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Investment Type: separateaccount

High Income Separate Account-R6







Quick Facts


12/31/2004
High Yield Bond
$2,927.83

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") (if the bond or bank loan has been rated by only one of those agencies, that rating will determine whether it is below investment grade; if the bond or bank loan has not been rated by either of those agencies, those selecting such investments will determine whether it is of a quality comparable to those rated below investment grade).




Morningstar Style Box™

  as of 07/31/2020
   What's this?
Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 08/31/2020
   What's this?

Out of 623 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



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 08/31/2020
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Inception*
Total Return % 0.91 6.57 0.00 2.58 2.94 4.41 5.51 6.27
Bloomberg Barclays US Corp High Yld 2% Issuer Capped Index % 0.96 6.67 1.61 4.65 4.86 6.45 6.88 ---
High Yield Bond Category % 1.11 6.21 -0.12 2.60 3.46 4.91 5.70 ---
Morningstar Percentile Rankings** --- --- --- 59 74 73 68 ---
# of Funds in Category 705 702 688 683 623 535 346 ---
12/31/2004
**Morningstar percentile rankings are based on total returns.


Expenses

  as of 08/31/2020
Total Investment Expense - Gross: 0.79%
Total Investment Expense - Net: 0.77%
Waiver Date: 02/28/2022
Total Investment Expense Gross Per $1,000 Invested: $7.90




Inv Manager or Sub-Advisor

   What's this?
Mellon Investments Corp.

DDJ Capital Management, 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
2020 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.

The full name of this investment option is Principal High Income Separate Account-R6. Principal High Yield I 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. High Yield I 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 (PYHIX) at http://www.principal.com/retirement/prospectuses/prospect.htm http://www.principal-funds.com/Principal?site=MF

Separate Accounts are available through a group annuity contract with Principal Life Insurance Co. 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. See the fact sheet for the full name of the Separate Account. 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 (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.

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

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 principal.com.

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.

Bloomberg Barclays US Corp High Yld 2% Issuer Capped Index is an unmanaged index comprised of fixed rate, non-investment grade debt securities that are dollar denominated. The index limits the maximum exposure to any one issuer to 2%.

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

Investment manager/sub-advisor means either the Investment Advisor or Sub-Advisor to the investment option or the underlying asset(s).

Effective October 2, 2017, this portfolio is sub-advised by Neuberger Berman, Mellon and DDJ. Prior to October 2, 2017, the portfolio was sub-advised by JP Morgan and Neuberger Berman. The portfolio has had various sub-advisors since its inception. Performance results displayed reflect all sub-advisors managing this portfolio during the time periods displayed.

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.