International Emerging Markets Account
Data updated: 2026-08-25
C000020904 — International Emerging Markets Account. Emerging Markets Mid Cap Blend / Core Materials Equity. Holdings, fees, performance and SEC filings.
C000020904 Fund Overview
International Emerging Markets Account is a US mutual fund managed by Principal Variable Contracts Funds Inc, categorised as Emerging Markets Mid Cap Blend / Core Materials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Principal Variable Contracts Funds Inc
- Category: Emerging Markets Mid Cap Blend / Core Materials Equity
- Assets under management: $96.67M
- 1-year return: 44.0%
- SEC CIK: 0000012601
- SEC series ID: S000007656
- Share class ID: C000020904
C000020904 Investment Objective and Strategy
International Emerging Markets Account describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Principal Variable Contracts Funds Inc.
Investment objective
The Fund seeks long-term growth of capital.
Principal investment strategy
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of emerging market companies. The Fund considers emerging market to mean any country that is not in the MSCI World Index. Generally, emerging markets include all countries except the United States, Canada, Japan, Australia, Singapore, New Zealand, and most nations located in Western Europe. T he Fund also includes Mainland China and its administrative and other districts such as Hong Kong and Macau in its definition of emerging market. The Fund considers a security to be tied economically to an emerging market if one or more of the following criteria is present: (i) the issuer or guarantor of the security has its principal place of business or principal office in an emerging market; (ii) the principal trading market for the security is in an emerging market; (iii) the issuer or guarantor of the security derives a majority of its revenue from emerging markets; or (iv) the currency of settlement of the security is the currency of an emerging market.
The Fund invests in equity securities regardless of market capitalization (small, medium, or large) and style (growth or value). The Fund may invest in and have direct access to China A shares listed on the Shanghai Stock Stock Connect program (SSE) via the Shanghai-Hong Kong Stock Connect and Shenzhen Hong Kong Stock Connect Schemes . On or about July 1, 2026, subject to shareholder approval, add the following: 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.
C000020904 Holdings
Top 10 holdings of International Emerging Markets Account by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | 17.80% |
| Samsung Electronics Co Ltd | 11.06% |
| SK hynix Inc | 7.03% |
| Tencent Holdings Ltd | 3.29% |
| Delta Electronics Inc | 2.08% |
| Alibaba Group Holding Ltd | 2.00% |
| HDFC Bank Ltd | 1.96% |
| AIA Group Ltd | 1.95% |
| ICICI Bank Ltd | 1.91% |
| Banco BTG Pactual SA | 1.56% |
C000020904 Portfolio Allocation
Asset-class allocation of International Emerging Markets Account by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.0% |
| Cash & Equivalents | 1.6% |
C000020904 Performance
Total returns for C000020904 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 23.4% |
| 1 year | 44.0% |
| 3 years (annualised) | 23.4% |
| 5 years (annualised) | 7.4% |
C000020904 Risk Information
Risk metrics for C000020904, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 18.9%
C000020904 Costs and Fees
C000020904 costs about $112 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.12%
- Portfolio turnover: 51%
- Brokerage commissions: 12.40 bps of average net assets (SEC N-CEN)
C000020904 Cashflows
Over the 12 months to 2026-06, International Emerging Markets Account had net outflows of $7.08M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$1.27M |
| 2026-05 | −$204.63K |
| 2026-04 | −$992.36K |
| 2026-03 | −$1.93M |
| 2026-02 | $825.37K |
| 2026-01 | −$120.77K |
C000020904 Debt Constituents
No individual debt constituents are reported in International Emerging Markets Account's latest SEC N-PORT filing.
C000020904 Prospectus and SEC Filings
Official International Emerging Markets Account filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-27
- Prospectus (485BPOS) — filed 2025-04-25
- Prospectus (485BPOS) — filed 2024-04-25
- Portfolio holdings (N-PORT) — filed 2026-08-25
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-23
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Emerging Markets Mid Cap Blend / Core Materials Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.