High Income Inst Fund (PYHIX)

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 %	1.30	1.69	1.69	10.73	2.13	3.50	3.49	5.89
Bloomberg US High Yld 2% Issuer Capped Index %	1.18	1.47	1.47	11.15	2.19	4.19	4.44	---
High Yield Bond Category %	1.13	1.67	1.67	10.40	2.07	3.76	3.60	---
Morningstar Percentile Rankings**	---	---	---	39	44	59	56	---
# of Funds in Category	678	678	678	666	606	575	432	---

* Inception Date: 12/29/2004

**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 %	13.02	-10.97	5.04	5.42	11.73
Bloomberg US High Yld 2% Issuer Capped Index %	13.44	-11.18	5.26	7.05	14.32
High Yield Bond Category % ⁺	12.08	-10.09	4.77	4.91	12.62
Morningstar Percentile Rankings^**,+	27	54	42	47	70
Morningstar Fixed Income Stylebox
# of Funds in Category⁺	670	682	678	676	711

⁺ 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:	0.63%
Total Investment Expense - Net:	0.61%
Waiver Date:	02/28/2025

Distribution History

What's this?

$ Per Share

03/25/2024	Income	0.046
02/26/2024	Income	0.0464
01/26/2024	Income	0.0451
12/27/2023	Income	0.0554
11/27/2023	Income	0.0517
10/26/2023	Income	0.0533
09/26/2023	Income	0.0506
08/28/2023	Income	0.0479
07/26/2023	Income	0.0476
06/27/2023	Income	0.0471
05/25/2023	Income	0.0461
04/25/2023	Income	0.0444
03/28/2023	Income	0.0443
02/23/2023	Income	0.0458
01/26/2023	Income	0.0452
12/28/2022	Income	0.0595
11/23/2022	Income	0.0556
10/26/2022	Income	0.0429
09/27/2022	Income	0.0455
08/26/2022	Income	0.043
07/26/2022	Income	0.0387
06/27/2022	Income	0.0408
05/25/2022	Income	0.0376
04/26/2022	Income	0.0374

Income dividends are paid annual.

Daily Unit Value/Share Price Chart

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� 2024 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.

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 High Income Inst 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

The Bloomberg US High Yld 2% Issuer Capped Index measures the performance of USD-denominated, non-investment grade, fixed-rate, taxable corporate bonds. It follows the same rules as the uncapped index but limits the exposure of each issuer to 2% of the total market value and redistributes any excess market value index-wide on a pro-rata basis.

High yield investment options are subject to greater credit risk and volatility that is associated with high yield bonds.

Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure.

Not all funds associated with the institutional class shares of the Principal Funds series are registered in every state. These funds will be appropriately registered for use upon selection for your retirement plan.

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.