The experienced managers running Principal California Municipal follow a standard, research-based approach to build this portfolio. Yet the team remains on the smaller side by industry standards and the team's willingness to hold relatively higher stakes of credit and interest-rate risk in this strategy combined with middling fees support a Morningstar Analyst Rating of Neutral on its cheaper share classes, while its most expensive share class is rated Negative.
Principal California Municipal C SRCCX
NAV / 1-Day Return
10.98
/
0.18
%
Total Assets
714.7 Mil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
1.600%
Expense Ratio
1.600%
Fee Level
High
Longest Manager Tenure
10.33
years
Category
Muni California Intermediate
Credit Quality / Interest Rate Sensitivity
Medium / ModerateMin. Initial Investment
1,000
Status
Open
TTM Yield
1.34%
Effective Duration
5.37
years
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will SRCCX 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 SRCCX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the SRCCX 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 SRCCX’s parent organization’s priorities and whether they’re in line with investors’ interests.
A riskier option in its category.
