Principal Short-Term Income Fund
Overview
Performance
As of 11/30/2025
YTD
5.05%
1-year
5.10%
3-year
5.37%
5-year
2.11%
10-year
2.34%
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 11/30/2025
Highlights
A true, high-quality, short-term bond fund that aims to provide a high level of income and stable principal
- 18- to 24- month investment horizon to capitalize on value opportunities and minimize trading costs.
- Independent credit research with a bias towards issuers with a margin of safety.
- A bond ladder consisting of corporate credit, ABS, and agencies.
Fund details
as of
12/08/2025
unless indicated otherwise
Fund ticker
SRHQX
CUSIP
74254V562
Benchmark
Bloomberg Credit 1-3 Year Index
NAV
$12.16
Total fund assets
$3.51B
Dividend frequency
Daily
Minimum investment
$1,000.00
Inception date
11/01/1993
Morningstar category
Short-Term Bond
Investment approach
The investment seeks as high a level of current income as is consistent with prudent investment management and stability of principal.
The fund invests primarily in high quality short-term bonds and other fixed-income securities that, at the time of purchase, are rated BBB- or higher by S&P Global or Baa3 or higher by Moody's. It maintains an effective maturity of five years or less and an average portfolio duration that is within ±30% of the duration of the Bloomberg Credit 1-3 Year Index.
Performance & expenses
As of
11/30/2025
| Name | 1 month | 3 month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | Overall |
|---|---|---|---|---|---|---|---|---|---|
| Excluding sales charge | 0.45% | 1.08% | 5.05% | 5.10% | 5.37% | 2.11% | 2.34% | 3.44% | — |
| Including sales charge | -1.82% | -1.20% | 2.65% | 2.71% | 4.59% | 1.65% | 2.10% | 3.36% | — |
| Benchmark performance Bloomberg Credit 1-3 Year Index |
0.48% | 1.23% | 5.41% | 5.61% | 5.35% | 2.42% | 2.58% | — | — |
| Morningstar category average Short-Term Bond |
0.47% | 1.23% | 5.63% | 5.60% | 5.52% | 2.25% | 2.44% | — | — |
| Morningstar percentile rankings | — | — | — | 82 | 56 | 57 | 55 | — | — |
| # of funds in category | 561 | 558 | 555 | 554 | 530 | 500 | 383 | — | 530 |
| Morningstar rating | — | — | — | — | — |
30-Day SEC yield
Unsubsidized as of
11/30/2025
3.49%
30-Day SEC yield
Subsidized as of
11/30/2025
3.49%
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.
| Name | 1 month | 3 month | YTD | 1-year | 3-year | 5-year | 10-year | Since inception | Overall |
|---|---|---|---|---|---|---|---|---|---|
| Excluding sales charge | 0.30% | 1.20% | 4.24% | 4.24% | 5.41% | 2.02% | 2.25% | 3.43% | — |
| Including sales charge | -1.96% | -1.09% | 1.86% | 1.88% | 4.63% | 1.56% | 2.02% | 3.35% | — |
| Benchmark performance Bloomberg Credit 1-3 Year Index |
0.41% | 1.39% | 4.56% | 4.71% | 5.43% | 2.33% | 2.49% | — | — |
| Morningstar category average Short-Term Bond |
0.39% | 1.43% | 4.78% | 4.71% | 5.64% | 2.25% | 2.38% | — | — |
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.
| Data | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Excluding sales charge | 4.89% | 5.75% | -3.96% | -0.95% | 3.85% |
| Including sales charge | 2.55% | 3.33% | -6.11% | -3.20% | 1.54% |
| Morningstar category average Short-Term Bond |
5.07% | 5.73% | -5.22% | 0.05% | 3.81% |
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.
| Date | Type | Dollar per share |
|---|---|---|
| 11/28/2025 | Income | 0.0341 |
| 10/31/2025 | Income | 0.0402 |
| 09/30/2025 | Income | 0.0360 |
| 08/29/2025 | Income | 0.0399 |
| 07/31/2025 | Income | 0.0385 |
| 06/30/2025 | Income | 0.0356 |
| 05/30/2025 | Income | 0.0389 |
| 04/30/2025 | Income | 0.0374 |
| 03/31/2025 | Income | 0.0350 |
| 02/28/2025 | Income | 0.0332 |
| 01/31/2025 | Income | 0.0377 |
| 12/31/2024 | Income | 0.0363 |
| 11/29/2024 | Income | 0.0367 |
| 10/31/2024 | Income | 0.0372 |
| 09/30/2024 | Income | 0.0338 |
| 08/30/2024 | Income | 0.0398 |
| 07/31/2024 | Income | 0.0372 |
| 06/28/2024 | Income | 0.0331 |
| 05/31/2024 | Income | 0.0376 |
| 04/30/2024 | Income | 0.0328 |
| 03/28/2024 | Income | 0.0337 |
| 02/29/2024 | Income | 0.0308 |
| 01/31/2024 | Income | 0.0314 |
| 12/29/2023 | Income | 0.0332 |
| 11/30/2023 | Income | 0.0306 |
| 10/31/2023 | Income | 0.0309 |
| 09/29/2023 | Income | 0.0306 |
| 08/31/2023 | Income | 0.0301 |
| 07/31/2023 | Income | 0.0270 |
| 06/30/2023 | Income | 0.0295 |
| 05/31/2023 | Income | 0.0283 |
| 04/28/2023 | Income | 0.0250 |
| 03/31/2023 | Income | 0.0290 |
| 02/28/2023 | Income | 0.0242 |
| 01/31/2023 | Income | 0.0241 |
| 12/30/2022 | Income | 0.0261 |
Expense ratio gross
0.61%
Expense ratio net
0.61%
Expense limit expiration date
—
Maximum up-front sales charge
2.25%
Contingent deferred sales charge
1.00%
A maximum sales charge of 2.25% may apply for Class A shares. Performance reflects this maximum sales charge when a sales charge is indicated.
In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the mutual fund. Performance shown reflects the application of net expenses of the fund.
Ratings
Morningstar ratings
as of 11/30/2025
Holdings
Top 10
as of
10/31/2025
% of Assets
% of Assets
1.
United States Treasury Note/Bo
5.22%
2.
Principal Government Money Mar
4.96%
3.
United States Treasury Note/Bo
3.65%
4.
United States Treasury Note/Bo
3.17%
5.
JP Morgan Mortgage Trust Serie
0.65%
6.
HCA Inc
0.58%
7.
CF Hippolyta Issuer LLC
0.57%
8.
JPMorgan Chase & Co
0.56%
9.
Vistra Operations Co LLC
0.55%
10.
Citigroup Inc
0.55%
Portfolio management
Jeff Callahan, CFA
19 years of experience
Michael Goosay
34 years of experience