Principal Preferred Securities P
Name
As ofPrice
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
N/A
1 yr return
8.5%
3 Yr Avg Return
6.0%
5 Yr Avg Return
7.9%
Net Assets
$5.78 B
Holdings in Top 10
17.5%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.82%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 13.90%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As ofPrice
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PPSPX - Profile
Distributions
- YTD Total Return N/A
- 3 Yr Annualized Total Return 6.0%
- 5 Yr Annualized Total Return 7.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 5.08%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePrincipal Preferred Securities Fund
-
Fund Family NamePrincipal Funds
-
Inception DateSep 27, 2010
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerManu Krishnan
Fund Description
PPSPX - Performance
Return Ranking - Trailing
Period | PPSPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | 5.0% | 22.1% | N/A |
1 Yr | 8.5% | -8.1% | 7.3% | N/A |
3 Yr | 6.0%* | -4.7% | 9.0% | N/A |
5 Yr | 7.9%* | -4.2% | 4.2% | N/A |
10 Yr | 6.8%* | -0.1% | 7.6% | N/A |
* Annualized
Return Ranking - Calendar
Period | PPSPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -15.3% | -2.5% | N/A |
2022 | N/A | -7.8% | 14.8% | N/A |
2021 | N/A | -2.1% | 8.7% | N/A |
2020 | N/A | -17.9% | 1.4% | N/A |
2019 | N/A | -6.8% | 10.0% | N/A |
Total Return Ranking - Trailing
Period | PPSPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | N/A | 5.0% | 22.1% | N/A |
1 Yr | 8.5% | -7.7% | 13.7% | N/A |
3 Yr | 6.0%* | -0.2% | 15.0% | N/A |
5 Yr | 7.9%* | -1.8% | 10.3% | N/A |
10 Yr | 6.8%* | 2.3% | 16.7% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | PPSPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | N/A | -15.2% | 4.5% | N/A |
2022 | N/A | 0.9% | 18.3% | N/A |
2021 | N/A | -2.1% | 20.1% | N/A |
2020 | N/A | -17.2% | 6.2% | N/A |
2019 | N/A | -2.2% | 23.8% | N/A |
PPSPX - Holdings
Concentration Analysis
PPSPX | Category Low | Category High | PPSPX % Rank | |
---|---|---|---|---|
Net Assets | 5.78 B | 45.7 M | 7.62 B | N/A |
Number of Holdings | 294 | 15 | 323 | N/A |
Net Assets in Top 10 | 964 M | 22.8 M | 1.08 B | N/A |
Weighting of Top 10 | 17.54% | 15.5% | 91.1% | N/A |
Top 10 Holdings
- Jpmorgan Chase FRN 2.87%
- General Elec FRN 2.46%
- Centaur Fdg Pfd 144A 2.13%
- Nationwide Finl Svcs FRN 1.57%
- Rabobank Nederland 144A FRN 1.53%
- Bk New York Mellon FRN 1.45%
- Credit Suisse Intl 144A Cv 1.43%
- Wells Fargo & Co, San Francisco Ca Pfd 1.41%
- Prudential Finl FRN 1.36%
- Barclays Cv FRN 1.34%
Asset Allocation
Weighting | Return Low | Return High | PPSPX % Rank | |
---|---|---|---|---|
Bonds | 41.90% | 0.00% | 67.73% | N/A |
Preferred Stocks | 36.48% | 0.00% | 81.38% | N/A |
Convertible Bonds | 11.71% | 1.11% | 98.86% | N/A |
Stocks | 5.25% | 0.00% | 29.12% | N/A |
Cash | 4.60% | -2.58% | 10.26% | N/A |
Other | 0.05% | 0.00% | 7.34% | N/A |
Stock Sector Breakdown
Weighting | Return Low | Return High | PPSPX % Rank | |
---|---|---|---|---|
Financial Services | 3.02% | 0.00% | 1.65% | N/A |
Industrials | 0.55% | 0.00% | 3.10% | N/A |
Utilities | 0.53% | 0.00% | 8.38% | N/A |
Communication Services | 0.46% | 0.00% | 1.34% | N/A |
Real Estate | 0.07% | 0.00% | 27.18% | N/A |
Technology | 0.00% | 0.00% | 3.87% | N/A |
Healthcare | 0.00% | 0.00% | 2.28% | N/A |
Energy | 0.00% | 0.00% | 1.17% | N/A |
Consumer Defense | 0.00% | 0.00% | 1.32% | N/A |
Consumer Cyclical | 0.00% | 0.00% | 3.86% | N/A |
Basic Materials | 0.00% | 0.00% | 1.60% | N/A |
Stock Geographic Breakdown
Weighting | Return Low | Return High | PPSPX % Rank | |
---|---|---|---|---|
US | 4.53% | 0.00% | 29.12% | N/A |
Non US | 0.72% | 0.00% | 3.95% | N/A |
Bond Sector Breakdown
Weighting | Return Low | Return High | PPSPX % Rank | |
---|---|---|---|---|
Corporate | 89.81% | 11.08% | 99.76% | N/A |
Cash & Equivalents | 4.60% | -2.58% | 9.96% | N/A |
Derivative | 0.05% | 0.00% | 1.99% | N/A |
Securitized | 0.00% | 0.00% | 59.40% | N/A |
Municipal | 0.00% | 0.00% | 0.00% | N/A |
Government | 0.00% | 0.00% | 2.43% | N/A |
Bond Geographic Breakdown
Weighting | Return Low | Return High | PPSPX % Rank | |
---|---|---|---|---|
US | 25.76% | 0.00% | 63.67% | N/A |
Non US | 16.14% | 0.00% | 22.35% | N/A |
PPSPX - Expenses
Operational Fees
PPSPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.82% | 0.46% | 4.01% | N/A |
Management Fee | 0.70% | 0.26% | 1.15% | N/A |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.30% | N/A |
Sales Fees
PPSPX 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% | 5.00% | N/A |
Trading Fees
PPSPX 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.
PPSPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 13.90% | 7.00% | 213.00% | N/A |
PPSPX - Distributions
Dividend Yield Analysis
PPSPX | Category Low | Category High | PPSPX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 0.05% | N/A |
Dividend Distribution Analysis
PPSPX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Quarterly |
Net Income Ratio Analysis
PPSPX | Category Low | Category High | PPSPX % Rank | |
---|---|---|---|---|
Net Income Ratio | 5.08% | -0.03% | 5.51% | N/A |
Capital Gain Distribution Analysis
PPSPX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
May 25, 2017 | $0.042 | |
Apr 25, 2017 | $0.044 | |
Mar 28, 2017 | $0.040 | |
Feb 23, 2017 | $0.040 | |
Jan 26, 2017 | $0.041 | |
Dec 28, 2016 | $0.039 | |
Nov 30, 2016 | $0.044 | |
Oct 31, 2016 | $0.042 | |
Sep 30, 2016 | $0.040 | |
Aug 31, 2016 | $0.038 | |
Jul 29, 2016 | $0.039 | |
Jun 30, 2016 | $0.039 | |
May 31, 2016 | $0.038 | |
Apr 29, 2016 | $0.041 | |
Mar 31, 2016 | $0.041 | |
Feb 29, 2016 | $0.042 | |
Jan 29, 2016 | $0.042 | |
Dec 28, 2015 | $0.051 | |
Nov 30, 2015 | $0.041 | |
Oct 30, 2015 | $0.042 | |
Sep 30, 2015 | $0.043 | |
Aug 31, 2015 | $0.039 | |
Jul 31, 2015 | $0.040 | |
Jun 30, 2015 | $0.045 | |
May 29, 2015 | $0.045 | |
Apr 30, 2015 | $0.044 | |
Mar 31, 2015 | $0.043 | |
Feb 27, 2015 | $0.042 | |
Jan 30, 2015 | $0.044 | |
Dec 29, 2014 | $0.050 | |
Nov 26, 2014 | $0.049 | |
Oct 31, 2014 | $0.050 | |
Sep 30, 2014 | $0.046 | |
Aug 29, 2014 | $0.042 | |
Jul 31, 2014 | $0.041 | |
Jun 30, 2014 | $0.041 | |
May 30, 2014 | $0.041 | |
Apr 30, 2014 | $0.042 | |
Mar 31, 2014 | $0.043 | |
Feb 28, 2014 | $0.045 | |
Jan 31, 2014 | $0.046 | |
Dec 27, 2013 | $0.053 | |
Nov 29, 2013 | $0.053 | |
Oct 31, 2013 | $0.053 | |
Sep 30, 2013 | $0.052 | |
Aug 30, 2013 | $0.046 | |
Jul 31, 2013 | $0.044 | |
Jun 28, 2013 | $0.041 | |
May 31, 2013 | $0.042 | |
Apr 30, 2013 | $0.043 | |
Mar 28, 2013 | $0.046 | |
Feb 28, 2013 | $0.046 | |
Jan 31, 2013 | $0.048 | |
Dec 27, 2012 | $0.053 | |
Nov 30, 2012 | $0.054 | |
Oct 31, 2012 | $0.054 | |
Sep 28, 2012 | $0.055 | |
Aug 31, 2012 | $0.046 | |
Jul 31, 2012 | $0.046 | |
Jun 29, 2012 | $0.048 | |
May 31, 2012 | $0.047 | |
Apr 30, 2012 | $0.045 | |
Mar 30, 2012 | $0.046 | |
Feb 29, 2012 | $0.046 | |
Jan 31, 2012 | $0.048 | |
Dec 27, 2011 | $0.056 | |
Nov 30, 2011 | $0.055 | |
Oct 31, 2011 | $0.055 | |
Sep 30, 2011 | $0.054 | |
Aug 31, 2011 | $0.051 | |
Jul 29, 2011 | $0.049 | |
Jun 30, 2011 | $0.050 | |
May 31, 2011 | $0.047 | |
Apr 29, 2011 | $0.049 | |
Mar 31, 2011 | $0.048 | |
Feb 28, 2011 | $0.050 | |
Jan 31, 2011 | $0.051 | |
Dec 31, 2010 | $0.055 | |
Nov 30, 2010 | $0.052 | |
Oct 29, 2010 | $0.051 | |
Sep 30, 2010 | $0.051 |
PPSPX - Fund Manager Analysis
Managers
Manu Krishnan
Start Date
Tenure
Tenure Rank
Dec 31, 2010
6.42
6.4%
Manu Krishnan, CFA - Portfolio Manager and Portfolio Risk Manager Mr. Krishnan is a Portfolio Manager and Portfolio Risk Manager at Spectrum Asset Management. Prior to joining Spectrum in 2004, Manu was an Operational Analyst with the Strategy and Analysis group at Capital One Financial Corporation. Manu also worked as a software development engineer with the MathWorks, Inc. for three years developing algorithms for control and embedded systems. He received an MBA in Finance from Cornell University, an M.S. in Mechanical Engineering from the University of Delaware, a B.S. in Mechanical Engineering from the College of Engineering at Osmania University, India. He has earned the right to use the Chartered Financial Analyst designation.
Roberto Giangregorio
Start Date
Tenure
Tenure Rank
Dec 31, 2010
6.42
6.4%
Bob Giangregorio - Portfolio Manager Mr. Giangregorio is a Portfolio Manager at Spectrum Asset Management. Mr. Giangregorio joined Spectrum in 2003 after receiving his MBA. Mr. Giangregorio was an intern with the Cayuga MBA Fund LLC where he covered Utility Sector equities. He also worked for the Ford Motor Company for over eight years as an engine design engineer. He received a BS in Mechanical Engineering from S.U.N.Y. at Stony Brook and an MS in Mechanical Engineering from the University of Wisconsin-Madison. He also received an MBA with a distinction in Finance from Cornell University.
Kevin Nugent
Start Date
Tenure
Tenure Rank
Dec 01, 2014
2.5
2.5%
Kevin Nugent Mr. Nugent has been a Guaranteed Introducing Broker with MF Global through Nugent Investment Group, LLC, since 2002. Additionally, since 2007 he has been a portfolio manager at Huntington Bay Capital Management and HFP Investment Management, with an emphasis on trading a proprietary volatility strategy for a hedge fund.He has held senior positions at Smith Barney, UBS and Prudential Securities where he developed low risk market strategies by using a proprietary trading model and statistical analysis. He also has extensive experience in developing various hedging strategies for commercial and institutional clients. Mr. Nugent graduated in 1981 with a Bachelor of Arts degree from Ohio Wesleyan University. He holds a Series 3 (National Commodities Futures) license. He is NASD Series 65 (Uniform Investment Advisor Law Examination) examination qualified.
Fernando Diaz
Start Date
Tenure
Tenure Rank
Dec 31, 2010
6.42
6.4%
Fernando “Fred†Diaz - Vice President and Portfolio Manager Mr. Diaz is Vice President and a Portfolio Manager at Spectrum Asset Management. Prior to joining Spectrum in 2000, Mr. Diaz was head of preferred trading at both Spear, Leeds & Kellogg and Pershing, a division of DLJ, where he initiated preferred trading operations at both firms. Mr. Diaz also worked at Goldman Sachs as an analyst in the Investment Banking division and in the Preferred Stock Department as a trader and product analyst.
Mark A. Lieb
Start Date
Tenure
Tenure Rank
Jul 01, 2009
7.92
7.9%
Prior to founding Spectrum in 1987, Mr. Lieb was a Founder, Director and Partner of DBL Preferred Management, Inc., a wholly owned corporate cash management subsidiary of Drexel Burnham Lambert, Inc. Mr. Lieb was instrumental in the formation and development of all aspects of DBL Preferred Management, Inc., including the daily management of preferred stock portfolios for institutional clients, hedging strategies, and marketing strategies. Mr. Lieb's prior employment included the development of the preferred stock trading desk at Mosley Hallgarten & Estabrook. Mr. Lieb holds a BA in Economics from Central Connecticut State College and a MBA (Finance) from the University of Hartford.
L. Phillip Jacoby
Start Date
Tenure
Tenure Rank
May 01, 2002
15.09
15.1%
Mr. Jacoby joined Spectrum in 1995 as a Portfolio Manager and most recently held the position of Managing Director and Senior Portfolio Manager until his appointment as CIO on January 1, 2010, following the planned retirement of his predecessor. Prior to joining Spectrum, Mr. Jacoby was a Senior Investment Officer at USL Capital Corporation (a subsidiary of Ford Motor Corporation) and co-manager of the preferred stock portfolio of its US Corporate Financing Division for six years. Mr. Jacoby began his career in 1981 with The Northern Trust Company, Chicago and then moved to Los Angeles to join E.F. Hutton & Co. as a Vice President and Institutional Salesman, Generalist Fixed Income Sales through most of the 1980s. Mr. Jacoby holds a BSBA (Finance) from the Boston University School of Management."
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.25 | 34.05 | 9.6 | 8.5 |