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Investment Type: pifretail

Government & High Quality Bond Fund (A) (CMPGX)

Class A | Class J | Class I

Quick Facts

Intermediate Government

Investment Strategy

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The investment seeks a high level of current income consistent with safety and liquidity. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in debt securities issued by the U.S. government, its agencies or instrumentalities or debt securities that are rated, at the time of purchase, AAA by S&P Global or Aaa by Moody's, including but not limited to ABS, mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage-backed securities.

Morningstar Style Box™

  as of 07/31/2023
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Investment Style
Stylebox Market Capitalization

Overall Morningstar Star Rating™

  as of 08/31/2023
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Out of 225 Intermediate Government 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.

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 08/31/2023
1 Month3 MonthYTD1 Year3 Year5 Year10 YearSince     
Excluding Sales Charge % -0.91 -1.70 0.34 -3.00 -4.69 -0.96 0.34 5.09
Including Sales Charge % -3.10 -3.95 -1.88 -5.16 -5.39 -1.41 0.11 4.97
Bloomberg US Agency Fixed Rate MBS Index % -0.82 -1.32 0.95 -2.10 -4.09 -0.25 1.09 ---
Intermediate Government Category % -0.52 -1.27 1.02 -2.09 -4.24 -0.09 0.73 ---
Morningstar Percentile Rankings** --- --- --- 84 68 92 83 ---
# of Funds in Category 239 239 237 233 225 215 175 ---
**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.


  as of 08/31/2023
Total Investment Expense - Gross: 0.79%
Total Investment Expense - Net: 0.79%
Maximum Up-front Sales Charge: 2.25%
Contingent Deferred Sales Charge: 1.00%
12b-1 Fee: 0.15%



30-Day SEC Yield - Subsidized (Net)
as of 08/31/2023:
30-Day SEC Yield - Non-Subsidized (Gross)
as of 08/31/2023:

Inv Manager or Sub-Advisor

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Principal Global Investors

Portfolio Managers

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Zach Gassmann , CFA
Since 10/17/2019
M.A. , Drake University

Bryan C. Davis , CFA
Since 10/17/2019
B.S. , University of Iowa

2023 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 Government & High Quality Bond 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, 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 US Agency Fixed Rate MBS Index covers the fixed-rate mortgage-backed pass-through securities issued by GinnieMae (GNMA), Fannie Mae (FNMA), and Freddie Mae (FHLMC).

For Government High Quality Bond Fund (A) the Distributor has voluntarily agreed to waive .10% which limits the investment option's 12b-1 fees to .15%. These limits apply now but may be terminated at any time.

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.