Principal Value ETF

Highlights

Targets growth of income by investing in companies that grow dividends, increase cash flows, and engage in buybacks over time

  • Invests primarily in dividend-paying stocks with the financial flexibility to grow dividends and engage in share buybacks over time.
  • Driven by companies with strong cash flow generation and prudent payout policies.
  • Active, rules-based framework helps ensure a consistent approach is implemented through different market cycles.

Fund details

as of 11/20/2024 unless indicated otherwise
Fund ticker
PY
Benchmark
S&P 500 Index
NAV
$50.97
NAV change
$0.09
Premium/Discount to NAV
-0.02%
Median bid ask spread
as of 11/20/2024
0.08%
Price
$50.96
Price change
$0.09
Daily volume
7,161
Total fund assets
$77.9M
Shares outstanding
1,530,001
Dividend frequency
Quarterly
Inception date
03/21/2016
Morningstar category
Large Value
Investment approach
The investment seeks long-term growth of capital. Under normal circumstances, the fund primarily invests in equity securities, focusing on value stocks. For security selection and portfolio construction, Principal Global Investors, LLC ("PGI") uses a proprietary quantitative model designed to identify equity securities of mid- to large-capitalization companies in the S&P 500 Index that exhibit higher degrees of shareholder yield (meaning how much money a company distributes to shareholders through dividends and share repurchases).

Performance & expenses

As of 10/31/2024
Name 1 month 3 month YTD 1-year 3-year 5-year 10-year Since inception Overall
Net Asset Value (NAV) Return -1.74% 2.32% 14.75% 32.90% 7.25% 11.72% — 10.97% —
Market Price Return -1.66% 2.33% 14.95% 33.20% 7.32% 11.72% — 11.01% —
Benchmark performance
S&P 500 Index
 -0.91% 3.66% 20.97% 38.02% 9.08% 15.25% — — —
Morningstar category average
Large Value
 -0.94% 2.49% 14.80% 29.70% 7.47% 10.72% 9.01% — —
Morningstar percentile rankings — — — 23 58 30 — — —
# of funds in category 1,189 1,185 1,174 1,168 1,084 1,022 796 — 1,084
Morningstar rating — — — — — —
30 Day SEC yield
Unsubsidized as of 10/31/2024
2.11%
30 Day SEC yield
Subsidized as of 10/31/2024
2.11%
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
Returns shown for periods of less than one year are not annualized.
Index performance information: no deductions for fees, expenses or taxes. Indices are unmanaged and individuals cannot invest directly in an index.
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.
Prior to June 24, 2022, the objective and strategy of Fund differed from its current objective and strategy. Accordingly, performance of the Fund for periods prior to that date may not be representative of the performance the Fund would have achieved had the Fund been following its current objective and strategy.
Premium / Discount to NAV
as of 09/30/2024
As of 09/30/2024
Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024
Days traded at premium 33 33 45 16 13 33 43
Days traded at discount 29 29 18 47 48 30 21
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.

Ratings

Morningstar Ratings

as of 10/31/2024
3-year
1,084 funds
5-year
1,022 funds
Overall
1,084 funds
3 year | 1,084 funds
5 year | 1,022 funds
Overall | 1,084 funds

Holdings

Top 10

as of 11/21/2024
% of Assets
% of Assets
1. APPLE INC COMMON STOCK USD.00001
3.84%
2. MICROSOFT CORP COMMON STOCK USD.00000625
3.41%
3. NVIDIA CORP COMMON STOCK USD.001
3.37%
4. BROADCOM INC COMMON STOCK
2.25%
5. EXXON MOBIL CORP COMMON STOCK
1.82%
6. HOME DEPOT INC COMMON STOCK USD.05
1.56%
7. WELLS FARGO + CO COMMON STOCK USD1.666
1.45%
8. CHEVRON CORP COMMON STOCK USD.75
1.35%
9. MORGAN STANLEY COMMON STOCK USD.01
1.26%
10. ACCENTURE PLC CL A COMMON STOCK USD.0000225
1.17%
Portfolio Holdings
Basket
The holdings listed do not constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list.
May not reflect current holdings or allocations.
Includes, but is not limited to, unsettled activity from creation/redemption transactions and portfolio security trades and accrued interest.

Portfolio characteristics

# of holdings
as of 10/31/2024
105
Active share
as of 10/31/2024
74.48%
Turnover ratio
as of 06/30/2024
49.80%
Weighted avg mark cap
as of 10/31/2024
434,244.83
May not reflect current holdings or allocations.

Portfolio management

Christopher Ibach, CFA
30 years of experience
Kyle Johnson, CFA
10 years of experience
Aaron Siebel, CFA
19 years of experience

Literature

Investment materials

Portfolio holdings

Disclosures
Principal Funds are distributed by Principal Funds Distributor, Inc. ALPS Distributors, Inc. is the distributor of the Principal ETFs. ALPS Distributors, Inc. and the Principal Funds are not affiliated.
Equity investments involve greater risk, including heightened volatility, than fixed-income investments. Mid-cap stocks may have additional risks, including greater price volatility.
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. Investor shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Ordinary brokerage commissions apply.
The holdings listed do not constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list.
NOT FDIC INSURED - MAY LOSE VALUE - NO BANK GUARANTEE
Morningstar percentile rankings are based on total returns and do not reflect the inclusion of sales charges. If sales charges were reflected, rankings could be lower.
Performance assumes reinvestment of all dividends and capital gains.
Includes, but is not limited to, unsettled activity from creation/redemption transactions and portfolio security trades and accrued interest.
To obtain a prospectus, download or call Customer Service at 1.800.222.5852. Carefully consider a fund’s objectives, risks, charges, and expenses. The prospectus, or summary prospectus if available, contains this and other information. Please read it carefully before investing.
S&P 500 Equal Weighted USD Total Return Index
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The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please go to https://shareholders.morningstar.com/investor-relations/governance/Compliance--Disclosure/default.aspx.
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