On Aug. 16, 2021, Principal altered the makeup of Principal Global Diversified Income’s U.S. large-cap equity sleeve. Instead of focusing solely on the highest-yielding firms, that sleeve now ranks positions by market cap and incorporates growth factors, though all holdings still must pay dividends. The firm also rebranded that allocation from U.S. Shareholder Yield to U.S. Equity. The changes do not affect the strategy’s Morningstar Analyst Ratings, which range from Neutral to Negative depending on the share class.
Will PGBAX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PGBAX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PGBAX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PGBAX’s parent organization’s priorities and whether they’re in line with investors’ interests.