Principal Healthcare Innovators Index ETF

The investment seeks to provide investment results that closely correspond, before expenses, to the performance of the Nasdaq Healthcare Innovators Index (the "index"). Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that compose the index at the time of purchase. The index uses a quantitative model designed to identify equity securities in the Nasdaq US Benchmark Index (including growth and value stock) that are small and medium capitalization U.S. healthcare companies.

Key features

High-growth potential
Seeks to tap into the increasing demand for healthcare solutions as demographic trends have driven healthcare spending to more than double in the last 20 years.1

Specialized healthcare solution 
Brings an efficient, systematic approach to identifying and selecting smaller healthcare companies that many investors neglect.

Early-stage access 
Invests in companies that are leading the charge toward innovative solutions, rather than spending money on marketing and distribution.

1 "How Has U.S. Spending on Healthcare Changed over Time?" Peterson-Kaiser Health System Tracker

Index methodology**

Principal Healthcare Innovators Index ETF Index Methodology

Daily as of 10/23/2020 unless otherwise stated


Nasdaq US Health Care Innovators Index

Net Asset Value (NAV)




Net Assets


Median Bid-Ask Spread as of 10/22/2020


NAV Per Share Ticker


Shares Outstanding


Intraday NAV Ticker


30 Day SEC Yield as of 9/30/2020


Shares Outstanding Ticker


30 Day SEC Yield (Unsubsidized) as of 9/30/2020


Estimated Cash Ticker


Distribution Yield as of 10/1/2020


Total Cash Ticker


Investment Manager or Sub-advisor

Principal Global Investors, LLC

Portfolio Managers

Aaron Siebel since 3/3/2020

Jeffrey Schwarte since 8/19/2016

  • Monthlyas of 9/30/2020
  • Monthlyas of 9/30/2020
  • Quarterlyas of 9/30/2020
  • Calendar Yearas of 2019
Average Annual Total Returns 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception*
Net Asset Value (NAV) Return 5.26 6.66 22.61 54.93 15.64 N/A N/A 16.81
Market Price Return 6.03 7.15 23.50 56.11 15.89 N/A N/A 17.01
Nasdaq US Health Care Innovators Index 5.26 6.69 22.80 55.34 16.07 N/A N/A 17.30
Morningstar Category
-0.07 4.95 11.22 31.92 11.33 10.93 15.44 N/A
# of Funds in Category 168 165 158 155 133 124 103 N/A
Morningstar Percentile Rankings 3 26 8 8 13 N/A 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 5.26 6.66 22.61 54.93 15.64 N/A N/A 16.81
Market Price Return 6.03 7.15 23.50 56.11 15.89 N/A N/A 17.01
Nasdaq US Health Care Innovators Index 5.26 6.69 22.80 55.34 16.07 N/A N/A 17.30
Calendar Year Total Returns 2019 2018 2017 2016 2015
Net Asset Value (NAV) Return 38.92 -11.20 36.31 N/A N/A
Market Price Return 39.08 -11.47 36.53 N/A N/A
Nasdaq US Health Care Innovators Index 39.58 -10.82 36.99 N/A N/A
Health 26.23 -0.40 24.31 N/A N/A

*Inception date: 8/19/2016

Some data is provided by Morningstar and is the most current information available. As of 9/30/2020


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.

Ex-Date Type $ Per Share
Ex-Date12/15/2017 TypeShort Term Capital Gain $ Per Share0.041551
Ex-Date12/15/2017 TypeLong Term Capital Gain $ Per Share0.009789

Dividends are paid quarterly.

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020
Days Traded At Premium Q1 201949 Q2 20199 Q3 201954 Q4 201922 Q1 202043 Q2 202027 Q3 202052
Days Traded At Discount Q1 201912 Q2 201954 Q3 201910 Q4 201942 Q1 202019 Q2 202036 Q3 202012

Inception: 8/19/2016

This information shows differences between the per share net asset value (NAV) of the Fund and the market trading price of shares. For these purposes, the market price 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. 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 9/30/2020
3 Year 5 Year
Information Ratio
Sharpe Ratio
Standard Deviation
Tracking Error

Inception Date: 8/19/2016

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

Fund Information

as of 9/30/2020
Average Market Cap (mil): $4,830.71
Price/Earnings Ratio: 17.91
Price/Book Ratio: 5.34
Price/Cash Flow Ratio: 9.83
# Stock Holdings: 202
# Bond Holdings: 0
# Other Holdings: 1
# Total Holdings: 203
as of 9/30/2020
Investment Style
Interest-Rate Sensitivity

as of 10/23/2020
Top 10 Holdings Total Market Value % of Net Assets
Top 10 HoldingsMODERNA INC COMMON STOCK USD.0001 Total Market Value5,238,192.96 % of Net Assets4.88%
Top 10 HoldingsSEAGEN INC COMMON STOCK USD.001 Total Market Value3,851,468.04 % of Net Assets3.59%
Top 10 HoldingsEXACT SCIENCES CORP COMMON STOCK USD.01 Total Market Value3,611,396.07 % of Net Assets3.36%
Top 10 HoldingsTELADOC HEALTH INC COMMON STOCK USD.001 Total Market Value3,068,847.60 % of Net Assets2.86%
Top 10 HoldingsNOVOCURE LTD COMMON STOCK Total Market Value2,845,785.36 % of Net Assets2.65%
Top 10 HoldingsALNYLAM PHARMACEUTICALS INC COMMON STOCK USD.01 Total Market Value2,732,602.10 % of Net Assets2.54%
Top 10 HoldingsSAREPTA THERAPEUTICS INC COMMON STOCK USD.0001 Total Market Value2,362,029.80 % of Net Assets2.20%
Top 10 HoldingsMYOKARDIA INC COMMON STOCK USD.0001 Total Market Value2,360,903.92 % of Net Assets2.20%
Top 10 HoldingsGUARDANT HEALTH INC COMMON STOCK USD.00001 Total Market Value2,217,077.10 % of Net Assets2.06%
Top 10 HoldingsBIOMARIN PHARMACEUTICAL INC COMMON STOCK USD.001 Total Market Value2,075,124.87 % of Net Assets1.93%

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 09/30/2020
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 Net98.38% Short0.00% Long98.38%
Asset TypeNon-U.S. Stocks Net1.43% Short0.00% Long1.43%
Asset TypePreferred Net0.00% Short0.00% Long0.00%
Asset TypeOther Net0.00% Short0.00% Long0.00%
Asset TypeCash Net0.19% Short0.00% Long0.19%
Asset TypeConvertibles Net0.00% Short0.00% Long0.00%
Total: 100.00%
as of 9/30/2020
Stock Sector Breakdown (% of Stocks)
% of stocks
Basic Materials 0.06%
Consumer Cyclical 0.00%
Financial Services 0.00%
Real Estate 0.00%

Consumer Defensive 0.00%
Healthcare 99.94%
Utilities 0.00%

Communication Services 0.00%
Energy 0.00%
Industrials 0.00%
Technology 0.00%


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.

The market price used to calculate the Market Price Return is 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. 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.

© 2020 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-incomeperformance: 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.


The Principal Healthcare Innovators Index ETF seeks to track the Nasdaq U.S. Healthcare Innovators Index, a Nasdaq-licensed index based on Principal’s intellectual property. The Nasdaq U.S. Healthcare Innovators Index is designed to provide exposure to U.S. companies that are early stage healthcare companies.


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.

Equity investments involve greater risk, including higher volatility, than fixed-income investment options.

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

Investments concentrated in the healthcare industry may be adversely impacted by sector specific market shocks, unforeseen rate controls or regulations, higher than expected costs, or inability to bring new products to market.


**During extraordinary market conditions, the index provider may delay the scheduled rebalancing of the index until a future date when conditions have changed.