PFUMX | Principal Finisterre Emerging Markets Total Return Bond Fund

PFUMX

Principal Finisterre Emerging Markets Total Return Bond Fund

Copy URL

Prospectus

Enhanced fact sheet

Overview

Performance

As of 12/31/2025

YTD

16.04%

1-year

16.04%

3-year

11.49%

5-year

4.05%

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.

Overall Morningstar Rating™

As of 12/31/2025

Fund details

as of 01/15/2026 unless indicated otherwise

Fund ticker

PFUMX

CUSIP

74255L175

Benchmark

Finisterre Unconstrained Emerging Markets Bond Blended Index

NAV

$9.76

Total fund assets

$814.61M

Dividend frequency

Monthly

Minimum investment

—

Inception date

07/11/2016

Morningstar category

Emerging Markets Bond

Investment approach

The investment seeks to generate total returns from current income and capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds that are tied economically to an emerging market, and in derivatives on such investments. Emerging markets are generally defined to include all countries except Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, and the United States.

Performance & expenses

As of 12/31/2025

Month end Quarter end

Name	1 month	3 month	YTD	1-year	3-year	5-year	10-year	Since inception	Overall
Name	1 month	3 month	YTD	1-year	3-year	5-year	10-year	Since inception	Overall	Total return	1.04%	3.35%	16.04%	16.04%	11.49%	4.05%	—	5.61%	—
Benchmark performance Finisterre Unconstrained Emerging Markets Bond Blended Index	0.90%	2.64%	14.05%	14.05%	9.55%	1.84%	—	—	—
Morningstar category average Emerging Markets Bond	0.82%	2.89%	13.30%	13.30%	10.36%	2.21%	—	—	—
Morningstar percentile rankings	—	—	—	18	33	8	—	—	—
# of funds in category	230	227	225	225	220	208	—	—	220
Morningstar rating Morningstar ratings disclosure Morningstar ratings are based on risk-adjusted returns. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar risk-adjusted return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar ratings do not reflect the inclusion of sales charges. If sales charges were reflected, ratings could be lower.	—	—	—	—			—	—

30-Day SEC yield

Unsubsidized as of 12/31/2025

6.16%

30-Day SEC yield

Subsidized as of 12/31/2025

6.16%

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.

Name	1 month	3 month	YTD	1-year	3-year	5-year	10-year	Since inception	Overall
Name	1 month	3 month	YTD	1-year	3-year	5-year	10-year	Since inception	Overall	Total return	1.04%	3.35%	16.04%	16.04%	11.49%	4.05%	—	5.61%	—
Benchmark performance Finisterre Unconstrained Emerging Markets Bond Blended Index	0.90%	2.64%	14.05%	14.05%	9.55%	1.84%	4.41%	—	—
Morningstar category average Emerging Markets Bond	0.82%	2.89%	13.30%	13.30%	10.36%	2.21%	4.52%	—	—

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.

Data	2025	2024	2023	2022	2021
Total return	16.04%	7.40%	11.20%	-9.30%	-2.99%
Morningstar category average Emerging Markets Bond	13.30%	6.92%	10.75%	-14.50%	-2.80%

Date	Type	Dollar per share
12/29/2025	Income	0.0696
11/24/2025	Income	0.0679
10/28/2025	Income	0.0393
09/25/2025	Income	0.0390
08/26/2025	Income	0.0404
07/28/2025	Income	0.0365
06/25/2025	Income	0.0387
05/27/2025	Income	0.0418
04/25/2025	Income	0.0414
03/26/2025	Income	0.0468
02/25/2025	Income	0.0502
01/28/2025	Income	0.0578
12/27/2024	Income	0.0694
11/22/2024	Income	0.0582
10/28/2024	Income	0.0368
09/25/2024	Income	0.0405
08/27/2024	Income	0.0409
07/26/2024	Income	0.0438
06/25/2024	Income	0.0462
05/28/2024	Income	0.0536
04/25/2024	Income	0.0568
03/25/2024	Income	0.0590
02/26/2024	Income	0.0690
01/26/2024	Income	0.0679
12/27/2023	Income	0.0690
11/27/2023	Income	0.0634
10/26/2023	Income	0.0648
09/26/2023	Income	0.0436
08/28/2023	Income	0.0379
07/26/2023	Income	0.0362
06/27/2023	Income	0.0410
05/25/2023	Income	0.0424
04/25/2023	Income	0.0400
03/28/2023	Income	0.0419
02/23/2023	Income	0.0428
01/26/2023	Income	0.0470

Ratings

Morningstar ratings

Morningstar ratings disclosure

Overall Morningstar Rating™ as of 12/31/25 among Emerging Markets Bond Funds. Morningstar ratings are based on risk-adjusted returns.

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar risk-adjusted return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar ratings do not reflect the inclusion of sales charges. If sales charges were reflected, ratings could be lower.

as of 12/31/2025

3-year

220 funds

5-year

208 funds

Overall

220 funds

3 year | 220 funds

5 year | 208 funds

Overall | 220 funds

Holdings

Top 10

as of 11/30/2025

% of Assets

1. Principal Government Money Mar

5.83%

2. Brazil Notas do Tesouro Nacion

3.02%

3. Republic of South Africa Gover

2.43%

4. Colombian TES

1.58%

5. Hungary Government Bond

1.51%

6. Republic of Poland Government

1.51%

7. Peruvian Government Internatio

1.50%

8. Mexican Bonos

1.49%

9. Republic of South Africa Gover

1.35%

10. Peru Government Bond

1.35%

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

Average effective maturity

as of 12/31/2025

7.14

# of holdings

as of 12/31/2025

261

Average weighted coupon

as of 12/31/2025

6.75%

Average yield to maturity

as of 12/31/2025

8.58%

Turnover ratio

as of 10/31/2025

125.70%

Weighted avg duration

as of 12/31/2025

4.89

Weighted avg life to worst

as of 12/31/2025

6.02

Yield to worst

as of 12/31/2025

8.34%

May not reflect current holdings or allocations.

Portfolio management

Literature

Investment materials

Portfolio holdings

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.

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.

Risk is magnified in emerging markets, which may lack established legal, political, business, or social structures to support securities markets.

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 prospectus online 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.

© 2026 Morningstar, Inc. All rights reserved. The information 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. Past performance is no guarantee of future results.

The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please refer to the Morningstar shareholder disclosures .

The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.

The Analyst-Driven % data point displays the weighted percentage of a vehicle’s pillar ratings assigned directly or indirectly by analysts.

The Data Coverage % data point is a summary metric describing the level of data completeness used to generate the overall rating.