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Name

As of 04/12/2024

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

Opportunistic Municipal Fund

POMFX | Fund

$9.65

$147 M

0.00%

0.83%

Vitals

YTD Return

1.2%

1 yr return

5.6%

3 Yr Avg Return

-1.6%

5 Yr Avg Return

1.4%

Net Assets

$147 M

Holdings in Top 10

16.6%

52 WEEK LOW AND HIGH

$9.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.83%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 48.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/12/2024

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

Opportunistic Municipal Fund

POMFX | Fund

$9.65

$147 M

0.00%

0.83%

POMFX - Profile

Distributions

  • YTD Total Return 1.2%
  • 3 Yr Annualized Total Return -1.6%
  • 5 Yr Annualized Total Return 1.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.52%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Opportunistic Municipal Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Mar 11, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • 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 municipal obligations, which are securities issued by or on behalf of state or local governments and other public authorities. Municipal obligations generally pay interest that is exempt from federal income tax. The Fund’s investment in municipal obligations include industrial revenue bonds. The Fund has a flexible investment strategy and invests in obligations of any duration and credit quality, including below-investment-grade bonds (sometimes called “high yield bonds” or “junk bonds”), 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 has been rated by only one of the rating agencies, that rating will determine the bond's rating; if the bond is rated differently by the rating agencies, the highest rating will be used; and if the bond has not been rated by either of the rating agencies, those selecting such investments will determine the bond's quality. The Fund is not managed to a particular maturity or duration.
The Fund invests in other debt obligations, including (but not limited to) taxable municipal obligations; U.S. Treasury securities; obligations of the U.S. government, its agencies, and instrumentalities; and exchange-traded funds (ETFs) to gain exposure to the municipal market.
The Fund uses derivative instruments, such as futures, for duration management purposes. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index. The Fund also invests in inverse floating rate instruments, which are generally more volatile than other types of municipal obligations and may involve leverage, to enhance investment income.
Read More

POMFX - Performance

Return Ranking - Trailing

Period POMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -3.8% 3.4% 20.39%
1 Yr 5.6% -6.3% 7.1% 2.43%
3 Yr -1.6%* -9.7% 1.7% 48.76%
5 Yr 1.4%* -4.8% 524.9% 36.98%
10 Yr N/A* 0.0% 155.6% N/A

* Annualized

Return Ranking - Calendar

Period POMFX Return Category Return Low Category Return High Rank in Category (%)
2023 3.0% -1.5% 7.5% 50.00%
2022 -19.2% -26.9% -3.5% 74.38%
2021 3.2% -1.9% 5.6% 13.00%
2020 0.8% -10.1% 4.2% 39.90%
2019 6.7% 2.0% 9.1% 14.58%

Total Return Ranking - Trailing

Period POMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -3.8% 3.4% 20.39%
1 Yr 5.6% -6.3% 7.1% 2.43%
3 Yr -1.6%* -9.7% 1.7% 48.76%
5 Yr 1.4%* -4.8% 524.9% 36.98%
10 Yr N/A* 0.0% 155.6% N/A

* Annualized

Total Return Ranking - Calendar

Period POMFX Return Category Return Low Category Return High Rank in Category (%)
2023 8.1% 0.4% 10.9% 26.70%
2022 -15.5% -26.9% -2.9% 72.91%
2021 7.1% -1.9% 10.0% 12.50%
2020 4.6% -4.1% 8.2% 24.75%
2019 9.2% 3.5% 1028633.9% 38.54%

NAV & Total Return History

POMFX - Holdings

Concentration Analysis

POMFX Category Low Category High POMFX % Rank
Net Assets 147 M 9.79 K 16.1 B 85.51%
Number of Holdings 146 1 3076 85.92%
Net Assets in Top 10 24.6 M -102 M 3.44 B 86.89%
Weighting of Top 10 16.59% 4.7% 100.7% 29.76%

Top 10 Holdings

  1. Buckeye Tobacco Settlement Financing Authority 2.68%
  2. Parish of St James LA 2.17%
  3. Navajo Nation 1.72%
  4. Florida Development Finance Corp 1.61%
  5. California Educational Facilities Authority 1.57%
  6. Port Beaumont Navigation District 1.40%
  7. Arkansas Development Finance Authority 1.39%
  8. California Infrastructure Economic Development Bank 1.37%
  9. Florida Development Finance Corp 1.35%
  10. Tender Option Bond Trust Receipts/Certificates 1.35%

Asset Allocation

Weighting Return Low Return High POMFX % Rank
Bonds 		94.06% 0.00% 146.69% 88.52%
Cash 		5.82% -0.64% 100.00% 6.31%
Stocks 		0.13% 0.00% 99.38% 21.05%
Preferred Stocks 		0.00% -47.61% 1.89% 48.54%
Other 		0.00% -12.04% 9.96% 49.51%
Convertible Bonds 		0.00% 0.00% 0.00% 48.54%

Stock Sector Breakdown

Weighting Return Low Return High POMFX % Rank
Utilities 		0.00% 0.00% 0.00% N/A
Technology 		0.00% 0.00% 0.00% N/A
Real Estate 		0.00% 0.00% 0.00% N/A
Industrials 		0.00% 0.00% 4.78% N/A
Healthcare 		0.00% 0.00% 0.00% N/A
Financial Services 		0.00% 0.00% 0.00% N/A
Energy 		0.00% 0.00% 0.00% N/A
Communication Services 		0.00% 0.00% 0.00% N/A
Consumer Defense 		0.00% 0.00% 0.00% N/A
Consumer Cyclical 		0.00% 0.00% 77.65% N/A
Basic Materials 		0.00% 17.58% 100.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High POMFX % Rank
US 		0.13% 0.00% 99.38% 21.36%
Non US 		0.00% 0.00% 0.00% 48.54%

Bond Sector Breakdown

Weighting Return Low Return High POMFX % Rank
Municipal 		99.99% 0.00% 100.00% 8.25%
Derivative 		0.00% -12.35% 1.55% 45.15%
Cash & Equivalents 		0.00% 0.00% 100.00% 71.36%
Securitized 		0.00% 0.00% 22.44% 50.97%
Corporate 		0.00% 0.00% 2.83% 74.27%
Government 		0.00% 0.00% 0.09% 51.94%

Bond Geographic Breakdown

Weighting Return Low Return High POMFX % Rank
US 		94.06% 0.00% 139.84% 83.98%
Non US 		0.00% 0.00% 13.35% 54.37%

POMFX - Expenses

Operational Fees

POMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.83% 0.21% 3.44% 60.98%
Management Fee 0.44% 0.00% 1.41% 24.40%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.35% N/A

Sales Fees

POMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 4.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

POMFX 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.

POMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 2.00% 121.00% 79.17%

POMFX - Distributions

Dividend Yield Analysis

POMFX Category Low Category High POMFX % Rank
Dividend Yield 0.00% 0.00% 6.72% 26.79%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

POMFX Category Low Category High POMFX % Rank
Net Income Ratio 3.52% 1.11% 5.70% 29.19%

Capital Gain Distribution Analysis

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

Distributions History

View More +

POMFX - Fund Manager Analysis

Managers

James Noble

Start Date

Tenure

Tenure Rank

Jun 14, 2012

9.97

10.0%

James Noble played a vital role in establishing Principal’s Tax Sensitive Strategies in 2010. His performance has been widely recognized by Morningstar and various periodicals since inheriting (Principal Tax Exempt/Principal California) and creating (Principal Municipal Opportunistic) mutual funds. Previously, James had additional portfolio management/fundamental analysis duties at Dreyfus Tax Exempt and Dreyfus Taxable Fixed Income Departments (wholly owned subsidiaries of the Bank of New York Mellon Corporation). During his career, he has focused on speculative credits/derivatives capitalizing on market dislocations for various clients (mutual funds, high net worth, retail SMA, and institutional. Past investment endeavors include managing the options desk at Dreyfus Investment Services. James received a MBA and bachelor’s degree from Hofstra University and is a level III candidate in the CFA Program. He is a member of the Municipal Analyst Group of New York and New York Society of Security Analysts.

James Welch

Start Date

Tenure

Tenure Rank

Oct 01, 2014

7.67

7.7%

James Welch - Portfolio Manager James is a portfolio manager at Principal Global Investors. He is responsible for managing tax exempt portfolios. James joined the firm in 2014. Prior to his current role, James served as a CIO-portfolio manager at Castleton Partners LLC. He received a bachelor's degree in economics from Pennsylvania State University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 21.43 7.46 2.52

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