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Investment Type: pif

Short-Term Income R5 Fund (PSIQX)







Quick Facts


PSIQX
07/12/2010

11/01/1993
Short Term Bond
$3,126.38

Investment Strategy

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The investment seeks as high a level of current income as is consistent with prudent investment management and stability of principal. The fund invests primarily in high quality short-term bonds and other fixed-income securities that, at the time of purchase, are rated BBB- or higher by S&P Global or Baa3 or higher by Moody's. It maintains an effective maturity of five years or less and an average portfolio duration that is within 30% of the duration of the Bloomberg Credit 1-3 Year Index.




Morningstar Style Box™

  as of 08/31/2024
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Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 09/30/2024
   What's this?

Out of 522 Short Term Bond Funds

StarRating

Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.


Total Returns



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.

In situations where the net and gross total investment expense figures are different, the mutual fund or the underlying fund in which a Separate Account invests has waived/capped a portion of its management fees through the date displayed in the waiver expiration date or contractual cap expiration date column. Differences may also be shown due to the fund family choosing to pay certain expenses that would normally be payable by the fund. Returns displayed are based on net total investment expense.



Month-End | Quarter-End
Average Annual Total Returns as of 10/31/2024
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Inception*
Total Return % -0.60 1.09 4.16 7.17 1.81 1.73 1.85 3.38
Bloomberg Credit 1-3 Years Index % --- --- --- --- --- --- --- ---
Short Term Bond Category % --- --- --- --- --- --- --- ---
Morningstar Percentile Rankings** --- --- --- --- --- --- --- ---
# of Funds in Category --- --- --- --- --- --- --- ---
07/12/201011/01/1993
**Morningstar percentile rankings are based on total returns.


Expenses

  as of 10/31/2024
Total Investment Expense - Gross: 0.63%
Total Investment Expense - Net: 0.63%
Total Investment Expense Gross Per $1,000 Invested: $6.30

Statistics

 

30-Day SEC Yield - Subsidized (Net)
as of 09/30/2024:
3.90%
30-Day SEC Yield - Non-Subsidized (Gross)
as of 09/30/2024:
3.90%


Inv Manager or Sub-Advisor

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Principal Global Investors



Portfolio Managers

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Scott J. Peterson , CFA
Since 01/01/2010
M.B.A. , New York University

John R. Friedl , CFA
Since 05/19/2010
M.S. , Seattle University

Michael Goosay
Since 08/07/2023







Morningstar
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. All returns displayed here are after Total Investment Expense of the investment option.

Investment and Insurance products are:
* Not insured by the FDIC or Any Federal Government Agency
* Not a Deposit or Other Obligation of, or Guaranteed by Credit Union or Bank
* Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

Investment Options may charge a short-term trading or redemption fee to protect the interests of long-term Contractholders.

Principal® charges the investment provider an annual Principal® Platform Connectivity Program (Program) fee of $1,000 for those investment option(s) with this designation. This Program fee helps to pay for a number of expenses incurred in connection with maintaining and adding investments to its platform, including but not limited to, expenses for IT systems, IT employees and required legal and compliance services. The investment provider will pay the Program fee for these investment options.

Investing involves risk, including possible loss of principal.

The Year-to-Date Change represents an unannualized rate of return (change in value) since the start of the year. All returns shown here are after the Total Investment Expense of the investment option.

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.

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.

Various mutual funds may have different types of fees disclosed in their prospectus, including sales loads (sales charge), exchange fees, account fees and purchase fees. The mutual funds made available by Principal Life Insurance Company for retirement plans through the Mutual Fund Network typically have many of these fees waived. Please review the Prospectus of the particular mutual fund, including the Statement of Additional Information, for a full understanding of the fees imposed by that mutual fund. Be sure to pay attention to the specific share class made available under the retirement plan because different share classes may have vastly different fee structures and schedules.

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.

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.

This Bloomberg Credit 1-3 Years Index measures the performance of the investment grade, US dollar-denominated, fixed-rate, taxable corporate and government related bond markets with the maturities of 1 to 3 years. It is composed of the US Corporate Index and a non-corporate component that includes foreign agencies, sovereigns, supra nationals and local authorities. For each index, Barclays maintains two universes of securities: the Returns (Backward) and Statistics (Forward) Universes. The composition of the Returns Universe is rebalanced at each month-end and represents the fixed set of bonds on which index returns are calculated for the next month. The Statistics Universe is a forward-looking projection that changes daily to reflect issues dropping out of and entering the index but is not used for return calculations. On the last business day of the month (the rebalancing date), the composition of the latest Statistics Universe becomes the Returns Universe for the following month.

Citigroup Broad Investment Grade Credit 1-3 Years Index is an unmanaged index of bonds designed to track the performance of bonds issued in the US investment-grade bond market which have maturities 1-3 years.