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Investment Type: separateaccount

High Yield Separate Account-Z







Portfolio Composition

  as of 03/31/2022
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Asset Distribution
Asset TypeNetShortLong
U.S. Bonds 79.88% 0.0%   79.88%  
Non-U.S. Bonds 16.74% 0.0%   16.74%  
Cash 2.28% 1.33%   3.6%  
U.S. Stocks 0.61% 0.0%   0.61%  
Convertibles 0.48% 0.0%   0.48%  
Non-U.S. Stocks 0.01% 0.0%   0.01%  
Total100%


Top 10 Holdings

  as of 03/31/2022
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% of Net Assets
Principal Government Money Market Instl 3.56
Voya Financial Inc 5.65% 1.26
ASURION LLC 0.89
AMERICAN AIRLINES 0.84
BAUSCH HEALTH VALEANT 0.80
SRM Escrow Issuer Llc 6% 0.80
Aethon United Br Lp / Aethon United Finance Corporation 8.25% 0.76
IRB HOLDING / ARBYS 0.76
NCR Corporation 5.125% 0.75
Community Health Systems Incorporated 6% 0.74
Total*: 11.17
*Values may exceed 100% if both long and short positions are included in the portfolio

View Full Portfolio Holdings

Morningstar Style Box™

  as of 03/31/2022
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Investment Style
Stylebox Market Capitalization

Credit Analysis

  as of 03/31/2022
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% Bonds
AAA 3.85
BBB 4.18
BB 33.94
B 45.00
Below B 12.59
Not Rated 0.43

Statistics

 
as of 03/31/2022
Average Eff Duration (yrs): 3.30
Average Eff Maturity (yrs): 4.96
Avg Weighted Coupon: 5.77
Avg Weighted Price: $99.82

Analysis

  as of 03/31/2022
Turnover Ratio: 63.00%
3
320
15
338





Morningstar
2022 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.

Past performance is no guarantee of future results. Investment options are subject to investment risk. Shares or unit values will fluctuate and investments, when redeemed, may be worth more or less than their original cost.

Portfolio holdings are subject to change and companies referenced in this report may not currently be held. Information is current as of the creation of this piece. Keep in mind that portfolio holdings are subject to risk. Click here for a complete list of the most recent publicly available holdings.

The full name of this investment option is Principal High Yield Separate Account-Z. Principal High Yield investment option is available as a mutual fund and as a Separate Account that invests wholly in R6 class shares of the Principal Funds, Inc. High Yield R6 Fund. All voting rights associated with ownership of shares in the mutual fund are the rights of the Separate Account, not of contract holders investing in the Separate Account. For further information on the underlying mutual fund, see the prospectus of the fund (PHYFX) at http://www.principal.com/retirement/prospectuses/prospect.htm http://www.principal-funds.com/Principal?site=MF

Separate Accounts are available through a group annuity contract with Principal Life Insurance Co. Insurance products and plan administrative services, if applicable, are provided by Principal Life Insurance Company, a member of the Principal Financial Group, Des Moines, IA 50392. See the fact sheet for the full name of the Separate Account. Certain investment options may not be available in all states or U.S. commonwealths. Principal Life Insurance Company reserves the right to defer payments or transfers from Principal Life Separate Accounts as described in the group annuity contracts providing access to the Separate Accounts or as required by applicable law. Such deferment will be based on factors that may include situations such as: unstable or disorderly financial markets; investment conditions which do not allow for orderly investment transactions; or investment, liquidity, and other risks (such as those associated with general and local economic conditions). If you elect to allocate funds to a Separate Account, you may not be able to immediately withdraw them.

Before directing retirement funds to a separate account, investors should carefully consider the investment objectives, risks, charges and expenses of the separate account as well as their individual risk tolerance, time horizon and goals. For additional information contact us at 1-800-547-7754 or by visiting principal.com.

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

Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions.  The cumulative effect of fees and expenses can substantially reduce the growth of a participant's or beneficiary's retirement account.  Participants and beneficiaries can visit the Employee Benefit Security Administration's website for an example demonstrating the long-term effect of fees and expenses.

The Bloomberg US High Yld 2% Issuer Capped Index measures the performance of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds. It follows the same rules as the uncapped index but limits the exposure of each issuer to 2% of the total market value and redistributes any excess market value index-wide on a pro-rata basis.

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.

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

Investment manager/sub-advisor means either the Investment Advisor or Sub-Advisor to the investment option or the underlying asset(s). Principal Life Insurance Company is the Investment Manager as defined by ERISA, with regard to the assets of the Separate Accounts. Principal Global Investors is a member of the Principal Financial Group.

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

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.