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1 As of 12/31/2024.

2 411 managers profiled by total worldwide institutional assets as of 31 December 2023 “Largest Money Manager,” PENSIONS & INVESTMENTS, June 2024.

3 As of 12/31/2023. See our most recent 10-K or 10-Q report for additional information and forward-looking disclosures. For other updates, visit www.principal.com.

Risk considerations

Investing involves risk, including possible loss of principal. Past Performance does not guarantee future results. All financial investments involve an element of risk. Therefore, the value of the investment and the income from it will vary and the initial investment amount cannot be guaranteed.  

Carefully consider a fund’s objectives, risks, charges, and expenses. Contact your financial professional, visit www.PrincipalAM.com, or call sales support at 800-787-1621 for a prospectus, or summary prospectus if available, containing this and other information. Please read it carefully before investing.

Asset allocation and diversification do not ensure a profit or protect against a loss.

Fixed income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal bond investment options nor their yields are guaranteed by the U.S. government. Lower-rated securities are subject to additional credit and default risk.

Equity investments involve greater risk, including heightened volatility, than fixed income investments. Small and mid-cap stocks may have additional risks, including greater price volatility.

International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards.

Investing in derivates entails specific risks relating to liquidity, leverage and credit, which may reduce returns and/or increase volatility.

Risks of preferred securities differ from risks inherent in other investments. In particular, in a bankruptcy preferred securities are senior to common stock but subordinate to other corporate debt.

Investing in ETFs involves risk, including possible loss of principal. ETFs are subject to risk similar to those of stocks, including those regarding short-selling and margin account maintenance. Investor shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Ordinary brokerage commissions apply.

Unlike typical ETFs, there are indices that the Principal Active High Yield ETF or Principal Spectrum Preferred Securities Active ETF attempt to track or replicate. Thus, the ability of the Funds to achieve their objectives will depend on the effectiveness of the portfolio managers.

Important information

This material covers general information only and does not take account of any investor’s investment objectives or financial situation and should not be construed as specific investment advice, a recommendation, or be relied on in any way as a guarantee, promise, forecast or prediction of future events regarding an investment or the markets in general. Information presented has been derived from sources believed to be accurate; however, we do not independently verify or guarantee its accuracy or validity. Any reference to a specific investment or security does not constitute a recommendation to buy, sell, or hold such investment or security, nor an indication that the investment manager or its affiliates has recommended a specific security for any client account. Subject to any contrary provisions of applicable law, the investment manager and its affiliates, and their officers, directors, employees, agents, disclaim any express or implied warranty of reliability or accuracy and any responsibility arising in any way (including by reason of negligence) for errors or omissions in the information or data provided.

This material may contain `forward‐looking’ information that is not purely historical in nature and may include, among other things, projections, and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader.

Principal Asset Management is the global investment management business for Principal Financial Group® and includes the asset management operations of the following: Principal Global Investors, LLC; Principal Real Estate Investors, LLC; Principal Real Estate Europe Limited and its affiliates; Spectrum Asset Management, Inc.; Post Advisory Group, LLC; Origin Asset Management, LLP; Claritas Investimentos; Principal Global Investors (Europe) Limited; Principal Global Investors (Ireland) Limited, Principal Global Investors (Singapore) Limited.; Principal Global Investors (Australia) Ltd.; Principal Global Investors (Japan) Ltd.; Principal Asset Management Company (Asia) Ltd., Principal Asset Management Berhad (Malaysia), Principal Islamic Asset Management SDN BHD, Principal Fondos de Inversion, S.A. DE C.V.(Mexico), Principal Mexico Servicos, S.A. DE C.V., Principal Adminstradora General de Fondos S.A. (Chile), and includes assets where we provide model portfolios.

Principal Funds are distributed by Principal Funds Distributor, Inc. ALPS Distributors, Inc. is the distributor of the Principal ETFs. ALPS Distributors, Inc. and the Principal Funds are not affiliated.

Principal Asset Management℠ is a trade name of Principal Global Investors, LLC.

© 2025 Principal Financial Services, Inc. Principal®, Principal Financial Group®, Principal Asset Management, and Principal and the logomark design are registered trademarks and service marks of Principal Financial Services, Inc., a Principal Financial Group company, in various countries around the world and may be used only with the permission of Principal Financial Services, Inc.

MM14144-03 | 02/2025 | 4255467-022027