USMC
Principal U.S. Mega-Cap Multi-Factor Index 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.
Fund Basics
| Fund sponsor | The Principal Financial Group |
| Category | US Equities |
| Asset class | Equity |
| Website | link... |
| Inception date | Oct 11, 2017 |
| Assets (mns) | $1,133 |
| Expense ratio | 12 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 7.0 % |
| NVIDIA CORP | 6.3 % |
| MICROSOFT CORP | 6.1 % |
| META PLATFORMS INC | 4.7 % |
| MASTERCARD INC-CLASS A | 3.4 % |
| VISA INC-CLASS A SHARES | 3.4 % |
| ABBVIE INC | 3.2 % |
| ALPHABET INC. CLASS A | 3.1 % |
| DANAHER CORP | 3.0 % |
| ACCENTURE PLC-CL A | 3.0 % |
Constituent Breakdown
| Number of holdings | 42 |
| Herfindahl-Hirschman Index | 321 |
| Wgt avg mkt cap (mns) | $578,847 |
| Large cap (>$10bn) | 97.0% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 94.2 % |
 |
IRELAND | 3.0 % |
 |
BRITAIN | 2.4 % |
Historical Performance
Standardized Annual Returns (as of 02/28/2023)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
|---|---|---|---|---|---|---|
| 4.1% | -6.9% | 4.9% | 11.3% | 9.2% | -- | 9.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.92 | 96% |
| MSCI EAFE | 0.84 | 77% |
| MSCI Emg Mkts | 0.59 | 44% |
Liquidity Measures
| Avg. volume (000) | 32 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.24% |
| ADV of underlying (mns) | $60,812 |
Technical Indicators
| Recent close | $38.72 |
| 30d moving avg. | $38.04 |
| Annualized volatility | 19.6% |
| Relative strength (RSI) | 51 |
| 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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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. USMC |
Expenses vs. USMC |
ALTAR Score™ vs. USMC |
|---|---|---|---|---|
| XLG | Invesco S&P 500 Top 50 ETF | 68.1% | +8 bp | -0.6% |
| BBLU | EA Bridgeway Blue Chip ETF | 62.0% | +3 bp | +0.4% |
| OEF | iShares S&P 100 ETF | 60.8% | +8 bp | -0.2% |
| DYNF | BlackRock U.S. Equity Factor Rotation ETF | 56.7% | +18 bp | -0.1% |
| IWL | iShares Russell Top 200 ETF | 52.8% | +3 bp | -0.2% |
| BKLC | BNY Mellon US Large Cap Core Equity ETF | 52.2% | -12 bp | -0.1% |
| VOOG | Vanguard S&P 500 Growth ETF | 51.6% | -2 bp | 0.0% |
| IVW | iShares S&P 500 Growth ETF | 51.5% | +6 bp | -0.1% |
| SPYG | SPDR Portfolio S&P 500 Growth ETF | 51.5% | -8 bp | +0.0% |
| MGC | Vanguard Mega Cap Index Fund | 51.3% | -5 bp | -0.2% |
Risk and Returns: USMC 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
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
|---|---|---|---|---|---|---|---|---|
| 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
| 2022 | 2023E | Fwd Est | 2024E | |
| 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 3/24/2023
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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
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
6.0%
Cat. Avg
6.6%
Fund Category: US Equities
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | 6.0% |
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 888 funds in the US Equities category, with an average ALTAR Score™
of 6.6% and a standard deviation of
3.2%. USMC's ALTAR Score™ is approximately
0.2 standard deviations
below
the category average. This places USMC in the 42nd percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
USMC
Peer Average
Recent Trends
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) |
|
|---|---|---|---|
| USMC | 12.0 | 23.9 | 35.9 |
| Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .