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Investment Type: pifretail

Preferred Securities Fund (A) (PPSAX)






Class A | Class C | Class J | Class I

Quick Facts


PPSAX
06/28/2005

05/01/2002
Preferred Stock
$5,073.67

Investment Strategy

   What's this?
The investment seeks to provide current income. The fund invests at least 80% of its net assets, plus any borrowing for investment purposes, in preferred securities at the time of purchase. Preferred securities typically include preferred stock and various types of junior subordinated debt and trust preferred securities. It concentrates its investments (invests more than 25% of its net assets) in securities in the financial services (i.e., banking, insurance and commercial finance) industry.




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 51 Preferred Stock 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 % -1.45 -2.85 -3.59 -3.46 3.25 4.96 11.06 5.48
Including Sales Charge % -5.12 -6.48 -7.23 -7.08 1.94 4.16 10.63 5.24
ICE BofA Merrill Lynch U.S. All Capital Securities Index % -1.83 -3.82 -3.22 -3.05 3.61 5.48 --- ---
Preferred Stock Category % -2.19 -4.69 -3.98 -3.73 3.38 4.22 11.34 ---
Morningstar Percentile Rankings** --- --- --- 49 58 45 48 ---
# of Funds in Category 70 70 59 59 51 39 18 ---
06/28/200505/01/2002
**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: 1.06%
Total Investment Expense - Net: 1.06%
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:
4.80%
30-Day SEC Yield - Non-Subsidized (Gross)
as of 11/30/2018:
4.80%


Inv Manager or Sub-Advisor

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Spectrum



Portfolio Managers

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L. Phillip Jacoby
Since 05/01/2002
B.S. , Boston University

Mark A. Lieb
Since 07/01/2009
M.B.A. , University of Hartford

Fernando Diaz
Since 12/31/2010


Roberto Giangregorio
Since 12/31/2010
M.B.A. , Cornell University

Manu Krishnan , CFA
Since 12/31/2010
M.B.A. , Cornell University

Kevin Nugent
Since 12/01/2014
B.A. , Ohio Wesleyan 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 Preferred Securities 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

ICE BofA Merrill Lynch U.S. All Capital Securities Index represents the all capital securities market.

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. Risks of preferred securities differ from risks inherent in other investments. In particular, in a bankruptcy preferred securities are senior to common stock but subordinate to other corporate debt. Contingent capital securities (CoCos) may have substantially greater risk than other securities in times of financial stress. An issuer or regulators decision to write down, write off or convert a CoCo may result in complete loss on an investment.