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Investment Type: separateaccount

Diversified Real Asset Separate Account-R6

Quick Facts Inception Date: 12/31/2010 Extended Performance Inception Date: 03/16/2010 Morningstar Category: Global Moderate Allocation Total Net Assets (mil): $2,473.82	Investment Strategy    What's this? The investment seeks a long-term total return in excess of inflation. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in investments related to real assets and real asset companies. It allocates its assets among general investment categories related to real assets, which include tangible assets and investments that are expected to perform well in periods of rising or high inflation, such as the following: infrastructure, natural resources, commodities, real estate, inflation-indexed bonds, and floating rate debt.
Morningstar Style Box™   as of 04/30/2025    What's this?	Overall Morningstar Star Rating™   as of 05/31/2025    What's this? Out of 454 Global Moderate Allocation 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

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.

In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the fund. Performance when shown reflects the application of net expenses of the fund.

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 05/31/2025

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Total Return % 2.17 2.78 5.43 5.23 0.24 7.73 3.15 4.13 Diversified Real Asset Index (Linked) % 2.18 3.30 7.18 8.74 1.84 8.18 4.21 --- Global Moderate Allocation Category % 3.08 1.54 4.54 8.60 6.44 7.87 5.20 --- Morningstar Percentile Rankings** --- --- --- 94 99 44 97 --- # of Funds in Category 463 463 463 461 454 426 324 ---

* Inception Date: 12/31/2010 ; Extended Performance Inception Date: 03/16/2010

**Morningstar percentile rankings are based on total returns.

Expenses   as of 05/31/2025 Total Investment Expense - Gross: 0.96% Total Investment Expense - Net: 0.96% Contractual Cap Date: 12/30/2025 Total Investment Expense Gross Per $1,000 Invested: $9.60

Inv Manager or Sub-Advisor

   What's this?

BlackRock Financial Mgmt, Inc.

Principal Real Estate Inv

Macquarie

Pictet

Principal Global Investors

Nuveen Asset Management

ClearBridge Investments

Newton Investment Management

Impax Asset Management

Wellington Management Company

CoreCommodity Management LLC

Portfolio Managers

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Benjamin E. Rotenberg , CFA , CAIA Since 03/07/2014 B.A. , Pomona College

Jessica S. Bush , CFA Since 03/07/2014 B.A. , University of Michigan

May Tong , CFA Since 05/10/2021 B.A./B.S. , Boston College

© 2025 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. 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. Some Separate Accounts are considered sub-advised investment options, while others are not. All Separate Accounts are available through a group annuity contract with the Principal Life Insurance Company®. Insurance products and plan administrative services are provided through Principal Life, a member of the Principal Financial Group®, Des Moines, IA 50392. See the fact sheets for the full names of the Separate Accounts. Certain investment options may not be available in all states or U.S. commonwealths. Principal Life 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. If you elect to allocate funds to a Separate Account, you may not be able to immediately withdraw them. 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 Separate Account investment option, Total Investment Expense gross equals the sum of these expenses: (a)the amount of money, expressed as a percentage, deducted for the costs of managing a separate account where applicable, fees for plan administrative services and agent compensation, plus (b) if the separate account invests in an underlying mutual fund, the total fund operating expenses of the underlying mutual fund, plus (c) if an underlying mutual funds 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 an underlying mutual fund's allocation of assets to other mutual funds changes. Principal Diversified Real Asset investment option is available as a mutual fund and as a Separate Account that invests wholly in R6 class shares of the Principal Funds, Inc. Diversified Real Asset R6 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 (PDARX) at https://www.principalam.com/us/fund/PDARX 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. 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. or any other government entity. Concentrating investments in natural resources industries can be affected significantly by events relating to those industries, such as variations in the commodities markets, weather, disease, embargoes, international, political and economic developments, the success of exploration projects, tax and other government regulations and other factors. Investment in derivatives entails specific risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. REIT securities are subject to risk factors associated with the real estate industry and tax factors of REIT registration. 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. Infrastructure companies are subject to risk factors including high interest costs, regulation costs, economic slowdown, and energy conservation policies. REITs are subject to declines in real estate values, risks to physical property, and instability/creditworthiness of management. Investment in natural resource industries and commodity related derivatives can be affected by political/economic developments, market shocks/natural disasters, and other factors. TIPS are subject to interest rate risk and may be unsuccessful at mitigating inflation. Investment manager/sub-advisor means either the Investment Advisor or Sub-Advisor to the investment option or the underlying asset(s). Principal Life Insurance Company is the Investment Manager as defined by ERISA, with regard to the assets of some Separate Accounts. Refer to the factsheet for more information. 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.