Principal LifeTime 2040 Fund
Principal Funds, Inc · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Principal LifeTime 2040 Fund is a target-date 2040 fund.
- Asset class
- Target-date
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Target year
- 2040
- Features
- Fund of funds
Fund profile
As filed in the prospectus · 2026 Q1
The Fund seeks a total return consisting of long-term growth of capital and current income.
The fund is a fund of funds that invests in underlying Principal Exchange-Traded Funds and Principal Funds across domestic and foreign equities, fixed-income securities, and real assets, with an asset allocation strategy designed for a specific retirement target year. The fund's asset allocation becomes progressively more conservative as it approaches and passes its target date, eventually aligning with a strategic income fund approximately ten years after the target year. The fund rebalances to maintain target weights across asset classes and may adjust those targets in response to market conditions or the shortening investment horizon.
| Share class | Gross | Net | As of |
|---|---|---|---|
| PTDMX | 1.11% | 1.15% | 2025 Q1 |
| PTDPX | 0.80% | 0.84% | 2025 Q1 |
| PTDIX | 0.55% | 0.59% | 2025 Q1 |
| PTDJX | 0.72% | 0.76% | 2025 Q1 |
| PTDAX | 0.88% | 0.93% | 2025 Q1 |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 38.90% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 76.51% |
| Bonds | 17.33% |
| Securitized | 4.90% |
| Cash & short-term | 0.88% |
| Loans | 0.16% |
| Derivatives | -0.01% |
Look-through blends 15 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Latest quarter
What changed since the fund's previous filing
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| — | — | — | — | — | |
| +20.02% | +45.86% | +34.50% | 9.30% | -8.82% | |
| +20.32% | +47.24% | +36.51% | 9.23% | -8.77% | |
| — | — | — | — | — | |
| +20.71% | +48.45% | +38.37% | 9.35% | -8.71% | |
| +20.43% | +47.66% | +37.11% | 9.27% | -8.76% | |
| +20.22% | +46.88% | +35.96% | 9.28% | -8.76% |
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| PLFIX | LargeCap S&P 500 Index FundPLFIX | 21.05% | $34.20 | $939.73M | 27.5M |
| PIIDX | International Equity FundPIIDX | 20.03% | $17.02 | $894.31M | 52.5M |
| PICNX | Core Fixed Income FundPICNX | 19.55% | $8.62 | $872.88M | 101.3M |
| — | Equity Income Fund | 5.63% | $44.59 | $251.31M | 5.6M |
| PIIMX | Global Emerging Markets FundPIIMX | 5.51% | $39.52 | $245.79M | 6.2M |
| PLVIX | LargeCap Value Fund IIIPLVIX | 5.10% | $18.52 | $227.85M | 12.3M |
| PLCGX | LargeCap Growth Fund IPLCGX | 4.68% | $15.97 | $208.96M | 13.1M |
| PGBHX | Blue Chip FundPGBHX | 4.32% | $41.20 | $192.60M | 4.7M |
| PSMLX | SmallCap FundPSMLX | 3.40% | $34.33 | $151.96M | 4.4M |
| PHYFX | High Yield FundPHYFX | 3.30% | $6.63 | $147.29M | 22.2M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 92.58% of net assets, top 25 99.93%, across 15 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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