Skip to Content
Morningstar

Principal High Yield Inst PHYTX

Morningstar Medalist Rating
Medalist Rating as of | See Principal Investment Hub
  • NAV / 1-Day Return 6.34  /  0.14 %
  • Total Assets 2.4 Bil
  • Adj. Expense Ratio
    0.610%
  • Expense Ratio 0.610%
  • Distribution Fee Level Below Average
  • Share Class Type Institutional
  • Category High Yield Bond
  • Credit Quality / Interest Rate Sensitivity Low / Limited
  • Min. Initial Investment —
  • Status Open
  • TTM Yield 6.04%
  • Effective Duration 3.47 years

USD | NAV as of Sep 28, 2023 | 1-Day Return as of Sep 28, 2023, 10:21 PM GMT+0

Morningstar’s Analysis PHYTX

Will PHYTX outperform in 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 PHYTX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

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

A high-yield offering run by a capable team.

Analyst Chiayi Tsui

Chiayi Tsui

Analyst

Summary

Principal High Yield is run by a team of experienced managers and dedicated analysts with diverse backgrounds. A well-structured process anchored in bottom-up research has at times struggled to maintain its footing during rocky market conditions. The strategy earns a Morningstar Analyst Rating of Neutral on all share classes.

by Chiayi Tsui
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings PHYTX

More PHYTX Holdings
  • Current Portfolio Date
  • Equity Holdings 3
  • Bond Holdings 301
  • Other Holdings 19
  • % Assets in Top 10 Holdings 12.9
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Principal Government Money Market R-6

4.33
104,861,443
—

United States Treasury Notes

1.86
44,944,379
Government

MOZART DEBT MERGER

0.98
23,748,229
Corporate

Tenet Healthcare Corporation 6.125%

0.94
22,844,882
Corporate

SRM Escrow Issuer Llc 6%

0.92
22,160,852
Corporate

NRG Energy, Inc. 3.875%

0.81
19,711,813
Corporate

Acadia Healthcare Company, Inc. 5%

0.78
18,831,867
Corporate

CCO Holdings, LLC/ CCO Holdings Capital Corp. 4.75%

0.76
18,510,217
Corporate

Ladder Capital Finance Holdings LLLP/ Ladder Capital Finance Corp. 4.75%

0.76
18,361,482
Corporate

Archrock Partners LP/Archrock Partners Finance Corp 6.25%

0.76
18,359,482
Corporate