Company: PDSRX
Filing Date: 2025-05-28
Form Type: N-CSR
Source: 0001756404-25-000011
Chunk: 8

Company: Principal Real Asset Fund
Filing Date: 2025-05-28
Form: N-CSR
Chunk 8
---
positive

performance

including

utilities,

transportation,

energy

infrastructure

and

digital

infrastructure.

Within

the

private

natural

resources

portfolio,

U.S.

core

farmland

performed

well,

as

did

core

U.S.

timberland.

Within

private

real

estate,

there

was

mixed

performance

as

valuations

look

to

have

bottomed.

#### Value

#### of

#### a
**$10**

#### 0,000

#### Investment*
June

25,

2019

#### -

March

31,

2025

#### 1-Year

#### 5-Year

#### Since

#### Inception

#### Inception

#### Date

#### Class

#### A

#### Shares
Excluding

Sales

Charge

3.28%

10.20%

4.37%

6/25/19

Including

Sales

Charge

-2.65%

8.91%

3.30%

#### Class

#### Y

#### Shares
3.82%

10.76%

4.89%

6/25/19

#### Institutional

#### Shares
3.62%

10.55%

4.69%

6/25/19

*Performance

assumes

reinvestment

of

all

dividends

and

capital

gains.

Performance

does

not

reflect

the

impact

of

federal,

state,

or

municipal

taxes.

If

it

did,

performance

would

be

lower.

**Performance

shown

for

the

benchmark

assumes

reinvestment

of

all

dividends

and

distributions.

Indices

are

unmanaged,

and

individuals

cannot

invest

directly

in

an

index.

#### Statement

#### of

#### Assets

#### and

#### Liabilities

#### March

#### 31,

#### 2025
5

See

accompanying

notes.

Amounts

in

thousands,

except

per

share

amounts

#### Principal

#### Real

#### Asset

#### Fund

#### Investment

#### in

#### securities--at

#### cost
**............................................................................................................................

$

165,016‌**

#### Foreign

#### currency--at

#### cost
**....................................................................................................................................

$

244‌**

#### Assets
Investment

in

securities--at

value

............................................................................................................................

$

171,047