LargeCap Value III R3 Fund (PPSFX)

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.

In situations where the net and gross total investment expense figures are different, the mutual fund or the underlying fund in which a Separate Account invests has waived/capped a portion of its management fees through the date displayed in the waiver expiration date or contractual cap expiration date column. Differences may also be shown due to the fund family choosing to pay certain expenses that would normally be payable by the fund. Returns displayed are based on net total investment expense.

Month-End | Quarter-End

Average Annual Total Returns as of 03/31/2024

	1 Month	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception*
Total Return %	4.61	8.59	8.59	20.45	7.88	10.15	8.79	6.74
Russell 1000 Value Index %	5.00	8.99	8.99	20.27	8.11	10.32	9.01	---
Large Value Category %	5.04	8.83	8.83	20.70	8.87	10.89	9.09	---
Morningstar Percentile Rankings**	---	---	---	51	72	67	60	---
# of Funds in Category	1243	1241	1241	1204	1118	1058	816	---

* Inception Date: 12/06/2000

**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.

Calendar Year Total Returns


	2023	2022	2021	2020	2019
Total Return %	9.39	-5.61	23.63	2.69	25.72
Russell 1000 Value Index %	11.46	-7.54	25.16	2.80	26.54
Large Value Category % ⁺	11.63	-5.90	26.22	2.91	25.04
Morningstar Percentile Rankings^**,+	65	48	76	48	45
Morningstar Equity Stylebox
# of Funds in Category⁺	1217	1229	1207	1200	1209

⁺ Data displayed is the most current information available.

**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 03/31/2024

Total Investment Expense - Gross:	1.34%
Total Investment Expense - Net:	1.27%
Waiver Date:	02/28/2025
12b-1 Fee:	0.25%

Distribution History

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$ Per Share

Income dividends are paid annual.

Daily Unit Value/Share Price Chart

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Returns shown for periods of less than one year are not annualized.

Insurance products and plan administrative services, if applicable, are provided by Principal Life Insurance Company. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker/dealers. Securities sold by a Principal Securities Registered Representative are offered through Principal Securities. Principal Funds Distributor, Principal Securities and Principal Life are members of the Principal Financial Group�, Des Moines, IA 50392. Certain investment options may not be available in all states or U.S. commonwealths.

The full name of this investment option is Principal Funds, Inc. - Principal LargeCap Value III R3 Fund.

Investors should carefully consider a mutual 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 principal.com, or calling 1-800-547-7754. Read the prospectus carefully before investing.

Not FDIC Insured
May Lose Value - Not a Deposit - No Bank Guarantee
Not Insured by any Federal Government Agency

Russell 1000 Value Index is a market-capitalization weighted index of those firms in the Russell 1000 with lower price-to-book ratios and lower forecasted growth values.

The manager of the Fund, Principal Global Investors, invests between 10% and 40% of the Fund's assets in common stocks in an attempt to match or exceed the performance of the Fund's benchmark index for performance.