Principal Opportunistic Municipal Fund (PMOAX)

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Principal Opportunistic Municipal Fund (PMOAX) is up 2.3% since the beginning of the year. PMOAX is currently trading at $10 per share. Investors who bought $1,000 worth of PMOAX shares 5 years ago would now be looking at an investment worth $998.

Principal Opportunistic Municipal Fund (PMOAX) has returned 2.30% so far this year and 7.73% over the past 12 months. Over the last ten years, PMOAX has returned 2.49% per year, falling short of the S&P 500 Index benchmark, which averaged 13.66% annually.

Based on dividend-adjusted daily data since Jun 15, 2012, PMOAX's average daily return is +0.01%, while the average monthly return is +0.31%. At this rate, an investment would double in approximately 18.7 years.

Historically, 67% of months were positive and 33% were negative. The best month was Nov 2023 with a return of +6.0%, while the worst month was Mar 2020 at -11.3%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 4 months.

On a daily basis, PMOAX closed higher 39% of trading days. The best single day was Mar 25, 2020 with a return of +3.4%, while the worst single day was Mar 19, 2020 at -4.7%.

Principal Opportunistic Municipal Fund has an annualized alpha of 3.31%, beta of 0.02, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since June 18, 2012.

• This fund participated in 23.55% of S&P 500 Index downside but only 20.50% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.02 may look defensive, but with R2 of 0.01 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.01 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PMOAX has an expense ratio of 0.84%, placing it in the medium range.

PMOAX ranks 62 for risk / return — better than 62% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Principal Opportunistic Municipal Fund (PMOAX) and compare them to S&P 500 Index.

Principal Opportunistic Municipal Fund provided a 4.51% dividend yield over the last twelve months, with an annual payout of $0.43 per share. The fund has been increasing its distributions for 3 consecutive years.

The table displays the monthly dividend distributions for Principal Opportunistic Municipal Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Principal Opportunistic Municipal Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Principal Opportunistic Municipal Fund was 21.33%, occurring on Oct 26, 2022. The portfolio has not yet recovered.

The current Principal Opportunistic Municipal Fund drawdown is 2.31%.

The chart below shows the rolling one-month volatility.