Principal U.S. Small Cap Index
ALTAR
Score™
6.3% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
15.9x P/Sales
ratio
1.0x
P/BV
ratio
1.8x Div.
yield
2.4%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Principal U.S. Small Cap Index ETF invests in small-capitalization companies within the U.S. that exhibit high shareholder yield, high pricing power, and momentum.

FUND BASICS
Category US Equities
Fund Sponsor The Principal Financial Group
Website www.principaletfs.com
Inception date Sep 21, 2016
Assets (mns) $382
Currency USD
Expense ratio 38 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 465
Wgt avg mkt cap (mns) $2,236
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 54.2%
Small cap (<$2bn) 45.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ESSENTIAL PROPERTIES REALTY TRUST, 0.8 %
UNITED THERAPEUTICS CORP 0.8 %
RH 0.8 %
CHEMICAL FINANCIAL CORP 0.7 %
WEINGARTEN REALTY INVESTORS 0.7 %
VIAVI SOLUTIONS INC. 0.7 %
ARROWHEAD PHARMACEUTICALS, INC. 0.7 %
CIRRUS LOGIC INC 0.7 %
UNIFIRST CORP/MA 0.7 %
TANGER FACTORY OUTLET CENTER 0.7 %
Total 7.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 97.3 %
PUERTO RICO 0.7 %
IRELAND 0.6 %
BERMUDA 0.5 %
NETHERLANDS 0.3 %
BRITAIN 0.1 %





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.
12.8% 0.5% -- -- 8.3%

Market Correlations
versus... Beta R-squared
S&P500 1.19 69%
MSCI EAFE 0.88 32%
MSCI Emg. Mkts. 0.47 15%

Technical Indicators
Recent close $31.45
30d moving avg. $31.17
Annualized volatility 17.2%
Short interest (ETF) 0.2%
Relative strength (RSI) 66

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.0%
Bid/Ask (% of price) 0.17%
ADV underlying (mns) $6,202

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Principal U.S. Small Cap Index ETF based on the alternatives' overlap in portfolio holdings with PSC. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PSC Expense: 38 bp ALTAR Score™: 6.3%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSC
Ticker Fund
Name
Overlap1
vs PSC
(%)
Expense
ratio
(bp)
Savings
vs PSC
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSC
(%)
CSF Compass EMP US Discovery 500 Enhanced Vol. 37.7 35 3 7.3 +1.0
CSA Victory CEMP US Small Cap Volatility Wtd 37.7 35 3 7.3 +1.0
FYX First Trust Small Cap Core Alphadex 35.9 66 -28 5.8 -0.5
SLY SPDR S&P 600 Small Cap 35.8 15 23 6.2 -0.1
IJR iShares Core S&P Small-Cap 35.6 7 31 6.2 -0.1
VIOO Vanguard S&P Small-Cap 600 34.4 15 23 6.0 -0.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity 32.3 29 9 5.0 -1.3
ISMD Inspire Small/Mid Cap Impact 32.0 61 -23 4.8 -1.5
EES WisdomTree SmallCap Earnings 31.0 38 0 9.4 +3.1
DES WisdomTree Smallcap Dividend 30.5 38 0 7.4 +1.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity 29.5 20 18 5.9 -0.5
RNSC Small Cap US Equity Select 29.5 60 -22 6.3 -0.0
SMLF iShares FactorSelect MSCI USA Small-Cap 28.8 30 8 6.4 +0.0
FLQS Franklin LibertyQ U.S. Small Cap Equity 28.8 35 3 6.3 -0.0
ROGS Lattice Global Small Cap Strategy 28.7 39 -1 9.4 +3.1
EWSC Invesco S&P Small Cap 600 Equal Weight 28.0 40 -2 5.8 -0.5
IWO iShares Russell 2000 Growth 27.9 24 14 0.9 -5.4
IWM iShares Russell 2000 27.4 19 19 3.8 -2.5
IJT iShares S&P 600 SmallCap Growth 27.4 25 13 4.6 -1.7
SLYG SPDR S&P600 Small Cap Growth 27.3 15 23 4.7 -1.6

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%.

Content on this tab for subscribers only**

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 U.S. Small Cap Index
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 11.3 %
Divided by: Fwd. P/BV 1.7 x
Less: Expense ratio 38 bp
Equals: ALTAR Score 6.3 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.55
 
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.