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Investment Type: pif

High Income Inst Fund (PYHIX)







Quick Facts


PYHIX
12/29/2004
High Yield Bond
$598.45

Investment Strategy

   What's this?
The investment seeks high current income. Under normal circumstances, the fund invests primarily in below investment grade bonds and bank loans which are rated, at the time of purchase, Ba1 or lower by Moody's Investors Service, Inc. ("Moody's") and BB+ or lower by S&P Global Ratings ("S&P Global"). It also invests in investment grade bank loans (also known as senior floating rate interests) and securities of foreign issuers.




Morningstar Style Box™

  as of 09/30/2024
   What's this?
Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 10/31/2024
   What's this?

Out of 588 High Yield 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



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.

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.

Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values 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 data shown.

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.

Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For more performance information, including the most recent month-end performance, visit principal.com.



Month-End | Quarter-End
Average Annual Total Returns as of 11/30/2024
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Inception*
Total Return % 0.86 0.82 7.13 10.81 3.13 4.09 3.94 5.97
Bloomberg US High Yld 2% Issuer Capped Index % --- --- --- --- --- --- --- ---
High Yield Bond Category % --- --- --- --- --- --- --- ---
Morningstar Percentile Rankings** --- --- --- --- --- --- --- ---
# of Funds in Category --- --- --- --- --- --- --- ---
12/29/2004
**Morningstar percentile rankings are based on total returns.


Expenses

  as of 11/30/2024
Total Investment Expense - Gross: 0.63%
Total Investment Expense - Net: 0.61%
Waiver Date: 02/28/2025
Total Investment Expense Gross Per $1,000 Invested: $6.30

Statistics

 

30-Day SEC Yield - Subsidized (Net)
as of 10/31/2024:
6.89%
30-Day SEC Yield - Non-Subsidized (Gross)
as of 10/31/2024:
6.87%


Inv Manager or Sub-Advisor

   What's this?
Insight Investment

Polen Capital Credit, LLC.

Post Advisory Group



Portfolio Managers

   What's this?
James W. Fennessey , CFA
Since 07/19/2007
B.S. , Truman State University

Randy L. Welch
Since 07/19/2007
M.B.A. , Drake University






Morningstar
© 2024 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.

Carefully consider the Fund's objectives, risks, charges, and expenses. Contact your financial professional or visit principal.com for a prospectus, or summary prospectus if available, containing this and other information. Please read it carefully before investing. For information on this or other investment options, visit principal.com, or call 800-547-7754.

Sub-advised Investment Options include Principal Funds, Inc. mutual funds. Principal Funds, Inc is distributed by Principal Funds Distributor, Inc.

A mutual fund's share price and investment return will vary with market conditions, and the principal value of an investment when you sell your shares may be more or less than the original cost.

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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

For a Mutual Fund investment option, Total Investment Expense gross equals the sum of (a) the total fund operating expenses plus (b) if the mutual fund invests in other mutual funds, the weighted-average management fee of those other mutual funds, as listed in the most recent prospectus. The actual Total Investment Expense may change if the mutual fund investment option's allocation of assets to other mutual funds changes.

Any operating expenses of a mutual fund or underlying mutual fund that are part of net Total Investment Expense are obtained from the mutual fund's most recent prospectus. The operating expenses shown as part of net Total Investment Expense include voluntary expense limits and fee credit.

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.

Insurance products and plan administrative services provided through Principal Life Insurance Company®. Securities offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392. Certain investment options and contract riders may not be available in all states or U.S. commonwealths.

Investing involves risk, including possible loss of principal.

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.

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.

Investment option limits transfer activity. Once the number of allowed transfers is met, participants are not allowed to transfer back into an investment option which they have transferred out of until the holding period elapses. All participant investment transfers and non-scheduled rebalancing activity are counted toward the number of transfers allowed. Contributions into the investment option are not impacted. Participants may still transfer out to different investment options or to money market or Guaranteed options.

As a Featured Partner Investment Option, this fund may qualify a plan for discounted recordkeeping fees if a plan sponsor chooses to use it in a RetireView® model. The investment option is deemed by an independent 3(21) fiduciary as appropriate for use in a retirement plan through their proprietary screening process. The investment manager for this investment option is not paying an annual fee to Principal Life Insurance Company® to be included as a Featured Partner Investment Option.

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

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

Not all funds associated with the institutional class shares of the Principal Funds series are registered in every state. These funds will be appropriately registered for use upon selection for your retirement plan.

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.