Continue to site >
Trending ETFs

Name

As of 06/12/2024

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

$6.77

$556 M

2.73%

$0.18

1.74%

Vitals

YTD Return

0.0%

1 yr return

3.2%

3 Yr Avg Return

-2.8%

5 Yr Avg Return

-0.1%

Net Assets

$556 M

Holdings in Top 10

14.0%

52 WEEK LOW AND HIGH

$6.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.74%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover 24.80%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/12/2024

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

$6.77

$556 M

2.73%

$0.18

1.74%

PTBCX - Profile

Distributions

  • YTD Total Return 0.0%
  • 3 Yr Annualized Total Return -2.8%
  • 5 Yr Annualized Total Return -0.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.37%
DIVIDENDS
  • Dividend Yield 2.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Tax-Exempt Bond Fund formerly Tax-Exempt Bond Fund I
  • Fund Family Name
    Principal Funds
  • Inception Date
    Jan 18, 2007
  • Shares Outstanding
    N/A
  • Share Class
    C
  • 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 tax-exempt bonds (securities issued by or on behalf of state or local governments and other public authorities) at the time of purchase. Many of these are from California, Illinois, and New York. Generally, municipal obligations pay interest that is exempt from federal income tax. The Fund’s investment in municipal obligations include industrial revenue bonds. The Fund also invests in inverse floating rate obligations (variable rate debt instruments that pay interest at rates that move in the opposite direction of prevailing interest rates), which are generally more volatile than other types of municipal obligations and may involve leverage.
The Fund invests in investment-grade securities and, with respect to up to 20% of its net assets, in below-investment-grade bonds (sometimes called “high yield bonds” or “junk bonds”). Below-investment-grade bonds 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”). The Fund’s total investment in below-investment-grade bonds plus investment-grade bonds rated Baa by Moody’s or BBB by S&P Global, at the time of purchase, will not exceed 40% of the Fund’s net assets. 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.
Under normal circumstances, the Fund maintains an average portfolio duration that is within ±50% of the duration of the Bloomberg Municipal Bond Index, which as of January 31, 2024 was 5.56 years. The Fund is not managed to a particular maturity.
Read More

PTBCX - Performance

Return Ranking - Trailing

Period PTBCX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -3.7% 16.7% 71.47%
1 Yr 3.2% -2.4% 30.5% 76.07%
3 Yr -2.8%* -11.5% 2.7% 93.12%
5 Yr -0.1%* -6.5% 1101.4% 87.69%
10 Yr 1.4%* -0.6% 248.3% 63.50%

* Annualized

Return Ranking - Calendar

Period PTBCX Return Category Return Low Category Return High Rank in Category (%)
2023 3.3% -1.4% 41.0% 27.17%
2022 -14.0% -39.7% 0.3% 82.30%
2021 0.5% -5.6% 6.9% 14.89%
2020 2.5% -2.6% 310.0% 15.57%
2019 5.5% 0.0% 26.0% 9.01%

Total Return Ranking - Trailing

Period PTBCX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.0% -3.7% 16.7% 71.47%
1 Yr 3.2% -2.4% 30.5% 76.07%
3 Yr -2.8%* -11.5% 2.7% 93.12%
5 Yr -0.1%* -6.5% 1101.4% 87.69%
10 Yr 1.4%* -0.6% 248.3% 63.50%

* Annualized

Total Return Ranking - Calendar

Period PTBCX Return Category Return Low Category Return High Rank in Category (%)
2023 5.9% -1.3% 41.0% 44.95%
2022 -12.4% -39.7% 1.1% 88.11%
2021 2.1% -4.8% 23761504.0% 36.90%
2020 4.1% -1.5% 17057.9% 39.50%
2019 6.8% 0.2% 3514.6% 40.78%

NAV & Total Return History


PTBCX - Holdings

Concentration Analysis

PTBCX Category Low Category High PTBCX % Rank
Net Assets 556 M 3.22 M 71.9 B 44.21%
Number of Holdings 247 2 13067 47.17%
Net Assets in Top 10 77.3 M -317 M 3.56 B 51.59%
Weighting of Top 10 13.96% 2.0% 100.2% 68.14%

Top 10 Holdings

  1. City of Atlanta GA Airport Passenger Facility Charge 1.88%
  2. Texas Municipal Gas Acquisition and Supply Corp I 1.59%
  3. Sports Exhibition Authority of Pittsburgh Allegheny County 1.43%
  4. State of Illinois 1.39%
  5. Kentucky Turnpike Authority 1.36%
  6. New York Transportation Development Corp 1.34%
  7. California Infrastructure Economic Development Bank 1.28%
  8. California Housing Finance Agency 1.25%
  9. Louisiana Local Government Environmental Facilities Community Development Authority 1.23%
  10. New Hampshire Business Finance Authority 1.21%

Asset Allocation

Weighting Return Low Return High PTBCX % Rank
Bonds
99.24% 0.00% 150.86% 33.57%
Cash
0.67% -50.86% 46.80% 68.94%
Stocks
0.09% 0.00% 99.81% 7.34%
Preferred Stocks
0.00% 0.00% 0.56% 94.48%
Other
0.00% -3.18% 33.35% 90.45%
Convertible Bonds
0.00% 0.00% 0.93% 94.46%

Stock Sector Breakdown

Weighting Return Low Return High PTBCX % 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% 100.00% 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% 100.00% N/A
Consumer Defense
0.00% 0.00% 0.00% N/A
Consumer Cyclical
0.00% 0.00% 100.00% N/A
Basic Materials
0.00% 0.00% 0.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High PTBCX % Rank
US
0.09% 0.00% 99.81% 7.34%
Non US
0.00% 0.00% 10.47% 94.48%

Bond Sector Breakdown

Weighting Return Low Return High PTBCX % Rank
Municipal
99.33% 44.39% 100.00% 33.33%
Derivative
0.00% -3.18% 19.67% 89.86%
Cash & Equivalents
0.00% 0.00% 46.24% 98.44%
Securitized
0.00% 0.00% 5.93% 94.85%
Corporate
0.00% 0.00% 9.41% 95.56%
Government
0.00% 0.00% 52.02% 95.17%

Bond Geographic Breakdown

Weighting Return Low Return High PTBCX % Rank
US
99.24% 0.00% 142.23% 31.71%
Non US
0.00% 0.00% 23.89% 94.48%

PTBCX - Expenses

Operational Fees

PTBCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.74% 0.01% 20.65% 4.49%
Management Fee 0.40% 0.00% 1.20% 44.35%
12b-1 Fee 1.00% 0.00% 1.00% 98.89%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

PTBCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load 1.00% 0.25% 5.00% 90.37%

Trading Fees

PTBCX 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.

PTBCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 24.80% 0.00% 283.00% 71.52%

PTBCX - Distributions

Dividend Yield Analysis

PTBCX Category Low Category High PTBCX % Rank
Dividend Yield 2.73% 0.00% 14.51% 81.56%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PTBCX Category Low Category High PTBCX % Rank
Net Income Ratio 1.37% -0.53% 5.33% 76.73%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PTBCX - Fund Manager Analysis

Managers

James Noble


Start Date

Tenure

Tenure Rank

Sep 20, 2011

10.7

10.7%

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
0.08 35.05 7.36 1.58