SRCCX: Principal California Municipal C

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SRCCX Principal California Municipal C

  • Fund
  • SRCCX
  • Price as of: Oct 18, 2019
  • $10.81 - $0.00 - 0.00%

SRCCX - Profile

Vitals

  • YTD Return 5.4%
  • 3 Yr Annualized Return 2.2%
  • 5 Yr Annualized Return 3.2%
  • Net Assets $574 M
  • Holdings in Top 10 21.4%

52 WEEK LOW AND HIGH

$10.81
$10.08
$10.95

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.67%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 49.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$1,000

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Muni California Intermediate

Distributions

  • YTD Total Return 5.4%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 3.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.62%
DIVIDENDS
  • Dividend Yield 1.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Principal California Municipal Fund
  • Fund Family Name Principal Funds
  • Inception Date Mar 01, 2002
  • Shares Outstanding N/A
  • Share Class C
  • 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.

SRCCX - Performance

Return Ranking - Trailing

Period SRCCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% 2.3% 10.4% 31.09%
1 Yr 7.8% 1.8% 12.9% 23.96%
3 Yr 2.2%* -1.6% 5.6% 26.86%
5 Yr 3.2%* -1.4% 6.1% 26.06%
10 Yr 4.0%* -1.0% 7.7% 24.83%

* Annualized


Return Ranking - Calendar

Period SRCCX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.3% -6.2% 2.8% 75.68%
2017 3.5% -0.2% 6.8% 18.34%
2016 -3.0% -7.9% -1.7% 40.00%
2015 -0.2% -1.9% 1.8% 67.52%
2014 9.6% 1.5% 16.6% 13.73%

Total Return Ranking - Trailing

Period SRCCX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.4% 2.3% 10.4% 31.09%
1 Yr 6.8% 0.8% 12.9% 35.42%
3 Yr 2.2%* -1.6% 4.6% 22.29%
5 Yr 3.2%* -1.4% 6.1% 24.85%
10 Yr 4.0%* -1.0% 7.7% 26.21%

* Annualized


Total Return Ranking - Calendar

Period SRCCX Return Category Return Low Category Return High Rank in Category (%)
2018 -3.3% -6.2% 2.8% 80.00%
2017 3.5% -0.2% 6.9% 20.71%
2016 -3.0% -7.9% 0.8% 43.75%
2015 -0.2% -1.9% 3.7% 71.97%
2014 9.6% 2.0% 16.6% 15.69%

NAV & Total Return History

SRCCX - Holdings

Concentration Analysis

SRCCX Category Low Category High SRCCX % Rank
Net Assets 574 M 3.1 M 16.3 B 52.55%
Number of Holdings 194 18 3999 65.82%
Net Assets in Top 10 120 M -110 M 2.97 B 47.96%
Weighting of Top 10 21.40% 3.8% 80.5% 27.55%

Top 10 Holdings

  1. iShares California Muni Bond ETF 4.09%

  2. CALIFORNIA MUN FIN AUTH STUDENT HSG REV 5% 2.28%

  3. CALIFORNIA ST 1.1% 2.06%

  4. CALIFORNIA POLLUTN CTL FING AUTH SOLID WASTE DISP REV 3% 2.06%

  5. CALIFORNIA POLLUTION CTL FING AUTH WTR FURNISHING REV 5% 1.94%

  6. ALAMEDA CORRIDOR TRANSN AUTH CALIF REV 5% 1.91%

  7. LOS ANGELES CALIF DEPT WTR & PWR REV 1.15% 1.88%

  8. CALIFORNIA MUN FIN AUTH REV 5% 1.78%

  9. LOS ANGELES CALIF UNI SCH DIST 5.25% 1.71%

  10. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5.3% 1.69%


Asset Allocation

Weighting Return Low Return High SRCCX % Rank
Bonds
101.11% 91.08% 158.35% 13.27%
Stocks
0.00% 0.00% 0.20% 77.55%
Preferred Stocks
0.00% 0.00% 0.00% 76.53%
Other
0.00% -40.48% 2.17% 78.06%
Convertible Bonds
0.00% 0.00% 0.00% 76.53%
Cash
-1.12% -38.61% 8.91% 89.80%

Bond Sector Breakdown

Weighting Return Low Return High SRCCX % Rank
Municipal
101.12% 91.09% 153.13% 19.39%
Derivative
0.00% 0.00% 0.00% 76.53%
Securitized
0.00% 0.00% 1.72% 76.53%
Corporate
0.00% 0.00% 1.71% 78.57%
Government
0.00% -5.09% 1.93% 70.41%
Cash & Equivalents
-1.12% -38.61% 8.91% 89.80%

Bond Geographic Breakdown

Weighting Return Low Return High SRCCX % Rank
US
100.38% 87.68% 158.35% 11.73%
Non US
0.73% 0.00% 8.93% 63.27%

SRCCX - Expenses

Operational Fees

SRCCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.67% 0.09% 28.64% 13.47%
Management Fee 0.45% 0.00% 0.70% 44.90%
12b-1 Fee 1.00% 0.00% 1.00% 99.10%
Administrative Fee N/A 0.01% 0.33% N/A

Sales Fees

SRCCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 4.75% N/A
Deferred Load 1.00% 1.00% 5.00% 88.37%

Trading Fees

SRCCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 1.00% N/A

Turnover 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.

SRCCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 49.00% 0.00% 293.00% 85.57%

SRCCX - Distributions

Dividend Yield Analysis

SRCCX Category Low Category High SRCCX % Rank
Dividend Yield 1.68% 0.00% 4.09% 33.16%

Dividend Distribution Analysis

SRCCX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Dividend Payout History


Net Income Ratio Analysis

SRCCX Category Low Category High SRCCX % Rank
Net Income Ratio 2.62% 0.87% 6.70% 74.61%

Capital Gain Distribution Analysis

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

SRCCX - Managers

James Noble

Manager

Start Date

Tenure

Tenure Rank

Sep 20, 2011

8.03

8.0%

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

Manager

Start Date

Tenure

Tenure Rank

Oct 01, 2014

5.0

5.0%

James Welch has been with Principal® since 2014. Prior to that, Mr. Welch 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.He earned a bachelor's degree in Economics from the Pennsylvania State University.


Tenure Analysis

Category Low

0.25

Category High

30.77

Category Average

9.03

Category Mode

6.59