A commitment to excellence

A commitment to excellence

Principal Global Investors is proud to be recognized as one of Barron’s Best Fund Families for 2019, along with earning a #3 ranking in the U.S. Equity category and #4 in the Tax‑Exempt Bond category.

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Pricing & Performance

*Morningstar® Ratings as of

Asset Allocation - Target Risk

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

$ Chg
% Chg
% YTD
-0.04 -0.04 NA NA
-0.26 -0.26 NA NA
0.99 0.99 -4.30 -5.25

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.87 5.46 0.90 4.46
5.24 6.02 5.24 6.02
5.27 5.94 5.27 5.94
7.91 7.81 7.91 7.81
6.89 7.04 6.89 7.04

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.08
1.08
N/A
N/A

Morningstar Rating

Category: Allocation--50% to 70% Equity
3 stars 3 stars
636 funds
3 stars 3 stars
562 funds
3 stars 3 stars
411 funds
3 stars 3 stars
636 funds

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

$ Chg
% Chg
% YTD
-0.03 -0.03 NA NA
-0.25 -0.25 NA NA
1.69 1.69 -2.50 -3.46

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
2.47 5.37 1.48 4.37
4.55 5.18 4.55 5.18
4.53 5.08 4.53 5.08
6.42 6.37 6.42 6.37
5.28 5.40 5.28 5.40

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.07
1.07
N/A
N/A

Morningstar Rating

Category: Allocation--30% to 50% Equity
3 stars 3 stars
510 funds
3 stars 3 stars
431 funds
4 stars 4 stars
282 funds
4 stars 4 stars
510 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.29 -0.29 NA NA
0.06 0.06 -6.15 -7.09

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.12 5.31 0.15 4.31
5.90 6.75 5.90 6.75
5.96 6.76 5.96 6.76
9.19 9.05 9.19 9.05
7.20 7.39 7.20 7.39

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.08
1.08
N/A
N/A

Morningstar Rating

Category: Allocation--70% to 85% Equity
4 stars 4 stars
308 funds
4 stars 4 stars
281 funds
4 stars 4 stars
193 funds
4 stars 4 stars
308 funds

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

$ Chg
% Chg
% YTD
-0.03 -0.03 NA NA
-0.24 -0.24 NA NA
1.44 1.44 -1.72 -2.69

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
2.41 4.62 1.42 3.62
4.08 4.67 4.08 4.67
4.06 4.55 4.06 4.55
5.50 5.46 5.50 5.46
5.70 5.80 5.70 5.80

Fund Expenses

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

Morningstar Rating

Category: Allocation--15% to 30% Equity
3 stars 3 stars
173 funds
4 stars 4 stars
157 funds
4 stars 4 stars
93 funds
4 stars 4 stars
173 funds

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

$ Chg
% Chg
% YTD
-0.06 -0.06 NA NA
-0.33 -0.33 NA NA
0.06 0.06 -7.15 -8.08

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.01 6.19 0.05 5.19
6.04 7.13 6.04 7.13
5.97 7.04 5.97 7.04
9.93 9.82 9.93 9.82
7.54 7.76 7.54 7.76

Fund Expenses

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

Morningstar Rating

Category: Allocation--85%+ Equity
4 stars 4 stars
155 funds
4 stars 4 stars
138 funds
4 stars 4 stars
101 funds
4 stars 4 stars
155 funds

Asset Allocation - Target Date

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

$ Chg
% Chg
% YTD
-0.04 -0.04 NA NA
-0.30 -0.30 NA NA
4.63 4.63 1.10 0.10

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
5.24 7.77 4.25 6.77
5.22 5.72 5.22 5.72
4.70 5.15 4.70 5.15
6.70 6.47 6.70 6.47
4.70 4.83 4.70 4.83

Fund Expenses

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

Morningstar Rating

Category: Target-Date 2000-2010
3 stars 3 stars
90 funds
2 stars 2 stars
71 funds
3 stars 3 stars
54 funds
3 stars 3 stars
90 funds

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

$ Chg
% Chg
% YTD
-0.04 -0.04 NA NA
-0.28 -0.28 NA NA
3.84 3.84 -0.74 -1.73

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
4.48 7.67 3.52 6.68
5.74 6.30 5.74 6.30
5.36 5.89 5.36 5.89
7.90 7.65 7.90 7.65
5.33 5.49 5.33 5.49

Fund Expenses

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

Morningstar Rating

Category: Target-Date 2020
3 stars 3 stars
196 funds
3 stars 3 stars
149 funds
3 stars 3 stars
95 funds
3 stars 3 stars
196 funds

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

$ Chg
% Chg
% YTD
-0.04 -0.04 NA NA
-0.27 -0.27 NA NA
3.04 3.04 -2.70 -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
3.71 7.76 2.73 6.76
6.09 6.86 6.09 6.86
5.81 6.51 5.81 6.51
8.70 8.47 8.70 8.47
5.49 5.69 5.49 5.69

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.89
0.89
N/A
N/A

Morningstar Rating

Category: Target-Date 2030
3 stars 3 stars
210 funds
3 stars 3 stars
164 funds
3 stars 3 stars
103 funds
3 stars 3 stars
210 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.32 -0.32 NA NA
2.03 2.03 -4.13 -5.09

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
3.03 7.39 2.07 6.39
6.47 7.31 6.47 7.31
6.09 6.88 6.09 6.88
9.30 9.06 9.30 9.06
5.62 5.85 5.62 5.85

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.87
0.87
N/A
N/A

Morningstar Rating

Category: Target-Date 2040
4 stars 4 stars
210 funds
3 stars 3 stars
164 funds
3 stars 3 stars
103 funds
3 stars 3 stars
210 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.33 -0.33 NA NA
1.19 1.19 -5.44 -6.38

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
2.12 6.78 1.17 5.78
6.35 7.28 6.35 7.28
6.10 6.94 6.10 6.94
9.51 9.28 9.51 9.28
5.35 5.60 5.35 5.60

Fund Expenses

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

Morningstar Rating

Category: Target-Date 2050
3 stars 3 stars
210 funds
3 stars 3 stars
164 funds
3 stars 3 stars
83 funds
3 stars 3 stars
210 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.34 -0.34 NA NA
0.48 0.48 -6.23 -7.17

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.47 6.21 0.51 5.21
6.07 7.01 6.07 7.01
5.97 6.81 5.97 6.81
- - - -
7.78 8.43 7.78 8.43

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.06
1.32
N/A

Morningstar Rating

Category: Target-Date 2060+
3 stars 3 stars
170 funds
2 stars 2 stars
63 funds
N/A N/A
2 stars 2 stars
170 funds

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

$ Chg
% Chg
% YTD
-0.04 -0.04 NA NA
-0.34 -0.34 NA NA
4.49 4.49 0.53 -0.47

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
5.17 8.20 4.17 7.20
5.13 5.70 5.13 5.70
4.90 5.46 4.90 5.46
- - - -
4.96 5.43 4.96 5.43

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.63
0.77
N/A

Morningstar Rating

Category: Target-Date 2015
3 stars 3 stars
99 funds
3 stars 3 stars
72 funds
N/A N/A
3 stars 3 stars
99 funds

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

$ Chg
% Chg
% YTD
-0.04 -0.04 NA NA
-0.33 -0.33 NA NA
4.07 4.07 -0.52 -1.51

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
4.81 8.17 3.81 7.17
5.32 5.95 5.32 5.95
5.27 5.89 5.27 5.89
- - - -
5.40 5.94 5.40 5.94

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.63
0.64
N/A

Morningstar Rating

Category: Target-Date 2020
3 stars 3 stars
196 funds
3 stars 3 stars
149 funds
N/A N/A
3 stars 3 stars
196 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.40 -0.40 NA NA
3.70 3.70 -1.51 -2.50

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
4.38 8.20 3.38 7.20
5.46 6.19 5.46 6.19
5.54 6.23 5.54 6.23
- - - -
5.75 6.36 5.75 6.36

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.63
0.64
N/A

Morningstar Rating

Category: Target-Date 2025
3 stars 3 stars
201 funds
3 stars 3 stars
159 funds
N/A N/A
3 stars 3 stars
201 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.40 -0.40 NA NA
3.40 3.40 -2.32 -3.30

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
4.02 8.25 3.02 7.25
5.57 6.41 5.57 6.41
5.81 6.59 5.81 6.59
- - - -
6.05 6.73 6.05 6.73

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.64
0.71
N/A

Morningstar Rating

Category: Target-Date 2030
3 stars 3 stars
210 funds
3 stars 3 stars
164 funds
N/A N/A
3 stars 3 stars
210 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.39 -0.39 NA NA
2.75 2.75 -3.39 -4.36

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
3.49 7.98 2.49 6.98
5.67 6.54 5.67 6.54
6.01 6.86 6.01 6.86
- - - -
6.29 7.03 6.29 7.03

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.65
0.75
N/A

Morningstar Rating

Category: Target-Date 2035
3 stars 3 stars
198 funds
3 stars 3 stars
156 funds
N/A N/A
3 stars 3 stars
198 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.39 -0.39 NA NA
2.17 2.17 -4.25 -5.21

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
2.94 7.59 1.95 6.59
5.61 6.51 5.61 6.51
6.13 7.00 6.13 7.00
- - - -
6.43 7.20 6.43 7.20

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.66
0.78
N/A

Morningstar Rating

Category: Target-Date 2040
3 stars 3 stars
210 funds
3 stars 3 stars
164 funds
N/A N/A
3 stars 3 stars
210 funds

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

$ Chg
% Chg
% YTD
-0.06 -0.06 NA NA
-0.46 -0.46 NA NA
1.74 1.74 -4.98 -5.93

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
2.57 7.41 1.58 6.41
5.60 6.58 5.60 6.58
6.19 7.12 6.19 7.12
- - - -
6.48 7.30 6.48 7.30

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.67
0.97
N/A

Morningstar Rating

Category: Target-Date 2045
3 stars 3 stars
198 funds
3 stars 3 stars
156 funds
N/A N/A
3 stars 3 stars
198 funds

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

$ Chg
% Chg
% YTD
-0.06 -0.06 NA NA
-0.46 -0.46 NA NA
1.42 1.42 -5.42 -6.37

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
2.26 7.09 1.27 6.09
5.62 6.58 5.62 6.58
6.30 7.24 6.30 7.24
- - - -
6.63 7.45 6.63 7.45

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.67
1.06
N/A

Morningstar Rating

Category: Target-Date 2050
3 stars 3 stars
210 funds
3 stars 3 stars
164 funds
N/A N/A
3 stars 3 stars
210 funds

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

$ Chg
% Chg
% YTD
-0.06 -0.06 NA NA
-0.46 -0.46 NA NA
0.85 0.85 -6.11 -7.05

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.69 6.70 0.70 5.70
5.46 6.43 5.46 6.43
6.26 7.21 6.26 7.21
- - - -
6.60 7.45 6.60 7.45

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.68
2.01
N/A

Morningstar Rating

Category: Target-Date 2055
3 stars 3 stars
198 funds
3 stars 3 stars
153 funds
N/A N/A
3 stars 3 stars
198 funds

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

$ Chg
% Chg
% YTD
-0.06 -0.06 NA NA
-0.45 -0.45 NA NA
0.77 0.77 -6.28 -7.22

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.68 6.74 0.70 5.74
5.44 6.45 5.44 6.45
6.33 7.31 6.33 7.31
- - - -
6.67 7.53 6.67 7.53

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.68
4.30
N/A

Morningstar Rating

Category: Target-Date 2060+
2 stars 2 stars
170 funds
3 stars 3 stars
63 funds
N/A N/A
3 stars 3 stars
170 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.43 -0.43 NA NA
0.96 0.96 -6.13 -7.07

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.95 6.97 0.95 5.97
- - - -
- - - -
- - - -
4.98 6.72 4.98 6.72

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.71
8.14
N/A

Morningstar Rating

Category: Target-Date 2060+
N/A N/A
N/A N/A
N/A N/A
N/A N/A

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

$ Chg
% Chg
% YTD
-0.04 -0.04 NA NA
-0.35 -0.35 NA NA
5.13 5.13 2.24 1.24

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
5.87 8.18 4.87 7.18
4.62 5.11 4.62 5.11
4.09 4.52 4.09 4.52
- - - -
4.03 4.39 4.03 4.39

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.62
1.04
N/A

Morningstar Rating

Category: Target-Date Retirement
3 stars 3 stars
157 funds
3 stars 3 stars
133 funds
N/A N/A
3 stars 3 stars
157 funds

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

$ Chg
% Chg
% YTD
-0.03 -0.03 NA NA
-0.24 -0.24 NA NA
5.07 5.07 1.94 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
5.53 7.89 4.53 6.89
4.88 5.37 4.88 5.37
4.28 4.72 4.28 4.72
5.21 5.16 5.21 5.16
4.09 4.21 4.09 4.21

Fund Expenses

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

Morningstar Rating

Category: Target-Date Retirement
3 stars 3 stars
157 funds
3 stars 3 stars
133 funds
3 stars 3 stars
96 funds
3 stars 3 stars
157 funds

Large U.S. Equity

Fund Name / Symbol

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

$ Chg
% Chg
% YTD
-0.28 -0.28 NA NA
-0.88 -0.88 NA NA
18.69 18.69 10.55 9.55

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
21.51 27.54 20.51 26.54
21.13 22.43 21.13 22.43
17.25 17.61 17.25 17.61
- - - -
17.31 18.02 17.31 18.02

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.98
1.03
N/A

Morningstar Rating

Category: Large Growth
4 stars 4 stars
1232 funds
5 stars 5 stars
1088 funds
N/A N/A
5 stars 5 stars
1232 funds
Fund Name / Symbol

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

$ Chg
% Chg
% YTD
-0.01 -0.01 NA NA
-0.03 -0.03 NA NA
-7.22 -7.22 -14.73 -15.57

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-6.24 -2.98 -7.13 -3.90
5.06 6.30 5.06 6.30
6.71 7.65 6.71 7.65
10.73 10.67 10.73 10.67
8.67 8.74 8.67 8.74

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.93
0.93
N/A
N/A

Morningstar Rating

Category: Large Value
4 stars 4 stars
1114 funds
4 stars 4 stars
980 funds
4 stars 4 stars
701 funds
4 stars 4 stars
1114 funds
Fund Name / Symbol

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

$ Chg
% Chg
% YTD
-0.18 -0.18 NA NA
-1.19 -1.19 NA NA
18.25 18.25 10.19 9.19

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
21.45 28.46 20.45 27.46
20.61 22.35 20.61 22.35
16.18 16.92 16.18 16.92
17.01 17.16 17.01 17.16
6.87 7.23 6.87 7.23

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.85
0.87
N/A

Morningstar Rating

Category: Large Growth
4 stars 4 stars
1232 funds
4 stars 4 stars
1088 funds
4 stars 4 stars
813 funds
4 stars 4 stars
1232 funds

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

$ Chg
% Chg
% YTD
-0.16 -0.16 NA NA
-0.78 -0.78 NA NA
4.16 4.16 -3.29 -4.26

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
7.06 11.56 6.06 10.56
10.32 11.60 10.32 11.60
10.30 11.07 10.30 11.07
13.45 13.31 13.45 13.31
5.68 5.95 5.68 5.95

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.41
0.41
N/A
N/A

Morningstar Rating

Category: Large Blend
4 stars 4 stars
1226 funds
4 stars 4 stars
1053 funds
4 stars 4 stars
809 funds
4 stars 4 stars
1226 funds
Fund Name / Symbol

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

$ Chg
% Chg
% YTD
0.01 0.01 NA NA
0.07 0.07 NA NA
-9.79 -9.79 -15.63 -16.48

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-7.82 -6.00 -8.69 -6.88
2.91 3.82 2.91 3.82
4.87 5.43 4.87 5.43
9.79 9.44 9.79 9.44
5.08 5.25 5.08 5.25

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.08
1.15
N/A

Morningstar Rating

Category: Large Value
3 stars 3 stars
1114 funds
3 stars 3 stars
980 funds
3 stars 3 stars
701 funds
3 stars 3 stars
1114 funds

Small/Mid U.S. Equity

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

$ Chg
% Chg
% YTD
-0.02 -0.02 NA NA
-0.07 -0.07 NA NA
3.43 3.43 -4.99 -5.94

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
4.11 8.53 3.12 7.53
11.93 13.05 11.93 13.05
10.96 11.80 10.96 11.80
15.11 15.24 15.11 15.24
10.19 10.48 10.19 10.48

Fund Expenses

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

Morningstar Rating

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

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

$ Chg
% Chg
% YTD
-0.09 -0.09 NA NA
-1.15 -1.15 NA NA
19.94 19.94 12.06 11.06

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
14.57 19.24 13.57 18.24
14.72 16.63 14.72 16.63
10.38 11.39 10.38 11.39
14.24 14.23 14.24 14.23
4.53 4.87 4.53 4.87

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.00
1.00
N/A
N/A

Morningstar Rating

Category: Mid Cap Growth
3 stars 3 stars
553 funds
3 stars 3 stars
497 funds
3 stars 3 stars
378 funds
3 stars 3 stars
553 funds

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

$ Chg
% Chg
% YTD
-0.08 -0.08 NA NA
-0.79 -0.79 NA NA
10.32 10.32 4.28 3.28

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
11.28 16.54 10.28 15.54
14.10 16.07 14.10 16.07
10.27 11.42 10.27 11.42
12.83 12.88 12.83 12.88
5.02 5.37 5.02 5.37

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.26
1.28
N/A

Morningstar Rating

Category: Mid Cap Growth
3 stars 3 stars
553 funds
3 stars 3 stars
497 funds
2 stars 2 stars
378 funds
3 stars 3 stars
553 funds

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

$ Chg
% Chg
% YTD
-0.02 -0.02 NA NA
-0.11 -0.11 NA NA
-4.91 -4.91 -12.88 -13.75

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-6.99 -3.87 -7.87 -4.78
2.00 3.25 2.00 3.25
4.76 5.68 4.76 5.68
10.73 10.50 10.73 10.50
7.35 7.56 7.35 7.56

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.46
0.46
N/A
N/A

Morningstar Rating

Category: Mid Cap Blend
3 stars 3 stars
372 funds
3 stars 3 stars
299 funds
3 stars 3 stars
218 funds
3 stars 3 stars
372 funds

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

$ Chg
% Chg
% YTD
0.03 0.03 NA NA
0.23 0.23 NA NA
-8.21 -8.21 -15.36 -16.20

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-9.27 -6.81 -10.13 -7.70
1.32 1.94 1.32 1.94
2.96 3.74 2.96 3.74
9.49 9.01 9.49 9.01
7.56 7.75 7.56 7.75

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.03
1.05
N/A

Morningstar Rating

Category: Mid Cap Value
4 stars 4 stars
386 funds
4 stars 4 stars
346 funds
4 stars 4 stars
246 funds
4 stars 4 stars
386 funds

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

$ Chg
% Chg
% YTD
-0.42 -0.42 NA NA
-1.71 -1.71 NA NA
-9.42 -9.42 -13.70 -14.55

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-6.65 -2.63 -7.56 -3.57
4.15 5.77 4.15 5.77
6.42 6.36 6.42 6.36
10.33 9.88 10.33 9.88
10.06 10.33 10.06 10.33

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.17
1.17
N/A
N/A

Morningstar Rating

Category: Real Estate
4 stars 4 stars
222 funds
4 stars 4 stars
196 funds
4 stars 4 stars
140 funds
4 stars 4 stars
222 funds

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

$ Chg
% Chg
% YTD
-0.11 -0.11 NA NA
-0.57 -0.57 NA NA
-2.33 -2.33 -10.77 -11.66

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-5.05 -2.72 -5.94 -3.63
3.65 4.48 3.65 4.48
4.16 4.75 4.16 4.75
11.22 10.97 11.22 10.97
7.53 7.68 7.53 7.68

Fund Expenses

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

Morningstar Rating

Category: Small Blend
4 stars 4 stars
614 funds
3 stars 3 stars
491 funds
5 stars 5 stars
354 funds
4 stars 4 stars
614 funds

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

$ Chg
% Chg
% YTD
-0.12 -0.12 NA NA
-1.17 -1.17 NA NA
12.39 12.39 4.20 3.20

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
7.65 11.41 6.68 10.41
13.72 15.20 13.72 15.20
10.41 11.41 10.41 11.41
14.91 14.75 14.91 14.75
6.52 6.77 6.52 6.77

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.22
1.24
N/A

Morningstar Rating

Category: Small Growth
4 stars 4 stars
578 funds
4 stars 4 stars
510 funds
4 stars 4 stars
381 funds
4 stars 4 stars
578 funds

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

$ Chg
% Chg
% YTD
-0.02 -0.02 NA NA
-0.09 -0.09 NA NA
-9.17 -9.17 -17.90 -18.72

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-11.51 -8.88 -12.34 -9.73
0.20 1.22 0.20 1.22
4.02 5.05 4.02 5.05
10.64 10.41 10.64 10.41
7.83 8.02 7.83 8.02

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.47
0.47
N/A
N/A

Morningstar Rating

Category: Small Blend
3 stars 3 stars
614 funds
4 stars 4 stars
491 funds
4 stars 4 stars
354 funds
4 stars 4 stars
614 funds

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

$ Chg
% Chg
% YTD
0.05 0.05 NA NA
0.56 0.56 NA NA
-15.59 -15.59 -23.19 -23.96

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-18.32 -17.70 -19.13 -18.52
-4.67 -4.20 -4.67 -4.20
-0.51 0.20 -0.51 0.20
7.69 7.11 7.69 7.11
5.21 5.31 5.21 5.31

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.47
1.49
N/A

Morningstar Rating

Category: Small Value
3 stars 3 stars
401 funds
3 stars 3 stars
364 funds
3 stars 3 stars
253 funds
3 stars 3 stars
401 funds

International Equity

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

$ Chg
% Chg
% YTD
0.02 0.02 NA NA
0.16 0.16 NA NA
-1.72 -1.72 -8.51 -9.42

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-2.15 5.26 -3.11 4.26
0.89 1.37 0.89 1.37
2.20 3.26 2.20 3.26
5.98 5.60 5.98 5.60
3.47 3.73 3.47 3.73

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.17
1.17
N/A
N/A

Morningstar Rating

Category: Foreign Large Blend
3 stars 3 stars
633 funds
4 stars 4 stars
520 funds
4 stars 4 stars
360 funds
4 stars 4 stars
633 funds

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

$ Chg
% Chg
% YTD
0.00 0.00 NA NA
0.00 0.00 NA NA
-0.08 -0.08 -9.51 -10.42

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
-3.16 9.05 -4.10 8.05
-0.46 0.03 -0.46 0.03
1.32 4.49 1.32 4.49
2.44 2.48 2.44 2.48
7.17 7.64 7.17 7.64

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.37
1.63
N/A

Morningstar Rating

Category: Diversified Emerging Markets
2 stars 2 stars
698 funds
3 stars 3 stars
584 funds
3 stars 3 stars
246 funds
3 stars 3 stars
698 funds

Fixed Income

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

$ Chg
% Chg
% YTD
-0.06 -0.06 NA NA
-0.50 -0.50 NA NA
6.95 6.95 5.87 4.87

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
7.97 9.44 6.97 8.44
4.61 4.98 4.61 4.98
3.51 3.70 3.51 3.70
2.95 3.00 2.95 3.00
3.20 3.31 3.20 3.31

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.72
0.83

Morningstar Rating

Category: Intermediate Core Bond
3 stars 3 stars
375 funds
2 stars 2 stars
331 funds
2 stars 2 stars
248 funds
2 stars 2 stars
375 funds

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

$ Chg
% Chg
% YTD
-0.04 -0.04 NA NA
-0.39 -0.39 NA NA
7.28 7.28 5.34 4.34

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
7.95 9.80 6.95 8.80
5.19 5.71 5.19 5.71
4.28 4.65 4.28 4.65
4.37 4.42 4.37 4.42
7.20 7.24 7.20 7.24

Fund Expenses

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

Morningstar Rating

Category: Intermediate Core Bond
4 stars 4 stars
375 funds
4 stars 4 stars
331 funds
4 stars 4 stars
248 funds
4 stars 4 stars
375 funds

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

$ Chg
% Chg
% YTD
-0.05 -0.05 NA NA
-0.42 -0.42 NA NA
7.96 7.96 5.75 4.75

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
8.07 10.19 7.07 9.19
4.85 5.44 4.85 5.44
4.06 4.45 4.06 4.45
4.01 4.09 4.01 4.09
4.08 4.18 4.08 4.18

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.92
0.98
N/A

Morningstar Rating

Category: Intermediate Core-Plus Bond
3 stars 3 stars
532 funds
3 stars 3 stars
458 funds
3 stars 3 stars
340 funds
3 stars 3 stars
532 funds

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

$ Chg
% Chg
% YTD
-0.01 -0.01 NA NA
-0.09 -0.09 NA NA
2.45 2.45 2.05 1.05

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
3.96 3.91 2.96 2.91
3.00 2.92 3.00 2.92
2.28 2.23 2.28 2.23
2.48 2.42 2.48 2.42
5.91 5.90 5.91 5.90

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.91
0.91
N/A
N/A

Morningstar Rating

Category: Intermediate Government
2 stars 2 stars
226 funds
2 stars 2 stars
203 funds
3 stars 3 stars
166 funds
3 stars 3 stars
226 funds

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

$ Chg
% Chg
% YTD
-0.03 -0.03 NA NA
-0.34 -0.34 NA NA
7.40 7.40 4.85 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
6.65 8.84 5.65 7.84
3.75 4.50 3.75 4.50
2.44 2.94 2.44 2.94
2.42 2.66 2.42 2.66
1.42 1.57 1.42 1.57

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.15
1.27
N/A

Morningstar Rating

Category: Inflation-Protected Bond
3 stars 3 stars
199 funds
3 stars 3 stars
171 funds
2 stars 2 stars
115 funds
3 stars 3 stars
199 funds

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

$ Chg
% Chg
% YTD
0.01 0.01 NA NA
0.10 0.10 NA NA
0.30 0.30 -3.48 -4.42

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.82 3.62 0.84 2.63
2.93 3.71 2.93 3.71
4.55 4.96 4.55 4.96
6.63 6.48 6.63 6.48
5.35 5.50 5.35 5.50

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
1.16
1.16
N/A
N/A

Morningstar Rating

Category: Preferred Stock
3 stars 3 stars
56 funds
3 stars 3 stars
45 funds
3 stars 3 stars
23 funds
3 stars 3 stars
56 funds

Short-Term Fixed Income

Fund Name / Symbol

Money Market Fund (J)
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, 17, 21, 48

PMJXX

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

$ Chg
% Chg
% YTD
0.00 0.00 NA NA
0.00 0.00 NA NA
0.36 0.36 0.36 -0.64

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
1.14 0.98 0.14 -0.02
1.33 1.31 1.33 1.31
0.84 0.84 0.84 0.84
0.42 0.42 0.42 0.42
1.09 1.08 1.09 1.08

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.61
0.76
N/A
N/A

Morningstar Rating

Category: Money Market
N/A N/A
N/A N/A
N/A N/A
N/A N/A

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

$ Chg
% Chg
% YTD
-0.01 -0.01 NA NA
-0.08 -0.08 NA NA
3.28 3.28 2.78 1.78

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

1 yr
3 yr
5 yr
10 yr
Since
Incep
Incep
Date
4.14 4.49 3.14 3.49
2.91 2.96 2.91 2.96
2.41 2.48 2.41 2.48
2.18 2.15 2.18 2.15
3.53 3.54 3.53 3.54

Fund Expenses

Net Expense
Gross Expense
Contractual Cap
Waiver Exp. Date
0.70
0.70
N/A
N/A

Morningstar Rating

Category: Short Term Bond
3 stars 3 stars
512 funds
3 stars 3 stars
453 funds
3 stars 3 stars
292 funds
3 stars 3 stars
512 funds

Disclosures

Important disclosures regarding the Barron’s rankings:

Past performance is no guarantee of future results. Of all fund families that met the criteria, Principal Global Investors was ranked #5 out of 55 fund families for one year, #17 out of 52 for five years, and #6 out of 45 fund families for the ten years, all periods ended 12/31/2019. Performance data used for the rankings does not account for any up-front sales charges, contingent deferred sales charges or 12b-1 fees. If included, these rankings could be lower.

Barron's does not provide 5- and 10-year rankings for asset class categories.

How Barron’s Ranks the Fund Families
Calculation of returns does not take into account sales charges or 12b-1 fees or sales charges. Each fund’s performance is measured against all of the other funds in its Lipper category, with a percentile ranking of 100 being the highest and one the lowest. This result is then weighted by asset size, relative to the fund family’s other assets in its general classification. To be included in the ranking, a firm must have at least three funds in the general equity category, one world equity, one mixed equity (such as a balanced or target-date fund), two taxable bond funds, and one national tax-exempt bond fund. Single-sector and country equity funds are factored into the rankings as general equity. All passive index funds, including pure index, enhanced index, and index-based funds are excluded, but actively managed ETFs and smart-beta ETFs, which are passively managed but created from active strategies, are included. Finally, the score is multiplied by the weighting of its general classification, as determined by the entire Lipper universe of funds. The category weightings for the one-year results in 2019 were general equity, 35.4%; mixed asset, 21.1%; world equity, 17%; taxable bond, 21.8%; and tax-exempt bond, 4.6%. The category weightings for the five-year results were general equity, 36.9%; mixed asset, 19.7%; world equity, 17.2%; taxable bond, 21.7%; and tax-exempt bond, 4.6%. For the 10-year list, they were general equity, 37.6%; mixed asset, 20.1%; world equity, 17.5%; taxable bond, 20%; and tax-exempt bond, 4.7%.

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. © 2020 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.


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.


8 S&P 600 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.


9 S&P 400 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.


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.


17 On July 29, 2004 the directors of Principal Funds, Inc. Capital Preservation Fund, in anticipation of converting to a money market fund, declared an income dividend to shareholders of $.04 per share resulting in a one-time positive impact on investment performance figures.


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.


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.


26 The Investment Advisor will display "Multiple Sub-Advisors" for certain target-date, target-risk and specialty investment options where the assets are directed by the Investment Manager to multiple underlying investment options. These underlying investment options may use multiple sub-advisors who are responsible for the day-to-day management responsibilities.


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


36 Effective January 13, 2014, this portfolio is sub-advised by Baird and William Baird and William Blair. Prior to January 13, 2014, this portfolio was sub-advised by Turner and Jacobs Levy. 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.


38 Effective April 25, 2014, Emerald was added as an additional sub-advisor. Performance results displayed reflect all sub-advisors managing this portfolio during the time periods displayed.


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.


45 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, 2016, the weighted average operating expenses of the underlying funds are: Principal LifeTime Strategic Income, 0.58%; Principal LifeTime 2010, 0.63%; Principal LifeTime 2020, 0.68%; Principal LifeTime 2030, 0.71%; Principal LifeTime 2040, 0.73%; Principal LifeTime 2050, 0.75%; Principal LifeTime 2060, 0.75%. 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.


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.


49 Effective September 30, 2016, this portfolio is sub-advised by AB LP, Brown Advisory and Emerald Advisors, LLC. Prior to September 30, 2016, the portfolio was sub-advised by AB LP, Brown Advisory, Emerald Advisors, LLC. and Columbus Circle Investors. 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.


53 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%; Principal LifeTime 2060, 0.73%. 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.


57 Effective June 30, 2017, this portfolio is sub-advised by Robert Baird and Eagle Asset Management. Prior to June 30, 2017, the portfolio was sub-advised by Robert Baird and William Blair. 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.


59 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.


62 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%; Principal LifeTime 2060, 0.71%. 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.


63 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.


64 This Principal LifeTime Hybrid 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 Hybrid Funds outlined in the prospectus dated March 1, 2018, the weighted average operating expenses of the underlying funds are: Principal LifeTime Hybrid Income, 0.37%; Principal LifeTime Hybrid 2015, 0.38%; Principal LifeTime Hybrid 2020, 0.39%; Principal LifeTime Hybrid 2025, 0.39%; Principal LifeTime Hybrid 2030, 0.40%; Principal LifeTime Hybrid 2035, 0.41%; Principal LifeTime Hybrid 2040, 0.41%; Principal LifeTime Hybrid 2045, 0.42%; Principal LifeTime Hybrid 2050, 0.42%; Principal LifeTime Hybrid 2055, 0.43%; Principal LifeTime Hybrid 2060, 0.43%; Principal LifeTime Hybrid 2065, 0.42%. While the operating expenses of the underlying mutual funds are not part of the Principal LifeTime Hybrid Fund's operating expenses they are included in the Total Investment Expense. Performance results shown for the Principal LifeTime Hybrid Fund reflect the application of these expenses.


65 Effective June 29, 2018, this portfolio is sub-advised by Vaughn Nelson, LA Capital and Hotchkis & Wiley. Prior to June 29, 2018, the portfolio was sub-advised by DFA, Vaughn Nelson 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.


69 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, 2019, the weighted average operating expenses of the underlying funds are: Principal LifeTime Strategic Income, 0.62%; Principal LifeTime 2010, 0.63%; Principal LifeTime 2020, 0.63%; Principal LifeTime 2030, 0.70%; Principal LifeTime 2040, 0.67%; Principal LifeTime 2050, 0.69%; Principal LifeTime 2060, 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.


70 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.


72 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.


75 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, 0.68%; Principal LifeTime 2040, 0.64%; Principal LifeTime 2050, 0.67%; Principal LifeTime 2060, 0.68%. 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.


76 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.