PBSAX: Principal Inflation Protection Fund - MutualFunds.com

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PBSAX - Snapshot

Vitals

  • YTD Return 7.6%
  • 3 Yr Annualized Return 4.7%
  • 5 Yr Annualized Return 3.5%
  • Net Assets $1.75 B
  • Holdings in Top 10 48.8%

52 WEEK LOW AND HIGH

$8.78
$7.67
$8.86

Expenses

OPERATING RELATED FEES

  • Expense Ratio N/A

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 68.40%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Jan 31, 2017
  • Standard (Taxable) $0
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Inflation-Protected Bond

Compare PBSAX to Popular TIPS Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$25.44

+0.04%

$37.70 B

1.82%

$0.46

3.16%

0.14%

$50.81

+0.04%

$37.70 B

1.89%

$0.96

3.13%

0.05%

$14.33

-0.14%

$33.01 B

2.04%

$0.29

8.73%

0.20%

$125.93

-0.09%

$24.07 B

1.62%

$2.04

8.00%

0.19%

$10.70

-0.09%

$13.25 B

1.35%

$0.14

6.47%

PBSAX - Profile

Distributions

  • YTD Total Return 7.6%
  • 3 Yr Annualized Total Return 4.7%
  • 5 Yr Annualized Total Return 3.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.10%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Principal Inflation Protection Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Dec 29, 2004
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Christopher Allen

Fund Description

The fund invests primarily in inflation-indexed bonds of varying maturities issued by the U.S. and non-U.S. governments, their agencies or instrumentalities, and U.S. and non-U.S. corporations. It normally maintains an average portfolio duration that is within from 80% to 120% of the duration of the Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index. The fund also invests in foreign securities, U.S. Treasuries and agency securities.


PBSAX - Performance

Return Ranking - Trailing

Period PBSAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.6% -3.6% 22.2% 39.81%
1 Yr 9.3% -2.3% 23.2% 38.25%
3 Yr 4.7%* -0.2% 13.2% 54.33%
5 Yr 3.5%* -0.1% 10.5% 63.68%
10 Yr 2.4%* 0.8% 6.7% 69.87%

* Annualized

Return Ranking - Calendar

Period PBSAX Return Category Return Low Category Return High Rank in Category (%)
2019 5.8% -47.0% 16.7% 35.35%
2018 -5.1% -11.1% -0.5% 87.13%
2017 0.1% -2.8% 6.6% 64.32%
2016 2.4% 0.5% 7.7% 61.02%
2015 -3.5% -13.3% 0.6% 77.33%

Total Return Ranking - Trailing

Period PBSAX Return Category Return Low Category Return High Rank in Category (%)
YTD 7.6% -3.6% 22.2% 39.81%
1 Yr 9.3% -2.3% 23.2% 34.10%
3 Yr 4.7%* -0.2% 13.2% 50.00%
5 Yr 3.5%* -0.1% 10.5% 58.21%
10 Yr 2.4%* 0.8% 6.7% 66.03%

* Annualized

Total Return Ranking - Calendar

Period PBSAX Return Category Return Low Category Return High Rank in Category (%)
2019 5.8% 0.8% 16.7% 37.67%
2018 -2.2% -9.9% 0.6% 39.60%
2017 2.1% -2.7% 9.6% 32.43%
2016 3.2% 0.5% 10.4% 55.37%
2015 -3.5% -12.6% 0.6% 82.00%

NAV & Total Return History


PBSAX - Holdings

Concentration Analysis

PBSAX Category Low Category High PBSAX % Rank
Net Assets 1.75 B 327 K 37.7 B 36.41%
Number of Holdings 728 5 1084 13.82%
Net Assets in Top 10 857 M -26.3 M 24.3 B 32.72%
Weighting of Top 10 48.81% 16.6% 99.4% 50.98%

Top 10 Holdings

  1. United States Treasury Notes 0.12% 8.60%
  2. 2 Year Treasury Note Future Dec 20 8.43%
  3. 2 Year Treasury Note Future Dec 20 6.96%
  4. 2 Year Treasury Note Future Dec 20 6.96%
  5. 2 Year Treasury Note Future Dec 20 6.96%
  6. 2 Year Treasury Note Future Dec 20 6.96%
  7. 2 Year Treasury Note Future Dec 20 6.96%
  8. 2 Year Treasury Note Future Dec 20 6.96%
  9. 2 Year Treasury Note Future Dec 20 6.96%
  10. 2 Year Treasury Note Future Dec 20 6.96%

Asset Allocation

Weighting Return Low Return High PBSAX % Rank
Bonds
85.53% 84.12% 145.15% 96.31%
Cash
14.47% -48.24% 39.21% 6.45%
Stocks
0.00% -18.45% 14.03% 57.60%
Preferred Stocks
0.00% 0.00% 0.19% 60.37%
Other
0.00% -12.41% 30.97% 62.21%
Convertible Bonds
0.00% 0.00% 4.86% 80.65%

Bond Sector Breakdown

Weighting Return Low Return High PBSAX % Rank
Government
52.90% 0.15% 100.00% 82.49%
Cash & Equivalents
38.02% 0.00% 38.02% 2.30%
Derivative
9.05% 0.00% 24.62% 3.69%
Securitized
0.02% 0.00% 58.11% 72.81%
Corporate
0.00% 0.00% 89.49% 87.56%
Municipal
0.00% 0.00% 2.83% 73.73%

Bond Geographic Breakdown

Weighting Return Low Return High PBSAX % Rank
US
81.87% 61.96% 150.42% 87.10%
Non US
3.66% -27.12% 30.93% 46.54%

PBSAX - Expenses

Operational Fees

PBSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A 0.01% 22.01% 47.69%
Management Fee 0.38% 0.00% 0.99% 65.44%
12b-1 Fee 0.30% 0.00% 1.00% 61.90%
Administrative Fee 0.20% 0.00% 0.40% 83.33%

Sales Fees

PBSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

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

PBSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 68.40% 0.00% 357.00% 70.97%

PBSAX - Distributions

Dividend Yield Analysis

PBSAX Category Low Category High PBSAX % Rank
Dividend Yield 0.00% 0.00% 3.32% 62.21%

Dividend Distribution Analysis

PBSAX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Semi-Annually Monthly Monthly

Net Income Ratio Analysis

PBSAX Category Low Category High PBSAX % Rank
Net Income Ratio 1.10% -0.20% 3.82% 87.10%

Capital Gain Distribution Analysis

PBSAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

PBSAX - Fund Manager Analysis

Managers

Christopher Allen


Start Date

Tenure

Tenure Rank

Mar 24, 2017

3.52

3.5%

Chris Allen, CFA, is a senior Portfolio Manager for the Fundamental European Bond team within BlackRock's Global Fixed Income Group. He is the Lead Manager on Euro Government and Inflation Linked Strategies and manages Institutional and Retail mandates. He is Co-Portfolio Manager on the BlackRock Global Funds (BGF) Euro Short Duration Bond Fund which is one of the biggest BlackRock funds in the European BGF range. Mr. Allen's service with the firm dates back to 2004, including his years with Merrill Lynch Investment Managers (MLIM), which merged with BlackRock in 2006. Mr. Allen began his career at MLIM as a member of the graduate training program and he initially managed Global Bond mandates before joining the Euro Fixed Income team in 2006. Mr. Allen earned a MA degree, with First Class Honours, in Mathematics from Oxford University in 2004.

Akiva Dickstein


Start Date

Tenure

Tenure Rank

Mar 19, 2018

2.54

2.5%

Akiva Dickstein, Managing Director, is Head of Customized Core Portfolios within BlackRock's Americas Fixed Income Alpha Strategies and a member of the Americas Fixed Income Executive Team. Mr. Dickstein has been the lead portfolio manager on BlackRock's mortgage portfolios since joining BlackRock in 2009. Prior to that, Mr. Dickstein spent eight years at Merrill Lynch, where he served as Managing Director and head of the U.S. Rates & Structured Credit Research Group. He was responsible for the team that produced MBS, ABS, CMBS, Treasuries, swaps, and interest rate derivatives research. Mr. Dickstein's publications on MBS strategy included the weekly Mortgage Investor as well as numerous lengthier articles on topics such as optimal loan modifications, the valuation of credit-sensitive MBS and ABS, and the pricing of mortgage derivatives, options, and pass-throughs. In addition, he developed Merrill's prepayment models for fixed rate and hybrid MBS. From 1993 to 2001, Mr. Dickstein was with Lehman Brothers, most recently as a Senior Vice President in Mortgage Derivatives Trading. In this role, he traded mortgage derivatives and developed Lehman's credit default model. He joined Lehman as a mortgage and asset-backed securities analyst and was named to Institutional Investor's All American Fixed Income Research Team in pass-throughs, non-agency mortgages, and asset-backed securities. Mr. Dickstein earned a BA degree in economics, summa cum laude, from Yale University in 1990, and an MA degree in physics from Princeton University in 1993.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.12 18.85 6.79 9.43