | – | (0.08 | ) | 9.07 | ||||||||||||
2015 | (e) | 10.00 | (0.03 | ) | (1.42 | ) | (1.45 | ) | – | – | – | 8.55 | ||||||||||
PREFERRED SECURITIES FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | 10.36 | 0.49 | 0.24 | 0.73 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.53 | |||||||||||
2016 | 10.24 | 0.49 | 0.19 | 0.68 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.36 | |||||||||||
2015 | 10.56 | 0.50 | (0.13 | ) | 0.37 | (0.51 | ) | (0.18 | ) | (0.69 | ) | 10.24 | ||||||||||
2014 | 10.17 | 0.53 | 0.66 | 1.19 | (0.53 | ) | (0.27 | ) | (0.80 | ) | 10.56 | |||||||||||
2013 | 10.36 | 0.54 | (0.12 | ) | 0.42 | (0.55 | ) | (0.06 | ) | (0.61 | ) | 10.17 | ||||||||||
Class C shares | ||||||||||||||||||||||
2017 | 10.35 | 0.42 | 0.23 | 0.65 | (0.39 | ) | (0.09 | ) | (0.48 | ) | 10.52 | |||||||||||
2016 | 10.23 | 0.42 | 0.19 | 0.61 | (0.40 | ) | (0.09 | ) | (0.49 | ) | 10.35 | |||||||||||
2015 | 10.55 | 0.42 | (0.13 | ) | 0.29 | (0.43 | ) | (0.18 | ) | (0.61 | ) | 10.23 | ||||||||||
2014 | 10.16 | 0.45 | 0.66 | 1.11 | (0.45 | ) | (0.27 | ) | (0.72 | ) | 10.55 | |||||||||||
2013 | 10.35 | 0.46 | (0.12 | ) | 0.34 | (0.47 | ) | (0.06 | ) | (0.53 | ) | 10.16 | ||||||||||
Class T shares | ||||||||||||||||||||||
2017 | (i) | 10.36 | 0.11 | 0.10 | 0.21 | (0.11 | ) | – | (0.11 | ) | 10.46 | |||||||||||
REAL ESTATE ALLOCATION FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2017 | 10.35 | 0.27 | (0.13 | ) | 0.14 | (0.27 | ) | (0.05 | ) | (0.32 | ) | 10.17 | ||||||||||
2016 | 9.62 | 0.22 | 0.76 | 0.98 | (0.25 | ) | – | (0.25 | ) | 10.35 | ||||||||||||
2015 | (c) | 10.00 | 0.13 | (0.44 | ) | (0.31 | ) | (0.07 | ) | – | (0.07 | ) | 9.62 |
25
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of | Ratio of Net | ||||||||||
Net Assets, End of | Expenses to | Ratio of Gross | Investment Income | ||||||||
Period (in | Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return(b) | thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
29.91 | % | $ | 3,003 | 1.75 | % | 5.66 | %(d) | 1.83 | % | 66.3 | % |
7.03 | 401 | 1.75 | 9.54 | (d) | 0.47 | 69.0 | |||||
(14.50) (f),(g) | 210 | 1.75 | (h) | 8.96 (d) | ,(h) | (0.50 | ) (h) | 86.6 | (h) | ||
7.31 | 732,471 | 1.06 | – | 4.81 | 16.1 | ||||||
6.89 | 883,381 | 1.07 | – | 4.83 | 13.9 | ||||||
3.67 | 712,591 | 1.07 | – | 4.79 | 16.9 | ||||||
12.35 | 846,597 | 1.05 | – | 5.18 | 20.1 | ||||||
3.96 | 1,108,540 | 1.07 | 1.07 | 5.11 | 31.5 | ||||||
6.53 | 751,561 | 1.81 | – | 4.07 | 16.1 | ||||||
6.11 | 859,055 | 1.81 | – | 4.09 | 13.9 | ||||||
2.90 | 772,501 | 1.82 | – | 4.05 | 16.9 | ||||||
11.52 | 806,937 | 1.81 | – | 4.43 | 20.1 | ||||||
3.21 | 911,340 | 1.81 | 1.81 | 4.37 | 31.5 | ||||||
2.06 | (f) | 10 | 1.07 | (h) | 915.63 (d) | ,(h) | 4.69 | (h) | 16.1 | (h) | |
1.48 | 1,206 | 0.50 | (j) | 5.59 (d) | ,(j) | 2.72 | 44.4 | ||||
10.34 | 730 | 0.50 | (j) | 9.28 (d) | ,(j) | 2.21 | 76.4 | ||||
(3.10 | ) (f) | 310 | 0.50 (h) | ,(j) | 31.38 (d) | ,(h),(j) | 2.01 | (h) | 33.5 | (h) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Period from December 31, 2014, date shares first offered, through August 31, 2015. |
(d) | Excludes expense reimbursement from Manager. |
(e) | Period from January 23, 2015, date shares first offered, through August 31, 2015. |
(f) | Total return amounts have not been annualized. |
(g) | During 2015, the Class experienced a significant withdrawal of monies by an affiliate. As the remaining shareholders held relatively small positions, the total return amounts expressed herein are greater than those that would have been experienced without the withdrawal. |
(h) | Computed on an annualized basis. |
(i) | Period from June 12, 2017, date shares first offered, through August 31, 2017. |
(j) | Does not include expenses of the investment companies in which the Fund invests. |
26
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,INC.
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
REAL ESTATE DEBT INCOME FUND | |||||||||||||||||||||
Class A shares | |||||||||||||||||||||
2017 | $ | 9.97 | $ | 0.31 | ($0.14 | ) | $ | 0.17 | ($0.29 | ) | $– | ($0.29 | ) | $ | 9.85 | ||||||
2016 | 9.75 | 0.33 | 0.17 | 0.50 | (0.28 | ) | – | (0.28 | ) | 9.97 | |||||||||||
2015 | (f) | 10.00 | 0.22 | (0.26 | ) | (0.04 | ) | (0.21 | ) | – | (0.21 | ) | 9.75 | ||||||||
SMALL-MIDCAP DIVIDEND INCOME FUND | |||||||||||||||||||||
Class A shares | |||||||||||||||||||||
2017 | 14.95 | 0.35 | 1.60 | 1.95 | (0.33 | ) | – | (0.33 | ) | 16.57 | |||||||||||
2016 | 12.73 | 0.34 | 2.44 | 2.78 | (0.30 | ) | (0.26 | ) | (0.56 | ) | 14.95 | ||||||||||
2015 | 14.34 | 0.37 | (1.39 | ) | (1.02 | ) | (0.28 | ) | (0.31 | ) | (0.59 | ) | 12.73 | ||||||||
2014 | 12.25 | 0.37 | 2.24 | 2.61 | (0.26 | ) | (0.26 | ) | (0.52 | ) | 14.34 | ||||||||||
2013 | 10.46 | 0.34 | 1.80 | 2.14 | (0.32 | ) | (0.03 | ) | (0.35 | ) | 12.25 | ||||||||||
Class C shares | |||||||||||||||||||||
2017 | 14.84 | 0.23 | 1.60 | 1.83 | (0.24 | ) | – | (0.24 | ) | 16.43 | |||||||||||
2016 | 12.65 | 0.24 | 2.41 | 2.65 | (0.20 | ) | (0.26 | ) | (0.46 | ) | 14.84 | ||||||||||
2015 | 14.26 | 0.26 | (1.37 | ) | (1.11 | ) | (0.19 | ) | (0.31 | ) | (0.50 | ) | 12.65 | ||||||||
2014 | 12.21 | 0.25 | 2.24 | 2.49 | (0.18 | ) | (0.26 | ) | (0.44 | ) | 14.26 | ||||||||||
2013 | 10.48 | 0.23 | 1.81 | 2.04 | (0.28 | ) | (0.03 | ) | (0.31 | ) | 12.21 |
27
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
Ratio of | Ratio of Net | ||||||||||
Expenses to | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return(b) | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
1.75 | % | $ | 1,149 | 1.00 | % | 4.07 | %(d) | 3.22 | % | 13.1 | % |
5.27 | (e) | 831 | 1.00 | 1.04 | (d) | 3.48 | 20.1 | ||||
(0.39 | ) (g) | 22,075 | 1.00 | (c) | 1.14 (d) | ,(c) | 3.29 | (c) | 42.2 | (c) | |
13.17 | 232,872 | 1.17 | – | 2.15 | 25.5 | ||||||
22.61 | 207,431 | 1.17 | – | 2.56 | 25.8 | ||||||
(7.28 | ) | 167,966 | 1.18 | 1.18 | (d) | 2.69 | 29.3 | ||||
21.70 | 175,636 | 1.20 | 1.20 | (d) | 2.70 | 18.2 | |||||
20.85 | 109,770 | 1.26 | 1.26 | (d) | 2.89 | 18.5 | |||||
12.37 | 178,599 | 1.92 | 1.92 | (d) | 1.41 | 25.5 | |||||
21.57 | 165,335 | 1.94 | 1.94 | (d) | 1.79 | 25.8 | |||||
(7.95 | ) | 133,541 | 1.97 | 1.97 | (d) | 1.90 | 29.3 | ||||
20.71 | 100,066 | 2.01 | 2.01 | (d) | 1.86 | 18.2 | |||||
19.75 | 20,427 | 2.15 | 2.27 | (d) | 1.88 | 18.5 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Computed on an annualized basis. |
(d) | Excludes expense reimbursement from Manager. |
(e) | During 2016, the Class experienced a significant withdrawal of monies by an affiliate. As the remaining shareholders held relatively small positions, the total return amounts expressed herein are greater than those that would have been experienced without the withdrawal. |
(f) | Period from December 31, 2014, date shares first offered, through August 31, 2015. |
(g) | Total return amounts have not been annualized. |
28
FINANCIAL HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL FUNDS, INC. | ||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | ||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | Tax Return | Dividends | Net Asset | |||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | of Capital | and | Value End | |||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Distribution | Distributions | of Period | |||||||||||||
CAPITAL SECURITIES FUND | ||||||||||||||||||||
Class S shares | ||||||||||||||||||||
2017 | $ | 9.98 | $ | 0.57 | $ | 0.36 | $ | 0.93 | ($0.51 | ) | $– | ($0.51 | ) | $ | 10.40 | |||||
2016 | 9.87 | 0.57 | 0.07 | 0.64 | (0.53 | ) | – | (0.53 | ) | 9.98 | ||||||||||
2015 | 10.12 | 0.57 | (0.24 | ) | 0.33 | (0.56 | ) | (0.02 | ) | (0.58 | ) | 9.87 | ||||||||
2014 | (c) | 10.00 | 0.25 | 0.06 | 0.31 | (0.19 | ) | – | (0.19 | ) | 10.12 |
29
FINANCIAL
HIGHLIGHTS
(continued)
PRINCIPAL
FUNDS,INC.
Ratio of Net | |||||||||
Net Assets, End of | Ratio of Expenses | Investment Income | Portfolio | ||||||
Total | Period (in | to Average Net | to Average Net | Turnover | |||||
Return | thousands) | Assets | Assets | Rate | |||||
9.62 | % | $ | 457,089 | 0.00 | %(b) | 5.67 | % | 8.4 | % |
6.77 | 298,208 | 0.00 | (b) | 5.89 | 8.8 | ||||
3.34 | 133,380 | 0.00 | (b) | 5.73 | 10.2 | ||||
3.12 | (d) | 67,398 | 0.00 (b) | ,(e) | 5.38 | (e) | 16.9 | (e) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Reflects Manager's contractual expense limit. |
(c) | Period from March 14, 2014, date shares first offered, through August 31, 2014. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
30
FINANCIAL HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL FUNDS, INC. | ||||||||||||||||||||
(unaudited) | ||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | ||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||
BLUE CHIP FUND | ||||||||||||||||||||
Class J shares | ||||||||||||||||||||
2018 | (b) | $ | 20.16 | ($0.02 | ) | $ | 2.56 | $ | 2.54 | $– | ($0.59 | ) | ($0.59 | ) | $ | 22.11 | ||||
Institutional shares | ||||||||||||||||||||
2018 | (f) | 20.10 | – | 2.63 | 2.63 | – | (0.59 | ) | (0.59 | ) | 22.14 | |||||||||
2017 | 17.00 | 0.10 | 3.17 | 3.27 | (0.08 | ) | (0.09 | ) | (0.17 | ) | 20.10 | |||||||||
2016 | 15.63 | 0.05 | 1.70 | 1.75 | (0.07 | ) | (0.31 | ) | (0.38 | ) | 17.00 | |||||||||
2015 | 15.14 | 0.10 | 0.86 | 0.96 | (0.09 | ) | (0.38 | ) | (0.47 | ) | 15.63 | |||||||||
2014 | 12.44 | 0.12 | 2.62 | 2.74 | (0.04 | ) | – | (0.04 | ) | 15.14 | ||||||||||
2013 | 10.64 | 0.18 | 1.69 | 1.87 | (0.06 | ) | (0.01 | ) | (0.07 | ) | 12.44 | |||||||||
R-3 shares | ||||||||||||||||||||
2018 | (f) | 20.00 | (0.05 | ) | 2.61 | 2.56 | – | (0.59 | ) | (0.59 | ) | 21.97 | ||||||||
2017 | 16.96 | 0.21 | 2.95 | 3.16 | (0.03 | ) | (0.09 | ) | (0.12 | ) | 20.00 | |||||||||
2016 | (h) | 15.64 | (0.01 | ) | 1.33 | 1.32 | – | – | – | 16.96 | ||||||||||
R-4 shares | ||||||||||||||||||||
2018 | (f) | 20.05 | (0.03 | ) | 2.62 | 2.59 | – | (0.59 | ) | (0.59 | ) | 22.05 | ||||||||
2017 | 16.98 | 0.09 | 3.11 | 3.20 | (0.04 | ) | (0.09 | ) | (0.13 | ) | 20.05 | |||||||||
2016 | (h) | 15.64 | – | 1.34 | 1.34 | – | – | – | 16.98 | |||||||||||
R-5 shares | ||||||||||||||||||||
2018 | (f) | 20.07 | (0.01 | ) | 2.62 | 2.61 | – | (0.59 | ) | (0.59 | ) | 22.09 | ||||||||
2017 | 16.99 | 0.18 | 3.04 | 3.22 | (0.05 | ) | (0.09 | ) | (0.14 | ) | 20.07 | |||||||||
2016 | (h) | 15.64 | 0.01 | 1.34 | 1.35 | – | – | – | 16.99 | |||||||||||
R-6 shares | ||||||||||||||||||||
2018 | (f) | 20.10 | 0.01 | 2.63 | 2.64 | – | (0.59 | ) | (0.59 | ) | 22.15 | |||||||||
2017 | (i) | 17.03 | 0.23 | 2.84 | 3.07 | – | – | – | 20.10 |
31
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
12.72%(c),(d) | $ | 47,523 | 1.01% | (e) | 1.04%(e),(j) | (0.20)% | (e) | 29.9% | (e) | ||
13.23 | (c) | 102,857 | 0.73 | (e) | 0.73 (e) | ,(g) | 0.02 | (e) | 29.9 | (e) | |
19.42 | 63,268 | 0.69 | 0.69 | (g) | 0.57 | 27.1 | |||||
11.39 | 1,257,265 | 0.69 | 0.69 | (g) | 0.33 | 36.4 | |||||
6.46 | 1,226,210 | 0.71 | 0.71 | (g) | 0.61 | 26.2 | |||||
22.07 | 421,601 | 0.72 | 0.72 | (g) | 0.85 | 34.4 | |||||
17.74 | 179,732 | 0.75 | 0.95 | (g) | 1.46 | 1.3 | |||||
12.92 | (c) | 7,415 | 1.24 | (e) | – | (0.44) | (e) | 29.9 | (e) | ||
18.77 | 337 | 1.25 | – | 1.08 | 27.1 | ||||||
8.44 | (c) | 11 | 1.26 | (e) | – | (0.13) | (e) | 36.4 | (e) | ||
13.04 | (c) | 1,443 | 1.05 | (e) | – | (0.25) | (e) | 29.9 | (e) | ||
19.02 | 27 | 1.06 | – | 0.51 | 27.1 | ||||||
8.57 | (c) | 11 | 1.07 | (e) | – | 0.05 | (e) | 36.4 | (e) | ||
13.12 | (c) | 8,148 | 0.93 | (e) | – | (0.12) | (e) | 29.9 | (e) | ||
19.11 | 83 | 0.94 | – | 0.95 | 27.1 | ||||||
8.63 | (c) | 11 | 0.95 | (e) | – | 0.19 | (e) | 36.4 | (e) | ||
13.28 | (c) | 2,447,355 | 0.67 | (e) | 0.67 (e), | (g) | 0.11 | (e) | 29.9 | (e) | |
18.03 | (c) | 1,582,450 | 0.68 | (e) | 0.69 (e) | ,(g) | 1.74 | (e) | 27.1 | (e) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Period from September 11, 2017, date operations commenced, through February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Total return is calculated without the contingent deferred sales charge. |
(e) | Computed on an annualized basis. |
(f) | Six months ended February 28, 2018. |
(g) | Excludes expense reimbursement from Manager. |
(h) | Period from March 29, 2016, date operations commenced, through August 31, 2016. |
(i) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
(j) | Excludes expense reimbursement from Manager and/or Distributor. |
32
FINANCIAL HIGHLIGHTS | |||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||
(unaudited) | |||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | |||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
BOND MARKET INDEX FUND | |||||||||||||||||||||
Class J shares | |||||||||||||||||||||
2018 | (b) | $ | 11.01 | $ | 0.10 | ($0.37 | ) | ($0.27 | ) | ($0.22 | ) | $– | ($0.22 | ) | $ | 10.52 | |||||
2017 | 11.17 | 0.17 | (0.20 | ) | (0.03 | ) | (0.13 | ) | – | (0.13 | ) | 11.01 | |||||||||
2016 | 10.82 | 0.13 | 0.40 | 0.53 | (0.17 | ) | (0.01 | ) | (0.18 | ) | 11.17 | ||||||||||
2015 | 10.94 | 0.12 | (0.06 | ) | 0.06 | (0.16 | ) | (0.02 | ) | (0.18 | ) | 10.82 | |||||||||
2014 | 10.63 | 0.14 | 0.36 | 0.50 | (0.19 | ) | – | (0.19 | ) | 10.94 | |||||||||||
2013 | 11.17 | 0.11 | (0.47 | ) | (0.36 | ) | (0.17 | ) | (0.01 | ) | (0.18 | ) | 10.63 | ||||||||
Institutional shares | |||||||||||||||||||||
2018 | (b) | 11.21 | 0.12 | (0.37 | ) | (0.25 | ) | (0.26 | ) | – | (0.26 | ) | 10.70 | ||||||||
2017 | 11.39 | 0.21 | (0.20 | ) | 0.01 | (0.19 | ) | – | (0.19 | ) | 11.21 | ||||||||||
2016 | 11.02 | 0.20 | 0.39 | 0.59 | (0.21 | ) | (0.01 | ) | (0.22 | ) | 11.39 | ||||||||||
2015 | 11.01 | 0.17 | 0.08 | 0.25 | (0.22 | ) | (0.02 | ) | (0.24 | ) | 11.02 | ||||||||||
2014 | 10.71 | 0.20 | 0.35 | 0.55 | (0.25 | ) | – | (0.25 | ) | 11.01 | |||||||||||
2013 | 11.27 | 0.17 | (0.48 | ) | (0.31 | ) | (0.24 | ) | (0.01 | ) | (0.25 | ) | 10.71 | ||||||||
R-1 shares | |||||||||||||||||||||
2018 | (b) | 10.97 | 0.07 | (0.37 | ) | (0.30 | ) | (0.16 | ) | – | (0.16 | ) | 10.51 | ||||||||
2017 | 11.16 | 0.12 | (0.20 | ) | (0.08 | ) | (0.11 | ) | – | (0.11 | ) | 10.97 | |||||||||
2016 | 10.80 | 0.10 | 0.39 | 0.49 | (0.12 | ) | (0.01 | ) | (0.13 | ) | 11.16 | ||||||||||
2015 | 10.93 | 0.08 | (0.05 | ) | 0.03 | (0.14 | ) | (0.02 | ) | (0.16 | ) | 10.80 | |||||||||
2014 | 10.60 | 0.11 | 0.35 | 0.46 | (0.13 | ) | – | (0.13 | ) | 10.93 | |||||||||||
2013 | 11.15 | 0.07 | (0.47 | ) | (0.40 | ) | (0.14 | ) | (0.01 | ) | (0.15 | ) | 10.60 | ||||||||
R-2 shares | |||||||||||||||||||||
2018 | (b) | 11.00 | 0.08 | (0.37 | ) | (0.29 | ) | (0.17 | ) | – | (0.17 | ) | 10.54 | ||||||||
2017 | 11.18 | 0.13 | (0.20 | ) | (0.07 | ) | (0.11 | ) | – | (0.11 | ) | 11.00 | |||||||||
2016 | 10.80 | 0.11 | 0.39 | 0.50 | (0.11 | ) | (0.01 | ) | (0.12 | ) | 11.18 | ||||||||||
2015 | 10.92 | 0.09 | (0.06 | ) | 0.03 | (0.13 | ) | (0.02 | ) | (0.15 | ) | 10.80 | |||||||||
2014 | 10.61 | 0.12 | 0.36 | 0.48 | (0.17 | ) | – | (0.17 | ) | 10.92 | |||||||||||
2013 | 11.16 | 0.09 | (0.47 | ) | (0.38 | ) | (0.16 | ) | (0.01 | ) | (0.17 | ) | 10.61 | ||||||||
R-3 shares | |||||||||||||||||||||
2018 | (b) | 10.97 | 0.09 | (0.37 | ) | (0.28 | ) | (0.20 | ) | – | (0.20 | ) | 10.49 | ||||||||
2017 | 11.16 | 0.15 | (0.20 | ) | (0.05 | ) | (0.14 | ) | – | (0.14 | ) | 10.97 | |||||||||
2016 | 10.79 | 0.13 | 0.40 | 0.53 | (0.15 | ) | (0.01 | ) | (0.16 | ) | 11.16 | ||||||||||
2015 | 10.92 | 0.11 | (0.06 | ) | 0.05 | (0.16 | ) | (0.02 | ) | (0.18 | ) | 10.79 | |||||||||
2014 | 10.61 | 0.14 | 0.36 | 0.50 | (0.19 | ) | – | (0.19 | ) | 10.92 | |||||||||||
2013 | 11.19 | 0.11 | (0.49 | ) | (0.38 | ) | (0.19 | ) | (0.01 | ) | (0.20 | ) | 10.61 | ||||||||
R-4 shares | |||||||||||||||||||||
2018 | (b) | 11.00 | 0.10 | (0.37 | ) | (0.27 | ) | (0.22 | ) | – | (0.22 | ) | 10.51 | ||||||||
2017 | 11.18 | 0.17 | (0.20 | ) | (0.03 | ) | (0.15 | ) | – | (0.15 | ) | 11.00 | |||||||||
2016 | 10.84 | 0.15 | 0.39 | 0.54 | (0.19 | ) | (0.01 | ) | (0.20 | ) | 11.18 | ||||||||||
2015 | 10.95 | 0.14 | (0.06 | ) | 0.08 | (0.17 | ) | (0.02 | ) | (0.19 | ) | 10.84 | |||||||||
2014 | 10.65 | 0.16 | 0.35 | 0.51 | (0.21 | ) | – | (0.21 | ) | 10.95 | |||||||||||
2013 | 11.21 | 0.13 | (0.48 | ) | (0.35 | ) | (0.20 | ) | (0.01 | ) | (0.21 | ) | 10.65 | ||||||||
R-5 shares | |||||||||||||||||||||
2018 | (b) | 11.05 | 0.11 | (0.37 | ) | (0.26 | ) | (0.23 | ) | – | (0.23 | ) | 10.56 | ||||||||
2017 | 11.23 | 0.18 | (0.19 | ) | (0.01 | ) | (0.17 | ) | – | (0.17 | ) | 11.05 | |||||||||
2016 | 10.85 | 0.16 | 0.41 | 0.57 | (0.18 | ) | (0.01 | ) | (0.19 | ) | 11.23 | ||||||||||
2015 | 10.97 | 0.15 | (0.07 | ) | 0.08 | (0.18 | ) | (0.02 | ) | (0.20 | ) | 10.85 | |||||||||
2014 | 10.66 | 0.17 | 0.36 | 0.53 | (0.22 | ) | – | (0.22 | ) | 10.97 | |||||||||||
2013 | 11.23 | 0.14 | (0.48 | ) | (0.34 | ) | (0.22 | ) | (0.01 | ) | (0.23 | ) | 10.66 |
33
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
(2.53)%(c),(d) | $ | 28,886 | 0.57 | %(e) | 0.69%(e),(f) | 1.81 | %(e) | 106.4 | %(e) | ||
(0.20 | ) (d) | 30,315 | 0.64 | 0.70 | (f) | 1.53 | 117.8 | ||||
4.98 | (d) | 33,765 | 0.76 | 0.83 | (f) | 1.23 | 151.8 | ||||
0.60 | (d) | 25,430 | 0.71 | 0.78 | (f) | 1.13 | 319.5 | ||||
4.76 | (d) | 25,535 | 0.79 | 0.87 | (f) | 1.34 | 162.0 | ||||
(3.34 | ) (d) | 25,256 | 0.77 | 0.97 | (f) | 1.04 | 131.7 | ||||
(2.29 | ) (c) | 1,605,153 | 0.17 | (e) | 0.26 (e) | ,(g) | 2.22 | (e) | 106.4 | (e) | |
0.19 | 1,795,872 | 0.23 | 0.26 | (g) | 1.94 | 117.8 | |||||
5.52 | 1,648,408 | 0.23 | 0.26 | (g) | 1.75 | 151.8 | |||||
2.26 | (h) | 1,154,916 | 0.23 | 0.26 | (g) | 1.55 | 319.5 | ||||
5.25 | 922,012 | 0.26 | 0.26 | (g) | 1.88 | 162.0 | |||||
(2.88 | ) | 1,462,194 | 0.26 | 0.26 | (g) | 1.54 | 131.7 | ||||
(2.75 | ) (c) | 1,751 | 1.05 | (e) | 1.14 (e) | ,(g) | 1.34 | (e) | 106.4 | (e) | |
(0.70 | ) | 2,158 | 1.11 | 1.14 | (g) | 1.07 | 117.8 | ||||
4.60 | 1,913 | 1.11 | 1.14 | (g) | 0.88 | 151.8 | |||||
0.25 | 1,436 | 1.11 | 1.15 | (g) | 0.73 | 319.5 | |||||
4.38 | 1,290 | 1.14 | 1.14 | (g) | 1.00 | 162.0 | |||||
(3.68 | ) | 1,513 | 1.14 | 1.14 | (g) | 0.68 | 131.7 | ||||
(2.68 | ) (c) | 2,748 | 0.92 | (e) | 1.01 (e) | ,(g) | 1.48 | (e) | 106.4 | (e) | |
(0.59 | ) | 2,936 | 0.98 | 1.01 | (g) | 1.19 | 117.8 | ||||
4.76 | 2,940 | 0.98 | 1.01 | (g) | 1.01 | 151.8 | |||||
0.32 | 3,334 | 0.98 | 1.02 | (g) | 0.85 | 319.5 | |||||
4.55 | 4,006 | 1.01 | 1.01 | (g) | 1.13 | 162.0 | |||||
(3.54 | ) | 3,985 | 1.01 | 1.01 | (g) | 0.81 | 131.7 | ||||
(2.61 | ) (c) | 16,090 | 0.74 | (e) | 0.83 (e) | ,(g) | 1.65 | (e) | 106.4 | (e) | |
(0.42 | ) | 17,123 | 0.80 | 0.83 | (g) | 1.38 | 117.8 | ||||
5.00 | 16,998 | 0.80 | 0.83 | (g) | 1.19 | 151.8 | |||||
0.47 | 14,851 | 0.80 | 0.84 | (g) | 1.04 | 319.5 | |||||
4.81 | 13,786 | 0.83 | 0.83 | (g) | 1.31 | 162.0 | |||||
(3.48 | ) | 11,485 | 0.83 | 0.83 | (g) | 0.98 | 131.7 | ||||
(2.51 | ) (c) | 40,497 | 0.55 | (e) | 0.64 (e) | ,(g) | 1.84 | (e) | 106.4 | (e) | |
(0.18 | ) | 42,411 | 0.61 | 0.64 | (g) | 1.57 | 117.8 | ||||
5.10 | 36,951 | 0.61 | 0.64 | (g) | 1.38 | 151.8 | |||||
0.79 | 24,500 | 0.61 | 0.65 | (g) | 1.25 | 319.5 | |||||
4.87 | 7,649 | 0.64 | 0.64 | (g) | 1.50 | 162.0 | |||||
(3.23 | ) | 7,137 | 0.64 | 0.64 | (g) | 1.17 | 131.7 | ||||
(2.39 | ) (c) | 18,896 | 0.43 | (e) | 0.52 (e) | ,(g) | 1.95 | (e) | 106.4 | (e) | |
(0.06 | ) | 26,153 | 0.49 | 0.52 | (g) | 1.67 | 117.8 | ||||
5.24 | (i) | 31,929 | 0.49 | 0.52 | (g) | 1.50 | 151.8 | ||||
0.87 | (i) | 28,385 | 0.49 | 0.53 | (g) | 1.34 | 319.5 | ||||
5.05 | 56,079 | 0.52 | 0.52 | (g) | 1.62 | 162.0 | |||||
(3.16 | ) | 25,057 | 0.52 | 0.52 | (g) | 1.29 | 131.7 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Six months ended February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Total return is calculated without the contingent deferred sales charge. |
(e) | Computed on an annualized basis. |
(f) | Excludes expense reimbursement from Manager and/or Distributor. |
(g) | Excludes expense reimbursement from Manager. |
(h) | During 2014, the Class experienced a significant withdrawal of monies by an affiliate. As the remaining shareholders held relatively small positions, the total return amounts expressed herein are greater than those that would have been experienced without the withdrawal. |
(i) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
34
FINANCIAL HIGHLIGHTS | |||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||
(unaudited) | |||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | |||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
DIVERSIFIED REAL ASSET FUND | |||||||||||||||||||||
Institutional shares | |||||||||||||||||||||
2018 | (b) | $ | 11.57 | $ | 0.11 | $ | 0.02 | $ | 0.13 | ($0.26 | ) | $– | ($0.26 | ) | $ | 11.44 | |||||
2017 | 11.08 | 0.23 | 0.54 | 0.77 | (0.28 | ) | – | (0.28 | ) | 11.57 | |||||||||||
2016 | 11.25 | 0.22 | (0.29 | ) | (0.07 | ) | (0.10 | ) | – | (0.10 | ) | 11.08 | |||||||||
2015 | 13.21 | 0.19 | (1.89 | ) | (1.70 | ) | (0.13 | ) | (0.13 | ) | (0.26 | ) | 11.25 | ||||||||
2014 | 11.81 | 0.22 | 1.45 | 1.67 | (0.16 | ) | (0.11 | ) | (0.27 | ) | 13.21 | ||||||||||
2013 | 11.99 | 0.20 | 0.07 | 0.27 | (0.15 | ) | (0.30 | ) | (0.45 | ) | 11.81 | ||||||||||
R-3 shares | |||||||||||||||||||||
2018 | (b) | 11.53 | 0.06 | 0.03 | 0.09 | (0.20 | ) | – | (0.20 | ) | 11.42 | ||||||||||
2017 | 11.06 | 0.19 | 0.52 | 0.71 | (0.24 | ) | – | (0.24 | ) | 11.53 | |||||||||||
2016 | (f) | 10.45 | 0.10 | 0.51 | 0.61 | – | – | – | 11.06 | ||||||||||||
R-4 shares | |||||||||||||||||||||
2018 | (b) | 11.54 | 0.09 | 0.03 | 0.12 | (0.22 | ) | – | (0.22 | ) | 11.44 | ||||||||||
2017 | 11.07 | 0.20 | 0.53 | 0.73 | (0.26 | ) | – | (0.26 | ) | 11.54 | |||||||||||
2016 | (f) | 10.45 | 0.10 | 0.52 | 0.62 | – | – | – | 11.07 | ||||||||||||
R-5 shares | |||||||||||||||||||||
2018 | (b) | 11.56 | 0.10 | 0.02 | 0.12 | (0.24 | ) | – | (0.24 | ) | 11.44 | ||||||||||
2017 | 11.08 | 0.21 | 0.54 | 0.75 | (0.27 | ) | – | (0.27 | ) | 11.56 | |||||||||||
2016 | (f) | 10.45 | 0.11 | 0.52 | 0.63 | – | – | – | 11.08 | ||||||||||||
R-6 shares | |||||||||||||||||||||
2018 | (b) | 11.57 | 0.11 | 0.02 | 0.13 | (0.26 | ) | – | (0.26 | ) | 11.44 | ||||||||||
2017 | 11.08 | 0.27 | 0.50 | 0.77 | (0.28 | ) | – | (0.28 | ) | 11.57 | |||||||||||
2016 | 11.25 | 0.26 | (0.32 | ) | (0.06 | ) | (0.11 | ) | – | (0.11 | ) | 11.08 | |||||||||
2015 | (h) | 12.07 | 0.17 | (0.99 | ) | (0.82 | ) | – | – | – | 11.25 | ||||||||||
DYNAMIC FLOATING RATE HIGH INCOME FUND | |||||||||||||||||||||
Institutional shares | |||||||||||||||||||||
2018 | (b) | 9.31 | 0.20 | 0.06 | 0.26 | (0.19 | ) | – | (0.19 | ) | 9.38 | ||||||||||
2017 | 9.17 | 0.44 | 0.13 | 0.57 | (0.43 | ) | – | (0.43 | ) | 9.31 | |||||||||||
2016 | 9.41 | 0.47 | (0.22 | ) | 0.25 | (0.49 | ) | – | (0.49 | ) | 9.17 | ||||||||||
2015 | (i) | 10.00 | 0.43 | (0.60 | ) | (0.17 | ) | (0.42 | ) | – | (0.42 | ) | 9.41 | ||||||||
EDGE MIDCAP FUND | |||||||||||||||||||||
Institutional shares | |||||||||||||||||||||
2018 | (b) | 12.60 | 0.06 | 0.96 | 1.02 | – | (0.14 | ) | (0.14 | ) | 13.48 | ||||||||||
2017 | 12.24 | 0.12 | 0.78 | 0.90 | (0.10 | ) | (0.44 | ) | (0.54 | ) | 12.60 | ||||||||||
2016 | (j) | 10.00 | 0.11 | 2.17 | 2.28 | (0.03 | ) | (0.01 | ) | (0.04 | ) | 12.24 | |||||||||
R-6 shares | |||||||||||||||||||||
2018 | (b) | 12.68 | 0.07 | 0.95 | 1.02 | (0.06 | ) | (0.14 | ) | (0.20 | ) | 13.50 | |||||||||
2017 | (k) | 12.12 | 0.09 | 0.47 | 0.56 | – | – | – | 12.68 |
35
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
1.07% | (c) | $ | 2,534,966 | 0.86% | (d) | 0.95%(d),(e) | 1.89% | (d) | 95.3% | (d) | |
7.16 | 2,591,713 | 0.88 | 0.92 | (e) | 2.08 | 65.1 | |||||
(0.53 | ) | 3,294,419 | 0.87 | 0.87 | (e) | 2.02 | 77.6 | ||||
(12.98 | ) | 3,141,543 | 0.87 | – | 1.53 | 66.4 | |||||
14.35 | 2,485,224 | 0.86 | – | 1.74 | 67.3 | ||||||
2.31 | 1,438,209 | 0.87 | 0.87 | (e) | 1.65 | 78.7 | |||||
0.76 | (c) | 82 | 1.35 | (d) | – | 1.08 | (d) | 95.3 | (d) | ||
6.60 | 17 | 1.38 | – | 1.71 | 65.1 | ||||||
5.84 | (c) | 11 | 1.39 | (d) | – | 2.08 | (d) | 77.6 | (d) | ||
0.85 (c) | ,(g) | 11 | 1.16 | (d) | – | 1.57 | (d) | 95.3 | (d) | ||
6.82 | (g) | 11 | 1.19 | – | 1.76 | 65.1 | |||||
5.93 | (c) | 11 | 1.20 | (d) | – | 2.25 | (d) | 77.6 | (d) | ||
0.98 | (c) | 11 | 1.04 | (d) | – | 1.71 | (d) | 95.3 | (d) | ||
6.93 | 11 | 1.07 | – | 1.90 | 65.1 | ||||||
6.03 | (c) | 11 | 1.08 | (d) | – | 2.39 | (d) | 77.6 | (d) | ||
1.13 | (c) | 1,444,495 | 0.79 | (d) | 0.82 (d) | ,(e) | 1.97 | (d) | 95.3 | (d) | |
7.17 | 1,568,988 | 0.83 | 0.83 | (e) | 2.42 | 65.1 | |||||
(0.50 | ) | 29,601 | 0.88 | 0.98 | (e) | 2.43 | 77.6 | ||||
(6.79 | ) (c) | 810 | 0.88 | (d) | 25.58 (d) | ,(e) | 2.21 | (d) | 66.4 | (d) | |
2.77 | (c) | 7,194 | 0.75 | (d) | 1.37 (d) | ,(e) | 4.20 | (d) | 50.7 | (d) | |
6.25 | 7,063 | 0.75 | 1.40 | (e) | 4.73 | 104.0 | |||||
2.96 | 6,899 | 0.75 | 1.27 | (e) | 5.23 | 112.8 | |||||
(1.72 | ) (c) | 7,070 | 0.75 | (d) | 1.34 (d) | ,(e) | 4.58 | (d) | 94.0 | (d) | |
8.01 (c) | ,(g) | 4,811 | 0.90 | (d) | 1.33 (d) | ,(e) | 0.86 | (d) | 9.0 | (d) | |
7.51 | 1,289 | 0.78 | 0.78 | (e) | 1.00 | 11.9 | |||||
22.89 | (c) | 292,615 | 0.79 | (d) | 0.79 (d) | ,(e) | 1.04 | (d) | 22.4 | (d) | |
8.05 | (c) | 600,153 | 0.76 | (d) | 0.76 (d) | ,(e) | 0.98 | (d) | 9.0 | (d) | |
4.62 | (c) | 286,832 | 0.77 | (d) | 0.81 (d) | ,(e) | 1.06 | (d) | 11.9 | (d) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Six months ended February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Computed on an annualized basis. |
(e) | Excludes expense reimbursement from Manager. |
(f) | Period from March 29, 2016, date operations commenced, through August 31, 2016. |
(g) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(h) | Period from December 31, 2014, date operations commenced, through August 31, 2015. |
(i) | Period from September 10, 2014, date operations commenced, through August 31, 2015. |
(j) | Period from September 28, 2015, date operations commenced, through August 31, 2016. |
(k) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
36
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,
INC.
(unaudited)
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||||
GLOBAL MULTI-STRATEGY FUND | |||||||||||||||||||||||
Institutional shares | |||||||||||||||||||||||
2018 | (b) | $ | 11.39 | $ | 0.07 | $ | 0.07 | $ | 0.14 | ($0.09 | ) | ($0.24 | ) | ($0.33 | ) | $ | 11.20 | ||||||
2017 | 10.86 | 0.11 | 0.44 | 0.55 | (0.02 | ) | – | (0.02 | ) | 11.39 | |||||||||||||
2016 | 10.99 | 0.05 | 0.14 | 0.19 | (0.09 | ) | (0.23 | ) | (0.32 | ) | 10.86 | ||||||||||||
2015 | 11.14 | (0.03 | ) | 0.15 | 0.12 | (0.10 | ) | (0.17 | ) | (0.27 | ) | 10.99 | |||||||||||
2014 | 10.54 | – | 0.71 | 0.71 | (0.03 | ) | (0.08 | ) | (0.11 | ) | 11.14 | ||||||||||||
2013 | 10.35 | 0.04 | 0.29 | 0.33 | – | (0.14 | ) | (0.14 | ) | 10.54 | |||||||||||||
R-6 shares | |||||||||||||||||||||||
2018 | (b) | 11.39 | 0.08 | 0.05 | 0.13 | (0.09 | ) | (0.24 | ) | (0.33 | ) | 11.19 | |||||||||||
2017 | (h) | 11.28 | 0.04 | 0.07 | 0.11 | – | – | – | 11.39 | ||||||||||||||
GLOBAL OPPORTUNITIES FUND | |||||||||||||||||||||||
Institutional shares | |||||||||||||||||||||||
2018 | (b) | 13.13 | 0.05 | 0.94 | 0.99 | (0.38 | ) | (0.93 | ) | (1.31 | ) | 12.81 | |||||||||||
2017 | 11.57 | 0.18 | 1.58 | 1.76 | (0.20 | ) | – | (0.20 | ) | 13.13 | |||||||||||||
2016 | 11.46 | 0.17 | 0.20 | 0.37 | (0.16 | ) | (0.10 | ) | (0.26 | ) | 11.57 | ||||||||||||
2015 | 13.28 | 0.18 | (0.67 | ) | (0.49 | ) | (0.12 | ) | (1.21 | ) | (1.33 | ) | 11.46 | ||||||||||
2014 | 10.91 | 0.14 | 2.30 | 2.44 | (0.07 | ) | – | (0.07 | ) | 13.28 | |||||||||||||
2013 | (i) | 10.00 | 0.10 | 0.81 | 0.91 | – | – | – | 10.91 |
37
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||
(unaudited) | |||||||||||||
Ratio of Expenses to | |||||||||||||
Average Net Assets | |||||||||||||
(Excluding | |||||||||||||
Dividends and | |||||||||||||
Interest Expense on | |||||||||||||
Shorts, Short Sale | Ratio of Net | ||||||||||||
Ratio of Expenses | Fees and Reverse | Ratio of Gross | Investment Income | ||||||||||
Net Assets, End of | to Average Net | Repurchase | Expenses to Average | to Average Net | Portfolio | ||||||||
Total Return | Period (in thousands) | Assets | Agreement Expense) | Net Assets | Assets | Turnover Rate | |||||||
1.20 | %(c) | $ | 1,186,640 | 1.82 | %(d) | 1.63%(d),(e) | 1.86%(d),(f) | 1.25 | %(d) | 378.0 | %(d) | ||
5.04 | 1,156,731 | 2.18 | 1.60 | (e) | 2.21 | (f) | 1.03 | 317.6 | |||||
1.80 | 2,265,206 | 2.08 | 1.61 | (e) | 2.08 | (f) | 0.46 | 233.9 | |||||
1.16 | 2,678,876 | 2.07 | 1.63 | (e) | 2.07 | (f) | (0.23 | ) | 142.5 | ||||
6.84 | 1,524,051 | 2.17 | 1.63 | (e) | 2.17 | (f) | 0.00 | 166.4 | |||||
3.23 | 932,801 | 2.26 | 1.65 | (e) | 2.28 | (f) | 0.34 | 135.6 | |||||
1.07 (c) | ,(g) | 1,396,526 | 1.73 | (d) | 1.54 (d) | ,(e) | 1.78 (d) | ,(f) | 1.34 | (d) | 378.0 | (d) | |
1.06 (c) | ,(g) | 1,532,177 | 2.10 | (d) | 1.54 (d) | ,(e) | 2.15 (d) | ,(f) | 1.51 | (d) | 317.6 | (d) | |
7.78 | (c) | 896,691 | 0.85 | (d) | N/A | 0.86 (d) | ,(f) | 0.78 | (d) | 92.5 | (d) | ||
15.49 | 946,975 | 0.85 | N/A | 0.85 | (f) | 1.52 | 117.1 | ||||||
3.21 | 1,320,900 | 0.85 | N/A | – | 1.53 | 145.3 | |||||||
(3.72 | ) | 1,255,650 | 0.84 | N/A | 0.84 | (f) | 1.43 | 138.7 | |||||
22.41 | 1,403,422 | 0.84 | N/A | 0.84 | (f) | 1.14 | 128.4 | ||||||
9.10 | (c) | 1,104,538 | 0.90 | (d) | N/A | 0.90 (d) | ,(f) | 1.34 | (d) | 190.4 | (d) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Six months ended February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Computed on an annualized basis. |
(e) | Excludes dividends and interest expense on short sales and short sale fees. See "Operating Policies" in notes to financial statements. |
(f) | Excludes expense reimbursement from Manager. |
(g) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(h) | Period from June 12, 2017, date operations commenced, through August 31, 2017. |
(i) | Period from December 28, 2012, date operations commenced, through August 31, 2013. |
38
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,
INC.
(unaudited)
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
INTERNATIONAL EQUITY INDEX FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2018 | (b) | $ | 10.55 | $ | 0.07 | $ | 0.55 | $ | 0.62 | ($0.30 | ) | ($0.08 | ) | ($0.38 | ) | $ | 10.79 | |||||
2017 | 9.24 | 0.27 | 1.29 | 1.56 | (0.25 | ) | – | (0.25 | ) | 10.55 | ||||||||||||
2016 | 9.58 | 0.26 | (0.26 | ) | – | (0.23 | ) | (0.11 | ) | (0.34 | ) | 9.24 | ||||||||||
2015 | 10.70 | 0.25 | (1.09 | ) | (0.84 | ) | (0.26 | ) | (0.02 | ) | (0.28 | ) | 9.58 | |||||||||
2014 | 10.91 | 0.31 | 1.34 | 1.65 | (0.32 | ) | (1.54 | ) | (1.86 | ) | 10.70 | |||||||||||
2013 | 9.51 | 0.28 | 1.43 | 1.71 | (0.31 | ) | – | (0.31 | ) | 10.91 | ||||||||||||
R-1 shares | ||||||||||||||||||||||
2018 | (b) | 10.20 | 0.03 | 0.53 | 0.56 | (0.21 | ) | (0.08 | ) | (0.29 | ) | 10.47 | ||||||||||
2017 | 8.93 | 0.18 | 1.26 | 1.44 | (0.17 | ) | – | (0.17 | ) | 10.20 | ||||||||||||
2016 | 9.28 | 0.17 | (0.25 | ) | (0.08 | ) | (0.16 | ) | (0.11 | ) | (0.27 | ) | 8.93 | |||||||||
2015 | 10.40 | 0.18 | (1.08 | ) | (0.90 | ) | (0.20 | ) | (0.02 | ) | (0.22 | ) | 9.28 | |||||||||
2014 | 10.69 | 0.21 | 1.30 | 1.51 | (0.26 | ) | (1.54 | ) | (1.80 | ) | 10.40 | |||||||||||
2013 | 9.34 | 0.22 | 1.37 | 1.59 | (0.24 | ) | – | (0.24 | ) | 10.69 | ||||||||||||
R-2 shares | ||||||||||||||||||||||
2018 | (b) | 10.49 | 0.04 | 0.54 | 0.58 | (0.22 | ) | (0.08 | ) | (0.30 | ) | 10.77 | ||||||||||
2017 | 9.18 | 0.19 | 1.30 | 1.49 | (0.18 | ) | – | (0.18 | ) | 10.49 | ||||||||||||
2016 | 9.52 | 0.19 | (0.26 | ) | (0.07 | ) | (0.16 | ) | (0.11 | ) | (0.27 | ) | 9.18 | |||||||||
2015 | 10.63 | 0.16 | (1.07 | ) | (0.91 | ) | (0.18 | ) | (0.02 | ) | (0.20 | ) | 9.52 | |||||||||
2014 | 10.89 | 0.25 | 1.31 | 1.56 | (0.28 | ) | (1.54 | ) | (1.82 | ) | 10.63 | |||||||||||
2013 | 9.52 | 0.23 | 1.40 | 1.63 | (0.26 | ) | – | (0.26 | ) | 10.89 | ||||||||||||
R-3 shares | ||||||||||||||||||||||
2018 | (b) | 10.35 | 0.05 | 0.53 | 0.58 | (0.24 | ) | (0.08 | ) | (0.32 | ) | 10.61 | ||||||||||
2017 | 9.07 | 0.20 | 1.28 | 1.48 | (0.20 | ) | – | (0.20 | ) | 10.35 | ||||||||||||
2016 | 9.40 | 0.20 | (0.25 | ) | (0.05 | ) | (0.17 | ) | (0.11 | ) | (0.28 | ) | 9.07 | |||||||||
2015 | 10.51 | 0.20 | (1.08 | ) | (0.88 | ) | (0.21 | ) | (0.02 | ) | (0.23 | ) | 9.40 | |||||||||
2014 | 10.77 | 0.25 | 1.31 | 1.56 | (0.28 | ) | (1.54 | ) | (1.82 | ) | 10.51 | |||||||||||
2013 | 9.41 | 0.25 | 1.38 | 1.63 | (0.27 | ) | – | (0.27 | ) | 10.77 | ||||||||||||
R-4 shares | ||||||||||||||||||||||
2018 | (b) | 10.46 | 0.06 | 0.54 | 0.60 | (0.26 | ) | (0.08 | ) | (0.34 | ) | 10.72 | ||||||||||
2017 | 9.17 | 0.20 | 1.31 | 1.51 | (0.22 | ) | – | (0.22 | ) | 10.46 | ||||||||||||
2016 | 9.50 | 0.21 | (0.24 | ) | (0.03 | ) | (0.19 | ) | (0.11 | ) | (0.30 | ) | 9.17 | |||||||||
2015 | 10.62 | 0.21 | (1.09 | ) | (0.88 | ) | (0.22 | ) | (0.02 | ) | (0.24 | ) | 9.50 | |||||||||
2014 | 10.85 | 0.27 | 1.33 | 1.60 | (0.29 | ) | (1.54 | ) | (1.83 | ) | 10.62 | |||||||||||
2013 | 9.46 | 0.27 | 1.38 | 1.65 | (0.26 | ) | – | (0.26 | ) | 10.85 | ||||||||||||
R-5 shares | ||||||||||||||||||||||
2018 | (b) | 10.49 | 0.06 | 0.54 | 0.60 | (0.27 | ) | (0.08 | ) | (0.35 | ) | 10.74 | ||||||||||
2017 | 9.18 | 0.23 | 1.31 | 1.54 | (0.23 | ) | – | (0.23 | ) | 10.49 | ||||||||||||
2016 | 9.52 | 0.22 | (0.25 | ) | (0.03 | ) | (0.20 | ) | (0.11 | ) | (0.31 | ) | 9.18 | |||||||||
2015 | 10.64 | 0.23 | (1.10 | ) | (0.87 | ) | (0.23 | ) | (0.02 | ) | (0.25 | ) | 9.52 | |||||||||
2014 | 10.86 | 0.28 | 1.34 | 1.62 | (0.30 | ) | (1.54 | ) | (1.84 | ) | 10.64 | |||||||||||
2013 | 9.48 | 0.28 | 1.39 | 1.67 | (0.29 | ) | – | (0.29 | ) | 10.86 | ||||||||||||
R-6 shares | ||||||||||||||||||||||
2018 | (b) | 10.54 | 0.08 | 0.55 | 0.63 | (0.30 | ) | (0.08 | ) | (0.38 | ) | 10.79 | ||||||||||
2017 | (g) | 9.01 | 0.14 | 1.39 | 1.53 | – | – | – | 10.54 |
39
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
5.85% | (c) | $ | 55,808 | 0.37% | (d) | 0.41%(d),(e) | 1.38% | (d) | 24.1% | (d) | |
17.42 | 67,784 | 0.32 | 0.32 | (e) | 2.83 | 24.7 | |||||
(0.02 | ) | 831,719 | 0.34 | 0.34 | (e) | 2.83 | 31.3 | ||||
(7.90 | ) | 736,329 | 0.32 | 0.32 | (e) | 2.51 | 35.6 | ||||
15.97 | 677,283 | 0.33 | 0.33 | (e) | 2.87 | 45.8 | |||||
18.16 | 424,630 | 0.34 | 0.34 | (e) | 2.67 | 46.2 | |||||
5.50 | (c) | 942 | 1.19 | (d) | – | 0.54 | (d) | 24.1 | (d) | ||
16.43 | 1,000 | 1.19 | – | 1.93 | 24.7 | ||||||
(0.90 | ) | 586 | 1.21 | – | 1.93 | 31.3 | |||||
(8.68 | ) | 696 | 1.19 | 1.19 | (e) | 1.84 | 35.6 | ||||
14.89 | 334 | 1.20 | 1.20 | (e) | 1.97 | 45.8 | |||||
17.19 | 123 | 1.24 | 1.24 | (e) | 2.08 | 46.2 | |||||
5.45 (c) | ,(f) | 894 | 1.06 | (d) | – | 0.71 | (d) | 24.1 | (d) | ||
16.66 | (f) | 874 | 1.06 | – | 1.96 | 24.7 | |||||
(0.75 | ) | 903 | 1.08 | – | 2.12 | 31.3 | |||||
(8.58 | ) | 754 | 1.06 | 1.06 | (e) | 1.60 | 35.6 | ||||
15.05 | 1,203 | 1.07 | 1.07 | (e) | 2.27 | 45.8 | |||||
17.30 | 490 | 1.11 | 1.11 | (e) | 2.19 | 46.2 | |||||
5.62 | (c) | 19,689 | 0.88 | (d) | – | 0.85 | (d) | 24.1 | (d) | ||
16.77 | 18,585 | 0.88 | – | 2.14 | 24.7 | ||||||
(0.49 | ) | 15,789 | 0.90 | – | 2.26 | 31.3 | |||||
(8.45 | ) | 15,450 | 0.88 | 0.88 | (e) | 1.99 | 35.6 | ||||
15.28 | 12,323 | 0.89 | 0.89 | (e) | 2.34 | 45.8 | |||||
17.51 | 8,197 | 0.93 | 0.93 | (e) | 2.37 | 46.2 | |||||
5.73 | (c) | 12,618 | 0.69 | (d) | – | 1.06 | (d) | 24.1 | (d) | ||
16.93 | 13,372 | 0.69 | – | 2.14 | 24.7 | ||||||
(0.30 | ) | 11,997 | 0.71 | – | 2.32 | 31.3 | |||||
(8.32 | ) | 11,862 | 0.69 | 0.69 | (e) | 2.11 | 35.6 | ||||
15.57 | 13,822 | 0.70 | 0.70 | (e) | 2.52 | 45.8 | |||||
17.68 | 7,801 | 0.74 | 0.74 | (e) | 2.53 | 46.2 | |||||
5.74 | (c) | 21,097 | 0.57 | (d) | – | 1.19 | (d) | 24.1 | (d) | ||
17.23 | 29,429 | 0.57 | – | 2.35 | 24.7 | ||||||
(0.30 | ) | 29,179 | 0.59 | – | 2.49 | 31.3 | |||||
(8.18 | ) | 33,729 | 0.57 | 0.57 | (e) | 2.23 | 35.6 | ||||
15.71 | 37,859 | 0.58 | 0.58 | (e) | 2.62 | 45.8 | |||||
17.84 | 24,896 | 0.62 | 0.62 | (e) | 2.65 | 46.2 | |||||
5.96 | (c) | 967,912 | 0.27 | (d) | 0.31 (d) | ,(e) | 1.46 | (d) | 24.1 | (d) | |
16.98 | (c) | 924,600 | 0.27 | (d) | 0.32 (d) | ,(e) | 2.02 | (d) | 24.7 | (d) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Six months ended February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Computed on an annualized basis. |
(e) | Excludes expense reimbursement from Manager. |
(f) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(g) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
40
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||||
INTERNATIONAL SMALL COMPANY FUND | |||||||||||||||||||||||
Institutional shares | |||||||||||||||||||||||
2018 | (b) | $ | 12.17 | ($0.01 | ) | $ | 1.09 | $ | 1.08 | ($0.26 | ) | ($0.37 | ) | ($0.63 | ) | $ | 12.62 | ||||||
2017 | 9.87 | 0.18 | 2.15 | 2.33 | (0.03 | ) | – | (0.03 | ) | 12.17 | |||||||||||||
2016 | 9.61 | 0.08 | 0.30 | 0.38 | (0.12 | ) | – | (0.12 | ) | 9.87 | |||||||||||||
2015 | (f) | 9.07 | 0.09 | 0.45 | 0.54 | – | – | – | 9.61 | ||||||||||||||
R-6 shares | |||||||||||||||||||||||
2018 | (b) | 12.21 | – | 1.09 | 1.09 | (0.26 | ) | (0.37 | ) | (0.63 | ) | 12.67 | |||||||||||
2017 | (g) | 9.83 | 0.02 | 2.36 | 2.38 | – | – | – | 12.21 | ||||||||||||||
MULTI-MANAGER EQUITY LONG/SHORT FUND | |||||||||||||||||||||||
Institutional shares | |||||||||||||||||||||||
2018 | (b) | 10.62 | (0.04 | ) | 0.79 | 0.75 | (0.10 | ) | (0.46 | ) | (0.56 | ) | 10.81 | ||||||||||
2017 | 9.99 | (0.04 | ) | 0.75 | 0.71 | (0.05 | ) | (0.03 | ) | (0.08 | ) | 10.62 | |||||||||||
2016 | (i) | 10.00 | (0.04 | ) | 0.03 | (0.01 | ) | – | – | – | 9.99 | ||||||||||||
R-6 shares | |||||||||||||||||||||||
2018 | (b) | 10.63 | (0.04 | ) | 0.79 | 0.75 | (0.10 | ) | (0.46 | ) | (0.56 | ) | 10.82 | ||||||||||
2017 | 9.99 | (0.07 | ) | 0.79 | 0.72 | (0.05 | ) | (0.03 | ) | (0.08 | ) | 10.63 | |||||||||||
2016 | (i) | 10.00 | (0.04 | ) | 0.03 | (0.01 | ) | – | – | – | 9.99 | ||||||||||||
OPPORTUNISTIC MUNICIPAL FUND | |||||||||||||||||||||||
Institutional shares | |||||||||||||||||||||||
2018 | (b) | 10.66 | 0.22 | (0.14 | ) | 0.08 | (0.21 | ) | – | (0.21 | ) | 10.53 | |||||||||||
2017 | 11.03 | 0.43 | (0.39 | ) | 0.04 | (0.41 | ) | – | (0.41 | ) | 10.66 | ||||||||||||
2016 | 10.20 | 0.39 | 0.84 | 1.23 | (0.40 | ) | – | (0.40 | ) | 11.03 | |||||||||||||
2015 | (k) | 10.29 | 0.20 | (0.09 | ) | 0.11 | (0.20 | ) | – | (0.20 | ) | 10.20 | |||||||||||
ORIGIN EMERGING MARKETS FUND | |||||||||||||||||||||||
Institutional shares | |||||||||||||||||||||||
2018 | (b) | 11.61 | (0.02 | ) | 1.39 | 1.37 | (0.11 | ) | – | (0.11 | ) | 12.87 | |||||||||||
2017 | 8.97 | 0.05 | 2.66 | 2.71 | (0.07 | ) | – | (0.07 | ) | 11.61 | |||||||||||||
2016 | 8.42 | 0.07 | 0.56 | 0.63 | (0.08 | ) | – | (0.08 | ) | 8.97 | |||||||||||||
2015 | (l) | 10.00 | 0.18 | (1.76 | ) | (1.58 | ) | – | – | – | 8.42 | ||||||||||||
R-6 shares | |||||||||||||||||||||||
2018 | (b) | 11.61 | (0.01 | ) | 1.38 | 1.37 | (0.11 | ) | – | (0.11 | ) | 12.87 | |||||||||||
2017 | 8.97 | 0.50 | 2.21 | 2.71 | (0.07 | ) | – | (0.07 | ) | 11.61 | |||||||||||||
2016 | 8.42 | 0.07 | 0.56 | 0.63 | (0.08 | ) | – | (0.08 | ) | 8.97 | |||||||||||||
2015 | (l) | 10.00 | (0.02 | ) | (1.56 | ) | (1.58 | ) | – | – | – | 8.42 |
41
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||
(unaudited) | |||||||||||||||
Ratio of Expenses | |||||||||||||||
to Average Net | |||||||||||||||
Assets (Excluding | |||||||||||||||
Ratio of | Dividends and | Ratio of Net | |||||||||||||
Net Assets, End | Expenses to | Interest Expense on | Ratio of Expenses to Average | Ratio of Gross | Investment Income | Portfolio | |||||||||
of Period (in | Average Net | Shorts and Short | Net Assets (Excluding Interest | Expenses to | to Average Net | Turnover | |||||||||
Total Return | thousands) | Assets | Sale Fees Expense) | Expense Fees) | Average Net Assets | Assets | Rate | ||||||||
8.87 | %(c) | $ | 4,261 | 1.20 | %(d) | N/A | N/A | 1.55%(d),(e) | (0.15)% | (d) | 42.6 | %(d) | |||
23.66 | 1,991 | 1.08 | N/A | N/A | 1.08 | (e) | 1.72 | 58.8 | |||||||
3.99 | 168,786 | 1.20 | N/A | N/A | 1.23 | (e) | 0.82 | 49.9 | |||||||
5.95 | (c) | 3,374 | 1.20 | (d) | N/A | N/A | 4.14 (d) | ,(e) | 1.39 | (d) | 62.8 | (d) | |||
8.94 | (c) | 1,001,552 | 1.06 | (d) | N/A | N/A | 1.06 (d) | ,(e) | 0.07 | (d) | 42.6 | (d) | |||
24.21 | (c) | 1,002,985 | 1.06 | (d) | N/A | N/A | 1.09 (d) | ,(e) | 0.24 | (d) | 58.8 | (d) | |||
7.06 | (c) | 103 | 2.20 | (d) | 1.67 (d) | ,(h) | N/A | 30.93 (d) | ,(e) | (0.78 | ) (d) | 270.8 | (d) | ||
7.09 | 80 | 2.49 | 1.67 | (h) | N/A | 31.95 | (e) | (0.42 | ) | 301.2 | |||||
(0.10 | ) (c) | 10 | 2.45 | (d) | 1.67 (d) | ,(h) | N/A | 486.48 (d) | ,(e) | (0.99 | ) (d) | 412.4 | (d) | ||
7.10 | (c) | 359,959 | 2.12 | (d) | 1.59 (d) | ,(h) | N/A | 2.15 (d) | ,(e) | (0.71 | ) (d) | 270.8 | (d) | ||
7.19 | 323,616 | 2.42 | 1.60 | (h) | N/A | 2.45 | (e) | (0.63 | ) | 301.2 | |||||
(0.10 | ) (c) | 325,987 | 2.38 | (d) | 1.60 (d) | ,(h) | N/A | 2.45 (d) | ,(e) | (0.93 | ) (d) | 412.4 | (d) | ||
0.74 | (c) | 67,004 | 0.71 | (d) | N/A | 0.62 (d) | ,(j) | 0.71 (d) | ,(e) | 4.19 | (d) | 74.3 | (d) | ||
0.48 | 61,797 | 0.69 | N/A | 0.63 | (j) | 0.79 | (e) | 4.10 | 67.9 | ||||||
12.23 | 3,606 | 0.70 | N/A | 0.65 | (j) | 2.42 | (e) | 3.57 | 53.5 | ||||||
1.04 | (c) | 10 | 0.71 | (d) | N/A | 0.65 (d) | ,(j) | 452.62 (d) | ,(e) | 4.14 | (d) | 54.9 | (d) | ||
11.89 | (c) | 42,926 | 1.25 | (d) | N/A | N/A | 1.32 (d) | ,(e) | (0.26 | ) (d) | 40.4 | (d) | |||
30.58 | 35,584 | 1.24 | N/A | N/A | 1.24 | (e) | 0.51 | 66.3 | |||||||
7.50 | 778,143 | 1.24 | N/A | N/A | 1.24 | (e) | 0.86 | 69.0 | |||||||
(15.80 | ) (c) | 816,035 | 1.25 | (d) | N/A | N/A | 1.31 (d) | ,(e) | 3.01 | (d) | 86.6 | (d) | |||
11.89 | (c) | 699,255 | 1.21 | (d) | N/A | N/A | 1.23 (d) | ,(e) | (0.22 | ) (d) | 40.4 | (d) | |||
30.54 | 662,808 | 1.21 | N/A | N/A | 1.23 | (e) | 4.54 | 66.3 | |||||||
7.50 | 90 | 1.26 | N/A | N/A | 25.47 | (e) | 0.87 | 69.0 | |||||||
(15.80 | ) (c) | 85 | 1.26 | (d) | N/A | N/A | 8.94 (d) | ,(e) | (0.41 | ) (d) | 86.6 | (d) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Six months ended February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Computed on an annualized basis. |
(e) | Excludes expense reimbursement from Manager. |
(f) | Period from December 31, 2014, date operations commenced, through August 31, 2015. |
(g) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
(h) | Excludes dividends and interest expense on short sales and short sale fees. See "Operating Policies" in notes to financial statements. |
(i) | Period from March 31, 2016, date operations commenced, through August 31, 2016. |
(j) | Excludes interest expense and fees paid through inverse floater agreements. See "Operating Policies" in notes to financial statements. |
(k) | Period from March 10, 2015, date operations commenced, through August 31, 2015. |
(l) | Period from January 23, 2015, date operations commenced, through August 31, 2015. |
42
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,
INC.
(unaudited)
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
PREFERRED SECURITIES FUND | |||||||||||||||||||||
Class J shares | |||||||||||||||||||||
2018 | (b) | $ | 10.26 | $ | 0.25 | ($0.22 | ) | $ | 0.03 | ($0.25 | ) | ($0.02 | ) | ($0.27 | ) | $ | 10.02 | ||||
2017 | 10.11 | 0.49 | 0.22 | 0.71 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.26 | ||||||||||
2016 | 10.01 | 0.48 | 0.18 | 0.66 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.11 | ||||||||||
2015 | 10.34 | 0.48 | (0.12 | ) | 0.36 | (0.51 | ) | (0.18 | ) | (0.69 | ) | 10.01 | |||||||||
2014 | 9.97 | 0.51 | 0.65 | 1.16 | (0.52 | ) | (0.27 | ) | (0.79 | ) | 10.34 | ||||||||||
2013 | 10.17 | 0.51 | (0.12 | ) | 0.39 | (0.53 | ) | (0.06 | ) | (0.59 | ) | 9.97 | |||||||||
Institutional shares | |||||||||||||||||||||
2018 | (b) | 10.46 | 0.26 | (0.22 | ) | 0.04 | (0.26 | ) | (0.02 | ) | (0.28 | ) | 10.22 | ||||||||
2017 | 10.30 | 0.52 | 0.23 | 0.75 | (0.50 | ) | (0.09 | ) | (0.59 | ) | 10.46 | ||||||||||
2016 | 10.18 | 0.52 | 0.19 | 0.71 | (0.50 | ) | (0.09 | ) | (0.59 | ) | 10.30 | ||||||||||
2015 | 10.51 | 0.53 | (0.14 | ) | 0.39 | (0.54 | ) | (0.18 | ) | (0.72 | ) | 10.18 | |||||||||
2014 | 10.12 | 0.56 | 0.66 | 1.22 | (0.56 | ) | (0.27 | ) | (0.83 | ) | 10.51 | ||||||||||
2013 | 10.31 | 0.57 | (0.12 | ) | 0.45 | (0.58 | ) | (0.06 | ) | (0.64 | ) | 10.12 | |||||||||
R-1 shares | |||||||||||||||||||||
2018 | (b) | 10.41 | 0.22 | (0.22 | ) | – | (0.22 | ) | (0.02 | ) | (0.24 | ) | 10.17 | ||||||||
2017 | 10.25 | 0.44 | 0.22 | 0.66 | (0.41 | ) | (0.09 | ) | (0.50 | ) | 10.41 | ||||||||||
2016 | 10.14 | 0.43 | 0.19 | 0.62 | (0.42 | ) | (0.09 | ) | (0.51 | ) | 10.25 | ||||||||||
2015 | 10.46 | 0.44 | (0.12 | ) | 0.32 | (0.46 | ) | (0.18 | ) | (0.64 | ) | 10.14 | |||||||||
2014 | 10.08 | 0.47 | 0.66 | 1.13 | (0.48 | ) | (0.27 | ) | (0.75 | ) | 10.46 | ||||||||||
2013 | 10.28 | 0.48 | (0.13 | ) | 0.35 | (0.49 | ) | (0.06 | ) | (0.55 | ) | 10.08 | |||||||||
R-2 shares | |||||||||||||||||||||
2018 | (b) | 10.35 | 0.22 | (0.22 | ) | – | (0.22 | ) | (0.02 | ) | (0.24 | ) | 10.11 | ||||||||
2017 | 10.20 | 0.45 | 0.22 | 0.67 | (0.43 | ) | (0.09 | ) | (0.52 | ) | 10.35 | ||||||||||
2016 | 10.09 | 0.45 | 0.18 | 0.63 | (0.43 | ) | (0.09 | ) | (0.52 | ) | 10.20 | ||||||||||
2015 | 10.42 | 0.45 | (0.12 | ) | 0.33 | (0.48 | ) | (0.18 | ) | (0.66 | ) | 10.09 | |||||||||
2014 | 10.04 | 0.48 | 0.66 | 1.14 | (0.49 | ) | (0.27 | ) | (0.76 | ) | 10.42 | ||||||||||
2013 | 10.24 | 0.49 | (0.12 | ) | 0.37 | (0.51 | ) | (0.06 | ) | (0.57 | ) | 10.04 | |||||||||
R-3 shares | |||||||||||||||||||||
2018 | (b) | 10.39 | 0.23 | (0.22 | ) | 0.01 | (0.23 | ) | (0.02 | ) | (0.25 | ) | 10.15 | ||||||||
2017 | 10.23 | 0.47 | 0.22 | 0.69 | (0.44 | ) | (0.09 | ) | (0.53 | ) | 10.39 | ||||||||||
2016 | 10.12 | 0.47 | 0.18 | 0.65 | (0.45 | ) | (0.09 | ) | (0.54 | ) | 10.23 | ||||||||||
2015 | 10.45 | 0.47 | (0.13 | ) | 0.34 | (0.49 | ) | (0.18 | ) | (0.67 | ) | 10.12 | |||||||||
2014 | 10.07 | 0.51 | 0.65 | 1.16 | (0.51 | ) | (0.27 | ) | (0.78 | ) | 10.45 | ||||||||||
2013 | 10.26 | 0.51 | (0.11 | ) | 0.40 | (0.53 | ) | (0.06 | ) | (0.59 | ) | 10.07 | |||||||||
R-4 shares | |||||||||||||||||||||
2018 | (b) | 10.37 | 0.24 | (0.22 | ) | 0.02 | (0.24 | ) | (0.02 | ) | (0.26 | ) | 10.13 | ||||||||
2017 | 10.21 | 0.48 | 0.23 | 0.71 | (0.46 | ) | (0.09 | ) | (0.55 | ) | 10.37 | ||||||||||
2016 | 10.10 | 0.49 | 0.18 | 0.67 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.21 | ||||||||||
2015 | 10.44 | 0.50 | (0.15 | ) | 0.35 | (0.51 | ) | (0.18 | ) | (0.69 | ) | 10.10 | |||||||||
2014 | 10.06 | 0.53 | 0.65 | 1.18 | (0.53 | ) | (0.27 | ) | (0.80 | ) | 10.44 | ||||||||||
2013 | 10.25 | 0.53 | (0.11 | ) | 0.42 | (0.55 | ) | (0.06 | ) | (0.61 | ) | 10.06 | |||||||||
R-5 shares | |||||||||||||||||||||
2018 | (b) | 10.42 | 0.25 | (0.22 | ) | 0.03 | (0.25 | ) | (0.02 | ) | (0.27 | ) | 10.18 | ||||||||
2017 | 10.26 | 0.50 | 0.23 | 0.73 | (0.48 | ) | (0.09 | ) | (0.57 | ) | 10.42 | ||||||||||
2016 | 10.15 | 0.50 | 0.18 | 0.68 | (0.48 | ) | (0.09 | ) | (0.57 | ) | 10.26 | ||||||||||
2015 | 10.47 | 0.50 | (0.12 | ) | 0.38 | (0.52 | ) | (0.18 | ) | (0.70 | ) | 10.15 | |||||||||
2014 | 10.09 | 0.53 | 0.66 | 1.19 | (0.54 | ) | (0.27 | ) | (0.81 | ) | 10.47 | ||||||||||
2013 | 10.28 | 0.55 | (0.12 | ) | 0.43 | (0.56 | ) | (0.06 | ) | (0.62 | ) | 10.09 | |||||||||
R-6 shares | |||||||||||||||||||||
2018 | (b) | 10.46 | 0.26 | (0.22 | ) | 0.04 | (0.26 | ) | (0.02 | ) | (0.28 | ) | 10.22 | ||||||||
2017 | (i) | 9.91 | 0.35 | 0.53 | 0.88 | (0.33 | ) | – | (0.33 | ) | 10.46 |
43
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
0.25%(c),(d) | $ | 49,702 | 0.98% | (e) | 1.01%(e),(f) | 4.85% | (e) | 12.5% | (e) | ||
7.37 | (d) | 51,417 | 1.00 | 1.03 | (f) | 4.88 | 16.1 | ||||
6.87 | (d) | 50,135 | 1.06 | 1.10 | (f) | 4.84 | 13.9 | ||||
3.59 | (d) | 43,477 | 1.14 | 1.16 | (f) | 4.72 | 16.9 | ||||
12.24 | (d) | 39,563 | 1.20 | 1.28 | (f) | 5.02 | 20.1 | ||||
3.74 | (d) | 33,590 | 1.27 | 1.47 | (f) | 4.91 | 31.5 | ||||
0.34 | (c) | 3,913,193 | 0.79 | (e) | 0.79 (e), | (g) | 5.05 | (e) | 12.5 | (e) | |
7.58 | 3,817,309 | 0.77 | 0.77 | (g) | 5.11 | 16.1 | |||||
7.26 | 2,444,823 | 0.76 | – | 5.14 | 13.9 | ||||||
3.91 | 1,923,458 | 0.76 | – | 5.12 | 16.9 | ||||||
12.76 | 2,033,946 | 0.75 | – | 5.48 | 20.1 | ||||||
4.32 | 1,884,821 | 0.75 | 0.75 | (g) | 5.42 | 31.5 | |||||
(0.06) | (c) | 1,108 | 1.58 | (e) | – | 4.24 | (e) | 12.5 | (e) | ||
6.75 | 1,315 | 1.58 | – | 4.31 | 16.1 | ||||||
6.32 | 1,572 | 1.58 | – | 4.32 | 13.9 | ||||||
3.16 | 1,332 | 1.58 | – | 4.27 | 16.9 | ||||||
11.78 | 1,751 | 1.59 | – | 4.66 | 20.1 | ||||||
3.38 | 1,761 | 1.58 | – | 4.58 | 31.5 | ||||||
0.01 | (c) | 1,759 | 1.45 | (e) | – | 4.39 | (e) | 12.5 | (e) | ||
6.84 | 1,760 | 1.45 | – | 4.44 | 16.1 | ||||||
6.49 | 1,234 | 1.45 | – | 4.45 | 13.9 | ||||||
3.25 | 1,556 | 1.45 | – | 4.43 | 16.9 | ||||||
11.98 | 845 | 1.46 | – | 4.75 | 20.1 | ||||||
3.51 | 1,009 | 1.45 | – | 4.70 | 31.5 | ||||||
0.10 | (c) | 2,664 | 1.27 | (e) | – | 4.57 | (e) | 12.5 | (e) | ||
7.09 | 2,676 | 1.27 | – | 4.62 | 16.1 | ||||||
6.66 | 3,311 | 1.27 | – | 4.63 | 13.9 | ||||||
3.40 | 3,758 | 1.27 | – | 4.60 | 16.9 | ||||||
12.13 | 4,074 | 1.28 | – | 4.98 | 20.1 | ||||||
3.81 | 4,107 | 1.27 | – | 4.91 | 31.5 | ||||||
0.19 | (c) | 1,343 | 1.08 | (e) | – | 4.77 | (e) | 12.5 | (e) | ||
7.30 | 1,304 | 1.08 | – | 4.78 | 16.1 | ||||||
6.86 | 1,395 | 1.08 | – | 4.89 | 13.9 | ||||||
3.52 | 1,543 | 1.08 | – | 4.87 | 16.9 | ||||||
12.35 | 1,221 | 1.09 | – | 5.22 | 20.1 | ||||||
4.01 | 1,436 | 1.08 | – | 5.11 | 31.5 | ||||||
0.25 | (c) | 3,515 | 0.96 | (e) | – | 4.87 | (e) | 12.5 | (e) | ||
7.40 | 3,506 | 0.96 | – | 4.92 | 16.1 | ||||||
7.07 | (h) | 4,216 | 0.96 | – | 4.93 | 13.9 | |||||
3.72 | (h) | 3,665 | 0.96 | – | 4.90 | 16.9 | |||||
12.45 | 3,350 | 0.97 | – | 5.24 | 20.1 | ||||||
4.12 | 4,963 | 0.96 | – | 5.27 | 31.5 | ||||||
0.38 | (c) | 521,489 | 0.70 | (e) | 0.70 (e) | ,(g) | 5.13 | (e) | 12.5 | (e) | |
8.98 | (c) | 520,462 | 0.71 | (e) | 0.72 (e) | ,(g) | 5.08 | (e) | 16.1 | (e) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Six months ended February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Total return is calculated without the contingent deferred sales charge. |
(e) | Computed on an annualized basis. |
(f) | Excludes expense reimbursement from Manager and/or Distributor. |
(g) | Excludes expense reimbursement from Manager. |
(h) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(i) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
44
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,
INC.
(unaudited)
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
REAL ESTATE ALLOCATION FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2018 | (b) | $ | 10.28 | $ | 0.20 | ($0.34 | ) | ($0.14 | ) | ($0.19 | ) | ($0.01 | ) | ($0.20 | ) | $ | 9.94 | |||||
2017 | 10.42 | 0.31 | (0.13 | ) | 0.18 | (0.27 | ) | (0.05 | ) | (0.32 | ) | 10.28 | ||||||||||
2016 | 9.65 | 0.19 | 0.83 | 1.02 | (0.25 | ) | – | (0.25 | ) | 10.42 | ||||||||||||
2015 | (g) | 10.00 | 0.14 | (0.42 | ) | (0.28 | ) | (0.07 | ) | – | (0.07 | ) | 9.65 | |||||||||
REAL ESTATE DEBT INCOME FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2018 | (b) | 9.74 | 0.16 | (0.36 | ) | (0.20 | ) | (0.17 | ) | – | (0.17 | ) | 9.37 | |||||||||
2017 | 9.87 | 0.35 | (0.17 | ) | 0.18 | (0.31 | ) | – | (0.31 | ) | 9.74 | |||||||||||
2016 | 9.76 | 0.30 | 0.13 | 0.43 | (0.32 | ) | – | (0.32 | ) | 9.87 | ||||||||||||
2015 | (g) | 10.00 | 0.24 | (0.25 | ) | (0.01 | ) | (0.23 | ) | – | (0.23 | ) | 9.76 | |||||||||
R-6 shares | ||||||||||||||||||||||
2018 | (b) | 9.74 | 0.17 | (0.36 | ) | (0.19 | ) | (0.18 | ) | – | (0.18 | ) | 9.37 | |||||||||
2017 | (i) | 9.49 | 0.23 | 0.23 | 0.46 | (0.21 | ) | – | (0.21 | ) | 9.74 | |||||||||||
SMALL-MIDCAP DIVIDEND INCOME FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2018 | (b) | 16.65 | 0.18 | 0.72 | 0.90 | (0.15 | ) | (0.78 | ) | (0.93 | ) | 16.62 | ||||||||||
2017 | 15.01 | 0.41 | 1.61 | 2.02 | (0.38 | ) | – | (0.38 | ) | 16.65 | ||||||||||||
2016 | 12.79 | 0.39 | 2.43 | 2.82 | (0.34 | ) | (0.26 | ) | (0.60 | ) | 15.01 | |||||||||||
2015 | 14.40 | 0.42 | (1.38 | ) | (0.96 | ) | (0.34 | ) | (0.31 | ) | (0.65 | ) | 12.79 | |||||||||
2014 | 12.29 | 0.43 | 2.25 | 2.68 | (0.31 | ) | (0.26 | ) | (0.57 | ) | 14.40 | |||||||||||
2013 | 10.49 | 0.41 | 1.78 | 2.19 | (0.36 | ) | (0.03 | ) | (0.39 | ) | 12.29 | |||||||||||
R-6 shares | ||||||||||||||||||||||
2018 | (b) | 16.66 | 0.18 | 0.73 | 0.91 | (0.16 | ) | (0.78 | ) | (0.94 | ) | 16.63 | ||||||||||
2017 | (i) | 16.17 | 0.33 | 0.22 | 0.55 | (0.06 | ) | – | (0.06 | ) | 16.66 | |||||||||||
SYSTEMATEX INTERNATIONAL FUND | ||||||||||||||||||||||
Institutional shares | ||||||||||||||||||||||
2018 | (b) | 12.03 | 0.06 | 0.64 | 0.70 | (0.28 | ) | (0.22 | ) | (0.50 | ) | 12.23 | ||||||||||
2017 | 10.43 | 0.13 | 1.69 | 1.82 | (0.22 | ) | – | (0.22 | ) | 12.03 | ||||||||||||
2016 | (j) | 10.00 | 0.24 | 0.26 | 0.50 | (0.05 | ) | (0.02 | ) | (0.07 | ) | 10.43 | ||||||||||
R-6 shares | ||||||||||||||||||||||
2018 | (b) | 12.12 | 0.07 | 0.64 | 0.71 | (0.28 | ) | (0.22 | ) | (0.50 | ) | 12.33 | ||||||||||
2017 | 10.44 | 0.26 | 1.64 | 1.90 | (0.22 | ) | – | (0.22 | ) | 12.12 | ||||||||||||
2016 | (j) | 10.00 | 0.31 | 0.20 | 0.51 | (0.05 | ) | (0.02 | ) | (0.07 | ) | 10.44 | ||||||||||
SYSTEMATEX LARGE VALUE FUND | ||||||||||||||||||||||
R-6 shares | ||||||||||||||||||||||
2018 | (b) | 12.37 | 0.12 | 0.99 | 1.11 | (0.24 | ) | (0.08 | ) | (0.32 | ) | 13.16 | ||||||||||
2017 | 11.25 | 0.23 | 1.13 | 1.36 | (0.24 | ) | – | (0.24 | ) | 12.37 | ||||||||||||
2016 | (j) | 10.00 | 0.23 | 1.11 | 1.34 | (0.07 | ) | (0.02 | ) | (0.09 | ) | 11.25 |
45
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of Net | |||||||||||
Ratio of Expenses | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | to Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
(1.45)% | (c) | $ | 471 | 0.15%(d),(e) | 6.05%(d),(e),(f) | 4.01% | (d) | 49.5% | (d) | ||
1.87 | 320 | 0.15 | (e) | 9.24 (e) | ,(f) | 3.09 | 44.4 | ||||
10.73 | 188 | 0.15 | (e) | 22.98 (e) | ,(f) | 1.86 | 76.4 | ||||
(2.80 | ) (c) | 10 | 0.15 (d) | ,(e) | 338.94 (d),(e),(f) | 2.16 | (d) | 33.5 | (d) | ||
(2.02) | (c) | 1,840 | 0.70 | (d) | 1.98 (d) | ,(f) | 3.40 | (d) | 27.0 | (d) | |
1.87 | 2,109 | 0.59 | 0.59 | (f) | 3.65 | 13.1 | |||||
4.69 | (h) | 153,816 | 0.63 | 0.63 | (f) | 3.11 | 20.1 | ||||
(0.22) (c),(h) | 22,371 | 0.70 | (d) | 0.84 (d) | ,(f) | 3.59 | (d) | 42.2 | (d) | ||
(1.97) | (c) | 185,562 | 0.57 | (d) | 0.58 (d) | ,(f) | 3.53 | (d) | 27.0 | (d) | |
4.90 | (c) | 188,307 | 0.57 | (d) | 0.64 (d) | ,(f) | 3.58 | (d) | 13.1 | (d) | |
5.25 | (c) | 2,387,934 | 0.86 | (d) | 0.86 (d) | ,(f) | 2.11 | (d) | 32.6 | (d) | |
13.56 | 2,179,792 | 0.86 | 0.89 | (f) | 2.51 | 25.5 | |||||
22.94 | 1,142,465 | 0.82 | 0.82 | (f) | 2.90 | 25.8 | |||||
(6.89 | ) | 849,929 | 0.86 | 0.88 | (f) | 3.00 | 29.3 | ||||
22.19 | 554,543 | 0.80 | – | 3.14 | 18.2 | ||||||
21.32 | 353,059 | 0.82 | – | 3.54 | 18.5 | ||||||
5.30 | (c) | 94,964 | 0.77 | (d) | 0.77 (d) | ,(f) | 2.14 | (d) | 32.6 | (d) | |
3.43 | (c) | 610,070 | 0.77 | (d) | 0.78 (d) | ,(f) | 2.96 | (d) | 25.5 | (d) | |
5.79 | (c) | 571 | 0.75 | (d) | 3.82 (d) | ,(f) | 0.96 | (d) | 31.0 | (d) | |
17.86 | 554 | 0.75 | 1.87 | (f) | 1.25 | 44.3 | |||||
4.93 | (c) | 4,198 | 0.75 | (d) | 1.61 (d) | ,(f) | 2.59 | (d) | 60.2 | (d) | |
5.84 | (c) | 89,828 | 0.62 | (d) | 0.73 (d) | ,(f) | 1.06 | (d) | 31.0 | (d) | |
18.62 | 76,182 | 0.62 | 0.78 | (f) | 2.39 | 44.3 | |||||
5.03 | (c) | 59,094 | 0.62 | (d) | 1.11 (d) | ,(f) | 3.26 | (d) | 60.2 | (d) | |
8.97 | (c) | 10,060 | 0.42 | (d) | 0.89 (d) | ,(f) | 1.83 | (d) | 40.7 | (d) | |
12.21 | 9,449 | 0.42 | 1.12 | (f) | 1.98 | 46.6 | |||||
13.50 | (c) | 8,516 | 0.42 | (d) | 1.16 (d) | ,(f) | 2.33 | (d) | 60.8 | (d) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Six months ended February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Computed on an annualized basis. |
(e) | Does not include expenses of the investment companies in which the Fund invests. |
(f) | Excludes expense reimbursement from Manager. |
(g) | Period from December 31, 2014, date operations commenced, through August 31, 2015. |
(h) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(i) | Period from January 3, 2017, date operations commenced, through August 31, 2017. |
(j) | Period from September 22, 2015, date operations commenced, through August 31, 2016. |
46
FINANCIAL HIGHLIGHTS | ||||||||||||||||||||||
PRINCIPAL FUNDS, INC. | ||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | ||||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
BLUE CHIP FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2018 | (c) | $ | 19.91 | ($0.03 | ) | $ | 2.61 | $ | 2.58 | $– | ($0.59 | ) | ($0.59 | ) | $ | 21.90 | ||||||
2017 | 16.85 | 0.07 | 3.08 | 3.15 | – | (0.09 | ) | (0.09 | ) | 19.91 | ||||||||||||
2016 | 15.52 | (0.04 | ) | 1.69 | 1.65 | (0.01 | ) | (0.31 | ) | (0.32 | ) | 16.85 | ||||||||||
2015 | 15.07 | (0.01 | ) | 0.86 | 0.85 | (0.02 | ) | (0.38 | ) | (0.40 | ) | 15.52 | ||||||||||
2014 | (g) | 12.93 | 0.03 | 2.14 | 2.17 | (0.03 | ) | – | (0.03 | ) | 15.07 | |||||||||||
Class C shares | ||||||||||||||||||||||
2018 | (c) | 19.37 | (0.11 | ) | 2.53 | 2.42 | – | (0.59 | ) | (0.59 | ) | 21.20 | ||||||||||
2017 | 16.52 | (0.07 | ) | 3.01 | 2.94 | – | (0.09 | ) | (0.09 | ) | 19.37 | |||||||||||
2016 | 15.33 | (0.16 | ) | 1.66 | 1.50 | – | (0.31 | ) | (0.31 | ) | 16.52 | |||||||||||
2015 | 14.97 | (0.12 | ) | 0.86 | 0.74 | – | (0.38 | ) | (0.38 | ) | 15.33 | |||||||||||
2014 | (g) | 12.93 | (0.07 | ) | 2.13 | 2.06 | (0.02 | ) | – | (0.02 | ) | 14.97 | ||||||||||
Class T shares | ||||||||||||||||||||||
2018 | (c) | 20.08 | (0.05 | ) | 2.63 | 2.58 | – | (0.59 | ) | (0.59 | ) | 22.07 | ||||||||||
2017 | (h) | 19.11 | 0.04 | 0.93 | 0.97 | – | – | – | 20.08 | |||||||||||||
DIVERSIFIED REAL ASSET FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2018 | (c) | 11.53 | 0.09 | 0.03 | 0.12 | (0.22 | ) | – | (0.22 | ) | 11.43 | |||||||||||
2017 | 11.07 | 0.17 | 0.55 | 0.72 | (0.26 | ) | – | (0.26 | ) | 11.53 | ||||||||||||
2016 | 11.22 | 0.17 | (0.27 | ) | (0.10 | ) | (0.05 | ) | – | (0.05 | ) | 11.07 | ||||||||||
2015 | 13.18 | 0.13 | (1.88 | ) | (1.75 | ) | (0.08 | ) | (0.13 | ) | (0.21 | ) | 11.22 | |||||||||
2014 | 11.72 | 0.16 | 1.45 | 1.61 | (0.04 | ) | (0.11 | ) | (0.15 | ) | 13.18 | |||||||||||
2013 | 11.91 | 0.15 | 0.07 | 0.22 | (0.11 | ) | (0.30 | ) | (0.41 | ) | 11.72 | |||||||||||
Class C shares | ||||||||||||||||||||||
2018 | (c) | 11.29 | 0.04 | 0.02 | 0.06 | (0.13 | ) | – | (0.13 | ) | 11.22 | |||||||||||
2017 | 10.80 | 0.10 | 0.53 | 0.63 | (0.14 | ) | – | (0.14 | ) | 11.29 | ||||||||||||
2016 | 10.98 | 0.09 | (0.27 | ) | (0.18 | ) | – | – | – | 10.80 | ||||||||||||
2015 | 12.91 | 0.04 | (1.84 | ) | (1.80 | ) | – | (0.13 | ) | (0.13 | ) | 10.98 | ||||||||||
2014 | 11.55 | 0.07 | 1.42 | 1.49 | (0.02 | ) | (0.11 | ) | (0.13 | ) | 12.91 | |||||||||||
2013 | 11.75 | 0.06 | 0.07 | 0.13 | (0.03 | ) | (0.30 | ) | (0.33 | ) | 11.55 |
47
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of | Ratio of Net | ||||||||||
Expenses to | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return(b) | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
13.08 | %(d) | $ | 107,829 | 1.07 | %(e) | 1.07%(e),(f) | (0.29 | )%(e) | 29.9 | %(e) | |
18.81 | 71,738 | 1.15 | 1.15 | (f) | 0.41 | 27.1 | |||||
10.77 | 36,575 | 1.28 | 1.28 | (f) | (0.26 | ) | 36.4 | ||||
5.78 | 20,629 | 1.35 | 1.39 | (f) | (0.04 | ) | 26.2 | ||||
16.83 | (d) | 8,637 | 1.35 | (e) | 1.95 (e) | ,(f) | 0.25 | (e) | 34.4 | (e) | |
12.61 | (d) | 57,540 | 1.85 | (e) | 1.85 (e) | ,(f) | (1.07 | ) (e) | 29.9 | (e) | |
17.91 | 40,344 | 1.94 | 1.94 | (f) | (0.41 | ) | 27.1 | ||||
9.93 | 21,705 | 2.08 | 2.08 | (f) | (1.06 | ) | 36.4 | ||||
5.04 | 11,985 | 2.10 | 2.33 | (f) | (0.77 | ) | 26.2 | ||||
15.99 | (d) | 3,321 | 2.10 | (e) | 4.22 (e) | ,(f) | (0.51 | ) (e) | 34.4 | (e) | |
12.97 | (d) | 17 | 1.22 | (e) | 207.50 (e) | ,(f) | (0.44 | ) (e) | 29.9 | (e) | |
5.08 | (d) | 11 | 1.22 | (e) | 857.12 (e) | ,(f) | 1.00 | (e) | 27.1 | (e) | |
0.89 (d) | ,(i) | 103,868 | 1.23 | (e) | 1.32 (e) | ,(f) | 1.50 | (e) | 95.3 | (e) | |
6.63 | 118,212 | 1.25 | 1.53 | (f) | 1.58 | 65.1 | |||||
(0.85 | ) | 210,864 | 1.25 | 1.28 | (f) | 1.59 | 77.6 | ||||
(13.33 | ) | 109,677 | 1.25 | 1.25 | (f) | 1.06 | 66.4 | ||||
13.91 | 127,019 | 1.25 | 1.27 | (f) | 1.31 | 67.3 | |||||
1.89 | 281,607 | 1.25 | 1.47 | (f) | 1.25 | 78.7 | |||||
0.55 | (d) | 23,663 | 1.98 | (e) | 2.15 (e) | ,(f) | 0.70 | (e) | 95.3 | (e) | |
5.83 | (i) | 24,940 | 2.00 | 2.10 | (f) | 0.88 | 65.1 | ||||
(1.55 | ) (i) | 31,350 | 2.00 | 2.12 | (f) | 0.86 | 77.6 | ||||
(13.98 | ) | 45,514 | 2.00 | 2.04 | (f) | 0.30 | 66.4 | ||||
13.07 | 55,741 | 2.00 | 2.04 | (f) | 0.57 | 67.3 | |||||
1.10 | 49,372 | 2.00 | 2.04 | (f) | 0.51 | 78.7 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Six months ended February 28, 2018. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
(f) | Excludes expense reimbursement from Manager. |
(g) | Period from September 30, 2013, date shares first offered, through August 31, 2014. |
(h) | Period from June 12, 2017, date shares first offered, through August 31, 2017. |
(i) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
48
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,
INC.
(unaudited)
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
DYNAMIC FLOATING RATE HIGH INCOME FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2018 | (c) | $ | 9.25 | $ | 0.18 | $ | 0.06 | $ | 0.24 | ($0.19 | ) | $– | ($0.19 | ) | $ | 9.30 | ||||||
2017 | 9.14 | 0.41 | 0.12 | 0.53 | (0.42 | ) | – | (0.42 | ) | 9.25 | ||||||||||||
2016 | 9.39 | 0.44 | (0.21 | ) | 0.23 | (0.48 | ) | – | (0.48 | ) | 9.14 | |||||||||||
2015 | (h) | 10.00 | 0.40 | (0.61 | ) | (0.21 | ) | (0.40 | ) | – | (0.40 | ) | 9.39 | |||||||||
GLOBAL MULTI-STRATEGY FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2018 | (c) | 11.28 | 0.05 | 0.06 | 0.11 | (0.05 | ) | (0.24 | ) | (0.29 | ) | 11.10 | ||||||||||
2017 | 10.77 | 0.08 | 0.43 | 0.51 | – | – | – | 11.28 | ||||||||||||||
2016 | 10.91 | 0.01 | 0.14 | 0.15 | (0.06 | ) | (0.23 | ) | (0.29 | ) | 10.77 | |||||||||||
2015 | 11.04 | (0.06 | ) | 0.16 | 0.10 | (0.06 | ) | (0.17 | ) | (0.23 | ) | 10.91 | ||||||||||
2014 | 10.47 | (0.04 | ) | 0.70 | 0.66 | (0.01 | ) | (0.08 | ) | (0.09 | ) | 11.04 | ||||||||||
2013 | 10.32 | – | 0.29 | 0.29 | – | (0.14 | ) | (0.14 | ) | 10.47 | ||||||||||||
Class C shares | ||||||||||||||||||||||
2018 | (c) | 10.97 | 0.01 | 0.06 | 0.07 | – | (0.24 | ) | (0.24 | ) | 10.80 | |||||||||||
2017 | 10.56 | (0.01 | ) | 0.42 | 0.41 | – | – | – | 10.97 | |||||||||||||
2016 | 10.73 | (0.07 | ) | 0.13 | 0.06 | – | (0.23 | ) | (0.23 | ) | 10.56 | |||||||||||
2015 | 10.90 | (0.15 | ) | 0.15 | – | – | (0.17 | ) | (0.17 | ) | 10.73 | |||||||||||
2014 | 10.40 | (0.12 | ) | 0.70 | 0.58 | – | (0.08 | ) | (0.08 | ) | 10.90 | |||||||||||
2013 | 10.33 | (0.08 | ) | 0.29 | 0.21 | – | (0.14 | ) | (0.14 | ) | 10.40 |
49
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||
(unaudited) | |||||||||||||
Ratio of Expenses to | |||||||||||||
Average Net Assets | |||||||||||||
(Excluding | |||||||||||||
Dividends and | |||||||||||||
Interest Expense on | |||||||||||||
Ratio of | Short Sales, Short | Ratio of Net | |||||||||||
Expenses to | Sale Fees and | Ratio of Gross | Investment Income | ||||||||||
Net Assets, End of | Average Net | Reverse Repurchase | Expenses to Average | to Average Net | Portfolio | ||||||||
Total Return(b) | Period (in thousands) | Assets | Agreement Expense) | Net Assets | Assets | Turnover Rate | |||||||
2.56 | %(d) | $ | 4,426 | 1.10 | %(e) | N/A | 2.23%(e),(f) | 3.87 | %(e) | 50.7 | %(e) | ||
5.94 | (g) | 2,959 | 1.10 | N/A | 1.79 | (f) | 4.42 | 104.0 | |||||
2.51 | (g) | 7,267 | 1.10 | N/A | 1.67 | (f) | 4.88 | 112.8 | |||||
(2.00) (d),(g) | 7,752 | 1.10 | (e) | N/A | 1.69 (e) | ,(f) | 4.24 | (e) | 94.0 | (e) | |||
0.99 | (d) | 71,092 | 2.17 | (e) | 1.98 (e) | ,(i) | 2.19 (e) | ,(f) | 0.90 | (e) | 378.0 | (e) | |
4.74 | 112,799 | 2.50 | 1.92 | (i) | 2.52 | (f) | 0.72 | 317.6 | |||||
1.41 | 145,370 | 2.41 | 1.94 | (i) | 2.41 | (f) | 0.11 | 233.9 | |||||
0.93 | 183,527 | 2.39 | 1.95 | (i) | 2.39 | (f) | (0.55 | ) | 142.5 | ||||
6.37 | 93,900 | 2.54 | 2.00 | (i) | 2.57 | (f) | (0.36 | ) | 166.4 | ||||
2.85 | 100,180 | 2.61 | 2.00 | (i) | 2.74 | (f) | (0.07 | ) | 135.6 | ||||
0.62 | (d) | 46,493 | 2.93 | (e) | 2.74 (e) | ,(i) | 2.96 (e) | ,(f) | 0.14 | (e) | 378.0 | (e) | |
3.88 | 48,130 | 3.31 | 2.73 | (i) | 3.33 | (f) | (0.08 | ) | 317.6 | ||||
0.61 | 56,557 | 3.22 | 2.75 | (i) | 3.24 | (f) | (0.68 | ) | 233.9 | ||||
0.05 | 60,317 | 3.19 | 2.75 | (i) | 3.21 | (f) | (1.37 | ) | 142.5 | ||||
5.64 | 42,783 | 3.29 | 2.75 | (i) | 3.38 | (f) | (1.11 | ) | 166.4 | ||||
2.07 | 21,035 | 3.36 | 2.75 | (i) | 3.65 | (f) | (0.82 | ) | 135.6 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Six months ended February 28, 2018. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
(f) | Excludes expense reimbursement from Manager. |
(g) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
(h) | Period from September 10, 2014, date shares first offered, through August 31, 2015. |
(i) | Excludes dividends and interest expense on short sales and short sale fees and reverse repurchase agreement expense. See "Operating Policies" in notes to financial statements. |
50
FINANCIAL HIGHLIGHTS | |||||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | |||||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||||
GLOBAL OPPORTUNITIES FUND | |||||||||||||||||||||||
Class A shares | |||||||||||||||||||||||
2018 | (c) | $ | 13.01 | $ | 0.01 | $ | 0.93 | $ | 0.94 | ($0.31 | ) | ($0.93 | ) | ($1.24 | ) | $ | 12.71 | ||||||
2017 | 11.45 | 0.10 | 1.58 | 1.68 | (0.12 | ) | – | (0.12 | ) | 13.01 | |||||||||||||
2016 | 11.36 | 0.10 | 0.18 | 0.28 | (0.09 | ) | (0.10 | ) | (0.19 | ) | 11.45 | ||||||||||||
2015 | 13.20 | 0.10 | (0.67 | ) | (0.57 | ) | (0.06 | ) | (1.21 | ) | (1.27 | ) | 11.36 | ||||||||||
2014 | (g) | 11.45 | 0.07 | 1.74 | 1.81 | (0.06 | ) | – | (0.06 | ) | 13.20 | ||||||||||||
Class C shares | |||||||||||||||||||||||
2018 | (c) | 12.89 | (0.04 | ) | 0.93 | 0.89 | (0.24 | ) | (0.93 | ) | (1.17 | ) | 12.61 | ||||||||||
2017 | 11.34 | 0.01 | 1.56 | 1.57 | (0.02 | ) | – | (0.02 | ) | 12.89 | |||||||||||||
2016 | 11.25 | 0.02 | 0.18 | 0.20 | (0.01 | ) | (0.10 | ) | (0.11 | ) | 11.34 | ||||||||||||
2015 | 13.12 | – | (0.66 | ) | (0.66 | ) | – | (1.21 | ) | (1.21 | ) | 11.25 | |||||||||||
2014 | (g) | 11.45 | (0.01 | ) | 1.74 | 1.73 | (0.06 | ) | – | (0.06 | ) | 13.12 | |||||||||||
INTERNATIONAL SMALL COMPANY FUND | |||||||||||||||||||||||
Class A shares | |||||||||||||||||||||||
2018 | (c) | 12.09 | (0.03 | ) | 1.07 | 1.04 | (0.19 | ) | (0.37 | ) | (0.56 | ) | 12.57 | ||||||||||
2017 | 9.80 | 0.06 | 2.24 | 2.30 | (0.01 | ) | – | (0.01 | ) | 12.09 | |||||||||||||
2016 | 9.59 | 0.06 | 0.27 | 0.33 | (0.12 | ) | – | (0.12 | ) | 9.80 | |||||||||||||
2015 | 9.86 | 0.06 | (0.28 | ) | (0.22 | ) | (0.05 | ) | – | (0.05 | ) | 9.59 | |||||||||||
2014 | (h) | 10.00 | (0.01 | ) | (0.13 | ) | (0.14 | ) | – | – | – | 9.86 |
51
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of | Ratio of Net | ||||||||||
Expenses to | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return(b) | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
7.41 | %(d) | $ | 4,991 | 1.50 | %(e) | 1.88%(e),(f) | 0.14 | %(e) | 92.5 | %(e) | |
14.86 | 4,555 | 1.50 | 1.98 | (f) | 0.84 | 117.1 | |||||
2.50 | 4,940 | 1.50 | 1.92 | (f) | 0.90 | 145.3 | |||||
(4.36 | ) | 4,054 | 1.50 | 2.16 | (f) | 0.82 | 138.7 | ||||
15.86 | (d) | 2,540 | 1.50 | (e) | 3.95 (e) | ,(f) | 0.61 | (e) | 128.4 | (e) | |
7.05 | (d) | 2,215 | 2.25 | (e) | 3.36 (e) | ,(f) | (0.61 | ) (e) | 92.5 | (e) | |
13.89 | 1,880 | 2.25 | 3.91 | (f) | 0.10 | 117.1 | |||||
1.79 | 1,595 | 2.25 | 3.49 | (f) | 0.16 | 145.3 | |||||
(5.11 | ) | 1,552 | 2.25 | 3.51 | (f) | (0.01 | ) | 138.7 | |||
15.14 | (d) | 2,039 | 2.25 | (e) | 4.62 (e) | ,(f) | (0.09 | ) (e) | 128.4 | (e) | |
8.68 | (d) | 4,947 | 1.60 | (e) | 2.21 (e) | ,(f) | (0.56 | ) (e) | 42.6 | (e) | |
23.48 | 2,699 | 1.60 | 2.92 | (f) | 0.54 | 58.8 | |||||
3.47 | 2,026 | 1.60 | 2.48 | (f) | 0.61 | 49.9 | |||||
(2.23 | ) | 5,469 | 1.60 | 2.70 | (f) | 0.63 | 62.8 | ||||
(1.40 | ) (d) | 4,054 | 1.60 | (e) | 6.49 (e) | ,(f) | (0.25 | ) (e) | 49.2 | (e) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Six months ended February 28, 2018. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
(f) | Excludes expense reimbursement from Manager. |
(g) | Period from September 30, 2013, date shares first offered, through August 31, 2014. |
(h) | Period from June 11, 2014, date shares first offered, through August 31, 2014. |
52
FINANCIAL HIGHLIGHTS | |||||||||||||||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||||||||||||||
(unaudited) | |||||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | |||||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||||
MULTI-MANAGER EQUITY LONG/SHORT FUND | |||||||||||||||||||||||
Class A shares | |||||||||||||||||||||||
2018 | (c) | $ | 10.57 | ($0.06 | ) | $ | 0.78 | $ | 0.72 | ($0.06 | ) | ($0.46 | ) | ($0.52 | ) | $ | 10.77 | ||||||
2017 | 9.97 | (0.10 | ) | 0.78 | 0.68 | (0.05 | ) | (0.03 | ) | (0.08 | ) | 10.57 | |||||||||||
2016 | (h) | 10.00 | (0.05 | ) | 0.02 | (0.03 | ) | – | – | – | 9.97 | ||||||||||||
OPPORTUNISTIC MUNICIPAL FUND | |||||||||||||||||||||||
Class A shares | |||||||||||||||||||||||
2018 | (c) | 10.65 | 0.21 | (0.14 | ) | 0.07 | (0.19 | ) | – | (0.19 | ) | 10.53 | |||||||||||
2017 | 11.03 | 0.40 | (0.40 | ) | – | (0.38 | ) | – | (0.38 | ) | 10.65 | ||||||||||||
2016 | 10.20 | 0.38 | 0.82 | 1.20 | (0.37 | ) | – | (0.37 | ) | 11.03 | |||||||||||||
2015 | 10.09 | 0.42 | 0.10 | 0.52 | (0.41 | ) | – | (0.41 | ) | 10.20 | |||||||||||||
2014 | 9.12 | 0.44 | 0.96 | 1.40 | (0.43 | ) | – | (0.43 | ) | 10.09 | |||||||||||||
2013 | 10.29 | 0.43 | (1.16 | ) | (0.73 | ) | (0.41 | ) | (0.03 | ) | (0.44 | ) | 9.12 | ||||||||||
Class C shares | |||||||||||||||||||||||
2018 | (c) | 10.65 | 0.17 | (0.15 | ) | 0.02 | (0.15 | ) | – | (0.15 | ) | 10.52 | |||||||||||
2017 | 11.03 | 0.32 | (0.40 | ) | (0.08 | ) | (0.30 | ) | – | (0.30 | ) | 10.65 | |||||||||||
2016 | 10.20 | 0.30 | 0.82 | 1.12 | (0.29 | ) | – | (0.29 | ) | 11.03 | |||||||||||||
2015 | 10.09 | 0.34 | 0.10 | 0.44 | (0.33 | ) | – | (0.33 | ) | 10.20 | |||||||||||||
2014 | 9.12 | 0.37 | 0.96 | 1.33 | (0.36 | ) | – | (0.36 | ) | 10.09 | |||||||||||||
2013 | 10.29 | 0.36 | (1.17 | ) | (0.81 | ) | (0.33 | ) | (0.03 | ) | (0.36 | ) | 9.12 |
53
FINANCIAL
HIGHLIGHTS
(Continued)
PRINCIPAL
FUNDS,
INC.
(unaudited)
Ratio of Expenses to | ||||||||||||||
Average Net Assets | ||||||||||||||
(Excluding | ||||||||||||||
Ratio of | Dividends and | Ratio of Expenses to | Ratio of Net | |||||||||||
Expenses to | Interest Expense on | Average Net Assets | Ratio of Gross | Investment Income | ||||||||||
Net Assets, End of | Average Net | Short Sales and Short | (Excluding Interest | Expenses to Average | to Average Net | Portfolio | ||||||||
Total Return(b) | Period (in thousands) | Assets | Sale Fees) | Expense and Fees) | Net Assets | Assets | Turnover Rate | |||||||
6.84% | (d) | $ | 415 | 2.55% | (e) | 2.02%(e),(f) | N/A | 11.86%(e),(g) | (1.07)% | (e) | 270.8% | (e) | ||
6.80 | 113 | 2.84 | 2.02 (f) | N/A | 30.68 | (g) | (0.96 | ) | 301.2 | |||||
(0.30) | (d) | 55 | 2.80 | (e) | 2.02 (e),(f) | N/A | 219.49 (e), | (g) | (1.24) | (e) | 412.4 | (e) | ||
0.70 | (d) | 45,009 | 0.97 | (e) | N/A | 0.88 (e) | ,(i) | 0.97 (e), | (g) | 3.94 | (e) | 74.3 | (e) | |
0.13 | 40,758 | 0.95 | N/A | 0.89 | (i) | 0.95 | (g) | 3.83 | 67.9 | |||||
11.94 | 49,208 | 0.95 | N/A | 0.90 | (i) | 0.97 | (g) | 3.52 | 53.5 | |||||
5.17 | 22,568 | 0.96 | N/A | 0.90 | (i) | 1.10 | (g) | 4.06 | 54.9 | |||||
15.71 | 16,305 | 1.01 | N/A | 0.90 | (i) | 1.21 | (g) | 4.57 | 78.4 | |||||
(7.53 | ) | 13,962 | 1.03 | N/A | 0.90 | (i) | 1.21 | (g) | 4.21 | 103.4 | ||||
0.22 | (d) | 7,658 | 1.74 | (e) | N/A | 1.65 (e) | ,(i) | 1.91 (e), | (g) | 3.14 | (e) | 74.3 | (e) | |
(0.53 | ) (j) | 14,301 | 1.71 | N/A | 1.65 | (i) | 1.81 | (g) | 3.09 | 67.9 | ||||
11.01 | (j) | 16,455 | 1.70 | N/A | 1.65 | (i) | 1.82 | (g) | 2.79 | 53.5 | ||||
4.39 | 9,869 | 1.71 | N/A | 1.65 | (i) | 1.96 | (g) | 3.32 | 54.9 | |||||
14.86 | 9,101 | 1.76 | N/A | 1.65 | (i) | 2.08 | (g) | 3.83 | 78.4 | |||||
(8.22 | ) | 7,835 | 1.78 | N/A | 1.65 | (i) | 2.03 | (g) | 3.47 | 103.4 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Six months ended February 28, 2018. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
(f) | Excludes dividends and interest expense on short sales and short sale fees and reverse repurchase agreement expense. See "Operating Policies" in notes to financial statements. |
(g) | Excludes expense reimbursement from Manager. |
(h) | Period from March 31, 2016, date shares first offered, through August 31, 2016. |
(i) | Excludes interest expense and fees paid through inverse floater agreements. See "Operating Policies" in notes to financial statements. |
(j) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
54
FINANCIAL HIGHLIGHTS | ||||||||||||||||||||||
PRINCIPAL FUNDS, INC. | ||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | ||||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Distributions | Total | |||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | |||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | |||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | |||||||||||||||
ORIGIN EMERGING MARKETS FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2018 | (c) | $ | 11.74 | ($0.04 | ) | $ | 1.40 | $ | 1.36 | ($0.06 | ) | $– | ($0.06 | ) | $ | 13.04 | ||||||
2017 | 9.07 | 0.18 | 2.52 | 2.70 | (0.03 | ) | – | (0.03 | ) | 11.74 | ||||||||||||
2016 | 8.55 | 0.04 | 0.56 | 0.60 | (0.08 | ) | – | (0.08 | ) | 9.07 | ||||||||||||
2015 | (g) | 10.00 | (0.03 | ) | (1.42 | ) | (1.45 | ) | – | – | – | 8.55 | ||||||||||
PREFERRED SECURITIES FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2018 | (c) | 10.53 | 0.25 | (0.23 | ) | 0.02 | (0.24 | ) | (0.02 | ) | (0.26 | ) | 10.29 | |||||||||
2017 | 10.36 | 0.49 | 0.24 | 0.73 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.53 | |||||||||||
2016 | 10.24 | 0.49 | 0.19 | 0.68 | (0.47 | ) | (0.09 | ) | (0.56 | ) | 10.36 | |||||||||||
2015 | 10.56 | 0.50 | (0.13 | ) | 0.37 | (0.51 | ) | (0.18 | ) | (0.69 | ) | 10.24 | ||||||||||
2014 | 10.17 | 0.53 | 0.66 | 1.19 | (0.53 | ) | (0.27 | ) | (0.80 | ) | 10.56 | |||||||||||
2013 | 10.36 | 0.54 | (0.12 | ) | 0.42 | (0.55 | ) | (0.06 | ) | (0.61 | ) | 10.17 | ||||||||||
Class C shares | ||||||||||||||||||||||
2018 | (c) | 10.52 | 0.21 | (0.22 | ) | (0.01 | ) | (0.21 | ) | (0.02 | ) | (0.23 | ) | 10.28 | ||||||||
2017 | 10.35 | 0.42 | 0.23 | 0.65 | (0.39 | ) | (0.09 | ) | (0.48 | ) | 10.52 | |||||||||||
2016 | 10.23 | 0.42 | 0.19 | 0.61 | (0.40 | ) | (0.09 | ) | (0.49 | ) | 10.35 | |||||||||||
2015 | 10.55 | 0.42 | (0.13 | ) | 0.29 | (0.43 | ) | (0.18 | ) | (0.61 | ) | 10.23 | ||||||||||
2014 | 10.16 | 0.45 | 0.66 | 1.11 | (0.45 | ) | (0.27 | ) | (0.72 | ) | 10.55 | |||||||||||
2013 | 10.35 | 0.46 | (0.12 | ) | 0.34 | (0.47 | ) | (0.06 | ) | (0.53 | ) | 10.16 | ||||||||||
Class T shares | ||||||||||||||||||||||
2018 | (c) | 10.46 | 0.25 | (0.22 | ) | 0.03 | (0.25 | ) | (0.02 | ) | (0.27 | ) | 10.22 | |||||||||
2017 | (i) | 10.36 | 0.11 | 0.10 | 0.21 | (0.11 | ) | – | (0.11 | ) | 10.46 | |||||||||||
REAL ESTATE ALLOCATION FUND | ||||||||||||||||||||||
Class A shares | ||||||||||||||||||||||
2018 | (c) | 10.17 | 0.18 | (0.33 | ) | (0.15 | ) | (0.19 | ) | (0.01 | ) | (0.20 | ) | 9.82 | ||||||||
2017 | 10.35 | 0.27 | (0.13 | ) | 0.14 | (0.27 | ) | (0.05 | ) | (0.32 | ) | 10.17 | ||||||||||
2016 | 9.62 | 0.22 | 0.76 | 0.98 | (0.25 | ) | – | (0.25 | ) | 10.35 | ||||||||||||
2015 | (k) | 10.00 | 0.13 | (0.44 | ) | (0.31 | ) | (0.07 | ) | – | (0.07 | ) | 9.62 |
55
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of | Ratio of Net | ||||||||||
Net Assets, End of | Expenses to | Ratio of Gross | Investment Income | ||||||||
Period (in | Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return(b) | thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
11.57% | (d) | $ | 4,758 | 1.75% | (e) | 2.28%(e),(f) | (0.69)% | (e) | 40.4% | (e) | |
29.91 | 3,003 | 1.75 | 5.66 | (f) | 1.83 | 66.3 | |||||
7.03 | 401 | 1.75 | 9.54 | (f) | 0.47 | 69.0 | |||||
(14.50) (d),(h) | 210 | 1.75 | (e) | 8.96 (e) | ,(f) | (0.50 | ) (e) | 86.6 | (e) | ||
0.20 | (d) | 698,411 | 1.06 | (e) | – | 4.77 | (e) | 12.5 | (e) | ||
7.31 | 732,471 | 1.06 | – | 4.81 | 16.1 | ||||||
6.89 | 883,381 | 1.07 | – | 4.83 | 13.9 | ||||||
3.67 | 712,591 | 1.07 | – | 4.79 | 16.9 | ||||||
12.35 | 846,597 | 1.05 | – | 5.18 | 20.1 | ||||||
3.96 | 1,108,540 | 1.07 | 1.07 | 5.11 | 31.5 | ||||||
(0.18 | ) (d) | 701,895 | 1.81 | (e) | – | 4.02 | (e) | 12.5 | (e) | ||
6.53 | 751,561 | 1.81 | – | 4.07 | 16.1 | ||||||
6.11 | 859,055 | 1.81 | – | 4.09 | 13.9 | ||||||
2.90 | 772,501 | 1.82 | – | 4.05 | 16.9 | ||||||
11.52 | 806,937 | 1.81 | – | 4.43 | 20.1 | ||||||
3.21 | 911,340 | 1.81 | 1.81 | 4.37 | 31.5 | ||||||
0.22 | (d) | 65 | 1.07 | (e) | 56.64 (e) | ,(f) | 4.80 | (e) | 12.5 | (e) | |
2.06 | (d) | 10 | 1.07 | (e) | 915.63 (e) | ,(f) | 4.69 | (e) | 16.1 | (e) | |
(1.56 | ) (d) | 1,174 | 0.50 (e) | ,(j) | 4.15 (e),(f),(j) | 3.58 | (e) | 49.5 | (e) | ||
1.48 | 1,206 | 0.50 | (j) | 5.59 (f) | ,(j) | 2.72 | 44.4 | ||||
10.34 | 730 | 0.50 | (j) | 9.28 (f) | ,(j) | 2.21 | 76.4 | ||||
(3.10 | ) (d) | 310 | 0.50 (e) | ,(j) | 31.38 (e),(f),(j) | 2.01 | (e) | 33.5 | (e) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Six months ended February 28, 2018. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
(f) | Excludes expense reimbursement from Manager. |
(g) | Period from January 23, 2015, date shares first offered, through August 31, 2015. |
(h) | During 2015, the Class experienced a significant withdrawal of monies by an affiliate. As the remaining shareholders held relatively small positions, the total return amounts expressed herein are greater than those that would have been experienced without the withdrawal. |
(i) | Period from June 12, 2017, date shares first offered, through August 31, 2017. |
(j) | Does not include expenses of the investment companies in which the Fund invests. |
(k) | Period from December 31, 2014, date shares first offered, through August 31, 2015. |
56
FINANCIAL
HIGHLIGHTS
PRINCIPAL
FUNDS,
INC.
(unaudited)
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted):
Net Asset | Net | Net Realized | Dividends | Distributions | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | from | Dividends | Net Asset | ||||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | Realized | and | Value, End | ||||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Gains | Distributions | of Period | ||||||||||||||
REAL ESTATE DEBT INCOME FUND | |||||||||||||||||||||
Class A shares | |||||||||||||||||||||
2018 | (c) | $ | 9.85 | $ | 0.15 | ($0.37 | ) | ($0.22 | ) | ($0.16 | ) | $– | ($0.16 | ) | $ | 9.47 | |||||
2017 | 9.97 | 0.31 | (0.14 | ) | 0.17 | (0.29 | ) | – | (0.29 | ) | 9.85 | ||||||||||
2016 | 9.75 | 0.33 | 0.17 | 0.50 | (0.28 | ) | – | (0.28 | ) | 9.97 | |||||||||||
2015 | (h) | 10.00 | 0.22 | (0.26 | ) | (0.04 | ) | (0.21 | ) | – | (0.21 | ) | 9.75 | ||||||||
SMALL-MIDCAP DIVIDEND INCOME FUND | |||||||||||||||||||||
Class A shares | |||||||||||||||||||||
2018 | (c) | 16.57 | 0.16 | 0.71 | 0.87 | (0.12 | ) | (0.78 | ) | (0.90 | ) | 16.54 | |||||||||
2017 | 14.95 | 0.35 | 1.60 | 1.95 | (0.33 | ) | – | (0.33 | ) | 16.57 | |||||||||||
2016 | 12.73 | 0.34 | 2.44 | 2.78 | (0.30 | ) | (0.26 | ) | (0.56 | ) | 14.95 | ||||||||||
2015 | 14.34 | 0.37 | (1.39 | ) | (1.02 | ) | (0.28 | ) | (0.31 | ) | (0.59 | ) | 12.73 | ||||||||
2014 | 12.25 | 0.37 | 2.24 | 2.61 | (0.26 | ) | (0.26 | ) | (0.52 | ) | 14.34 | ||||||||||
2013 | 10.46 | 0.34 | 1.80 | 2.14 | (0.32 | ) | (0.03 | ) | (0.35 | ) | 12.25 | ||||||||||
Class C shares | |||||||||||||||||||||
2018 | (c) | 16.43 | 0.09 | 0.71 | 0.80 | (0.06 | ) | (0.78 | ) | (0.84 | ) | 16.39 | |||||||||
2017 | 14.84 | 0.23 | 1.60 | 1.83 | (0.24 | ) | – | (0.24 | ) | 16.43 | |||||||||||
2016 | 12.65 | 0.24 | 2.41 | 2.65 | (0.20 | ) | (0.26 | ) | (0.46 | ) | 14.84 | ||||||||||
2015 | 14.26 | 0.26 | (1.37 | ) | (1.11 | ) | (0.19 | ) | (0.31 | ) | (0.50 | ) | 12.65 | ||||||||
2014 | 12.21 | 0.25 | 2.24 | 2.49 | (0.18 | ) | (0.26 | ) | (0.44 | ) | 14.26 | ||||||||||
2013 | 10.48 | 0.23 | 1.81 | 2.04 | (0.28 | ) | (0.03 | ) | (0.31 | ) | 12.21 |
57
FINANCIAL HIGHLIGHTS (Continued) | |||||||||||
PRINCIPAL FUNDS, INC. | |||||||||||
(unaudited) | |||||||||||
Ratio of | Ratio of Net | ||||||||||
Expenses to | Ratio of Gross | Investment Income | |||||||||
Net Assets, End of | Average Net | Expenses to Average | to Average Net | Portfolio | |||||||
Total Return(b) | Period (in thousands) | Assets | Net Assets | Assets | Turnover Rate | ||||||
(2.25 | )%(d) | $ | 1,265 | 1.00 | %(e) | 3.12%(e),(f) | 3.10 | %(e) | 27.0 | %(e) | |
1.75 | 1,149 | 1.00 | 4.07 | (f) | 3.22 | 13.1 | |||||
5.27 | (g) | 831 | 1.00 | 1.04 | (f) | 3.48 | 20.1 | ||||
(0.39 | ) (d) | 22,075 | 1.00 | (e) | 1.14 (e) | ,(f) | 3.29 | (e) | 42.2 | (e) | |
5.04 (d) | ,(i) | 212,391 | 1.14 | (e) | 1.17 (e) | ,(f) | 1.84 | (e) | 32.6 | (e) | |
13.17 | 232,872 | 1.17 | – | 2.15 | 25.5 | ||||||
22.61 | 207,431 | 1.17 | – | 2.56 | 25.8 | ||||||
(7.28 | ) | 167,966 | 1.18 | 1.18 | (f) | 2.69 | 29.3 | ||||
21.70 | 175,636 | 1.20 | 1.20 | (f) | 2.70 | 18.2 | |||||
20.85 | 109,770 | 1.26 | 1.26 | (f) | 2.89 | 18.5 | |||||
4.69 | (d) | 171,984 | 1.89 | (e) | 1.91 (e) | ,(f) | 1.08 | (e) | 32.6 | (e) | |
12.37 | 178,599 | 1.92 | 1.92 | (f) | 1.41 | 25.5 | |||||
21.57 | 165,335 | 1.94 | 1.94 | (f) | 1.79 | 25.8 | |||||
(7.95 | ) | 133,541 | 1.97 | 1.97 | (f) | 1.90 | 29.3 | ||||
20.71 | 100,066 | 2.01 | 2.01 | (f) | 1.86 | 18.2 | |||||
19.75 | 20,427 | 2.15 | 2.27 | (f) | 1.88 | 18.5 |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Total return is calculated without the front-end sales charge or contingent deferred sales charge, if applicable. |
(c) | Six months ended February 28, 2018. |
(d) | Total return amounts have not been annualized. |
(e) | Computed on an annualized basis. |
(f) | Excludes expense reimbursement from Manager. |
(g) | During 2016, the Class experienced a significant withdrawal of monies by an affiliate. As the remaining shareholders held relatively small positions, the total return amounts expressed herein are greater than those that would have been experienced without the withdrawal. |
(h) | Period from December 31, 2014, date shares first offered, through August 31, 2015. |
(i) | Total return is calculated using the traded net asset value which may differ from the reported net asset value. The traded net asset value is the net asset value which a shareholder would have paid or received from a subscription or redemption. |
58
FINANCIAL HIGHLIGHTS | ||||||||||||||||||||
PRINCIPAL FUNDS, INC. | ||||||||||||||||||||
Selected data for a share of Capital Stock outstanding throughout each year ended August 31 (except as noted): | ||||||||||||||||||||
Net Asset | Net | Net Realized | Dividends | Total | ||||||||||||||||
Value, | Investment | and Unrealized | Total From | from Net | Tax Return | Dividends | Net Asset | |||||||||||||
Beginning | Income | Gain (Loss) on | Investment | Investment | of Capital | and | Value End | |||||||||||||
of Period | (Loss)(a) | Investments | Operations | Income | Distribution | Distributions | of Period | |||||||||||||
CAPITAL SECURITIES FUND | ||||||||||||||||||||
Class S shares | ||||||||||||||||||||
2018 | (b) | $ | 10.40 | $ | 0.29 | ($0.18 | ) | $ | 0.11 | ($0.28 | ) | $– | ($0.28 | ) | $ | 10.23 | ||||
2017 | 9.98 | 0.57 | 0.36 | 0.93 | (0.51 | ) | – | (0.51 | ) | 10.40 | ||||||||||
2016 | 9.87 | 0.57 | 0.07 | 0.64 | (0.53 | ) | – | (0.53 | ) | 9.98 | ||||||||||
2015 | 10.12 | 0.57 | (0.24 | ) | 0.33 | (0.56 | ) | (0.02 | ) | (0.58 | ) | 9.87 | ||||||||
2014 | (f) | 10.00 | 0.25 | 0.06 | 0.31 | (0.19 | ) | – | (0.19 | ) | 10.12 |
59
FINANCIAL
HIGHLIGHTS
(continued)
PRINCIPAL
FUNDS,INC.
Ratio of Net | |||||||||
Net Assets, End of | Ratio of Expenses | Investment Income | Portfolio | ||||||
Period (in | to Average Net | to Average Net | Turnover | ||||||
Total Return | thousands) | Assets | Assets | Rate | |||||
1.09 | %(c) | $ | 484,647 | 0.00%(d),(e) | 5.56 | %(d) | 10.8 | %(d) | |
9.62 | 457,089 | 0.00 | (e) | 5.67 | 8.4 | ||||
6.77 | 298,208 | 0.00 | (e) | 5.89 | 8.8 | ||||
3.34 | 133,380 | 0.00 | (e) | 5.73 | 10.2 | ||||
3.12 | (c) | 67,398 | 0.00 (d) | ,(e) | 5.38 | (d) | 16.9 | (d) |
(a) | Calculated based on average shares outstanding during the period. |
(b) | Six months ended February 28, 2018. |
(c) | Total return amounts have not been annualized. |
(d) | Computed on an annualized basis. |
(e) | Reflects Manager's contractual expense limit. |
(f) | Period from March 14, 2014, date shares first offered, through August 31, 2014. |
60