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Investment Type: pif

Inflation Protection R4 Fund (PIFSX)

Quick Facts

Inflation-Protected Bond

Investment Strategy

   What's this?
The investment seeks to provide current income and real (after inflation) total returns. The fund invests primarily in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and U.S. and non-U.S. corporations. It normally maintains an average portfolio duration that is within 20% of the duration of the Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index. The fund also invests in foreign securities, U.S. Treasuries and agency securities. It actively trades portfolio securities.

Morningstar Style Box™

  as of 09/30/2015
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Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 10/31/2015
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Out of 200 Inflation-Protected Bond 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 10/31/2015
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Total Return % 0.24 -1.56 -1.56 -2.62 -2.66 1.32 0.89 0.93
Barclays US Treas TIPS Index % 0.25 -1.10 -0.55 -1.42 -2.03 2.06 4.17 ---
Inflation-Protected Bond Category % 0.48 -1.34 -1.25 -2.61 -2.50 1.17 3.25 ---
Morningstar Percentile Rankings** --- --- --- 63 55 43 96 ---
# of Funds in Category 253 252 228 226 200 174 104 ---
**Morningstar percentile rankings are based on total returns.


  as of 10/31/2015
Total Investment Expense - Gross: 0.78%
Total Investment Expense - Net: 0.78%
12b-1 Fee: 0.10%
Total Investment Expense Gross Per $1,000 Invested: $7.80



30-Day SEC Yield - Subsidized (Net)
as of 10/31/2015:
30-Day SEC Yield - Non-Subsidized (Gross)
as of 10/31/2015:
Certain components of the fund's current yield are adjusted monthly based on changes in the rate of inflation. This can cause the yield to vary from one month to the next and may not be repeated.

Growth of $10,000

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Performance assumes reinvestment of all dividends and capital gains. Extended performance is calculated based on the historical performance of the investment option's oldest share class, adjusted for the fees and expenses of the share class shown. Periods of less than one year are not annualized.

Inv Manager or Sub-Advisor

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BlackRock Financial Mgmt, Inc.

Portfolio Managers

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Martin Hegarty
Since 12/31/2010
B.S. , Rhodes University

Gargi Pal Chaudhuri
Since 03/14/2014
B.A. , Ohio Wesleyan University

© 2015 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 Princor Financial Services Corporation, 800-547-7754, member SIPC and/or independent broker/dealers. Securities sold by a Princor® Registered Representative are offered through Princor. Principal Funds Distributor, Princor 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 Inflation Protection R4 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.

Barclays US Treas TIPS Index consists of inflation-protected securities issued by the U.S. Treasury.

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.

Effective December 31, 2008, this portfolio is sub-advised by BlackRock Financial Management, Inc. Prior to December 31, 2008, the portfolio was sub-advised by Principal Global Investors.