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Investment Type: pifretail

Global Real Estate Securities Fund (A) (POSAX)

Quick Facts Ticker: POSAX Inception Date: 10/01/2007 Morningstar Category: Global Real Estate Total Net Assets (mil): $3,347.98	Investment Strategy    What's this? The investment seeks to generate a total return. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of U.S. and non-U.S. companies principally engaged in the real estate industry at the time of purchase. For the fund's investment policies, a real estate company has at least 50% of its assets, income or profits derived from products or services related to the real estate industry.
Morningstar Style Box™   as of 10/31/2019    What's this?	Overall Morningstar Star Rating™   as of 11/30/2019    What's this? Out of 203 Global Real Estate 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 11/30/2019

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Excluding Sales Charge % -0.79 4.23 24.10 17.62 12.05 6.83 10.01 4.13 Including Sales Charge % -6.26 -1.53 17.28 11.15 9.95 5.63 9.39 3.65 FTSE EPRA/NAREIT Developed Index NR % -1.22 3.63 21.31 14.56 9.14 5.53 8.70 --- Global Real Estate Category % -0.63 4.52 21.85 16.03 10.00 5.62 8.22 --- Morningstar Percentile Rankings** --- --- --- 32 15 22 11 --- # of Funds in Category 230 229 229 229 203 165 114 ---

* Inception Date: 10/01/2007

**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 11/30/2019 Total Investment Expense - Gross: 1.31% Total Investment Expense - Net: 1.31% 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 Real Estate Inv

Portfolio Managers

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Simon Hedger Since 10/01/2007 M.B.A. , University of New England

Kelly D. Rush , CFA Since 10/01/2007 M.B.A. , University of Iowa

Anthony Kenkel , CFA Since 09/16/2010 M.B.A. , University of Chicago

© 2019 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 Global Real Estate 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

FTSE EPRA/NAREIT Developed Index NR is designed to represent general trends in eligible real estate equities worldwide. International and global investment options are subject to additional risk due to fluctuating exchange rates, foreign accounting and financial policies, and other economic and political environments. Real Estate investment options are subject to investment and liquidity risk and other risks inherent in real estate such as those associated with general and local economic conditions. Property values can decline due to environmental and other reasons. In addition, fluctuation in interest rates can negatively impact the performance of real estate investment options. 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.