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Investment Type: pifretail

High Yield Fund I (A) (PYHAX)






Class A | Class I

Quick Facts


PYHAX
03/01/2013

12/29/2004
High Yield Bond
$3,716.36

Investment Strategy

   What's this?
The investment seeks high current income. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in below investment grade bonds and bank loans (sometimes called "high yield" or "junk") which are rated at the time of purchase Ba1 or lower by Moody's and BB+ or lower by S&P Global. It also invests in investment grade bank loans (also known as senior floating rate interests), securities of foreign issuers, and exchange-traded funds ("ETFs").




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 607 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.

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 % -0.90 -2.08 -0.65 -0.27 5.18 2.94 10.25 6.16
Including Sales Charge % -4.63 -5.79 -4.34 -3.97 3.83 2.15 9.83 5.87
Bloomberg Barclays US Corp High Yld 2% Issuer Capped Index % -0.86 -1.90 0.06 0.36 7.09 4.40 12.14 ---
High Yield Bond Category % -0.83 -1.90 -0.57 -0.20 5.49 3.24 9.94 ---
Morningstar Percentile Rankings** --- --- --- 51 61 66 45 ---
# of Funds in Category 733 727 706 699 607 518 333 ---
03/01/201312/29/2004
**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: 1.53%
Total Investment Expense - Net: 1.06%
Waiver Date: 02/28/2019
Contractual Cap Date: 02/28/2019
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:
6.05%
30-Day SEC Yield - Non-Subsidized (Gross)
as of 11/30/2018:
5.61%


Inv Manager or Sub-Advisor

   What's this?
Neuberger Berman Fixed Inc LLC

Mellon Capital Mgmt

DDJ Capital Management, LLC



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
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 High Yield Fund I (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 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%.

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.

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

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.