Principal Contrarian Value Index
ALTAR
Score™
7.2% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
14.8x P/Sales
ratio
1.0x
P/BV
ratio
1.7x Div.
yield
2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The investment seeks to provide investment results that closely correspond, before expenses, to the performance of the Nasdaq U.S. Contrarian Value Index . The index uses a quantitative model designed to identify equity securities in the Nasdaq US Large Mid Cap Index that appear to be undervalued by the market relative to their fundamental value, when taking multiple market environments into consideration.

FUND BASICS
Category US Equities
Fund Sponsor The Principal Financial Group
Website www.principalfunds.com
Inception date Oct 19, 2017
Assets (mns) $6
Currency USD
Expense ratio 29 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 272
Wgt avg mkt cap (mns) $20,727
Large cap (>$10bn) 41.5%
Mid cap ($2-10bn) 58.2%
Small cap (<$2bn) 0.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
MASTEC INC 0.9 %
PILGRIM'S PRIDE CORP 0.9 %
PULTE HOMES INC 0.8 %
KANSAS CITY SOUTHERN 0.8 %
DENTSPLY SIRONA, INC. 0.8 %
JABIL CIRCUIT INC 0.8 %
MARVELL TECHNOLOGY GROUP LTD 0.8 %
GRAPHIC PACKAGING HOLDING CO 0.7 %
DR HORTON INC 0.7 %
PERSPECTA, INC. 0.7 %
Total 7.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.6 %
IRELAND 2.3 %
BERMUDA 1.9 %
SWITZERLAND 1.0 %
BRITAIN 0.2 %






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.
21.0% 10.0% -- -- 4.8%

Market Correlations
versus... Beta R-squared
S&P500 1.15 92%
MSCI EAFE 1.19 74%
MSCI Emg. Mkts. 0.86 61%

Technical Indicators
Recent close $27.80
30d moving avg. $26.91
Annualized volatility 17.5%
Short interest (ETF) 0.1%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 0
Turnover 0.0%
Bid/Ask (% of price) 0.20%
ADV underlying (mns) $32,010

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: PVAL Expense: 29 bp ALTAR Score™: 7.2%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PVAL
Ticker Fund
Name
Overlap1
vs PVAL
(%)
Expense
ratio
(bp)
Savings
vs PVAL
(bp)
ALTAR
Score™
(%)
ALTAR
vs PVAL
(%)
OMFL Oppenheimer Russell 1000 Dynamic Multifactor 31.4 29 0 9.6 +2.4
FAB First Trust Multi Cap Value 30.2 71 -42 8.6 +1.4
IWS iShares Russell Midcap Value 29.9 24 5 7.1 -0.1
USEQ Invesco Russell 1000 Enhanced Equal Weight 29.0 29 0 6.7 -0.5
JVAL JPMorgan U.S. Value Factor 28.9 12 17 8.6 +1.4
FNK First Trust Mid Cap Value AlphaDEX 28.0 70 -41 9.1 +1.9
SCHM Schwab US Mid Cap 27.5 4 25 6.4 -0.8
FNX First Trust Mid Cap Core Alpadex 27.4 62 -33 6.8 -0.4
JHMM John Hancock Multifactor Mid Cap 26.9 44 -15 6.0 -1.2
ULVM USAA MSCI USA Value Momentum Blend Index 26.7 20 9 7.8 +0.6
DON WisdomTree Midcap Dividend 26.5 38 -9 7.1 -0.1
OSIZ Invesco Russell 1000 Size Factor ETF 26.3 19 10 6.4 -0.8
TUSA First Trust Total US Market AlphaDEX 26.1 70 -41 6.7 -0.5
EUSA iShares MSCI USA Equal Weight 25.6 15 14 6.6 -0.6
RSP Invesco S&P 500 Equal Weight 25.5 20 9 6.9 -0.3
EZM WisdomTree Midcap Earnings 25.5 38 -9 7.8 +0.6
RVRS Reverse Cap Weighted US Large Cap 25.4 29 0 8.0 +0.8
FLAG Forensic Accounting 25.4 152 -123 8.6 +1.4
CFO Victory CEMP US 500 Enhanced Volatility Wtd 25.3 35 -6 6.1 -1.1
CFA Compass EMP US 500 Volatility Weighted 25.3 35 -6 6.1 -1.1

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 Contrarian Value Index
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 11.8 %
Divided by: Fwd. P/BV 1.6 x
Less: Expense ratio 29 bp
Equals: ALTAR Score 7.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 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.