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

$53.7 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorThe Principal Financial Group
CategoryUS
Asset classEquity
Websitelink...
Inception dateMar 21, 2016
Assets (mns)$54
Expense ratio15 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-End Investment Company
DistributionsQuarterly
Taxation1099
Stock selectionMulti-Factor
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableNo
Currency hedgedNo
Fund of fundsNo
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 holdings74
Herfindahl-Hirschman Index 225
Wgt avg mkt cap (mns)$732,415
Large cap (>$10bn)99.4%
Mid cap ($2-10bn)0.5%
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 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns 5.1% 23.5% 13.2% 8.6% 13.9% -- 13.3%
Volatility 14.0% 13.4% 17.4% 17.2% 21.2% -- --
Market Correlations
versus...BetaR-squared
S&P 5001.0595%
MSCI EAFE0.9876%
MSCI Emg Mkts0.6535%
Liquidity Measures
Avg. volume (000)2
Turnover0.3%
Avg. Bid/Ask (% of price)0.22%
ADV of underlying (mns)$134,665
Technical Indicators
Recent close$68.52
30d moving avg.$66.00
Annualized volatility19.4%
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)

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Risk and Returns: PSET vs. Comps (1 YR)

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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 --%
4.1 22.7 5.4 1.0% --
Based on closing prices from 6/20/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
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

5.4%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™5.4%
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 892 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.8%. PSET's ALTAR Score™ is approximately 0.1 standard deviations below the category average. This places PSET in the 45th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
PSET
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
Change
Volume
Bid/Ask Spread
Update
Today's Trading

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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. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .