PMDIX

Principal Small-MidCap Dividend Income Fund

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    Principal Small-MidCap Dividend Income Fund

    Highlights

    Dividends are the hallmark of great companies

    • Growers, not just payers. Dividend growers and payers have historically had higher returns with less risk than non-dividend paying stocks.
    • Powered by great companies. A quality-first mentality removes subpar operators, helping to avoid value traps.
    • Independent thinking. Based in the Pacific Northwest, we avoid Wall Street’s herd mentality
    Analyst Rating
    as of 04/11/2022
    Category: Mid Cap Value

    Fund details

    as of 03/23/2023 unless indicated otherwise
    Fund ticker
    PMDIX
    CUSIP
    74255L738
    Benchmark
    Russell 2500 Value Index
    NAV
    $14.62
    Total fund assets
    $1.3B
    Dividend frequency
    Quarterly
    Minimum investment
    —
    Inception date
    06/06/2011
    Morningstar category
    Mid Cap Value
    Investment approach
    The investment seeks to provide current income and long-term growth of income and capital. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in dividend-paying equity securities of companies with small-to-medium market capitalizations at the time of purchase. Its investments include the securities of foreign issuers and real estate investment trusts.

    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 % -1.64% 2.01% 6.95% -1.25% 10.41% 5.25% 8.81% 9.41% —
    Benchmark performance
    Russell 2500 Value Index
    		 -2.83% 0.53% 6.88% -3.70% 12.66% 6.96% 8.77% — —
    Morningstar category average
    Mid Cap Value
    		 -2.72% 0.38% 5.27% -1.04% 13.77% 7.45% 9.34% — —
    Morningstar percentile rankings — — — 52 89 91 69 — —
    # of funds in category 405 405 405 396 386 366 267 — 386
    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

    Analyst Rating

    as of 04/11/2022

    Holdings

    Top 10

    as of 02/28/2023
    % of Assets
    % of Assets
    1. Bank OZK
    2.61%
    2. East West Bancorp Inc
    2.54%
    3. Brunswick Corp/DE
    2.40%
    4. Amdocs Ltd
    2.34%
    5. MKS Instruments Inc
    2.22%
    6. Littelfuse Inc
    2.03%
    7. Lincoln Electric Holdings Inc
    2.01%
    8. Fidelity National Financial Inc
    2.01%
    9. CONMED Corp
    1.95%
    10. Timken Co/The
    1.95%
    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
    72
    Active share
    as of 02/28/2023
    91.69%
    Turnover ratio
    as of 08/31/2022
    22.10%
    Weighted avg mark cap
    as of 02/28/2023
    8,049.18
    Alpha (3-year)
    as of 02/28/2023
    -1.28
    Beta (3-year)
    as of 02/28/2023
    0.92
    R-squared (3-year)
    as of 02/28/2023
    96.39
    Sharpe ratio (3-year)
    as of 02/28/2023
    0.49
    Standard deviation (3-year)
    as of 02/28/2023
    25.01
    Tracking error (3-year)
    as of 02/28/2023
    5.17
    May not reflect current holdings or allocations.

    Portfolio management

    Daniel R. Coleman
    44 years of experience
    Sarah E. Radecki, CFA
    27 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.
    NOT FDIC INSURED - MAY LOSE VALUE - NO BANK GUARANTEE
    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 Russell 2500™ Value Index measures the performance of the small to mid-cap value segment of the US equity universe. It includes those Russell 2500 companies with relatively lower price-to-book ratios, lower I/B/E/S forecast medium term (2 year) growth and lower sales per share historical growth (5 years). The Russell 2500 Value Index is constructed to provide a comprehensive and unbiased barometer of the small to mid-cap growth market. The index is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small to mid-cap opportunity set and that the represented companies continue to reflect value characteristics.
    Small- and mid-cap stocks may have additional risks including greater price volatility.
    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.