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Investment Type: separateaccount

Principal LifeTime 2045 Separate Account-R6

Portfolio Composition

  as of 01/31/2018
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Top 10 Holdings

  as of 01/31/2018
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% of Net Assets
Principal Large Cap S&P 500 Index Inst 13.32
Principal Diversified Intl Inst 11.83
Principal Overseas Instl 11.65
Principal LargeCap Growth I R6 10.79
Principal Large Cap Value III Inst 9.95
Principal Core Plus Bond Inst 5.96
Principal MidCap Growth III Inst 5.55
Principal MidCap Value III R6 5.29
Principal International Small CompanyR-6 3.80
Principal Blue Chip R-6 3.53
Total*: 81.66
*Values may exceed 100% if both long and short positions are included in the portfolio

View Full Portfolio Holdings

Morningstar Style Box™

  as of 01/31/2018
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Investment Style
Stylebox Market Capitalization
Investment Style
Stylebox Market Capitalization

Stock Sector Breakdown

  as of 01/31/2018
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% of Net Assets
Cyclical 40.91
Basic Materials 5.41
Consumer Cyclical 12.18
Financial Svcs 18.25
Real Estate 5.07
Defensive 19.89
Consumer Defensive 6.12
Healthcare 11.30
Utilities 2.47
Sensitive 39.22
Comm Svcs 3.47
Energy 6.11
Industrials 12.30
Technology 17.34


  as of 01/31/2018
Average Market Cap (mil): $38,704.02
Price/Earnings Ratio: 17.99
Price/Book Ratio: 2.31
Price/Cash Flow Ratio: 7.92
Turnover Ratio: 33.70%

2018 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 LifeTime 2045 Separate Account-R6. Principal LifeTime 2045 investment option is available as a mutual fund and as a Separate Account that invests wholly in Institutional class shares of the Principal Funds, Inc. LifeTime 2045 Inst 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 (LTRIX) at

Separate Accounts are available through a group annuity contract with Principal Life Insurance Company. 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. 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 inherent in real estate (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.

S&P Target Date 2045 Index provides varying levels of exposure to equities and fixed income. Each target date allocation is created and retired according to a pre-determined schedule related to the respective target date.

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.

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

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

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.

This Separate Account invests directly in the Institutional class shares of a Principal LifeTime Fund. The mutual fund operating expenses for each Principal LifeTime Fund are reflected in the Total Investment Expense of the Separate Accounts well as the operating expenses of the underlying funds in which the Principal LifeTime Fund invests. Based on the asset allocation of the Principal LifeTime Funds as 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 2015, 0.66%; Principal LifeTime 2020, 0.69%; Principal LifeTime 2025, 0.70%; Principal LifeTime 2030, 0.71%; Principal LifeTime 2035, 0.66%; Principal LifeTime 2040, 0.68%; Principal LifeTime 2045, 0.69%; Principal LifeTime 2050, 0.70%; Principal LifeTime 2055, 0.71%; Principal LifeTime 2060, 0.71%; Principal LifeTime 2065, 0.72%. For further information on all mutual fund expenses, see the prospectus of the underlying Principal LifeTime 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.

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.

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.