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 large market capitalizations that, in the opinion of Principal Global Investors, LLC (PGI), the Funds investment advisor, display characteristics of a blue chip company. For this Fund, companies with large market capitalizations are those with market capitalizations similar to companies in the S&P 500 Index (as of March 31, 2025, this was between approximately $5.3 billion and $3.3 trillion). In PGIs view, blue chip companies typically display some or all of the following characteristics: (1) large, well-established, and financially sound companies; and (2) considered market leaders or among the top three companies in their sector. … Show more… 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 large market capitalizations that, in the opinion of Principal Global Investors, LLC (PGI), the Funds investment advisor, display characteristics of a blue chip company. For this Fund, companies with large market capitalizations are those with market capitalizations similar to companies in the S&P 500 Index (as of March 31, 2025, this was between approximately $5.3 billion and $3.3 trillion). In PGIs view, blue chip companies typically display some or all of the following characteristics: (1) large, well-established, and financially sound companies; and (2) considered market leaders or among the top three companies in their sector. The Fund tends to focus on securities of companies that show potential for growth of capital as well as an expectation for above-average earnings. In selecting securities in which to invest, PGI uses a bottom-up, fundamental process, focusing on a fundamental analysis of individual companies. The Fund also invests in securities of foreign companies. On or about July 22, 2025, add the following paragraph: 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. Show less