Principal International Multi-Factor Core Index ETF
ALTAR
Score™
7.0% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
21.3x P/Sales
ratio
1.3x
P/BV
ratio
1.5x Div.
yield
2.8%


  • 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) $56
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 551
Wgt avg mkt cap (mns) $64,297
Large cap (>$10bn) 76.4%
Mid cap ($2-10bn) 22.7%
Small cap (<$2bn) 0.5%
Developed mkts 99.5%
Emerging mkts 0.5%

TOP TEN HOLDINGS
ROCHE HOLDING AG-GENUSSCHEIN 1.8 %
NESTLE SA-REG 1.6 %
NOVARTIS AG-REG 1.4 %
TOYOTA MOTOR CORP 1.1 %
ASML HOLDING NV 1.0 %
NOVO NORDISK A/S-B 1.0 %
LVMH MOET HENNESSY LOUIS VUI 0.8 %
ROYAL DUTCH SHELL PLC-A SHS 0.8 %
AIA GROUP LTD 0.8 %
TOTAL SA 0.8 %
Total 11.0 %

TOP COUNTRY EXPOSURE
JAPAN 22.6 %
BRITAIN 11.8 %
SWITZERLAND 10.6 %
CANADA 10.1 %
FRANCE 9.3 %
GERMANY 7.9 %
AUSTRALIA 5.4 %
NETHERLANDS 3.4 %
SWEDEN 2.5 %
DENMARK 2.5 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.3% 9.3% -- -- 15.2%

Market Correlations
versus... Beta R-squared
S&P500 0.95 87%
MSCI EAFE 0.95 99%
MSCI Emg. Mkts. 0.73 65%

Technical Indicators
Recent close $29.42
30d moving avg. $28.73
Annualized volatility 22.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.3%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $52,444

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 97 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™: 7.0%


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
(%)
DFAI Dimensional International Core Equity Market ETF 80.1 18 7 6.3 -0.7
BKIE BNY Mellon International Equity ETF 60.8 4 21 6.5 -0.5
SCHF Schwab International Equity ETF 59.8 6 19 6.5 -0.6
EFA iShares MSCI EAFE ETF 59.3 32 -7 6.2 -0.8
DBEF Xtrackers MSCI EAFE Hedged Equity ETF 58.7 35 -10 6.1 -1.0
GSID Goldman Sachs MarketBeta International Equity ETF 58.6 20 5 6.3 -0.7
HFXI IQ 50 Percent Hedged FTSE International ETF 58.1 20 5 6.4 -0.6
IDEV iShares Core MSCI International Developed Markets ETF 57.4 5 20 6.4 -0.6
EFAX SPDR MSCI EAFE Fossil Fuel Free ETF 56.8 20 5 6.3 -0.7
PBDM Invesco PureBeta FTSE Developed ex-North America ETF 56.6 7 18 6.5 -0.5
IEFA iShares Core MSCI EAFE ETF 55.5 7 18 6.4 -0.6
GSIE Goldman Sachs ActiveBeta International Equity ETF 55.2 25 0 6.0 -1.1
SPDW SPDR Portfolio Developed World ex-US ETF 54.9 4 21 6.2 -0.9
VEA Vanguard FTSE Developed Markets ETF 54.0 5 20 6.5 -0.5
JHMD John Hancock Multifactor Developed International ETF 53.7 39 -14 6.5 -0.5
ESGD iShares MSCI EAFE ESG Optimized ETF 53.6 20 5 6.1 -0.9
PXF Invesco FTSE RAFI Developed Markets ex-U.S. ETF 52.6 45 -20 7.5 +0.5
QEFA SPDR MSCI EAFE Quality Mix ETF 51.6 30 -5 6.0 -1.1
IQSI IQ Candriam ESG International Equity ETF 50.7 15 10 6.4 -0.7
FNDF Schwab Fundamental International Large Co. Index ETF 49.5 25 0 7.6 +0.6
CWI SPDR MSCI ACWI ex-US ETF 48.1 30 -5 6.1 -0.9
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 47.8 40 -15 7.2 +0.2
DWM WisdomTree International Equity Fund 47.4 48 -23 7.1 +0.1
ACWX iShares MSCI ACWI ex U.S. ETF 46.5 32 -7 6.3 -0.8
ISZE iShares Edge MSCI Intl Size Factor ETF 45.7 30 -5 6.3 -0.8
CEFA Global X S&P Catholic Values Developed ex-U.S. ETF 45.7 35 -10 5.9 -1.1
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 45.4 40 -15 6.0 -1.0
CIL VictoryShares International Volatility Weighted Index ETF 45.2 45 -20 6.3 -0.7
VSGX Vanguard ESG International Stock ETF 45.1 17 8 6.3 -0.7
CIZ VictoryShares Developed Enhanced Volatility Weighted Index E 45.0 45 -20 6.3 -0.8
FLEE Franklin FTSE Europe ETF 44.7 9 16 6.4 -0.7
MFDX PIMCO RAFI Dynamic Multi-Factor International Equity ETF 44.6 39 -14 5.5 -1.5
FLEH Franklin FTSE Europe Hedged ETF 44.6 9 16 6.4 -0.6
VEU Vanguard FTSE All-World ex-US Index Fund 44.5 8 17 6.6 -0.4
IQIN IQ 500 International ETF 44.2 25 0 7.5 +0.5
BBEU JPMorgan BetaBuilders Europe ETF 44.1 9 16 6.6 -0.4
IEUR iShares Core MSCI Europe ETF 43.9 9 16 6.5 -0.5
DBEU Xtrackers MSCI Europe Hedged Equity ETF 43.7 45 -20 5.9 -1.1
IEV iShares Europe ETF 43.3 59 -34 6.2 -0.9
VGK Vanguard FTSE Europe ETF 43.2 8 17 6.7 -0.3
SPEU SPDR Portfolio Europe ETF 43.1 9 16 6.7 -0.3
EFV iShares MSCI EAFE Value ETF 42.7 39 -14 8.3 +1.2
GSEU Goldman Sachs ActiveBeta Europe Equity ETF 42.2 25 0 5.8 -1.2
DOL WisdomTree International LargeCap Dividend Fund 41.7 48 -23 7.1 +0.1
ISDX Invesco RAFI Strategic Developed ex-US ETF 41.4 23 2 6.2 -0.9
TLTD FlexShares Morningstar Developed Markets ex-US Factor Tilt 41.1 39 -14 7.4 +0.3
IXUS ishares Core MSCI Total International Stock ETF 41.0 9 16 6.4 -0.6
RESD WisdomTree International ESG Fund 39.8 30 -5 6.5 -0.6
DMXF iShares ESG Advanced MSCI EAFE ETF 39.2 12 13 6.2 -0.9
PQIN PGIM QMA Strategic Alpha International Equity ETF 37.9 29 -4 7.0 -0.0
AVDE Avantis International Equity ETF 37.3 23 2 6.9 -0.2
EASG Xtrackers MSCI EAFE ESG Leaders Equity ETF 36.0 14 11 6.1 -1.0
VYMI Vanguard International High Dividend Yield ETF 35.4 27 -2 8.9 +1.8
ACSG Xtrackers MSCI ACWI ex USA ESG Leaders Equity ETF 35.4 16 9 5.9 -1.1
VXUS Vanguard Total International Stock ETF 35.0 8 17 6.5 -0.5
IQLT iShares Edge MSCI Intl Quality Factor ETF 34.3 30 -5 5.2 -1.8
TPIF Timothy Plan International ETF 34.1 62 -37 6.0 -1.0
IVLU iShares Edge MSCI Intl Value Factor ETF 33.5 30 -5 9.9 +2.9
RODM Hartford Multifactor Developed Markets (ex-US) ETF 33.5 29 -4 7.2 +0.2
RNDM First Trust Developed International Equity Select ETF 33.3 65 -40 5.6 -1.4
EFG iShares MSCI EAFE Growth ETF 32.9 40 -15 4.1 -3.0
DEEF Xtrackers FTSE Developed ex US Comprehensive Factor ETF 32.5 24 1 6.5 -0.5
QINT American Century Quality Diversified International ETF 30.9 39 -14 5.6 -1.4
VWID Virtus WMC International Dividend ETF 30.3 49 -24 7.3 +0.3
IDLB Invesco FTSE International Low Beta Equal Weight ETF 29.7 45 -20 6.1 -0.9
JPIN JPMorgan Diversified Return International Equity ETF 28.0 37 -12 7.0 -0.0
FDEV Fidelity Targeted International Factor ETF 28.0 39 -14 6.1 -0.9
IPAC iShares Core MSCI Pacific ETF 27.7 9 16 6.3 -0.8
RBIN Nationwide Risk-Based International Equity ETF 27.0 42 -17 6.0 -1.0
ESGG FlexShares STOXX Global ESG Impact Index Fund 26.9 42 -17 4.6 -2.5
EFAV iShares Edge MSCI Min Vol EAFE ETF 26.6 20 5 5.0 -2.1
FIVA Fidelity International Value Factor ETF 26.5 39 -14 8.7 +1.6
VPL Vanguard FTSE Pacific ETF 26.5 8 17 6.4 -0.7
IMTM iShares Edge MSCI Intl Momentum Factor ETF 26.5 30 -5 4.1 -2.9
EURZ Xtrackers Eurozone Equity ETF 26.2 9 16 6.4 -0.6
QWLD SPDR MSCI World StrategicFactors ETF 26.0 30 -5 5.3 -1.7
UIVM VictoryShares USAA MSCI International Value Momentum ETF 25.9 35 -10 7.6 +0.6
DBEZ Xtrackers MSCI Eurozone Hedged Equity ETF 25.6 45 -20 6.0 -1.1
DTH WisdomTree International High Dividend Fund 24.7 58 -33 8.7 +1.6
EZU iShares MSCI Eurozone ETF 24.6 51 -26 5.9 -1.1
URTH iShares MSCI World ETF 24.6 24 1 4.9 -2.1
QLVD FlexShares Developed Markets ex-US Quality Low Volatility Id 24.0 32 -7 5.7 -1.4
NUDM Nuveen ESG International Developed Markets Equity ETF 23.9 40 -15 5.9 -1.2
IDHQ Invesco S&P International Developed Quality ETF 23.6 29 -4 4.7 -2.3
EUDG WisdomTree Europe Quality Dividend Growth Fund 23.4 58 -33 6.4 -0.6
IDLV Invesco S&P International Developed Low Volatility ETF 23.3 25 0 6.2 -0.8
RFDI First Trust Riverfront Dynamic Developed International ETF 22.5 83 -58 5.1 -2.0
IGRO iShares International Dividend Growth ETF 22.5 15 10 7.0 -0.0
GSJY Goldman Sachs ActiveBeta Japan Equity ETF 21.7 25 0 6.2 -0.8
EWJ iShares MSCI Japan ETF 21.7 51 -26 6.1 -1.0
DBJP Xtrackers MSCI Japan Hedged Equity ETF 21.7 45 -20 6.1 -0.9
RODE Hartford Multifactor Diversified International ETF 21.6 29 -4 10.5 +3.5
FLJP Franklin FTSE Japan ETF 21.5 9 16 6.5 -0.5
BBJP JPMorgan BetaBuilders Japan ETF 21.5 19 6 6.4 -0.6
FLJH Franklin FTSE Japan Hedged ETF 21.5 9 16 6.5 -0.5
VIGI Vanguard International Dividend Appreciation ETF 21.4 20 5 5.0 -2.0
DEW WisdomTree Global High Dividend Fund 21.3 58 -33 8.7 +1.7

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:

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 10.3 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 25 bp
Equals: ALTAR Score 7.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 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.