Principal U.S. Small-MidCap Multi-Factor Core Index ETF
ALTAR
Score™
8.1% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
24.0x P/Sales
ratio
1.1x
P/BV
ratio
1.7x Div.
yield
1.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
Principal U.S. Small-MidCap Multi-Factor Core Index ETF tracks a multi-factor selected and weighted index of U.S. mid- and large-equities.

FUND BASICS
Category US Equities
Fund Sponsor The Principal Financial Group
Website www.principalfunds.com
Inception date Jul 23, 2019
Assets (mns) $11
Currency USD
Expense ratio 20 bp
Distributions Quarterly

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

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 648
Wgt avg mkt cap (mns) $7,025
Large cap (>$10bn) 16.0%
Mid cap ($2-10bn) 67.4%
Small cap (<$2bn) 16.6%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
INVESCO LTD 0.6 %
SPIRIT AEROSYSTEMS HOLD-CL A 0.6 %
COMERICA INC 0.6 %
F5 NETWORKS INC 0.6 %
EXPEDIA INC 0.6 %
M & T BANK CORP 0.6 %
DAVITA INC 0.6 %
FIRST HORIZON NATIONAL CORP 0.5 %
AXALTA COATING SYSTEMS LTD. 0.5 %
CROWN HOLDINGS INC 0.5 %
Total 5.6 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.0 %
IRELAND 3.1 %
BERMUDA 1.8 %
PUERTO RICO 0.4 %
CANADA 0.1 %
NETHERLANDS 0.0 %
LUXEMBOURG 0.0 %




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.
-10.2% -4.6% -- -- -0.9%

Market Correlations
versus... Beta R-squared
S&P500 1.21 88%
MSCI EAFE 1.27 88%
MSCI Emg. Mkts. 0.99 80%

Technical Indicators
Recent close $27.18
30d moving avg. $25.33
Annualized volatility 28.4%
Short interest (ETF) 0.0%
Relative strength (RSI) 60

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.32%
ADV underlying (mns) $21,805

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Principal U.S. Small-MidCap Multi-Factor Core Index ETF ETF based on the alternatives' overlap in portfolio holdings with PSM. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PSM Expense: 20 bp ALTAR Score™: 8.1%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PSM
Ticker Fund
Name
Overlap1
vs PSM
(%)
Expense
ratio
(bp)
Savings
vs PSM
(bp)
ALTAR
Score™
(%)
ALTAR
vs PSM
(%)
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 42.7 29 -9 8.2 +0.1
VBR Vanguard Small Cap Value Index Fund 39.4 7 13 7.4 -0.8
EZM WisdomTree U.S. MidCap Earnings Fund 38.5 38 -18 7.9 -0.2
RNMC Mid Cap US Equity Select ETF 36.5 60 -40 6.5 -1.6
SCHM Schwab U.S. Mid-Cap ETF 36.4 4 16 5.5 -2.6
FNX First Trust Mid Cap Core AlphaDEX Fund 35.3 61 -41 5.9 -2.2
DON WisdomTree U.S. MidCap Dividend Fund 34.2 38 -18 7.0 -1.1
FNK First Trust Mid Cap Value AlphaDEX Fund 33.6 70 -50 9.0 +0.8
MDY SPDR S&P Midcap 400 ETF Trust 32.8 23 -3 5.8 -2.3
SPMD SPDR Portfolio Mid Cap ETF 32.8 5 15 6.0 -2.1
IJH iShares Core S&P Mid-Cap ETF 32.8 5 15 6.0 -2.1
IVOO Vanguard S&P Mid-Cap 400 ETF 32.3 10 10 5.9 -2.2
FSMD Fidelity Small-Mid Factor ETF 32.1 29 -9 5.8 -2.3
VB Vanguard Small-Cap ETF 31.6 5 15 5.0 -3.2
PSC Principal U.S. Small Cap Index ETF 31.5 38 -18 5.5 -2.6
EWMC Invesco S&P MidCap 400 Equal Weight ETF 31.4 40 -20 6.4 -1.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 31.2 6 14 4.6 -3.5
BKSE BNY Mellon US Small Cap Core Equity ETF 31.1 4 16 5.2 -2.9
FAB First Trust Multi Cap Value AlphaDEX Fund 29.7 71 -51 8.6 +0.5
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 29.3 7 13 4.7 -3.4
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 29.0 17 3 4.4 -3.7
ONEY SPDR Russell 1000 Yield Focus ETF 28.8 20 0 7.9 -0.2
AFMC First Trust Active Factor Mid Cap ETF 28.6 65 -45 5.9 -2.2
SMDY Syntax Stratified MidCap ETF 28.1 30 -10 6.0 -2.1
SCHA Schwab U.S. Small-Cap ETF 27.9 4 16 4.3 -3.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 27.8 24 -4 5.7 -2.4
MDYV SPDR S&P 400 Mid Cap Value ETF 27.3 15 5 7.5 -0.6
RWK Invesco S&P MidCap 400 Revenue ETF 27.3 39 -19 7.1 -1.0
IJJ iShares S&P Mid-Cap 400 Value ETF 27.3 25 -5 7.4 -0.7
SFYX Sofi Next 500 ETF 27.1 0 20 5.4 -2.7
ONEV SPDR Russell 1000 Low Volatility Focus ETF 26.9 20 0 6.5 -1.6
IVOV Vanguard S&P Mid-Cap 400 Value ETF 26.0 15 5 7.6 -0.5
JKL iShares Morningstar Small Cap Value ETF 25.6 30 -10 8.7 +0.6
JHMM John Hancock Multifactor Mid Cap ETF 25.1 42 -22 5.1 -3.0
RVRS Reverse Cap Weighted U.S. Large Cap ETF 24.1 29 -9 6.7 -1.4
VFVA Vanguard U.S. Value Factor ETF 22.7 14 6 9.8 +1.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 22.1 29 -9 6.3 -1.8
SMMD iShares Russell 2500 ETF 22.0 15 5 5.3 -2.8
BUY USCF SummerHaven SHPEI Index Fund 21.7 80 -60 8.9 +0.8
FNDA Schwab Fundamental U.S. Small Co. Index ETF 21.6 25 -5 6.5 -1.6
IWS iShares Russell Mid-Cap Value ETF 21.5 24 -4 6.4 -1.7
JHSC John Hancock Multifactor Small Cap ETF 21.3 42 -22 5.1 -3.0
VXF Vanguard Extended Market Index Fund 21.0 6 14 3.0 -5.1
IUSS Invesco Strategic US Small Company ETF 21.0 23 -3 4.6 -3.5
VUSE Vident Core US Equity Fund 20.7 48 -28 8.2 +0.1
ONEO SPDR Russell 1000 Momentum Focus ETF 20.6 20 0 6.0 -2.1
IWM iShares Russell 2000 ETF 20.3 19 1 3.0 -5.1
EQAL Invesco Russell 1000 Equal Weight ETF 20.2 20 0 5.4 -2.7
VTWO Vanguard Russell 2000 Index Fund 20.2 10 10 3.1 -5.0
JVAL JPMorgan U.S. Value Factor ETF 20.0 12 8 7.7 -0.4
TUSA First Trust Total US Market AlphaDEX ETF 20.0 70 -50 5.5 -2.7
NUSC Nuveen ESG Small-Cap ETF 19.8 40 -20 4.4 -3.7
MDYG SPDR S&P 400 Mid Cap Growth ETF 19.1 15 5 4.7 -3.5
IJK iShares S&P Mid-Cap 400 Growth ETF 19.1 24 -4 4.6 -3.5
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 19.0 17 3 6.0 -2.1
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 18.9 20 0 4.3 -3.8
STMB iShares Factors US Mid Blend Style ETF 18.7 30 -10 5.3 -2.8
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 18.4 15 5 4.7 -3.5
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 17.9 30 -10 5.3 -2.8
VFMF Vanguard U.S. Multifactor ETF 17.8 19 1 6.7 -1.4
PY Principal Shareholder Yield Index ETF 17.7 15 5 8.1 +0.0
TPLC Timothy Plan US Large Cap Core ETF 17.5 52 -32 4.7 -3.4
IWR iShares Russell Midcap ETF 17.3 19 1 5.1 -3.0
AUSF Global X Adaptive U.S. Factor ETF 17.2 27 -7 8.6 +0.5
VFQY Vanguard U.S. Quality Factor ETF 17.0 13 7 6.0 -2.1
IWN iShares Russell 2000 Value ETF 17.0 24 -4 6.0 -2.2
VBK Vanguard Small-Cap Growth Index Fund 16.5 7 13 2.0 -6.1
COWZ Pacer US Cash Cows 100 ETF 16.4 49 -29 10.8 +2.7
VTWV Vanguard Russell 2000 Value Index Fund 16.3 15 5 6.1 -2.0
JPUS JPMorgan Diversified Return U.S. Equity ETF 16.2 18 2 5.9 -2.3
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 16.1 24 -4 6.1 -2.1
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 16.1 60 -40 6.9 -1.3
JKJ iShares Morningstar Small-Cap ETF 16.0 25 -5 5.8 -2.3
AVUV Avantis U.S. Small Cap Value ETF 15.9 25 -5 7.2 -0.9
VALQ American Century STOXX U.S. Quality Value ETF 15.8 29 -9 7.9 -0.2
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 15.6 25 -5 5.8 -2.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 15.6 29 -9 4.6 -3.5
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 15.5 39 -19 4.2 -3.9
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 15.4 30 -10 7.0 -1.1
JKI iShares Morningstar Mid-Cap Value ETF 15.3 30 -10 8.0 -0.1
USMF WisdomTree U.S. Multifactor Fund 15.1 28 -8 5.6 -2.5
RSP Invesco S&P 500 Equal Weight ETF 15.1 20 0 6.0 -2.1
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 14.7 35 -15 5.4 -2.7
CFA VictoryShares US 500 Volatility Weighted Index ETF 14.7 35 -15 5.4 -2.7
QSY WisdomTree U.S. LargeCap Value Fund 14.7 38 -18 6.1 -2.0
SZNE Pacer CFRA-Stovall Equal Weight Seasonal Rotation ETF 14.7 60 -40 6.0 -2.2
SIZE iShares MSCI USA Size Factor ETF 14.6 15 5 5.6 -2.5
EUSA iShares MSCI USA Equal Weighted ETF 14.3 15 5 5.7 -2.5
VOE Vanguard Mid-Cap Value Index Fund 14.3 7 13 7.0 -1.1
CSA VictoryShares US Small Cap Volatility Weighted Index ETF 14.3 35 -15 7.0 -1.1
FYX First Trust Small Cap Core AlphaDEX Fund 14.3 63 -43 6.7 -1.4
RNSC Small Cap US Equity Select ETF 14.2 60 -40 7.1 -1.0
BFOR Barron's 400 ETF 14.1 65 -45 6.2 -2.0
JDIV JPMorgan U.S. Dividend ETF 14.1 12 8 7.2 -1.0
TPSC Timothy Plan US Small Cap Core ETF 14.0 52 -32 6.7 -1.4
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 13.8 25 -5 7.1 -1.0
CSF VictoryShares US Discovery Enhanced Volatility Weighted Idx 13.7 35 -15 7.2 -0.9
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 13.6 80 -60 5.3 -2.8
VFLQ Vanguard U.S. Liquidity Factor ETF 13.6 14 6 3.8 -4.3
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 13.6 63 -43 5.8 -2.3

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-MidCap Multi-Factor Core Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 13.4 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 20 bp
Equals: ALTAR Score 8.1 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.50
 
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.