Principal

PSC

Principal U.S. Small-Cap Multi-Factor ETF


The investment seeks long-term growth of capital. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of U.S. companies with small market capitalizations at the time of purchase. For this fund, companies with small market capitalizations are those with market capitalizations within the range of companies comprising the Russell 2000 Index.

Combines multiple factors for diversification benefits and long-term growth

Selects stocks with attractive quality, momentum, and value factor exposures that have historically been strong drivers of returns.

Portfolio selection and construction process helps avoid fundamentally distressed small-cap companies.

Active, rules-based framework helps ensure a consistent approach is implemented through different market cycles.

Active, rules-based framework

PSC index methodology

The Russell 2000® Index measures the performance of the 2,000 smallest companies in the Russell 3000® Index. Investors cannot invest directly in an index

Daily as of 10/4/2022 unless otherwise stated


Benchmark

Russell 2000® Index


Net Asset Value (NAV)

$38.81

Price

$38.73


Net Assets

$229,004,068.81

Median Bid-Ask Spread as of 10/4/2022

0.18%


NAV Per Share Ticker

PSC.NV


Intraday NAV Ticker

PSC.IV

Shares Outstanding

5,900,001


Shares Outstanding Ticker

PSC.SO

30 Day SEC Yield as of 9/30/2022

1.65%


Estimated Cash Ticker

PSC.EU

30 Day SEC Yield (Unsubsidized) as of 9/30/2022

1.65%


Total Cash Ticker

PSC.TC


Investment Manager or Sub-advisor

Principal Global Investors, LLC

Portfolio Managers

Aaron Siebel since 3/3/2020

Jeffrey Schwarte since 9/21/2016

  • Monthlyas of 9/30/2022
  • Monthlyas of 9/30/2022
  • Quarterlyas of 9/30/2022
  • Calendar Yearas of 2021
Average Annual Total Returns 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception*
Net Asset Value (NAV) Return -8.80 -2.76 -21.93 -17.81 7.90 5.49 N/A 7.98
Market Price Return -8.91 -2.86 -21.98 -17.96 7.87 5.47 N/A 7.97
Russell 2000® Index -9.58 -2.19 -25.10 -23.50 4.28 3.55 N/A 6.32
Morningstar Category
Small Blend
-9.33 -4.03 -23.31 -18.95 4.74 3.74 8.42 N/A
# of Funds in Category 614 614 609 607 578 536 356 34
Morningstar Percentile Rankings N/A N/A N/A 36 11 14 N/A N/A
Average Annual Total Returns 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception*
Net Asset Value (NAV) Return -8.80 -2.76 -21.93 -17.81 7.90 5.49 N/A 7.98
Market Price Return -8.91 -2.86 -21.98 -17.96 7.87 5.47 N/A 7.97
Russell 2000® Index -9.58 -2.19 -25.10 -23.50 4.28 3.55 N/A 6.32
Calendar Year Total Returns 2021 2020 2019 2018 2017
Net Asset Value (NAV) Return 32.32 13.45 18.87 -9.23 13.41
Market Price Return 32.38 13.37 19.07 -9.35 13.44
Russell 2000® Index 14.82 19.96 25.52 -11.01 14.65
Morningstar Category
Small Blend
24.19 10.99 23.75 -12.72 12.28

*Inception date: 9/21/2016

Some data is provided by Morningstar and is the most current information available. As of 10/4/2022

 

Morningstar percentile rankings are based on total returns. 


Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed, may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.

as of 9/30/2022
Rating # of Funds
3 Year Rating
# of Funds578
5 Year Rating
# of Funds536
Overall Rating
# of Funds578

Morningstar Category: Small Blend

Ratings reflect risk adjusted performance.

Ex-Date Type $ Per Share
Ex-Date10/3/2022 TypeIncome $ Per Share0.356594
Ex-Date7/1/2022 TypeIncome $ Per Share0.172821
Ex-Date4/1/2022 TypeIncome $ Per Share0.021418
Ex-Date12/29/2021 TypeIncome $ Per Share0.296331
Ex-Date10/1/2021 TypeIncome $ Per Share0.146842
Ex-Date7/1/2021 TypeIncome $ Per Share0.13132
Ex-Date4/1/2021 TypeIncome $ Per Share0.114961
Ex-Date12/29/2020 TypeIncome $ Per Share0.148679
Ex-Date10/1/2020 TypeIncome $ Per Share0.113254
Ex-Date7/1/2020 TypeIncome $ Per Share0.112692
Ex-Date4/1/2020 TypeIncome $ Per Share0.078263
Ex-Date12/27/2019 TypeIncome $ Per Share0.149877

Dividends are paid quarterly.


Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022
Days Traded At Premium Q1 202130 Q2 202125 Q3 202131 Q4 202124 Q1 202229 Q2 202238 Q3 202231
Days Traded At Discount Q1 202131 Q2 202138 Q3 202133 Q4 202140 Q1 202233 Q2 202224 Q3 202233

Inception: 9/21/2016

This information shows differences between the per share net asset value (NAV) of the Fund and the market price of shares. For premiums and discounts reflected for dates prior to 11/02/2020, the market price utilized is the midpoint of the highest bid and lowest offer for Fund shares as of close of trading on the exchange where Fund shares are listed. For premiums and discounts reflected for dates beginning on 11/02/2020, the market price utilized is the official closing price of the Fund shares, or if it more accurately reflects the market value of the Fund shares at the time as of which the Fund share’s NAV is calculated, the price that is the midpoint between the national best bid and national best offer as of that time. Timing discrepancies may exist between NAV and closing price. Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices.


as of 9/30/2022
3 Year 5 Year
Alpha
3.52
1.88
Beta
1.03
1.02
Information Ratio
0.66
0.44
Mean
--
--
R-Squared
0.96
0.97
Sharpe Ratio
0.28
0.19
Standard Deviation
26.32
23.50
Tracking Error
5.48
4.42


Inception Date: 9/21/2016



Risk and return statistical data is calculated by Principal Global Investors.

Fund Information

as of 10/4/2022
Average Market Cap (mil): $2,207.92
Price/Earnings Ratio: 8.97
Price/Book Ratio: 1.49
Price/Cash Flow Ratio: 3.87
# Stock Holdings: 586
# Bond Holdings: 0
# Other Holdings: 1
# Total Holdings: 587
as of 10/4/2022
Investment Style
Large
Medium
Small
Interest-Rate Sensitivity
High
Medium
Low

as of 10/5/2022
Top 10 Holdings Total Market Value % of Net Assets
Top 10 HoldingsH+R BLOCK INC COMMON STOCK Total Market Value2,474,934.55 % of Net Assets1.08%
Top 10 HoldingsATLAS AIR WORLDWIDE HOLDINGS COMMON STOCK USD.01 Total Market Value2,094,135.63 % of Net Assets0.91%
Top 10 HoldingsACADEMY SPORTS + OUTDOORS IN COMMON STOCK USD.01 Total Market Value1,842,240.00 % of Net Assets0.80%
Top 10 HoldingsHOSTESS BRANDS INC COMMON STOCK USD.0001 Total Market Value1,787,856.68 % of Net Assets0.78%
Top 10 HoldingsRADIAN GROUP INC COMMON STOCK USD.001 Total Market Value1,727,726.84 % of Net Assets0.75%
Top 10 HoldingsMSC INDUSTRIAL DIRECT CO A COMMON STOCK USD.001 Total Market Value1,661,804.70 % of Net Assets0.73%
Top 10 HoldingsCVB FINANCIAL CORP COMMON STOCK Total Market Value1,656,003.15 % of Net Assets0.72%
Top 10 HoldingsRYDER SYSTEM INC COMMON STOCK USD.5 Total Market Value1,534,597.65 % of Net Assets0.67%
Top 10 HoldingsSCIENCE APPLICATIONS INTE COMMON STOCK USD.0001 Total Market Value1,530,569.61 % of Net Assets0.67%
Top 10 HoldingsSM ENERGY CO COMMON STOCK USD.01 Total Market Value1,510,097.25 % of Net Assets0.66%

Includes, but is not limited to, unsettled activity from creation/redemption transactions and portfolio security trades and accrued interest. Values may exceed 100% if both long and short positions are included in the portfolio.

as of 10/04/2022
Asset Type Net Short Long
Asset TypeU.S. Bonds Net0.00% Short0.00% Long0.00%
Asset TypeNon-U.S. Bonds Net0.00% Short0.00% Long0.00%
Asset TypeU.S. Stocks Net98.66% Short0.00% Long98.66%
Asset TypeNon-U.S. Stocks Net1.13% Short0.00% Long1.13%
Asset TypePreferred Net0.00% Short0.00% Long0.00%
Asset TypeOther Net0.00% Short0.00% Long0.00%
Asset TypeCash Net0.21% Short0.00% Long0.21%
Asset TypeConvertibles Net0.00% Short0.00% Long0.00%
Total: 100.00%
as of 10/4/2022
Stock Sector Breakdown (% of Stocks)
% of stocks
Cyclical
40.40%
Basic Materials 3.67%
Consumer Cyclical 12.64%
Financial Services 17.42%
Real Estate 6.67%


Defensive
24.18%
Consumer Defensive 3.80%
Healthcare 17.33%
Utilities 3.05%


Sensitive
35.42%
Communication Services 1.94%
Energy 6.55%
Industrials 14.29%
Technology 12.65%


Disclosures

Effective July 8, 2022, the benchmark changed from the Nasdaq US Small Cap Select Leaders Index to the Russell 2000 Index.

Holding, portfolio and sector allocations are subject to change.

Returns shown for periods of less than one year are not annualized.

Investor shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Ordinary brokerage commissions apply.

Prior to 11/02/2020, the market price used to disclose the daily price and calculate daily premiums and discounts was the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated. Beginning on 11/02/2020, the market price used to disclose the daily price and calculate daily premiums and discounts is the official closing price of the Fund, or if it more accurately reflects the market value of the Fund share at the time as of which the Fund’s NAV is calculated, the price that is the midpoint between the national best bid and national best offer as of that time. For the purpose of calculating Market Price Return, a market price prior to 02/01/2021 is defined as the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated while a market price on or after 02/01/2021 is defined as the official close price as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.

Where gross and net expense ratios differ, the investment adviser has contractually agreed to limit the investment option's expenses. Differences also may be due to the investment adviser's decision to waive (through the same dates) certain expenses that would normally be payable by the fund. The net expense figure reflects the impact of any limits or waivers. Returns displayed are based on net total investment expense.

Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns, and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted.

Investors should carefully consider a fund’s investment objectives, risks, charges, and expenses prior to investing.

© 2022 Morningstar, Inc. All Rights Reserved. Part of the data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

The Morningstar Style Box is a nine-square grid that provides a graphical representation of the "investment style" of a fund. The Equity style box classifies securities by size along the vertical axis and by value and growth characteristics along the horizontal axis. The model for the fixed-income style box is based on the two pillars of fixed-income performance: interest-rate sensitivity and credit quality. The three interest sensitivity groups are limited, moderate and extensive and the three credit quality groups are high, medium and low. These groupings display a portfolio’s effective duration and third party credit ratings to provide an overall representation of the fund’s risk orientation given the sensitivity to interest rate and credit rating of bonds in the portfolio.

The Morningstar RatingTM for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar ratings do not reflect the inclusion of sales charges. If sales charges were reflected, ratings could be lower.

Index

The Russell 2000 Index measures the performance of the 2,000 smallest companies in the Russell 3000 Index.

Risks

Asset allocation and diversification do not ensure a profit or protect against a loss. Investing in ETFs involves risk, including possible loss of principal. ETFs are subject to risk similar to those of stocks, including those regarding short-selling and margin account maintenance.

Small-cap stocks may have additional risks including greater price volatility.

Footnote

Effective September 30, 2020, the Principal U.S. Small-Cap Multi-Factor Index ETF was renamed to the Principal U.S. Small-Cap Multi-Factor ETF.