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Investment Type: pifretail

Principal Spectrum Preferred and Capital Sec Income (A) Fd (PPSAX)

Quick Facts Ticker: PPSAX Inception Date: 06/28/2005 Extended Performance Inception Date: 05/01/2002 Morningstar Category: Preferred Stock Total Net Assets (mil): $6,092.11	Investment Strategy    What's this? The investment seeks to provide current income. The fund invests at least 80% of its net assets, plus any borrowing for investment purposes, in preferred securities and capital securities at the time of purchase. Preferred securities typically include preferred stock and various types of junior subordinated debt and trust preferred securities. It also invests up to 55% of its assets in below-investment-grade preferred securities and bonds (sometimes called "high yield bonds" or "junk bonds"), which are rated at the time of purchase Ba1 or lower by Moody's and BB+ or lower by S&P Global.
Morningstar Style Box™   as of 02/29/2024    What's this?	Overall Morningstar Star Rating™   as of 03/31/2024    What's this? Out of 65 Preferred Stock 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. Where gross and net expense ratios differ, the investment adviser has contractually agreed to limit the investment option's expenses. Differences also may be due to the investment adviser's decision to pay (through the same dates) certain expenses that would normally be payable by the fund.

Month-End | Quarter-End

Average Annual Total Returns as of 03/31/2024

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Excluding Sales Charge % 1.27 3.65 3.65 12.43 0.29 2.97 4.00 5.06 Including Sales Charge % -2.50 -0.27 -0.27 8.24 -0.99 2.18 3.60 4.88 ICE BofA U.S. All Capital Securities Index % 1.02 4.54 4.54 12.57 0.34 3.43 4.63 --- Preferred Stock Category % 0.88 3.89 3.89 13.21 0.36 3.00 3.86 --- Morningstar Percentile Rankings** --- --- --- 61 51 57 51 --- # of Funds in Category 73 73 73 73 65 59 37 ---

* Inception Date: 06/28/2005 ; Extended Performance Inception Date: 05/01/2002

**Morningstar percentile rankings are based on total returns and do not reflect the inclusion of sales charges. If sales charges were reflected, rankings could be lower.

Expenses   as of 03/31/2024 Total Investment Expense - Gross: 1.05% Total Investment Expense - Net: 1.05% Maximum Up-front Sales Charge: 3.75% Contingent Deferred Sales Charge: 1.00% 12b-1 Fee: 0.25%

Statistics   30-Day SEC Yield - Subsidized (Net) as of 03/31/2024: 4.83% 30-Day SEC Yield - Non-Subsidized (Gross) as of 03/31/2024: 4.83%

Inv Manager or Sub-Advisor

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Spectrum

Portfolio Managers

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L. Phillip Jacoby Since 05/01/2002 BSBA , Boston University

Mark Lieb Since 07/01/2009 M.B.A. , University of Hartford

Fernando Diaz Since 12/31/2010

Roberto Giangregorio Since 12/31/2010 M.B.A. , Cornell University

Manu Krishnan , CFA Since 12/31/2010 M.B.A. , Cornell University

Kevin Nugent Since 12/01/2014 B.A. , Ohio Wesleyan University

Satomi Yarnell Since 08/02/2021

© 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. The full name of this investment option is Principal Spectrum Preferred and Capital Sec Income (A) Fd. Investors should carefully consider a 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 principalfunds.com, or calling 800-222-5852. Read the prospectus carefully before investing. Principal Funds are distributed by Principal Funds Distributor, Inc. Not FDIC Insured May Lose Value - Not a Deposit - No Bank Guarantee Not Insured by any Federal Government Agency

ICE BofA U.S. All Capital Securities Index represents the all capital securities market. 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 investment options are subject to interest rate risk, and their value will decline as interest rates rise. Risks of preferred securities differ from risks inherent in other investments. In particular, in a bankruptcy preferred securities are senior to common stock but subordinate to other corporate debt. Contingent capital securities (CoCos) may have substantially greater risk than other securities in times of financial stress. An issuer or regulators decision to write down, write off or convert a CoCo may result in complete loss on an investment.