Short-Term Income Account
Data updated: 2026-08-25
C000038541 — Short-Term Income Account. Intermediate Corporate Bond · $140.00M AUM · 0.42% expense ratio. Holdings, fees, performance and SEC filings.
C000038541 Fund Overview
Short-Term Income Account is a US mutual fund managed by Principal Variable Contracts Funds Inc, categorised as Intermediate Corporate Bond. 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: Intermediate Corporate Bond
- Assets under management: $140.00M
- 1-year return: 3.5%
- SEC CIK: 0000012601
- SEC series ID: S000014089
- Share class ID: C000038541
C000038541 Investment Objective and Strategy
Short-Term Income 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 to provide as high a level of current income as is consistent with prudent investment management and stability of principal.
Principal investment strategy
The Fund seeks to achieve its investment objective by investing in a broad range of high-quality, fixed-income securities. The Fund invests primarily in high-quality short-term bonds and other fixed-income securities that, at the time of purchase, are rated BBB- or higher by S&P Global Ratings (S&P Global) or Baa3 or higher by Moodys Investors Service, Inc. (Moodys). If the security has been rated by only one of the rating agencies, that rating will determine the securitys rating; if the security is rated differently by the rating agencies, the highest rating will be used; and if the security has not been rated by either of the rating agencies, those selecting such investments will determine the securitys quality. The Funds investments also include corporate securities, government securities, mortgage-backed and asset-backed securities (securitized products), and foreign securities.
Under normal circumstances, the Fund maintains an effective maturity of five years or less and an average portfolio duration that is within 30% of the duration of the Bloomberg Credit 1-3 Year Index, which as of March 31, 2026 was 1.84 years. The Fund invests in derivatives, including Treasury futures and credit index futures, for hedging purposes and to manage fixed-income exposure. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index.
C000038541 Holdings
Top 10 holdings of Short-Term Income Account by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| United States Treasury Note/Bond | 3.43% |
| United States Treasury Note/Bond | 2.99% |
| United States Treasury Note/Bond | 2.70% |
| United States Treasury Note/Bond | 2.05% |
| Principal Funds, Inc - Government Money Market Fund - Class R-6 | 1.17% |
| BlackRock Liquidity FedFund - Institutional Class | 1.11% |
| Vistra Operations Co LLC | 0.57% |
| Life 2022-BMR Mortgage Trust | 0.54% |
| Trafigura Securitisation Finance PLC | 0.54% |
| Kubota Credit Owner Trust 2026-1 | 0.53% |
C000038541 Portfolio Allocation
Asset-class allocation of Short-Term Income Account by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 63.2% |
| Securitized | 34.7% |
| Cash & Equivalents | 2.3% |
C000038541 Performance
Total returns for C000038541 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.2% |
| 1 year | 3.5% |
| 3 years (annualised) | 5.1% |
| 5 years (annualised) | 2.6% |
C000038541 Risk Information
Risk metrics for C000038541, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.7%
C000038541 Costs and Fees
C000038541 costs about $42 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.42%
- Gross expense ratio: 0.42%
- Portfolio turnover: 49%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000038541 Cashflows
Over the 12 months to 2026-06, Short-Term Income Account had net inflows of $10.70M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$2.44M |
| 2026-05 | $5.04M |
| 2026-04 | $5.38M |
| 2026-03 | −$916.58K |
| 2026-02 | −$1.47M |
| 2026-01 | −$173.65K |
C000038541 Debt Constituents
Largest debt holdings of Short-Term Income Account by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Treasury Note/Bond | 3.43% |
| United States Treasury Note/Bond | 2.99% |
| United States Treasury Note/Bond | 2.70% |
| United States Treasury Note/Bond | 2.05% |
| Vistra Operations Co LLC | 0.57% |
| UBS Group AG | 0.53% |
| Aon North America Inc | 0.51% |
| Fortis Inc/Canada | 0.47% |
| Lockheed Martin Corp | 0.46% |
| SBA Tower Trust | 0.45% |
C000038541 Prospectus and SEC Filings
Official Short-Term Income 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 Intermediate Corporate Bond 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.