Principal Price Setters Index ETF
ALTAR
Score™
4.6% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
27.2x P/Sales
ratio
3.9x
P/BV
ratio
5.6x Div.
yield
1.2%


  • 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) $28
Currency USD
Expense ratio 15 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 148
Wgt avg mkt cap (mns) $117,955
Large cap (>$10bn) 97.2%
Mid cap ($2-10bn) 2.8%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CADENCE DESIGN SYS INC 1.7 %
METTLER-TOLEDO INTERNATIONAL 1.4 %
ELI LILLY & CO 1.3 %
MARKETAXESS HOLDINGS INC 1.3 %
VEEVA SYSTEMS INC-CLASS A 1.2 %
APPLE INC 1.1 %
SHERWIN-WILLIAMS CO/THE 1.1 %
FASTENAL CO 1.1 %
INTUIT INC 1.1 %
ACCENTURE PLC-CL A 1.1 %
Total 12.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.4 %
IRELAND 1.7 %
BERMUDA 0.9 %
SWITZERLAND 0.8 %







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.
16.1% 16.1% -- -- 15.4%

Market Correlations
versus... Beta R-squared
S&P500 0.87 94%
MSCI EAFE 0.79 77%
MSCI Emg. Mkts. 0.65 66%

Technical Indicators
Recent close $46.90
30d moving avg. $46.81
Annualized volatility 16.8%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.7%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $71,111

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 98 potential alternatives to the Principal Price Setters Index ETF 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: 15 bp ALTAR Score™: 4.6%


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
(%)
JOET Virtus Terranova US Quality Momentum ETF 40.3 29 -14 4.6 -0.0
FLQL Franklin LibertyQ U.S. Equity ETF 38.2 15 0 5.9 +1.3
JQUA JPMorgan U.S. Quality Factor ETF 35.7 12 3 5.0 +0.4
USMV iShares Edge MSCI Min Vol USA ETF 33.4 15 0 5.3 +0.7
FDLO Fidelity Low Volatility Factor ETF 33.2 29 -14 4.9 +0.3
FQAL Fidelity Quality Factor ETF 32.0 29 -14 5.0 +0.3
QUS SPDR MSCI USA StrategicFactors ETF 31.1 15 0 5.3 +0.6
JMIN JPMorgan U.S. Minimum Volatility ETF 31.1 12 3 5.3 +0.7
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 30.7 9 6 4.8 +0.2
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 29.2 17 -2 6.1 +1.5
FLLV Franklin Liberty U.S. Low Volatility ETF 28.6 29 -14 4.9 +0.3
ESGV Vanguard ESG U.S. Stock ETF 28.5 12 3 4.5 -0.2
KRMA Global X Conscious Companies ETF 28.3 43 -28 4.9 +0.2
VSDA VictoryShares Dividend Accelerator ETF 28.3 35 -20 4.6 +0.0
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 28.3 35 -20 5.1 +0.4
AFLG First Trust Active Factor Large Cap ETF 28.1 55 -40 4.6 +0.0
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 28.0 49 -34 4.2 -0.4
CFA VictoryShares US 500 Volatility Weighted Index ETF 28.0 35 -20 5.0 +0.4
SPLV Invesco S&P 500 Low Volatility ETF 27.7 25 -10 5.5 +0.9
DEF Invesco Defensive Equity ETF 27.6 55 -40 5.2 +0.6
TTAC TrimTabs US Free Cash Flow Quality ETF 27.4 59 -44 3.4 -1.2
RNLC Large Cap US Equity Select ETF 27.3 60 -45 5.2 +0.6
RBUS Nationwide Risk-Based U.S. Equity ETF 27.3 30 -15 4.6 -0.1
QUAL iShares MSCI Usa Quality Factor ETF 27.2 15 0 5.0 +0.4
JHML John Hancock Multifactor Large Cap ETF 27.1 29 -14 4.8 +0.2
JPUS JPMorgan Diversified Return U.S. Equity ETF 27.1 18 -3 5.6 +1.0
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 27.0 30 -15 5.4 +0.7
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 27.0 9 6 5.0 +0.4
LGLV SPDR Russell 1000 Low Volatility ETF 26.7 12 3 5.2 +0.6
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 26.5 35 -20 5.1 +0.4
SPGP Invesco S&P 500 GARP ETF 26.3 34 -19 6.2 +1.6
CLRG IQ Chaikin U.S. Large Cap ETF 26.3 25 -10 5.0 +0.4
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 26.2 20 -5 4.8 +0.1
ROUS Hartford Multifactor US Equity ETF 26.1 19 -4 5.8 +1.2
PBP Invesco S&P 500 BuyWrite ETF 26.1 49 -34 4.3 -0.3
OUSA O'Shares FTSE US Quality Dividend ETF 25.8 48 -33 5.5 +0.8
DYNF BlackRock U.S. Equity Factor Rotation ETF 25.8 30 -15 5.2 +0.6
XYLG Global X S&P 500 Covered Call & Growth ETF 25.7 60 -45 4.4 -0.2
SPXE ProShares S&P 500 Ex-Energy ETF 25.6 27 -12 4.6 -0.0
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 25.6 25 -10 5.8 +1.2
SPY SPDR S&P 500 ETF Trust 25.6 9 6 4.7 +0.0
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 25.5 20 -5 4.6 -0.1
IVV iShares Core S&P 500 ETF 25.5 3 12 4.7 +0.1
SPLG SPDR Portfolio Large Cap ETF 25.5 3 12 4.7 +0.1
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 25.5 17 -2 5.6 +1.0
JMOM JPMorgan U.S. Momentum Factor ETF 25.5 12 3 3.0 -1.7
QLC FlexShares US Quality Large Cap Index Fund 25.4 32 -17 4.4 -0.2
LSLT Salt Low truBeta US Market ETF 25.4 60 -45 5.7 +1.1
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 25.3 19 -4 5.3 +0.7
EPS WisdomTree U.S. Earnings 500 Fund 25.3 8 7 5.9 +1.3
PBUS Invesco PureBeta MSCI USA ETF 25.3 4 11 4.6 -0.0
VOO VANGUARD S&P 500 ETF 25.2 3 12 4.8 +0.2
FLRG Fidelity U.S. Multifactor ETF 25.2 29 -14 5.8 +1.2
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 25.2 7 8 4.5 -0.1
SPXN ProShares S&P 500 Ex-Financials ETF 25.1 27 -12 4.3 -0.3
VV Vanguard Large-Cap Index Fund 25.1 4 11 4.6 -0.1
IQSU IQ Candriam ESG US Equity ETF 25.1 9 6 4.5 -0.1
DSTL Distillate US Fundamental Stability & Value ETF 25.0 39 -24 5.7 +1.1
SPHQ Invesco S&P 500 Quality ETF 25.0 15 0 4.4 -0.3
JCTR JPMorgan Carbon Transition U.S. Equity ETF 25.0 15 0 4.6 +0.0
CATH Global X S&P 500 Catholic Values Custom ETF 24.9 29 -14 4.6 -0.1
VOOG Vanguard S&P 500 Growth ETF 24.9 10 5 3.9 -0.8
RSP Invesco S&P 500 Equal Weight ETF 24.9 20 -5 5.6 +1.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 24.8 2 13 4.6 -0.0
IWF iShares Russell 1000 Growth ETF 24.8 19 -4 3.4 -1.2
SCHX Schwab U.S. Large-Cap ETF 24.8 3 12 4.5 -0.1
TPLC Timothy Plan US Large Cap Core ETF 24.6 52 -37 4.4 -0.2
HUSV First Trust Horizon Managed Volatility Domestic ETF 24.5 70 -55 4.8 +0.2
VIG Vanguard Dividend Appreciation Index Fund 24.4 6 9 5.0 +0.4
SPTM SPDR Portfolio Total Stock Market ETF 24.3 3 12 4.8 +0.2
SCHK Schwab 1000 Index ETF 24.3 5 10 4.6 -0.1
IWB iShares Russell 1000 ETF 24.3 15 0 4.4 -0.2
XVV iShares ESG Screened S&P 500 ETF 24.2 8 7 4.9 +0.2
VONG Vanguard Russell 1000 Growth Index Fund 24.2 8 7 3.5 -1.1
EQWL Invesco Russell Top 200 Equal Weight ETF 24.1 25 -10 5.6 +1.0
IYY iShares Dow Jones U.S. ETF 24.1 20 -5 4.4 -0.2
ESGU iShares MSCI USA ESG Optimized ETF 24.1 15 0 4.4 -0.2
XOUT GraniteShares XOUT U.S. Large Cap ETF 24.1 60 -45 3.6 -1.1
IWP iShares Russell Mid-Cap Growth ETF 24.1 24 -9 2.6 -2.0
RESP WisdomTree US ESG Fund of Benef Interest 24.1 28 -13 5.0 +0.4
MGC Vanguard Mega Cap Index Fund 24.1 7 8 4.6 -0.1
SPYG SPDR Portfolio S&P 500 Growth ETF 24.0 4 11 3.6 -1.0
IVW iShares S&P 500 Growth ETF 24.0 18 -3 3.5 -1.1
VOOV Vanguard S&P 500 Value ETF 23.9 10 5 6.6 +2.0
LEAD Reality Shares DIVCON Leaders Dividend ETF 23.9 43 -28 4.8 +0.2
PFM Invesco Dividend Achievers ETF 23.8 53 -38 5.0 +0.4
VTHR Vanguard Russell 3000 Index Fund 23.8 10 5 4.4 -0.3
SFY SoFi Select 500 ETF 23.7 0 15 4.6 -0.1
BKLC BNY Mellon US Large Cap Core Equity ETF 23.7 0 15 4.4 -0.2
ETHO Etho Climate Leadership U.S. ETF 23.7 47 -32 3.6 -1.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 23.6 30 -15 5.0 +0.4
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 23.6 15 0 5.8 +1.2
IUSG iShares Core S&P US Growth ETF 23.6 4 11 3.6 -1.0
DFND Reality Shares DIVCON Dividend Defender ETF 23.6 144 -129 3.9 -0.8
FTC First Trust Large Cap Growth AlphaDEX Fund 23.5 61 -46 2.2 -2.4
VFQY Vanguard U.S. Quality Factor ETF 23.5 13 2 5.3 +0.7
DGRO iShares Core Dividend Growth ETF 23.4 8 7 6.0 +1.4
DLN WisdomTree U.S. LargeCap Dividend Fund 23.3 28 -13 6.1 +1.5

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 Price Setters 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 23.2 %
Divided by: Fwd. P/BV 4.9 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 4.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.59 CATEGORY
AVERAGE
1.49
 
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.