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Name

As of 10/02/2023

Price

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

High Yield Fund

CCHIX | Fund

$6.47

$2.39 B

5.41%

$0.35

1.69%

Vitals

YTD Return

4.6%

1 yr return

8.7%

3 Yr Avg Return

1.5%

5 Yr Avg Return

1.9%

Net Assets

$2.39 B

Holdings in Top 10

14.4%

52 WEEK LOW AND HIGH

$6.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.69%

SALES FEES

Front Load N/A

Deferred Load 1.00%

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 10/02/2023

Price

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

High Yield Fund

CCHIX | Fund

$6.47

$2.39 B

5.41%

$0.35

1.69%

CCHIX - Profile

Distributions

  • YTD Total Return 4.6%
  • 3 Yr Annualized Total Return 1.5%
  • 5 Yr Annualized Total Return 1.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.74%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    High Yield Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Mar 12, 2002
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Darrin Smith

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 those agencies, that rating will determine whether it is below investment grade; if the bond or bank loan has not been rated by either of those agencies, those selecting such investments will determine whether it is of a quality comparable to those rated below investment grade). 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, 2023 was 3.97 years. The Fund is not managed to a particular maturity.
Read More

CCHIX - Performance

Return Ranking - Trailing

Period CCHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -6.1% 10.2% 67.40%
1 Yr 8.7% -12.5% 12.0% 50.66%
3 Yr 1.5%* -21.7% 52.9% 54.57%
5 Yr 1.9%* -14.9% 29.4% 70.12%
10 Yr 3.0%* -9.1% 13.5% 64.69%

* Annualized

Return Ranking - Calendar

Period CCHIX Return Category Return Low Category Return High Rank in Category (%)
2022 -13.3% -33.4% 3.6% 20.59%
2021 0.7% -47.5% 8.2% 29.32%
2020 0.8% -13.2% 302.7% 29.84%
2019 7.3% -4.4% 13.0% 58.85%
2018 -10.0% -18.4% -0.4% 87.48%

Total Return Ranking - Trailing

Period CCHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -5.0% 10.2% 67.40%
1 Yr 8.7% -10.9% 12.7% 50.66%
3 Yr 1.5%* -20.9% 60.2% 54.57%
5 Yr 1.9%* -13.0% 35.7% 70.12%
10 Yr 3.0%* -3.7% 19.4% 64.69%

* Annualized

Total Return Ranking - Calendar

Period CCHIX Return Category Return Low Category Return High Rank in Category (%)
2022 -9.1% -33.4% 6.5% 36.74%
2021 5.4% -47.5% 12.8% 49.23%
2020 5.8% -7.6% 325.6% 50.32%
2019 13.1% -3.8% 19.4% 63.61%
2018 -5.4% -10.7% 4.5% 91.48%

NAV & Total Return History

CCHIX - Holdings

Concentration Analysis

CCHIX Category Low Category High CCHIX % Rank
Net Assets 2.39 B 390 K 71.1 B 18.29%
Number of Holdings 315 2 2736 50.95%
Net Assets in Top 10 345 M -492 M 2.55 B 14.45%
Weighting of Top 10 14.43% 3.0% 100.0% 47.59%

Top 10 Holdings

  1. Principal Government Money Market Fund - Class R-6 5.78%
  2. United States Treasury Note/Bond 1.90%
  3. Medline Borrower LP 0.98%
  4. Tenet Healthcare Corp 0.95%
  5. Smyrna Ready Mix Concrete LLC 0.90%
  6. NRG Energy Inc 0.82%
  7. NCR Corp 0.79%
  8. Acadia Healthcare Co Inc 0.78%
  9. Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp 0.76%
  10. CCO Holdings LLC / CCO Holdings Capital Corp 0.76%

Asset Allocation

Weighting Return Low Return High CCHIX % Rank
Bonds 		93.67% 0.00% 154.38% 62.94%
Cash 		6.22% -52.00% 100.00% 22.19%
Convertible Bonds 		0.48% 0.00% 17.89% 80.15%
Stocks 		0.10% -0.60% 52.82% 62.50%
Other 		0.01% -63.70% 32.06% 38.83%
Preferred Stocks 		0.00% 0.00% 7.09% 44.09%

Stock Sector Breakdown

Weighting Return Low Return High CCHIX % Rank
Utilities 		0.00% 0.00% 100.00% 40.47%
Technology 		0.00% 0.00% 34.19% 43.95%
Real Estate 		0.00% 0.00% 86.71% 31.40%
Industrials 		0.00% 0.00% 100.00% 50.00%
Healthcare 		0.00% 0.00% 22.17% 34.88%
Financial Services 		0.00% 0.00% 100.00% 43.02%
Energy 		0.00% 0.00% 100.00% 2.56%
Communication Services 		0.00% 0.00% 99.99% 62.09%
Consumer Defense 		0.00% 0.00% 100.00% 34.42%
Consumer Cyclical 		0.00% 0.00% 100.00% 50.23%
Basic Materials 		0.00% 0.00% 100.00% 42.56%

Stock Geographic Breakdown

Weighting Return Low Return High CCHIX % Rank
US 		0.10% -0.60% 47.59% 60.88%
Non US 		0.00% -0.01% 5.26% 18.69%

Bond Sector Breakdown

Weighting Return Low Return High CCHIX % Rank
Corporate 		95.87% 0.00% 129.69% 42.98%
Cash & Equivalents 		6.02% 0.00% 99.98% 21.31%
Securitized 		0.31% 0.00% 97.24% 30.41%
Derivative 		0.01% 0.00% 45.95% 23.50%
Municipal 		0.00% 0.00% 4.66% 12.72%
Government 		0.00% 0.00% 99.07% 38.60%

Bond Geographic Breakdown

Weighting Return Low Return High CCHIX % Rank
US 		93.17% 0.00% 150.64% 48.76%
Non US 		0.50% 0.00% 118.12% 36.79%

CCHIX - Expenses

Operational Fees

CCHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.69% 0.03% 18.97% 17.40%
Management Fee 0.51% 0.00% 1.84% 38.43%
12b-1 Fee 1.00% 0.00% 1.00% 76.76%
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

CCHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 6.98%

Trading Fees

CCHIX 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.

CCHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 63.00% 1.00% 255.00% 44.01%

CCHIX - Distributions

Dividend Yield Analysis

CCHIX Category Low Category High CCHIX % Rank
Dividend Yield 5.41% 0.00% 37.17% 77.94%

Dividend Distribution Analysis

CCHIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

CCHIX Category Low Category High CCHIX % Rank
Net Income Ratio 3.74% -2.39% 14.30% 79.79%

Capital Gain Distribution Analysis

CCHIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

CCHIX - Fund Manager Analysis

Managers

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).

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.

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 7.15 8.17

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