Pricing & Performance

Class A Class I All share classes

*Morningstar® Ratings as of

Asset Allocation - Target Risk

Fund Name / Symbol

SAM Balanced Portfolio (A) 12, 18, 23, 41, 54, 62, 69, 75

SABPX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
18.41 18.41 17.51 17.51
-0.02 -0.02 NA NA
-0.11 -0.11 NA NA
8.61 8.61 3.42 -2.28

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
35.53 27.45 28.03 20.46
9.39 10.63 7.35 8.56
9.39 10.05 8.16 8.82
7.77 8.04 7.16 7.44
7.49 7.64 7.25 7.39

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.14
1.14
N/A
N/A

Morningstar Rating

Category: Allocation--50% to 70% Equity
3 stars 3 stars
647 funds
3 stars 3 stars
581 funds
3 stars 3 stars
422 funds
3 stars 3 stars
647 funds
Fund Name / Symbol

SAM Conservative Balanced Portfolio (A) 12, 18, 23, 41, 54, 62, 69, 75

SAIPX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
13.71 13.71 13.18 13.18
-0.01 -0.01 NA NA
-0.07 -0.07 NA NA
6.09 6.09 1.91 -3.67

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
25.90 19.99 18.92 13.38
7.53 8.56 5.53 6.52
7.37 7.85 6.16 6.64
6.24 6.42 5.64 5.82
5.68 5.79 5.44 5.55

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.13
1.13
N/A
N/A

Morningstar Rating

Category: Allocation--30% to 50% Equity
3 stars 3 stars
514 funds
3 stars 3 stars
455 funds
4 stars 4 stars
279 funds
4 stars 4 stars
514 funds
Fund Name / Symbol

SAM Conservative Growth Portfolio (A) 12, 18, 23, 41, 54, 62, 69, 75

SAGPX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
21.32 21.32 20.10 20.10
-0.04 -0.04 NA NA
-0.19 -0.19 NA NA
10.98 10.98 4.79 -0.98

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
45.86 35.38 37.84 27.97
10.95 12.46 8.88 10.35
11.41 12.23 10.16 10.97
9.11 9.48 8.49 8.87
7.98 8.16 7.73 7.91

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.15
1.15
N/A
N/A

Morningstar Rating

Category: Allocation--70% to 85% Equity
4 stars 4 stars
303 funds
4 stars 4 stars
275 funds
4 stars 4 stars
188 funds
4 stars 4 stars
303 funds
Fund Name / Symbol

SAM Flexible Income Portfolio (A) 12, 13, 18, 23, 41, 54, 62, 69, 75

SAUPX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
13.38 13.38 12.98 12.98
-0.02 -0.02 NA NA
-0.15 -0.15 NA NA
4.00 4.00 0.66 -3.10

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
17.76 13.74 13.36 9.47
6.15 6.99 4.80 5.64
5.87 6.19 5.06 5.38
5.23 5.32 4.83 4.91
5.92 6.01 5.76 5.84

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.09
1.09
N/A
N/A

Morningstar Rating

Category: Allocation--15% to 30% Equity
4 stars 4 stars
162 funds
4 stars 4 stars
144 funds
4 stars 4 stars
89 funds
4 stars 4 stars
162 funds
Fund Name / Symbol

SAM Strategic Growth Portfolio (A) 12, 13, 18, 23, 41, 54, 62, 69, 75

SACAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
23.45 23.45 21.94 21.94
-0.03 -0.03 NA NA
-0.13 -0.13 NA NA
12.58 12.58 5.57 -0.23

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
56.08 42.53 47.53 34.70
12.23 13.98 10.13 11.84
12.58 13.57 11.31 12.29
9.97 10.41 9.35 9.79
8.47 8.67 8.22 8.43

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.22
1.22
N/A
N/A

Morningstar Rating

Category: Allocation--85%+ Equity
4 stars 4 stars
154 funds
3 stars 3 stars
134 funds
4 stars 4 stars
95 funds
4 stars 4 stars
154 funds

Asset Allocation - Target Date

Fund Name / Symbol

Principal LifeTime 2010 Fund (A) 11, 12, 18, 23, 41, 52, 60, 71, 73, 78

PENAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
13.81 13.81 13.40 13.40
0.00 0.00 NA NA
0.00 0.00 NA NA
3.37 3.37 0.37 -3.39

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
20.18 14.27 15.70 9.99
6.91 7.64 5.54 6.28
6.81 7.11 6.00 6.30
5.67 5.73 5.27 5.33
4.87 4.96 4.67 4.77

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.84
0.88
N/A

Morningstar Rating

Category: Target-Date 2000-2010
2 stars 2 stars
95 funds
2 stars 2 stars
76 funds
2 stars 2 stars
51 funds
2 stars 2 stars
95 funds
Fund Name / Symbol

Principal LifeTime 2020 Fund (A) 11, 12, 18, 23, 41, 52, 60, 71, 73, 78

PTBAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
15.42 15.42 14.84 14.84
-0.01 -0.01 NA NA
-0.06 -0.06 NA NA
5.62 5.62 1.71 -3.88

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
29.32 21.23 22.16 14.55
8.52 9.46 6.48 7.43
8.71 9.13 7.48 7.90
7.03 7.17 6.43 6.57
5.71 5.84 5.41 5.55

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.86
0.86
N/A

Morningstar Rating

Category: Target-Date 2020
3 stars 3 stars
152 funds
3 stars 3 stars
113 funds
2 stars 2 stars
65 funds
3 stars 3 stars
152 funds
Fund Name / Symbol

Principal LifeTime 2030 Fund (A) 11, 12, 18, 23, 41, 52, 60, 71, 73, 78

PTCAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
16.94 16.94 16.15 16.15
-0.02 -0.02 NA NA
-0.12 -0.12 NA NA
8.04 8.04 3.06 -2.59

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
39.81 29.14 32.15 22.02
10.11 11.34 8.07 9.27
10.47 11.10 9.22 9.85
8.12 8.37 7.51 7.76
6.14 6.32 5.84 6.03

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.94
0.94
N/A

Morningstar Rating

Category: Target-Date 2030
3 stars 3 stars
192 funds
3 stars 3 stars
153 funds
3 stars 3 stars
82 funds
3 stars 3 stars
192 funds
Fund Name / Symbol

Principal LifeTime 2040 Fund (A) 11, 12, 18, 23, 41, 52, 60, 71, 73, 78

PTDAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
18.13 18.13 17.17 17.17
-0.02 -0.02 NA NA
-0.11 -0.11 NA NA
9.95 9.95 4.24 -1.49

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
48.55 35.29 40.41 27.87
11.40 12.73 9.33 10.62
11.80 12.56 10.55 11.29
8.96 9.28 8.35 8.67
6.53 6.74 6.23 6.44

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.99
1.01
N/A

Morningstar Rating

Category: Target-Date 2040
3 stars 3 stars
192 funds
3 stars 3 stars
153 funds
3 stars 3 stars
82 funds
3 stars 3 stars
192 funds
Fund Name / Symbol

Principal LifeTime 2050 Fund (A) 11, 12, 18, 23, 41, 52, 60, 71, 73, 78

PPEAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
19.26 19.26 18.17 18.17
-0.03 -0.03 NA NA
-0.16 -0.16 NA NA
11.14 11.14 5.02 -0.76

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
54.10 39.30 45.64 31.65
12.00 13.42 9.92 11.29
12.52 13.34 11.25 12.07
9.41 9.77 8.79 9.16
6.49 6.72 6.19 6.42

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.02
1.10
N/A

Morningstar Rating

Category: Target-Date 2050
3 stars 3 stars
192 funds
3 stars 3 stars
153 funds
3 stars 3 stars
75 funds
3 stars 3 stars
192 funds
Fund Name / Symbol

Principal LifeTime Strategic Income Fund (A) 11, 12, 18, 23, 41, 52, 60, 71, 73, 78

PALTX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
13.06 13.06 12.72 12.72
0.01 0.01 NA NA
0.08 0.08 NA NA
2.43 2.43 -0.24 -4.00

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
16.31 11.38 11.96 7.21
6.27 6.96 4.93 5.61
5.73 6.01 4.93 5.20
4.77 4.81 4.36 4.41
4.23 4.31 4.03 4.11

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.82
0.97
N/A

Morningstar Rating

Category: Target-Date Retirement
3 stars 3 stars
139 funds
2 stars 2 stars
116 funds
3 stars 3 stars
75 funds
3 stars 3 stars
139 funds

Large U.S. Equity

Fund Name / Symbol

Blue Chip Fund (A) 11

PBLAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
39.12 39.12 34.52 34.52
0.48 0.48 NA NA
1.24 1.24 NA NA
14.42 14.42 1.75 -3.84

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
58.01 38.98 49.30 31.36
23.46 24.92 21.15 22.58
21.93 23.20 20.55 21.82
- - - -
18.37 19.07 17.61 18.32

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.94
0.98
N/A

Morningstar Rating

Category: Large Growth
4 stars 4 stars
1168 funds
4 stars 4 stars
1049 funds
N/A N/A
4 stars 4 stars
1168 funds
Fund Name / Symbol

Capital Appreciation Fund (A) 15

CMNWX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
62.03 62.03 57.65 57.65
0.18 0.18 NA NA
0.29 0.29 NA NA
11.97 11.97 4.53 -1.21

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
53.65 38.57 45.20 30.94
16.68 17.94 14.50 15.74
15.54 16.50 14.24 15.19
12.95 13.48 12.31 12.84
12.63 12.75 12.44 12.57

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.83
0.83
N/A
N/A

Morningstar Rating

Category: Large Blend
4 stars 4 stars
1224 funds
3 stars 3 stars
1055 funds
3 stars 3 stars
795 funds
3 stars 3 stars
1224 funds
Fund Name / Symbol

Equity Income Fund (A)

PQIAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
39.57 39.57 38.10 38.10
-0.51 -0.51 NA NA
-1.27 -1.27 NA NA
12.20 12.20 7.40 1.48

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
52.94 42.18 44.52 34.34
12.35 13.88 10.26 11.76
13.40 13.95 12.12 12.67
11.38 11.73 10.76 11.10
8.97 9.03 8.90 8.96

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.88
0.88
N/A
N/A

Morningstar Rating

Category: Large Value
4 stars 4 stars
1131 funds
4 stars 4 stars
1001 funds
4 stars 4 stars
727 funds
4 stars 4 stars
1131 funds
Fund Name / Symbol

LargeCap Growth Fund I (A) 11, 22, 77

PLGAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
21.74 21.74 19.44 19.44
0.48 0.48 NA NA
2.26 2.26 NA NA
11.60 11.60 0.98 -4.56

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
58.74 36.78 50.06 29.23
21.78 22.30 19.50 20.02
21.34 22.28 19.98 20.89
15.78 16.30 15.13 15.64
7.82 8.08 7.52 7.78

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.99
1.01
N/A

Morningstar Rating

Category: Large Growth
4 stars 4 stars
1168 funds
4 stars 4 stars
1049 funds
4 stars 4 stars
779 funds
4 stars 4 stars
1168 funds
Fund Name / Symbol

LargeCap S&P 500 Index Fund (A) 2, 7, 11, 32

PLSAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
24.37 24.37 22.80 22.80
-0.01 -0.01 NA NA
-0.04 -0.04 NA NA
12.93 12.93 6.07 4.47

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
55.66 39.69 53.33 37.63
16.27 17.49 15.69 16.91
15.76 16.63 15.41 16.29
13.34 13.81 13.17 13.64
6.87 7.11 6.79 7.03

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.42
0.42
N/A
N/A

Morningstar Rating

Category: Large Blend
3 stars 3 stars
1224 funds
3 stars 3 stars
1055 funds
4 stars 4 stars
795 funds
4 stars 4 stars
1224 funds

Small/Mid U.S. Equity

Fund Name / Symbol

Edge MidCap Fund (A) 1, 11, 15

PEMCX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
17.96 17.96 17.01 17.01
-0.20 -0.20 NA NA
-1.10 -1.10 NA NA
11.14 11.14 5.07 -0.70

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
62.25 44.01 53.30 36.04
13.17 14.47 11.06 12.32
13.21 13.93 11.93 12.64
- - - -
14.12 15.19 12.96 14.05

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.10
1.45

Morningstar Rating

Category: Mid Cap Blend
3 stars 3 stars
377 funds
3 stars 3 stars
308 funds
N/A N/A
3 stars 3 stars
377 funds
Fund Name / Symbol

MidCap Fund (A) 1, 11, 15, 33, 35

PEMGX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
38.95 38.95 36.23 36.23
0.11 0.11 NA NA
0.28 0.28 NA NA
11.00 11.00 3.42 -2.26

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
60.29 38.86 51.49 31.24
17.64 19.78 15.44 17.55
17.12 17.91 15.79 16.58
14.67 14.95 14.03 14.30
11.26 11.52 10.95 11.22

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.95
0.95
N/A
N/A

Morningstar Rating

Category: Mid Cap Growth
3 stars 3 stars
553 funds
3 stars 3 stars
492 funds
4 stars 4 stars
378 funds
4 stars 4 stars
553 funds
Fund Name / Symbol

MidCap Value Fund I (A) 1, 11, 15, 22, 47

PCMVX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
18.04 18.04 17.46 17.46
-0.36 -0.36 NA NA
-1.96 -1.96 NA NA
20.27 20.27 15.67 9.33

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
73.68 57.03 64.07 48.37
11.83 14.09 9.75 11.96
12.23 13.10 10.97 11.82
10.27 10.90 9.65 10.27
9.80 10.16 9.44 9.81

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.27
1.29
N/A

Morningstar Rating

Category: Mid Cap Value
4 stars 4 stars
389 funds
4 stars 4 stars
344 funds
4 stars 4 stars
245 funds
4 stars 4 stars
389 funds
Fund Name / Symbol

Real Estate Securities Fund (A) 5, 11, 77

PRRAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
31.40 31.40 28.07 28.07
-0.06 -0.06 NA NA
-0.19 -0.19 NA NA
20.91 20.91 6.91 1.03

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
33.54 32.78 26.20 25.47
10.69 12.83 8.63 10.72
6.96 8.95 5.76 7.72
9.53 9.65 8.91 9.03
10.72 11.08 10.41 10.77

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.24
1.24
N/A
N/A

Morningstar Rating

Category: Real Estate
4 stars 4 stars
227 funds
4 stars 4 stars
201 funds
4 stars 4 stars
145 funds
4 stars 4 stars
227 funds
Fund Name / Symbol

Small-MidCap Dividend Income Fund (A) 1, 15

PMDAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
16.46 16.46 16.07 16.07
-0.33 -0.33 NA NA
-1.97 -1.97 NA NA
17.34 17.34 13.73 7.47

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
66.25 51.27 57.03 42.97
5.71 6.66 3.74 4.66
9.82 10.05 8.59 8.81
- - - -
10.06 10.57 9.43 9.95

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.12
1.18
N/A

Morningstar Rating

Category: Mid Cap Value
1 stars 1 stars
389 funds
2 stars 2 stars
344 funds
N/A N/A
2 stars 2 stars
389 funds
Fund Name / Symbol

SmallCap Fund (A) 1, 11, 15, 42

PLLAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
29.21 29.21 27.71 27.71
-0.32 -0.32 NA NA
-1.08 -1.08 NA NA
17.59 17.59 12.92 6.69

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
97.73 64.05 86.91 55.06
15.46 13.94 13.30 11.82
15.98 16.03 14.68 14.72
12.57 12.76 11.94 12.12
9.47 9.57 9.16 9.27

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.18
1.18
N/A
N/A

Morningstar Rating

Category: Small Blend
4 stars 4 stars
605 funds
4 stars 4 stars
507 funds
4 stars 4 stars
357 funds
4 stars 4 stars
605 funds

International Equity

Fund Name / Symbol

Diversified International Fund (A) 3, 11

PRWLX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
16.38 16.38 15.56 15.56
-0.08 -0.08 NA NA
-0.49 -0.49 NA NA
8.69 8.69 3.19 -2.51

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
54.98 45.48 46.44 37.50
7.07 9.19 5.07 7.16
9.54 10.39 8.31 9.16
5.92 6.21 5.32 5.62
4.80 5.04 4.51 4.75

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.20
1.20
N/A
N/A

Morningstar Rating

Category: Foreign Large Blend
3 stars 3 stars
664 funds
3 stars 3 stars
568 funds
4 stars 4 stars
375 funds
4 stars 4 stars
664 funds
Fund Name / Symbol

Global Real Estate Securities Fund (A) 3, 5, 32

POSAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
10.48 10.48 9.57 9.57
-0.02 -0.02 NA NA
-0.19 -0.19 NA NA
15.16 15.16 4.29 -1.45

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
34.38 33.35 27.07 26.02
6.53 8.51 4.54 6.47
5.75 7.49 4.56 6.27
7.03 7.25 6.42 6.65
3.70 4.21 3.27 3.78

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.33
1.33
N/A
N/A

Morningstar Rating

Category: Global Real Estate
3 stars 3 stars
195 funds
3 stars 3 stars
170 funds
4 stars 4 stars
107 funds
4 stars 4 stars
195 funds
Fund Name / Symbol

International Emerging Markets Fund (A) 3, 11, 19

PRIAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
34.12 34.12 32.62 32.62
0.12 0.12 NA NA
0.35 0.35 NA NA
9.39 9.39 4.84 -0.94

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
65.44 53.69 56.35 45.23
4.04 7.28 2.10 5.28
11.29 12.92 10.04 11.65
2.90 3.24 2.32 2.66
8.62 8.76 8.32 8.46

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.55
1.67
N/A

Morningstar Rating

Category: Diversified Emerging Markets
2 stars 2 stars
689 funds
3 stars 3 stars
595 funds
2 stars 2 stars
291 funds
2 stars 2 stars
689 funds
Fund Name / Symbol

Origin Emerging Markets Fund (A) 3, 40

POEYX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
14.81 14.81 14.49 14.49
0.10 0.10 NA NA
0.68 0.68 NA NA
7.40 7.40 5.44 -0.34

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
53.89 39.07 45.45 31.45
4.74 7.05 2.79 5.05
12.65 13.18 11.39 11.91
- - - -
6.96 7.10 5.99 6.15

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.60
2.56
N/A

Morningstar Rating

Category: Diversified Emerging Markets
3 stars 3 stars
689 funds
3 stars 3 stars
595 funds
N/A N/A
3 stars 3 stars
689 funds

Specialty

Fund Name / Symbol

Diversified Real Asset Fund (A) 24, 32

PRDAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
13.24 13.24 12.53 12.53
-0.19 -0.19 NA NA
-1.41 -1.41 NA NA
9.78 9.78 4.06 0.16

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
34.04 30.26 28.96 25.37
4.79 6.05 3.45 4.70
5.48 6.20 4.68 5.39
2.35 2.91 1.96 2.51
3.89 4.40 3.53 4.05

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.21
1.31

Morningstar Rating

Category: World Allocation
2 stars 2 stars
398 funds
2 stars 2 stars
346 funds
1 stars 1 stars
218 funds
2 stars 2 stars
398 funds
Fund Name / Symbol

Global Diversified Income Fund (A) 20, 32

PGBAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
13.92 13.92 13.55 13.55
-0.05 -0.05 NA NA
-0.36 -0.36 NA NA
5.47 5.47 2.00 -1.81

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
24.80 22.62 20.15 18.03
3.78 5.19 2.48 3.86
5.41 5.71 4.61 4.91
5.23 5.36 4.82 4.96
8.94 9.10 8.61 8.76

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.01
1.09
N/A

Morningstar Rating

Category: Allocation--15% to 30% Equity
1 stars 1 stars
162 funds
2 stars 2 stars
144 funds
3 stars 3 stars
89 funds
2 stars 2 stars
162 funds
Fund Name / Symbol

Global Multi-Strategy Fund (A) 31, 32

PMSAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
11.61 11.61 11.34 11.34
-0.05 -0.05 NA NA
-0.43 -0.43 NA NA
3.57 3.57 1.34 -2.49

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
17.22 14.01 12.85 9.78
3.49 4.48 2.18 3.16
3.61 4.09 2.82 3.29
- - - -
3.18 3.42 2.76 3.01

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
3.69
3.73
N/A

Morningstar Rating

Category: Multistrategy
3 stars 3 stars
131 funds
3 stars 3 stars
104 funds
N/A N/A
3 stars 3 stars
131 funds

Fixed Income

Fund Name / Symbol

California Municipal Fund (A) 14

SRCMX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
11.21 11.21 11.02 11.02
-0.02 -0.02 NA NA
-0.18 -0.18 NA NA
1.91 1.91 -0.29 -4.00

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
7.63 8.00 3.56 3.96
4.72 5.00 3.40 3.69
3.39 3.44 2.60 2.65
5.60 5.28 5.20 4.88
5.13 5.16 5.00 5.03

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.79
0.79
N/A
N/A

Morningstar Rating

Category: Muni California Intermediate
5 stars 5 stars
64 funds
5 stars 5 stars
58 funds
5 stars 5 stars
50 funds
5 stars 5 stars
64 funds
Fund Name / Symbol

Core Fixed Income Fund (A) 16, 18

CMPIX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
10.00 10.00 9.88 9.88
0.02 0.02 NA NA
0.20 0.20 NA NA
-1.97 -1.97 -3.55 -5.75

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
4.59 1.28 2.25 -0.99
4.46 4.71 3.66 3.91
3.74 3.73 3.27 3.26
3.77 3.64 3.53 3.41
7.10 7.10 6.99 6.99

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.79
0.79
N/A
N/A

Morningstar Rating

Category: Intermediate Core Bond
2 stars 2 stars
391 funds
4 stars 4 stars
341 funds
4 stars 4 stars
256 funds
4 stars 4 stars
391 funds
Fund Name / Symbol

Core Plus Bond Fund (A) 11, 16, 18, 32, 43, 65

PRBDX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
11.04 11.04 10.88 10.88
0.03 0.03 NA NA
0.27 0.27 NA NA
-1.13 -1.13 -2.85 -6.50

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
5.67 2.33 1.70 -1.54
5.03 5.51 3.69 4.19
3.72 3.74 2.93 2.94
3.50 3.33 3.10 2.94
4.06 4.08 3.87 3.89

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.85
1.03

Morningstar Rating

Category: Intermediate Core-Plus Bond
3 stars 3 stars
543 funds
3 stars 3 stars
480 funds
2 stars 2 stars
342 funds
3 stars 3 stars
543 funds
Fund Name / Symbol

Finisterre Emer Mkts Total Ret Bond Fund (A) 3, 11, 16, 18

PFUEX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
10.61 10.61 10.41 10.41
-0.03 -0.03 NA NA
-0.28 -0.28 NA NA
-0.03 -0.03 -2.23 -5.91

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
16.02 10.35 11.72 6.21
5.58 6.80 4.26 5.44
- - - -
- - - -
6.13 6.36 5.28 5.53

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.21
2.46
N/A

Morningstar Rating

Category: Emerging Markets Bond
5 stars 5 stars
243 funds
N/A N/A
N/A N/A
5 stars 5 stars
243 funds
Fund Name / Symbol

Government & High Quality Bond Fund (A) 16, 18, 30

CMPGX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
10.41 10.41 10.44 10.44
0.00 0.00 NA NA
0.00 0.00 NA NA
-0.85 -0.85 -0.76 -2.97

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.11 -0.23 -1.15 -2.43
3.24 3.17 2.47 2.41
1.78 1.81 1.32 1.34
2.38 2.20 2.15 1.97
5.82 5.80 5.69 5.67

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.78
0.78
N/A
N/A

Morningstar Rating

Category: Intermediate Government
2 stars 2 stars
224 funds
2 stars 2 stars
202 funds
3 stars 3 stars
177 funds
3 stars 3 stars
224 funds
Fund Name / Symbol

High Yield Fund (A) 4, 16, 18

CPHYX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
7.38 7.38 7.28 7.28
0.00 0.00 NA NA
0.00 0.00 NA NA
3.42 3.42 1.13 -2.61

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
21.92 14.25 17.43 10.00
5.48 5.87 4.16 4.54
6.98 6.43 6.18 5.63
5.74 5.70 5.33 5.29
7.09 7.10 6.91 6.93

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.92
0.92
N/A
N/A

Morningstar Rating

Category: High Yield Bond
3 stars 3 stars
631 funds
3 stars 3 stars
557 funds
4 stars 4 stars
356 funds
4 stars 4 stars
631 funds
Fund Name / Symbol

Opportunistic Municipal Fund (A) 14, 32, 65

PMOAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
11.69 11.69 11.27 11.27
0.00 0.00 NA NA
0.00 0.00 NA NA
5.31 5.31 0.90 -2.89

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
14.11 15.98 9.82 11.65
5.92 6.56 4.58 5.22
4.94 5.08 4.15 4.28
- - - -
5.30 5.56 4.84 5.11

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.91
0.99

Morningstar Rating

Category: High Yield Muni
3 stars 3 stars
180 funds
3 stars 3 stars
152 funds
N/A N/A
3 stars 3 stars
180 funds
Fund Name / Symbol

Spectrum Preferred and Capital Sec Income (A) Fd 11, 16, 18, 58

PPSAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
10.61 10.61 10.45 10.45
0.00 0.00 NA NA
0.00 0.00 NA NA
2.06 2.06 -0.12 -3.85

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
19.88 11.81 15.44 7.66
5.57 6.48 4.23 5.14
5.82 5.74 5.01 4.93
6.13 6.05 5.72 5.65
5.84 5.88 5.62 5.66

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.05
1.05
N/A
N/A

Morningstar Rating

Category: Preferred Stock
3 stars 3 stars
54 funds
3 stars 3 stars
45 funds
3 stars 3 stars
26 funds
3 stars 3 stars
54 funds
Fund Name / Symbol

Tax-Exempt Bond Fund (A) 14

PTEAX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
7.74 7.74 7.58 7.58
-0.02 -0.02 NA NA
-0.26 -0.26 NA NA
2.64 2.64 0.04 -3.75

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
9.40 10.04 5.24 5.90
4.99 5.36 3.65 4.02
3.56 3.66 2.77 2.88
4.95 4.75 4.55 4.35
5.27 5.29 5.16 5.18

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.81
0.81
N/A
N/A

Morningstar Rating

Category: Muni National Intermediate
4 stars 4 stars
250 funds
5 stars 5 stars
224 funds
5 stars 5 stars
164 funds
5 stars 5 stars
250 funds

Short-Term Fixed Income

Fund Name / Symbol

Money Market Fund (A)
SEC 7-Day Yield as of is 0.00% SEC 7-Day Yield as of is 0.00% SEC 7-Day Yield as of is 0.00% SEC 7-Day Yield as of is 0.00%
6, 11, 21, 48

PCSXX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
1.00 1.00 1.00 1.00
0.00 0.00 NA NA
0.00 0.00 NA NA
0.00 0.00 0.00 0.00

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
0.09 0.00 0.09 0.00
1.18 1.09 1.18 1.09
0.90 0.90 0.90 0.90
0.45 0.45 0.45 0.45
1.21 1.20 1.21 1.20

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.51
0.54
N/A

Morningstar Rating

Category: Money Market
N/A N/A
N/A N/A
N/A N/A
N/A N/A
Fund Name / Symbol

Short-Term Income Fund (A) 16, 18, 32

SRHQX

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ NAV
$ Chg
% Chg
% YTD
12.41 12.41 12.39 12.39
0.00 0.00 NA NA
0.00 0.00 NA NA
-0.23 -0.23 -0.57 -2.83

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
3.78 1.47 1.44 -0.83
3.01 3.03 2.22 2.24
2.31 2.31 1.84 1.85
2.07 2.01 1.84 1.78
3.62 3.61 3.53 3.52

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.66
0.66
N/A
N/A

Morningstar Rating

Category: Short Term Bond
3 stars 3 stars
520 funds
3 stars 3 stars
464 funds
3 stars 3 stars
301 funds
3 stars 3 stars
520 funds

Disclosures

An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time

Not FDIC Insured
May Lose Value - Not a Deposit - No Bank Guarantee

Not Insured by any Federal Government Agency

Investors should carefully consider a fund's investment objectives, risks, charges, and expenses prior to investing.

Investment results shown represent historical performance and do not guarantee future results. Your mutual fund's returns and principal values will 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 shown.

A Shares - Maximum up-front sales charges may apply. See the prospectus for details. Equity Funds, 5.5% (except LargeCap S&P 500 Index Fund, 1.5%); SAM Portfolios, 5.5% (except SAM Flexible Income Portfolio, 3.75%); Principal LifeTime Funds, 5.5% (except Principal LifeTime Strategic Income Fund, 3.75%); Specialty Funds, 3.75%; Fixed-Income Funds, 3.75% (except Income, Short-Term Income, and Government & High Quality Bond, 2.25%); Municipal Funds, 4.5%. Money Market does not have an up-front sales charge.

Principal Global Investors is the Investment Adviser of all funds included in the Principal Funds, Inc. Principal Funds are managed by Principal Global Investors, its boutique affiliates, and by many leading sub-advisors.

In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the mutual fund. Performance shown reflects the application of net expenses of the fund.

See the Principal Funds, Inc. prospectus for the full name of each Fund.

Returns shown for periods of less than one year are not annualized.

Principal Funds Class P shares automatically converted to Institutional Class shares effective close of business June 23, 2017.

Money Market investment options are not guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although these Funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money.

Price The price, or net asset value is the value of mutual fund shares determined by deducting the fund's liabilities from the total assets of the portfolio and dividing this amount by the number of shares outstanding. This cannot be relied upon as today's offering price.

YTD at NAV % - Measured from January 1, 2020 to the most recent established NAV date. Returns include the reinvestment of dividends and capital gains distributions at NAV.

Average Annual Total Return at Maximum Offering Price (MOP) - The highest price that may be charged for purchases of fund shares, including the maximum contingent deferred sales charge or the maximum front end sales charge, whichever is applicable. Returns include the reinvestment of dividends and capital gains distributions at NAV as of previous month end or previous quarter end.

Morningstar Ratings are as of previous month end.

Since Inception return represents Average Annual Total Return at Maximum Offering Price (MOP) from Extended Performance Inception Date as of previous month end or previous quarter end.

Contingent Deferred Sales Charge (CDSC) - A deferred sales charge, which is paid at the time of redemption and generally decreases with the amount of time that fund shares are held before sale, ultimately declining to 0%. It is referred to as a contingent sales charge because of such declining schedule. The CDSC is also commonly called a back-end load. Performance displayed reflects the application of these charges.

The 7-Day Yield % more closely reflects the current earnings of this money market investment option than the total return displayed.

Morningstar Ratings do not reflect the inclusion of sales charges. If sales charges were reflected, rankings could be lower.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance does not guarantee future results. © 2021 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.


Footnotes

1 Small-cap and mid-cap investment options are subject to more fluctuation in value and may have additional risks than other investment options with stocks of larger, more stable companies.


2 Each index based investment option is invested in the stocks or bonds of the index it tracks. Performance of indexes reflects the unmanaged results for the market segment the selected stocks or bonds represent. There is no assurance an index based investment option will match the performance of the index tracked.


3 International and global investment options are subject to additional risk due to fluctuating exchange rates, foreign accounting and financial policies, and other economic and political environments.


4 High yield investment options are subject to greater credit risk and volatility that is associated with high yield bonds.


5 Real Estate investment options are subject to investment and liquidity risk and other risks inherent in real estate such as those associated with general and local economic conditions. Property values can decline due to environmental and other reasons. In addition, fluctuation in interest rates can negatively impact the performance of real estate investment options.


6 An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.


7 S&P 500 is a trademark of S&P Global and is used under license. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the product.


11 These calculated returns reflect the historical performance of the oldest share class of the fund, adjusted to reflect a portion of the fees and expenses of this share class. For time periods prior to inception date of the fund, predecessor performance is reflected. Please see the fund's prospectus for more information on specific expenses, and the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class.


12 Equity investment options involve greater risk, including heightened volatility, than fixed-income investment options. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise.


13 Asset allocation does not guarantee a profit or protect against a loss. Investing in real estate, small-cap, international, and high-yield investment options involves additional risks.


14 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.


15 Small-cap and mid-cap stocks may have additional risks, including greater price volatility.


16 Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal of bond investment options nor their yields are guaranteed by the U.S. government.


18 Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure.


19 Instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.


20 Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Lower-rated securities are subject to additional credit and default risks. Risks associated with preferred securities differ from risks inherent with other investments. In particular, in the event of bankruptcy, a company's preferred securities are senior to common stock but subordinated to all other types of corporate debt. International investing involves increased risks due to currency fluctuations, political or social instability, and differences in accounting standards, these risks are magnified in emerging markets. REIT securities are subject to risk factors associated with the real estate industry and tax factors of REIT registration.


21 The investment adviser may voluntarily limit a certain portion of the fund's expenses collected from the Money Market Fund on a temporary basis.


22 The manager of the Fund, Principal Global Investors, invests between 10% and 40% of the Fund's assets in common stocks in an attempt to match or exceed the performance of the Fund's benchmark index for performance.


23 Asset allocation and diversification do not ensure a profit or protect against a loss. Additionally there is no guarantee this investment option will provide adequate income at or through retirement.


24 Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal of bond investment options nor their yields are guaranteed by the U.S. or any other government entity. Concentrating investments in natural resources industries can be affected significantly by events relating to those industries, such as variations in the commodities markets, weather, disease, embargoes, international, political and economic developments, the success of exploration projects, tax and other government regulations and other factors. Investment in derivatives entails specific risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. REIT securities are subject to risk factors associated with the real estate industry and tax factors of REIT registration.


30 For Government High Quality Bond Fund (A) the Distributor has voluntarily agreed to waive .10% which limits the investment option's 12b-1 fees to .15%. These limits apply now but may be terminated at any time.


31 This fund utilizes alternative investment strategies such as arbitrage, leverage, derivatives, and shorting securities in addition to traditional investments. Investment risk may be magnified with the use of these alternative strategies. In addition, securities such as bonds, equities, commodities, international and emerging market securities, and currencies are used to implement the investment strategy. These investments are subject to risks associated with market and interest rate movements. The fund is considered non-diversified which may make it more susceptible to price volatility if the fund does not meet its objective. Due to the nature of the investment process, investors should not expect significant outperformance during market rallies. Additional risks are included in the funds prospectus. It is possible to lose money when investing in the fund.


32 The risks associated with derivative investments include that the underlying security, interest rate, market index, or other financial asset will not move in the direction the Investment Adviser and/or Sub-Advisor anticipated, the possibility that there may be no liquid secondary market, the risk that adverse price movements in an instrument can result in a loss substantially greater than a fund's initial investment, 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.


33 Formerly known as MidCap Blend Fund.


35 Effective June 14, 2013, the Principal MidCap Fund closed to certain new investors. Please see the prospectus for more complete information


40 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.


41 International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards.


42 Formerly known as SmallCap Blend Fund.


43 Formerly known as Bond & Mortgage Securities Fund.


47 Effective June 30, 2016, this portfolio is sub-advised by LA Capital and Victory Capital. Prior to June 30, 2016, the portfolio was sub-advised by Goldman Sachs and LA Capital. The portfolio has had various sub-advisors since its inception. Performance results displayed reflect all sub-advisors managing this portfolio during the time periods displayed.


48 You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The Fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.


52 This Principal LifeTime Fund indirectly bears its pro rata share of the management fees incurred by the underlying Principal Funds in which this fund invests. Based on the asset allocation of the Principal LifeTime Funds outlined in the prospectus dated March 1, 2017, the weighted average operating expenses of the underlying funds are: Principal LifeTime Strategic Income, 0.61%; Principal LifeTime 2010, 0.65%; Principal LifeTime 2020, 0.70%; Principal LifeTime 2030, 0.72%; Principal LifeTime 2040, 0.70%; Principal LifeTime 2050, 0.72%. While the operating expenses of the underlying mutual funds are not part of the Principal LifeTime Fund's operating expenses they are included in the Total Investment Expense. Performance results shown for the Principal LifeTime Fund reflect the application of these expenses.


54 This Principal Strategic Asset Management Portfolio (SAM) indirectly bears its pro rata share of the management fees incurred by the underlying Principal Funds in which this portfolio invests. Based on the asset allocation of the SAM Portfolio outlined in the prospectus dated March 1, 2017, the weighted average operating expenses of the underlying funds are: Flexible Income, 0.57%; Conservative Balanced, 0.68%; Balanced, 0.74%; Conservative Growth, 0.79%; Strategic Growth, 0.78%. While the operating expenses of the underlying mutual funds are not part of the SAM Portfolio operating expenses they are included in the Total Investment Expense. Performance results shown for the SAM Portfolios reflect the application of these expenses.


58 Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Risks of preferred securities differ from risks inherent in other investments. In particular, in a bankruptcy preferred securities are senior to common stock but subordinate to other corporate debt. Contingent capital securities (CoCos) may have substantially greater risk than other securities in times of financial stress. An issuer or regulators decision to write down, write off or convert a CoCo may result in complete loss on an investment.


60 This Principal LifeTime Fund indirectly bears its pro rata share of the management fees incurred by the underlying Principal Funds in which this fund invests. Based on the asset allocation of the Principal LifeTime Funds outlined in the prospectus dated March 1, 2018, the weighted average operating expenses of the underlying funds are: Principal LifeTime Strategic Income, 0.62%; Principal LifeTime 2010, 0.65%; Principal LifeTime 2020, 0.69%; Principal LifeTime 2030, 0.71%; Principal LifeTime 2040, 0.68%; Principal LifeTime 2050, 0.70%. While the operating expenses of the underlying mutual funds are not part of the Principal LifeTime Fund's operating expenses they are included in the Total Investment Expense. Performance results shown for the Principal LifeTime Fund reflect the application of these expenses.


62 This Principal Strategic Asset Management Portfolio (SAM) indirectly bears its pro rata share of the management fees incurred by the underlying Principal Funds in which this portfolio invests. Based on the asset allocation of the SAM Portfolio outlined in the prospectus dated March 1, 2018, the weighted average operating expenses of the underlying funds are: Flexible Income, 0.56%; Conservative Balanced, 0.68%; Balanced, 0.75%; Conservative Growth, 0.74%; Strategic Growth, 0.75%. While the operating expenses of the underlying mutual funds are not part of the SAM Portfolio operating expenses they are included in the Total Investment Expense. Performance results shown for the SAM Portfolios reflect the application of these expenses.


65 Effective November 30, 2018, class C shares will be closed to new investors. Effective January 11, 2019, class C shares will be converted to the respective class A shares.


69 This Principal Strategic Asset Management Portfolio (SAM) indirectly bears its pro rata share of the management fees incurred by the underlying Principal Funds in which this portfolio invests. Based on the asset allocation of the SAM Portfolio outlined in the prospectus dated March 1, 2019, the weighted average operating expenses of the underlying funds are: Flexible Income, 0.51%; Conservative Balanced, 0.62%; Balanced, 0.64%; Conservative Growth, 0.67%; Strategic Growth, 0.68%. While the operating expenses of the underlying mutual funds are not part of the SAM Portfolio operating expenses they are included in the Total Investment Expense. Performance results shown for the SAM Portfolios reflect the application of these expenses.


71 Additional target date portfolios may be added to the Principal LifeTime portfolios series to accommodate plan participants with later normal retirement dates as they enter the workforce. Participants may also choose a portfolio with a target date that does not match the intended retirement date. Compare the different portfolios to see how the mix of investments might shift.


73 This Principal LifeTime Fund indirectly bears its pro rata share of the management fees incurred by the underlying Principal Funds in which this fund invests. Based on the asset allocation of the Principal LifeTime Funds outlined in the prospectus dated March 1, 2020, the weighted average operating expenses of the underlying funds are: Principal LifeTime Strategic Income, 0.59%; Principal LifeTime 2010, 0.60%; Principal LifeTime 2020, 0.64%; Principal LifeTime 2030, 0.768%; Principal LifeTime 2040, 0.64%; Principal LifeTime 2050, 0.67%. While the operating expenses of the underlying mutual funds are not part of the Principal LifeTime Fund's operating expenses they are included in the Total Investment Expense. Performance results shown for the Principal LifeTime Fund reflect the application of these expenses.


75 This Principal Strategic Asset Management Portfolio (SAM) indirectly bears its pro rata share of the management fees incurred by the underlying Principal Funds in which this portfolio invests. Based on the asset allocation of the SAM Portfolio outlined in the prospectus dated March 1, 2020, the weighted average operating expenses of the underlying funds are: Flexible Income, 0.51%; Conservative Balanced, 0.60%; Balanced, 0.64%; Conservative Growth, 0.60%; Strategic Growth, 0.59%. While the operating expenses of the underlying mutual funds are not part of the SAM Portfolio operating expenses they are included in the Total Investment Expense. Performance results shown for the SAM Portfolios reflect the application of these expenses.


77 This investment option is considered non-diversified, which means it, or the underlying mutual fund, can invest a higher percentage of its assets in of fewer individual issuers than a diversified investment. As a result, changes in the value of a single investment could cause greater fluctuations, gain or loss, in the net asset value than would occur if it was more diversified.


78 Selecting a target date fund series is also authorizing any additional vintage which is launched by the investment provider for the series, and included in their associated materials, to be added to the plan after proper notification.


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