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Investment Type: pifretail

MidCap Fund (A) (PEMGX)

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 % 3.12 5.50 40.62 28.44 18.05 12.75 15.94 10.85 Including Sales Charge % -2.54 -0.32 32.86 21.39 15.84 11.48 15.28 10.52 Russell Midcap Index % 3.57 6.72 27.61 14.96 11.63 8.88 13.56 --- Mid Cap Growth Category % 4.95 5.01 30.43 17.56 15.09 10.09 13.24 --- Morningstar Percentile Rankings** --- --- --- 1 23 15 6 --- # of Funds in Category 633 632 618 617 558 495 384 ---

* Inception Date: 06/28/2005 ; Extended Performance 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

2018 2017 2016 2015 2014 Excluding Sales Charge % -6.93 24.93 9.93 1.13 12.33 Including Sales Charge % -12.06 18.04 3.86 -4.44 6.14 Russell Midcap Index % -9.06 18.52 13.80 -2.44 13.22 Mid Cap Growth Category % + -6.65 23.91 6.03 -0.95 7.00 Morningstar Percentile Rankings**,+ 58 41 24 32 10 Morningstar Equity Stylebox # of Funds in Category+ 605 617 644 733 749

+ 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 11/30/2019 Total Investment Expense - Gross: 0.96% Total Investment Expense - Net: 0.96% Maximum Up-front Sales Charge: 5.50% Contingent Deferred Sales Charge: 1.00% 12b-1 Fee: 0.25%

Distribution History    What's this? $ Per Share Income dividends are paid annual.

Daily Unit Value/Share Price Chart

© 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 MidCap 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

Russell Midcap Index includes firms 201 through 1000, based on market capitalization, from the Russell 3000 Index. Small-cap and mid-cap investment options are subject to more fluctuation in value and may have additional risks than other investment options with stocks of larger, more stable companies. These calculated returns reflect the historical performance of the oldest share class of the fund, adjusted to reflect a portion of the fees and expenses of this share class. For time periods prior to inception date of the fund, predecessor performance is reflected. Please see the fund's prospectus for more information on specific expenses, and the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class. Small-cap and mid-cap stocks may have additional risks, including greater price volatility. Formerly known as MidCap Blend Fund. Effective June 14, 2013, the Principal MidCap Fund closed to certain new investors. Please see the prospectus for more complete information