Morningstar

Principal California Municipal Fund Institutional Class PCMFX

Morningstar Medalist Rating
Medalist Rating as of | See Principal Investment Hub
  • NAV / 1-Day Return 9.83  /  0.00
  • Total Assets 683.2M
  • Adj. Expense Ratio
    0.460%
  • Expense Ratio 0.460%
  • Distribution Fee Level Average
  • Share Class Type Institutional
  • Category Muni California Intermediate
  • Credit Quality / Interest Rate Sensitivity Medium/Moderate
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 3.73%
  • Effective Duration 5.47 years

USD | NAV as of Jun 09, 2026 | 1-Day Return as of Jun 09, 2026, 12:15 AM GMT+0

Morningstar’s Analysis PCMFX

Will PCMFX outperform in the future?

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

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PCMFX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PCMFX 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 PCMFX’s parent organization’s priorities and whether they’re in line with investors’ interests.

An aggressive approach to California intermediate-term munis.

Associate Director Tom Murphy

Tom Murphy

Associate Director

Summary

Principal California Municipal features a stable and experienced management team, but more resources supporting the relatively bold approach would be a plus.

by Tom Murphy
Rated on Published on

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Portfolio Holdings PCMFX

More PCMFX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings 17.5
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

CALIFORNIA PUB FIN AUTH SR LIVING REV

2.45 17M
municipal

CALIFORNIA POLLUTION CTL FING AUTH WTR FURNISHING REV

1.86 13M
municipal

CALIFORNIA HSG FIN AGY MUN CTFS

1.76 12M
municipal

CALIFORNIA EDL FACS AUTH REV

1.67 11M
municipal

CALIFORNIA EDL FACS AUTH REV

1.66 11M
municipal

LOS ANGELES CNTY CALIF PUB WKS FING AUTH LEASE REV

1.65 11M
municipal

SAN DIEGO CNTY CALIF REGL ARPT AUTH ARPT REV

1.63 11M
municipal

CALIFORNIA HEALTH FACS FING AUTH REV

1.61 11M
municipal

GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV

1.58 11M
municipal

SACRAMENTO CNTY CALIF ARPT SYS REV

1.58 11M
municipal

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