PRINCIPAL STREET MUNICIPAL BOND FUNDS
Fund Total Returns, Expense Ratio, Benchmark Returns, as of 9/30/22
| Fund | Share Class (TICKER) | 3M | YTD | 1Y | 3Y | 5Y | Since Inception1 | Exp. Ratio (Gross/Net)2 |
|---|---|---|---|---|---|---|---|---|
| Principal Street High Income Municipal Fund | Institutional (GSTAX) |
3.33% | 14.92% | 14.30% | 5.22% | 0.14% | 1.38% | 0.78% / 0.73% |
| Investor (GSTEX) |
3.31% | 15.16% | 14.65% | n/a | n/a | -2.03% | 1.28% / 1.24% | |
| A-share (GSTFX) @NAV |
3.28% | n/a | n/a | n/a | n/a | -12.61% | 1.03% / 0.99% | |
| A-Share (GSTFX) @MOP |
5.48% | n/a | n/a | n/a | n/a | -14.56% | 1.03% / 0.99% | |
| Principal Street Short Term Municipal Fund | Institutional (PSTYX) |
1.28% | n/a | n/a | n/a | n/a | -0.66% | 1.17% / 0.70% |
| Investor (PSTEX) | 1.57% | n/a | n/a | n/a | n/a | -1.00% | 1.42% / 0.95% | |
| Bloomberg High Yield Municipal Index | 4.83% | 16.03% | 15.05% | 1.43% | 2.31% | 2.21% | Â | |
| Bloomberg 3Y (2-4) Municipal Index | 1.98% | n/a | n/a | n/a | n/a | -0.98% | Â | |
1For Principal Street High Income Municipal Fund, inception date for Institutional class is 9/15/17, for Investor class is 3/23/20, and for A-share is 2/14/22. For Principal Street Short Term Municipal Fund, inception date for both Institutional and Investor share classes is 4/27/22.
2The contractual Operating Expenses Limitation Agreement is indefinite but cannot be terminated through at least December 29, 2022 for Principal Street High Income Municipal Fund, and April 27, 2023 for Principal Street Short Term Municipal Fund. Performance would have been lower without limitations in effect. The net expense ratio is applicable to investors.
Returns for periods less than one year are cumulative.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost, and current performance may be lower or higher than the performance quoted. Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. For performance current to the most-recent month end please visit: www.principalstreetfunds.com.
Must be preceded or accompanied by a current prospectus.
Principal Street Partners is the Investment Adviser to the Principal Street High Income Municipal Fund, which is distributed by Quasar Distributors, LLC.
Bloomberg High Yield Municipal Bond Index: The US Municipal Index covers the high yield portion of the USD-denominated long-term tax exempt bond market. The index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds, and pre-refunded bonds.
Bloomberg 3 Year (2-4) Municipal Bond Index: The Bloomberg 3 Year (2-4) Municipal Bond Index is a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. The Index has four main sectors: general obligation bonds, revenue bonds, insured bonds (including all insured bonds with a Aaa/AAA rating), and pre-refunded bonds. Most of the index has historical data to January 1980. In addition, subindices have been created based on maturity, state, sector, quality, and revenue source, with inception dates later than January 1980. The index used herein is the 3 Year (2-4) component of the Municipal Bond Index.
The above indices are not directly investable, and their performance does not represent the investment return of any investment vehicle.
Fund Distribution Yields, SEC Yields, as of 9/30/22
| Fund | Share Class (TICKER) | Distribution Yield | 30-Day SEC Yield (subsidized/unsubsidized)³ |
|---|---|---|---|
| Principal Street High Income Municipal Fund | Institutional (GSTAX) | 6.28% | 6.51% / 6.47% |
| Investor (GSTEX) | 5.68% | 5.98% / 5.94% | |
| A-share (GSTFX) @NAV | 6.02% | 6.21% / 6.17% | |
| A-Share (GSTFX) @MOP | 5.88% | 6.10% / 6.06% | |
| Principal Street Short Term Municipal Fund | Institutional (PSTYX) | 2.41% | 2.79% / 1.90% |
| Investor (PSTEX) | 2.16% | 2.51% / 1.57% |
Distribution Yield is the latest monthly dividend rate times 12 divided by the latest month-end NAV.
3The 30-day SEC yield is based on the hypothetical annualized earning power (investment income only) of the Fund’s portfolio securities during the period indicated. Subsidized yields reflect fee waivers in effect. Without such waivers, yields would be reduced. Unsubsidized yields do not reflect fee waivers in effect.