PICAX — International Small Company Fund
Data updated: 2026-07-24
PICAX — International Small Company Fund. Developed ex-US Mid Cap Blend / Core Materials Equity · $356.16M AUM. Holdings, fees, performance and SEC filings.
PICAX Fund Overview
PICAX — International Small Company Fund is a US mutual fund managed by Principal Funds, Inc., categorised as Developed ex-US 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 Funds, Inc.
- Category: Developed ex-US Mid Cap Blend / Core Materials Equity
- Assets under management: $356.16M
- 1-year return: 18.3%
- Ticker: PICAX
- SEC CIK: 0000898745
- SEC series ID: S000045671
- Share class ID: C000142295
PICAX Investment Objective and Strategy
International Small Company 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 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 companies with small market capitalizations at the time of purchase. For this Fund, companies with small market capitalizations are those with market capitalizations within the range of companies comprising the MSCI World ex-USA Small Cap Index (as of May 31, 2018, this range was between approximately $12.0 million and $9.8 billion). The Fund may invest in equity securities regardless of style (growth or value). The Fund invests primarily in foreign equity securities. The Fund typically invests in foreign securities of more than 10 countries but has no limitation on the percentage of assets that is invested in each country or denominated in any currency.
Primary consideration is given to securities of corporations of developed areas, such as Japan, Western Europe, Canada, Australia, and New Zealand.
PICAX Holdings
Top 10 holdings of International Small Company Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Principal Funds, Inc - Government Money Market Fund - Class R-6 | 3.04% |
| Taiyo Yuden Co Ltd | 2.13% |
| PLS Group Ltd | 1.71% |
| Fuso Chemical Co Ltd | 1.46% |
| IG Group Holdings PLC | 1.42% |
| Food & Life Cos Ltd | 1.42% |
| Mebuki Financial Group Inc | 1.39% |
| Banca Mediolanum SpA | 1.38% |
| Imi PLC | 1.36% |
| Nkt A/s | 1.34% |
PICAX Portfolio Allocation
Asset-class allocation of International Small Company Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 98.2% |
| Cash & Equivalents | 3.2% |
PICAX Performance
Total returns for PICAX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 18.3% |
PICAX Risk Information
Risk metrics for PICAX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 30.0%
PICAX Costs and Fees
PICAX costs about $160 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.60%
- Gross expense ratio: 2.25%
- Portfolio turnover: 46%
- Brokerage commissions: 12.92 bps of average net assets (SEC N-CEN)
PICAX Cashflows
Over the 12 months to 2026-05, International Small Company Fund had net outflows of $196.96M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$52.20M |
| 2026-04 | −$25.01M |
| 2026-03 | −$8.98M |
| 2026-02 | −$1.93M |
| 2026-01 | −$90.10M |
| 2025-12 | $11.16M |
PICAX Debt Constituents
No individual debt constituents are reported in International Small Company Fund's latest SEC N-PORT filing.
PICAX Prospectus and SEC Filings
Official International Small Company Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-12-23
- Prospectus (485BPOS) — filed 2024-12-27
- Prospectus (485BPOS) — filed 2023-12-27
- Portfolio holdings (N-PORT) — filed 2026-07-24
- Portfolio holdings (N-PORT) — filed 2026-04-24
- Portfolio holdings (N-PORT) — filed 2026-01-23
- Annual census (N-CEN) — filed 2025-11-14
- Annual census (N-CEN) — filed 2023-11-13
Related Funds
Other Developed ex-US 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.