Request URL: https://www.principal.com/InvestmentProfiles/index.faces
Investment Type: pif

High Income Inst Fund (PYHIX)

Quick Facts Ticker: PYHIX Inception Date: 12/29/2004 Morningstar Category: High Yield Bond Total Net Assets (mil): $3,532.56	Investment Strategy    What's this? The investment seeks high current income. Under normal circumstances, the fund invests primarily in below investment grade bonds and bank loans which are rated, at the time of purchase, Ba1 or lower by Moody's Investors Service, Inc. ("Moody's") and BB+ or lower by S&P Global Ratings ("S&P Global"). It also invests in investment grade bank loans (also known as senior floating rate interests) and securities of foreign issuers.
Morningstar Style Box™   as of 02/29/2024    What's this?	Overall Morningstar Star Rating™   as of 03/31/2024    What's this? Out of 606 High Yield Bond Funds 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.

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.

Expenses   as of 03/31/2024 Total Investment Expense - Gross: 0.63% Total Investment Expense - Net: 0.61% Waiver Date: 02/28/2025 Total Investment Expense Gross Per $1,000 Invested: $6.30

Statistics   30-Day SEC Yield - Subsidized (Net) as of 03/31/2024: 7.40% 30-Day SEC Yield - Non-Subsidized (Gross) as of 03/31/2024: 7.39%

Inv Manager or Sub-Advisor

   What's this?

Insight Investment

Polen Capital Credit, LLC.

Post Advisory Group

Portfolio Managers

   What's this?

James W. Fennessey , CFA Since 07/19/2007 B.S. , Truman State University

Randy L. Welch Since 07/19/2007 M.B.A. , Drake University

© 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

Fees and expenses are only one of several factors that participants and beneficiaries should consider when making investment decisions.  The cumulative effect of fees and expenses can substantially reduce the growth of a participant's or beneficiary's retirement account.  Participants and beneficiaries can visit the Employee Benefit Security Administration's website for an example demonstrating the long-term effect of fees and expenses.

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.