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Trending ETFs

Name

As of 03/27/2024

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

$8.89

$451 M

9.32%

$0.83

0.91%

Vitals

YTD Return

2.6%

1 yr return

12.1%

3 Yr Avg Return

0.8%

5 Yr Avg Return

3.4%

Net Assets

$451 M

Holdings in Top 10

33.7%

52 WEEK LOW AND HIGH

$8.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 170.30%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

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

$8.89

$451 M

9.32%

$0.83

0.91%

PFUMX - Profile

Distributions

  • YTD Total Return 2.6%
  • 3 Yr Annualized Total Return 0.8%
  • 5 Yr Annualized Total Return 3.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.69%
DIVIDENDS
  • Dividend Yield 9.3%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Finisterre Emerging Markets Total Return Bond Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Jul 11, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Arthur Duchon-Doris

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds and other fixed-income securities that are tied economically to an emerging market, and in derivatives on such investments. The types of fixed-income securities in which the Fund invests include convertible bonds, credit- and index-linked securities, non-registered and restricted securities (including those issued in reliance on Rule 144A and Regulation S), securities issued by distressed or bankrupt issuers, and securities issued by the U.S government or U.S. government-sponsored enterprises. The Fund’s strategies may result in the active and frequent trading of the Fund’s portfolio securities.
The Fund considers a security to be tied economically to an emerging market if one or more of the following criteria is present: (i) the issuer or guarantor of the security has its principal place of business or principal office in an emerging market; (ii) the principal trading market for the security is in an emerging market; (iv) the issuer or guarantor of the security derives a majority of its revenue from emerging markets; or (iv) the currency of settlement of the security is the currency of an emerging market. Emerging markets include frontier markets.
The Fund uses derivatives to enhance return and to hedge and manage investment risks. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index. Specifically, the Fund uses forward contracts, futures, options, and swaps. The Fund invests in cash and cash equivalents to support certain of these investments, as well as for other purposes.
The Fund’s investment process focuses primarily on market level analysis of global markets and political developments and their impact on individual countries and companies in emerging markets. The Fund uses a top-down portfolio construction process, blending both fundamental and technical considerations. The investment strategy provides considerable flexibility to invest in various asset classes, capital structures, maturities, and currencies.
The Fund invests, without limitation, in high yield securities (also known as “junk”) rated at the time of purchase Ba1 or lower by Moody’s Investors Services, Inc., and BB+ or lower by S&P Global Ratings (“S&P Global”). If the security has been rated by only one of the rating agencies, that rating will determine the security’s rating; if the security is rated differently by the rating agencies, the highest rating will be used; and if the security has not been rated by either of the rating agencies, those selecting such investments will determine the security’s quality. The Fund’s holdings range in maturity from overnight to 30 years or more and are not subject to any minimum credit rating standard.
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PFUMX - Performance

Return Ranking - Trailing

Period PFUMX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.6% -2.8% 93.3% 38.16%
1 Yr 12.1% -3.8% 112.3% 51.97%
3 Yr 0.8%* -13.6% 21.2% 11.95%
5 Yr 3.4%* -8.7% 12.8% 5.47%
10 Yr N/A* -5.2% 6.6% N/A

* Annualized

Return Ranking - Calendar

Period PFUMX Return Category Return Low Category Return High Rank in Category (%)
2023 4.1% -10.6% 17.8% 63.49%
2022 -16.2% -29.1% -2.4% 34.35%
2021 -5.8% -24.0% 2.7% 25.78%
2020 3.2% -14.0% 9.7% 16.55%
2019 8.6% -6.4% 13.0% 43.80%

Total Return Ranking - Trailing

Period PFUMX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.6% -2.8% 93.3% 38.16%
1 Yr 12.1% -3.8% 112.3% 51.97%
3 Yr 0.8%* -13.6% 21.2% 11.95%
5 Yr 3.4%* -8.7% 12.8% 5.47%
10 Yr N/A* -5.2% 6.6% N/A

* Annualized

Total Return Ranking - Calendar

Period PFUMX Return Category Return Low Category Return High Rank in Category (%)
2023 11.2% -0.6% 20.0% 62.17%
2022 -9.3% -27.6% -1.7% 13.61%
2021 -3.0% -18.5% 7.4% 47.04%
2020 7.8% -7.8% 18.0% 15.11%
2019 14.8% -3.0% 23.0% 24.82%

NAV & Total Return History


PFUMX - Holdings

Concentration Analysis

PFUMX Category Low Category High PFUMX % Rank
Net Assets 451 M 331 K 14.4 B 44.26%
Number of Holdings 218 4 1833 56.39%
Net Assets in Top 10 151 M -134 M 1.25 B 31.48%
Weighting of Top 10 33.73% 5.1% 101.4% 19.87%

Top 10 Holdings

  1. Principal Government Money Market Fund - Class R-6 12.68%
  2. Brazil Notas do Tesouro Nacional Serie F 5.03%
  3. Mexican Bonos 2.65%
  4. Mexican Bonos 2.62%
  5. Republic of South Africa Government Bond 2.48%
  6. Colombian TES 2.08%
  7. Chile Government International Bond 1.94%
  8. Iraq International Bond 1.54%
  9. Dominican Republic International Bond 1.43%
  10. Indonesia Treasury Bond 1.29%

Asset Allocation

Weighting Return Low Return High PFUMX % Rank
Bonds
84.11% 0.91% 99.54% 93.44%
Cash
16.44% 0.00% 21.93% 5.25%
Stocks
0.00% -0.01% 93.55% 51.15%
Preferred Stocks
0.00% 0.00% 1.28% 33.44%
Convertible Bonds
0.00% 0.00% 8.47% 71.52%
Other
-0.55% -9.56% 88.17% 90.16%

Bond Sector Breakdown

Weighting Return Low Return High PFUMX % Rank
Government
34.34% 0.00% 99.79% 81.79%
Cash & Equivalents
12.68% 0.00% 23.23% 4.92%
Corporate
12.33% 0.00% 93.26% 71.19%
Securitized
0.00% 0.00% 2.41% 38.41%
Municipal
0.00% 0.00% 0.00% 30.13%
Derivative
-0.55% -2.00% 7.35% 90.16%

Bond Geographic Breakdown

Weighting Return Low Return High PFUMX % Rank
US
54.13% -42.31% 99.01% 59.67%
Non US
29.98% 0.00% 132.49% 42.95%

PFUMX - Expenses

Operational Fees

PFUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.91% 0.02% 35.56% 71.71%
Management Fee 0.75% 0.00% 1.10% 62.95%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

PFUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PFUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 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.

PFUMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 170.30% 0.00% 218.00% 95.47%

PFUMX - Distributions

Dividend Yield Analysis

PFUMX Category Low Category High PFUMX % Rank
Dividend Yield 9.32% 0.00% 22.11% 10.82%

Dividend Distribution Analysis

PFUMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

PFUMX Category Low Category High PFUMX % Rank
Net Income Ratio 3.69% -2.28% 8.00% 71.14%

Capital Gain Distribution Analysis

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

Distributions History

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PFUMX - Fund Manager Analysis

Managers

Arthur Duchon-Doris


Start Date

Tenure

Tenure Rank

Jul 11, 2016

5.89

5.9%

Arthur Duchon-Doris has been with Finisterre since 2015. Previously, he was employed by AXA Investment Managers (2015), Credit Agricole CIB (2014 - 2015), Societe General CIB (2012 - 2013), and Epervier Corporate Finance (2011). Mr. Duchon-Doris earned his M.S.C. in Financial Markets with a concentration in Asset Management from the EDHEC Business School.

Damien Buchet


Start Date

Tenure

Tenure Rank

Jul 11, 2016

5.89

5.9%

Damien joined Finisterre in September 2015 as a Portfolio Manager and Chief Investment Officer for the Total Return Fund Strategy. Prior to joining Finisterre, he was the Global Head of for Emerging Markets Fixed Income at AXA Investment Managers from 2010 to 2015, overseeing $7bn in EM FI assets and leading the EM team located in Paris, London and Hong Kong. From 2007 to 2010, Damien was Head of Sovereign & Emerging Markets Proprietary Trading at Dexia Credit Local in Paris, where he was responsible for two €3bn relative value trading books, in EM hard and local currency assets. Damien was Portfolio Manager and Head of Emerging Markets at CCR Gestion, Commerzbank Group in Paris from 2005 to 2007. From 1996 to 2005, Damien was a Senior Fund Manager, Deputy Head of Alternative EM Funds at Barep Asset Management in Paris, the alternative asset manager of Societe Generale. He started his career in Hong Kong as an Asian Equity Fund Manager at Euro Pacific Advisers Ltd from 1993 to 1996, and a Financial Analyst, China Desk at Societe Generale Hong Kong Branch from 1992 to 1993. Damien graduated from EDHEC School of Business Administration in Lille, France (1991) and is also a CFA charterholder.

Christopher Watson


Start Date

Tenure

Tenure Rank

Jul 11, 2016

5.89

5.9%

Christopher joined Finisterre in 2007 as Head of Research and became a Portfolio Manager in 2013. Prior to joining Finisterre, Christopher was an investment analyst in the Global Special Situations Group at Citigroup.  Before Citigroup, Christopher was an Assistant Vice President at GE Capital from 2001 – 2004.  He started his career at the Royal Bank of Canada in 1999 where he worked as a financial institutions banker.  Christopher has an MBA from IMD Lausanne and a BA Hons from McGill University, Montreal.  He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.38 6.11