Equity Income Fund (C) (PEUCX)

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 04/30/2025

	1 Month	3 Month	YTD	1 Year	3 Year	5 Year	10 Year	Since Inception*
Excluding Sales Charge %	-3.08	-7.34	-2.73	7.54	6.13	10.99	7.97	8.12
Including Sales Charge %	-4.05	-8.26	-3.70	6.56	6.13	10.99	7.97	8.12
Russell 1000 Value Index %	-3.05	-5.36	-0.98	8.55	7.61	13.00	8.36	---
Large Value Category %	-3.12	-5.41	-1.69	7.57	7.72	13.36	8.45	---
Morningstar Percentile Rankings**	---	---	---	52	76	87	71	---
# of Funds in Category	1175	1174	1172	1151	1089	1027	814	---

* Inception Date: 03/01/2002 ; Extended Performance Inception Date: 05/31/1939

**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


	2024	2023	2022	2021	2020
Excluding Sales Charge %	14.21	9.89	-11.49	20.96	5.40
Including Sales Charge %	13.21	8.89	-12.34	19.96	4.40
Russell 1000 Value Index %	14.37	11.46	-7.54	25.16	2.80
Large Value Category % ⁺	14.28	11.63	-5.90	26.22	2.91
Morningstar Percentile Rankings^**,+	54	61	89	90	31
Morningstar Equity Stylebox
# of Funds in Category⁺	1170	1217	1229	1207	1200

⁺ 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 04/30/2025

Total Investment Expense - Gross:	1.62%
Total Investment Expense - Net:	1.62%
Contingent Deferred Sales Charge:	1.00%
12b-1 Fee:	1.00%

Distribution History

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$ Per Share

Income dividends are paid quarterly.

Daily Unit Value/Share Price Chart

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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.