Principal California Municipal Fund Institutional Class (PCMFX)
| Fund Assets | 658.04M |
| Expense Ratio | 0.63% |
| Min. Investment | $1,000 |
| Turnover | 52.20% |
| Dividend (ttm) | 0.36 |
| Dividend Yield | 3.67% |
| Dividend Growth | 11.37% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Dec 31, 2025 |
| Previous Close | 9.87 |
| YTD Return | 0.51% |
| 1-Year Return | 4.44% |
| 5-Year Return | 2.70% |
| 52-Week Low | 9.16 |
| 52-Week High | 9.89 |
| Beta (5Y) | n/a |
| Holdings | 213 |
| Inception Date | Feb 27, 2015 |
About PCMFX
Principal California Municipal Fund Institutional Class is an actively managed municipal bond mutual fund focused on delivering a high level of current income that is exempt from federal and California state personal income taxes. Under normal conditions, it invests at least 80% of assets in municipal obligations issued by California state and local entities, spanning essential-service revenue bonds, housing and infrastructure authorities, education facilities, and pollution control financing agencies. The fund is managed by Principal Fixed Income, drawing on experienced portfolio managers and a research-driven approach calibrated to the intermediate segment of the muni curve. Its mandate and sector mix position it within the Muni California Intermediate category, with portfolio diversification across more than 200 holdings and a moderate duration profile typical of intermediate municipal strategies. The strategy’s role in the market is to provide tax-advantaged income for eligible institutional investors while maintaining disciplined credit selection and structure analysis against the Bloomberg California municipal benchmark. The fund distributes income monthly and reflects expenses aligned with institutional share class standards, supported by a long-term track record since 2015.
Performance
PCMFX had a total return of 4.44% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.84%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
| Symbol | Provider | Name | Expense Ratio |
|---|---|---|---|
| VCITX | Vanguard | Vanguard California Long-Term Tax-Exempt Fund Investor Shares | 0.14% |
Top 10 Holdings
18.34% of assets| Name | Symbol | Weight |
|---|---|---|
| CALIFORNIA PUB FIN AUTH SR LIVING REV | CA.CASMED 6.5 06.01.2054 | 2.65% |
| CALIFORNIA POLLUTION CTL FING AUTH WTR FURNISHING REV | CA.CASPOL 5 07.01.2037 | 1.95% |
| CALIFORNIA HSG FIN AGY MUN CTFS | CA.CASHSG 3.75 03.25.2035 | 1.85% |
| CALIFORNIA EDL FACS AUTH REV | CA.CASEDU 5 04.01.2051 | 1.75% |
| LOS ANGELES CNTY CALIF PUB WKS FING AUTH LEASE REV | n/a | 1.71% |
| SAN DIEGO CNTY CALIF REGL ARPT AUTH ARPT REV | n/a | 1.71% |
| CALIFORNIA HEALTH FACS FING AUTH REV | CA.CASMED 06.01.2041 | 1.70% |
| CALIFORNIA EDL FACS AUTH REV | CA.CASEDU 5 05.01.2045 | 1.69% |
| SACRAMENTO CNTY CALIF ARPT SYS REV | CA.SACAPT 5.25 07.01.2054 | 1.67% |
| GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV | CA.GLDGEN 5 06.01.2051 | 1.67% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 31, 2025 | $0.03204 | Dec 31, 2025 |
| Nov 28, 2025 | $0.02769 | Nov 28, 2025 |
| Oct 31, 2025 | $0.03352 | Oct 31, 2025 |
| Sep 30, 2025 | $0.02948 | Sep 30, 2025 |
| Aug 29, 2025 | $0.03243 | Aug 29, 2025 |
| Jul 31, 2025 | $0.03154 | Jul 31, 2025 |