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Investment Type: pif

Dynamic Floating Rate High Income Inst Fund (PDYIX)

Quick Facts

Bank Loan

Investment Strategy

   What's this?
The investment seeks to provide a high level of current income. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in floating rate debt securities, including bank loans and corporate bonds, and other investment companies that provide investment exposure to such floating rate securities. Floating interest rates vary with and are periodically adjusted to reflect changes in a generally recognized base interest rate such as LIBOR (London Interbank Offered Rate) or the prime rate.

Morningstar Style Box™

  as of 10/31/2018
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Data Not Available

Overall Morningstar Star Rating™

  as of 11/30/2018
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Out of 212 Bank Loan Funds


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

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.

Month-End | Quarter-End
Average Annual Total Returns as of 11/30/2018
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Total Return % 0.15 0.79 3.74 4.12 5.65 --- --- 3.04
Standard & Poor's/LSTA Leveraged Loan 100 Index % -1.10 -0.61 2.62 2.95 5.11 3.00 8.39 ---
Bank Loan Category % -0.85 -0.46 2.15 2.51 4.43 2.88 7.12 ---
Morningstar Percentile Rankings** --- --- --- 1 10 --- --- ---
# of Funds in Category 253 252 244 241 212 197 82 ---
**Morningstar percentile rankings are based on total returns.


  as of 11/30/2018
Total Investment Expense - Gross: 1.42%
Total Investment Expense - Net: 0.77%
Waiver Date: 12/30/2019
Contractual Cap Date: 12/30/2019
Total Investment Expense Gross Per $1,000 Invested: $14.20



30-Day SEC Yield - Subsidized (Net)
as of 08/31/2018:
30-Day SEC Yield - Non-Subsidized (Gross)
as of 08/31/2018:

Inv Manager or Sub-Advisor

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Principal Global Investors

Portfolio Managers

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Jason Hahn , CFA
Since 09/10/2014
M.B.A. , University of Iowa

Joshua Rank , CFA
Since 09/10/2014
B.A. , Iowa State University

Mark P. Denkinger , CFA
Since 09/10/2014
M.B.A. , University of Iowa

Darrin E. Smith , CFA
Since 09/10/2014
M.B.A. , Drake University

© 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.

Returns shown for periods of less than one year are not annualized.

Insurance products and plan administrative services, if applicable, are provided by Principal Life Insurance Company. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker/dealers. Securities sold by a Principal Securities Registered Representative are offered through Principal Securities. Principal Funds Distributor, Principal Securities and Principal Life are members of the Principal Financial Group®, Des Moines, IA 50392. Certain investment options may not be available in all states or U.S. commonwealths.

The full name of this investment option is Principal Funds, Inc. - Principal Dynamic Floating Rate High Income Inst Fund.

Investors should carefully consider a mutual fund's investment objectives, risks, charges, and expenses prior to investing. A prospectus, or summary prospectus if available, containing this and other information can be obtained by contacting a financial professional, visiting, or calling 1-800-547-7754. Read the prospectus carefully before investing.

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.

Bank loans may be subject to settlement risk. If in default, there is no assurance that secured collateral could be liquidated to satisfy the borrower's obligation.

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.

Formerly known as Dynamic High Yield Explorer Fund.

Effective August 10, 2018, the Principal Dynamic Floating Rate High Income Fund closed to certain new investors. Please see the prospectus for more complete information.