Investment objective & strategy
As of March 16, 2026 · prospectusObjective. The Fund seeks long-term growth of capital.
Strategy. 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. 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.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| TSMC | — | $888.98M | 13.26% |
| SAMSUNG ELECTRONICS CO LTD | — | $363.91M | 5.43% |
| TENCENT HOLDINGS LTD | — | $338.05M | 5.04% |
| SK HYNIX INC | — | $234.25M | 3.49% |
| BABA-W | — | $214.49M | 3.20% |
| AIA Group Ltd | — | $163.90M | 2.44% |
| HDFC BANK LTD | — | $149.24M | 2.23% |
| ICICI BANK LTD | — | $144.71M | 2.16% |
| Principal Government Money Market Fund - Class R-6 | — | $133.28M | 1.99% |
| RELIANCE INDUSTRIES LTD(DEMAT)DEMATERIALIZED SHS | — | $129.98M | 1.94% |
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. |
|---|---|---|
| Global Emerging Markets Account | 85% | 1.14% |
| Calvert Emerging Markets Equity Fund · CVMAX, CVMCX, CVMIX, CVMRX | 47% | 0.92% |
| Hartford Schroders Emerging Markets Equity Fund · SEMVX, HHHCX, SEMNX, HHHRX, HHHSX, HHHTX, HHHYX, SEMTX, HHHFX | 46% | 0.97% |
Advisers
| Firm | Role |
|---|---|
| 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. As reported in the fund's prospectus performance bar chart.
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