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Investment Type: pifretail

Opportunistic Municipal Fund (A) (PMOAX)






Class A | Class C | Class I

Quick Facts


PMOAX
06/14/2012
High Yield Muni
$111.71

Investment Strategy

   What's this?
The investment seeks to provide a high level of income that is exempt from federal income tax while protecting investors' capital. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in municipal obligations (securities issued by or on behalf of state or local governments and other public authorities). It invests in other debt obligations, including (but not limited to) taxable municipal obligations, U.S. Treasury securities, obligations of the U.S. government, its agencies and instrumentalities ("Agency Securities") and exchange-traded funds (ETFs) to gain exposure to the municipal market.




Morningstar Style Box™

  as of 10/31/2018
   What's this?
Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 11/30/2018
   What's this?

Out of 155 High Yield Muni 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.

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 11/30/2018
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Inception*
Excluding Sales Charge % 0.64 -1.00 0.23 1.69 3.72 6.14 --- 4.60
Including Sales Charge % -3.10 -4.69 -3.54 -2.09 2.42 5.34 --- 3.99
Bloomberg Barclays Municipal Bond Index % 1.11 -0.17 0.08 1.13 2.13 3.52 4.88 ---
High Yield Muni Category % 0.42 -1.14 1.27 2.39 3.44 5.44 6.87 ---
Morningstar Percentile Rankings** --- --- --- 50 39 27 --- ---
# of Funds in Category 193 191 183 183 155 127 80 ---
06/14/2012
**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 11/30/2018
Total Investment Expense - Gross: 0.95%
Total Investment Expense - Net: 0.95%
Waiver Date: 12/30/2019
Contractual Cap Date: 12/30/2019
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 11/30/2018:
3.94%
30-Day SEC Yield - Non-Subsidized (Gross)
as of 11/30/2018:
3.92%


Inv Manager or Sub-Advisor

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Principal Global Investors



Portfolio Managers

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James Noble
Since 06/14/2012
M.B.A. , Hofstra University

James Welch
Since 10/01/2014
B.A. , Pennsylvania State University






Morningstar
2018 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 Opportunistic Municipal Fund (A).

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

Bloomberg Barclays Municipal Bond Index represents the long-term, investment-grade tax-exempt bond market.

Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. A portion of the Fund's income may be subject to state and/or local taxes, and it may be subject to federal alternative minimum tax (AMT) for certain investors.

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.

Effective November 30, 2018, class C shares will be closed to new investors. Effective January 11, 2019, class C shares will be converted to the respective class A shares.