PSET
Principal Quality ETF
The Principal Price Setters Index ETF tracks an index of large-cap US firms with a high degree of pricing power. Holdings are selected by several fundamental and technical factors, and weighted equally within three tiers.
US
EQUITY
Active
MANAGEMENT STYLE
15 bp
EXPENSES
$51.8 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | The Principal Financial Group |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 21, 2016 |
| Assets (mns) | $52 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Multi-Factor |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MICROSOFT CORP | 8.5 % |
| APPLE INC | 5.2 % |
| NVIDIA CORP | 5.2 % |
| BROADCOM INC. | 3.1 % |
| AMAZON.COM INC | 2.2 % |
| ALPHABET INC. CLASS C | 2.0 % |
| QUALCOMM INC | 1.8 % |
| NETFLIX INC | 1.8 % |
| APPLIED MATERIALS INC | 1.6 % |
| THERMO FISHER SCIENTIFIC INC | 1.5 % |
Constituent Breakdown
| Number of holdings | 74 |
| Herfindahl-Hirschman Index | 228 |
| Wgt avg mkt cap (mns) | $690,741 |
| Large cap (>$10bn) | 100.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 92.9 % |
 |
IRELAND | 5.7 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 9.0% | 19.2% | 19.5% | 9.0% | 13.5% | -- | 13.7% | Volatility | 14.0% | 13.4% | 17.4% | 17.2% | 21.2% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.05 | 95% |
| MSCI EAFE | 0.96 | 73% |
| MSCI Emg Mkts | 0.65 | 35% |
Liquidity Measures
| Avg. volume (000) | 2 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.22% |
| ADV of underlying (mns) | $170,220 |
Technical Indicators
| Recent close | $66.35 |
| 30d moving avg. | $68.87 |
| Annualized volatility | 19.5% |
| Relative strength (RSI) | 59 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 1.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. PSET |
Expenses vs. PSET |
ALTAR Score™ vs. PSET |
|---|---|---|---|---|
| IGM | iShares Expanded Tech Sector ETF | 42.0% | +26 bp | -0.9% |
| FLQL | Franklin LibertyQ U.S. Equity ETF | 41.4% | 0 bp | +0.4% |
| PALC | Pacer Lunt Large Cap Multi-Factor Alternator ETF | 40.1% | +45 bp | -1.2% |
| QQMG | Invesco ESG NASDAQ 100 ETF | 39.9% | +5 bp | -0.6% |
| SPMO | Invesco S&P 500 Momentum ETF | 39.8% | -2 bp | -1.6% |
| EGUS | iShares ESG Aware MSCI USA Growth ETF | 39.0% | +3 bp | -0.9% |
| JGRO | JPMorgan Active Growth ETF | 38.8% | +29 bp | -1.8% |
| IETC | iShares U.S. Tech Independence Focused ETF | 38.7% | +3 bp | -0.8% |
| IVW | iShares S&P 500 Growth ETF | 38.6% | +3 bp | -0.8% |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | 38.6% | -11 bp | -0.7% |
Risk and Returns: PSET vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
PSET
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
PSET
5.5%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 5.5% |
Recommendation
NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. PSET's ALTAR Score™ is approximately
0.1 standard deviations
below
the category average. This places PSET in the 46th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
PSET
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| PSET (15 bp) Percentile rank | 8 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PSET | 15.0 | 22.2 | 37.2 |
| Peer Avg. | 53.9 | 22.2 | 76.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .