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 4/13/2021 unless otherwise stated


Benchmark

Nasdaq Developed Select Leaders Core NTR Index


Net Asset Value (NAV)

$30.60

Price

$30.64


Net Assets

$64,269,531.00

Median Bid-Ask Spread as of 4/13/2021

0.30%


NAV Per Share Ticker

PDEV.NV

Daily Volume

65588


Intraday NAV Ticker

PDEV.IV

Shares Outstanding

2,100,001


Shares Outstanding Ticker

PDEV.SO

30 Day SEC Yield as of 3/31/2021

2.01%


Estimated Cash Ticker

PDEV.EU

30 Day SEC Yield (Unsubsidized) as of 3/31/2021

2.01%


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 3/31/2021
  • Monthlyas of 3/31/2021
  • Quarterlyas of 3/31/2021
  • Calendar Yearas of 2020
Average Annual Total Returns 1 Month 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception*
Net Asset Value (NAV) Return 3.54 5.26 5.26 47.26 N/A N/A N/A 13.51
Market Price Return 4.07 5.75 5.75 48.93 N/A N/A N/A 13.69
Nasdaq Developed Select Leaders Core NTR Index 3.25 5.36 5.36 48.96 N/A N/A N/A 13.94
Morningstar Category
Foreign Large Blend
2.33 3.71 3.71 48.07 5.94 8.81 5.40 N/A
# of Funds in Category 785 782 782 751 654 563 370 75
Morningstar Percentile Rankings 13 21 21 52 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 3.54 5.26 5.26 47.26 N/A N/A N/A 13.51
Market Price Return 4.07 5.75 5.75 48.93 N/A N/A N/A 13.69
Nasdaq Developed Select Leaders Core NTR Index 3.25 5.36 5.36 48.96 N/A N/A N/A 13.94
Calendar Year Total Returns 2020 2019 2018 2017 2016
Net Asset Value (NAV) Return 9.67 N/A N/A N/A N/A
Market Price Return 9.27 N/A N/A N/A N/A
Nasdaq Developed Select Leaders Core NTR Index 10.08 N/A N/A N/A N/A
Foreign Large Blend 9.30 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 3/31/2021

 

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-Date4/1/2021 TypeIncome $ Per Share0.212143
Ex-Date12/29/2020 TypeIncome $ Per Share0.093347
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.


Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021
Days Traded At Premium Q1 202041 Q2 202039 Q3 202046 Q4 202047 Q1 202137
Days Traded At Discount Q1 202021 Q2 202024 Q3 202018 Q4 202017 Q1 202124

Inception: 7/23/2019

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 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 3/31/2021
Average Market Cap (mil): $33,433.51
Price/Earnings Ratio: 16.04
Price/Book Ratio: 1.61
Price/Cash Flow Ratio: 9.45
# Stock Holdings: 552
# Bond Holdings: 0
# Other Holdings: 10
# Total Holdings: 562
as of 3/31/2021
Investment Style
Large
Medium
Small
Interest-Rate Sensitivity
High
Medium
Low

as of 4/14/2021
Top 10 Holdings Total Market Value % of Net Assets
Top 10 HoldingsNESTLE SA REG COMMON STOCK CHF.1 Total Market Value997,027.97 % of Net Assets1.55%
Top 10 HoldingsROCHE HOLDING AG GENUSSCHEIN COMMON STOCK Total Market Value992,279.93 % of Net Assets1.54%
Top 10 HoldingsNOVARTIS AG REG COMMON STOCK CHF.5 Total Market Value766,983.06 % of Net Assets1.19%
Top 10 HoldingsASML HOLDING NV COMMON STOCK EUR.09 Total Market Value707,004.14 % of Net Assets1.10%
Top 10 HoldingsTOYOTA MOTOR CORP COMMON STOCK Total Market Value671,009.81 % of Net Assets1.04%
Top 10 HoldingsLVMH MOET HENNESSY LOUIS VUI COMMON STOCK EUR.3 Total Market Value590,885.65 % of Net Assets0.92%
Top 10 HoldingsNOVO NORDISK A/S B COMMON STOCK DKK.2 Total Market Value579,686.66 % of Net Assets0.90%
Top 10 HoldingsTOTAL SE COMMON STOCK EUR2.5 Total Market Value467,627.81 % of Net Assets0.73%
Top 10 HoldingsROYAL DUTCH SHELL PLC A SHS COMMON STOCK EUR.07 Total Market Value459,772.13 % of Net Assets0.72%
Top 10 HoldingsVOLKSWAGEN AG PREF PREFERENCE Total Market Value454,615.57 % of Net Assets0.71%

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 03/31/2021
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 Net0.57% Short0.00% Long0.57%
Asset TypeNon-U.S. Stocks Net98.80% Short0.00% Long98.80%
Asset TypePreferred Net0.00% Short0.00% Long0.00%
Asset TypeOther Net0.00% Short0.00% Long0.00%
Asset TypeCash Net0.63% Short0.00% Long0.63%
Asset TypeConvertibles Net0.00% Short0.00% Long0.00%
Total: 100.00%
as of 3/31/2021
Stock Sector Breakdown (% of Stocks)
% of stocks
Cyclical
39.24%
Basic Materials 6.54%
Consumer Cyclical 10.07%
Financial Services 19.71%
Real Estate 2.91%


Defensive
23.02%
Consumer Defensive 9.77%
Healthcare 10.35%
Utilities 2.90%


Sensitive
37.74%
Communication Services 8.03%
Energy 5.36%
Industrials 17.04%
Technology 7.30%


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.

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.

© 2021 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 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.