Principal Price Setters
ALTAR
Score™
5.5% info Recommen-
dation
NEUTRAL
2019E    2020E
P/E
ratio
20.2x P/Sales
ratio
3.3x
P/BV
ratio
4.9x Div.
yield
1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Principal Price Setters Index ETF tracks an index of large-cap US firms with a high degree of pricing power. Holdings are selected by several fundamental and technical factors, and weighted equally within three tiers.

FUND BASICS
Category US Equities
Fund Sponsor The Principal Financial Group
Website www.principaletfs.com
Inception date Mar 21, 2016
Assets (mns) $14
Currency USD
Expense ratio 29 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian
Weighting Tiered
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 147
Wgt avg mkt cap (mns) $79,430
Large cap (>$10bn) 95.5%
Mid cap ($2-10bn) 4.5%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
RESMED INC 1.3 %
MSCI INC-A 1.2 %
MICROSOFT CORP 1.2 %
ALLEGION PLC 1.2 %
HERSHEY CO/THE 1.2 %
HOME DEPOT INC 1.2 %
ANSYS INC 1.2 %
ZOETIS INC 1.2 %
MOODY'S CORP 1.2 %
JPMORGAN CHASE & CO 1.2 %
Total 11.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.0 %
IRELAND 3.4 %
SWITZERLAND 1.5 %








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.
26.5% 19.6% -- -- 13.9%

Market Correlations
versus... Beta R-squared
S&P500 0.91 93%
MSCI EAFE 0.77 56%
MSCI Emg. Mkts. 0.52 43%

Technical Indicators
Recent close $39.54
30d moving avg. $38.49
Annualized volatility 11.4%
Short interest (ETF) 1.6%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 8
Turnover 2.3%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $42,449

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PSET Expense: 29 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSET
Ticker Fund
Name
Overlap1
vs PSET
(%)
Expense
ratio
(bp)
Savings
vs PSET
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSET
(%)
FCTR First Trust Lunt U.S. Factor Rotation 39.1 65 -36 3.5 -2.1
PLC Principal U.S. Large-Cap Multi-Factor Core Index 37.3 15 14 5.5 -0.1
FLQL Franklin LibertyQ U.S. Equity 34.4 15 14 6.9 +1.3
FQAL Fidelity Quality Factor 33.8 29 0 5.8 +0.3
DEF Invesco Defensive Equity 33.4 59 -30 4.9 -0.6
JQUA JPMorgan U.S. Quality Factor 32.9 12 17 5.8 +0.3
KRMA Global X Conscious Companies 32.6 43 -14 6.2 +0.7
FTC First Trust Large Cap Growth 32.3 61 -32 3.7 -1.9
QUS SPDR MSCI USA Quality Mix 32.2 15 14 6.0 +0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity 32.1 9 20 6.4 +0.9
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 31.8 75 -46 4.7 -0.8
USMV iShares MSCI USA Minimum Volatility 30.7 15 14 5.2 -0.3
DYNF BlackRock U.S. Equity Factor Rotation 30.6 30 -1 6.6 +1.0
RNLC Large Cap US Equity Select 29.8 60 -31 6.4 +0.9
FLQM Franklin LibertyQ U.S. Mid Cap Equity 29.8 30 -1 6.8 +1.3
FDLO Fidelity Low Volatility Factor 29.5 29 0 5.4 -0.2
QUAL iShares MSCI USA Quality Factor 29.2 15 14 6.1 +0.5
SPXE ProShares S&P 500 Ex-Energy 29.1 27 2 5.9 +0.4
PBP Invesco S&P 500 Buy/Write 29.1 49 -20 5.6 +0.0
SPYX SPDR S&P 500 Fossil Fuel Reserves Free 29.0 20 9 6.0 +0.4

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%.

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 Price Setters
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 24.6 %
Divided by: Fwd. P/BV 4.2 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.66 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.