PMGRX — Government & High Quality Bond Fund
Data updated: 2026-09-25
PMGRX — Government & High Quality Bond Fund. Long Securitized (MBS/ABS/CMBS) Bond · $521.53M AUM. Holdings, fees, performance and SEC filings.
PMGRX Fund Overview
PMGRX — Government & High Quality Bond Fund is a US mutual fund managed by Principal Funds, Inc., categorised as Long Securitized (MBS/ABS/CMBS) 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 Securitized (MBS/ABS/CMBS) Bond
- Assets under management: $521.53M
- 1-year return: 10.1%
- Ticker: PMGRX
- SEC CIK: 0000898745
- SEC series ID: S000014244
- Share class ID: C000113840
PMGRX Investment Objective and Strategy
Government & High Quality 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 a high level of current income consistent with safety and liquidity.
Principal investment strategy
"Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in debt securities issued by the U.S. government, its agencies or instrumentalities or debt securities that are rated, at the time of purchase, AAA by S&P Global Ratings (""S&P Global"") or Aaa by Moody's Investors Service, Inc. (""Moody's""), or, if unrated, in the opinion of those selecting such investments, are of comparable quality including but not limited to mortgage securities such as agency and non-agency collateralized mortgage obligations, and other obligations that are secured by mortgages or mortgage-backed securities (securitized products). The Fund also invests in mortgage-backed securities that are not issued by the U.S. government, its agencies or instrumentalities or rated lower than AAA by S&P Global, AAA by Fitch, or Aaa by Moody's (or of comparable quality), including collateralized mortgage obligations, and in other obligations that are secured by mortgages or mortgage-backed securities.
Under normal circumstances, the Fund maintains an average portfolio duration that is within 25% of the duration of the Bloomberg Barclays Fixed-Rate MBS Index, which as of December 31, 2017 was 4.43 years . The Fund is not managed to a particular maturity."
PMGRX Holdings
Top 10 holdings of Government & High Quality Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Ginnie Mae II Pool | 2.42% |
| Ginnie Mae II Pool | 2.02% |
| Freddie Mac Pool | 1.76% |
| Fannie Mae Pool | 1.71% |
| Ginnie Mae II Pool | 1.69% |
| Freddie Mac Pool | 1.69% |
| Freddie Mac Pool | 1.57% |
| Fannie Mae Pool | 1.57% |
| Fannie Mae Pool | 1.55% |
| Fannie Mae Pool | 1.50% |
PMGRX Portfolio Allocation
Asset-class allocation of Government & High Quality Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Securitized | 99.6% |
| Cash & Equivalents | 1.4% |
| Fixed Income | 0.5% |
| Real Estate | 0.1% |
PMGRX Performance
Total returns for PMGRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 10.1% |
| 3 years (annualised) | -3.2% |
| 5 years (annualised) | -1.9% |
PMGRX Risk Information
Risk metrics for PMGRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.2%
PMGRX Costs and Fees
PMGRX costs about $129 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.29%
- Gross expense ratio: 1.38%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
PMGRX Cashflows
Over the 12 months to 2026-04, Government & High Quality Bond Fund had net outflows of $67.96M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$3.69M |
| 2026-03 | −$3.88M |
| 2026-02 | −$19.24M |
| 2026-01 | −$2.21M |
| 2025-12 | −$3.50M |
| 2025-11 | −$4.74M |
PMGRX Debt Constituents
Largest debt holdings of Government & High Quality Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States Treasury Bill | 0.49% |
PMGRX Prospectus and SEC Filings
Official Government & High Quality 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 Securitized (MBS/ABS/CMBS) 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.