Investment objective & strategy
As of April 25, 2025 · prospectusObjective. The Fund seeks to provide as high a level of current income as is consistent with prudent investment management and stability of principal.
Strategy. The Fund seeks to achieve its investment objective by investing in a broad range of high-quality, fixed-income securities. The Fund invests primarily in high-quality short-term bonds and other fixed-income securities that, at the time of purchase, are rated BBB- or higher by S&P Global Ratings (S&P Global) or Baa3 or higher by Moodys Investors Service, Inc. (Moodys). If the security has been rated by only one of the rating agencies, that rating will determine the securitys rating; if the security is rated differently by the rating agencies, the highest rating will be used; and if the security has not been rated by either of the rating agencies, those selecting such investments will determine the securitys quality. The Funds investments also … The Fund seeks to achieve its investment objective by investing in a broad range of high-quality, fixed-income securities. The Fund invests primarily in high-quality short-term bonds and other fixed-income securities that, at the time of purchase, are rated BBB- or higher by S&P Global Ratings (S&P Global) or Baa3 or higher by Moodys Investors Service, Inc. (Moodys). If the security has been rated by only one of the rating agencies, that rating will determine the securitys rating; if the security is rated differently by the rating agencies, the highest rating will be used; and if the security has not been rated by either of the rating agencies, those selecting such investments will determine the securitys quality. The Funds investments also include corporate securities, government securities, mortgage-backed and asset-backed securities (securitized products), and foreign securities. Under normal circumstances, the Fund maintains an effective maturity of five years or less and an average portfolio duration that is within 30% of the duration of the Bloomberg Credit 1-3 Year Index, which as of March 31, 2025 was 1.86 years. The Fund invests in derivatives, including Treasury futures and credit index futures, for hedging purposes and to manage fixed-income exposure. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $6.15M | 4.70% |
| US TREASURY N/B | — | $5.61M | 4.28% |
| Principal Government Money Market Fund - Class R-6 | — | $3.16M | 2.41% |
| US TREASURY N/B | — | $2.85M | 2.17% |
| US TREASURY N/B | — | $1.50M | 1.15% |
| BlackRock Liquidity FedFund - Institutional Class | TFDXX | $924.66K | 0.71% |
| Vistra Operations Company LLC | VST | $792.68K | 0.60% |
| LIFE MORTGAGE TRUST US | LIFE | $772.00K | 0.59% |
| TRFIG 2024-1A A2 | — | $749.39K | 0.57% |
| Kubota Credit Owner Trust 2026-1 | — | $746.64K | 0.57% |
Portfolio moves
Dec 31, 2025 → Mar 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. |
|---|---|---|
| Short-Term Income Fund · SRHQX, STCCX, PSHIX, PSJIX, PSIOX, PSIQX | 74% | 0.39% |
| SHORT-TERM INVESTMENT-GRADE PORTFOLIO | 11% | 0.14% |
| Mercer Short Duration Fixed Income Fund · MSDYX, MSDZX, MSDBX, MSDWX | 10% | 0.20% |
Advisers
| Firm | Role |
|---|---|
| Principal Global Investors, LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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