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 that compose the Standard & Poors (S&P) SmallCap 600 Index (the Index). The Index is designed to represent U.S. equities with risk/return characteristics of the small cap universe. As of January 30, 2026, the market capitalization range of the companies comprising the Index was between approximately $194.0 million and $9.8 billion. Each component stock of the Index is weighted in proportion to its total market value. The Index is rebalanced quarterly. The Fund employs a passive investment approach designed to attempt to track the performance of the Index. In seeking its objective, the Fund typically employs … Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that compose the Standard & Poors (S&P) SmallCap 600 Index (the Index). The Index is designed to represent U.S. equities with risk/return characteristics of the small cap universe. As of January 30, 2026, the market capitalization range of the companies comprising the Index was between approximately $194.0 million and $9.8 billion. Each component stock of the Index is weighted in proportion to its total market value. The Index is rebalanced quarterly. The Fund employs a passive investment approach designed to attempt to track the performance of the Index. In seeking its objective, the Fund typically employs a replication strategy, which involves investing in all the securities that make up the Index, in the same proportions as the Index. The Fund will not concentrate (i.e., invest more than 25% of its assets) its investments in a particular industry except to the extent the Index is so concentrated. As of January 31, 2026, the Index was not concentrated in any industry. Note: Standard & Poors SmallCap 600 and S&P SmallCap 600 are trademarks of S&P Global and have been licensed by Principal. The Fund is not sponsored, endorsed, sold, or promoted by S&P Global, and S&P Global makes no representation regarding the advisability of investing in the Fund.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| Principal Government Money Market Fund - Class R-6 | — | $17.09M | 1.34% |
| SOLSTICE ADV MAT | — | $7.93M | 0.62% |
| ADV ENERGY INDS | — | $7.80M | 0.61% |
| ARROWHEAD PHARMACEUTICALS INC | — | $7.75M | 0.61% |
| MOOG INC-CLASS A | — | $7.02M | 0.55% |
| ISHARES CORE S+P SMALL CAP ETF ISHARES CORE S+P SMALL CAP E | IJR | $6.88M | 0.54% |
| LKQ CORP | — | $6.80M | 0.53% |
| INTERDIGITAL INC | — | $6.80M | 0.53% |
| CARETRUST REIT INC | — | $6.75M | 0.53% |
| LUMEN TECHNOLOGIES INC | — | $6.73M | 0.53% |
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. |
|---|---|---|
| BNY Mellon Smallcap Stock Index Fund · DISSX, DISIX | 96% | 0.25% |
| VANGUARD S&P SMALL-CAP 600 INDEX FUND · VIOO, VSMSX | 93% | 0.03% |
| S&P SmallCap Index Fund · SMCIX, SMLKX | 92% | 0.86% |
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. 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).
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