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Real Estate Securities Fund
mutual fund
PIREX
Payout Change
Pending
Price as of:
$28.8
+0.22
+0.77%
primary theme
Real Estate Sector Equity
share class
PIREX (Mutual Fund)
Real Estate Securities Fund
Payout Change
Pending
Price as of:
$28.8
+0.22
+0.77%
primary theme
Real Estate Sector Equity
share class
PIREX (Mutual Fund)
Real Estate Securities Fund
Payout Change
Pending
Price as of:
$28.8
+0.22
+0.77%
primary theme
Real Estate Sector Equity
share class
Name
As of 12/24/2024Price
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
Vitals
YTD Return
5.6%
1 yr return
5.6%
3 Yr Avg Return
-2.6%
5 Yr Avg Return
4.2%
Net Assets
$5.89 B
Holdings in Top 10
57.0%
52 WEEK LOW AND HIGH
$28.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.92%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 31.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
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
PIREX - Profile
Distributions
- YTD Total Return 5.6%
- 3 Yr Annualized Total Return -2.6%
- 5 Yr Annualized Total Return 4.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.06%
- Dividend Yield 3.3%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameReal Estate Securities Fund
-
Fund Family NamePrincipal Funds
-
Inception DateOct 31, 2003
-
Shares OutstandingN/A
-
Share ClassInstl
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKelly Rush
Fund Description
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies principally engaged in the real estate industry at the time of purchase. A real estate company has at least 50% of its assets, income, or profits derived from products or services related to the real estate industry. Real estate companies include real estate investment trusts (“REITs”) and companies with substantial real estate holdings such as paper, lumber, hotel, and entertainment companies, as well as those whose products and services relate to the real estate industry, including building supply manufacturers, mortgage lenders, and mortgage servicing companies.
REITs are pooled investment vehicles that invest in income-producing real estate, real estate-related loans, or other types of real estate interests. REITs are corporations or business trusts that are permitted to eliminate corporate level federal income taxes by meeting certain requirements of the Internal Revenue Code.
The Fund invests in equity securities regardless of market capitalization (small, medium, or large). The Fund invests in growth and value equity securities. The Fund concentrates its investments (invest more than 25% of its net assets) in securities in the real estate industry.
The Fund is considered non-diversified, which means it can invest a higher percentage of assets in securities of individual issuers than a diversified fund. As a result, changes in the value of a single investment could cause greater fluctuations in the Fund’s share price than would occur in a more diversified fund.
PIREX - Performance
Return Ranking - Trailing
| Period | PIREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.6% | -12.5% | 17.2% | 38.66% |
| 1 Yr | 5.6% | -12.5% | 17.8% | 37.39% |
| 3 Yr | -2.6%* | -13.7% | 4.8% | 34.75% |
| 5 Yr | 4.2%* | -12.6% | 12.7% | 25.23% |
| 10 Yr | 6.1%* | -2.5% | 13.4% | 13.13% |
* Annualized
Return Ranking - Calendar
| Period | PIREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.1% | -16.2% | 24.6% | 19.83% |
| 2022 | -27.7% | -51.3% | 2.5% | 19.92% |
| 2021 | 33.6% | -7.7% | 52.3% | 40.43% |
| 2020 | -6.0% | -42.2% | 35.0% | 27.03% |
| 2019 | 27.1% | 0.0% | 43.1% | 5.12% |
Total Return Ranking - Trailing
| Period | PIREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 5.6% | -12.5% | 17.2% | 38.66% |
| 1 Yr | 5.6% | -12.5% | 17.8% | 37.39% |
| 3 Yr | -2.6%* | -13.7% | 4.8% | 34.75% |
| 5 Yr | 4.2%* | -12.6% | 12.7% | 25.23% |
| 10 Yr | 6.1%* | -2.5% | 13.4% | 13.13% |
* Annualized
Total Return Ranking - Calendar
| Period | PIREX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.3% | -13.7% | 25.0% | 20.68% |
| 2022 | -25.2% | -40.7% | 7.8% | 36.44% |
| 2021 | 39.6% | 7.8% | 54.6% | 60.85% |
| 2020 | -3.2% | -36.6% | 44.3% | 31.98% |
| 2019 | 31.1% | 4.1% | 46.4% | 16.74% |
NAV & Total Return History
PIREX - Holdings
Concentration Analysis
| PIREX | Category Low | Category High | PIREX % Rank | |
|---|---|---|---|---|
| Net Assets | 5.89 B | 2.26 M | 70.8 B | 8.66% |
| Number of Holdings | 40 | 22 | 548 | 53.36% |
| Net Assets in Top 10 | 3.77 B | 1.29 M | 32.8 B | 10.08% |
| Weighting of Top 10 | 56.99% | 13.2% | 82.2% | 33.61% |
Top 10 Holdings
- American Tower Corp 9.30%
- Equinix Inc 7.69%
- Welltower Inc 7.66%
- Ventas Inc 6.27%
- Prologis Inc 5.41%
- AvalonBay Communities Inc 5.08%
- Extra Space Storage Inc 4.93%
- SBA Communications Corp 3.66%
- VICI Properties Inc 3.55%
- Digital Realty Trust Inc 3.45%
Asset Allocation
| Weighting | Return Low | Return High | PIREX % Rank | |
|---|---|---|---|---|
| Stocks | 97.80% | 0.00% | 100.25% | 67.65% |
| Cash | 2.20% | -42.50% | 24.34% | 26.05% |
| Preferred Stocks | 0.00% | 0.00% | 31.13% | 97.48% |
| Other | 0.00% | -82.45% | 106.21% | 90.34% |
| Convertible Bonds | 0.00% | 0.00% | 10.95% | 97.47% |
| Bonds | 0.00% | 0.00% | 149.68% | 97.48% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PIREX % Rank | |
|---|---|---|---|---|
| Real Estate | 96.42% | 34.46% | 100.00% | 88.94% |
| Consumer Cyclical | 3.58% | 0.00% | 45.29% | 8.41% |
| Utilities | 0.00% | 0.00% | 3.55% | 97.35% |
| Technology | 0.00% | 0.00% | 12.02% | 97.79% |
| Industrials | 0.00% | 0.00% | 7.39% | 97.35% |
| Healthcare | 0.00% | 0.00% | 0.53% | 97.35% |
| Financial Services | 0.00% | 0.00% | 37.05% | 97.35% |
| Energy | 0.00% | 0.00% | 33.11% | 97.35% |
| Communication Services | 0.00% | 0.00% | 11.61% | 97.35% |
| Consumer Defense | 0.00% | 0.00% | 0.93% | 97.35% |
| Basic Materials | 0.00% | 0.00% | 13.69% | 97.79% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PIREX % Rank | |
|---|---|---|---|---|
| US | 97.80% | 0.00% | 100.25% | 64.71% |
| Non US | 0.00% | 0.00% | 36.61% | 97.48% |
PIREX - Expenses
Operational Fees
| PIREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.92% | 0.07% | 8.91% | 69.79% |
| Management Fee | 0.80% | 0.00% | 1.50% | 66.81% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
| PIREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| PIREX 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.
| PIREX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 31.00% | 0.11% | 380.00% | 37.39% |
PIREX - Distributions
Dividend Yield Analysis
| PIREX | Category Low | Category High | PIREX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.30% | 0.00% | 13.03% | 50.42% |
Dividend Distribution Analysis
| PIREX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Monthly | Quarterly |
Net Income Ratio Analysis
| PIREX | Category Low | Category High | PIREX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.06% | -1.14% | 6.05% | 48.09% |
Capital Gain Distribution Analysis
| PIREX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 19, 2024 | $0.235 | OrdinaryDividend |
| Mar 19, 2024 | $0.156 | OrdinaryDividend |
| Dec 27, 2023 | $0.167 | OrdinaryDividend |
| Sep 20, 2023 | $0.275 | OrdinaryDividend |
| Jun 20, 2023 | $0.161 | OrdinaryDividend |
| Mar 17, 2023 | $0.140 | OrdinaryDividend |
| Dec 28, 2022 | $0.402 | OrdinaryDividend |
| Sep 20, 2022 | $0.304 | OrdinaryDividend |
| Jun 17, 2022 | $0.095 | OrdinaryDividend |
| Mar 17, 2022 | $0.096 | OrdinaryDividend |
| Dec 29, 2021 | $0.229 | OrdinaryDividend |
| Dec 20, 2021 | $0.394 | CapitalGainShortTerm |
| Dec 20, 2021 | $0.438 | CapitalGainLongTerm |
| Sep 20, 2021 | $0.205 | OrdinaryDividend |
| Jun 17, 2021 | $0.099 | OrdinaryDividend |
| Mar 17, 2021 | $0.094 | OrdinaryDividend |
| Dec 29, 2020 | $0.228 | OrdinaryDividend |
| Dec 18, 2020 | $0.089 | CapitalGainLongTerm |
| Sep 18, 2020 | $0.154 | OrdinaryDividend |
| Jun 17, 2020 | $0.103 | OrdinaryDividend |
| Mar 18, 2020 | $0.123 | OrdinaryDividend |
| Dec 27, 2019 | $0.135 | OrdinaryDividend |
| Dec 19, 2019 | $0.246 | CapitalGainLongTerm |
| Sep 18, 2019 | $0.092 | OrdinaryDividend |
| Sep 18, 2019 | $0.114 | CapitalGainLongTerm |
| Jun 19, 2019 | $0.140 | OrdinaryDividend |
| Mar 19, 2019 | $0.113 | OrdinaryDividend |
| Dec 27, 2018 | $0.103 | OrdinaryDividend |
| Dec 19, 2018 | $0.075 | CapitalGainShortTerm |
| Dec 19, 2018 | $0.352 | CapitalGainLongTerm |
| Sep 18, 2018 | $0.172 | OrdinaryDividend |
| Jun 19, 2018 | $0.106 | OrdinaryDividend |
| Mar 19, 2018 | $0.103 | OrdinaryDividend |
| Dec 27, 2017 | $0.111 | OrdinaryDividend |
| Dec 20, 2017 | $0.004 | CapitalGainShortTerm |
| Dec 20, 2017 | $0.504 | CapitalGainLongTerm |
| Sep 18, 2017 | $0.083 | OrdinaryDividend |
| Jun 20, 2017 | $0.085 | OrdinaryDividend |
| Mar 21, 2017 | $0.082 | OrdinaryDividend |
| Dec 28, 2016 | $0.083 | OrdinaryDividend |
| Dec 20, 2016 | $0.596 | CapitalGainLongTerm |
| Sep 30, 2016 | $0.090 | OrdinaryDividend |
| Jun 30, 2016 | $0.117 | OrdinaryDividend |
| Mar 31, 2016 | $0.120 | OrdinaryDividend |
| Dec 28, 2015 | $0.086 | OrdinaryDividend |
| Dec 17, 2015 | $0.080 | CapitalGainShortTerm |
| Dec 17, 2015 | $1.138 | CapitalGainLongTerm |
| Sep 30, 2015 | $0.087 | OrdinaryDividend |
| Jun 30, 2015 | $0.081 | OrdinaryDividend |
| Mar 31, 2015 | $0.079 | OrdinaryDividend |
| Dec 29, 2014 | $0.090 | OrdinaryDividend |
| Dec 17, 2014 | $0.216 | CapitalGainLongTerm |
| Sep 30, 2014 | $0.075 | OrdinaryDividend |
| Jun 30, 2014 | $0.074 | OrdinaryDividend |
| Mar 31, 2014 | $0.075 | OrdinaryDividend |
| Dec 27, 2013 | $0.146 | OrdinaryDividend |
| Dec 18, 2013 | $0.004 | CapitalGainShortTerm |
| Dec 18, 2013 | $2.905 | CapitalGainLongTerm |
| Sep 30, 2013 | $0.077 | OrdinaryDividend |
| Jun 28, 2013 | $0.079 | OrdinaryDividend |
| Mar 28, 2013 | $0.079 | OrdinaryDividend |
| Dec 27, 2012 | $0.071 | OrdinaryDividend |
| Sep 28, 2012 | $0.060 | OrdinaryDividend |
| Jun 29, 2012 | $0.062 | OrdinaryDividend |
| Mar 30, 2012 | $0.062 | OrdinaryDividend |
| Dec 27, 2011 | $0.039 | OrdinaryDividend |
| Sep 30, 2011 | $0.043 | OrdinaryDividend |
| Jun 30, 2011 | $0.043 | OrdinaryDividend |
| Mar 31, 2011 | $0.030 | OrdinaryDividend |
| Dec 31, 2010 | $0.103 | OrdinaryDividend |
| Sep 30, 2010 | $0.061 | OrdinaryDividend |
| Jun 30, 2010 | $0.070 | OrdinaryDividend |
| Mar 31, 2010 | $0.097 | OrdinaryDividend |
| Dec 31, 2009 | $0.083 | OrdinaryDividend |
| Sep 30, 2009 | $0.052 | OrdinaryDividend |
| Jun 30, 2009 | $0.062 | OrdinaryDividend |
| Mar 31, 2009 | $0.106 | OrdinaryDividend |
| Dec 31, 2008 | $0.105 | OrdinaryDividend |
| Sep 30, 2008 | $0.086 | OrdinaryDividend |
| Jun 30, 2008 | $0.088 | OrdinaryDividend |
| Mar 31, 2008 | $0.100 | OrdinaryDividend |
| Dec 31, 2007 | $0.090 | OrdinaryDividend |
| Dec 06, 2007 | $0.335 | CapitalGainShortTerm |
| Dec 06, 2007 | $5.394 | CapitalGainLongTerm |
| Sep 28, 2007 | $0.042 | OrdinaryDividend |
| Jun 29, 2007 | $0.036 | OrdinaryDividend |
| Mar 30, 2007 | $0.042 | OrdinaryDividend |
| Dec 29, 2006 | $0.122 | OrdinaryDividend |
| Dec 06, 2006 | $2.013 | CapitalGainLongTerm |
| Sep 29, 2006 | $0.080 | OrdinaryDividend |
| Jun 30, 2006 | $0.063 | OrdinaryDividend |
| Dec 06, 2005 | $0.072 | CapitalGainShortTerm |
| Dec 06, 2005 | $0.537 | CapitalGainLongTerm |
| Sep 30, 2005 | $0.102 | OrdinaryDividend |
| Jun 29, 2005 | $0.102 | OrdinaryDividend |
| Mar 31, 2005 | $0.089 | OrdinaryDividend |
| Dec 23, 2004 | $0.289 | OrdinaryDividend |
| Dec 06, 2004 | $0.264 | CapitalGainShortTerm |
| Dec 06, 2004 | $0.785 | CapitalGainLongTerm |
| Dec 23, 2003 | $0.399 | OrdinaryDividend |
| Dec 04, 2003 | $0.046 | CapitalGainShortTerm |
| Dec 04, 2003 | $0.099 | CapitalGainLongTerm |
PIREX - Fund Manager Analysis
Managers
Kelly Rush
Start Date
Tenure
Tenure Rank
Dec 06, 2000
21.5
21.5%
As head of global property securities, Kelly directs the domestic and global real estate investment trust (REIT) activity for Principal Real Estate Investors, the dedicated real estate group of Principal Global Investors. He has experience in both separate account and pooled fund management, and has been managing real estate stock portfolios since 1997. Previously, Kelly participated in structuring commercial mortgage loans for public real estate companies and the analysis of real estate investment trust issued bonds. He has been with the real estate investment area of the firm since 1987. Kelly received an MBA in business administration and a bachelor's degree in finance from the University of Iowa. He has earned the right to use the Chartered Financial Analyst designation. Kelly is a member of the Iowa Society of Financial Analysts and the CFA Institute. Kelly is an active supporter of the Toigo Foundation and is currently serving as a mentor to a 2007 Toigo Fellow. Kelly’s prior speaking engagements include the Institutional Investor Endowments & Foundations Roundtable, the NAREIT Institutional Investor Forum, the National Conference of Public Employee Retirement Systems (NCPERS), and the International Council of Shopping Centers (ICSC) Law Conference.
Anthony Kenkel
Start Date
Tenure
Tenure Rank
Jun 15, 2012
9.96
10.0%
Anthony is a managing director of real estate securities portfolio management for Principal Real Estate Investors, the dedicated real estate unit of Principal Global Investors. Currently based in Singapore, he is responsible for the firm’s Asia Pacific real estate capability in REITs and listed real estate securities, and has prior experience managing the firm’s Americas real estate capabilities. He also remains active in managing U.S. securities as one of the teams listed U.S. portfolio managers. Anthony joined Principal in 1997. In 2000, he became a real estate consultant for Arthur Andersen before joining GATX Corporation as a senior financial analyst in 2002. Anthony rejoined Principal in 2005 in his current position. He received a bachelor's degree in finance from Drake University and an MBA from the University of Chicago Graduate School of Business. Anthony has earned the right to use the Chartered Financial Analyst and Financial Risk Manager designations.
Keith Bokota
Start Date
Tenure
Tenure Rank
Nov 22, 2013
8.53
8.5%
Keith is an associate director of real estate securities portfolio management for Principal Real Estate Investors Real Estate, the dedicated real estate group of Principal Global Investors. He is responsible for analyzing real estate investment trusts and is a member of the real estate securities portfolio management team. Keith joined the firm in 2007 as an analyst and moved to his current position in 2013. Before joining Principal Real Estate Investors, Keith worked as an analyst for Jones Lang LaSalle. Keith received his bachelor’s degree in finance and international business from Georgetown University and has earned the right to use the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 28.42 | 8.32 | 2.68 |
