Principal Shareholder Yield Index ETF
ALTAR
Score™
10.0% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
15.8x P/Sales
ratio
0.9x
P/BV
ratio
1.5x Div.
yield
3.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Principal Shareholder Yield Index ETF tracks an index of dividend-paying large- and midcap US stocks that are selected by several fundamental factors, including dividend yield and buyback yield. Holdings are equally weighted within two 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 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 129
Wgt avg mkt cap (mns) $43,255
Large cap (>$10bn) 58.4%
Mid cap ($2-10bn) 39.3%
Small cap (<$2bn) 2.3%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ADT, INC. 4.0 %
VMWARE INC-CLASS A 3.8 %
ALTRIA GROUP INC 1.8 %
ONEMAIN HOLDINGS, INC. 1.8 %
PACCAR INC 1.6 %
HANOVER INSURANCE GROUP INC/ 1.6 %
CUBESMART 1.6 %
WATSCO INC 1.5 %
PHILIP MORRIS INTERNATIONAL 1.5 %
ABBVIE INC 1.5 %
Total 20.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.1 %
IRELAND 1.0 %
SWITZERLAND 0.6 %
PUERTO RICO 0.5 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru August 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-11.1% 0.7% -- -- 6.3%

Market Correlations
versus... Beta R-squared
S&P500 1.30 90%
MSCI EAFE 1.38 85%
MSCI Emg. Mkts. 0.98 68%

Technical Indicators
Recent close $28.30
30d moving avg. $29.71
Annualized volatility 24.0%
Short interest (ETF) 0.0%
Relative strength (RSI) 37

Liquidity measures
Avg. volume (thou.) 27
Turnover 5.4%
Bid/Ask (% of price) 0.35%
ADV underlying (mns) $5,455

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the Principal Shareholder Yield Index ETF ETF based on the alternatives' overlap in portfolio holdings with PY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: PY Expense: 15 bp ALTAR Score™: 10.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH PY
Ticker Fund
Name
Overlap1
vs PY
(%)
Expense
ratio
(bp)
Savings
vs PY
(bp)
ALTAR
Score™
(%)
ALTAR
vs PY
(%)
QSY WisdomTree U.S. LargeCap Value Fund 29.2 38 -23 7.0 -3.0
ONEY SPDR Russell 1000 Yield Focus ETF 26.8 20 -5 9.3 -0.7
ESGS Columbia Sustainable U.S. Equity Income ETF 24.1 35 -20 9.2 -0.8
JVAL JPMorgan U.S. Value Factor ETF 23.4 12 3 9.0 -1.0
SPYD SPDR S&P 500 High Dividend ETF 23.1 7 8 11.7 +1.7
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 23.0 29 -14 9.8 -0.3
CDL VictoryShares US Large Cap High Dividend Volatility Wtd Idx 22.9 35 -20 8.7 -1.3
DTN WisdomTree U.S. Dividend ex-Financials Fund 22.5 38 -23 8.1 -1.9
QDYN FlexShares Quality Dividend Dynamic Index Fund 22.3 37 -22 7.1 -3.0
FXO First Trust Financials AlphaDEX Fund 22.3 63 -48 13.5 +3.5
FTA First Trust Large Cap Value AlphaDEX Fund 22.0 60 -45 9.6 -0.5
DIVB iShares U.S. Dividend & Buyback ETF 21.3 25 -10 7.3 -2.8
USDY Pacific Global US Equity Income ETF 21.3 29 -14 7.2 -2.8
JKI iShares Morningstar Mid-Cap Value ETF 21.1 30 -15 9.3 -0.7
COWZ Pacer US Cash Cows 100 ETF 21.1 49 -34 10.9 +0.8
QDIV Global X S&P 500 Quality Dividend ETF 20.7 20 -5 7.9 -2.2
MAGA Point Bridge GOP Stock Tracker ETF 20.6 72 -57 6.5 -3.5
RPV Invesco S&P 500 Pure Value ETF 20.0 35 -20 11.4 +1.4
SPDV AAM S&P 500 High Dividend Value ETF 19.8 29 -14 10.3 +0.3
DON WisdomTree U.S. MidCap Dividend Fund 19.8 38 -23 7.9 -2.1
DSTL Distillate US Fundamental Stability & Value ETF 19.6 39 -24 7.0 -3.1
TPHD Timothy Plan High Dividend Stock ETF 19.5 52 -37 7.7 -2.3
VALQ American Century STOXX U.S. Quality Value ETF 19.5 29 -14 9.2 -0.8
CDC VictoryShares US EQ Income Enhanced Volatility Wtd Index ETF 19.5 35 -20 8.8 -1.3
QDF FlexShares Quality Dividend Index Fund 19.5 37 -22 7.0 -3.1
FAB First Trust Multi Cap Value AlphaDEX Fund 19.4 71 -56 10.3 +0.2
DTD WisdomTree U.S.Total Dividend Fund 19.1 28 -13 7.2 -2.8
STLV iShares Factors US Value Style ETF 18.9 25 -10 7.4 -2.7
VUSE Vident Core US Equity Fund 18.8 48 -33 9.2 -0.8
DLN WisdomTree U.S. LargeCap Dividend Fund 18.7 28 -13 7.1 -3.0
DVY iShares Select Dividend ETF 18.7 39 -24 9.8 -0.2
VLU SPDR S&P 1500 Value Tilt ETF 18.6 12 3 7.7 -2.3
JHMF John Hancock Multifactor Financials ETF 18.5 40 -25 8.0 -2.0
QDEF FlexShares Quality Dividend Defensive Index Fund 18.5 37 -22 7.0 -3.1
QLC FlexShares US Quality Large Cap Index Fund 18.3 32 -17 6.0 -4.0
ROUS Hartford Multifactor US Equity ETF 18.3 19 -4 6.6 -3.5
FCPI Fidelity Stocks for Inflation ETF 18.2 29 -14 6.9 -3.2
PLC Principal U.S. Large-Cap Multi-Factor Core Index ETF 18.2 15 0 7.1 -2.9
JPUS JPMorgan Diversified Return U.S. Equity ETF 18.2 18 -3 6.3 -3.7
RNDV US Equity Dividend Select ETF 18.2 50 -35 8.3 -1.8
EPS WisdomTree U.S. Earnings 500 Fund 18.1 8 7 7.2 -2.8
SPHB Invesco S&P 500 High Beta ETF 18.1 25 -10 9.3 -0.7
RNLC Large Cap US Equity Select ETF 18.0 60 -45 6.5 -3.6
RYF Invesco S&P 500 Equal Weight Financials ETF 18.0 40 -25 10.0 0.0
FNK First Trust Mid Cap Value AlphaDEX Fund 17.9 70 -55 11.6 +1.6
SPVU Invesco S&P 500 Enhanced Value ETF 17.9 13 2 12.2 +2.1
RWL Invesco S&P 500 Revenue ETF 17.9 39 -24 7.5 -2.5
SCHV Schwab U.S. Large-Cap Value ETF 17.7 4 11 7.3 -2.8
RDVY First Trust Rising Dividend Achievers ETF 17.6 50 -35 8.1 -1.9
VLUE iShares Edge MSCI USA Value Factor ETF 17.6 15 0 11.8 +1.7
SPVM Invesco S&P 500 Value with Momentum ETF 17.5 39 -24 9.1 -0.9
IEFN iShares Evolved U.S. Financials ETF 17.4 18 -3 9.7 -0.4
REVS Columbia Research Enhanced Value ETF 17.4 19 -4 7.6 -2.4
FNDX Schwab Fundamental U.S. Large Co. Index ETF 17.3 25 -10 7.4 -2.6
PVAL Principal Contrarian Value Index ETF 17.3 29 -14 10.6 +0.5
VTV Vanguard Value Index Fund 17.2 4 11 7.5 -2.5
ONEV SPDR Russell 1000 Low Volatility Focus ETF 17.2 20 -5 7.1 -2.9
FDRR Fidelity Dividend ETF for Rising Rates 17.2 29 -14 7.7 -2.3
SPHD Invesco S&P 500 High Dividend Low Volatility ETF 17.1 30 -15 9.8 -0.3
RSP Invesco S&P 500 Equal Weight ETF 17.1 20 -5 6.7 -3.3
SPGP Invesco S&P 500 GARP ETF 17.0 34 -19 7.3 -2.8
VFVA Vanguard U.S. Value Factor ETF 17.0 14 1 11.5 +1.5
PRF Invesco FTSE RAFI US 1000 ETF 16.9 39 -24 7.4 -2.7
RVRS Reverse Cap Weighted U.S. Large Cap ETF 16.9 29 -14 8.1 -1.9
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 16.9 20 -5 7.7 -2.3
SYLD Cambria Shareholder Yield ETF 16.8 59 -44 9.3 -0.7
VYM Vanguard High Dividend Yield Index ETF 16.8 6 9 7.6 -2.4
DGRO iShares Core Dividend Growth ETF 16.7 8 7 7.0 -3.0
AFLG First Trust Active Factor Large Cap ETF 16.6 55 -40 6.4 -3.7
FEX First Trust Large Cap Core AlphaDEX Fund 16.6 60 -45 6.1 -3.9
SCHD Schwab U.S. Dividend Equity ETF 16.5 6 9 8.1 -1.9
FNDB Schwab Fundamental U.S. Broad Market Index ETF 16.4 25 -10 7.4 -2.6
PWV Invesco Dynamic Large Cap Value ETF 16.3 56 -41 8.3 -1.7
PQLC PGIM QMA Strategic Alpha Large-Cap Core ETF 16.2 17 -2 6.6 -3.4
RAFE PIMCO RAFI ESG U.S. ETF 16.1 29 -14 7.7 -2.3
AUSF Global X Adaptive U.S. Factor ETF 16.1 27 -12 9.5 -0.5
CFA VictoryShares US 500 Volatility Weighted Index ETF 16.1 35 -20 5.9 -4.2
ONEO SPDR Russell 1000 Momentum Focus ETF 16.0 20 -5 6.6 -3.5
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 15.9 17 -2 6.5 -3.5
FVAL Fidelity Value Factor ETF 15.9 29 -14 8.6 -1.5
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 15.9 35 -20 5.9 -4.1
VOOV Vanguard S&P 500 Value ETF 15.9 10 5 7.4 -2.6
MGV Vanguard Mega Cap Value ETF 15.8 7 8 7.3 -2.7
SIZE iShares Edge MSCI USA Size Factor ETF 15.8 15 0 6.2 -3.8
IVE iShares S&P 500 Value ETF 15.7 18 -3 7.4 -2.7
IUS Invesco Strategic US ETF 15.7 19 -4 7.1 -2.9
SPYV SPDR Portfolio S&P 500 Value ETF 15.7 4 11 7.5 -2.5
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 15.7 19 -4 6.8 -3.3
SLT Salt TruBeta High Exposure ETF 15.5 29 -14 9.0 -1.0
VFMF Vanguard U.S. Multifactor ETF 15.3 19 -4 7.7 -2.3
IUSV iShares Core S&P U.S. Value ETF 15.3 4 11 7.6 -2.5
FLQL Franklin LibertyQ U.S. Equity ETF 15.3 15 0 6.3 -3.7
KLCD KFA Large Cap Quality Dividend Index ETF 15.2 42 -27 5.3 -4.8
KRMA Global X Conscious Companies ETF 15.1 43 -28 5.9 -4.2
FDVV Fidelity Core Dividend ETF 15.1 29 -14 7.7 -2.3
VOE Vanguard Mid-Cap Value Index Fund 15.1 7 8 7.9 -2.1
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 15.1 29 -14 7.0 -3.0
FNCL Fidelity MSCI Financials Index ETF 15.0 8 7 9.1 -0.9
PKW Invesco Buyback Achievers ETF 15.0 62 -47 7.5 -2.6

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 Shareholder Yield 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 14.1 %
Divided by: Fwd. P/BV 1.4 x
Less: Expense ratio 15 bp
Equals: ALTAR Score 10.0 %
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.