Principal Tax-Exempt Bond Fund (PTEAX)
The investment seeks to provide a high level of income that is exempt from federal income tax while protecting investors' capital. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in tax-exempt bonds (securities issued by or on behalf of state or local governments and other public authorities) at the time of purchase. It also invests in inverse floating rate obligations (variable rate debt instruments that pay interest at rates that move in the opposite direction of prevailing interest rates), which are generally more volatile than other types of municipal obligations and may involve leverage.
Fund Info
US74254V8028
74254V802
Jan 2, 1977
$1,000
Expense Ratio
PTEAX has an expense ratio of 0.73%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Principal Tax-Exempt Bond Fund (PTEAX) returned -1.69% year-to-date (YTD) and 1.11% over the past 12 months. Over the past 10 years, PTEAX returned 1.94% annually, underperforming the S&P 500 benchmark at 10.84%.
PTEAX
-1.69%
0.15%
-2.27%
1.11%
1.50%
0.90%
1.94%
^GSPC (Benchmark)
0.52%
6.32%
-1.44%
12.25%
12.45%
14.20%
10.84%
Monthly Returns
The table below presents the monthly returns of PTEAX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.31% | 1.17% | -1.79% | -0.91% | -0.46% | -1.69% | |||||||
| 2024 | -0.01% | 0.27% | 0.28% | -0.97% | -0.13% | 1.47% | 0.59% | 0.76% | 0.85% | -1.45% | 1.49% | -1.18% | 1.94% |
| 2023 | 3.28% | -2.14% | 1.78% | 0.24% | -0.79% | 1.17% | 0.25% | -0.92% | -2.72% | -1.13% | 5.33% | 2.40% | 6.67% |
| 2022 | -2.99% | -0.93% | -3.35% | -3.46% | 0.95% | -2.11% | 2.92% | -2.23% | -4.51% | -1.16% | 4.85% | -0.03% | -11.78% |
| 2021 | 1.10% | -1.90% | 0.86% | 1.25% | 0.71% | 0.70% | 0.84% | -0.46% | -0.98% | -0.34% | 0.95% | 0.04% | 2.75% |
| 2020 | 2.08% | 1.87% | -7.87% | -2.21% | 3.67% | 2.43% | 2.26% | -0.23% | 0.05% | -0.20% | 2.23% | 1.15% | 4.80% |
| 2019 | 0.70% | 0.68% | 1.97% | 0.54% | 1.66% | 0.37% | 0.80% | 2.02% | -1.00% | 0.22% | 0.20% | 0.34% | 8.79% |
| 2018 | -1.07% | -0.28% | 0.34% | -0.13% | 1.02% | 0.03% | 0.01% | 0.34% | -0.72% | -0.97% | 0.89% | 1.02% | 0.46% |
| 2017 | 0.45% | 0.86% | 0.35% | 0.72% | 1.44% | -0.08% | 0.58% | 1.01% | -0.11% | 0.02% | 0.04% | 1.01% | 6.46% |
| 2016 | 0.96% | -0.20% | 0.76% | 0.87% | 0.57% | 1.92% | -0.09% | 0.43% | -0.63% | -1.46% | -4.84% | 1.07% | -0.80% |
| 2015 | 1.77% | -0.82% | 0.39% | -0.43% | -0.30% | -0.18% | 0.50% | 0.23% | 0.77% | 0.35% | 0.46% | 1.06% | 3.85% |
| 2014 | 2.39% | 1.59% | 0.35% | 1.59% | 1.87% | 0.05% | 0.22% | 1.45% | 0.50% | 0.57% | 0.15% | 0.73% | 12.05% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of PTEAX is 16, meaning it’s performing worse than 84% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Principal Tax-Exempt Bond Fund (PTEAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Principal Tax-Exempt Bond Fund provided a 3.65% dividend yield over the last twelve months, with an annual payout of $0.24 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.24 | $0.24 | $0.21 | $0.18 | $0.17 | $0.17 | $0.21 | $0.26 | $0.27 | $0.28 | $0.28 | $0.32 |
Dividend yield | 3.65% | 3.57% | 3.09% | 2.74% | 2.19% | 2.23% | 2.85% | 3.69% | 3.71% | 3.92% | 3.75% | 4.33% |
Monthly Dividends
The table displays the monthly dividend distributions for Principal Tax-Exempt Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.02 | $0.02 | $0.02 | $0.02 | $0.00 | $0.08 | |||||||
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.21 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.18 |
| 2021 | $0.01 | $0.01 | $0.02 | $0.02 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.17 |
| 2020 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.17 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.21 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2017 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2016 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.28 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.01 | $0.02 | $0.28 |
| 2014 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
Drawdowns
Drawdowns Chart
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Principal Tax-Exempt Bond 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 Tax-Exempt Bond Fund was 17.01%, occurring on Dec 15, 2008. Recovery took 178 trading sessions.
The current Principal Tax-Exempt Bond Fund drawdown is 6.45%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -17.01% | Jan 24, 2008 | 226 | Dec 15, 2008 | 178 | Aug 31, 2009 | 404 |
| -16.99% | Aug 6, 2021 | 308 | Oct 25, 2022 | — | — | — |
| -15.3% | Mar 3, 2020 | 14 | Mar 20, 2020 | 179 | Dec 3, 2020 | 193 |
| -9.81% | May 3, 2013 | 87 | Sep 5, 2013 | 174 | May 15, 2014 | 261 |
| -8.65% | Oct 15, 2010 | 65 | Jan 18, 2011 | 134 | Jul 29, 2011 | 199 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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