PILIX

Principal International Equity Index Fund

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    Principal International Equity Index Fund

    Fund details

    as of 03/30/2023 unless indicated otherwise
    Fund ticker
    PILIX
    CUSIP
    742553373
    Benchmark
    MSCI EAFE NTR Index
    NAV
    $10.22
    Total fund assets
    $1.0B
    Dividend frequency
    Annually
    Minimum investment
    —
    Inception date
    12/30/2009
    Morningstar category
    Foreign Large Blend
    Investment approach
    The investment seeks long-term growth of capital. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities that compose the MSCI EAFE Index at the time of purchase. The index is a market-weighted equity index designed to measure the equity performance of developed markets, excluding the United States and Canada. The advisor employs a passive investment approach designed to attempt to track the performance of the index.

    Performance & expenses

    As of 02/28/2023
    Name 1 month 3 month YTD 1 year 3 year 5 year 10 year Since inception Overall
    Total return % -3.11% 3.04% 5.17% -4.24% 5.31% 1.63% 3.67% 3.52% —
    Benchmark performance
    MSCI EAFE NTR Index
    		 -2.09% 5.93% 5.84% -3.14% 6.84% 2.64% 4.83% — —
    Morningstar category average
    Foreign Large Blend
    		 -2.97% 3.37% 5.07% -5.16% 5.80% 2.18% 4.52% — —
    Morningstar percentile rankings — — — 38 62 69 81 — —
    # of funds in category 775 768 773 748 700 614 420 — 700
    Morningstar rating — — — — —
    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.
    Returns shown for periods of less than one year are not annualized.
    Index performance information: no deductions for fees, expenses or taxes. Indices are unmanaged and individuals cannot invest directly in an index.

    Ratings

    Morningstar Star Ratings

    as of 02/28/2023  |  Category: Foreign Large Blend
    3 year
    700 funds
    5 year
    614 funds
    10 year
    420 funds
    Overall
    700 funds
    3 year | 700 funds
    5 year | 614 funds
    10 year | 420 funds
    Overall | 700 funds

    Holdings

    Top 10

    as of 02/28/2023
    % of Assets
    % of Assets
    1. iShares MSCI EAFE ETF
    2.32%
    2. Nestle SA
    2.01%
    3. ASML Holding NV
    1.61%
    4. Novo Nordisk A/S
    1.52%
    5. LVMH Moet Hennessy Louis Vuitton SE
    1.49%
    6. Shell PLC
    1.39%
    7. Roche Holding AG
    1.32%
    8. AstraZeneca PLC
    1.31%
    9. Novartis AG
    1.18%
    10. TotalEnergies SE
    1.00%
    The holdings listed do not constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list.
    May not reflect current holdings or allocations.

    Portfolio characteristics

    # of holdings
    as of 02/28/2023
    798
    Active share
    as of 02/28/2023
    2.72%
    Turnover ratio
    as of 08/31/2022
    20.10%
    Weighted avg mark cap
    as of 02/28/2023
    78,889.44
    Alpha (3-year)
    as of 02/28/2023
    -1.56
    Beta (3-year)
    as of 02/28/2023
    1.04
    R-squared (3-year)
    as of 02/28/2023
    98.43
    Sharpe ratio (3-year)
    as of 02/28/2023
    0.30
    Standard deviation (3-year)
    as of 02/28/2023
    20.92
    Tracking error (3-year)
    as of 02/28/2023
    2.74
    May not reflect current holdings or allocations.

    Portfolio management

    Jeffrey Schwarte, CFA
    30 years of experience
    Aaron Siebel, CFA
    18 years of experience

    Literature

    Portfolio holdings

    Investment materials

    Disclosures
    Principal Funds are distributed by Principal Funds Distributor, Inc. ALPS Distributors, Inc. is the distributor of the Principal ETFs. ALPS Distributors, Inc. and the Principal Funds are not affiliated.
    The holdings listed do not constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list.
    Each index based investment option is invested in the stocks of the index it tracks. Performance of indices reflects the unmanaged result for the market segment the selected stocks represent. There is no assurance an index-based investment option will match the performance of the index tracked. Investors cannot invest directly in an index.
    NOT FDIC INSURED - MAY LOSE VALUE - NO BANK GUARANTEE
    International investing involves greater risks such as currency fluctuations, political/social instability, and differing accounting standards.
    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.
    Performance assumes reinvestment of all dividends and capital gains.
    Principal Global Investors is the Investment Adviser of all funds included in the Principal Funds, Inc. Principal Funds are managed by Principal Global Investors, its boutique affiliates, and by many leading sub-advisors.
    To obtain a prospectus, download or call Customer Service at 1.800.222.5852. Carefully consider a fund’s objectives, risks, charges, and expenses. The prospectus, or summary prospectus if available, contains this and other information. Please read it carefully before investing.
    The MSCI EAFE Index is an equity index which captures large and mid cap representation across 21 Developed Markets countries* around the world, excluding the US and Canada. With 829 constituents, the index covers approximately 85% of the free floatadjusted market capitalization in each country.
    The Morningstar Analyst Rating™ is not a credit or risk rating. It is a subjective evaluation performed by Morningstar’s manager research group, which consists of various Morningstar, Inc. subsidiaries (“Manager Research Group”). In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. The Manager Research Group uses this five-pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark over the long term on a risk adjusted basis. They consider quantitative and qualitative factors in their research. For actively managed strategies, people and process each receive a 45% weighting in their analysis, while parent receives a 10% weighting. For passive strategies, process receives an 80% weighting, while people and parent each receive a 10% weighting. For both active and passive strategies, performance has no explicit weight as it is incorporated into the analysis of people and process; price at the share-class level (where applicable) is directly subtracted from an expected gross alpha estimate derived from the analysis of the other pillars. The impact of the weighted pillar scores for people, process and parent on the final Analyst Rating is further modified by a measure of the dispersion of historical alphas among relevant peers. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, the modification by alpha dispersion is not used.
    The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. For active funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that an active fund will be able to deliver positive alpha net of fees relative to the standard benchmark index assigned to the Morningstar category. The level of the rating relates to the level of expected positive net alpha relative to Morningstar category peers for active funds. For passive funds, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that a fund will be able to deliver a higher alpha net of fees than the lesser of the relevant Morningstar category median or 0. The level of the rating relates to the level of expected net alpha relative to Morningstar category peers for passive funds. For certain peer groups where standard benchmarking is not applicable, primarily peer groups of funds using alternative investment strategies, a Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s expectation that a fund will deliver a weighted pillar score above a predetermined threshold within its peer group. Analyst Ratings ultimately reflect the Manager Research Group’s overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months.
    For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to https://shareholders.morningstar.com/investor-relations/governance/Compliance--Disclosure/default.aspx.
    The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund, (ii) involves unknown risks and uncertainties which may cause the Manager Research Group’s expectations not to occur or to differ significantly from what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund.