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

The investment seeks investment results that closely correspond, before expenses, to the performance of the Nasdaq US Small Cap Select Leaders Index. 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. The index uses a quantitative model designed to identify equity securities (including growth and value stock) of small-capitalization companies in the Nasdaq US Small Cap Index (the "parent index") that exhibit potential for high degrees of value, quality growth, and strong momentum, while adjusting for liquidity and volatility.

Key features

Active index design
Seeks long-term growth by exploiting value, quality, and momentum factor anomalies in small-cap stocks.

Rules-based framework
Helps diversify and reduce unintended risks, favoring more liquid, less volatile companies, while also mitigating sector concentration risks.

Small-cap exposure across market cycles
Combines multiple innovative factors that can help avoid fundamentally distressed small-cap companies to find long-term growth potential.

Index methodology**

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

*As defined by the Nasdaq US Small Cap Index.


Daily as of 10/23/2020 unless otherwise stated


Nasdaq US Small Cap Select Leaders 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 9/21/2016

  • 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 -4.85 2.84 -13.28 -7.06 -1.13 N/A N/A 4.09
Market Price Return -4.87 2.90 -13.30 -7.04 -1.12 N/A N/A 4.10
Nasdaq US Small Cap Select Leaders Index -4.76 2.96 -13.20 -6.81 -0.75 N/A N/A 4.50
Morningstar Category
Small Blend
-3.77 4.17 -13.32 -6.56 -0.86 5.68 8.66 N/A
# of Funds in Category 681 679 667 658 617 503 358 N/A
Morningstar Percentile Rankings 83 70 50 54 57 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 -4.85 2.84 -13.28 -7.06 -1.13 N/A N/A 4.09
Market Price Return -4.87 2.90 -13.30 -7.04 -1.12 N/A N/A 4.10
Nasdaq US Small Cap Select Leaders Index -4.76 2.96 -13.20 -6.81 -0.75 N/A N/A 4.50
Calendar Year Total Returns 2019 2018 2017 2016 2015
Net Asset Value (NAV) Return 18.87 -9.23 13.41 N/A N/A
Market Price Return 19.07 -9.35 13.44 N/A N/A
Nasdaq US Small Cap Select Leaders Index 19.48 -8.89 13.91 N/A N/A
Small Blend 23.75 -12.72 12.28 N/A N/A

*Inception date: 9/21/2016

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-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
Ex-Date10/1/2019 TypeIncome $ Per Share0.110521
Ex-Date7/1/2019 TypeIncome $ Per Share0.07547
Ex-Date4/1/2019 TypeIncome $ Per Share0.108658
Ex-Date12/27/2018 TypeIncome $ Per Share0.134874
Ex-Date10/1/2018 TypeIncome $ Per Share0.087371
Ex-Date7/2/2018 TypeIncome $ Per Share0.056572
Ex-Date4/2/2018 TypeIncome $ Per Share0.083439
Ex-Date12/27/2017 TypeIncome $ Per Share0.080629
Ex-Date12/15/2017 TypeShort Term Capital Gain $ Per Share0.015422

Dividends are paid quarterly.

Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020
Days Traded At Premium Q1 201920 Q2 201929 Q3 201945 Q4 201960 Q1 202045 Q2 202020 Q3 202042
Days Traded At Discount Q1 201940 Q2 201934 Q3 201918 Q4 20194 Q1 202017 Q2 202043 Q3 202021

Inception: 9/21/2016

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: 9/21/2016

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

Fund Information

as of 9/30/2020
Average Market Cap (mil): $1,704.34
Price/Earnings Ratio: 13.54
Price/Book Ratio: 1.18
Price/Cash Flow Ratio: 4.04
# Stock Holdings: 470
# Bond Holdings: 0
# Other Holdings: 2
# Total Holdings: 472
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 HoldingsSMILEDIRECTCLUB INC COMMON STOCK Total Market Value8,779,607.24 % of Net Assets1.28%
Top 10 HoldingsDICK S SPORTING GOODS INC COMMON STOCK USD.01 Total Market Value7,496,434.31 % of Net Assets1.09%
Top 10 HoldingsTOPBUILD CORP COMMON STOCK Total Market Value7,315,315.00 % of Net Assets1.07%
Top 10 HoldingsRYDER SYSTEM INC COMMON STOCK USD.5 Total Market Value6,555,062.70 % of Net Assets0.96%
Top 10 HoldingsTENET HEALTHCARE CORP COMMON STOCK USD.05 Total Market Value6,388,664.28 % of Net Assets0.93%
Top 10 HoldingsEVERCORE INC A COMMON STOCK USD.01 Total Market Value6,131,156.96 % of Net Assets0.89%
Top 10 HoldingsWESCO INTERNATIONAL INC COMMON STOCK USD.01 Total Market Value5,953,597.78 % of Net Assets0.87%
Top 10 HoldingsREALOGY HOLDINGS CORP COMMON STOCK USD.01 Total Market Value5,606,977.74 % of Net Assets0.82%
Top 10 HoldingsINDEPENDENT BANK GROUP INC COMMON STOCK USD.01 Total Market Value5,327,080.80 % of Net Assets0.78%
Top 10 HoldingsPACIRA BIOSCIENCES INC COMMON STOCK USD.001 Total Market Value5,313,473.16 % of Net Assets0.78%

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 Net99.08% Short0.00% Long99.08%
Asset TypeNon-U.S. Stocks Net0.66% Short0.00% Long0.66%
Asset TypePreferred Net0.00% Short0.00% Long0.00%
Asset TypeOther Net0.00% Short0.00% Long0.00%
Asset TypeCash Net0.26% Short0.00% Long0.26%
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 4.09%
Consumer Cyclical 16.30%
Financial Services 18.54%
Real Estate 4.95%

Consumer Defensive 2.68%
Healthcare 19.59%
Utilities 1.03%

Communication Services 4.10%
Energy 3.70%
Industrials 15.66%
Technology 9.35%


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 U.S. Small-Cap Multi-Factor ETF seeks to track the Nasdaq U.S. Small Cap Select Leaders IndexSM, a Nasdaq-licensed index based on Principal’s intellectual property. The Nasdaq U.S. Small Cap Select Leaders Index is designed to provide exposure to companies within the Nasdaq U.S. Small Cap Index that exhibit high degrees of sustainable shareholder yield, pricing power, and strong momentum.​


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.


**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 U.S. Small-Cap Multi-Factor Index ETF was renamed to the Principal U.S. Small-Cap Multi-Factor ETF.