Principal Active Global Dividend Income
ALTAR
Score™
5.9% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
17.6x P/Sales
ratio
2.0x
P/BV
ratio
2.6x Div.
yield
3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Principal Active Global Dividend Income ETF is an actively managed fund of global dividend paying stocks. The fund seeks current income and long-term capital and income growth.

FUND BASICS
Category Global Equities
Fund Sponsor The Principal Financial Group
Website www.principalfunds.com
Inception date May 09, 2017
Assets (mns) $779
Currency USD
Expense ratio 58 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 60
Wgt avg mkt cap (mns) $164,655
Large cap (>$10bn) 77.7%
Mid cap ($2-10bn) 15.5%
Small cap (<$2bn) 6.8%
Developed mkts 88.8%
Emerging mkts 11.2%

TOP TEN HOLDINGS
TAIWAN SEMICONDUCTOR-SP ADR 4.1 %
APPLE INC 3.8 %
MICROSOFT CORP 3.4 %
JPMORGAN CHASE & CO 3.3 %
PACWEST BANCORP 2.9 %
ROCHE HOLDING AG-GENUSSCHEIN 2.8 %
PACCAR INC 2.6 %
WALT DISNEY CO/THE 2.4 %
PFIZER INC 2.2 %
AMBEV SA-ADR 2.2 %
Total 29.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 36.4 %
SWITZERLAND 8.1 %
BRITAIN 7.8 %
CANADA 6.2 %
FRANCE 5.2 %
GERMANY 4.5 %
TAIWAN 4.1 %
DENMARK 3.9 %
JAPAN 3.2 %
IRELAND 2.8 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
19.3% 13.2% -- -- 8.0%

Market Correlations
versus... Beta R-squared
S&P500 0.88 84%
MSCI EAFE 0.99 85%
MSCI Emg. Mkts. 0.68 65%

Technical Indicators
Recent close $28.97
30d moving avg. $28.11
Annualized volatility 12.6%
Short interest (ETF) 0.0%
Relative strength (RSI) 59

Liquidity measures
Avg. volume (thou.) 36
Turnover 0.1%
Bid/Ask (% of price) 0.45%
ADV underlying (mns) $19,109

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Principal Active Global Dividend Income ETF based on the alternatives' overlap in portfolio holdings with GDVD. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: GDVD Expense: 58 bp ALTAR Score™: 5.9%


ALTERNATIVE ETFs BASED ON OVERLAP WITH GDVD
Ticker Fund
Name
Overlap1
vs GDVD
(%)
Expense
ratio
(bp)
Savings
vs GDVD
(bp)
ALTAR
Score™
(%)
ALTAR
vs GDVD
(%)
IOO iShares S&P Global 100 18.8 40 18 5.4 -0.5
EDOW First Trust Dow 30 Equal Weight 17.9 50 8 6.1 +0.2
DGRO iShares Core Dividend Growth 17.8 8 50 6.4 +0.5
XLG Invesco S&P Top 50 17.4 20 38 5.1 -0.8
DIA SPDR Dow Jones Industrial Average 16.4 17 41 6.0 +0.1
USMC Principal U.S. Mega-Cap Multi-Factor Index 16.1 12 46 5.7 -0.2
QDYN FlexShares Quality Dividend Dynamic 16.1 37 21 6.6 +0.7
RFDA RiverFront Dynamic US Dividend Advantage 16.0 52 6 6.5 +0.6
ESGG FlexShares STOXX Global ESG Impact Index Fund 16.0 42 16 5.6 -0.3
WOMN Impact Shares YWCA Women's Empowerment 15.9 75 -17 5.4 -0.5
FDRR Fidelity Dividend for Rising Rates 15.7 29 29 7.8 +1.9
DIVB iShares U.S. Dividend & Buyback 15.5 25 33 6.6 +0.7
OEF iShares S&P 100 15.5 20 38 5.5 -0.4
DLN WisdomTree Large Cap Dividend 15.5 28 30 6.5 +0.6
QDF FlexShares Quality Dividend 15.4 37 21 6.9 +1.0
OVOL Invesco Russell 1000 Low Volatility Factor ETF 15.0 19 39 5.6 -0.3
SNPE Xtrackers S&P 500 ESG 14.8 11 47 5.8 -0.1
ESG FlexShares STOXX US ESG Impact Index Fund 14.7 32 26 5.4 -0.5
JUST Goldman Sachs JUST U.S. Large Cap Equity 14.6 20 38 5.6 -0.3
IQLT iShares MSCI Int'l Developed Quality 14.5 30 28 6.1 +0.2

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2014 2015 2016 2017 2018 2019E 2020E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2018 2019E 2020E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Principal Active Global Dividend Income
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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™


Calculation of ALTAR Score™
Avg. Return on Equity 16.0 %
Divided by: Fwd. P/BV 2.5 x
Less: Expense ratio 58 bp
Equals: ALTAR Score 5.9 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.64 CATEGORY
AVERAGE
1.54
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.