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
317.3 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) | $317 |
| 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
| BROADCOM INC. | 4.8 % |
| MICROSOFT CORP | 4.3 % |
| APPLE INC | 4.2 % |
| NVIDIA CORP | 4.0 % |
| EXXON MOBIL CORP | 1.7 % |
| HOME DEPOT INC | 1.7 % |
| WELLS FARGO & CO | 1.6 % |
| MORGAN STANLEY | 1.5 % |
| RTX CORP | 1.4 % |
| CATERPILLAR INC | 1.4 % |
Constituent Breakdown
| Number of holdings | 105 |
| Herfindahl-Hirschman Index | 164 |
| Wgt avg mkt cap (mns) | $621,822 |
| 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 09/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 6.0% | 4.8% | 15.4% | 12.6% | 12.9% | -- | -- | 8.1% |
| Dividend Yield | 1.1% | 2.3% | 2.8% | 3.0% | 3.3% | -- | -- | 2.8% |
| Total Returns | 7.1% | 7.1% | 18.3% | 15.6% | 16.2% | -- | -- | 10.9% | Ann. Volatility | 19.4% | 17.8% | 15.3% | 15.2% | 17.3% | -- | -- | 23.2% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.00 | 76% |
| MSCI EAFE | 0.69 | 46% |
| MSCI Emg Mkts | 0.36 | 14% |
Liquidity Measures
| Avg. volume (000) | 38 |
| ADV traded (mns) | $2 |
| Turnover | 0.6% |
| Avg. Bid/Ask (% of price) | 0.12% |
Technical Indicators
| Recent close | $52.09 |
| 30d moving avg. | $51.71 |
| Annualized volatility | 15.3% |
| Relative strength (RSI) | 50 |
| Short interest | 0.8% |
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 | 35.4% | +13 bp | +5.9% |
| QDF | FlexShares Quality Dividend Index Fund | 35.3% | +22 bp | +6.2% |
| QLC | FlexShares US Quality Large Cap Index Fund | 34.0% | +10 bp | +5.2% |
| FDRR | Fidelity Dividend ETF for Rising Rates | 33.5% | 0 bp | +6.8% |
| FVAL | Fidelity Value Factor ETF | 33.0% | 0 bp | +6.7% |
| DTD | WisdomTree U.S. Total Dividend Fund | 32.2% | +13 bp | +6.2% |
| FLRG | Fidelity U.S. Multifactor ETF | 31.5% | 0 bp | +6.8% |
| RECS | Columbia Research Enhanced Core ETF | 31.3% | 0 bp | +5.7% |
| QDEF | FlexShares Quality Dividend Defensive Index Fund | 31.2% | +22 bp | +6.1% |
| PFM | Invesco Dividend Achievers ETF | 31.1% | +38 bp | +5.2% |
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 10/26/2025
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
7.2%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 995 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
0.7 standard deviations
above
the category average. This places PY in the 76th 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 | 402 |
| Avg. Expense Ratio | 63.7 bp |
| Std. Deviation | 35.5 bp |
| PY (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 | 12.1 | 27.1 |
| Peer Avg. | 63.7 | 20.8 | 84.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .