| Label |
Element |
Value |
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Document Type |
dei_DocumentType |
485BPOS |
|
| Document Period End Date |
dei_DocumentPeriodEndDate |
Dec. 31,
2012 |
|
| Registrant Name |
dei_EntityRegistrantName |
PRINCIPAL VARIABLE CONTRACTS FUNDS INC |
|
| Central Index Key |
dei_EntityCentralIndexKey |
0000012601 |
|
| Amendment Flag |
dei_AmendmentFlag |
false |
|
| Document Creation Date |
dei_DocumentCreationDate |
Oct. 31,
2013 |
|
| Document Effective Date |
dei_DocumentEffectiveDate |
Oct. 31,
2013 |
|
| Prospectus Date |
rr_ProspectusDate |
Oct. 31,
2013 |
|
|
PVC Contract Funds Prospectus | Diversified Balanced Managed Volatility Account
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Risk/Return [Heading] |
rr_RiskReturnHeading |
DIVERSIFIED BALANCED MANAGED VOLATILITY ACCOUNT |
|
| Objective [Heading] |
rr_ObjectiveHeading |
Objective: |
|
| Objective, Primary [Text Block] |
rr_ObjectivePrimaryTextBlock |
The Account seeks to provide as high a level of total return (consisting of reinvested income and capital appreciation) as is consistent with reasonable risk, with an emphasis on managing volatility. |
|
| Expense [Heading] |
rr_ExpenseHeading |
Fees and Expenses of the Account |
|
| Expense Narrative [Text Block] |
rr_ExpenseNarrativeTextBlock |
This table describes the fees and expenses that you may pay if you buy and hold shares of the Account. These fees and expenses do not reflect the fees and expenses of any variable insurance contract that may invest in the Account and would be higher if they did. |
|
| Operating Expenses Caption [Text] |
rr_OperatingExpensesCaption |
Annual Account Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) |
|
| Portfolio Turnover [Heading] |
rr_PortfolioTurnoverHeading |
Portfolio Turnover |
|
| Portfolio Turnover [Text Block] |
rr_PortfolioTurnoverTextBlock |
As a fund of funds, the Account does not pay transaction costs, such as commissions, when it buys and sells shares of underlying funds (or “turns over” its portfolio). An underlying fund does pay transaction costs when it buys and sells portfolio securities, and a higher portfolio turnover may indicate higher transaction costs. These costs, which are not reflected in annual account operating expenses or in the examples, affect the performance of the underlying fund and the Account. This is a new Account and does not yet have a portfolio turnover rate to disclose. |
|
| Expense Example [Heading] |
rr_ExpenseExampleHeading |
Example |
|
| Expense Example Narrative [Text Block] |
rr_ExpenseExampleNarrativeTextBlock |
This Example is intended to help you compare the cost of investing in the Account with the cost of investing in other mutual funds. |
|
| Expense Example by, Year, Caption [Text] |
rr_ExpenseExampleByYearCaption |
The Example assumes that you invest $10,000 in the Account for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Account’s operating expenses remain the same. If separate account expenses and contract level expenses were included, expenses would be higher. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
|
| Strategy [Heading] |
rr_StrategyHeading |
Principal Investment Strategies |
|
| Strategy Narrative [Text Block] |
rr_StrategyNarrativeTextBlock |
The Account operates as a fund of funds and invests in underlying funds. In pursuing its investment objective, the Account typically allocates its assets, within predetermined percentage ranges, among the “underlying funds”: Funds of Principal Funds, Inc. ("PFI") (Institutional class shares) - the International Equity Index, MidCap S&P 400 Index, and SmallCap S&P 600 Index Funds - and Accounts of Principal Variable Contracts Funds, Inc. ("PVC") (Class 1 Shares) - the Bond Market Index and LargeCap S&P 500 Managed Volatility Index Accounts. The Account generally allocates approximately 50% of its assets to the equity index funds to gain broad market capitalization exposure to both U.S. and non-U.S investments and approximately 50% to the Bond Market Index Account for intermediate duration fixed-income exposure. The percentages reflect the extent to which the Account normally invests in the particular market segment represented by the underlying funds, and the asset allocation strategy influences the potential investment risk and reward of the Account. Without shareholder approval, Principal Management Corporation ("Principal"), the manager for PVC and PFI, may alter the percentage ranges and/or substitute or remove underlying funds (including investing in other investment companies) when it deems appropriate in order to achieve the Account's investment objective. The assets of the Account are allocated among underlying funds in accordance with its investment objective, while considering Principal's outlook for the economy, the financial markets, and the relative market valuations of the underlying funds. In selecting underlying funds and their target weights, Principal considers, among other things, quantitative measures, such as past performance, expected levels of risk and returns, expense levels, diversification of existing funds, and style consistency. The Account is re-balanced monthly. The net asset value of the Account's shares is affected by changes in the value of the shares of the underlying funds it owns. The Account's investments are invested in the underlying funds and, as a result, the Account's performance is directly related to their performance. The Account's ability to meet its investment objective depends on the ability of the underlying funds to achieve their investment objectives. The Account's underlying funds utilize derivative strategies. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index. Specifically, the underlying funds invest in equity index futures to manage the equity exposure and Treasury futures to manage the fixed-income exposure. An underlying fund also buys vertical call spreads and vertical put spreads as part of an active strategy intended to reduce volatility. Vertical spreads are the simultaneous purchase and sale of two options of the same type with the same expiration date but two different strike prices. The strike price is the fixed price at which the owner of the option can buy (in the case of a call), or sell (in the case of a put), the underlying security. |
|
| Risk [Heading] |
rr_RiskHeading |
Principal Risks |
|
| Risk Narrative [Text Block] |
rr_RiskNarrativeTextBlock |
The Account may be an appropriate investment for investors seeking the potential for a medium level of income and a medium level of capital growth, while exposing them to a medium level of principal risk. The diversification of the Account is designed to cushion losses in any one investment sector and moderate overall price volatility. However, the Account is subject to the particular risks of the underlying funds in the proportions in which the Account invests in them, and its share prices will fluctuate as the prices of underlying fund shares rise or fall with changing market conditions. If you sell your shares when their value is less than the price you paid, you will lose money. The Account operates as a fund of funds and thus bears both its own expenses and, indirectly, its proportionate share of the expenses of the underlying funds in which it invests. An investment in the Account is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks of investing in the Account that are inherent in the fund of funds, in alphabetical order, are: Asset Allocation Risk. A fund's selection and weighting of asset classes may cause it to underperform other funds with a similar investment objective. Conflict of Interest Risk. The Advisor and its affiliates earn different fees from different underlying funds and may have an incentive to allocate more fund-of-fund assets to underlying funds from which they receive higher fees. Investment Company Securities Risk. Fund shareholders bear indirectly their proportionate share of the expenses of other investment companies in which the fund invests. The principal risks of investing in the Account that are inherent in the underlying funds, in alphabetical order, are: Derivatives Risk. Transactions in derivatives may increase volatility, cause the liquidation of portfolio positions when not advantageous to do so and produce disproportionate losses. Equity Securities Risk. The value of equity securities could decline if the issuer's financial condition declines or in response to overall market and economic conditions. A fund's principal market segment(s), such as large cap, mid cap or small cap stocks, or growth or value stocks, may underperform other market segments or the equity markets as a whole. Investments in smaller companies and mid-size companies may involve greater risk and price volatility than investments in larger, more mature companies. Exchange-Traded Funds ("ETFs") Risk. An ETF is subject to the risks associated with direct ownership of the securities comprising the index on which the ETF is based. Fund shareholders indirectly bear their proportionate share of the expenses of the ETFs in which the fund invests. Fixed-Income Securities Risk. Fixed-income securities are subject to interest rate risk and credit quality risk. The market value of fixed-income securities generally declines when interest rates rise, and an issuer of fixed-income securities could default on its payment obligations. Index Fund Investment Risk. More likely than not, an index fund will underperform the index due to cashflows and the fees and expenses of the fund. Investment Company Securities Risk. Fund shareholders bear indirectly their proportionate share of the expenses of other investment companies in which the fund invests. Portfolio Duration Risk. Portfolio duration is a measure of the expected life of a fixed-income security and its sensitivity to changes in interest rates. The longer a fund's average portfolio duration, the more sensitive the fund will be to changes in interest rates. Prepayment Risk. Unscheduled prepayments on mortgage-backed and asset-backed securities may have to be reinvested at lower rates. A reduction in prepayments may increase the effective maturities of these securities, exposing them to the risk of decline in market value over time (extension risk). Real Estate Securities Risk. Real estate securities are subject to the risks associated with direct ownership of real estate, including declines in value, adverse economic conditions, increases in expenses, regulatory changes and environmental problems. Investing in securities of companies in the real estate industry, subjects a fund to the special risks associated with the real estate market including factors such as loss to casualty or condemnation, changes in real estate values, property taxes, interest rates, cash flow of underlying real estate assets, occupancy rates, government regulations affecting zoning, land use and rents, and the management skill and creditworthiness of the issuer. Risk of Being an Underlying Fund. A fund is subject to the risk of being an underlying fund to the extent that a fund of funds invests in the fund. An underlying fund of a fund of funds may experience relatively large redemptions or investments as the fund of funds periodically reallocates or rebalances its assets. These transactions may cause the underlying fund to sell portfolio securities to meet such redemptions, or to invest cash from such investments, at times it would not otherwise do so, and may as a result increase transaction costs and adversely affect underlying fund performance. U.S. Government Securities Risk. Yields available from U.S. government securities are generally lower than yields from many other fixed-income securities. U.S. Government Sponsored Securities Risk. Securities issued by U.S. government-sponsored or -chartered enterprises such as the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, and the Federal Home Loan Banks are not issued or guaranteed by the U.S. Treasury. Volatility Management Risk. Volatility management strategies may increase fund transaction costs, which could increase losses or reduce gains. These strategies may not protect the fund from market declines and may reduce the fund's participation in market gains. |
|
| Risk Lose Money [Text] |
rr_RiskLoseMoney |
If you sell your shares when their value is less than the price you paid, you will lose money. |
|
| Risk Not Insured Depository Institution [Text] |
rr_RiskNotInsuredDepositoryInstitution |
An investment in the Account is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
|
| Bar Chart and Performance Table [Heading] |
rr_BarChartAndPerformanceTableHeading |
Performance |
|
| Performance Narrative [Text Block] |
rr_PerformanceNarrativeTextBlock |
No performance is shown because the Account has not yet had a calendar year of performance. The Account's performance will be compared to the Barclays U.S. Aggregate Bond Index. |
|
| Performance One Year or Less [Text] |
rr_PerformanceOneYearOrLess |
No performance is shown because the Account has not yet had a calendar year of performance. |
|
|
PVC Contract Funds Prospectus | Diversified Balanced Managed Volatility Account | Diversified Balanced Managed Volatility Account, Class 2
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Management Fees (as a percentage of Assets) |
rr_ManagementFeesOverAssets |
0.05% |
|
| Distribution and Service (12b-1) Fees |
rr_DistributionAndService12b1FeesOverAssets |
0.25% |
|
| Other Expenses (as a percentage of Assets): |
rr_OtherExpensesOverAssets |
0.01% |
[1] |
| Acquired Fund Fees and Expenses |
rr_AcquiredFundFeesAndExpensesOverAssets |
0.34% |
|
| Expenses (as a percentage of Assets) |
rr_ExpensesOverAssets |
0.65% |
|
| Fee Waiver or Reimbursement |
rr_FeeWaiverOrReimbursementOverAssets |
none
|
[2] |
| Net Expenses (as a percentage of Assets) |
rr_NetExpensesOverAssets |
0.65% |
|
| Fee Waiver or Reimbursement over Assets, Date of Termination |
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination |
April 30, 2015 |
|
| Expense Example, with Redemption, 1 Year |
rr_ExpenseExampleYear01 |
$ 66 |
|
| Expense Example, with Redemption, 3 Years |
rr_ExpenseExampleYear03 |
208 |
|
|
PVC Contract Funds Prospectus | Diversified Growth Managed Volatility Account
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Risk/Return [Heading] |
rr_RiskReturnHeading |
DIVERSIFIED GROWTH MANAGED VOLATILITY ACCOUNT |
|
| Objective [Heading] |
rr_ObjectiveHeading |
Objective: |
|
| Objective, Primary [Text Block] |
rr_ObjectivePrimaryTextBlock |
The Account seeks to provide long-term capital appreciation, with an emphasis on managing volatility. |
|
| Expense [Heading] |
rr_ExpenseHeading |
Fees and Expenses of the Account |
|
| Expense Narrative [Text Block] |
rr_ExpenseNarrativeTextBlock |
This table describes the fees and expenses that you may pay if you buy and hold shares of the Account. These fees and expenses do not reflect the fees and expenses of any variable insurance contract that may invest in the Account and would be higher if they did. |
|
| Operating Expenses Caption [Text] |
rr_OperatingExpensesCaption |
Annual Account Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) |
|
| Portfolio Turnover [Heading] |
rr_PortfolioTurnoverHeading |
Portfolio Turnover |
|
| Portfolio Turnover [Text Block] |
rr_PortfolioTurnoverTextBlock |
As a fund of funds, the Account does not pay transaction costs, such as commissions, when it buys and sells shares of underlying funds (or “turns over” its portfolio). An underlying fund does pay transaction costs when it buys and sells portfolio securities, and a higher portfolio turnover may indicate higher transaction costs. These costs, which are not reflected in annual account operating expenses or in the examples, affect the performance of the underlying fund and the Account. This is a new Account and does not yet have a portfolio turnover rate to disclose. |
|
| Expense Example [Heading] |
rr_ExpenseExampleHeading |
Example |
|
| Expense Example Narrative [Text Block] |
rr_ExpenseExampleNarrativeTextBlock |
This Example is intended to help you compare the cost of investing in the Account with the cost of investing in other mutual funds. |
|
| Expense Example by, Year, Caption [Text] |
rr_ExpenseExampleByYearCaption |
The Example assumes that you invest $10,000 in the Account for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Account’s operating expenses remain the same. If separate account expenses and contract level expenses were included, expenses would be higher. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
|
| Strategy [Heading] |
rr_StrategyHeading |
Principal Investment Strategies |
|
| Strategy Narrative [Text Block] |
rr_StrategyNarrativeTextBlock |
The Account operates as a fund of funds and invests in underlying funds. In pursuing its investment objective, the Account typically allocates its assets, within predetermined percentage ranges, among the “underlying funds”: Funds of Principal Funds, Inc. ("PFI") (Institutional class shares) - the International Equity Index, MidCap S&P 400 Index, and SmallCap S&P 600 Index Funds - and Accounts of Principal Variable Contracts Funds, Inc. ("PVC") (Class 1 Shares) - the Bond Market Index and LargeCap S&P 500 Managed Volatility Index Accounts. The Account generally allocates approximately 65% of its assets to the equity index funds to gain broad market capitalization exposure to both U.S. and non-U.S investments and approximately 35% to the Bond Market Index Account for intermediate duration fixed-income exposure. The percentages reflect the extent to which the Account normally invests in the particular market segment represented by the underlying funds, and the asset allocation strategy influences the potential investment risk and reward of the Account. Without shareholder approval, Principal Management Corporation ("Principal"), the manager for PVC and PFI, may alter the percentage ranges and/or substitute or remove underlying funds (including investing in other investment companies) when it deems appropriate in order to achieve the Account's investment objective. The assets of the Account are allocated among underlying funds in accordance with its investment objective, while considering Principal's outlook for the economy, the financial markets, and the relative market valuations of the underlying funds. In selecting underlying funds and their target weights, Principal considers, among other things, quantitative measures, such as past performance, expected levels of risk and returns, expense levels, diversification of existing funds, and style consistency. The Account is re-balanced monthly. The net asset value of the Account's shares is affected by changes in the value of the shares of the underlying funds it owns. The Account's investments are invested in the underlying funds and, as a result, the Account's performance is directly related to their performance. The Account's ability to meet its investment objective depends on the ability of the underlying funds to achieve their investment objectives. The Account's underlying funds utilize derivative strategies. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index. Specifically, the underlying funds invest in equity index futures to manage the equity exposure and Treasury futures to manage the fixed-income exposure. An underlying fund also buys vertical call spreads and vertical put spreads as part of an active strategy intended to reduce volatility. Vertical spreads are the simultaneous purchase and sale of two options of the same type with the same expiration date but two different strike prices. The strike price is the fixed price at which the owner of the option can buy (in the case of a call), or sell (in the case of a put), the underlying security. |
|
| Risk [Heading] |
rr_RiskHeading |
Principal Risks |
|
| Risk Narrative [Text Block] |
rr_RiskNarrativeTextBlock |
The Account may be an appropriate investment for investors seeking the potential for a low to medium level of income and a medium to high level of capital growth, while exposing them to a medium to high level of principal risk. The diversification of the Account is designed to cushion losses in any one investment sector and moderate overall price volatility. However, the Account is subject to the particular risks of the underlying funds in the proportions in which the Account invests in them, and its share prices will fluctuate as the prices of underlying fund shares rise or fall with changing market conditions. If you sell your shares when their value is less than the price you paid, you will lose money. The Account operates as a fund of funds and thus bears both its own expenses and, indirectly, its proportionate share of the expenses of the underlying funds in which it invests. An investment in the Account is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks of investing in the Account that are inherent in the fund of funds, in alphabetical order, are: Asset Allocation Risk. A fund's selection and weighting of asset classes may cause it to underperform other funds with a similar investment objective. Conflict of Interest Risk. The Advisor and its affiliates earn different fees from different underlying funds and may have an incentive to allocate more fund-of-fund assets to underlying funds from which they receive higher fees. Investment Company Securities Risk. Fund shareholders bear indirectly their proportionate share of the expenses of other investment companies in which the fund invests. The principal risks of investing in the Account that are inherent in the underlying funds, in alphabetical order, are: Currency Risk. Risks of investing in securities denominated in, or that trade in, foreign (non-U.S.) currencies include changes in foreign exchange rates and foreign exchange restrictions. Derivatives Risk. Transactions in derivatives may increase volatility, cause the liquidation of portfolio positions when not advantageous to do so and produce disproportionate losses. Equity Securities Risk. The value of equity securities could decline if the issuer's financial condition declines or in response to overall market and economic conditions. A fund's principal market segment(s), such as large cap, mid cap or small cap stocks, or growth or value stocks, may underperform other market segments or the equity markets as a whole. Investments in smaller companies and mid-size companies may involve greater risk and price volatility than investments in larger, more mature companies. Exchange-Traded Funds ("ETFs") Risk. An ETF is subject to the risks associated with direct ownership of the securities comprising the index on which the ETF is based. Fund shareholders indirectly bear their proportionate share of the expenses of the ETFs in which the fund invests. Fixed-Income Securities Risk. Fixed-income securities are subject to interest rate risk and credit quality risk. The market value of fixed-income securities generally declines when interest rates rise, and an issuer of fixed-income securities could default on its payment obligations. Foreign Securities Risk. The risks of foreign securities include loss of value as a result of: political or economic instability; nationalization, expropriation or confiscatory taxation; settlement delays; and limited government regulation (including less stringent reporting, accounting, and disclosure standards than are required of U.S. companies). Index Fund Investment Risk. More likely than not, an index fund will underperform the index due to cashflows and the fees and expenses of the fund. Investment Company Securities Risk. Fund shareholders bear indirectly their proportionate share of the expenses of other investment companies in which the fund invests. Portfolio Duration Risk. Portfolio duration is a measure of the expected life of a fixed-income security and its sensitivity to changes in interest rates. The longer a fund's average portfolio duration, the more sensitive the fund will be to changes in interest rates. Prepayment Risk. Unscheduled prepayments on mortgage-backed and asset-backed securities may have to be reinvested at lower rates. A reduction in prepayments may increase the effective maturities of these securities, exposing them to the risk of decline in market value over time (extension risk). Real Estate Securities Risk. Real estate securities are subject to the risks associated with direct ownership of real estate, including declines in value, adverse economic conditions, increases in expenses, regulatory changes and environmental problems. Investing in securities of companies in the real estate industry, subjects a fund to the special risks associated with the real estate market including factors such as loss to casualty or condemnation, changes in real estate values, property taxes, interest rates, cash flow of underlying real estate assets, occupancy rates, government regulations affecting zoning, land use and rents, and the management skill and creditworthiness of the issuer. Risk of Being an Underlying Fund. A fund is subject to the risk of being an underlying fund to the extent that a fund of funds invests in the fund. An underlying fund of a fund of funds may experience relatively large redemptions or investments as the fund of funds periodically reallocates or rebalances its assets. These transactions may cause the underlying fund to sell portfolio securities to meet such redemptions, or to invest cash from such investments, at times it would not otherwise do so, and may as a result increase transaction costs and adversely affect underlying fund performance. U.S. Government Securities Risk. Yields available from U.S. government securities are generally lower than yields from many other fixed-income securities. U.S. Government Sponsored Securities Risk. Securities issued by U.S. government-sponsored or -chartered enterprises such as the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, and the Federal Home Loan Banks are not issued or guaranteed by the U.S. Treasury. Volatility Management Risk. Volatility management strategies may increase fund transaction costs, which could increase losses or reduce gains. These strategies may not protect the fund from market declines and may reduce the fund's participation in market gains. |
|
| Risk Lose Money [Text] |
rr_RiskLoseMoney |
If you sell your shares when their value is less than the price you paid, you will lose money. |
|
| Risk Not Insured Depository Institution [Text] |
rr_RiskNotInsuredDepositoryInstitution |
An investment in the Account is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
|
| Bar Chart and Performance Table [Heading] |
rr_BarChartAndPerformanceTableHeading |
Performance |
|
| Performance Narrative [Text Block] |
rr_PerformanceNarrativeTextBlock |
No performance is shown because the Account has not yet had a calendar year of performance. The Account's performance will be compared to the S&P 500 Index. |
|
| Performance One Year or Less [Text] |
rr_PerformanceOneYearOrLess |
No performance is shown because the Account has not yet had a calendar year of performance. |
|
|
PVC Contract Funds Prospectus | Diversified Growth Managed Volatility Account | Diversified Growth Managed Volatility Account, Class 2
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Management Fees (as a percentage of Assets) |
rr_ManagementFeesOverAssets |
0.05% |
|
| Distribution and Service (12b-1) Fees |
rr_DistributionAndService12b1FeesOverAssets |
0.25% |
|
| Other Expenses (as a percentage of Assets): |
rr_OtherExpensesOverAssets |
none
|
[1] |
| Acquired Fund Fees and Expenses |
rr_AcquiredFundFeesAndExpensesOverAssets |
0.36% |
|
| Expenses (as a percentage of Assets) |
rr_ExpensesOverAssets |
0.66% |
|
| Fee Waiver or Reimbursement |
rr_FeeWaiverOrReimbursementOverAssets |
none
|
[2] |
| Net Expenses (as a percentage of Assets) |
rr_NetExpensesOverAssets |
0.66% |
|
| Fee Waiver or Reimbursement over Assets, Date of Termination |
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination |
April 30, 2015 |
|
| Expense Example, with Redemption, 1 Year |
rr_ExpenseExampleYear01 |
67 |
|
| Expense Example, with Redemption, 3 Years |
rr_ExpenseExampleYear03 |
211 |
|
|
PVC Contract Funds Prospectus | LargeCap S&P 500 Managed Volatility Index Account
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Risk/Return [Heading] |
rr_RiskReturnHeading |
LARGECAP S&P 500 MANAGED VOLATILITY INDEX ACCOUNT |
|
| Objective [Heading] |
rr_ObjectiveHeading |
Objective: |
|
| Objective, Primary [Text Block] |
rr_ObjectivePrimaryTextBlock |
The Account seeks long-term growth of capital, with an emphasis on managing volatility. |
|
| Expense [Heading] |
rr_ExpenseHeading |
Fees and Expenses of the Account |
|
| Expense Narrative [Text Block] |
rr_ExpenseNarrativeTextBlock |
This table describes the fees and expenses that you may pay if you buy and hold shares of the Account. These fees and expenses do not reflect the fees and expenses of any variable insurance contract that may invest in the Account and would be higher if they did. |
|
| Portfolio Turnover [Heading] |
rr_PortfolioTurnoverHeading |
Portfolio Turnover |
|
| Portfolio Turnover [Text Block] |
rr_PortfolioTurnoverTextBlock |
The Account pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs. These costs, which are not reflected in annual Account operating expenses or in the example, affect the Account's performance. This is a new Account and does not yet have a portfolio turnover rate to disclose. |
|
| Expense Example [Heading] |
rr_ExpenseExampleHeading |
Example |
|
| Expense Example Narrative [Text Block] |
rr_ExpenseExampleNarrativeTextBlock |
This Example is intended to help you compare the cost of investing in the Account with the cost of investing in other mutual funds. |
|
| Expense Example by, Year, Caption [Text] |
rr_ExpenseExampleByYearCaption |
The Example assumes that you invest $10,000 in the Account for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Account's operating expenses remain the same. If separate account expenses and contract level expenses were included, expenses would be higher. Although your actual costs may be higher or lower, based on these assumptions your costs would be: |
|
| Strategy [Heading] |
rr_StrategyHeading |
Principal Investment Strategies |
|
| Strategy Narrative [Text Block] |
rr_StrategyNarrativeTextBlock |
Under normal circumstances, the Account invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that compose the S&P 500 Index at the time of each purchase. The Index is designed to represent U.S. equities with risk/return characteristics of the large cap universe. As of December 31, 2012, the market capitalization range of the Index was between approximately $1.6 billion and $499.7 billion. The Account uses derivative instruments. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index. In part, the Account employs a passive investment approach designed to attempt to track the performance of the Index. This portion of the Account also invests in index futures and exchange-traded funds ("ETFs") on a daily basis to gain exposure to the Index in an effort to minimize tracking error relative to the benchmark. The Account also employs an active volatility management strategy that buys vertical put spreads and vertical call spreads on the S&P 500 Index, S&P 500 Index futures, and an S&P 500 Index ETF. Vertical spreads are the simultaneous purchase and sale of two options of the same type with the same expiration date but two different strike prices. The strike price is the fixed price at which the owner of the option can buy (in the case of a call), or sell (in the case of a put), the underlying security. This strategy seeks to produce gains regardless of the directional movement of the S&P 500 Index and mitigate volatility. | | Note: | “Standard & Poor's 500" and "S&P 500®" are trademarks of The McGraw-Hill Companies, Inc. and have been licensed by Principal. The Account is not sponsored, endorsed, sold, or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the Account. |
|
|
| Risk [Heading] |
rr_RiskHeading |
Principal Risks |
|
| Risk Narrative [Text Block] |
rr_RiskNarrativeTextBlock |
The Account may be an appropriate investment for investors seeking long-term growth of capital, willing to accept fluctuations in the value of investments, and interested in a predominately passive management style with some active management designed to reduce volatility. The value of your investment in the Account changes with the value of the Account's investments. Many factors affect that value, and it is possible to lose money by investing in the Account. An investment in the Account is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The principal risks of investing in the Account, in alphabetical order, are: Derivatives Risk. Transactions in derivatives may increase volatility, cause the liquidation of portfolio positions when not advantageous to do so and produce disproportionate losses. Equity Securities Risk. The value of equity securities could decline if the issuer's financial condition declines or in response to overall market and economic conditions. A fund's principal market segment(s), such as large cap, mid cap or small cap stocks, or growth or value stocks, may underperform other market segments or the equity markets as a whole. Investments in smaller companies and mid-size companies may involve greater risk and price volatility than investments in larger, more mature companies. Exchange-Traded Funds ("ETFs") Risk. An ETF is subject to the risks associated with direct ownership of the securities comprising the index on which the ETF is based. Fund shareholders indirectly bear their proportionate share of the expenses of the ETFs in which the fund invests. Index Fund Investment Risk. More likely than not, an index fund will underperform the index due to cashflows and the fees and expenses of the fund. Risk of Being an Underlying Fund. A fund is subject to the risk of being an underlying fund to the extent that a fund of funds invests in the fund. An underlying fund of a fund of funds may experience relatively large redemptions or investments as the fund of funds periodically reallocates or rebalances its assets. These transactions may cause the underlying fund to sell portfolio securities to meet such redemptions, or to invest cash from such investments, at times it would not otherwise do so, and may as a result increase transaction costs and adversely affect underlying fund performance. Volatility Management Risk. Volatility management strategies may increase fund transaction costs, which could increase losses or reduce gains. These strategies may not protect the fund from market declines and may reduce the fund's participation in market gains. |
|
| Risk Lose Money [Text] |
rr_RiskLoseMoney |
Many factors affect that value, and it is possible to lose money by investing in the Account. |
|
| Risk Not Insured Depository Institution [Text] |
rr_RiskNotInsuredDepositoryInstitution |
An investment in the Account is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
|
| Bar Chart and Performance Table [Heading] |
rr_BarChartAndPerformanceTableHeading |
Performance |
|
| Performance Narrative [Text Block] |
rr_PerformanceNarrativeTextBlock |
No performance is shown because the Account has not yet had a calendar year of performance. The Account's performance will be compared to the S&P 500 Index. |
|
| Performance One Year or Less [Text] |
rr_PerformanceOneYearOrLess |
No performance is shown because the Account has not yet had a calendar year of performance. |
|
|
PVC Contract Funds Prospectus | LargeCap S&P 500 Managed Volatility Index Account | LargeCap S&P 500 Managed Volatility Index Account, Class 1
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Management Fees (as a percentage of Assets) |
rr_ManagementFeesOverAssets |
0.45% |
|
| Other Expenses (as a percentage of Assets): |
rr_OtherExpensesOverAssets |
0.04% |
[1] |
| Expenses (as a percentage of Assets) |
rr_ExpensesOverAssets |
0.49% |
|
| Fee Waiver or Reimbursement |
rr_FeeWaiverOrReimbursementOverAssets |
none
|
[3] |
| Net Expenses (as a percentage of Assets) |
rr_NetExpensesOverAssets |
0.49% |
|
| Fee Waiver or Reimbursement over Assets, Date of Termination |
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination |
April 30, 2015 |
|
| Expense Example, with Redemption, 1 Year |
rr_ExpenseExampleYear01 |
50 |
|
| Expense Example, with Redemption, 3 Years |
rr_ExpenseExampleYear03 |
$ 157 |
|
|
|
|