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Name

As of 09/22/2023

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

Government & High Quality Bond Fund (f/k/a Mortgage Securities Fund)

CMPGX | Fund

$8.57

$612 M

2.67%

$0.23

0.79%

Vitals

YTD Return

-1.5%

1 yr return

1.3%

3 Yr Avg Return

-5.3%

5 Yr Avg Return

-1.2%

Net Assets

$612 M

Holdings in Top 10

23.8%

52 WEEK LOW AND HIGH

$8.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.79%

SALES FEES

Front Load 2.25%

Deferred Load N/A

TRADING FEES

Turnover 343.70%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$1,000

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 09/22/2023

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

Government & High Quality Bond Fund (f/k/a Mortgage Securities Fund)

CMPGX | Fund

$8.57

$612 M

2.67%

$0.23

0.79%

CMPGX - Profile

Distributions

  • YTD Total Return -1.5%
  • 3 Yr Annualized Total Return -5.3%
  • 5 Yr Annualized Total Return -1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.32%
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Government & High Quality Bond Fund (f/k/a Mortgage Securities Fund)
  • Fund Family Name
    Principal Funds
  • Inception Date
    Jan 03, 1994
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Zach Gassmann

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in debt securities issued by the U.S. government, its agencies, or instrumentalities or debt securities that are rated, at the time of purchase, AAA by S&P Global Ratings (“S&P Global”) or Aaa by Moody’s Investors Service, Inc. (“Moody’s”) (if securities are rated differently by S&P Global and Moody’s, the highest rating is used; or, if unrated, in the opinion of those selecting such investments, are of comparable quality), including, but not limited to, asset-backed securities (“ABS”), mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage-backed securities (“MBS”) (also referred to as securitized products). The Fund also invests in ABS and MBS that are rated lower than AAA by S&P Global or Aaa by Moody’s (or of comparable quality), including collateralized mortgage obligations, and in other obligations that are secured by mortgages or MBS. The MBS in which the Fund invests include MBS trading in the to-be-announced (“TBA”) markets.Under normal circumstances, the Fund maintains an average portfolio duration that is within ±50% of the duration of the Bloomberg U.S. Agency Fixed Rate MBS Index, which as of January 31, 2023 was 6.27 years. The Fund is not managed to a particular maturity. The Fund’s strategies may result in the active and frequent trading of the Fund’s portfolio securities.The Fund invests in derivatives, including Treasury futures and securities delivered in TBA transactions, to manage the fixed-income exposure. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index.
Read More

CMPGX - Performance

Return Ranking - Trailing

Period CMPGX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.5% -24.0% 13.8% 67.67%
1 Yr 1.3% -9.9% 5.2% 47.84%
3 Yr -5.3%* -8.8% 5.2% 62.67%
5 Yr -1.2%* -4.1% 3.1% 87.44%
10 Yr 0.0%* -2.7% 3.8% 72.78%

* Annualized

Return Ranking - Calendar

Period CMPGX Return Category Return Low Category Return High Rank in Category (%)
2022 -13.5% -22.8% 1.0% 45.02%
2021 -2.8% -18.7% 16.6% 38.50%
2020 0.5% -22.8% 8.8% 97.26%
2019 3.6% -20.9% 7.1% 39.35%
2018 -2.1% -21.9% 0.2% 72.33%

Total Return Ranking - Trailing

Period CMPGX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.5% -24.0% 14.7% 67.67%
1 Yr 1.3% -7.6% 10.4% 47.84%
3 Yr -5.3%* -7.2% 3.9% 62.67%
5 Yr -1.2%* -2.3% 15.3% 87.44%
10 Yr 0.0%* -0.8% 8.1% 72.78%

* Annualized

Total Return Ranking - Calendar

Period CMPGX Return Category Return Low Category Return High Rank in Category (%)
2022 -12.0% -22.8% 1.0% 55.41%
2021 -1.7% -18.7% 25.3% 50.44%
2020 2.7% -22.8% 113.7% 96.80%
2019 6.3% -20.9% 11.3% 30.56%
2018 0.6% -21.9% 2.3% 42.23%

NAV & Total Return History

CMPGX - Holdings

Concentration Analysis

CMPGX Category Low Category High CMPGX % Rank
Net Assets 612 M 207 K 112 B 61.64%
Number of Holdings 384 2 14187 51.72%
Net Assets in Top 10 146 M -37.3 M 9.54 B 72.41%
Weighting of Top 10 23.77% 5.9% 100.0% 88.36%

Top 10 Holdings

  1. Principal Government Money Market Fund - Class R-6 2.95%
  2. Freddie Mac Pool 2.53%
  3. Ginnie Mae II Pool 2.48%
  4. Fannie Mae Pool 2.46%
  5. Fannie Mae or Freddie Mac 2.45%
  6. Ginnie Mae II Pool 2.32%
  7. Freddie Mac Pool 2.26%
  8. Freddie Mac Pool 2.22%
  9. Fannie Mae Pool 2.11%
  10. Fannie Mae Pool 1.99%

Asset Allocation

Weighting Return Low Return High CMPGX % Rank
Bonds 		100.11% 0.00% 134.21% 53.02%
Other 		3.36% -2.77% 29.56% 17.24%
Cash 		3.23% -34.21% 38.56% 36.21%
Stocks 		0.00% 0.00% 100.00% 77.59%
Preferred Stocks 		0.00% 0.00% 0.33% 77.59%
Convertible Bonds 		0.00% 0.00% 3.29% 77.59%

Bond Sector Breakdown

Weighting Return Low Return High CMPGX % Rank
Securitized 		79.37% 0.00% 99.79% 31.47%
Government 		8.02% 0.00% 100.00% 69.40%
Cash & Equivalents 		3.23% -29.63% 35.24% 40.09%
Derivative 		0.28% -0.06% 16.13% 11.21%
Corporate 		0.00% 0.00% 57.23% 83.19%
Municipal 		0.00% 0.00% 5.24% 78.88%

Bond Geographic Breakdown

Weighting Return Low Return High CMPGX % Rank
US 		100.11% 0.00% 134.21% 53.02%
Non US 		0.00% 0.00% 100.00% 77.59%

CMPGX - Expenses

Operational Fees

CMPGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.79% 0.03% 2.20% 41.99%
Management Fee 0.48% 0.00% 0.85% 82.33%
12b-1 Fee 0.15% 0.00% 1.00% 19.09%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

CMPGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 2.25% 1.00% 4.50% 93.75%
Deferred Load N/A 1.00% 4.50% N/A

Trading Fees

CMPGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

CMPGX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 343.70% 3.35% 948.00% 76.87%

CMPGX - Distributions

Dividend Yield Analysis

CMPGX Category Low Category High CMPGX % Rank
Dividend Yield 2.67% 0.00% 12.72% 85.34%

Dividend Distribution Analysis

CMPGX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

CMPGX Category Low Category High CMPGX % Rank
Net Income Ratio 0.32% -0.80% 2.96% 76.62%

Capital Gain Distribution Analysis

CMPGX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Monthly

Distributions History

View More +

CMPGX - Fund Manager Analysis

Managers

Zach Gassmann

Start Date

Tenure

Tenure Rank

Oct 17, 2019

2.62

2.6%

Zach Gassmann has been with Principal® since 2007. He received a master’s degree in financial management from Drake University and a bachelor’s degree in accounting from Simpson College. Mr. Gassmann has earned the right to use the Chartered Financial Analyst designation.

Bryan Davis

Start Date

Tenure

Tenure Rank

Oct 17, 2019

2.62

2.6%

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
0.11 31.64 8.43 7.35

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