Form N-1A Supplement

Mar. 01, 2026

Global Emerging Markets Fund

Prospectus [Line Items]

Supplement to Prospectus [Text Block]

Principal Funds, Inc.

Supplement dated March 16, 2026

to the Prospectus and Statement of Additional Information

dated March 1, 2026

This supplement updates information contained in the Prospectus and Statement of Additional Information. Please retain this supplement for future reference.

The changes described below are being made to the Prospectus.

SUMMARY FOR GLOBAL EMERGING MARKETS FUND

On March 10, 2026, the Fund’s Board of Directors approved a change to the Fund’s diversification classification from “diversified” to “non-diversified” and a change to the related fundamental investment restriction (together, the “Proposed Change”). Fund shareholders of record on April 13, 2026, are entitled to vote on the Proposed Change at a Special Meeting of Shareholders of the Fund tentatively scheduled for June 25, 2026. Additional information about the Proposed Change will be provided in the Proxy Statement that is expected to be sent to record date Fund shareholders on or about April 20, 2026. The Proposed Change, if approved by Fund shareholders, is expected to be effective on or about July 1, 2026. However, the Fund’s officers have the discretion to change these dates.