Principal Diversified Income Fund

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    Principal Diversified Income Fund

    Highlights

    Increase diversification and yield potential

    • Open architecture approach combines credit sectors and third-party managers targeting an incremental yield advantage over traditional, core fixed income.
    • Global, diversified opportunity set may offer more attractive income and total return potential than traditional, core fixed income.
    • Risk-aware portfolio construction incorporates macroeconomic insights with robust holdings-based risk analysis.

    Fund details

    as of 05/17/2024 unless indicated otherwise
    Fund ticker
    PGBLX
    CUSIP
    742537244
    Benchmark
    DI Blended Index (Linked)
    Extended performance inception date
    12/15/2008
    NAV
    $11.84
    Total fund assets
    $2.6B
    Dividend frequency
    Monthly
    Minimum investment
    Inception date
    06/12/2017
    Morningstar category
    Multisector Bond
    Investment approach
    The investment seeks income. The fund generally invests a majority of its assets in fixed income securities, such as investment-grade corporate bonds, high yield bonds (also known as "junk" bonds), preferred securities, securitized products, and emerging market debt securities, in an effort to provide incremental yields over a portfolio of government securities. Such securities include instruments with variable or floating interest rates. The fixed income portion of the fund is not managed to a particular maturity or duration. The fund invests in foreign, including emerging market, securities.
    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.
    Emerging market debt may be subject to heightened default and liquidity risk.
    These calculated returns reflect the historical performance of the oldest share class of the Fund, adjusted to reflect the fees and expenses of the share class shown. Please see the Fund's prospectus for more information on specific expenses and see the Fund's most recent shareholder report for the 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.
    Fixed-income investments are subject to interest rate risk; as interest rates rise their value will decline. Lower-rated securities are subject to additional credit and default risks, as are mortgage-backed securities, which carry pre-payment risk and increased risk due to real estate exposure. International investing involves greater risks such as currency fluctuations, political/social instability, and differing accounting standards. These risks are magnified in emerging markets, which have increased liquidity risk. Equity investments involve greater risk, including higher volatility, than fixed-income investments.
    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.
    DI Blended Index (Linked) composition: March 1, 2022 and after, 100% Bloomberg U.S. Aggregate Index (covers the U.S. investment-grade fixed rate bond market and represents securities that are domestic, taxable, and dollar denominated), for the period prior to March 1, 2022, 80% Bloomberg Global Aggregate Index (a broad-based measure of global investment-grade fixed income) and 20% MSCI World Value Index NTR (includes large- and mid-cap securities across developed markets that exhibit overall value style), and for the period prior to January 1, 2019, 40% Bloomberg Global Credit Index (represents global investment-grade, fixed-rate, taxable corporate and government-related bonds), 30% Bloomberg Global High Yield Index (represents the global high yield bond market), and 30% MSCI ACWI Value Index NTR (a market cap weighted index that is a broad measure of global equity-markets). Net Total Return (NTR) includes dividends after the deduction of withholding taxes.
    © 2024 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 go to https://shareholders.morningstar.com/investor-relations/governance/Compliance--Disclosure/default.aspx.
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