PCMFX: Principal California Municipal Instl

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PCMFX Principal California Municipal Instl


Profile

PCMFX - Profile

Vitals

  • YTD Return 0.8%
  • 3 Yr Annualized Return 1.0%
  • 5 Yr Annualized Return 0.9%
  • Net Assets $647 M
  • Holdings in Top 10 16.9%

52 WEEK LOW AND HIGH

$10.91
$9.64
$11.20

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.57%

SALES FEES

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

BROKERAGE FEES

  • Turnover 42.30%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $0
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 0.8%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 0.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.35%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Principal California Municipal Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Feb 27, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    James Noble

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in California municipal obligations (securities issued by or on behalf of state or local governments and other public authorities) at the time of purchase. Generally, these municipal obligations pay interest that is exempt from state personal income tax and federal income tax.


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Categories

Performance

PCMFX - Performance

Return Ranking - Trailing

Period PCMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -3.0% 303.2% 34.72%
1 Yr 1.2% -3.1% 299.7% 27.08%
3 Yr 1.0%* -0.9% 58.8% 24.58%
5 Yr 0.9%* -0.9% 31.6% 25.97%
10 Yr N/A* -0.3% 15.0% N/A

* Annualized

Return Ranking - Calendar

Period PCMFX Return Category Return Low Category Return High Rank in Category (%)
2019 5.6% 2.4% 8.8% 22.75%
2018 -3.2% -6.2% 2.8% 72.93%
2017 3.5% -0.2% 6.8% 18.18%
2016 -3.0% -7.9% -1.7% 41.03%
2015 N/A -1.9% 1.8% N/A

Total Return Ranking - Trailing

Period PCMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.8% -3.0% 303.2% 34.72%
1 Yr 1.2% -3.1% 299.7% 27.08%
3 Yr 1.0%* -0.9% 59.1% 29.61%
5 Yr 0.9%* -0.9% 31.9% 31.82%
10 Yr N/A* -0.3% 15.5% N/A

* Annualized

Total Return Ranking - Calendar

Period PCMFX Return Category Return Low Category Return High Rank in Category (%)
2019 5.6% 2.4% 8.8% 25.40%
2018 -3.2% -6.2% 2.8% 76.24%
2017 3.5% -0.2% 6.9% 20.61%
2016 -3.0% -7.9% 0.8% 44.87%
2015 N/A -1.9% 3.7% N/A

NAV & Total Return History


Holdings

PCMFX - Holdings

Concentration Analysis

PCMFX Category Low Category High PCMFX % Rank
Net Assets 647 M 2.99 M 17.2 B 48.19%
Number of Holdings 218 20 4740 63.21%
Net Assets in Top 10 109 M -115 M 3.01 B 45.60%
Weighting of Top 10 16.93% 3.5% 68.6% 50.78%

Top 10 Holdings

  1. CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV 5% 2.13%
  2. CALIFORNIA MUN FIN AUTH STUDENT HSG REV 5% 1.91%
  3. TENDER OPT BD TR RCPTS / CTFS VAR STS 11.47% 1.87%
  4. CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV 3% 1.81%
  5. CALIFORNIA MUN FIN AUTH SPL FAC REV 4% 1.80%
  6. CALIFORNIA POLLUTION CTL FING AUTH WTR FURNISHING REV 5% 1.63%
  7. CALIFORNIA HSG FIN AGY MUN CTFS 4.25% 1.55%
  8. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5.3% 1.46%
  9. CALIFORNIA MUN FIN AUTH REV 5% 1.41%
  10. SAN JOAQUIN HILLS CALIF TRANSN CORRIDOR AGY TOLL RD REV 5% 1.37%

Asset Allocation

Weighting Return Low Return High PCMFX % Rank
Bonds
99.21% 88.08% 139.13% 54.40%
Cash
0.79% -39.12% 11.92% 41.97%
Stocks
0.00% 0.00% 0.10% 36.79%
Preferred Stocks
0.00% 0.00% 0.00% 34.72%
Other
0.00% 0.00% 3.39% 39.38%
Convertible Bonds
0.00% 0.00% 0.00% 34.72%

Bond Sector Breakdown

Weighting Return Low Return High PCMFX % Rank
Municipal
99.20% 49.29% 101.06% 58.03%
Cash & Equivalents
0.80% -0.27% 13.85% 40.41%
Derivative
0.00% 0.00% 0.00% 34.72%
Securitized
0.00% 0.00% 0.00% 34.72%
Corporate
0.00% 0.00% 2.58% 45.08%
Government
0.00% -0.79% 49.18% 37.82%

Bond Geographic Breakdown

Weighting Return Low Return High PCMFX % Rank
US
97.74% 85.92% 134.71% 40.93%
Non US
1.47% 0.00% 9.10% 52.33%

Expenses

PCMFX - Expenses

Operational Fees

PCMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.57% 0.09% 3.74% 71.35%
Management Fee 0.45% 0.00% 0.65% 47.15%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.33% N/A

Sales Fees

PCMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PCMFX 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.

PCMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 42.30% 2.00% 235.00% 83.33%

Distributions

PCMFX - Distributions

Dividend Yield Analysis

PCMFX Category Low Category High PCMFX % Rank
Dividend Yield 0.00% 0.00% 0.64% 37.31%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PCMFX Category Low Category High PCMFX % Rank
Net Income Ratio 3.35% 0.73% 5.75% 16.67%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PCMFX - Fund Manager Analysis

Managers

James Noble


Start Date

Tenure

Tenure Rank

Sep 20, 2011

8.95

9.0%

James Noble has been with PGI since 2010. Previously, he was an analyst at The Dreyfus Corporation. He has earned a bachelor’s degree in finance and an M.B.A. from Hofstra University.

James Welch


Start Date

Tenure

Tenure Rank

Oct 01, 2014

5.92

5.9%

James Welch has been with Principal Global Investors, LLC since 2014. Prior to that, he was a Senior Portfolio Manager at Castleton Partners, where he was employed from 2013 to 2014; and, from 2009 to 2012, he worked at Standish Mellon Asset Management. Prior to joining Dreyfus Corporation since October 2001, he was senior vice president with Back Bay Advisors, his employer since March 1993. Previously, he spent five years with Putnam Management Company, where he served as vice president and portfolio manager.James earned a bachelor's degree in Economics from the Pennsylvania State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 31.69 9.4 7.51