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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

$8.23

$3.39 B

6.88%

$0.57

0.63%

Vitals

YTD Return

2.9%

1 yr return

10.5%

3 Yr Avg Return

1.8%

5 Yr Avg Return

3.3%

Net Assets

$3.39 B

Holdings in Top 10

11.8%

52 WEEK LOW AND HIGH

$8.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.63%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 62.80%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

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

$8.23

$3.39 B

6.88%

$0.57

0.63%

PYHIX - Profile

Distributions

  • YTD Total Return 2.9%
  • 3 Yr Annualized Total Return 1.8%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.99%
DIVIDENDS
  • Dividend Yield 6.9%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    High Income Fund (f/k/a High Yield Fund I)
  • Fund Family Name
    Principal Funds
  • Inception Date
    Jan 12, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Randy Welch

Fund Description

Under normal circumstances, the Fund invests primarily in below investment grade bonds and bank loans (sometimes called “high yield” or “junk”), which 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”). If the bond or bank loan has been rated by only one of the rating agencies, that rating will determine the rating of the bond or bank loan; if the bond or bank loan is rated differently by the rating agencies, the highest rating will be used; and if the bond or bank loan has not been rated by either of the rating agencies, those selecting such investments will determine the quality of the bond or bank loan. The Fund also invests in investment grade bank loans (also known as senior floating rate interests) and securities of foreign issuers.
In managing the Fund, Principal Global Investors, LLC (“PGI”), the Fund’s investment advisor, allocates the Fund’s assets among multiple sub-advisors that use differing approaches in making their investment decisions, which include actively managed and more passive investment strategies. With respect to the passive strategy, the Fund uses a sampling methodology to purchase securities with generally the same risk and return characteristics as the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index (the “Index”) in an attempt to match or exceed the performance of the Index.
Under normal circumstances, the Fund maintains an average portfolio duration that is within ±25% of the duration of the Index, which as of January 31, 2024 was 3.33 years. The Fund is not managed to a particular maturity.
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PYHIX - Performance

Return Ranking - Trailing

Period PYHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -6.8% 8.3% 48.18%
1 Yr 10.5% -6.9% 19.2% 38.99%
3 Yr 1.8%* -15.4% 20.1% 35.64%
5 Yr 3.3%* -11.9% 36.8% 45.99%
10 Yr 3.4%* -5.3% 19.4% 42.86%

* Annualized

Return Ranking - Calendar

Period PYHIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% -4.7% 14.3% 54.04%
2022 -16.3% -33.4% 3.6% 65.76%
2021 -0.2% -8.4% 8.2% 58.50%
2020 -0.7% -13.2% 302.7% 64.15%
2019 4.5% -4.4% 13.3% 86.60%

Total Return Ranking - Trailing

Period PYHIX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -6.8% 8.3% 48.18%
1 Yr 10.5% -6.9% 19.2% 38.99%
3 Yr 1.8%* -15.4% 20.1% 35.64%
5 Yr 3.3%* -11.9% 36.8% 45.99%
10 Yr 3.4%* -5.3% 19.4% 42.86%

* Annualized

Total Return Ranking - Calendar

Period PYHIX Return Category Return Low Category Return High Rank in Category (%)
2023 13.0% -4.7% 18.7% 25.20%
2022 -11.0% -33.4% 47.8% 56.48%
2021 5.0% -8.4% 12.4% 48.33%
2020 5.4% -9.6% 325.6% 51.97%
2019 11.7% -3.8% 19.4% 77.95%

NAV & Total Return History


PYHIX - Holdings

Concentration Analysis

PYHIX Category Low Category High PYHIX % Rank
Net Assets 3.39 B 1.45 M 23.6 B 15.32%
Number of Holdings 1880 2 2888 0.95%
Net Assets in Top 10 399 M -492 M 5.26 B 15.87%
Weighting of Top 10 11.80% 4.2% 164.1% 64.29%

Top 10 Holdings

  1. Principal Government Money Market Fund - Class R-6 5.25%
  2. NFP Corp 1.26%
  3. BlackRock Liquidity FedFund - Institutional Class 1.03%
  4. 1011778 BC ULC / New Red Finance Inc 0.71%
  5. UKG Inc 0.66%
  6. Tenet Healthcare Corp 0.63%
  7. Nexus Buyer LLC 0.62%
  8. Burford Capital Global Finance LLC 0.56%
  9. SSC Technologies Inc 0.56%
  10. Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC 0.55%

Asset Allocation

Weighting Return Low Return High PYHIX % Rank
Bonds
96.70% -0.88% 154.38% 32.07%
Cash
6.28% -52.00% 48.07% 25.24%
Convertible Bonds
0.77% 0.00% 17.89% 63.65%
Stocks
0.36% 0.00% 99.58% 51.97%
Other
0.00% -63.70% 100.29% 42.38%
Preferred Stocks
0.00% 0.00% 7.88% 96.98%

Stock Sector Breakdown

Weighting Return Low Return High PYHIX % Rank
Utilities
0.00% 0.00% 100.00% 78.84%
Technology
0.00% 0.00% 33.17% 80.29%
Real Estate
0.00% 0.00% 86.71% 79.20%
Industrials
0.00% 0.00% 93.12% 83.91%
Healthcare
0.00% 0.00% 22.17% 79.75%
Financial Services
0.00% 0.00% 100.00% 2.35%
Energy
0.00% 0.00% 100.00% 93.31%
Communication Services
0.00% 0.00% 99.99% 88.61%
Consumer Defense
0.00% 0.00% 100.00% 78.84%
Consumer Cyclical
0.00% 0.00% 100.00% 81.74%
Basic Materials
0.00% 0.00% 100.00% 82.28%

Stock Geographic Breakdown

Weighting Return Low Return High PYHIX % Rank
US
0.33% 0.00% 99.58% 51.11%
Non US
0.03% -0.01% 0.83% 8.89%

Bond Sector Breakdown

Weighting Return Low Return High PYHIX % Rank
Corporate
96.39% 0.00% 100.00% 35.77%
Cash & Equivalents
6.28% 0.00% 48.07% 23.97%
Securitized
0.16% 0.00% 97.24% 35.93%
Derivative
0.00% -14.70% 42.26% 30.79%
Municipal
0.00% 0.00% 1.17% 95.55%
Government
0.00% 0.00% 99.07% 96.34%

Bond Geographic Breakdown

Weighting Return Low Return High PYHIX % Rank
US
96.45% -0.88% 129.21% 24.92%
Non US
0.26% 0.00% 98.19% 39.05%

PYHIX - Expenses

Operational Fees

PYHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.63% 0.02% 38.33% 82.73%
Management Fee 0.61% 0.00% 1.84% 70.57%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

PYHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PYHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

PYHIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 62.80% 1.00% 255.00% 44.29%

PYHIX - Distributions

Dividend Yield Analysis

PYHIX Category Low Category High PYHIX % Rank
Dividend Yield 6.88% 0.00% 11.76% 13.41%

Dividend Distribution Analysis

PYHIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

PYHIX Category Low Category High PYHIX % Rank
Net Income Ratio 4.99% -2.39% 14.30% 20.84%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PYHIX - Fund Manager Analysis

Managers

Randy Welch


Start Date

Tenure

Tenure Rank

Jul 19, 2007

14.88

14.9%

Mr. Welch is a Vice President of Principal Management Corporation. Mr. Welch joined the Principal Financial Group in 1989 and oversees the functions of the Investment Services group, which includes investment manager research, investment consulting, performance analysis, and investment communication. He is also responsible for the due diligence program that monitors investment managers used by the Principal Funds. Mr. Welch is an affiliate member of the Chartered Financial Analysts (CFA) Institute. Mr. Welch earned a B.A. in Business/ Finance from Grand View College and an M.B.A. from Drake University.

James Fennessey


Start Date

Tenure

Tenure Rank

Jul 19, 2007

14.88

14.9%

Mr. Fennessey, CFA, Vice President of Principal Management Corporation. Mr. Fennessey joined the Principal Financial Group in 2000. He is the Head of the Manager Research Team that is responsible for analyzing, interpreting and coordinating investment performance data and evaluation of the investment managers under the due diligence program that monitors investment managers used by the Principal Funds and is a member of the Principal Funds Investment Committee. Fennessey earned a B.S. in Business Administration, with an emphasis in Finance, and a minor in Economics from Truman State University. He has earned the right to use the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.17 8.17