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Investment Type: separateaccount

Core Plus Bond Separate Account-Z

Portfolio Composition

  as of 04/30/2021
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Asset Distribution
Asset TypeNetShortLong
U.S. Bonds 85.41% 0.0%   85.41%  
Non-U.S. Bonds 14.68% 0.0%   14.68%  
Convertibles 3.32% 0.0%   3.32%  
Preferred 0.22% 0.0%   0.22%  
U.S. Stocks 0.08% 0.0%   0.08%  
Cash -3.72% 9.45%   5.73%  

Top 10 Holdings

  as of 04/30/2021
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% of Net Assets
Federal National Mortgage Association 2.5% 3.68
SPDR(R) Blmbg Barclays High Yield Bd ETF 2.91
Government National Mortgage Association 2.5% 2.15
iShares iBoxx $ High Yield Corp Bd ETF 1.99
Federal National Mortgage Association 2% 1.42
United States Treasury Bonds 3% 1.38
Fnma Pass-Thru I 2% 1.22
Fnma Pass-Thru I 2% 1.14
United States Treasury Bills 0% 0.88
United States Treasury Bonds 4.5% 0.80
Total*: 17.57
*Values may exceed 100% if both long and short positions are included in the portfolio

View Full Portfolio Holdings

Morningstar Style Box™

  as of 04/30/2021
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Investment Style
Stylebox Market Capitalization

Credit Analysis

  as of 04/30/2021
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% Bonds
AAA 36.68
AA 1.47
A 11.21
BBB 27.16
BB 10.28
B 7.55
Below B 0.58
Not Rated 5.07


as of 04/30/2021
Average Eff Duration (yrs): 5.36
Average Eff Maturity (yrs):
Avg Weighted Coupon: 3.64
Avg Weighted Price: $106.28


  as of 04/30/2021
Turnover Ratio: 108.82%

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.

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 Core Plus Bond Separate Account-Z.

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

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.

Bloomberg Barclays Aggregate Bond Index represents securities that are domestic, taxable, and dollar denominated. The index covers the U.S. investment grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. These major sectors are subdivided into more specific indices that are calculated and reported on a regular basis.

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.

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.

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.