PMJXX

Principal Money Market Fund

Share class
Copy URL

    Principal Money Market Fund

    Fund details

    as of 03/23/2023 unless indicated otherwise
    Fund ticker
    PMJXX
    CUSIP
    74253Q663
    Total fund assets
    $961.2M
    Investment approach
    The investment seeks as high a level of current income as is considered consistent with preservation of principal and maintenance of liquidity. The fund seeks to maintain a stable net asset value of $1.00 per share by investing its assets in a portfolio of high quality, short-term money market instruments such as those issued by banks, corporations, municipalities and the U.S. government. Such instruments include certificates of deposit, bankers' acceptances, commercial paper, treasury bills, bonds, repurchase agreements, and shares of other money market funds. The fund maintains a dollar weighted average portfolio maturity of 60 days or less.

    Performance & expenses

    As of 02/28/2023
    Name 1 month 3 month YTD 1 year 3 year 5 year 10 year Since inception Overall
    Excluding sales charge 0.32% 0.98% 0.64% 1.91% 0.69% 1.07% 0.61% 1.04% —
    Including sales charge -0.68% -0.02% -0.36% 0.91% 0.69% 1.07% 0.61% 1.04% —
    Benchmark performance
    Bloomberg U.S. Treasury Bellwethers 3 Month Index
    		 0.34% 1.06% 0.68% 2.19% 0.87% 1.37% 0.85% — —
    Morningstar category average
    Prime Money Market
    		 0.33% 0.95% 0.66% 2.04% 0.74% 1.16% 0.69% — —
    Morningstar percentile rankings — — — — — — — — —
    # of funds in category 212 209 209 206 194 180 146 — 194
    Morningstar rating — — — — — — — — —
    7-Day SEC yield
    Subsidized as of 02/28/2023
    4.25%
    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.

    Holdings

    Top 10

    as of 02/28/2023
    % of Assets
    % of Assets
    1. Barclays Capital Repurchase Agreement
    2.08%
    2. Merrill Lynch Repurchase Agreement
    1.87%
    3. BNP Paribas SA
    1.56%
    4. Chesham Finance Ltd / Chesham Finance LLC
    1.56%
    5. DWS Government Money Market Series - Institutional Class
    1.17%
    6. Credit Agricole Corporate and Investment Bank/New York
    1.04%
    7. Fairway Finance Co LLC
    1.04%
    8. Kreditanstalt fuer Wiederaufbau
    1.04%
    9. Goldman Sachs Financial Square Government Fund - Institutional Class
    0.95%
    10. Invesco Government & Agency Portfolio - Institutional Class
    0.94%
    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 management

    Erika Isley
    30 years of experience
    Tracy Reeg
    22 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.
    Fixed‐income investment options are subject to interest rate risk, and their value will decline as interest rates rise.
    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.
    You could lose money by investing in the Fund. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. The fund may impose a fee upon sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by Federal Deposit Insurance Corporation or any other government agency. The Funds sponsor has no legal obligation to provide financial support to the Fund, and should no expect that the sponsor will provide financial support to the Fund at any time.
    The 7-Day SEC Yield quotation more closely reflects the current earnings of the money market fund than the total return quotation.
    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.