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Investment Type: pifretail

Diversified Income Fund (A) (PGBAX)

Quick Facts Ticker: PGBAX Inception Date: 12/15/2008 Morningstar Category: Multisector Bond Total Net Assets (mil): $2,431.67	Investment Strategy    What's this? The investment seeks income. The fund generally invests a majority of its assets in fixed income securities, such as investment-grade corporate bonds, high yield bonds (also known as "junk" bonds), preferred securities, securitized products, and emerging market debt securities, in an effort to provide incremental yields over a portfolio of government securities. Such securities include instruments with variable or floating interest rates. The fixed income portion of the fund is not managed to a particular maturity or duration. The fund invests in foreign, including emerging market, securities.
Morningstar Style Box™   as of 04/30/2025    What's this?	Overall Morningstar Star Rating™   as of 05/31/2025    What's this? Out of 343 Multisector Bond 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 05/31/2025

1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since      Inception* Excluding Sales Charge % 0.55 -0.07 2.02 5.85 3.68 5.29 3.21 7.16 Including Sales Charge % -3.22 -3.84 -1.79 1.89 2.37 4.49 2.82 6.92 DI Blended Index (Linked) % -0.72 -0.29 2.45 5.46 1.49 0.97 2.22 --- Multisector Bond Category % 0.53 0.22 2.37 6.84 4.48 3.69 3.16 --- Morningstar Percentile Rankings** --- --- --- 78 76 14 49 --- # of Funds in Category 382 380 378 369 343 303 204 ---

* Inception Date: 12/15/2008

**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 05/31/2025 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 05/31/2025: 5.65% 30-Day SEC Yield - Non-Subsidized (Gross) as of 05/31/2025: 5.65%

Inv Manager or Sub-Advisor

   What's this?

Principal Global Investors

Principal Real Estate Inv

Spectrum

Post Advisory Group

Nuveen Asset Management

Polen Capital Credit, LLC.

Pine Bridge Investments

BlackRock Advisors, LLC

GMO

Portfolio Managers

   What's this?

Benjamin E. Rotenberg , CFA , CAIA Since 03/07/2014 B.A. , Pomona College

Jessica S. Bush , CFA Since 03/07/2014 B.A. , University of Michigan

May Tong , CFA Since 05/10/2021 B.A./B.S. , Boston College

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