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Investment Type: pifretail

Global Emerging Markets Fund (A) (PRIAX)

Quick Facts Ticker: PRIAX Inception Date: 06/28/2005 Extended Performance Inception Date: 12/06/2000 Morningstar Category: Diversified Emerging Mkts Total Net Assets (mil): $2,543.41	Investment Strategy    What's this? The investment seeks long-term growth of capital. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of emerging market companies. The fund's manager considers "emerging market" to mean any market that is considered to be an emerging market by the international financial community (including the MSCI Emerging Markets Index or Bloomberg Emerging Markets USD Aggregate Bond Index). It invests in equity securities regardless of market capitalization (small, medium or large) and style (growth or value).
Morningstar Style Box™   as of 03/31/2025    What's this?	Overall Morningstar Star Rating™   as of 04/30/2025    What's this? Out of 722 Diversified Emerging Mkts 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

Returns shown for periods of less than one year are not annualized. All returns displayed here are after Total Investment Expense of the investment option.

The Year-to-Date Change represents an unannualized rate of return (change in value) since the start of the year. All returns shown here are after the Total Investment Expense of the investment option.

In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the fund. Performance when shown reflects the application of net expenses of the fund.

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.

Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For more performance information, including the most recent month-end performance, visit principal.com.

Month-End | Quarter-End

Average Annual Total Returns as of 04/30/2025

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Excluding Sales Charge % -0.40 1.92 4.26 6.51 4.51 6.77 2.41 6.75 Including Sales Charge % -5.89 -3.69 -1.45 0.67 2.56 5.57 1.83 6.50 MSCI Emerging Markets NR Index % 1.31 2.45 4.28 9.02 3.85 6.35 3.07 --- Diversified Emerging Mkts Category % 1.39 1.77 3.15 6.63 4.39 7.11 3.09 --- Morningstar Percentile Rankings** --- --- --- 58 47 54 74 --- # of Funds in Category 802 797 795 777 722 639 440 ---

* Inception Date: 06/28/2005 ; Extended Performance Inception Date: 12/06/2000

**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 04/30/2025 Total Investment Expense - Gross: 1.56% Total Investment Expense - Net: 1.47% Contractual Cap Date: 02/28/2026 Maximum Up-front Sales Charge: 5.50% Contingent Deferred Sales Charge: 1.00% 12b-1 Fee: 0.25%

Inv Manager or Sub-Advisor

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Principal Global Investors

Portfolio Managers

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Jeffrey Kilkenny , CFA Since 01/10/2020 B.A./B.S. , University of Iowa

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