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Morningstar

Principal Tax-Exempt Bond A PTEAX

Morningstar Medalist Rating
Medalist Rating as of | See Principal Investment Hub
  • NAV / 1-Day Return 6.67  /  0.02 %
  • Total Assets 582.1 Mil
  • Adj. Expense Ratio
    0.730%
  • Expense Ratio 0.760%
  • Distribution Fee Level Above Average
  • Share Class Type Front Load
  • Category Muni National Interm
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 2.97%
  • Effective Duration 5.79 years

USD | NAV as of Jun 02, 2023 | 1-Day Return as of Jun 02, 2023, 10:16 PM GMT+0

Morningstar’s Analysis PTEAX

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

People Pillar

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

In for a wild ride.

Analyst Chiayi Tsui

Chiayi Tsui

Analyst

Summary

Principal Tax-Exempt Bond’s stable and experienced team follows a standard research-based approach, but a tendency to hold higher levels of credit and interest-rate risk relative to peers, combined with unappealing fees, support a Morningstar Analyst Rating of Neutral on its cheaper share classes and Negative on its priciest share class.

by Chiayi Tsui
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings PTEAX

More PTEAX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 259
  • Other Holdings 8
  • % Assets in Top 10 Holdings 14.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

METROPOLITAN WASH D C ARPTS AUTH ARPT SYS REV

1.97
11,419,662
municipal

TEXAS MUN GAS ACQUISITION & SUPPLY CORP I GAS SUPPLY REV

1.85
10,699,049
municipal

PITTSBURGH & ALLEGHENY CNTY PA SPORTS & EXHIB AUTH HOTEL ROOM EXCISE TAX RE

1.82
10,570,324
municipal

KENTUCKY ST TPK AUTH ECONOMIC DEV RD REV

1.34
7,794,077
municipal

NEW YORK TRANSN DEV CORP SPL FAC REV

1.32
7,659,376
municipal

ILLINOIS ST

1.31
7,607,427
municipal

TOBACCO SETTLEMENT FING CORP N J

1.29
7,472,975
municipal

CALIFORNIA HSG FIN AGY MUN CTFS

1.21
7,008,546
municipal

LOUISIANA LOC GOVT ENVIRONMENTAL FACS & CMNTY DEV AUTH REV

1.16
6,726,929
municipal

NATIONAL FIN AUTH N H SOLID WASTE DISP REV

1.15
6,646,697
municipal