USMC

Principal U.S. Mega-Cap ETF

The investment seeks to provide investment results that closely correspond, before expenses, to the performance of the Nasdaq U.S. Mega Cap Select Leaders Index. The index uses a quantitative model designed to identify equity securities of companies with the largest market capitalizations in the Nasdaq US 500 Large Cap Index, with higher weights given to securities that are less volatile.


Active, Concentrated

MANAGEMENT MATRIX

XLG

CLOSEST COMP

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorThe Principal Financial Group
CategoryUS Equities
Asset classEquity
Websitelink...
Inception dateOct 11, 2017
Assets (mns)$2,295
Expense ratio12 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings
MICROSOFT CORP 7.0 %
APPLE INC 6.1 %
NVIDIA CORP 5.3 %
META PLATFORMS INC 4.1 %
BROADCOM INC. 3.8 %
ADOBE SYSTEMS INC 3.8 %
COSTCO WHOLESALE CORP 3.7 %
ACCENTURE PLC-CL A 3.5 %
ALPHABET INC. CLASS A 3.3 %
MASTERCARD INCORPORATED CLASS A 3.2 %
Constituent Breakdown
Number of holdings43
Herfindahl-Hirschman Index 318
Wgt avg mkt cap (mns)$886,682
Large cap (>$10bn)99.7%
Mid cap ($2-10bn)0.0%
Small cap (<$2bn)0.0%
Developed mkts.100.0%
Emerging mkts.0.0%
Country Exposure
UNITED STATES 94.9 %
IRELAND 3.5 %
BRITAIN 1.2 %
Historical Performance


Standardized Annual Returns (as of 02/29/2024)
YTD1 YR2 YR3 YR5 YR10 YRIncep.
0.0% 26.4% 8.5% 11.6% 13.1% -- 12.3%
Market Correlations
versus...BetaR-squared
S&P 5000.9799%
MSCI EAFE0.8876%
MSCI Emg Mkts0.6240%
Liquidity Measures
Avg. volume (000)154
Turnover0.3%
Avg. Bid/Ask (% of price)0.09%
ADV of underlying (mns)$135,644
Technical Indicators
Recent close$51.37
30d moving avg.$44.86
Annualized volatility17.4%
Relative strength (RSI)79
Short interest (ETF)0.1%
Short interest (underlying)1.0%
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: USMC vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
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Earnings per share -- -- -- -- -- -- --
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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 --%
3.4 21.9 4.3 1.4% --
Based on closing prices from 3/27/2024
Historical Valuation Trends Sample data. Subscribe for access.

SHOWING:
Price-to-Earnings
USMC



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™

USMC

4.9%

Cat. Avg

5.6%

Fund Category: US Equities

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™4.9%
Recommendation

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

Category Overview
There are 882 funds in the US Equities category, with an average ALTAR Score™ of 5.6% and a standard deviation of 2.7%. USMC's ALTAR Score™ is approximately 0.3 standard deviations below the category average. This places USMC in the 39th percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

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



Recent Trends


Breakdown

 

Market Activity
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
USMC 12.0 8.6 20.6
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .
Fundamental data for individual fund constituents sourced from FactSet Research Systems.