# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0000898745-25-000681
**Filing Date:** 2025-12
**Character Count:** 50378
**Document Hash:** d3f0adbba2e16a0f4b14a0b02e6a249b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000898745-25-000681.hdr.sgml**: 20251215

**ACCESSION NUMBER**: 0000898745-25-000681

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251215

**DATE AS OF CHANGE**: 20251215

**EFFECTIVENESS DATE**: 20251215

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRINCIPAL FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000898745

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-59474
- **FILM NUMBER:** 251570511

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-235-9328

**MAIL ADDRESS:**
- **STREET 1:** PRINCIPAL FINANCIAL GROUP
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS, INC
- **DATE OF NAME CHANGE:** 20211220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS INC
- **DATE OF NAME CHANGE:** 20080616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL INVESTORS FUND INC
- **DATE OF NAME CHANGE:** 20001012

## Series and Classes Contracts Data

### Core Plus Bond Fund fka Bond & Mortgage Securities Fund (Series ID: S000006952)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PBMMX         | C000018958 |
| R-5                 | PBMPX         | C000018959 |
| Institutional Class | PMSIX         | C000018961 |
| J Class             | PBMJX         | C000018962 |
| A Class             | PRBDX         | C000018963 |

---

### Diversified International Fund (Series ID: S000006992)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PINRX         | C000019054 |
| R-5                 | PINPX         | C000019055 |
| Institutional Class | PIIIX         | C000019057 |
| Class J             | PIIJX         | C000019058 |
| Class A             | PRWLX         | C000019059 |
| Class R-6           | PDIFX         | C000210673 |

---

### Inflation Protection Fund (Series ID: S000006997)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PIFPX         | C000019081 |
| R-5                 | PBPPX         | C000019082 |
| Class J             | PIPJX         | C000019085 |
| Institutional Class | PIPIX         | C000019086 |

---

### Global Emerging Markets Fund (f/k/a International Emerging Markets Fund) (Series ID: S000007013)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PEAPX         | C000019140 |
| R-5                 | PEPSX         | C000019142 |
| Institutional Class | PIEIX         | C000019144 |
| Class J             | PIEJX         | C000019145 |
| Class A             | PRIAX         | C000019146 |
| R-6                 | PIIMX         | C000175481 |

---

### LargeCap S&P 500 Index Fund (Series ID: S000007016)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PLFMX         | C000019169 |
| R-5                 | PLFPX         | C000019170 |
| Institutional Class | PLFIX         | C000019172 |
| Class J             | PSPJX         | C000019173 |
| Class A             | PLSAX         | C000019174 |

---

### MidCap Fund (f/k/a MidCap Blend Fund) (Series ID: S000007075)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PMBMX         | C000019312 |
| R-5                 | PMBPX         | C000019313 |
| Institutional Class | PCBIX         | C000019315 |
| Class J             | PMBJX         | C000019316 |
| Class A             | PEMGX         | C000019317 |
| Class C             | PMBCX         | C000038781 |
| R-6                 | PMAQX         | C000175482 |

---

### LargeCap Growth Fund I (Series ID: S000007077)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PPUMX         | C000019328 |
| R-5                 | PPUPX         | C000019329 |
| Institutional Class | PLGIX         | C000019331 |
| Class J             | PLGJX         | C000019332 |
| Class A             | PLGAX         | C000019333 |
| R-6                 | PLCGX         | C000149257 |

---

### MidCap S&P 400 Index Fund (Series ID: S000007079)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | MPSIX         | C000019343 |
| R-3                 | PMFMX         | C000019345 |
| R-5                 | PMFPX         | C000019346 |
| Class J             | PMFJX         | C000019348 |
| R-6                 | PMAPX         | C000175483 |

---

### Money Market Fund (Series ID: S000007081)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class J    | PMJXX         | C000019362 |
| Class A    | PCSXX         | C000019363 |

---

### International Equity Fund (formerly, International Fund I) (Series ID: S000007083)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PRPPX         | C000019372 |
| R-5                 | PTPPX         | C000019373 |
| Institutional Class | PINIX         | C000019376 |
| R-6                 | PIIDX         | C000175484 |

---

### LargeCap Value Fund III (Series ID: S000007122)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PPSFX         | C000019460 |
| R-5                 | PPSRX         | C000019461 |
| Institutional Class | PLVIX         | C000019463 |
| Class J             | PLVJX         | C000019464 |

---

### SmallCap Value Fund II (Series ID: S000007169)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PJARX         | C000019585 |
| R-5                 | PLARX         | C000019586 |
| Institutional Class | PPVIX         | C000019589 |
| Class J             | PSMJX         | C000076717 |
| R-6                 | PSMVX         | C000149259 |

---

### MidCap Value Fund I (Series ID: S000007173)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PMPRX         | C000019614 |
| R-5                 | PABVX         | C000019615 |
| Institutional Class | PVMIX         | C000019618 |
| Class J             | PVEJX         | C000076718 |
| A                   | PCMVX         | C000210674 |
| Class R-6           | PCMSX         | C000210675 |

---

### SmallCap Growth Fund I (Series ID: S000007175)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PPNMX         | C000019627 |
| R-5                 | PPNPX         | C000019628 |
| Institutional Class | PGRTX         | C000019630 |
| Class J             | PSIJX         | C000019631 |
| R-6                 | PCSMX         | C000149260 |

---

### SmallCap S&P 600 Index Fund (Series ID: S000007203)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PSSMX         | C000019716 |
| R-5                 | PSSPX         | C000019717 |
| Institutional Class | PSSIX         | C000019719 |
| Class J             | PSSJX         | C000019720 |
| R-6                 | PSPIX         | C000175485 |

---

### Principal LifeTime 2020 Fund (Series ID: S000007207)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PTBMX         | C000019742 |
| R-5                 | PTBPX         | C000019743 |
| Institutional Class | PLWIX         | C000019745 |
| Class J             | PLFJX         | C000019746 |
| Class A             | PTBAX         | C000019747 |

---

### Principal LifeTime 2030 Fund (Series ID: S000007208)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PTCMX         | C000019751 |
| R-5                 | PTCPX         | C000019752 |
| Institutional Class | PMTIX         | C000019754 |
| Class J             | PLTJX         | C000019755 |
| Class A             | PTCAX         | C000019756 |

---

### Principal LifeTime 2040 Fund (Series ID: S000007209)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PTDMX         | C000019760 |
| R-5                 | PTDPX         | C000019761 |
| Institutional Class | PTDIX         | C000019763 |
| Class J             | PTDJX         | C000019764 |
| Class A             | PTDAX         | C000019765 |

---

### Principal LifeTime 2050 Fund (Series ID: S000007210)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PTERX         | C000019770 |
| R-5                 | PTEFX         | C000019771 |
| Institutional Class | PPLIX         | C000019773 |
| Class J             | PFLJX         | C000019774 |
| Class A             | PPEAX         | C000019775 |

---

### Principal LifeTime Strategic Income Fund (Series ID: S000007211)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PLSMX         | C000019779 |
| R-5                 | PLSPX         | C000019780 |
| Institutional Class | PLSIX         | C000019782 |
| Class J             | PLSJX         | C000019783 |
| Class A             | PALTX         | C000019784 |

---

### Real Estate Securities Fund (Series ID: S000007212)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PRERX         | C000019787 |
| R-5                 | PREPX         | C000019788 |
| Institutional Class | PIREX         | C000019790 |
| Class J             | PREJX         | C000019791 |
| Class A             | PRRAX         | C000019792 |
| Class C             | PRCEX         | C000038802 |
| R-6                 | PFRSX         | C000175486 |

---

### SmallCap Fund (fka SmallCap Blend Fund) (Series ID: S000007214)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | PSBMX         | C000019804 |
| R-5                 | PSBPX         | C000019805 |
| Institutional Class | PSLIX         | C000019807 |
| Class J             | PSBJX         | C000019808 |
| Class A             | PLLAX         | C000019809 |
| R-6                 | PSMLX         | C000175487 |

---

### California Municipal Fund (Series ID: S000014232)

---

|  |  |  |
|:---|:---|:---|
| Class Name    | Ticker Symbol | Class ID   |
| Class A       | SRCMX         | C000038715 |
| Class C       | SRCCX         | C000038717 |
| Institutional | PCMFX         | C000153061 |

---

### Strategic Asset Management Conservative Balanced Portfolio (Series ID: S000014233)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | SAIPX         | C000038718 |
| Class C             | SCIPX         | C000038720 |
| Institutional Class | PCCIX         | C000038721 |
| R-3                 | PCBPX         | C000039337 |
| R-5                 | PCBFX         | C000039340 |
| Class J             | PCBJX         | C000039341 |

---

### Strategic Asset Management Conservative Growth Portfolio (Series ID: S000014234)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | SAGPX         | C000038722 |
| Class C             | SCGPX         | C000038724 |
| Institutional Class | PCWIX         | C000038725 |
| R-5                 | PCWPX         | C000039343 |
| Class J             | PCGJX         | C000039344 |
| R-3                 | PCGPX         | C000039346 |

---

### Strategic Asset Management Flexible Income Portfolio (Series ID: S000014235)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | SAUPX         | C000038726 |
| Class C             | SCUPX         | C000038728 |
| Institutional Class | PIFIX         | C000038729 |
| R-3                 | PFIPX         | C000039349 |
| R-5                 | PFIFX         | C000039352 |
| Class J             | PFIJX         | C000039353 |

---

### Strategic Asset Management Strategic Growth Portfolio (Series ID: S000014236)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | SACAX         | C000038730 |
| Class C             | SWHCX         | C000038732 |
| Institutional Class | PSWIX         | C000038733 |
| R-3                 | PSGPX         | C000039355 |
| R-5                 | PSGFX         | C000039358 |
| Class J             | PSWJX         | C000039359 |

---

### Tax-Exempt Bond Fund formerly Tax-Exempt Bond Fund I (Series ID: S000014237)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | PTEAX         | C000038734 |
| Class C             | PTBCX         | C000038736 |
| Institutional Class | PITEX         | C000158782 |

---

### Principal Capital Appreciation Fund (fka West Coast Equity Fund) (Series ID: S000014238)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | CMNWX         | C000038737 |
| Institutional Class | PWCIX         | C000038740 |
| R-3                 | PCAOX         | C000085760 |
| R-5                 | PCAQX         | C000085762 |

---

### Equity Income Fund formerly Equity Income Fund I (Series ID: S000014240)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | PQIAX         | C000038744 |
| Class C             | PEUCX         | C000038746 |
| Institutional Class | PEIIX         | C000038747 |
| R-3                 | PEIOX         | C000085765 |
| R-5                 | PEIQX         | C000085767 |
| Class J             | PEIJX         | C000204702 |

---

### High Yield Fund (Series ID: S000014241)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | CPHYX         | C000038748 |
| Class C             | CCHIX         | C000038750 |
| Institutional Class | PHYTX         | C000038751 |
| R-6                 | PHYFX         | C000175488 |

---

### Core Fixed Income Fund (f/k/a Income Fund) (Series ID: S000014242)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | CMPIX         | C000038752 |
| Institutional Class | PIOIX         | C000038755 |
| Class J             | PIOJX         | C000080382 |
| R-5                 | PIOQX         | C000085768 |
| R-3                 | PIOOX         | C000085771 |
| R-6                 | PICNX         | C000149261 |

---

### Government & High Quality Bond Fund (f/k/a Mortgage Securities Fund) (Series ID: S000014244)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | CMPGX         | C000038760 |
| Institutional Class | PMRIX         | C000038763 |
| R-3                 | PRCMX         | C000113842 |
| R-5                 | PMREX         | C000113844 |
| Class J             | PMRJX         | C000113845 |

---

### Short-Term Income Fund (Series ID: S000014245)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | SRHQX         | C000038764 |
| Class C             | STCCX         | C000038766 |
| Institutional Class | PSHIX         | C000038767 |
| Class J             | PSJIX         | C000090493 |
| R-3                 | PSIOX         | C000090496 |
| R-5                 | PSIQX         | C000090498 |

---

### Strategic Asset Management Balanced Portfolio (Series ID: S000014246)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | SABPX         | C000038768 |
| Class C             | SCBPX         | C000038770 |
| Institutional Class | PSBIX         | C000038771 |
| R-3                 | PBAPX         | C000039361 |
| R-5                 | PSBFX         | C000039364 |
| Class J             | PSAJX         | C000039365 |

---

### Global Real Estate Securities Fund (Series ID: S000019119)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | POSAX         | C000052887 |
| Institutional Class | POSIX         | C000052889 |
| R-6                 | PGRSX         | C000149262 |
| R-3                 | PGRKX         | C000167005 |
| R-5                 | PGRUX         | C000167007 |

---

### Principal LifeTime 2015 Fund (Series ID: S000022103)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | LTINX         | C000063423 |
| R-3                 | LTAPX         | C000063424 |
| R-5                 | LTPFX         | C000063426 |

---

### Principal LifeTime 2025 Fund (Series ID: S000022104)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | LTSTX         | C000063429 |
| R-3                 | LTVPX         | C000063431 |
| R-5                 | LTPDX         | C000063433 |

---

### Principal LifeTime 2035 Fund (Series ID: S000022105)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | LTAOX         | C000063435 |
| R-5                 | LTPEX         | C000063437 |
| Institutional Class | LTIUX         | C000063439 |

---

### Principal LifeTime 2045 Fund (Series ID: S000022106)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | LTRVX         | C000063441 |
| R-5                 | LTRDX         | C000063443 |
| Institutional Class | LTRIX         | C000063445 |

---

### Principal LifeTime 2055 Fund (Series ID: S000022107)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| R-3                 | LTFDX         | C000063447 |
| R-5                 | LTFPX         | C000063449 |
| Institutional Class | LTFIX         | C000063451 |

---

### Overseas Fund (f/k/a International Value Fund I) (Series ID: S000023512)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PINZX         | C000069149 |
| R-3 Class           | PINTX         | C000111521 |

---

### Diversified Income Fund (f/k/a Global Diversified Income Fund) (Series ID: S000024296)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PGDIX         | C000071805 |
| Class A             | PGBAX         | C000071807 |
| Class C             | PGDCX         | C000071808 |
| R-6                 | PGBLX         | C000190075 |

---

### Principal LifeTime 2060 Fund (Series ID: S000039873)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class J             | PLTAX         | C000123721 |
| R-3                 | PLTCX         | C000123724 |
| R-5                 | PLTOX         | C000123726 |
| Institutional Class | PLTZX         | C000123727 |

---

### Principal LifeTime Hybrid Income Fund (Series ID: S000046553)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHTFX         | C000145302 |
| R-6                 | PLTYX         | C000159884 |
| Class J             | PHJFX         | C000199315 |

---

### Principal LifeTime Hybrid 2055 Fund (Series ID: S000046554)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PLTNX         | C000145305 |
| R-6                 | PLHTX         | C000159885 |
| Class J             | PHJBX         | C000199316 |

---

### Principal LifeTime Hybrid 2060 Fund (Series ID: S000046555)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PLTHX         | C000145308 |
| R-6                 | PLKTX         | C000159886 |
| Class J             | PHJGX         | C000199317 |

---

### Principal LifeTime Hybrid 2015 Fund (Series ID: S000046556)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHTMX         | C000145311 |
| R-6                 | PLRRX         | C000159887 |
| Class J             | PHJMX         | C000199318 |

---

### Principal LifeTime Hybrid 2020 Fund (Series ID: S000046557)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHTTX         | C000145314 |
| R-6                 | PLTTX         | C000159888 |
| Class J             | PHJTX         | C000199319 |

---

### Principal LifeTime Hybrid 2025 Fund (Series ID: S000046558)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHTQX         | C000145317 |
| R-6                 | PLFTX         | C000159889 |
| Class J             | PHJQX         | C000199320 |

---

### Principal LifeTime Hybrid 2030 Fund (Series ID: S000046559)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHTNX         | C000145320 |
| R-6                 | PLZTX         | C000159890 |
| Class J             | PHJNX         | C000199321 |

---

### Principal LifeTime Hybrid 2035 Fund (Series ID: S000046560)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHTJX         | C000145323 |
| R-6                 | PLRTX         | C000159891 |
| Class J             | PHJJX         | C000199322 |

---

### Principal LifeTime Hybrid 2040 Fund (Series ID: S000046561)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PLTQX         | C000145326 |
| R-6                 | PLMTX         | C000159892 |
| Class J             | PHJEX         | C000199323 |

---

### Principal LifeTime Hybrid 2045 Fund (Series ID: S000046562)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHTYX         | C000145329 |
| R-6                 | PLNTX         | C000159893 |
| Class J             | PHJYX         | C000199324 |

---

### Principal LifeTime Hybrid 2050 Fund (Series ID: S000046563)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PHTUX         | C000145332 |
| R-6                 | PLJTX         | C000159894 |
| Class J             | PHJUX         | C000199325 |

---

### Finisterre Emerging Markets Total Return Bond Fund (Series ID: S000054330)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PFUMX         | C000170736 |

---

### Principal LifeTime 2065 (Series ID: S000058847)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PLJIX         | C000193001 |
| R-3                 | PLJCX         | C000193004 |
| R-5                 | PLJEX         | C000193006 |

---

### Principal LifeTime Hybrid 2065 (Series ID: S000058848)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PLHHX         | C000193007 |
| R-6                 | PLHRX         | C000193008 |
| Class J             | PHJDX         | C000199326 |

---

### Government Money Market Fund (Series ID: S000060089)

---

|  |  |  |
|:---|:---|:---|
| Class Name    | Ticker Symbol | Class ID   |
| Institutional | PGVXX         | C000196721 |
| Class R-6     | PGWXX         | C000239771 |

---

### Principal LifeTime Hybrid 2070 Fund (Series ID: S000079798)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class J             | PLKJX         | C000241172 |
| R-6                 | PLKRX         | C000241173 |
| Institutional Class | PLKSX         | C000241174 |

---

### Principal LifeTime 2070 Fund (Series ID: S000079799)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Institutional Class | PLTGX         | C000241176 |
| R-5                 | PLTFX         | C000241178 |
| R-3                 | PLTDX         | C000241179 |
| Class J             | PLTLX         | C000241180 |

---

## Series and Classes Contracts Data

### Core Plus Bond Fund fka Bond & Mortgage Securities Fund (Series ID: S000006952)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000018958 | R-3                 | PBMMX           |
| C000018959 | R-5                 | PBMPX           |
| C000018961 | Institutional Class | PMSIX           |
| C000018962 | J Class             | PBMJX           |
| C000018963 | A Class             | PRBDX           |

### Diversified International Fund (Series ID: S000006992)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019054 | R-3                 | PINRX           |
| C000019055 | R-5                 | PINPX           |
| C000019057 | Institutional Class | PIIIX           |
| C000019058 | Class J             | PIIJX           |
| C000019059 | Class A             | PRWLX           |
| C000210673 | Class R-6           | PDIFX           |

### Inflation Protection Fund (Series ID: S000006997)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019081 | R-3                 | PIFPX           |
| C000019082 | R-5                 | PBPPX           |
| C000019085 | Class J             | PIPJX           |
| C000019086 | Institutional Class | PIPIX           |

### Global Emerging Markets Fund (f/k/a International Emerging Markets Fund) (Series ID: S000007013)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019140 | R-3                 | PEAPX           |
| C000019142 | R-5                 | PEPSX           |
| C000019144 | Institutional Class | PIEIX           |
| C000019145 | Class J             | PIEJX           |
| C000019146 | Class A             | PRIAX           |
| C000175481 | R-6                 | PIIMX           |

### LargeCap S&P 500 Index Fund (Series ID: S000007016)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019169 | R-3                 | PLFMX           |
| C000019170 | R-5                 | PLFPX           |
| C000019172 | Institutional Class | PLFIX           |
| C000019173 | Class J             | PSPJX           |
| C000019174 | Class A             | PLSAX           |

### MidCap Fund (f/k/a MidCap Blend Fund) (Series ID: S000007075)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019312 | R-3                 | PMBMX           |
| C000019313 | R-5                 | PMBPX           |
| C000019315 | Institutional Class | PCBIX           |
| C000019316 | Class J             | PMBJX           |
| C000019317 | Class A             | PEMGX           |
| C000038781 | Class C             | PMBCX           |
| C000175482 | R-6                 | PMAQX           |

### LargeCap Growth Fund I (Series ID: S000007077)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019328 | R-3                 | PPUMX           |
| C000019329 | R-5                 | PPUPX           |
| C000019331 | Institutional Class | PLGIX           |
| C000019332 | Class J             | PLGJX           |
| C000019333 | Class A             | PLGAX           |
| C000149257 | R-6                 | PLCGX           |

### MidCap S&P 400 Index Fund (Series ID: S000007079)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019343 | Institutional Class | MPSIX           |
| C000019345 | R-3                 | PMFMX           |
| C000019346 | R-5                 | PMFPX           |
| C000019348 | Class J             | PMFJX           |
| C000175483 | R-6                 | PMAPX           |

### Money Market Fund (Series ID: S000007081)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000019362 | Class J      | PMJXX           |
| C000019363 | Class A      | PCSXX           |

### International Equity Fund (formerly, International Fund I) (Series ID: S000007083)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019372 | R-3                 | PRPPX           |
| C000019373 | R-5                 | PTPPX           |
| C000019376 | Institutional Class | PINIX           |
| C000175484 | R-6                 | PIIDX           |

### LargeCap Value Fund III (Series ID: S000007122)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019460 | R-3                 | PPSFX           |
| C000019461 | R-5                 | PPSRX           |
| C000019463 | Institutional Class | PLVIX           |
| C000019464 | Class J             | PLVJX           |

### SmallCap Value Fund II (Series ID: S000007169)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019585 | R-3                 | PJARX           |
| C000019586 | R-5                 | PLARX           |
| C000019589 | Institutional Class | PPVIX           |
| C000076717 | Class J             | PSMJX           |
| C000149259 | R-6                 | PSMVX           |

### MidCap Value Fund I (Series ID: S000007173)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019614 | R-3                 | PMPRX           |
| C000019615 | R-5                 | PABVX           |
| C000019618 | Institutional Class | PVMIX           |
| C000076718 | Class J             | PVEJX           |
| C000210674 | A                   | PCMVX           |
| C000210675 | Class R-6           | PCMSX           |

### SmallCap Growth Fund I (Series ID: S000007175)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019627 | R-3                 | PPNMX           |
| C000019628 | R-5                 | PPNPX           |
| C000019630 | Institutional Class | PGRTX           |
| C000019631 | Class J             | PSIJX           |
| C000149260 | R-6                 | PCSMX           |

### SmallCap S&P 600 Index Fund (Series ID: S000007203)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019716 | R-3                 | PSSMX           |
| C000019717 | R-5                 | PSSPX           |
| C000019719 | Institutional Class | PSSIX           |
| C000019720 | Class J             | PSSJX           |
| C000175485 | R-6                 | PSPIX           |

### Principal LifeTime 2020 Fund (Series ID: S000007207)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019742 | R-3                 | PTBMX           |
| C000019743 | R-5                 | PTBPX           |
| C000019745 | Institutional Class | PLWIX           |
| C000019746 | Class J             | PLFJX           |
| C000019747 | Class A             | PTBAX           |

### Principal LifeTime 2030 Fund (Series ID: S000007208)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019751 | R-3                 | PTCMX           |
| C000019752 | R-5                 | PTCPX           |
| C000019754 | Institutional Class | PMTIX           |
| C000019755 | Class J             | PLTJX           |
| C000019756 | Class A             | PTCAX           |

### Principal LifeTime 2040 Fund (Series ID: S000007209)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019760 | R-3                 | PTDMX           |
| C000019761 | R-5                 | PTDPX           |
| C000019763 | Institutional Class | PTDIX           |
| C000019764 | Class J             | PTDJX           |
| C000019765 | Class A             | PTDAX           |

### Principal LifeTime 2050 Fund (Series ID: S000007210)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019770 | R-3                 | PTERX           |
| C000019771 | R-5                 | PTEFX           |
| C000019773 | Institutional Class | PPLIX           |
| C000019774 | Class J             | PFLJX           |
| C000019775 | Class A             | PPEAX           |

### Principal LifeTime Strategic Income Fund (Series ID: S000007211)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019779 | R-3                 | PLSMX           |
| C000019780 | R-5                 | PLSPX           |
| C000019782 | Institutional Class | PLSIX           |
| C000019783 | Class J             | PLSJX           |
| C000019784 | Class A             | PALTX           |

### Real Estate Securities Fund (Series ID: S000007212)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019787 | R-3                 | PRERX           |
| C000019788 | R-5                 | PREPX           |
| C000019790 | Institutional Class | PIREX           |
| C000019791 | Class J             | PREJX           |
| C000019792 | Class A             | PRRAX           |
| C000038802 | Class C             | PRCEX           |
| C000175486 | R-6                 | PFRSX           |

### SmallCap Fund (fka SmallCap Blend Fund) (Series ID: S000007214)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000019804 | R-3                 | PSBMX           |
| C000019805 | R-5                 | PSBPX           |
| C000019807 | Institutional Class | PSLIX           |
| C000019808 | Class J             | PSBJX           |
| C000019809 | Class A             | PLLAX           |
| C000175487 | R-6                 | PSMLX           |

### California Municipal Fund (Series ID: S000014232)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000038715 | Class A       | SRCMX           |
| C000038717 | Class C       | SRCCX           |
| C000153061 | Institutional | PCMFX           |

### Strategic Asset Management Conservative Balanced Portfolio (Series ID: S000014233)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038718 | Class A             | SAIPX           |
| C000038720 | Class C             | SCIPX           |
| C000038721 | Institutional Class | PCCIX           |
| C000039337 | R-3                 | PCBPX           |
| C000039340 | R-5                 | PCBFX           |
| C000039341 | Class J             | PCBJX           |

### Strategic Asset Management Conservative Growth Portfolio (Series ID: S000014234)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038722 | Class A             | SAGPX           |
| C000038724 | Class C             | SCGPX           |
| C000038725 | Institutional Class | PCWIX           |
| C000039343 | R-5                 | PCWPX           |
| C000039344 | Class J             | PCGJX           |
| C000039346 | R-3                 | PCGPX           |

### Strategic Asset Management Flexible Income Portfolio (Series ID: S000014235)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038726 | Class A             | SAUPX           |
| C000038728 | Class C             | SCUPX           |
| C000038729 | Institutional Class | PIFIX           |
| C000039349 | R-3                 | PFIPX           |
| C000039352 | R-5                 | PFIFX           |
| C000039353 | Class J             | PFIJX           |

### Strategic Asset Management Strategic Growth Portfolio (Series ID: S000014236)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038730 | Class A             | SACAX           |
| C000038732 | Class C             | SWHCX           |
| C000038733 | Institutional Class | PSWIX           |
| C000039355 | R-3                 | PSGPX           |
| C000039358 | R-5                 | PSGFX           |
| C000039359 | Class J             | PSWJX           |

### Tax-Exempt Bond Fund formerly Tax-Exempt Bond Fund I (Series ID: S000014237)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038734 | Class A             | PTEAX           |
| C000038736 | Class C             | PTBCX           |
| C000158782 | Institutional Class | PITEX           |

### Principal Capital Appreciation Fund (fka West Coast Equity Fund) (Series ID: S000014238)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038737 | Class A             | CMNWX           |
| C000038740 | Institutional Class | PWCIX           |
| C000085760 | R-3                 | PCAOX           |
| C000085762 | R-5                 | PCAQX           |

### Equity Income Fund formerly Equity Income Fund I (Series ID: S000014240)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038744 | Class A             | PQIAX           |
| C000038746 | Class C             | PEUCX           |
| C000038747 | Institutional Class | PEIIX           |
| C000085765 | R-3                 | PEIOX           |
| C000085767 | R-5                 | PEIQX           |
| C000204702 | Class J             | PEIJX           |

### High Yield Fund (Series ID: S000014241)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038748 | Class A             | CPHYX           |
| C000038750 | Class C             | CCHIX           |
| C000038751 | Institutional Class | PHYTX           |
| C000175488 | R-6                 | PHYFX           |

### Core Fixed Income Fund (f/k/a Income Fund) (Series ID: S000014242)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038752 | Class A             | CMPIX           |
| C000038755 | Institutional Class | PIOIX           |
| C000080382 | Class J             | PIOJX           |
| C000085768 | R-5                 | PIOQX           |
| C000085771 | R-3                 | PIOOX           |
| C000149261 | R-6                 | PICNX           |

### Government & High Quality Bond Fund (f/k/a Mortgage Securities Fund) (Series ID: S000014244)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038760 | Class A             | CMPGX           |
| C000038763 | Institutional Class | PMRIX           |
| C000113842 | R-3                 | PRCMX           |
| C000113844 | R-5                 | PMREX           |
| C000113845 | Class J             | PMRJX           |

### Short-Term Income Fund (Series ID: S000014245)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038764 | Class A             | SRHQX           |
| C000038766 | Class C             | STCCX           |
| C000038767 | Institutional Class | PSHIX           |
| C000090493 | Class J             | PSJIX           |
| C000090496 | R-3                 | PSIOX           |
| C000090498 | R-5                 | PSIQX           |

### Strategic Asset Management Balanced Portfolio (Series ID: S000014246)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000038768 | Class A             | SABPX           |
| C000038770 | Class C             | SCBPX           |
| C000038771 | Institutional Class | PSBIX           |
| C000039361 | R-3                 | PBAPX           |
| C000039364 | R-5                 | PSBFX           |
| C000039365 | Class J             | PSAJX           |

### Global Real Estate Securities Fund (Series ID: S000019119)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000052887 | Class A             | POSAX           |
| C000052889 | Institutional Class | POSIX           |
| C000149262 | R-6                 | PGRSX           |
| C000167005 | R-3                 | PGRKX           |
| C000167007 | R-5                 | PGRUX           |

### Principal LifeTime 2015 Fund (Series ID: S000022103)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000063423 | Institutional Class | LTINX           |
| C000063424 | R-3                 | LTAPX           |
| C000063426 | R-5                 | LTPFX           |

### Principal LifeTime 2025 Fund (Series ID: S000022104)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000063429 | Institutional Class | LTSTX           |
| C000063431 | R-3                 | LTVPX           |
| C000063433 | R-5                 | LTPDX           |

### Principal LifeTime 2035 Fund (Series ID: S000022105)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000063435 | R-3                 | LTAOX           |
| C000063437 | R-5                 | LTPEX           |
| C000063439 | Institutional Class | LTIUX           |

### Principal LifeTime 2045 Fund (Series ID: S000022106)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000063441 | R-3                 | LTRVX           |
| C000063443 | R-5                 | LTRDX           |
| C000063445 | Institutional Class | LTRIX           |

### Principal LifeTime 2055 Fund (Series ID: S000022107)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000063447 | R-3                 | LTFDX           |
| C000063449 | R-5                 | LTFPX           |
| C000063451 | Institutional Class | LTFIX           |

### Overseas Fund (f/k/a International Value Fund I) (Series ID: S000023512)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000069149 | Institutional Class | PINZX           |
| C000111521 | R-3 Class           | PINTX           |

### Diversified Income Fund (f/k/a Global Diversified Income Fund) (Series ID: S000024296)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000071805 | Institutional Class | PGDIX           |
| C000071807 | Class A             | PGBAX           |
| C000071808 | Class C             | PGDCX           |
| C000190075 | R-6                 | PGBLX           |

### Principal LifeTime 2060 Fund (Series ID: S000039873)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000123721 | Class J             | PLTAX           |
| C000123724 | R-3                 | PLTCX           |
| C000123726 | R-5                 | PLTOX           |
| C000123727 | Institutional Class | PLTZX           |

### Principal LifeTime Hybrid Income Fund (Series ID: S000046553)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145302 | Institutional Class | PHTFX           |
| C000159884 | R-6                 | PLTYX           |
| C000199315 | Class J             | PHJFX           |

### Principal LifeTime Hybrid 2055 Fund (Series ID: S000046554)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145305 | Institutional Class | PLTNX           |
| C000159885 | R-6                 | PLHTX           |
| C000199316 | Class J             | PHJBX           |

### Principal LifeTime Hybrid 2060 Fund (Series ID: S000046555)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145308 | Institutional Class | PLTHX           |
| C000159886 | R-6                 | PLKTX           |
| C000199317 | Class J             | PHJGX           |

### Principal LifeTime Hybrid 2015 Fund (Series ID: S000046556)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145311 | Institutional Class | PHTMX           |
| C000159887 | R-6                 | PLRRX           |
| C000199318 | Class J             | PHJMX           |

### Principal LifeTime Hybrid 2020 Fund (Series ID: S000046557)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145314 | Institutional Class | PHTTX           |
| C000159888 | R-6                 | PLTTX           |
| C000199319 | Class J             | PHJTX           |

### Principal LifeTime Hybrid 2025 Fund (Series ID: S000046558)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145317 | Institutional Class | PHTQX           |
| C000159889 | R-6                 | PLFTX           |
| C000199320 | Class J             | PHJQX           |

### Principal LifeTime Hybrid 2030 Fund (Series ID: S000046559)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145320 | Institutional Class | PHTNX           |
| C000159890 | R-6                 | PLZTX           |
| C000199321 | Class J             | PHJNX           |

### Principal LifeTime Hybrid 2035 Fund (Series ID: S000046560)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145323 | Institutional Class | PHTJX           |
| C000159891 | R-6                 | PLRTX           |
| C000199322 | Class J             | PHJJX           |

### Principal LifeTime Hybrid 2040 Fund (Series ID: S000046561)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145326 | Institutional Class | PLTQX           |
| C000159892 | R-6                 | PLMTX           |
| C000199323 | Class J             | PHJEX           |

### Principal LifeTime Hybrid 2045 Fund (Series ID: S000046562)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145329 | Institutional Class | PHTYX           |
| C000159893 | R-6                 | PLNTX           |
| C000199324 | Class J             | PHJYX           |

### Principal LifeTime Hybrid 2050 Fund (Series ID: S000046563)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145332 | Institutional Class | PHTUX           |
| C000159894 | R-6                 | PLJTX           |
| C000199325 | Class J             | PHJUX           |

### Finisterre Emerging Markets Total Return Bond Fund (Series ID: S000054330)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000170736 | Institutional Class | PFUMX           |

### Principal LifeTime 2065 (Series ID: S000058847)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000193001 | Institutional Class | PLJIX           |
| C000193004 | R-3                 | PLJCX           |
| C000193006 | R-5                 | PLJEX           |

### Principal LifeTime Hybrid 2065 (Series ID: S000058848)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000193007 | Institutional Class | PLHHX           |
| C000193008 | R-6                 | PLHRX           |
| C000199326 | Class J             | PHJDX           |

### Government Money Market Fund (Series ID: S000060089)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000196721 | Institutional | PGVXX           |
| C000239771 | Class R-6     | PGWXX           |

### Principal LifeTime Hybrid 2070 Fund (Series ID: S000079798)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000241172 | Class J             | PLKJX           |
| C000241173 | R-6                 | PLKRX           |
| C000241174 | Institutional Class | PLKSX           |

### Principal LifeTime 2070 Fund (Series ID: S000079799)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000241176 | Institutional Class | PLTGX           |
| C000241178 | R-5                 | PLTFX           |
| C000241179 | R-3                 | PLTDX           |
| C000241180 | Class J             | PLTLX           |

**Principal Funds, Inc.**

**Supplement dated December 15, 2025**

**to the Prospectus and Statement of Additional Information** 

**both dated March 1, 2025**

**(as previously supplemented)**

This supplement updates information contained in the Prospectus and Statement of Additional Information. Please retain this supplement for future reference.

The changes described below are being made to the Prospectus.

**SUMMARY FOR DIVERSIFIED INCOME FUND**

*Delete* Principal Real Estate Investors, LLC *from the* **Sub-Advisors** *section.*

**MANAGEMENT OF THE FUNDS**

*Under* **The Sub-Advisors** *section, delete the reference to Diversified Income (CMBS strategy) from the from the* ***Fund(s)*** *section of* **Sub-Advisor: Principal Real Estate Investors, LLC**.

The changes described below are being made to the Statement of Additional Information.

**LEADERSHIP STRUCTURE AND BOARD**

*In the* **Committee** *table, delete the members of the 15(c), Audit, Nominating and Governance, and Operations Committees and replace with the following:*

---

| |
|:---|
| **Committee Members** |
| <u>15(c) Committee</u> |
| Padelford L. Lattimer, Chair<br>Katharin S. Dyer<br>Karen McMillan |
| <u>Audit Committee</u>  |
| Frances P. Grieb, Chair<br>Craig Damos<br>Victor L. Hymes<br>Sharmila C. Kassam |
| <u>Nominating and Governance Committee</u> |
| Victor L. Hymes, Chair<br>Craig Damos<br>Frances P. Grieb<br>Thomas A. Swank |
| <u>Operations Committee</u>  |
| Thomas A. Swank, Chair<br>Katharin S. Dyer<br>Padelford L. Lattimer |

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*Under* **Additional Information Regarding Board Members and Officers**, *in the* **PRINCIPAL FUNDS OFFICERS** *table, delete the row for Mandy L. Huebbe.*

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*Under the* **Board Member and Officer Compensation** *section, delete the first paragraph and replace with the following:*

The Principal Funds do not pay any remuneration to officers or to any Board Members listed above as Interested Board Members. The Board annually considers a proposal to reimburse PGI for certain expenses, including a portion of the compensation of the Chief Compliance Officer ("CCO"). If the proposal is adopted, these amounts are allocated across all Funds and the other PGI-sponsored registered investment companies for which the CCO serves as the Chief Compliance Officer.

**INVESTMENT ADVISORY AND OTHER SERVICES**

*Under the* **Sub-Advisors** *section, delete the row for* **Sub-Advisor: Principal Real Estate Investors, LLC ("Principal-REI")** *and replace with the following:*

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| | |
|:---|:---|
| **Sub-Advisor:** | **Principal Real Estate Investors, LLC** (doing business as Principal Real Estate) **("Principal-REI")** is an indirect subsidiary of Principal Financial Group, Inc. |
| **Fund(s):** | Global Real Estate Securities and Real Estate Securities |

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