Principal International Multi-Factor Core Index ETF
ALTAR
Score™
8.1% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
21.4x P/Sales
ratio
1.0x
P/BV
ratio
1.2x Div.
yield
3.2%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Principal International Multi-Factor Core Index ETF tracks a multi-factor selected and weighted index of developed market equities.

FUND BASICS
Category International Equities
Fund Sponsor The Principal Financial Group
Website www.principalfunds.com
Inception date Jul 23, 2019
Assets (mns) $54
Currency USD
Expense ratio 25 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 593
Wgt avg mkt cap (mns) $56,667
Large cap (>$10bn) 69.0%
Mid cap ($2-10bn) 29.9%
Small cap (<$2bn) 0.9%
Developed mkts 99.6%
Emerging mkts 0.5%

TOP TEN HOLDINGS
NESTLE SA-REG 2.1 %
ROCHE HOLDING AG-GENUSSCHEIN 1.9 %
NOVARTIS AG-REG 1.2 %
TOYOTA MOTOR CORP 1.2 %
NOVO NORDISK A/S-B 0.9 %
ASML HOLDING NV 0.8 %
LVMH MOET HENNESSY LOUIS VUI 0.8 %
ROYAL BANK OF CANADA 0.8 %
BHP BILLITON LTD 0.7 %
AIA GROUP LTD 0.7 %
Total 11.0 %

TOP COUNTRY EXPOSURE
JAPAN 22.4 %
SWITZERLAND 11.8 %
BRITAIN 11.7 %
CANADA 10.4 %
GERMANY 8.5 %
FRANCE 8.5 %
AUSTRALIA 5.5 %
NETHERLANDS 3.3 %
SWEDEN 2.9 %
DENMARK 2.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-5.8% 1.7% -- -- 3.8%

Market Correlations
versus... Beta R-squared
S&P500 0.83 89%
MSCI EAFE 0.92 99%
MSCI Emg. Mkts. 0.63 72%

Technical Indicators
Recent close $24.40
30d moving avg. $25.00
Annualized volatility 20.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 66
Turnover 3.0%
Bid/Ask (% of price) 0.39%
ADV underlying (mns) $37,053

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Principal International Multi-Factor Core Index ETF ETF based on the alternatives' overlap in portfolio holdings with PDEV. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PDEV Expense: 25 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PDEV
Ticker Fund
Name
Overlap1
vs PDEV
(%)
Expense
ratio
(bp)
Savings
vs PDEV
(bp)
ALTAR
Score™
(%)
ALTAR
vs PDEV
(%)
SCHF Schwab International Equity ETF 58.2 6 19 7.4 -0.7
BKIE BNY Mellon International Equity ETF 58.1 4 21 7.6 -0.5
EFA iShares MSCI EAFE ETF 57.4 32 -7 7.2 -0.9
HFXI IQ 50 Percent Hedged FTSE International ETF 57.1 20 5 7.6 -0.5
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 57.0 35 -10 7.1 -1.0
GSID Goldman Sachs MarketBeta International Equity ETF 56.9 20 5 7.5 -0.6
IDEV iShares Core MSCI International Developed Markets ETF 56.3 5 20 7.3 -0.8
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 55.3 7 18 7.6 -0.5
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 55.0 20 5 7.2 -0.9
SPDW SPDR Portfolio Developed World ex-US ETF 54.4 4 21 7.2 -0.9
IEFA iShares Core MSCI EAFE ETF 54.2 7 18 7.4 -0.7
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 53.8 45 -20 9.1 +1.0
VEA Vanguard FTSE Developed Markets ETF 53.6 5 20 7.5 -0.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 53.5 25 0 6.8 -1.3
JHMD John Hancock Multifactor Developed International ETF 52.8 39 -14 7.5 -0.6
ESGD iShares MSCI EAFE ESG Optimized ETF 52.2 20 5 7.1 -1.1
FNDF Schwab Fundamental International Large Co. Index ETF 51.1 25 0 9.0 +0.8
QEFA SPDR MSCI EAFE Quality Mix ETF 50.8 30 -5 6.9 -1.2
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 48.9 35 -10 8.9 +0.8
DWM WisdomTree International Equity Fund 47.7 48 -23 8.6 +0.5
ISZE iShares Edge MSCI Intl Size Factor ETF 46.9 30 -5 7.4 -0.7
CWI SPDR MSCI ACWI ex-US ETF 46.9 30 -5 7.3 -0.9
IQSI IQ Candriam ESG International Equity ETF 46.5 15 10 7.6 -0.5
ACWX iShares MSCI ACWI ex U.S. ETF 46.4 32 -7 7.3 -0.8
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 46.0 40 -15 7.2 -1.0
IQIN IQ 500 International ETF 45.0 25 0 8.9 +0.8
VEU Vanguard FTSE All-World ex-US Index Fund 44.2 8 17 7.6 -0.5
ISDX Invesco Strategic Developed ex-US ETF 43.7 23 2 7.6 -0.5
FLEH Franklin FTSE Europe Hedged ETF 43.6 9 16 7.4 -0.7
FLEE Franklin FTSE Europe ETF 43.5 9 16 7.3 -0.8
CIL VictoryShares International Volatility Weighted Index ETF 43.3 45 -20 7.1 -1.1
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 43.3 45 -20 7.1 -1.1
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 43.2 39 -14 6.7 -1.4
BBEU JPMorgan BetaBuilders Europe ETF 42.9 9 16 7.6 -0.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 42.7 45 -20 7.0 -1.2
IEUR iShares Core MSCI Europe ETF 42.7 9 16 7.5 -0.6
VGK Vanguard FTSE Europe ETF 42.6 8 17 7.7 -0.4
DOL WisdomTree International LargeCap Dividend Fund 42.5 48 -23 9.1 +1.0
EFV iShares MSCI EAFE Value ETF 42.3 39 -14 10.0 +1.9
VSGX Vanguard ESG International Stock ETF 41.9 17 8 7.1 -1.0
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 41.9 35 -10 6.9 -1.2
IEV iShares Europe ETF 41.9 59 -34 7.1 -1.0
FEU SPDR Portfolio Europe ETF 41.7 9 16 7.6 -0.5
IXUS ishares Core MSCI Total International Stock ETF 41.5 9 16 7.4 -0.7
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 40.8 39 -14 8.5 +0.4
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 40.2 25 0 6.6 -1.5
IDY Pacific Global International Equity Income ETF 38.6 39 -14 8.2 +0.1
RESD WisdomTree International ESG Fund 38.1 30 -5 7.0 -1.2
AVDE Avantis International Equity ETF 38.0 23 2 7.8 -0.3
VXUS Vanguard Total International Stock Index Fund 37.9 8 17 7.6 -0.5
PQIN PGIM QMA Strategic Alpha International Equity ETF 35.9 29 -4 8.0 -0.2
DMXF iShares ESG Advanced MSCI EAFE ETF 35.6 12 13 7.0 -1.1
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 35.1 14 11 7.1 -1.0
VYMI Vanguard International High Dividend Yield ETF 34.3 27 -2 10.3 +2.1
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 34.3 16 9 7.0 -1.2
RNDM Developed International Equity Select ETF 33.3 65 -40 6.3 -1.8
IQLT iShares Edge MSCI Intl Quality Factor ETF 32.4 30 -5 6.1 -2.0
RODM Hartford Multifactor Developed Markets (ex-US) ETF 31.9 29 -4 7.8 -0.3
TPIF Timothy Plan International ETF 31.7 62 -37 6.4 -1.7
EFG iShares MSCI EAFE Growth ETF 31.6 40 -15 4.6 -3.6
QINT American Century Quality Diversified International ETF 30.4 39 -14 6.2 -1.9
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 30.4 24 1 7.0 -1.1
VGFO Virtus WMC Global Factor Opportunities ETF 30.0 49 -24 8.3 +0.2
SCID Global X Scientific Beta Europe ETF 29.8 39 -14 0.0 -8.1
FDEV Fidelity Targeted International Factor ETF 28.7 39 -14 6.6 -1.5
IVLU iShares Edge MSCI Intl Value Factor ETF 28.2 30 -5 11.9 +3.8
EFAV iShares Edge MSCI Min Vol EAFE ETF 27.6 20 5 5.5 -2.7
IPAC iShares Core MSCI Pacific ETF 27.6 9 16 7.2 -0.9
IGRO iShares International Dividend Growth ETF 27.6 22 3 8.6 +0.4
JPIN JPMorgan Diversified Return International Equity ETF 26.5 37 -12 8.0 -0.2
QWLD SPDR MSCI World StrategicFactors ETF 26.5 30 -5 6.1 -2.0
VPL Vanguard FTSE Pacific ETF 26.1 8 17 7.4 -0.7
ESGG FlexShares STOXX Global ESG Impact Index Fund 25.6 42 -17 5.2 -2.9
IDLB Invesco FTSE International Low Beta Equal Weight ETF 25.6 45 -20 6.6 -1.5
FIVA Fidelity International Value Factor ETF 25.5 39 -14 10.3 +2.1
OEUR O'shares FTSE Europe Quality Dividend ETF 25.1 48 -23 7.1 -1.1
IDHQ Invesco S&P International Developed Quality ETF 24.8 29 -4 5.1 -3.0
RBIN Nationwide Risk-Based International Equity ETF 24.7 42 -17 6.1 -2.0
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 24.3 45 -20 7.1 -1.1
IMTM iShares Edge MSCI Intl Momentum Factor ETF 24.3 30 -5 4.4 -3.7
RFDI First Trust Riverfront Dynamic Developed International ETF 24.3 83 -58 5.8 -2.3
EURZ Xtrackers Eurozone Equity ETF 24.0 9 16 7.4 -0.8
UIVM VictoryShares USAA MSCI International Value Momentum ETF 24.0 35 -10 8.8 +0.7
DTH WisdomTree DEFA Equity Income Fund 23.9 58 -33 10.3 +2.1
URTH iShares MSCI World ETF 23.8 24 1 5.6 -2.6
EZU iShares MSCI Eurozone ETF 23.5 49 -24 6.9 -1.2
NUDM Nuveen ESG International Developed Markets Equity ETF 23.4 40 -15 7.0 -1.2
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 22.8 32 -7 6.2 -2.0
IQDF FlexShares International Quality Dividend Index Fund 22.0 47 -22 9.3 +1.1
VIGI Vanguard International Dividend Appreciation ETF 21.8 20 5 5.6 -2.5
LVIN Hartford Multifactor Low Volatility International Equity ETF 21.5 29 -4 11.7 +3.6
DWMF WisdomTree International Multifactor Fund 21.3 38 -13 6.3 -1.8
BBJP JPMorgan BetaBuilders Japan ETF 21.2 19 6 7.2 -0.9
EWJ iShares MSCI Japan ETF 21.2 49 -24 7.0 -1.1
DBJP Xtrackers MSCI Japan Hedged Equity ETF 21.1 45 -20 7.1 -1.1
FLJP Franklin FTSE Japan ETF 21.1 9 16 7.4 -0.7
FLJH Franklin FTSE Japan Hedged ETF 21.1 9 16 7.3 -0.8
IDLV Invesco S&P International Developed Low Volatility ETF 20.9 25 0 6.6 -1.6
QJPN SPDR MSCI Japan StrategicFactors ETF 20.9 14 11 7.5 -0.6

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

  2015 2016 2017 2018 2019 2020E 2021E
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

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Principal International Multi-Factor Core Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 9.9 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.57
 
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.