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Investment Type: pifretail

Small-MidCap Dividend Income Fund (C) (PMDDX)

Quick Facts Ticker: PMDDX Inception Date: 06/14/2012 Extended Performance Inception Date: 06/06/2011 Morningstar Category: Mid Cap Value Total Net Assets (mil): $1,236.88	Investment Strategy    What's this? The investment seeks to provide current income and long-term growth of income and capital. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in dividend-paying equity securities of companies with small-to-medium market capitalizations at the time of purchase. Its investments include the securities of foreign issuers and real estate investment trusts.
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 380 Mid Cap Value 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 % 5.20 8.08 8.08 24.69 8.12 8.18 7.46 9.17 Including Sales Charge % 4.20 7.08 7.08 23.69 8.12 8.18 7.46 9.17 Russell 2500 Value Index % 4.93 6.07 6.07 21.33 5.36 9.38 7.68 --- Mid Cap Value Category % 5.49 7.75 7.75 20.80 8.00 10.61 8.23 --- Morningstar Percentile Rankings** --- --- --- 26 49 88 77 --- # of Funds in Category 404 404 404 399 380 363 281 ---

* Inception Date: 06/14/2012 ; Extended Performance Inception Date: 06/06/2011

**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: 2.01% Total Investment Expense - Net: 1.87% Contractual Cap Date: 12/30/2024 Contingent Deferred Sales Charge: 1.00% 12b-1 Fee: 1.00%

Inv Manager or Sub-Advisor

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Principal Global Investors

Portfolio Managers

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Daniel R. Coleman Since 06/06/2011 M.B.A. , New York University

Sarah E. Radecki , CFA Since 09/28/2018 M.A. , University of California-Santa Barbara

Lauren Choi Since 12/31/2023 B.S. , Johns Hopkins University

© 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 Small-MidCap Dividend Income Fund (C). 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

Russell 2500 Value Index measures the performance of the small to mid-cap value segment of the U.S. equity universe. It includes those Russell 2500 Index companies with lower price-to-book ratios and lower forecasted growth values. Small-cap and mid-cap investment options are subject to more fluctuation in value and may have additional risks than other investment options with stocks of larger, more stable companies. 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. Small-cap and mid-cap stocks may have additional risks, including greater price volatility.