Principal U.S. Small Cap Index ETF
ALTAR
Score™
7.2% info Recommen-
dation
OVERWEIGHT
2020E    2021E
P/E
ratio
35.9x P/Sales
ratio
0.7x
P/BV
ratio
1.2x Div.
yield
2.5%


  • 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) $318
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 473
Wgt avg mkt cap (mns) $1,833
Large cap (>$10bn) 0.0%
Mid cap ($2-10bn) 42.2%
Small cap (<$2bn) 57.8%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
PACIRA PHARMACEUTICALS INC 0.9 %
LIGAND PHARMACEUTICALS-CL B 0.9 %
MACERICH CO/THE 0.8 %
DICK'S SPORTING GOODS INC 0.8 %
RYDER SYSTEM INC 0.8 %
TOPBUILD CORP 0.8 %
WESCO INTERNATIONAL INC 0.8 %
ALKERMES PLC 0.8 %
TANGER FACTORY OUTLET CENTER 0.7 %
TRADEWEB MARKETS, INC. CLASS A 0.7 %
Total 8.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.2 %
IRELAND 1.5 %
BERMUDA 0.7 %
NETHERLANDS 0.3 %
PUERTO RICO 0.3 %
BRITAIN 0.2 %
LUXEMBOURG 0.1 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-15.8% -11.8% -- -- 3.5%

Market Correlations
versus... Beta R-squared
S&P500 1.37 86%
MSCI EAFE 1.37 75%
MSCI Emg. Mkts. 0.98 60%

Technical Indicators
Recent close $26.50
30d moving avg. $27.48
Annualized volatility 25.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 50

Liquidity measures
Avg. volume (thou.) 9
Turnover 0.1%
Bid/Ask (% of price) 0.22%
ADV underlying (mns) $9,313

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Principal U.S. Small Cap Index ETF 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™: 7.2%


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
(%)
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 33.5 35 3 8.5 +1.2
SLY SPDR S&P 600 Small Cap ETF 31.9 15 23 7.2 0.0
SPSM SPDR Portfolio Small Cap ETF 31.9 5 33 7.3 +0.1
TPSC Timothy Plan US Small Cap Core ETF 31.7 52 -14 8.5 +1.2
IJR iShares Core S&P Small Cap ETF 31.7 7 31 7.3 +0.1
VIOO Vanguard S&P Small-Cap 600 ETF 31.1 10 28 7.4 +0.2
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 29.7 29 9 5.8 -1.5
DES WisdomTree U.S. SmallCap Dividend Fund 29.5 38 0 9.0 +1.8
RNSC Small Cap US Equity Select ETF 28.8 60 -22 8.0 +0.7
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 28.7 35 3 8.5 +1.2
FYX First Trust Small Cap Core AlphaDEX Fund 28.7 63 -25 6.8 -0.4
IWN iShares Russell 2000 Value ETF 28.3 24 14 7.5 +0.3
CSML IQ Chaikin U.S. Small Cap ETF 28.2 35 3 4.3 -3.0
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 28.1 20 18 9.7 +2.5
EWSC Invesco S&P Smallcap 600 Equal Weight ETF 27.9 40 -2 7.0 -0.3
EES WisdomTree SmallCap Earnings Fund 27.2 38 0 12.0 +4.8
ISMD Inspire Small/Mid Cap Impact ETF 26.8 60 -22 6.7 -0.6
AVUV Avantis U.S. Small Cap Value ETF 26.4 25 13 9.6 +2.4
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 25.9 20 18 6.2 -1.0
AFSM First Trust Active Factor Small Cap ETF 25.7 75 -37 5.8 -1.4
VIOG Vanguard S&P Small-Cap 600 Growth ETF 25.3 16 22 5.3 -1.9
IJT iShares S&P Small-Cap 600 Growth ETF 24.9 25 13 5.3 -2.0
SLYG SPDR S&P 600 Small Cap Growth ETF 24.9 15 23 5.4 -1.9
IWM iShares Russell 2000 ETF 24.7 19 19 3.7 -3.5
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 24.4 30 8 8.0 +0.8
VTWV Vanguard Russell 2000 Value Index Fund 24.2 15 23 7.7 +0.4
IUSS Invesco Strategic US Small Company ETF 23.3 23 15 5.6 -1.6
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 23.2 35 3 6.5 -0.7
RWJ Invesco S&P SmallCap 600 Revenue ETF 23.0 39 -1 8.0 +0.8
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 22.8 12 26 8.1 +0.8
SSLY Syntax Stratified SmallCap ETF 22.3 30 8 6.3 -0.9
VTWO Vanguard Russell 2000 Index Fund 22.0 10 28 3.8 -3.5
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 21.9 29 9 1.8 -5.4
FYT First Trust Small Cap Value AlphaDEX Fund 21.7 72 -34 9.7 +2.5
FNDA Schwab Fundamental U.S. Small Co. Index ETF 21.7 25 13 6.9 -0.3
PQSV PGIM QMA Strategic Alpha Small-Cap Value ETF 21.7 29 9 10.0 +2.8
SLYV SPDR S&P 600 Small Cap Value ETF 21.5 15 23 9.6 +2.3
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 21.4 39 -1 4.3 -2.9
IJS iShares S&P Small-cap 600 Value ETF 21.4 25 13 9.5 +2.3
ROGS Hartford Multifactor Global Small Cap ETF 21.2 34 4 8.2 +0.9
VIOV Vanguard S&P Small-Cap 600 Value ETF 20.0 15 23 9.9 +2.7
BKSE BNY Mellon US Small Cap Core Equity ETF 19.7 4 34 5.8 -1.4
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 19.7 24 14 7.4 +0.2
IWO iShares Russell 2000 Growth ETF 19.4 24 14 0.8 -6.5
SCHA Schwab U.S. Small-Cap ETF 19.4 4 34 4.8 -2.4
VTWG Vanguard Russell 2000 Growth Index Fund 19.1 15 23 0.8 -6.5
DGRS WisdomTree US SmallCap Quality Dividend Growth Fund 18.4 38 0 9.3 +2.0
VBR Vanguard Small Cap Value Index Fund 18.2 7 31 8.6 +1.4
FSMD Fidelity Small-Mid Factor ETF 18.2 29 9 7.2 -0.1
SQLV Legg Mason Small-Cap Quality Value 18.1 62 -24 8.1 +0.8
EWMC Invesco S&P MidCap 400 Equal Weight ETF 17.7 40 -2 7.4 +0.1
FYC First Trust Small Cap Growth AlphaDEX Fund 17.2 70 -32 2.6 -4.7
IVOV Vanguard S&P Mid-Cap 400 Value ETF 17.1 15 23 8.8 +1.5
JKL iShares Morningstar Small Cap Value ETF 17.0 30 8 10.7 +3.4
IJJ iShares S&P Mid-Cap 400 Value ETF 16.6 25 13 8.8 +1.6
MDYV SPDR S&P 400 Mid Cap Value ETF 16.6 15 23 8.9 +1.6
PBSM Invesco PureBeta MSCI USA Small Cap ETF 16.1 6 32 5.5 -1.8
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 16.0 17 21 5.3 -1.9
RZG Invesco S&P Smallcap 600 Pure Growth ETF 15.6 35 3 6.1 -1.1
NUSC Nuveen ESG Small-Cap ETF 15.2 40 -2 5.5 -1.7
EZM WisdomTree U.S. MidCap Earnings Fund 15.2 38 0 9.4 +2.2
RWK Invesco S&P MidCap 400 Revenue ETF 15.1 39 -1 8.3 +1.0
VFVA Vanguard U.S. Value Factor ETF 14.8 14 24 11.7 +4.5
SMDY Syntax Stratified MidCap ETF 14.6 30 8 6.5 -0.7
JHSC John Hancock Multifactor Small Cap ETF 14.4 42 -4 6.1 -1.2
VFMF Vanguard U.S. Multifactor ETF 14.2 19 19 7.3 +0.1
FAB First Trust Multi Cap Value AlphaDEX Fund 13.8 71 -33 9.8 +2.5
JKJ iShares Morningstar Small-Cap ETF 13.3 25 13 6.9 -0.4
XSLV Invesco S&P SmallCap Low Volatility ETF 13.0 25 13 6.2 -1.1
VFQY Vanguard U.S. Quality Factor ETF 13.0 13 25 6.1 -1.1
XSHQ Invesco S&P SmallCap Quality ETF 12.8 29 9 6.8 -0.5
PXSG Invesco S&P SmallCap Momentum ETF 12.6 39 -1 5.1 -2.1
VUSE Vident Core US Equity Fund 12.6 48 -10 8.5 +1.2
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 12.5 20 18 4.8 -2.4
RFV Invesco S&P Midcap 400 Pure Value ETF 12.5 35 3 10.8 +3.6
VB Vanguard Small-Cap ETF 12.4 5 33 5.5 -1.7
FNK First Trust Mid Cap Value AlphaDEX Fund 12.3 70 -32 10.6 +3.3
RNMC Mid Cap US Equity Select ETF 11.9 60 -22 8.0 +0.7
CSB VictoryShares US Small Cap High Dividend Volatility Wtd Idx 11.8 35 3 9.7 +2.5
AFMC First Trust Active Factor Mid Cap ETF 11.6 65 -27 6.4 -0.8
FNX First Trust Mid Cap Core AlphaDEX Fund 11.1 61 -23 6.6 -0.7
KRE SPDR S&P Regional Banking ETF 11.0 35 3 11.6 +4.4
JSML Janus Henderson Small Cap Growth Alpha ETF 10.8 30 8 7.9 +0.6
JKK iShares Morningstar Small-Cap Growth ETF 10.7 30 8 1.2 -6.1
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 10.5 80 -42 5.8 -1.5
VXF Vanguard Extended Market Index Fund 10.3 7 31 3.8 -3.4
BUY USCF SummerHaven SHPEI Index Fund 10.2 80 -42 10.5 +3.3
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 9.9 39 -1 8.0 +0.8
PXMV Invesco S&P MidCap Value with Momentum ETF 9.8 39 -1 10.4 +3.2
MDY SPDR S&P Midcap 400 ETF Trust 9.7 23 15 6.6 -0.7
SPMD SPDR Portfolio Mid Cap ETF 9.7 5 33 6.8 -0.5
IJH iShares Core S&P Mid-Cap ETF 9.7 6 32 6.8 -0.5
BFOR Barron's 400 ETF 9.7 65 -27 6.4 -0.8
QABA First Trust NASDAQ ABA Community Bank Index Fund 9.6 60 -22 11.0 +3.7
IVOO Vanguard S&P Mid-Cap 400 ETF 9.6 10 28 6.6 -0.6
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 9.6 60 -22 8.7 +1.5
PSCF Invesco S&P SmallCap Financials ETF 9.4 29 9 11.8 +4.6
CALF Pacer US Small Cap Cash Cows 100 ETF 9.0 59 -21 13.6 +6.4
XSVM Invesco S&P SmallCap Value with Momentum ETF 9.0 39 -1 12.1 +4.9
VFLQ Vanguard U.S. Liquidity Factor ETF 8.8 14 24 4.8 -2.4

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 U.S. Small Cap 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 9.1 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 38 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.52
 
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.