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Investment Type: pifretail

Tax-Exempt Bond Fund (A) (PTEAX)






Class A | Class B | Class C

Quick Facts


PTEAX
01/03/1977
Muni National Long
$216.17

Investment Strategy

   What's this?
The investment seeks to provide a high level of income that is exempt from federal income tax while protecting investors' capital. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in tax-exempt bonds at the time of each purchase. It may invest up to 20% of its assets in below investment grade bonds which are rated at the time of purchase Ba1 or lower by Moody's and BB+ or lower by S&P. The fund maintains an average portfolio duration that is within 50% of the duration of the Barclays Municipal Bond Index.




Morningstar Style Box™

  as of 07/31/2014
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Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 08/31/2014
What's this?

Out of 236 Muni National Long Funds

StarRating

Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.


Total Returns



Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed, may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.

Where gross and net expense ratios differ, Principal Management Corporation has contractually agreed to limit the investment option's expenses. Differences also may be due to Principal Management Corporation's decision to pay (through the same dates) certain expenses that would normally be payable by the fund. Returns displayed are based on net total investment expense.


Month-End | Quarter-End
Average Annual Total Returns as of 08/31/2014
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Inception*
Excluding Sales Charge % 1.47 1.73 9.88 12.90 5.72 5.99 4.21 5.52
Including Sales Charge % -2.40 -2.13 5.76 8.61 4.36 5.17 3.81 5.39
Barclays Municipal Bond Index % 1.21 1.48 7.47 10.14 4.88 5.39 4.77 ---
Muni National Long Category % 1.46 1.50 8.59 11.28 5.38 5.55 4.18 ---
Morningstar Percentile Rankings** --- --- --- 17 42 32 52 ---
# of Funds in Category 254 254 253 251 236 213 174 ---
01/03/1977
**Morningstar percentile rankings are based on total returns and do not reflect the inclusion of sales charges. If sales charges were reflected, rankings could be lower.


Expenses

  as of 08/31/2014
Total Investment Expense - Gross: 0.81%
Total Investment Expense - Net: 0.81%
Maximum Up-front Sales Charge: 3.75%
Contingent Deferred Sales Charge: 1.00%
12b-1 Fee: 0.25%

Statistics

 

30-Day SEC Yield - Subsidized (Net)
as of 08/31/2014:
2.97%
30-Day SEC Yield - Non-Subsidized (Gross)
as of 08/31/2014:
2.97%


Growth of $10,000

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Represents performance for Class A shares adjusted for the maximum sales charge and assumes the reinvestment of distributions.

Performance assumes reinvestment of all dividends and capital gains. Extended performance is calculated based on the historical performance of the investment option's oldest share class, adjusted for the fees and expenses of the share class shown. Periods of less than one year are not annualized.



Inv Manager or Sub-Advisor

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Principal Global Investors



Portfolio Managers

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James Noble
Since 03/01/2013
M.B.A. , Hofstra University






Morningstar
© 2014 Morningstar, Inc. All Rights Reserved. Part of the mutual fund data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

The full name of this investment option is Principal Tax-Exempt Bond Fund (A).

Investors should carefully consider a fund's investment objectives, risks, charges, and expenses prior to investing. A prospectus, or summary prospectus if available, containing this and other information can be obtained by contacting a financial professional, visiting principalfunds.com, or calling 800-222-5852. Read the prospectus carefully before investing.

Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc., member of the Principal Financial Group®. Principal Funds Distributor, Principal Shareholder Services, Principal Management Corporation and its affiliates, and Principal Funds, Inc. are collectively referred to as Principal Funds.

Not FDIC Insured
May Lose Value - Not a Deposit - No Bank Guarantee
Not Insured by any Federal Government Agency

Barclays Municipal Bond Index represents the long-term, investment-grade tax-exempt bond market.

Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. A portion of the Fund's income may be subject to state and/or local taxes, and it may be subject to federal alternative minimum tax (AMT) for certain investors.

Effective September 12, 2011, this portfolio is sub-advised by Principal Global Investors. Prior to September 12, 2011, the portfolio was sub-advised by Invesco.