Principal Income Institutional Fund ( PIOIX ) seeks to provide a high level of current income. PIOIX primarily invests most of its assets in debt and convertible debt securities, U.S. Government securities, commercial mortgage-backed securities, preferred stocks and convertible preferred stocks. PIOIX may also invest in securities denominated in foreign currencies and receive interest, dividends and sale proceeds in foreign currencies. PIOIX may invest up to 35% of its assets in lower-rated fixed-income securities called 'junk bonds.''
This Inv Grade Bond - Inter product has a history of positive total returns for over 10 years. Specifically, the fund's returns over the 3, 5 year benchmarks; 3 year 3.1% and 5 year 3.8%. To see how this fund performed compared in its category, and other #1 and #2 Ranked Mutual Funds, please click here .
PIOIX's performance, as of the last filing, when compared to funds in its category was in the top 19% over the past 1 year, and in the top 22% over the past 3 years and in the top 16% over the past 5 years.
This Zacks Rank #1 (Strong Buy) was December 1975 and is managed by Principal Fin . PIOIX carries an expense ratio of 0.49% and requires a minimal initial investment of $0.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
