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Investment Type: pifretail

Opportunistic Municipal Fund (A) (PMOAX)

Risk and Return Statistics   as of 03/31/2024 Relative to Bloomberg Municipal Index Stat3 Year5 Year Alpha -0.15 0.39 Beta 1.14 1.33 R-squared 90.42 80.93 Standard Deviation 8.85 9.51 Mean -1.10 1.61 Sharpe Ratio -0.42 -0.01 Excess Return -0.69 0.01 Tracking Error 2.88 4.65 Information Ratio -0.24 0.00 Inception Date: 06/14/2012 Risk and return statistical data is calculated by Morningstar, Inc. Excess Return is calculated by Principal Life Insurance Company.

Morningstar Star Rating™   as of 03/31/2024    What's this? Rating # Funds 3 Year 185 5 Year 176 10 Year 118 Overall 185 Morningstar Category:High Yield Muni 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.

Alpha- The difference between an investment's actual returns and its expected performance, given its level of risk (as measured by beta).

Beta- An investment's sensitivity to market movements.

R-Squared- Ranges from 0 to 100 and reveals how closely an investment's returns track those of a benchmark index.

Standard Deviation- Measures how much an investment's returns are likely to fluctuate.

Mean- Represents the annualized total return for a fund over 3 years.

Sharpe Ratio- Measures how an investment balances risks and rewards. The higher the Sharpe ratio, the better the investment's historical risk-adjusted performance.

Excess Return- The difference between an investment option's return and the return of an external standard such as a passive index.

Tracking Error- Also known as "excess risk", is defined as the standard deviation or volatility of excess returns.

Information Ratio- A risk-adjusted measure commonly used to evaluate an active manager's involvement skill. It's defined as the manager's excess return divided by the variability or standard deviation of the excess return.

© 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. Past performance is no guarantee of future results. Investment options are subject to investment risk. Shares or unit values will fluctuate and investments, when redeemed, may be worth more or less than their original cost. The full name of this investment option is Principal Opportunistic Municipal 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

The Bloomberg Municipal Index measures the performance of the Bloomberg Barclays U.S. Municipal bond, which covers the USD-denominated Long-Term tax exempt bond market with four main sectors: state and local general obligation bonds, revenue bonds, insured bonds and pre-refunded bonds. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. A portion of the Fund's income may be subject to state and/or local taxes, and it may be subject to federal alternative minimum tax (AMT) for certain investors. The risks associated with derivative investments include that the underlying security, interest rate, market index, or other financial asset will not move in the direction the Investment Adviser and/or Sub-Advisor anticipated, the possibility that there may be no liquid secondary market, the risk that adverse price movements in an instrument can result in a loss substantially greater than a fund's initial investment, the possibility that the counterparty may fail to perform its obligations; and the inability to close out certain hedged positions to avoid adverse tax consequences.