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Investment Type: pif

Diversified Real Asset R6 Fund (PDARX)

Quick Facts Ticker: PDARX Inception Date: 12/31/2014 Extended Performance Inception Date: 03/16/2010 Morningstar Category: Global Allocation Total Net Assets (mil): $3,324.76	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 02/29/2024    What's this?	Overall Morningstar Star Rating™   as of 03/31/2024    What's this? Out of 356 Global 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

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.

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 % 4.04 1.69 1.69 3.73 3.57 4.97 2.58 4.16 Diversified Real Asset Index (Linked) % 4.08 0.66 0.66 3.85 3.54 4.48 2.90 --- Global Allocation Category % 2.91 4.38 4.38 11.51 2.78 5.31 4.27 --- Morningstar Percentile Rankings** --- --- --- 94 37 59 88 --- # of Funds in Category 380 380 380 370 356 338 244 ---

* Inception Date: 12/31/2014 ; Extended Performance Inception Date: 03/16/2010

**Morningstar percentile rankings are based on total returns.

Expenses   as of 03/31/2024 Total Investment Expense - Gross: 0.78% Total Investment Expense - Net: 0.78% Contractual Cap Date: 12/30/2024 Total Investment Expense Gross Per $1,000 Invested: $7.80

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

© 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 Diversified Real Asset R6 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

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.

Effective January 1, 2022, the Diversified Real Asset Index (Linked) blend is 15% Bloomberg U.S. Treasury TIPS Index, 30% S&P Global Infrastructure Index, 15% S&P Global Natural Resources Index, 15% Bloomberg Commodity Index, and 25% FTSE EPRA/NAREIT Developed Markets Index. Prior to January 1, 2022, the blend consisted of 35% Bloomberg U.S. Treasury TIPS Index, 20% S&P Global Infrastructure Index, 20% S&P Global Natural Resources Index, 15% Bloomberg Commodity Index, and 10% FTSE EPRA/NAREIT Developed Markets Index. 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. 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. 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.