Principal

PDEV

Principal International Multi-Factor ETF


The investment seeks to provide investment results that closely correspond, before expenses, to the performance of the Nasdaq Developed Select Leaders Core 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 of companies in the Nasdaq Developed Market Ex-US Ex-Korea Large Mid Cap Index that exhibit potential for high degrees of value, quality growth and strong momentum.

Key features

Index aware design 1
Deviates from traditional cap-weighted indexes, applying a multifactor model and tiered evaluation process.


Rules-based framework
Tilts towards securities with high factor scores while diversifying through currency neutrality.


Multi-factor construction
Combines three distinct factors - shareholder yield, momentum, and quality growth.


Index aware is a measurement of the fund’s consistency versus a benchmark over a given period of time.

Index methodology**

Principal International Multi-Factor Core Index ETF Index Methodology

2 As defined by the Nasdaq Developed Market ex-US ex-Korea Large Mid Cap IndexSM.

Daily as of 10/23/2020 unless otherwise stated


Benchmark

Nasdaq Developed Select Leaders Core NTR Index


Net Asset Value (NAV)

$25.07

Price

$25.14


Net Assets

$55,148,061.56

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

0.37%


NAV Per Share Ticker

PDEV.NV


Shares Outstanding

2,200,001

Intraday NAV Ticker

PDEV.IV


30 Day SEC Yield as of 9/30/2020

2.56%

Shares Outstanding Ticker

PDEV.SO


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

2.56%

Estimated Cash Ticker

PDEV.EU


Distribution Yield as of 10/1/2020

1.54%

Total Cash Ticker

PDEV.TC


Investment Manager or Sub-advisor

Principal Global Investors, LLC

Portfolio Managers

Aaron Siebel since 3/3/2020

Jeffrey Schwarte since 7/23/2019

  • 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 -3.26 4.11 -6.02 1.57 N/A N/A N/A 0.71
Market Price Return -2.69 4.19 -5.80 1.41 N/A N/A N/A 1.07
Nasdaq Developed Select Leaders Core NTR Index -3.49 4.19 -5.89 1.86 N/A N/A N/A 0.99
Morningstar Category
Foreign Large Blend
-2.03 5.80 -5.73 2.19 0.41 5.19 4.34 N/A
# of Funds in Category 790 785 774 761 647 548 363 N/A
Morningstar Percentile Rankings 95 82 49 51 N/A 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 -3.26 4.11 -6.02 1.57 N/A N/A N/A 0.71
Market Price Return -2.69 4.19 -5.80 1.41 N/A N/A N/A 1.07
Nasdaq Developed Select Leaders Core NTR Index -3.49 4.19 -5.89 1.86 N/A N/A N/A 0.99
Calendar Year Total Returns 2019 2018 2017 2016 2015
Net Asset Value (NAV) Return N/A N/A N/A N/A N/A
Market Price Return N/A N/A N/A N/A N/A
Nasdaq Developed Select Leaders Core NTR Index N/A N/A N/A N/A N/A
Foreign Large Blend N/A N/A N/A N/A N/A

*Inception date: 7/23/2019

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-Date10/1/2020 TypeIncome $ Per Share0.094819
Ex-Date7/1/2020 TypeIncome $ Per Share0.146857
Ex-Date4/1/2020 TypeIncome $ Per Share0.133572
Ex-Date12/27/2019 TypeIncome $ Per Share0.125715
Ex-Date12/18/2019 TypeShort Term Capital Gain $ Per Share0.014599
Ex-Date10/1/2019 TypeIncome $ Per Share0.134857

Dividends are paid quarterly.


Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020
Days Traded At Premium Q3 201941 Q4 201959 Q1 202041 Q2 202039 Q3 202046
Days Traded At Discount Q3 20197 Q4 20195 Q1 202021 Q2 202024 Q3 202018

Inception: 7/23/2019

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 N/A
3 Year 5 Year


Inception Date: 7/23/2019



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

Fund Information

as of 9/30/2020
Average Market Cap (mil): $25,160.44
Price/Earnings Ratio: 16.06
Price/Book Ratio: 1.20
Price/Cash Flow Ratio: 4.68
# Stock Holdings: 595
# Bond Holdings: 0
# Other Holdings: 9
# Total Holdings: 604
as of 9/30/2020
Investment Style
Large
Medium
Small
Interest-Rate Sensitivity
High
Medium
Low

as of 10/23/2020
Top 10 Holdings Total Market Value % of Net Assets
Top 10 HoldingsNESTLE SA REG COMMON STOCK CHF.1 Total Market Value1,120,792.20 % of Net Assets2.05%
Top 10 HoldingsROCHE HOLDING AG GENUSSCHEIN COMMON STOCK Total Market Value994,600.76 % of Net Assets1.82%
Top 10 HoldingsNOVARTIS AG REG COMMON STOCK CHF.5 Total Market Value687,039.24 % of Net Assets1.26%
Top 10 HoldingsTOYOTA MOTOR CORP COMMON STOCK Total Market Value644,047.09 % of Net Assets1.18%
Top 10 HoldingsNOVO NORDISK A/S B COMMON STOCK DKK.2 Total Market Value501,550.02 % of Net Assets0.92%
Top 10 HoldingsROYAL BANK OF CANADA COMMON STOCK Total Market Value446,885.26 % of Net Assets0.82%
Top 10 HoldingsASML HOLDING NV COMMON STOCK EUR.09 Total Market Value441,147.25 % of Net Assets0.81%
Top 10 HoldingsLVMH MOET HENNESSY LOUIS VUI COMMON STOCK EUR.3 Total Market Value434,239.22 % of Net Assets0.79%
Top 10 HoldingsBHP GROUP LTD COMMON STOCK Total Market Value376,121.54 % of Net Assets0.69%
Top 10 HoldingsAIA GROUP LTD COMMON STOCK Total Market Value366,581.22 % of Net Assets0.67%

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 Net0.30% Short0.00% Long0.30%
Asset TypeNon-U.S. Stocks Net99.40% Short0.00% Long99.40%
Asset TypePreferred Net0.00% Short0.00% Long0.00%
Asset TypeOther Net0.00% Short0.00% Long0.00%
Asset TypeCash Net0.30% Short0.00% Long0.30%
Asset TypeConvertibles Net0.00% Short0.00% Long0.00%
Total: 100.00%
as of 9/30/2020
Stock Sector Breakdown (% of Stocks)
% of stocks
Cyclical
40.63%
Basic Materials 6.98%
Consumer Cyclical 12.17%
Financial Services 18.96%
Real Estate 2.52%


Defensive
24.71%
Consumer Defensive 10.57%
Healthcare 12.01%
Utilities 2.12%


Sensitive
34.66%
Communication Services 6.24%
Energy 4.33%
Industrials 17.96%
Technology 6.13%


Disclosures

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.

Index

The Principal International Multi-Factor ETF seeks to track the Nasdaq Developed Select Leaders Core IndexSM, a Nasdaq-licensed index based on the intellectual property of Principal. The index is designed to provide exposure to companies within the Nasdaq Developed Market ex-US ex-Korea Large Mid Cap IndexSM that exhibit high degrees of sustainable shareholder yield, pricing power, and strong momentum.

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.

Equity investment options involve greater risk, including heightened volatility, than fixed-income investment options. Mid-cap stocks may have additional risks, including greater price volatility. International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards. Equities considered to be growth or value stocks may not perform as expected. Stocks that previously exhibited high momentum characteristics may not experience positive momentum or may experience more volatility than the market as a whole.

Footnote

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

Effective September 30, 2020, the Principal International Multi-Factor Core Index ETF was renamed to the Principal International Multi-Factor ETF.