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Investment Type: pif

Global Emerging Markets Inst Fund (PIEIX)

Quick Facts Ticker: PIEIX Inception Date: 03/01/2001 Extended Performance Inception Date: 12/06/2000 Morningstar Category: Diversified Emerging Mkts Total Net Assets (mil): $243.31	Investment Strategy    What's this? The investment seeks long-term growth of capital. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of emerging market companies at the time of purchase. The fund's managers consider "emerging market" to mean any market that is considered to be an emerging market by the international financial community (including the MSCI Emerging Markets Index or Bloomberg Emerging Markets USD Aggregate Bond Index). It invests in equity securities regardless of market capitalization (small, medium or large) and style (growth or value).
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 721 Diversified Emerging Mkts 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 % 2.93 4.29 4.29 12.04 -4.35 3.45 3.00 7.37 MSCI Emerging Markets NR Index % 2.48 2.37 2.37 8.15 -5.05 2.22 2.95 --- Diversified Emerging Mkts Category % 2.01 2.70 2.70 10.31 -3.83 3.23 2.96 --- Morningstar Percentile Rankings** --- --- --- 36 51 42 49 --- # of Funds in Category 836 835 835 817 721 657 425 ---

* Inception Date: 03/01/2001 ; Extended Performance Inception Date: 12/06/2000

**Morningstar percentile rankings are based on total returns.

Expenses   as of 03/31/2024 Total Investment Expense - Gross: 1.31% Total Investment Expense - Net: 1.10% Contractual Cap Date: 02/28/2025 Total Investment Expense Gross Per $1,000 Invested: $13.10

Inv Manager or Sub-Advisor

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Principal Global Investors

Portfolio Managers

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Jeffrey Kilkenny , CFA Since 01/10/2020 B.A./B.S. , University of Iowa

© 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 Global Emerging Markets 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.

MSCI Emerging Markets NR Index measures the performance of the large and mid cap segments of emerging market equity securities. It is free float-adjusted market-capitalization weighted. Instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time. 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. International and global investment options are subject to additional risk due to fluctuating exchange rates, foreign accounting and financial policies, and other economic and political environments.