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Investment Type: pif

Principal LifeTime Hybrid 2020 Inst Fund (PHTTX)

Quick Facts Ticker: PHTTX Inception Date: 09/30/2014 Morningstar Category: Target-Date 2020 Total Net Assets (mil): $523.27	Investment Strategy    What's this? The investment seeks a total return consisting of long-term growth of capital and current income. The fund operates as a "target date fund" that invests according to an asset allocation strategy designed for investors having a retirement investment goal close to the year in 2020. It is a fund of funds that invests in underlying funds of Principal Funds, Inc. ("PFI"), with a majority of the fund's assets invested in index funds. Its underlying funds consist of domestic and foreign equity funds, fixed-income funds, real asset funds, and other funds that aim to offer diversification beyond traditional equity and fixed-income securities.
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 133 Target-Date 2020 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.

In situations where the net and gross total investment expense figures are different, the mutual fund or the underlying fund in which a Separate Account invests has waived/capped a portion of its management fees through the date displayed in the waiver expiration date or contractual cap expiration date column. Differences may also be shown due to the fund family choosing to pay certain expenses that would normally be payable by the fund. Returns displayed are based on net total investment expense.

The Principal LifeTime Hybrid portfolios, which are target date portfolios, invest in underlying Principal Funds. Each Principal LifeTime Hybrid portfolio is managed toward a particular target (retirement) date, or the approximate date the participant or investor starts withdrawing money. As each Principal LifeTime Hybrid portfolio approaches its target date, the investment mix becomes more conservative by increasing exposure to generally more conservative investment options and reducing exposure to typically more aggressive investment options. The asset allocation for each Principal LifeTime Hybrid portfolio is regularly re-adjusted within a time frame that extends 10 years beyond the target date, at which point it reaches its most conservative allocation. Principal LifeTime Hybrid portfolios assume the value of the investor's account will be withdrawn gradually during retirement. Neither the principal nor the underlying assets of the Principal LifeTime Hybrid portfolios are guaranteed at any time, including the target date. Investment risk remains at all times.

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* Total Return % 2.11 3.84 3.84 11.32 2.37 6.05 --- 5.74 S&P Target Date 2020 Index % 1.84 3.20 3.20 10.89 2.70 5.62 5.44 --- Target-Date 2020 Category % 1.98 3.36 3.36 10.66 1.94 5.41 5.24 --- Morningstar Percentile Rankings** --- --- --- 29 21 15 --- --- # of Funds in Category 149 148 148 138 133 124 67 ---

* Inception Date: 09/30/2014

**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: 0.42% Total Investment Expense - Net: 0.37% Contractual Cap Date: 02/28/2025

Inv Manager or Sub-Advisor

   What's this?

Principal Global Investors

Portfolio Managers

   What's this?

James W. Fennessey , CFA Since 09/30/2014 B.S. , Truman State University

Randy L. Welch Since 09/30/2014 M.B.A. , Drake University

Scott W. Smith Since 05/02/2017 B.S. , Iowa State 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. Returns shown for periods of less than one year are not annualized. Insurance products and plan administrative services, if applicable, are provided by Principal Life Insurance Company. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker/dealers. Securities sold by a Principal Securities Registered Representative are offered through Principal Securities. Principal Funds Distributor, Principal Securities and Principal Life are members of the Principal Financial Group®, Des Moines, IA 50392. Certain investment options may not be available in all states or U.S. commonwealths. The full name of this investment option is Principal Funds, Inc. - Principal LifeTime Hybrid 2020 Inst Fund. Investors should carefully consider a mutual 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 principal.com, or calling 1-800-547-7754. Read the prospectus carefully before investing. Not FDIC Insured May Lose Value - Not a Deposit - No Bank Guarantee Not Insured by any Federal Government Agency

S&P Target Date 2020 Index provides varying levels of exposure to equities and fixed income. Each target date allocation is created and retired according to a pre-determined schedule related to the respective target date. International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards. Equity investment options involve greater risk, including heightened volatility, than fixed-income investment options. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Asset allocation and diversification do not ensure a profit or protect against a loss. Additionally there is no guarantee this investment option will provide adequate income at or through retirement. The Investment Advisor will display "Multiple Sub-Advisors" for certain target-date, target-risk and specialty investment options where the assets are directed by the Investment Manager to multiple underlying investment options. These underlying investment options may use multiple sub-advisors who are responsible for the day-to-day management responsibilities. There is no guarantee that a target date investment will provide adequate income at or through retirement. A target date fund's (TDF) glidepath is typically set to align with a retirement age of 65, which maybe your plan's normal retirement date (NRD). If your plan's NRD/age is different, the plan may default you to a TDF based on the plans NRD/Age. Participants may choose a TDF that does not match the plan's intended retirement date but instead aligns more to their investment risk. Compare the different TDF's to see how the mix of investments shift based on the TDF glide path. Selecting a target date fund series is also authorizing any additional vintage which is launched by the investment provider for the series, and included in their associated materials, to be added to the plan after proper notification. Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure. Additional target date portfolios may be added to the Principal LifeTime portfolios series to accommodate plan participants with later normal retirement dates as they enter the workforce. Participants may also choose a portfolio with a target date that does not match the intended retirement date. Compare the different portfolios to see how the mix of investments might shift.