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Core Plus Bond Fund fka Bond & Mortgage Securities Fund
mutual fund
PMSIX
Payout Change
Pending
Price as of:
$9.17
+0.02
+0.22%
primary theme
U.S. Intermediate-Term Bond Duration
share class
PMSIX (Mutual Fund)
Core Plus Bond Fund fka Bond & Mortgage Securities Fund
Payout Change
Pending
Price as of:
$9.17
+0.02
+0.22%
primary theme
U.S. Intermediate-Term Bond Duration
share class
PMSIX (Mutual Fund)
Core Plus Bond Fund fka Bond & Mortgage Securities Fund
Payout Change
Pending
Price as of:
$9.17
+0.02
+0.22%
primary theme
U.S. Intermediate-Term Bond Duration
share class
Name
As of 12/06/2024Price
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
3.2%
1 yr return
6.3%
3 Yr Avg Return
-2.3%
5 Yr Avg Return
0.4%
Net Assets
$572 M
Holdings in Top 10
15.4%
52 WEEK LOW AND HIGH
$9.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.59%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 181.50%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/06/2024Price
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
PMSIX - Profile
Distributions
- YTD Total Return 3.2%
- 3 Yr Annualized Total Return -2.3%
- 5 Yr Annualized Total Return 0.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.85%
- Dividend Yield 4.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameCore Plus Bond Fund fka Bond & Mortgage Securities Fund
-
Fund Family NamePrincipal Funds
-
Inception DateSep 24, 2002
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWilliam Armstrong
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds or other debt securities at the time of purchase. Such investments include securities issued or guaranteed by the U.S. government or its agencies or instrumentalities; asset-backed securities and mortgage-backed securities (securitized products, including collateralized mortgage obligations); corporate bonds; and foreign securities, including emerging market securities. The Fund invests in investment-grade securities and, with respect to up to 25% of its assets, in below-investment-grade securities (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 security has been rated by only one of the rating agencies, that rating will determine the security’s rating; if the security is rated differently by the rating agencies, the highest rating will be used; and if the security has not been rated by either of the rating agencies, those selecting such investments will determine the security’s quality. The Fund is not managed to a particular maturity. Under normal circumstances, the Fund maintains an average portfolio duration that is within ±25% of the duration of the Bloomberg U.S. Aggregate Bond Index, which as of January 31, 2024 was 6.11 years. The Fund’s strategies may result in the active and frequent trading of the Fund’s portfolio securities.
The Fund enters into dollar roll transactions, which may involve leverage. The Fund invests in derivatives, including Treasury futures and interest rate swaps to manage the fixed-income exposure (including for hedging purposes) and credit default swaps to increase or decrease, in an efficient manner, exposures to certain sectors or individual issuers. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index.
PMSIX - Performance
Return Ranking - Trailing
| Period | PMSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.2% | -6.1% | 11.5% | 84.04% |
| 1 Yr | 6.3% | -3.5% | 15.7% | 70.47% |
| 3 Yr | -2.3%* | -10.5% | 28.4% | 77.21% |
| 5 Yr | 0.4%* | -7.2% | 59.0% | 49.48% |
| 10 Yr | 1.8%* | -2.8% | 74.1% | 37.20% |
* Annualized
Return Ranking - Calendar
| Period | PMSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.0% | -16.2% | 8.1% | 56.44% |
| 2022 | -16.4% | -34.7% | 131.9% | 61.81% |
| 2021 | -3.8% | -11.6% | 4.4% | 70.08% |
| 2020 | 2.1% | -9.9% | 946.1% | 85.50% |
| 2019 | 5.9% | -1.7% | 16.9% | 41.06% |
Total Return Ranking - Trailing
| Period | PMSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.2% | -6.1% | 11.5% | 84.04% |
| 1 Yr | 6.3% | -3.5% | 15.7% | 70.47% |
| 3 Yr | -2.3%* | -10.5% | 28.4% | 77.21% |
| 5 Yr | 0.4%* | -7.2% | 59.0% | 49.48% |
| 10 Yr | 1.8%* | -2.8% | 74.1% | 37.20% |
* Annualized
Total Return Ranking - Calendar
| Period | PMSIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.4% | -11.3% | 11.9% | 73.28% |
| 2022 | -14.1% | -32.2% | 131.9% | 66.28% |
| 2021 | -0.5% | -9.4% | 9.2% | 32.04% |
| 2020 | 10.5% | -1.9% | 1009.0% | 13.46% |
| 2019 | 10.1% | 1.1% | 21668.0% | 15.85% |
NAV & Total Return History
PMSIX - Holdings
Concentration Analysis
| PMSIX | Category Low | Category High | PMSIX % Rank | |
|---|---|---|---|---|
| Net Assets | 572 M | 2.9 M | 314 B | 65.18% |
| Number of Holdings | 810 | 1 | 17880 | 47.56% |
| Net Assets in Top 10 | 87.4 M | 1.62 M | 35.1 B | 74.25% |
| Weighting of Top 10 | 15.44% | 4.7% | 3984.6% | 80.50% |
Top 10 Holdings
- Principal Government Money Market Fund - Class R-6 4.08%
- Ginnie Mae II pool 1.73%
- Fannie Mae or Freddie Mac 1.61%
- Ginnie Mae 1.54%
- Fannie Mae or Freddie Mac 1.29%
- United States Treasury Bill 1.15%
- Ginnie Mae II Pool 1.07%
- Discover Card Execution Note Trust 1.07%
- Fannie Mae or Freddie Mac 0.99%
- JP Morgan Mortgage Trust 2024-2 0.92%
Asset Allocation
| Weighting | Return Low | Return High | PMSIX % Rank | |
|---|---|---|---|---|
| Bonds | 92.66% | 0.00% | 9231.88% | 64.56% |
| Other | 12.94% | -27.25% | 1695.17% | 18.69% |
| Cash | 4.24% | -54.51% | 237.69% | 37.07% |
| Convertible Bonds | 3.27% | 0.00% | 7.93% | 6.90% |
| Preferred Stocks | 0.62% | 0.00% | 72.34% | 7.68% |
| Stocks | 0.01% | 0.00% | 99.98% | 31.50% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PMSIX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 59.89% |
| Technology | 0.00% | 0.00% | 43.45% | 57.75% |
| Real Estate | 0.00% | 0.00% | 99.26% | 55.08% |
| Industrials | 0.00% | 0.00% | 48.31% | 67.91% |
| Healthcare | 0.00% | 0.00% | 17.70% | 54.01% |
| Financial Services | 0.00% | 0.00% | 100.00% | 66.31% |
| Energy | 0.00% | 0.00% | 100.00% | 10.16% |
| Communication Services | 0.00% | 0.00% | 100.00% | 60.43% |
| Consumer Defense | 0.00% | 0.00% | 99.67% | 55.61% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 61.50% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 57.75% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PMSIX % Rank | |
|---|---|---|---|---|
| US | 0.01% | 0.00% | 99.98% | 30.01% |
| Non US | 0.00% | 0.00% | 88.46% | 3.84% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | PMSIX % Rank | |
|---|---|---|---|---|
| Corporate | 44.97% | 0.00% | 100.00% | 16.00% |
| Securitized | 31.43% | 0.00% | 98.40% | 44.14% |
| Government | 14.28% | 0.00% | 86.23% | 76.36% |
| Cash & Equivalents | 4.24% | 0.00% | 237.69% | 36.34% |
| Derivative | 0.63% | -6.56% | 44.82% | 10.28% |
| Municipal | 0.00% | 0.00% | 100.00% | 82.95% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | PMSIX % Rank | |
|---|---|---|---|---|
| US | 92.66% | 0.00% | 9042.62% | 56.07% |
| Non US | 0.00% | 0.00% | 189.26% | 61.68% |
PMSIX - Expenses
Operational Fees
| PMSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.59% | 0.01% | 39.64% | 60.71% |
| Management Fee | 0.42% | 0.00% | 1.76% | 75.87% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
| PMSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| PMSIX 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.
| PMSIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 181.50% | 2.00% | 493.39% | 62.50% |
PMSIX - Distributions
Dividend Yield Analysis
| PMSIX | Category Low | Category High | PMSIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.85% | 0.00% | 10.11% | 60.31% |
Dividend Distribution Analysis
| PMSIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| PMSIX | Category Low | Category High | PMSIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.85% | -1.28% | 4.79% | 39.87% |
Capital Gain Distribution Analysis
| PMSIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 22, 2024 | $0.037 | OrdinaryDividend |
| Oct 28, 2024 | $0.030 | OrdinaryDividend |
| Sep 25, 2024 | $0.033 | OrdinaryDividend |
| Aug 27, 2024 | $0.032 | OrdinaryDividend |
| Jul 26, 2024 | $0.033 | OrdinaryDividend |
| Apr 25, 2024 | $0.030 | OrdinaryDividend |
| Mar 25, 2024 | $0.030 | OrdinaryDividend |
| Feb 26, 2024 | $0.027 | OrdinaryDividend |
| Jan 26, 2024 | $0.026 | OrdinaryDividend |
| Dec 27, 2023 | $0.035 | OrdinaryDividend |
| Nov 27, 2023 | $0.030 | OrdinaryDividend |
| Oct 26, 2023 | $0.028 | OrdinaryDividend |
| Sep 26, 2023 | $0.026 | OrdinaryDividend |
| Aug 28, 2023 | $0.026 | OrdinaryDividend |
| Jul 26, 2023 | $0.024 | OrdinaryDividend |
| Jun 27, 2023 | $0.023 | OrdinaryDividend |
| May 25, 2023 | $0.023 | OrdinaryDividend |
| Apr 25, 2023 | $0.022 | OrdinaryDividend |
| Mar 28, 2023 | $0.021 | OrdinaryDividend |
| Feb 23, 2023 | $0.018 | OrdinaryDividend |
| Jan 26, 2023 | $0.022 | OrdinaryDividend |
| Dec 28, 2022 | $0.031 | OrdinaryDividend |
| Nov 23, 2022 | $0.029 | OrdinaryDividend |
| Oct 31, 2022 | $0.020 | OrdinaryDividend |
| Sep 30, 2022 | $0.018 | OrdinaryDividend |
| Aug 31, 2022 | $0.013 | OrdinaryDividend |
| Jul 29, 2022 | $0.018 | OrdinaryDividend |
| Jun 30, 2022 | $0.018 | OrdinaryDividend |
| May 31, 2022 | $0.017 | OrdinaryDividend |
| Apr 29, 2022 | $0.019 | OrdinaryDividend |
| Mar 31, 2022 | $0.019 | OrdinaryDividend |
| Feb 28, 2022 | $0.016 | OrdinaryDividend |
| Jan 31, 2022 | $0.018 | OrdinaryDividend |
| Dec 31, 2021 | $0.022 | OrdinaryDividend |
| Dec 20, 2021 | $0.129 | OrdinaryDividend |
| Nov 30, 2021 | $0.019 | OrdinaryDividend |
| Oct 29, 2021 | $0.021 | OrdinaryDividend |
| Sep 30, 2021 | $0.021 | OrdinaryDividend |
| Aug 31, 2021 | $0.020 | OrdinaryDividend |
| Jul 30, 2021 | $0.020 | OrdinaryDividend |
| Jun 30, 2021 | $0.019 | OrdinaryDividend |
| May 28, 2021 | $0.018 | OrdinaryDividend |
| Apr 30, 2021 | $0.020 | OrdinaryDividend |
| Mar 31, 2021 | $0.017 | OrdinaryDividend |
| Feb 26, 2021 | $0.015 | OrdinaryDividend |
| Jan 29, 2021 | $0.015 | OrdinaryDividend |
| Dec 31, 2020 | $0.020 | OrdinaryDividend |
| Dec 18, 2020 | $0.532 | OrdinaryDividend |
| Nov 30, 2020 | $0.019 | OrdinaryDividend |
| Oct 30, 2020 | $0.027 | OrdinaryDividend |
| Sep 30, 2020 | $0.021 | OrdinaryDividend |
| Aug 31, 2020 | $0.023 | OrdinaryDividend |
| Jul 31, 2020 | $0.028 | OrdinaryDividend |
| Jun 30, 2020 | $0.027 | OrdinaryDividend |
| May 29, 2020 | $0.021 | OrdinaryDividend |
| Apr 30, 2020 | $0.025 | OrdinaryDividend |
| Mar 31, 2020 | $0.024 | OrdinaryDividend |
| Feb 28, 2020 | $0.024 | OrdinaryDividend |
| Jan 31, 2020 | $0.028 | OrdinaryDividend |
| Dec 31, 2019 | $0.084 | OrdinaryDividend |
| Nov 29, 2019 | $0.035 | OrdinaryDividend |
| Oct 31, 2019 | $0.026 | OrdinaryDividend |
| Sep 30, 2019 | $0.028 | OrdinaryDividend |
| Aug 30, 2019 | $0.032 | OrdinaryDividend |
| Jul 31, 2019 | $0.030 | OrdinaryDividend |
| Dec 31, 2007 | $0.047 | DailyAccrualFund |
| Nov 30, 2007 | $0.049 | OrdinaryDividend |
| Oct 31, 2007 | $0.048 | OrdinaryDividend |
| Sep 28, 2007 | $0.047 | OrdinaryDividend |
| Aug 31, 2007 | $0.041 | OrdinaryDividend |
| Jul 31, 2007 | $0.059 | OrdinaryDividend |
| Jun 29, 2007 | $0.054 | OrdinaryDividend |
| May 31, 2007 | $0.054 | OrdinaryDividend |
| Apr 30, 2007 | $0.049 | OrdinaryDividend |
| Mar 30, 2007 | $0.050 | OrdinaryDividend |
| Feb 28, 2007 | $0.031 | OrdinaryDividend |
| Jan 31, 2007 | $0.035 | OrdinaryDividend |
| Dec 29, 2006 | $0.049 | OrdinaryDividend |
| Nov 30, 2006 | $0.053 | OrdinaryDividend |
| Oct 31, 2006 | $0.048 | OrdinaryDividend |
| Sep 29, 2006 | $0.048 | OrdinaryDividend |
| Aug 31, 2006 | $0.048 | OrdinaryDividend |
| Jul 31, 2006 | $0.044 | OrdinaryDividend |
| Jun 30, 2006 | $0.042 | OrdinaryDividend |
| May 31, 2006 | $0.039 | OrdinaryDividend |
| Apr 28, 2006 | $0.037 | OrdinaryDividend |
| Mar 31, 2006 | $0.044 | OrdinaryDividend |
| Feb 28, 2006 | $0.034 | OrdinaryDividend |
| Jan 31, 2006 | $0.034 | OrdinaryDividend |
| Nov 30, 2005 | $0.035 | OrdinaryDividend |
| Oct 31, 2005 | $0.035 | OrdinaryDividend |
| Sep 30, 2005 | $0.034 | OrdinaryDividend |
| Aug 31, 2005 | $0.034 | OrdinaryDividend |
| Jul 29, 2005 | $0.023 | OrdinaryDividend |
| Jun 29, 2005 | $0.043 | OrdinaryDividend |
| May 31, 2005 | $0.050 | OrdinaryDividend |
| Apr 29, 2005 | $0.050 | OrdinaryDividend |
| Mar 31, 2005 | $0.015 | OrdinaryDividend |
| Feb 23, 2005 | $0.032 | OrdinaryDividend |
| Jan 21, 2005 | $0.030 | OrdinaryDividend |
| Dec 23, 2004 | $0.040 | OrdinaryDividend |
| Dec 06, 2004 | $0.007 | CapitalGainLongTerm |
| Nov 23, 2004 | $0.045 | OrdinaryDividend |
| Oct 22, 2004 | $0.045 | OrdinaryDividend |
| Sep 23, 2004 | $0.033 | OrdinaryDividend |
| Aug 23, 2004 | $0.028 | OrdinaryDividend |
| Jul 23, 2004 | $0.023 | OrdinaryDividend |
| Jun 23, 2004 | $0.023 | OrdinaryDividend |
| May 21, 2004 | $0.035 | OrdinaryDividend |
| Apr 23, 2004 | $0.040 | OrdinaryDividend |
| Mar 23, 2004 | $0.040 | OrdinaryDividend |
| Feb 23, 2004 | $0.033 | OrdinaryDividend |
| Jan 23, 2004 | $0.033 | OrdinaryDividend |
| Dec 23, 2003 | $0.040 | OrdinaryDividend |
| Nov 21, 2003 | $0.033 | OrdinaryDividend |
| Oct 23, 2003 | $0.033 | OrdinaryDividend |
| Sep 23, 2003 | $0.035 | OrdinaryDividend |
| Aug 22, 2003 | $0.033 | OrdinaryDividend |
| Jul 23, 2003 | $0.033 | OrdinaryDividend |
| Jun 23, 2003 | $0.033 | OrdinaryDividend |
| May 23, 2003 | $0.036 | OrdinaryDividend |
| Apr 23, 2003 | $0.037 | OrdinaryDividend |
| Mar 21, 2003 | $0.037 | OrdinaryDividend |
| Feb 21, 2003 | $0.037 | OrdinaryDividend |
| Jan 23, 2003 | $0.033 | OrdinaryDividend |
| Dec 23, 2002 | $0.033 | OrdinaryDividend |
| Nov 22, 2002 | $0.039 | OrdinaryDividend |
| Oct 23, 2002 | $0.039 | OrdinaryDividend |
PMSIX - Fund Manager Analysis
Managers
William Armstrong
Start Date
Tenure
Tenure Rank
Dec 06, 2000
21.5
21.5%
William C. Armstrong, CFA - Portfolio Manager Bill is a portfolio manager for Principal Global Fixed Income. He manages multi-sector portfolios that invest in corporate bonds, mortgage-backed securities, commercial mortgage-backed securities, asset-backed securities, sovereigns, and agencies. Bill joined the firm in 1992. Previously, he served as a commissioned bank examiner at Federal Deposit Insurance Commission. Bill received an MBA from the University of Iowa and a bachelor's degree from Kearney State College. He has earned the right to use the Chartered Financial Analyst designation. Bill is a member of the CFA Institute and the CFA Society of Iowa, of which he formerly served as president.
Bryan Davis
Start Date
Tenure
Tenure Rank
Mar 25, 2022
0.18
0.2%
Davis is a senior trader/research analyst for Principal Global Investors. He is responsible for trading mortgage-backed securities and developing investment strategies related to mortgages and derivatives. Davis joined the firm in 1993 as a servicing valuation director for Principal Residential Mortgage. He earned a bachelor’s degree in Finance from the University of Iowa. He has earned the right to use the Chartered Financial Analyst esignation and is a member of the CFA Institute.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.77 | 1.16 |
