Investment objective & strategy
As of Feb. 27, 2026 · 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 with small market capitalizations. For this Fund, companies with small market capitalizations are those with market capitalizations of one or both of the following: $3.5 billion or less, or within the range of companies composing the Russell 2000 Value Index (as of January 30, 2026, this range was between approximately $16.0 million and $32.4 billion). The Fund invests in value equity securities, an investment strategy that emphasizes buying equity securities that appear to be undervalued. The Fund is primarily actively managed by the sub-advisors. In addition, Principal Global Investors, LLC may invest up to 30% 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 with small market capitalizations. For this Fund, companies with small market capitalizations are those with market capitalizations of one or both of the following: $3.5 billion or less, or within the range of companies composing the Russell 2000 Value Index (as of January 30, 2026, this range was between approximately $16.0 million and $32.4 billion). The Fund invests in value equity securities, an investment strategy that emphasizes buying equity securities that appear to be undervalued. The Fund is primarily actively managed by the sub-advisors. In addition, Principal Global Investors, LLC may invest up to 30% of the Funds assets using an index sampling strategy designed to match the performance of the Russell 2000 Value Index.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Principal Government Money Market Fund - Class R-6 | — | $43.99M | 3.69% |
| iShares Trust RUSSELL 2000 VALUE ETF | IWN | $31.87M | 2.67% |
| CUSHMAN & WAKEFI | — | $17.39M | 1.46% |
| ELEMENT SOLUTIONS INC | — | $17.07M | 1.43% |
| ARTISAN PARTNERS ASSET MANAGEMENT INC A | — | $15.23M | 1.28% |
| VALVOLINE INC | — | $13.87M | 1.16% |
| SANMINA CORP | — | $13.80M | 1.16% |
| CLEAN HARBORS INC | — | $13.41M | 1.12% |
| GATX CORP | — | $13.37M | 1.12% |
| COCA COLA CONSOLIDATED INC | — | $12.99M | 1.09% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How 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. |
|---|---|---|
| Vaughan Nelson Small Cap Fund · NEFJX, NEJCX, NEJYX, NEJTX, VSCNX | 43% | 0.95% |
| Hotchkis and Wiley Small Cap Diversified Value Fund · HWVIX, HWVAX, HWVZX | 36% | 0.78% |
| Empower Small Cap Value Fund · MXLSX, MXTFX | 33% | 0.74% |
Advisers
| Firm | Role |
|---|---|
| Hotchkis and Wiley Capital Management, LLC | Sub-adviser |
| Saratoga Capital Management, LLC | Sub-adviser |
| Principal Global Investors, LLC | Adviser |
Footnotes
- Expense ratio as of February 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.