Company: PDSRX
Filing Date: 2025-05-28
Form Type: N-CSR
Source: 0001756404-25-000011
Chunk: 70

Company: Principal Real Asset Fund
Filing Date: 2025-05-28
Form: N-CSR
Chunk 70
---

securities

owned

as

of

March

31,

2025,

by

correspondence

with

the

custodian,

investment

manager

of

the

private

investment

funds

and

brokers;

when

replies

were

not

received

from

brokers

or

investment

managers

of

the

private

investment

funds,

we

performed

other

auditing

procedures.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

### financial
statements.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinion.

We

have

served

as

the

auditor

of

one

or

more

Principal

investment

companies

since

1969.

Minneapolis,

Minnesota

May

23,

2025

#### Shareholder

#### Expense

#### Example

#### Principal

#### Real

#### Asset

#### Fund

#### March

#### 31,

#### 2025
**(unaudited)

25

As

a

shareholder

of

Principal

Real

Asset

Fund,

you

incur

two

types

of

costs:

(1)

transaction

costs,

including

sales

charges

on

purchase

payments

and

contingent

deferred

sales

charges;

and

(2)

ongoing

costs,

including**

### management
fees;

distribution

fees;

and

other

fund

expenses.

In

addition

to

the

expenses

the

Fund

bears

directly,

the

Fund

may

indirectly

bear

its

pro

rata

share

of

the

expenses

incurred

by

the

investment

companies

in

which

the

Fund

invests.

This

Example

is

intended

to

help

you

understand

your

ongoing

costs

(in

dollars)

of

investing

in

Principal

Real

Asset

Fund

and

to

compare

these

costs

with

the

ongoing

costs

of

investing

in

other