Fund Description

The fund is a fund of funds that invests primarily in mutual funds and ETFs of Principal Funds, Inc. and Principal Exchange-Traded Funds. It classifies underlying holdings as fixed-income, equity, or specialty funds and allocates among them within predetermined ranges based on its outlook for the economy, financial markets, and relative valuations. It generally invests 40%-80% in fixed-income funds, 20%-60% in equity funds, and under 20% in specialty funds, with limits per underlying fund, seeking diversification to moderate volatility and cushion losses in any one sector.