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Trending ETFs

Name

As of 06/18/2024

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

$8.27

$1.82 B

0.00%

1.36%

Vitals

YTD Return

-3.2%

1 yr return

5.6%

3 Yr Avg Return

-6.0%

5 Yr Avg Return

-0.8%

Net Assets

$1.82 B

Holdings in Top 10

35.0%

52 WEEK LOW AND HIGH

$8.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.36%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover 25.90%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/18/2024

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

$8.27

$1.82 B

0.00%

1.36%

POSAX - Profile

Distributions

  • YTD Total Return -3.2%
  • 3 Yr Annualized Total Return -6.0%
  • 5 Yr Annualized Total Return -0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.22%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Global Real Estate Securities Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Oct 01, 2007
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Simon Hedger

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of U.S. and non-U.S. companies principally engaged in the real estate industry at the time of purchase. For the Fund’s investment policies, a real estate company has at least 50% of its assets, income, or profits derived from products or services related to the real estate industry. Real estate companies include real estate investment trusts (“REITs”) and companies with substantial real estate holdings such as paper, lumber, hotel, and entertainment companies, as well as those whose products and services relate to the real estate industry, such as building supply manufacturers, mortgage lenders, and mortgage servicing companies. The Fund invests in equity securities regardless of market capitalization (small, medium or large). The Fund invests in value equity securities and growth equity securities.
The Fund invests a significant percentage of its portfolio in REITs and foreign REIT-like entities. REITs are pooled investment vehicles that invest in income producing real estate, real estate related loans, or other types of real estate interests. REITs in the U.S. are corporations or business trusts that are permitted to eliminate corporate-level federal income taxes by meeting certain requirements of the Internal Revenue Code. Some foreign countries have adopted REIT structures that are very similar to those in the U.S. Similarities include pass-through tax treatment and portfolio diversification. Other countries have REIT structures that are significantly different than the structure in the U.S., while some countries have not adopted a REIT-like structure at all.
Under normal market conditions, the Fund holds investments tied economically to at least 3 countries and invests a percentage of its net assets in securities of foreign issuers equal to at least the lesser of 40% or the percentage foreign issuers in FTSE EPRA/NAREIT Developed Index minus 10%.
The Fund concentrates its investments (invest more than 25% of its net assets) in securities in the real estate industry.
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POSAX - Performance

Return Ranking - Trailing

Period POSAX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.2% -13.7% 19.9% 45.90%
1 Yr 5.6% -15.0% 14.9% 53.01%
3 Yr -6.0%* -17.1% 18.5% 75.58%
5 Yr -0.8%* -10.8% 16.0% 71.35%
10 Yr 2.9%* -3.3% 10.6% 43.40%

* Annualized

Return Ranking - Calendar

Period POSAX Return Category Return Low Category Return High Rank in Category (%)
2023 7.8% -16.8% 16.7% 57.46%
2022 -27.6% -43.9% 4.5% 43.18%
2021 20.2% -13.9% 30.7% 50.00%
2020 -5.1% -20.7% 13.7% 40.70%
2019 16.2% 1.0% 26.5% 44.44%

Total Return Ranking - Trailing

Period POSAX Return Category Return Low Category Return High Rank in Category (%)
YTD -3.2% -13.7% 19.9% 45.90%
1 Yr 5.6% -15.0% 14.9% 53.01%
3 Yr -6.0%* -17.1% 18.5% 75.58%
5 Yr -0.8%* -10.8% 16.0% 71.35%
10 Yr 2.9%* -3.3% 10.6% 43.40%

* Annualized

Total Return Ranking - Calendar

Period POSAX Return Category Return Low Category Return High Rank in Category (%)
2023 10.4% -14.6% 23.4% 61.88%
2022 -27.0% -39.5% 10.1% 81.25%
2021 23.0% 5.7% 101.8% 71.51%
2020 -4.2% -17.8% 14.7% 45.93%
2019 23.9% 4.3% 37.2% 49.12%

NAV & Total Return History


POSAX - Holdings

Concentration Analysis

POSAX Category Low Category High POSAX % Rank
Net Assets 1.82 B 4.31 M 7.19 B 13.33%
Number of Holdings 74 5 682 50.82%
Net Assets in Top 10 675 M 1.84 M 4.29 B 17.49%
Weighting of Top 10 34.97% 19.9% 62.1% 81.87%

Top 10 Holdings

  1. Prologis Inc 4.82%
  2. Welltower Inc 4.22%
  3. Equinix Inc 4.17%
  4. Extra Space Storage Inc 3.90%
  5. Ventas Inc 3.48%
  6. AvalonBay Communities Inc 3.19%
  7. VICI Properties Inc 2.91%
  8. Digital Realty Trust Inc 2.90%
  9. Invitation Homes Inc 2.82%
  10. Rexford Industrial Realty Inc 2.56%

Asset Allocation

Weighting Return Low Return High POSAX % Rank
Stocks
98.63% 3.11% 126.54% 56.83%
Cash
1.37% 0.00% 10.38% 55.74%
Preferred Stocks
0.00% 0.00% 7.47% 61.20%
Other
0.00% -33.49% 103.58% 67.76%
Convertible Bonds
0.00% 0.00% 0.07% 58.79%
Bonds
0.00% 0.00% 23.57% 61.20%

Stock Sector Breakdown

Weighting Return Low Return High POSAX % Rank
Real Estate
96.92% 72.53% 100.00% 56.18%
Consumer Cyclical
2.04% 0.00% 13.03% 13.48%
Technology
0.54% 0.00% 4.92% 37.64%
Communication Services
0.50% 0.00% 10.08% 48.88%
Utilities
0.00% 0.00% 0.96% 60.11%
Industrials
0.00% 0.00% 4.91% 65.73%
Healthcare
0.00% 0.00% 1.54% 63.48%
Financial Services
0.00% 0.00% 9.53% 68.54%
Energy
0.00% 0.00% 0.11% 58.99%
Consumer Defense
0.00% 0.00% 0.18% 60.67%
Basic Materials
0.00% 0.00% 1.63% 60.11%

Stock Geographic Breakdown

Weighting Return Low Return High POSAX % Rank
US
62.12% 0.00% 100.72% 50.82%
Non US
36.51% 0.00% 98.96% 50.27%

POSAX - Expenses

Operational Fees

POSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.36% 0.11% 36.96% 49.73%
Management Fee 0.87% 0.09% 1.50% 70.33%
12b-1 Fee 0.25% 0.00% 1.00% 37.04%
Administrative Fee N/A 0.01% 0.25% N/A

Sales Fees

POSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 3.50% 5.75% 58.06%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

POSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 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.

POSAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 25.90% 1.00% 165.00% 20.34%

POSAX - Distributions

Dividend Yield Analysis

POSAX Category Low Category High POSAX % Rank
Dividend Yield 0.00% 0.00% 5.52% 45.36%

Dividend Distribution Analysis

POSAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Annual

Net Income Ratio Analysis

POSAX Category Low Category High POSAX % Rank
Net Income Ratio 1.22% -0.23% 3.84% 59.22%

Capital Gain Distribution Analysis

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

Distributions History

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POSAX - Fund Manager Analysis

Managers

Simon Hedger


Start Date

Tenure

Tenure Rank

Oct 01, 2007

14.67

14.7%

Simon is a managing director of real estate securities portfolio management for Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors. Based in London, he is responsible for the firm's European, Middle East, and Africa real estate capability in REITs and listed real estate securities. Simon has over 34 years of real estate experience, including extensive time spent in both the United Kingdom and Australia markets. This includes positions both as an analyst and as a portfolio manager. He joined Principal Global Investors in 2003. Previously, Simon worked for Domaine real estate funds, managing the assets of its real estate syndicates. Prior to this, he was a senior equities analyst at Prudential Bache/BNP Equities. His background also includes positions as fund manager for Paladin Commercial Trust and GEM Commercial Property Trust, as well as a variety of real estate related roles with Prudential Assurance Company in both Australia and the United Kingdom. Simon received an MBA from the University of New England and is an associate member of the Royal Institute of Chartered Surveyors, the Australian Property Institute and the FTSE EPRA NAREIT European Regional Index Committee.

Kelly Rush


Start Date

Tenure

Tenure Rank

Oct 01, 2007

14.67

14.7%

As head of global property securities, Kelly directs the domestic and global real estate investment trust (REIT) activity for Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He has experience in both separate account and pooled fund management, and has been managing real estate stock portfolios since 1997. Previously, Kelly participated in structuring commercial mortgage loans for public real estate companies and the analysis of real estate investment trust issued bonds. He has been with the real estate investment area of the firm since 1987. Kelly received an MBA in business administration and a bachelor's degree in finance from the University of Iowa. He has earned the right to use the Chartered Financial Analyst designation. Kelly is a member of the Iowa Society of Financial Analysts and the CFA Institute. Kelly is an active supporter of the Toigo Foundation and is currently serving as a mentor to a 2007 Toigo Fellow. Kelly’s prior speaking engagements include the Institutional Investor Endowments & Foundations Roundtable, the NAREIT Institutional Investor Forum, the National Conference of Public Employee Retirement Systems (NCPERS), and the International Council of Shopping Centers (ICSC) Law Conference.

Anthony Kenkel


Start Date

Tenure

Tenure Rank

Sep 16, 2010

11.71

11.7%

Anthony is a managing director of real estate securities portfolio management for Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors. Currently based in Singapore, he is responsible for the firm’s Asia Pacific real estate capability in REITs and listed real estate securities, and has prior experience managing the firm’s Americas real estate capabilities. He also remains active in managing U.S. securities as one of the teams listed U.S. portfolio managers. Anthony joined Principal in 1997. In 2000, he became a real estate consultant for Arthur Andersen before joining GATX Corporation as a senior financial analyst in 2002. Anthony rejoined Principal in 2005 in his current position. He received a bachelor's degree in finance from Drake University and an MBA from the University of Chicago Graduate School of Business. Anthony has earned the right to use the Chartered Financial Analyst and Financial Risk Manager designations.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 20.42 7.11 10.42