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Trending ETFs

Name

As of 06/17/2024

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

$7.10

$1.51 B

0.00%

1.27%

Vitals

YTD Return

0.4%

1 yr return

1.2%

3 Yr Avg Return

-2.3%

5 Yr Avg Return

1.0%

Net Assets

$1.51 B

Holdings in Top 10

32.7%

52 WEEK LOW AND HIGH

$7.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.27%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 67.70%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/17/2024

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

$7.10

$1.51 B

0.00%

1.27%

PISPX - Profile

Distributions

  • YTD Total Return 0.4%
  • 3 Yr Annualized Total Return -2.3%
  • 5 Yr Annualized Total Return 1.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.33%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Inflation Protection Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Aug 11, 2006
  • Shares Outstanding
    N/A
  • Share Class
    R1
  • Currency
    USD
  • Domiciled Country
    US
  • 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. Inflation-indexed bonds are fixed-income securities that are structured to provide protection against inflation. The value of the bond’s principal or the interest income paid on the bond is adjusted to track changes in an official inflation measure. The U.S. Treasury uses the Consumer Price Index for Urban Consumers as the inflation measure. Inflation-indexed bonds issued by a foreign government are generally adjusted to reflect a comparable inflation index, calculated by that government. The Fund also invests in foreign securities, U.S. Treasuries, and agency securities. The Fund utilizes derivative strategies (specifically, futures, swaps, and options) for purposes of managing the risk profile of the Fund. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index.
Under normal circumstances, the Fund maintains an average portfolio duration that is within ±20% of the duration of the Bloomberg U.S. Treasury Inflation Protected Securities (“TIPS”) Index, which as of January 31, 2024 was 6.76 years. The Fund is not managed to a particular maturity. The Fund’s strategies may result in the active and frequent trading of the Fund’s portfolio securities.
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PISPX - Performance

Return Ranking - Trailing

Period PISPX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -9.2% 9.2% 74.38%
1 Yr 1.2% -8.6% 7.9% 85.64%
3 Yr -2.3%* -13.8% 4.9% 81.82%
5 Yr 1.0%* -6.5% 5.0% 87.43%
10 Yr 0.7%* -2.2% 2.8% 88.64%

* Annualized

Return Ranking - Calendar

Period PISPX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.4% -8.7% 5.1% 75.62%
2022 -17.3% -52.3% -4.0% 61.62%
2021 -2.6% -7.9% 7.7% 93.81%
2020 9.2% -29.4% 23.0% 30.89%
2019 5.8% 0.8% 16.7% 40.00%

Total Return Ranking - Trailing

Period PISPX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.4% -9.2% 9.2% 74.38%
1 Yr 1.2% -8.6% 7.9% 85.64%
3 Yr -2.3%* -13.8% 4.9% 81.82%
5 Yr 1.0%* -6.5% 5.0% 87.43%
10 Yr 0.7%* -2.2% 2.8% 88.64%

* Annualized

Total Return Ranking - Calendar

Period PISPX Return Category Return Low Category Return High Rank in Category (%)
2023 2.6% -5.2% 9.5% 78.11%
2022 -12.8% -40.1% 9.2% 84.85%
2021 4.3% -2.7% 37.6% 84.02%
2020 9.8% -0.5% 27.5% 50.26%
2019 7.1% 2.8% 19.3% 51.58%

NAV & Total Return History


PISPX - Holdings

Concentration Analysis

PISPX Category Low Category High PISPX % Rank
Net Assets 1.51 B 968 K 51.8 B 43.84%
Number of Holdings 215 2 1521 33.50%
Net Assets in Top 10 497 M 925 K 25.1 B 51.72%
Weighting of Top 10 32.73% 11.2% 100.1% 84.16%

Top 10 Holdings

  1. United States Treasury Inflation Indexed Bonds 3.63%
  2. United States Treasury Inflation Indexed Bonds 3.61%
  3. United States Treasury Inflation Indexed Bonds 3.57%
  4. United States Treasury Inflation Indexed Bonds 3.27%
  5. United States Treasury Inflation Indexed Bonds 3.26%
  6. United States Treasury Inflation Indexed Bonds 3.23%
  7. United States Treasury Inflation Indexed Bonds 3.13%
  8. United States Treasury Inflation Indexed Bonds 3.08%
  9. United States Treasury Inflation Indexed Bonds 2.99%
  10. United States Treasury Inflation Indexed Bonds 2.96%

Asset Allocation

Weighting Return Low Return High PISPX % Rank
Bonds
101.58% 0.00% 209.10% 13.30%
Cash
0.71% -42.00% 19.53% 44.83%
Other
0.57% -45.31% 63.09% 53.69%
Stocks
0.00% 0.00% 100.07% 65.52%
Preferred Stocks
0.00% 0.00% 0.08% 63.05%
Convertible Bonds
0.00% 0.00% 3.96% 75.86%

Bond Sector Breakdown

Weighting Return Low Return High PISPX % Rank
Government
79.82% 6.70% 112.97% 73.89%
Securitized
1.33% 0.00% 58.03% 63.55%
Cash & Equivalents
0.71% 0.00% 15.07% 33.00%
Corporate
0.28% 0.00% 50.64% 64.04%
Municipal
0.00% 0.00% 1.28% 68.97%
Derivative
-0.12% -17.13% 11.42% 97.04%

Bond Geographic Breakdown

Weighting Return Low Return High PISPX % Rank
US
100.22% 0.00% 185.03% 10.84%
Non US
1.37% 0.00% 43.00% 21.67%

PISPX - Expenses

Operational Fees

PISPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.27% 0.03% 22.29% 16.92%
Management Fee 0.38% 0.00% 0.99% 71.43%
12b-1 Fee 0.35% 0.00% 1.00% 60.44%
Administrative Fee 0.28% 0.01% 0.40% 89.47%

Sales Fees

PISPX 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

PISPX 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.

PISPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 67.70% 0.00% 246.00% 61.86%

PISPX - Distributions

Dividend Yield Analysis

PISPX Category Low Category High PISPX % Rank
Dividend Yield 0.00% 0.00% 14.25% 57.14%

Dividend Distribution Analysis

PISPX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual SemiAnnual Annual

Net Income Ratio Analysis

PISPX Category Low Category High PISPX % Rank
Net Income Ratio 2.33% -0.06% 6.71% 83.50%

Capital Gain Distribution Analysis

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

Distributions History

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PISPX - Fund Manager Analysis

Managers

Christopher Allen


Start Date

Tenure

Tenure Rank

Mar 24, 2017

5.19

5.2%

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

4.2

4.2%

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
0.17 20.51 6.55 11.1