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High Yield Fund
mutual fund
CPHYX
Payout Change
Pending
Price as of:
$6.85
-0.01
-0.15%
primary theme
High Yield Bond
share class
CPHYX (Mutual Fund)
High Yield Fund
Payout Change
Pending
Price as of:
$6.85
-0.01
-0.15%
primary theme
High Yield Bond
share class
CPHYX (Mutual Fund)
High Yield Fund
Payout Change
Pending
Price as of:
$6.85
-0.01
-0.15%
primary theme
High Yield Bond
share class
Name
As of 10/09/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
6.6%
1 yr return
13.2%
3 Yr Avg Return
3.0%
5 Yr Avg Return
4.5%
Net Assets
$2.51 B
Holdings in Top 10
9.9%
52 WEEK LOW AND HIGH
$6.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.94%
SALES FEES
Front Load 3.75%
Deferred Load N/A
TRADING FEES
Turnover 63.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/09/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
CPHYX - Profile
Distributions
- YTD Total Return 6.6%
- 3 Yr Annualized Total Return 3.0%
- 5 Yr Annualized Total Return 4.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.44%
- Dividend Yield 5.6%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameHigh Yield Fund
-
Fund Family NamePrincipal Funds
-
Inception DateJan 11, 2001
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMark Denkinger
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in below investment grade bonds and bank loans (sometimes called “high yield” or “junk”), which are rated, at the time of purchase, Ba1 or lower by Moody’s Investors Service, Inc. (“Moody’s”) and BB+ or lower by S&P Global Ratings (“S&P Global”). If the bond or bank loan has been rated by only one of the rating agencies, that rating will determine the rating of the bond or bank loan; if the bond or bank loan is rated differently by the rating agencies, the highest rating will be used; and if the bond or bank loan has not been rated by either of those agencies, those selecting such investments will determine the quality of the bond or bank loan. The Fund also invests in investment grade bank loans (also known as senior floating rate interests) and securities of foreign issuers. Under normal circumstances, the Fund maintains an average portfolio duration that is within ±20% of the duration of the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index, which as of January 31, 2024 was 3.33 years. The Fund is not managed to a particular maturity.
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CPHYX - Performance
Return Ranking - Trailing
| Period | CPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.6% | -5.7% | 15.6% | 65.53% |
| 1 Yr | 13.2% | -0.3% | 19.7% | 70.71% |
| 3 Yr | 3.0%* | -14.6% | 21.1% | 30.63% |
| 5 Yr | 4.5%* | -11.8% | 37.4% | 27.37% |
| 10 Yr | 4.5%* | -5.1% | 20.2% | 23.58% |
* Annualized
Return Ranking - Calendar
| Period | CPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.0% | -4.7% | 14.3% | 28.08% |
| 2022 | -13.2% | -33.4% | 3.6% | 19.51% |
| 2021 | 0.5% | -8.4% | 8.2% | 33.33% |
| 2020 | 0.8% | -13.2% | 302.7% | 29.60% |
| 2019 | 7.1% | -4.4% | 13.3% | 60.72% |
Total Return Ranking - Trailing
| Period | CPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.6% | -5.7% | 15.6% | 65.53% |
| 1 Yr | 13.2% | -0.3% | 19.7% | 70.71% |
| 3 Yr | 3.0%* | -14.6% | 21.1% | 30.63% |
| 5 Yr | 4.5%* | -11.8% | 37.4% | 27.37% |
| 10 Yr | 4.5%* | -5.1% | 20.2% | 23.58% |
* Annualized
Total Return Ranking - Calendar
| Period | CPHYX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.4% | -4.7% | 18.7% | 43.83% |
| 2022 | -8.2% | -33.4% | 47.8% | 18.20% |
| 2021 | 5.9% | -8.4% | 12.4% | 33.67% |
| 2020 | 6.8% | -9.6% | 325.6% | 24.87% |
| 2019 | 13.8% | -3.8% | 19.4% | 50.27% |
NAV & Total Return History
CPHYX - Holdings
Concentration Analysis
| CPHYX | Category Low | Category High | CPHYX % Rank | |
|---|---|---|---|---|
| Net Assets | 2.51 B | 3.13 M | 23.6 B | 19.90% |
| Number of Holdings | 340 | 2 | 3879 | 54.47% |
| Net Assets in Top 10 | 250 M | -492 M | 5.25 B | 27.32% |
| Weighting of Top 10 | 9.89% | 4.2% | 146.0% | 79.35% |
Top 10 Holdings
- Principal Government Money Market Fund - Class R-6 2.95%
- Smyrna Ready Mix Concrete LLC 0.89%
- Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 0.81%
- Transocean Inc 0.76%
- Hess Midstream Operations LP 0.76%
- Acadia Healthcare Co Inc 0.76%
- Tenet Healthcare Corp 0.76%
- Aethon United BR LP / Aethon United Finance Corp 0.75%
- Archrock Partners LP / Archrock Partners Finance Corp 0.74%
- Clearway Energy Operating LLC 0.72%
Asset Allocation
| Weighting | Return Low | Return High | CPHYX % Rank | |
|---|---|---|---|---|
| Bonds | 98.33% | 0.00% | 145.36% | 11.81% |
| Cash | 3.18% | -52.00% | 48.02% | 58.54% |
| Convertible Bonds | 0.48% | 0.00% | 17.89% | 80.81% |
| Stocks | 0.05% | 0.00% | 99.64% | 67.15% |
| Other | 0.00% | -39.08% | 99.96% | 47.80% |
| Preferred Stocks | 0.00% | 0.00% | 4.97% | 76.59% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | CPHYX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 74.65% |
| Technology | 0.00% | 0.00% | 33.17% | 79.77% |
| Real Estate | 0.00% | 0.00% | 86.71% | 74.42% |
| Industrials | 0.00% | 0.00% | 93.12% | 80.00% |
| Healthcare | 0.00% | 0.00% | 22.17% | 76.28% |
| Financial Services | 0.00% | 0.00% | 100.00% | 78.84% |
| Energy | 0.00% | 0.00% | 100.00% | 6.74% |
| Communication Services | 0.00% | 0.00% | 99.99% | 86.74% |
| Consumer Defense | 0.00% | 0.00% | 100.00% | 75.81% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 80.93% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 77.21% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | CPHYX % Rank | |
|---|---|---|---|---|
| US | 0.04% | 0.00% | 99.64% | 65.53% |
| Non US | 0.00% | -0.01% | 0.83% | 15.28% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | CPHYX % Rank | |
|---|---|---|---|---|
| Corporate | 95.87% | 0.00% | 100.00% | 44.63% |
| Cash & Equivalents | 3.18% | 0.00% | 48.02% | 49.11% |
| Securitized | 0.31% | 0.00% | 97.24% | 31.27% |
| Derivative | 0.00% | -14.19% | 42.26% | 36.42% |
| Municipal | 0.00% | 0.00% | 1.17% | 63.52% |
| Government | 0.00% | 0.00% | 99.07% | 74.10% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | CPHYX % Rank | |
|---|---|---|---|---|
| US | 97.86% | 0.00% | 126.57% | 13.98% |
| Non US | 0.47% | 0.00% | 96.91% | 37.07% |
CPHYX - Expenses
Operational Fees
| CPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.94% | 0.02% | 38.33% | 53.08% |
| Management Fee | 0.51% | 0.00% | 1.75% | 37.44% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 42.30% |
| Administrative Fee | N/A | 0.00% | 0.50% | N/A |
Sales Fees
| CPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 3.75% | 2.25% | 5.75% | 66.32% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| CPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| CPHYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 63.00% | 1.00% | 255.00% | 46.18% |
CPHYX - Distributions
Dividend Yield Analysis
| CPHYX | Category Low | Category High | CPHYX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.63% | 0.00% | 11.76% | 57.35% |
Dividend Distribution Analysis
| CPHYX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
Net Income Ratio Analysis
| CPHYX | Category Low | Category High | CPHYX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.44% | -2.39% | 9.30% | 46.36% |
Capital Gain Distribution Analysis
| CPHYX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 30, 2024 | $0.032 | OrdinaryDividend |
| Aug 30, 2024 | $0.039 | OrdinaryDividend |
| Jul 31, 2024 | $0.037 | OrdinaryDividend |
| Apr 30, 2024 | $0.007 | OrdinaryDividend |
| Mar 31, 2024 | $0.035 | OrdinaryDividend |
| Jan 31, 2024 | $0.033 | OrdinaryDividend |
| Dec 29, 2023 | $0.036 | OrdinaryDividend |
| Oct 31, 2023 | $0.035 | OrdinaryDividend |
| Sep 30, 2023 | $0.034 | OrdinaryDividend |
| Aug 31, 2023 | $0.032 | OrdinaryDividend |
| Jul 31, 2023 | $0.030 | OrdinaryDividend |
| Jun 30, 2023 | $0.033 | OrdinaryDividend |
| May 31, 2023 | $0.032 | OrdinaryDividend |
| Apr 28, 2023 | $0.028 | OrdinaryDividend |
| Mar 31, 2023 | $0.034 | OrdinaryDividend |
| Feb 28, 2023 | $0.028 | OrdinaryDividend |
| Jan 31, 2023 | $0.029 | OrdinaryDividend |
| Dec 30, 2022 | $0.033 | OrdinaryDividend |
| Nov 30, 2022 | $0.030 | OrdinaryDividend |
| Oct 31, 2022 | $0.030 | OrdinaryDividend |
| Sep 30, 2022 | $0.032 | OrdinaryDividend |
| Aug 31, 2022 | $0.030 | OrdinaryDividend |
| Jul 29, 2022 | $0.029 | OrdinaryDividend |
| Jun 30, 2022 | $0.028 | OrdinaryDividend |
| May 31, 2022 | $0.027 | OrdinaryDividend |
| Apr 29, 2022 | $0.027 | OrdinaryDividend |
| Mar 31, 2022 | $0.028 | OrdinaryDividend |
| Feb 28, 2022 | $0.025 | OrdinaryDividend |
| Jan 31, 2022 | $0.026 | OrdinaryDividend |
| Dec 31, 2021 | $0.031 | OrdinaryDividend |
| Nov 30, 2021 | $0.028 | OrdinaryDividend |
| Oct 29, 2021 | $0.030 | OrdinaryDividend |
| Sep 30, 2021 | $0.029 | OrdinaryDividend |
| Aug 31, 2021 | $0.029 | OrdinaryDividend |
| Jul 30, 2021 | $0.031 | OrdinaryDividend |
| Jun 30, 2021 | $0.027 | OrdinaryDividend |
| May 28, 2021 | $0.027 | OrdinaryDividend |
| Apr 30, 2021 | $0.031 | OrdinaryDividend |
| Mar 31, 2021 | $0.029 | OrdinaryDividend |
| Feb 26, 2021 | $0.026 | OrdinaryDividend |
| Jan 29, 2021 | $0.027 | OrdinaryDividend |
| Dec 31, 2020 | $0.033 | OrdinaryDividend |
| Nov 30, 2020 | $0.028 | OrdinaryDividend |
| Oct 30, 2020 | $0.030 | OrdinaryDividend |
| Sep 30, 2020 | $0.028 | OrdinaryDividend |
| Aug 31, 2020 | $0.027 | OrdinaryDividend |
| Jul 31, 2020 | $0.031 | OrdinaryDividend |
| Jun 30, 2020 | $0.027 | OrdinaryDividend |
| May 29, 2020 | $0.030 | OrdinaryDividend |
| Apr 30, 2020 | $0.030 | OrdinaryDividend |
| Mar 31, 2020 | $0.030 | OrdinaryDividend |
| Feb 28, 2020 | $0.028 | OrdinaryDividend |
| Jan 31, 2020 | $0.031 | OrdinaryDividend |
| Dec 31, 2019 | $0.046 | OrdinaryDividend |
| Nov 29, 2019 | $0.031 | OrdinaryDividend |
| Oct 31, 2019 | $0.030 | OrdinaryDividend |
| Sep 30, 2019 | $0.028 | OrdinaryDividend |
| Aug 30, 2019 | $0.034 | OrdinaryDividend |
| Jul 31, 2019 | $0.034 | OrdinaryDividend |
| Dec 17, 2014 | $0.033 | CapitalGainShortTerm |
| Dec 17, 2014 | $0.049 | CapitalGainLongTerm |
| Dec 18, 2013 | $0.052 | CapitalGainShortTerm |
| Dec 18, 2013 | $0.113 | CapitalGainLongTerm |
| Dec 19, 2012 | $0.053 | CapitalGainShortTerm |
| Dec 19, 2012 | $0.013 | CapitalGainLongTerm |
| Dec 19, 2011 | $0.039 | CapitalGainShortTerm |
| Dec 19, 2011 | $0.222 | CapitalGainLongTerm |
| Dec 10, 2010 | $0.033 | CapitalGainShortTerm |
| Dec 10, 2010 | $0.120 | CapitalGainLongTerm |
| Dec 06, 2007 | $0.035 | CapitalGainShortTerm |
| Dec 06, 2007 | $0.208 | CapitalGainLongTerm |
CPHYX - Fund Manager Analysis
Managers
Mark Denkinger
Start Date
Tenure
Tenure Rank
May 04, 2009
13.08
13.1%
Mark is a portfolio manager at Principal Global Fixed Income, with responsibility for high yield credit and leveraged loans. Previously, Mark was the managing director of fixed income credit research and trading. Mark joined the firm in 1990 and assumed his current role in 2004, having previously served as a portfolio manager and senior research analyst. He received his bachelor's degree in finance and an MBA with a finance emphasis from the University of Iowa. Mark has earned the right to use the CFA designation. He is a member of the CFA Institute and the CFA Society of Iowa.
Darrin Smith
Start Date
Tenure
Tenure Rank
May 04, 2009
13.08
13.1%
Darrin, CFA, is a portfolio manager and a member of the high yield portfolio management team, with responsibility for high yield securities and leveraged loans. Darrin joined the firm in 2007. Previously, Darrin was a vice president and senior portfolio manager at Aviva Capital Management. He received an MBA from Drake University and a bachelor's degree in economics from Iowa State University. Darrin is a member of the CFA Institute and the CFA Society of Iowa. He is a Fellow of the Life Management Institute (FLMI) and a member of the Life Officers' Management Association (LOMA).
Joshua Rank
Start Date
Tenure
Tenure Rank
Jun 12, 2015
6.97
7.0%
Joshua is a high yield portfolio manager at Principal Global Investors. He is responsible for high yield and leveraged loan strategies. Joshua joined the firm in 2013. Prior to his current role, Joshua served as a vice president, senior high yield portfolio manager at Aviva Investors Americas. He received a bachelor's degree in finance from Iowa State University. Joshua holds the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.13 | 37.79 | 7.3 | 8.17 |
