PBMSX — Core Plus Bond Fund

PBMSX Fund Overview

PBMSX — Core Plus Bond Fund is a US mutual fund managed by Principal Funds, Inc., categorised as Long Total / Aggregate 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 Funds, Inc.
• Category: Long Total / Aggregate Bond
• Assets under management: $462.76M
• 1-year return: 10.6%
• Ticker: PBMSX
• SEC CIK: 0000898745
• SEC series ID: S000006952
• Share class ID: C000018960

PBMSX Investment Objective and Strategy

Core Plus Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Principal Funds, Inc..

Investment objective

The Fund seeks to provide current income

Principal investment strategy

"Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in bonds or other debt securities at the time of purchase. The bonds and other debt securities in which the Fund invests include intermediate maturity fixed-income securities, which are rated, at the time of purchase, BBB- or higher by S&P Global Ratings (""S&P Global"") or Baa3 or higher by Moody's Investors Service, Inc. (""Moody's). The fixed-income securities in which the Fund invests include securities issued or guaranteed by the U.S. government or its agencies or instrumentalities (including collateralized mortgage obligations); asset-backed securities or mortgage-backed securities (securitized products); corporate bonds; and securities issued or guaranteed by foreign governments payable in U.S.

dollars. The Fund also invests in foreign securities, and up to 20% of its assets in below investment grade bonds (sometimes called high yield bonds or ""junk bonds"") which are rated at the time of purchase Ba1 or lower by Moody's and BB+ or lower by S&P Global (if the bond has been rated by only one of those agencies, that rating will determine whether the bond is below investment grade; if the bond has not been rated by either of those agencies, those selecting such investments will determine whether the bond is of a quality comparable to those rated below investment grade). The Fund is not managed to a particular maturity. Under normal circumstances, the Fund maintains an average portfolio duration that is within 25% of the duration of the Bloomberg Barclays U.S. Aggregate Bond Index, which as of December 31, 2017 was 5.98 years .

The Fund actively trades portfolio securities and enters into dollar roll transactions which may involve leverage. The Fund utilizes derivative strategies for hedging or managing 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. Specifically, the Fund invests in Treasury futures or interest rate swaps to manage the fixed-income exposure (including for hedging purposes) and credit default swaps to increase or decrease, in an efficient manner, exposures to certain sectors or individual issuers. During the fiscal year ended October 31, 2017, the average ratings of the Funds fixed-income assets, based on market value at each month-end, were as follows (all ratings are by Moodys): 43.83% in securities rated Aaa 24.43% in securities rated Baa 0.83% in securities rated Caa 0.00% in securities rated D 4.43% in securities rated Aa 8.66% in securities rated Ba 0.01% in securities rated Ca 1.27% in securities not rated 11.71% in securities rated A 4.83% in securities rated B 0.00% in securities rated C"

PBMSX Holdings

Top 10 holdings of Core Plus Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all PBMSX holdings

PBMSX Portfolio Allocation

Asset-class allocation of Core Plus Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

PBMSX Performance

Total returns for PBMSX (as of 2026-10-01), from SEC filings.

PBMSX Risk Information

Risk metrics for PBMSX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 8.4%

PBMSX Costs and Fees

PBMSX costs about $81 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.81%
• Gross expense ratio: 0.81%
• Portfolio turnover: 165%
• Brokerage commissions: 0.20 bps of average net assets (SEC N-CEN)

PBMSX Cashflows

Over the 12 months to 2026-04, Core Plus Bond Fund had net outflows of $47.10M, from monthly SEC N-PORT filings.

PBMSX Debt Constituents

Largest debt holdings of Core Plus Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.

PBMSX Prospectus and SEC Filings

Official Core Plus Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2026-02-27
• Prospectus (485BPOS) — filed 2025-02-26
• Prospectus (485BPOS) — filed 2024-02-27
• Portfolio holdings (N-PORT) — filed 2026-09-25
• Portfolio holdings (N-PORT) — filed 2026-06-25
• Portfolio holdings (N-PORT) — filed 2026-03-25
• Annual census (N-CEN) — filed 2026-01-14
• Annual census (N-CEN) — filed 2025-01-13

Related Funds

Other Long Total / Aggregate Bond funds tracked on ABC INVEST:

• Dodge & Cox Income Fund (DODIX)
• Bond Fund Of America (ABNDX)
• Fidelity U.S. Bond Index Fund (FUBFX)
• Baird Aggregate Bond Fund (BAGIX)
• PGIM Total Return Bond Fund (PDBAX)

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.