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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

$8.87

$660 M

2.88%

$0.26

0.93%

Vitals

YTD Return

-0.6%

1 yr return

1.7%

3 Yr Avg Return

-3.4%

5 Yr Avg Return

-1.4%

Net Assets

$660 M

Holdings in Top 10

24.8%

52 WEEK LOW AND HIGH

$8.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.93%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 343.70%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

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

$8.87

$660 M

2.88%

$0.26

0.93%

PMRJX - Profile

Distributions

  • YTD Total Return -0.6%
  • 3 Yr Annualized Total Return -3.4%
  • 5 Yr Annualized Total Return -1.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.29%
DIVIDENDS
  • Dividend Yield 2.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Government & High Quality Bond Fund (f/k/a Mortgage Securities Fund)
  • Fund Family Name
    Principal Funds
  • Inception Date
    Dec 16, 2008
  • Shares Outstanding
    N/A
  • Share Class
    J
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Bryan Davis

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in debt securities issued by the U.S. government, its agencies, or instrumentalities or debt securities that are rated, at the time of purchase, AAA by S&P Global Ratings (“S&P Global”) or Aaa by Moody’s Investors Service, Inc. (“Moody’s”), including, but not limited to, asset-backed securities (“ABS”), mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage-backed securities (“MBS”) (also referred to as securitized products). The Fund also invests in ABS and MBS that are rated lower than AAA by S&P Global or Aaa by Moody’s (or of comparable quality), including collateralized mortgage obligations, and in other obligations that are secured by mortgages or MBS. The MBS in which the Fund invests include MBS trading in the to-be-announced (“TBA”) markets. If a 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.
Under normal circumstances, the Fund maintains an average portfolio duration that is within ±50% of the duration of the Bloomberg U.S. Agency Fixed Rate MBS Index, which as of January 31, 2024 was 5.72 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.
The Fund invests in derivatives, including Treasury futures and securities delivered in TBA transactions, to manage the fixed-income exposure. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index.
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PMRJX - Performance

Return Ranking - Trailing

Period PMRJX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -3.9% 13.8% 67.70%
1 Yr 1.7% -4.4% 27.6% 53.54%
3 Yr -3.4%* -7.7% 11.3% 72.44%
5 Yr -1.4%* -5.6% 3.0% 88.26%
10 Yr 0.2%* -2.1% 3.4% 71.69%

* Annualized

Return Ranking - Calendar

Period PMRJX Return Category Return Low Category Return High Rank in Category (%)
2023 1.8% -1.0% 22.1% 12.83%
2022 -13.4% -20.4% -5.8% 44.44%
2021 -2.9% -7.1% 16.6% 44.09%
2020 0.5% -1.3% 8.8% 99.07%
2019 3.5% 0.3% 7.1% 44.08%

Total Return Ranking - Trailing

Period PMRJX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.6% -3.9% 13.8% 67.70%
1 Yr 1.7% -4.4% 27.6% 53.54%
3 Yr -3.4%* -7.7% 11.3% 72.44%
5 Yr -1.4%* -5.6% 3.0% 88.26%
10 Yr 0.2%* -2.1% 3.4% 71.69%

* Annualized

Total Return Ranking - Calendar

Period PMRJX Return Category Return Low Category Return High Rank in Category (%)
2023 4.7% -0.5% 28.8% 29.20%
2022 -12.1% -18.5% -3.3% 56.89%
2021 -1.8% -4.5% 25.3% 55.91%
2020 2.7% -1.3% 13.0% 98.13%
2019 6.3% 1.8% 11.3% 28.91%

NAV & Total Return History


PMRJX - Holdings

Concentration Analysis

PMRJX Category Low Category High PMRJX % Rank
Net Assets 660 M 9.43 M 134 B 55.75%
Number of Holdings 374 17 12663 52.21%
Net Assets in Top 10 167 M 5.3 M 53 B 63.27%
Weighting of Top 10 24.84% 4.6% 98.5% 78.32%

Top 10 Holdings

  1. Ginnie Mae 3.37%
  2. Fannie Mae or Freddie Mac 3.22%
  3. Ginnie Mae 3.21%
  4. Fannie Mae or Freddie Mac 2.29%
  5. Ginnie Mae II Pool 2.22%
  6. Ginnie Mae II Pool 2.16%
  7. Freddie Mac Pool 2.14%
  8. Fannie Mae Pool 2.11%
  9. Principal Government Money Market Fund - Class R-6 2.06%
  10. Ginnie Mae II Pool 2.06%

Asset Allocation

Weighting Return Low Return High PMRJX % Rank
Bonds
102.07% 0.07% 159.23% 46.02%
Other
9.04% -23.81% 17.63% 4.87%
Cash
2.06% -20.28% 26.05% 44.25%
Stocks
0.00% 0.00% 96.18% 89.82%
Preferred Stocks
0.00% 0.00% 0.11% 89.82%
Convertible Bonds
0.00% 0.00% 3.29% 89.82%

Bond Sector Breakdown

Weighting Return Low Return High PMRJX % Rank
Securitized
79.37% 0.00% 99.79% 31.42%
Government
8.02% 0.00% 100.00% 68.58%
Cash & Equivalents
2.06% 0.00% 26.05% 39.38%
Derivative
0.28% -19.23% 1.69% 13.27%
Corporate
0.00% 0.00% 9.48% 93.36%
Municipal
0.00% 0.00% 5.24% 91.15%

Bond Geographic Breakdown

Weighting Return Low Return High PMRJX % Rank
US
102.07% 0.07% 159.23% 46.02%
Non US
0.00% 0.00% 2.20% 89.82%

PMRJX - Expenses

Operational Fees

PMRJX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.93% 0.03% 3.55% 32.44%
Management Fee 0.49% 0.00% 0.85% 83.63%
12b-1 Fee 0.15% 0.00% 1.00% 17.92%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

PMRJX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 4.50% N/A
Deferred Load 1.00% 1.00% 4.50% 92.59%

Trading Fees

PMRJX 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.

PMRJX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 343.70% 3.35% 948.00% 75.35%

PMRJX - Distributions

Dividend Yield Analysis

PMRJX Category Low Category High PMRJX % Rank
Dividend Yield 2.88% 0.00% 4.94% 83.63%

Dividend Distribution Analysis

PMRJX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Monthly Monthly

Net Income Ratio Analysis

PMRJX Category Low Category High PMRJX % Rank
Net Income Ratio 0.29% -0.80% 2.96% 78.22%

Capital Gain Distribution Analysis

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

Distributions History

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PMRJX - Fund Manager Analysis

Managers

Bryan Davis


Start Date

Tenure

Tenure Rank

Oct 17, 2019

2.62

2.6%

Davis is a senior trader/research analyst for Principal Global Investors. He is responsible for trading mortgage-backed securities and developing investment strategies related to mortgages and derivatives. Davis joined the firm in 1993 as a servicing valuation director for Principal Residential Mortgage. He earned a bachelor’s degree in Finance from the University of Iowa. He has earned the right to use the Chartered Financial Analyst esignation and is a member of the CFA Institute.

Zach Gassmann


Start Date

Tenure

Tenure Rank

Oct 17, 2019

2.62

2.6%

Zach Gassmann has been with Principal® since 2007. He received a master’s degree in financial management from Drake University and a bachelor’s degree in accounting from Simpson College. Mr. Gassmann has earned the right to use the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.11 31.64 8.38 7.35