Morningstar

Principal MidCap Fund Institutional Class PCBIX

Medalist Rating as of Oct 29, 2026 See Principal Investment Hub

Will PCBIX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

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Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PCBIX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the PCBIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of PCBIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Its key pieces remain in place but aren't standing in place.

Principal Tony Thomas

Tony Thomas

Principal

Summary

Principal MidCap (available as a mutual fund or separate accounts) had a rough 18 months through September 2026, but its best parts are intact—and adapting. It remains promising for long-term investors and will be open to new investors in November 2026 for the first time in years.

by Tony Thomas

Rated on Oct 29, 2026 Published on Oct 29, 2026

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