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Investment Type: pifretail

Capital Appreciation Fund (A) (CMNWX)

Quick Facts Ticker: CMNWX Inception Date: 11/24/1986 Morningstar Category: Large Blend Total Net Assets (mil): $5,184.67	Investment Strategy    What's this? The investment seeks to provide long-term growth of capital. The fund invests primarily in equity securities of companies with any market capitalization, but it has a greater exposure to large market capitalization companies than small or medium market capitalization companies. The managers seek to invest in securities of businesses that they believe are trading at a discount to their private market value (i.e., the value of the business if it was sold), have a competitive advantage, and/or that have barriers to entry in their respective industries.
Morningstar Style Box™   as of 09/30/2025    What's this?	Overall Morningstar Star Rating™   as of 10/31/2025    What's this? Out of 1223 Large Blend 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 10/31/2025

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Excluding Sales Charge % 2.10 7.87 14.29 18.18 21.76 16.90 14.18 12.81 Including Sales Charge % -3.52 1.93 8.00 11.68 19.48 15.58 13.53 12.64 Russell 1000 Index % 2.16 7.92 17.07 21.14 22.34 17.05 14.39 --- Large Blend Category % 1.57 6.73 14.85 17.61 19.75 15.77 13.04 --- Morningstar Percentile Rankings** --- --- --- 56 41 38 28 --- # of Funds in Category 1398 1377 1337 1326 1223 1134 881 ---

* Inception Date: 11/24/1986

**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 10/31/2025 Total Investment Expense - Gross: 0.74% Total Investment Expense - Net: 0.74% Maximum Up-front Sales Charge: 5.50% Contingent Deferred Sales Charge: 1.00% 12b-1 Fee: 0.25%

Inv Manager or Sub-Advisor

   What's this?

Principal Global Investors

Portfolio Managers

   What's this?

Daniel R. Coleman Since 05/19/2010 M.B.A. , New York University

Theodore Jayne , CFA Since 09/30/2015 B.A. , Harvard University

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