Principal Price Setters Index ETF
ALTAR
Score™
4.8% info Recommen-
dation
UNDERWEIGHT
2020E    2021E
P/E
ratio
26.3x P/Sales
ratio
3.7x
P/BV
ratio
5.3x Div.
yield
1.3%


  • 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) $24
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) $109,155
Large cap (>$10bn) 95.0%
Mid cap ($2-10bn) 5.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
CADENCE DESIGN SYS INC 1.5 %
MARKETAXESS HOLDINGS INC 1.5 %
VEEVA SYSTEMS INC-CLASS A 1.3 %
METTLER-TOLEDO INTERNATIONAL 1.3 %
ADOBE SYSTEMS INC 1.2 %
COPART INC 1.2 %
WEST PHARMACEUTICAL SERVICES 1.1 %
CHURCH & DWIGHT CO INC 1.1 %
MICROSOFT CORP 1.1 %
CLOROX COMPANY 1.1 %
Total 12.4 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
IRELAND 1.6 %
BERMUDA 0.9 %
SWITZERLAND 0.7 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
4.1% 12.4% -- -- 13.5%

Market Correlations
versus... Beta R-squared
S&P500 0.87 93%
MSCI EAFE 0.87 76%
MSCI Emg. Mkts. 0.63 64%

Technical Indicators
Recent close $43.82
30d moving avg. $43.00
Annualized volatility 16.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 4
Turnover 0.7%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $75,047

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 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™: 4.8%


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
(%)
FLQL Franklin LibertyQ U.S. Equity ETF 39.0 15 0 6.0 +1.3
JQUA JPMorgan U.S. Quality Factor ETF 36.3 12 3 5.2 +0.5
FCTR First Trust Lunt U.S. Factor Rotation ETF 35.3 65 -50 2.9 -1.9
USMV iShares Edge MSCI Min Vol USA ETF 34.6 15 0 5.4 +0.7
FDLO Fidelity Low Volatility Factor ETF 33.6 29 -14 5.1 +0.3
QUS SPDR MSCI USA StrategicFactors ETF 33.0 15 0 5.7 +0.9
FQAL Fidelity Quality Factor ETF 32.7 29 -14 5.3 +0.5
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 32.0 9 6 5.4 +0.6
DEF Invesco Defensive Equity ETF 31.8 55 -40 5.1 +0.4
JMIN JPMorgan U.S. Minimum Volatility ETF 31.4 12 3 5.4 +0.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 30.7 17 -2 6.6 +1.9
USLB Invesco Russell 1000 Low Beta Equal Weight ETF 30.4 35 -20 5.3 +0.6
CFA VictoryShares US 500 Volatility Weighted Index ETF 29.9 35 -20 5.6 +0.8
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 29.9 35 -20 5.6 +0.8
RPG Invesco S&P 500 Pure Growth ETF 29.6 35 -20 4.3 -0.4
LEAD Reality Shares DIVCON Leaders Dividend ETF 29.1 43 -28 4.3 -0.4
DFND Reality Shares DIVCON Dividend Defender ETF 29.1 144 -129 3.4 -1.4
SCIU Global X Scientific Beta US ETF 28.9 19 -4 0.0 -4.8
AFLG First Trust Active Factor Large Cap ETF 28.8 55 -40 5.2 +0.5
JMOM JPMorgan U.S. Momentum Factor ETF 28.5 12 3 3.3 -1.5
JPUS JPMorgan Diversified Return U.S. Equity ETF 28.5 18 -3 6.0 +1.3
JHML John Hancock Multifactor Large Cap ETF 28.5 29 -14 5.3 +0.6
FTC First Trust Large Cap Growth AlphaDEX Fund 28.5 61 -46 2.7 -2.1
VSDA VictoryShares Dividend Accelerator ETF 28.5 35 -20 4.7 -0.1
FVL First Trust Value Line 100 Exchange-Traded Fund 28.4 70 -55 5.2 +0.4
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 28.2 9 6 5.8 +1.1
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 27.8 30 -15 5.5 +0.7
RNLC Large Cap US Equity Select ETF 27.7 60 -45 6.0 +1.2
RBUS Nationwide Risk-Based U.S. Equity ETF 27.7 30 -15 4.6 -0.2
PBP Invesco S&P 500 BuyWrite ETF 27.5 49 -34 4.8 +0.0
HSPX Global X S&P 500 Covered Call ETF 27.4 60 -45 4.8 +0.0
QUAL iShares MSCI Usa Quality Factor ETF 27.3 15 0 5.2 +0.5
PDP Invesco DWA Momentum ETF 27.2 62 -47 2.3 -2.5
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 27.2 17 -2 6.2 +1.4
CLRG IQ Chaikin U.S. Large Cap ETF 27.2 25 -10 5.7 +0.9
LGLV SPDR Russell 1000 Low Volatility ETF 27.2 12 3 5.4 +0.7
XYLG Global X S&P 500 Covered Call & Growth ETF 27.0 60 -45 4.8 +0.1
SPLV Invesco S&P 500 Low Volatility ETF 27.0 25 -10 5.4 +0.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 27.0 20 -5 5.1 +0.4
ALTL Pacer Lunt Large Cap Alternator ETF 26.9 60 -45 5.1 +0.3
ROUS Hartford Multifactor US Equity ETF 26.8 19 -4 6.3 +1.5
IVV iShares Core S&P 500 ETF 26.8 3 12 5.2 +0.4
SPY SPDR S&P 500 ETF Trust 26.8 9 6 5.1 +0.4
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 26.8 75 -60 3.7 -1.0
SPLG SPDR Portfolio Large Cap ETF 26.8 3 12 5.2 +0.4
KRMA Global X Conscious Companies ETF 26.8 43 -28 5.0 +0.2
CHGX Change Finance U.S. Large Cap Fossil Fuel Free ETF 26.7 49 -34 4.9 +0.1
SPXE ProShares S&P 500 Ex-Energy ETF 26.7 27 -12 5.1 +0.3
DYNF BlackRock U.S. Equity Factor Rotation ETF 26.6 30 -15 6.4 +1.7
PBUS Invesco PureBeta MSCI USA ETF 26.6 4 11 5.0 +0.3
VOO VANGUARD S&P 500 ETF 26.6 3 12 5.2 +0.5
VOOG Vanguard S&P 500 Growth ETF 26.4 10 5 4.1 -0.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 26.3 7 8 5.0 +0.2
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 26.1 19 -4 5.9 +1.1
TPLC Timothy Plan US Large Cap Core ETF 26.1 52 -37 5.2 +0.4
TTAC TrimTabs All Cap U.S. Free-Cash-Flow ETF 26.1 59 -44 3.8 -1.0
VV Vanguard Large-Cap Index Fund 26.1 4 11 5.0 +0.3
SPXN ProShares S&P 500 Ex-Financials ETF 26.1 27 -12 4.8 0.0
XRLV Invesco S&P 500 ex-Rate Sensitive Low Volatility ETF 26.0 25 -10 5.8 +1.0
BBUS JP Morgan Betabuilders U.S. Equity ETF 26.0 2 13 5.0 +0.3
LSLT Salt Low truBeta US Market ETF 26.0 60 -45 5.6 +0.9
IVW iShares S&P 500 Growth ETF 25.9 18 -3 16.7 +12.0
SPYG SPDR Portfolio S&P 500 Growth ETF 25.9 4 11 4.2 -0.6
SCHX Schwab U.S. Large-Cap ETF 25.9 3 12 5.0 +0.2
SPTM SPDR Portfolio Total Stock Market ETF 25.8 3 12 5.3 +0.6
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 25.7 15 0 6.1 +1.3
FLRG Fidelity U.S. Multifactor ETF 25.7 29 -14 6.2 +1.5
EXT WisdomTree U.S. Total Earnings Fund 25.7 28 -13 5.3 +0.6
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 25.7 20 -5 4.7 -0.0
IWF iShares Russell 1000 Growth ETF 25.6 19 -4 3.6 -1.1
RSP Invesco S&P 500 Equal Weight ETF 25.6 20 -5 6.4 +1.7
KLCD KFA Large Cap Quality Dividend Index ETF 25.6 42 -27 5.3 +0.6
IUSG iShares Core S&P US Growth ETF 25.5 4 11 4.2 -0.5
QLC FlexShares US Quality Large Cap Index Fund 25.5 32 -17 5.0 +0.3
FLLV Franklin Liberty U.S. Low Volatility ETF 25.5 29 -14 5.4 +0.6
CATH Global X S&P 500 Catholic Values Custom ETF 25.5 29 -14 4.9 +0.2
IWB iShares Russell 1000 ETF 25.5 15 0 4.9 +0.1
SCHK Schwab 1000 Index ETF 25.5 5 10 5.0 +0.3
ESGU iShares MSCI USA ESG Optimized ETF 25.4 15 0 4.9 +0.1
IYY iShares Dow Jones U.S. ETF 25.3 20 -5 4.9 +0.1
IWP iShares Russell Mid-Cap Growth ETF 25.3 24 -9 2.9 -1.9
ETHO Etho Climate Leadership U.S. ETF 25.3 47 -32 4.3 -0.5
VONG Vanguard Russell 1000 Growth Index Fund 25.2 8 7 3.7 -1.0
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 25.1 29 -14 5.8 +1.1
VONE Vanguard Russell 1000 ETF 25.1 8 7 5.0 +0.2
VIG Vanguard Dividend Appreciation Index Fund 25.0 6 9 5.1 +0.4
EPS WisdomTree U.S. Earnings 500 Fund 25.0 8 7 6.3 +1.5
ESGV Vanguard ESG U.S. Stock ETF 25.0 12 3 4.9 +0.1
MGC Vanguard Mega Cap Index Fund 24.9 7 8 5.0 +0.2
PFM Invesco Dividend Achievers ETF 24.9 53 -38 5.2 +0.5
BKLC BNY Mellon US Large Cap Core Equity ETF 24.8 0 15 4.9 +0.2
VTHR Vanguard Russell 3000 Index Fund 24.7 10 5 4.8 +0.1
MMTM SPDR S&P 1500 Momentum Tilt ETF 24.6 12 3 4.5 -0.3
XOUT GraniteShares XOUT U.S. Large Cap ETF 24.5 60 -45 4.0 -0.8
SFY SoFi Select 500 ETF 24.5 0 15 5.0 +0.2
SCHB Schwab U.S. Broad Market ETF 24.5 3 12 4.9 +0.2
IWV iShares Russell 3000 ETF 24.5 20 -5 4.8 +0.0
ITOT iShares Core S&P Total U.S. Stock Market ETF 24.4 3 12 4.9 +0.1
QWLD SPDR MSCI World StrategicFactors ETF 24.4 30 -15 6.0 +1.2
EQWL Invesco Russell Top 200 Equal Weight ETF 24.2 25 -10 6.1 +1.4

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 Price Setters Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 23.0 %
Divided by: Fwd. P/BV 4.7 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 4.8 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.60 CATEGORY
AVERAGE
1.51
 
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.