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Trending ETFs

California Municipal Fund

mutual fund
PCMFX
Payout Change
Pending
Price as of:
$9.82 +0.0 +0.0%
primary theme
Municipal Bond
share class
Instl (PCMFX) A (SRCMX) C (SRCCX)
PCMFX (Mutual Fund)

California Municipal Fund

Payout Change
Pending
Price as of:
$9.82 +0.0 +0.0%
primary theme
Municipal Bond
share class
Instl (PCMFX) A (SRCMX) C (SRCCX)
PCMFX (Mutual Fund)

California Municipal Fund

Payout Change
Pending
Price as of:
$9.82 +0.0 +0.0%
primary theme
Municipal Bond
share class
Instl (PCMFX) A (SRCMX) C (SRCCX)

Name

As of 12/24/2024

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

California Municipal Fund

PCMFX | Fund

$9.82

$611 M

3.42%

$0.34

0.67%

Vitals

YTD Return

2.4%

1 yr return

2.5%

3 Yr Avg Return

-1.0%

5 Yr Avg Return

0.8%

Net Assets

$611 M

Holdings in Top 10

17.8%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.67%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 13.20%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/24/2024

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

California Municipal Fund

PCMFX | Fund

$9.82

$611 M

3.42%

$0.34

0.67%

PCMFX - Profile

Distributions

  • YTD Total Return 2.4%
  • 3 Yr Annualized Total Return -1.0%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.36%
DIVIDENDS
  • Dividend Yield 3.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    California Municipal Fund
  • Fund Family Name
    Principal Funds
  • Inception Date
    Mar 01, 2015
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • 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 California municipal obligations (securities issued by or on behalf of state or local governments and other public authorities) at the time of purchase. Generally, these municipal obligations pay interest that is exempt from state personal income tax and federal income tax. These obligations may include bonds that generate interest payments that are subject to the federal individual alternative minimum tax. The Fund’s investment in municipal obligations include industrial revenue bonds. The Fund invests up to 20% of its assets in below-investment-grade bonds (sometimes called “high yield bonds” or “junk bonds”), 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 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. 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.
Under normal circumstances, the Fund maintains an average portfolio duration that is within ±50% of the duration of the Bloomberg California Municipal Bond Index, which as of January 31, 2024 was 5.26 years. The Fund is not managed to a particular maturity.
Read More

PCMFX - Performance

Return Ranking - Trailing

Period PCMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -7.3% 37.5% 22.70%
1 Yr 2.5% -7.4% 37.6% 24.85%
3 Yr -1.0%* -11.8% 5.1% 58.81%
5 Yr 0.8%* -7.4% 1103.2% 38.33%
10 Yr N/A* -1.1% 248.8% 14.73%

* Annualized

Return Ranking - Calendar

Period PCMFX Return Category Return Low Category Return High Rank in Category (%)
2023 2.6% -1.4% 41.0% 58.18%
2022 -12.9% -39.7% 0.3% 69.22%
2021 -0.2% -5.6% 6.9% 36.77%
2020 2.7% -2.6% 310.0% 11.41%
2019 5.6% 0.0% 26.0% 8.78%

Total Return Ranking - Trailing

Period PCMFX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.4% -7.3% 37.5% 22.70%
1 Yr 2.5% -7.4% 37.6% 24.85%
3 Yr -1.0%* -11.8% 5.1% 58.81%
5 Yr 0.8%* -7.4% 1103.2% 38.33%
10 Yr N/A* -1.1% 248.8% 15.84%

* Annualized

Total Return Ranking - Calendar

Period PCMFX Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% -1.3% 41.0% 39.53%
2022 -10.2% -39.7% 1.1% 61.50%
2021 2.5% -4.8% 23761504.0% 26.80%
2020 5.0% -1.5% 17057.9% 15.83%
2019 7.5% 0.2% 3514.6% 22.82%

NAV & Total Return History

PCMFX - Holdings

Concentration Analysis

PCMFX Category Low Category High PCMFX % Rank
Net Assets 611 M 3.22 M 71.9 B 42.41%
Number of Holdings 213 4 13418 54.87%
Net Assets in Top 10 111 M -317 M 3.09 B 40.83%
Weighting of Top 10 17.77% 1.8% 100.3% 49.46%

Top 10 Holdings

  1. California Infrastructure Economic Development Bank 2.15%
  2. California Municipal Finance Authority 1.98%
  3. California Educational Facilities Authority 1.83%
  4. California Pollution Control Financing Authority 1.82%
  5. California Health Facilities Financing Authority 1.77%
  6. California Pollution Control Financing Authority 1.77%
  7. San Diego County Regional Airport Authority 1.76%
  8. California Municipal Finance Authority 1.71%
  9. Los Angeles Unified School District/CA 1.54%
  10. California Housing Finance Agency 1.44%

Asset Allocation

Weighting Return Low Return High PCMFX % Rank
Bonds 		98.63% 0.00% 150.86% 56.51%
Cash 		1.36% -50.86% 44.62% 45.33%
Stocks 		0.01% 0.00% 99.77% 13.49%
Preferred Stocks 		0.00% 0.00% 0.07% 36.06%
Other 		0.00% -3.69% 53.54% 44.19%
Convertible Bonds 		0.00% 0.00% 0.93% 35.74%

Stock Sector Breakdown

Weighting Return Low Return High PCMFX % 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 PCMFX % Rank
US 		0.01% 0.00% 99.77% 13.50%
Non US 		0.00% 0.00% 10.22% 35.66%

Bond Sector Breakdown

Weighting Return Low Return High PCMFX % Rank
Municipal 		100.00% 44.39% 100.00% 3.64%
Derivative 		0.00% -3.69% 53.54% 45.27%
Cash & Equivalents 		0.00% 0.00% 44.41% 73.54%
Securitized 		0.00% 0.00% 5.93% 40.59%
Corporate 		0.00% 0.00% 9.41% 49.43%
Government 		0.00% 0.00% 52.02% 44.30%

Bond Geographic Breakdown

Weighting Return Low Return High PCMFX % Rank
US 		98.63% 0.00% 142.23% 54.20%
Non US 		0.00% 0.00% 23.89% 40.36%

PCMFX - Expenses

Operational Fees

PCMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.67% 0.01% 8.02% 57.66%
Management Fee 0.40% 0.00% 1.20% 39.93%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

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

Trading Fees

PCMFX 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.

PCMFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 13.20% 0.00% 283.00% 35.80%

PCMFX - Distributions

Dividend Yield Analysis

PCMFX Category Low Category High PCMFX % Rank
Dividend Yield 3.42% 0.00% 14.51% 30.34%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PCMFX Category Low Category High PCMFX % Rank
Net Income Ratio 2.36% -0.53% 5.33% 26.99%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PCMFX - 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

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