About SRCCX
Principal California Municipal Fund Class C is an open-end municipal bond mutual fund focused on generating a high level of tax-exempt income for investors subject to U.S. federal and California state personal income taxes. The portfolio primarily invests at least 80% of assets in California municipal obligations, emphasizing intermediate-maturity bonds to balance income with interest-rate sensitivity. Managed by Principal Fixed Income, the strategy actively allocates across revenue and general obligation issuers, sectors such as transportation, healthcare, utilities, and essential-services infrastructure, and a range of credit qualities within the investment-grade spectrum. The fund seeks diversification across issuers and bond structures while managing call risk, credit risk, and duration relative to California-focused municipal benchmarks. It plays a specialized role in the market by channeling capital to public projects across the state, supporting schools, hospitals, housing, and utilities, and offering investors targeted, state-specific tax-advantaged income. Class C shares feature a higher ongoing expense structure with a distribution fee, reflecting the share class’s load and servicing design within the broader fund family.
Fund Family Principal Funds
Category Muni California Intermediate
Performance Rating Low
Risk Rating Above Average
Stock Exchange NASDAQ
Ticker Symbol SRCCX
Share Class Class C
Index Bloomberg California TaxExempt Muni Bd TR
SRCCX had a total return of 3.65% in the past year, including dividends. Since the fund's
inception, the average annual return has been 2.20%.
