Investment objective & strategy
As of Oct. 26, 2023 · prospectusObjective. The Fund seeks long-term growth of capital.
Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies in the healthcare sector. For this Fund, healthcare companies are those classified as Health Care according to Global Industry Classification Standard. For security selection and portfolio construction, Principal Global Investors, LLC ("PGI") uses a proprietary quantitative model designed to identify equity securities (emphasizing growth stock) of small and medium capitalization in the Russell 3000 Healthcare Index, while seeking to exclude the least liquid securities, meaning the securities that would be the hardest to trade without significantly impacting their value based on recent average daily trading volumes. As of September 30, 2023, the market capitalization range of … Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies in the healthcare sector. For this Fund, healthcare companies are those classified as Health Care according to Global Industry Classification Standard. For security selection and portfolio construction, Principal Global Investors, LLC ("PGI") uses a proprietary quantitative model designed to identify equity securities (emphasizing growth stock) of small and medium capitalization in the Russell 3000 Healthcare Index, while seeking to exclude the least liquid securities, meaning the securities that would be the hardest to trade without significantly impacting their value based on recent average daily trading volumes. As of September 30, 2023, the market capitalization range of the companies in the Russell 3000 Healthcare Index was between approximately $451.3 million and $509.9 billion. The Fund invests significantly in early-stage companies within the healthcare equipment and supplies, pharmaceuticals, biotechnology, and life sciences industries that are not yet consistently profitable. Examples include companies developing products and services in such industries and companies in the pre-marketing stage seeking regulatory approvals. The Fund's holdings are expected to be rebalanced at least annually. However, PGI may make any adjustments to the model and Fund holdings at its discretion. In constructing and revising the model and managing the Fund's investments, PGI uses insights from diverse sources, including internal investment research, industry reports, and data from third-party consultants and other service providers, to develop and refine its investment themes and identify and take advantage of trends that may impact the Fund and its holdings. The Fund will concentrate its investments (invest more than 25% of its assets) in one or more industries within the healthcare sector. Note: "Russell 3000 Healthcare Index" is a trademark of FTSE Russell Company and has been licensed by Principal. The Fund is not sponsored, endorsed, sold, or promoted by FTSE Russell Company, and FTSE Russell Company makes no representation regarding the advisability of investing in the Fund.
Top holdings
As of June 30, 2024 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| ALNYLAM PHARMACEUTICALS INC | — | $854.63K | 5.20% |
| MODERNA INC | — | $588.41K | 3.58% |
| SAREPTA THERAPEUTICS INC | — | $524.56K | 3.19% |
| NATERA INC | — | $463.59K | 2.82% |
| ILLUMINA INC | — | $401.45K | 2.44% |
| CATALENT INC | — | $360.60K | 2.19% |
| INSMED INC | — | $357.98K | 2.18% |
| ROIVANT SCIENCES LTD | — | $303.23K | 1.84% |
| VAXCYTE INC | — | $289.66K | 1.76% |
| EXACT SCIENCES CORP | — | $271.75K | 1.65% |
Portfolio moves
Mar 31, 2024 → Jun 30, 2024How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Amplify Treatments, Testing and Advancements ETF | 14% | 0.68% |
| ETFMG Treatments Testing and Advancements ETF | 13% | 0.68% |
| HARTFORD SMALL CAP GROWTH HLS FUND | 13% | 0.64% |
Footnotes
- Expense ratio as of October 26, 2023, from the fund's prospectus.
- Net assets and holdings count as of June 30, 2024, from the fund's N-PORT filing.
- Total return for calendar year 2023, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2023 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.