PY
Principal Value ETF
The Principal Shareholder Yield Index ETF tracks an index of dividend-paying large- and midcap US stocks that are selected by several fundamental factors, including dividend yield and buyback yield. Holdings are equally weighted within two tiers.
US
EQUITY
Active
MANAGEMENT STYLE
140.2 M
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | The Principal Financial Group |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 21, 2016 |
| Assets (mns) | $140 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| MICROSOFT CORP | 4.4 % |
| BROADCOM INC. | 4.3 % |
| NVIDIA CORP | 4.2 % |
| APPLE INC | 4.1 % |
| EXXON MOBIL CORP | 1.8 % |
| WELLS FARGO & CO | 1.7 % |
| HOME DEPOT INC | 1.7 % |
| MORGAN STANLEY | 1.5 % |
| CHEVRON CORP | 1.4 % |
| RTX CORP | 1.4 % |
Constituent Breakdown
| Number of holdings | 105 |
| Herfindahl-Hirschman Index | 125 |
| Wgt avg mkt cap (mns) | $491,537 |
| Large cap (>$10bn) | 96.7% |
| Mid cap ($2-10bn) | 3.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.9% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 101.2 % |
 |
IRELAND | 2.9 % |
 |
BRITAIN | 1.4 % |
 |
SWITZERLAND | 0.9 % |
 |
BERMUDA | 0.7 % |
Historical Performance
Standardized Performance (as of 08/29/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.2% | 6.1% | 12.6% | 9.0% | 11.6% | -- | -- | 8.1% |
| Dividend Yield | 1.1% | 2.3% | 2.8% | 2.9% | 3.3% | -- | -- | 2.8% |
| Total Returns | 6.3% | 8.4% | 15.4% | 11.8% | 14.9% | -- | -- | 10.9% | Ann. Volatility | 20.4% | 18.0% | 15.4% | 15.6% | 17.7% | -- | -- | 23.3% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.97 | 80% |
| MSCI EAFE | 0.73 | 53% |
| MSCI Emg Mkts | 0.46 | 22% |
Liquidity Measures
| Avg. volume (000) | 93 |
| ADV traded (mns) | $5 |
| Turnover | 3.5% |
| Avg. Bid/Ask (% of price) | 0.17% |
Technical Indicators
| Recent close | $52.10 |
| 30d moving avg. | $50.90 |
| Annualized volatility | 16.4% |
| Relative strength (RSI) | 64 |
| Short interest | 1.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| DLN | WisdomTree U.S. LargeCap Dividend Fund | 32.7% | +13 bp | +5.9% |
| QDF | FlexShares Quality Dividend Index Fund | 31.8% | +22 bp | +6.2% |
| FVAL | Fidelity Value Factor ETF | 30.5% | 0 bp | +6.7% |
| DTD | WisdomTree U.S. Total Dividend Fund | 29.8% | +13 bp | +6.3% |
| QLC | FlexShares US Quality Large Cap Index Fund | 29.7% | +10 bp | +5.3% |
| IUS | Invesco RAFI Strategic US ETF | 29.6% | +4 bp | +6.9% |
| NUDV | Nuveen ESG Dividend ETF | 29.2% | +11 bp | +7.5% |
| FNDX | Schwab Fundamental US Large Co. Index ETF | 29.2% | +10 bp | +7.1% |
| DGRO | iShares Core Dividend Growth ETF | 29.0% | -7 bp | +6.5% |
| PFM | Invesco Dividend Achievers ETF | 28.8% | +38 bp | +5.3% |
Risk and Returns: PY 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
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| 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 9/2/2025
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
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 Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
PY
7.1%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 976 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.3%. PY's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places PY in the 74th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PYSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| (15 bp) Percentile rank | 9 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PY | 15.0 | 0.0 | 15 |
| Peer Avg. | 53.1 | 28.3 | 81.4 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .