PY
Principal Value ETF
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.
US
EQUITY
Active
MANAGEMENT STYLE
77.8 M
ASSETS UNDER MGMT
15 bp
EXPENSES
Fund Basics
| Fund sponsor | The Principal Financial Group |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Mar 21, 2016 |
| Assets (mns) | $78 |
| Expense ratio | 15 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-End Investment Company |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Fundamental |
| Weighting | Tiered |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| APPLE INC | 4.4 % |
| MICROSOFT CORP | 4.0 % |
| BROADCOM INC. | 2.6 % |
| EXXON MOBIL CORP | 1.9 % |
| HOME DEPOT INC | 1.5 % |
| BANK OF AMERICA CORP | 1.5 % |
| QUALCOMM INC | 1.4 % |
| CHEVRON CORP | 1.3 % |
| LINDE PLC | 1.2 % |
| CATERPILLAR INC | 1.2 % |
Constituent Breakdown
| Number of holdings | 114 |
| Herfindahl-Hirschman Index | 122 |
| Wgt avg mkt cap (mns) | $407,696 |
| Large cap (>$10bn) | 97.3% |
| Mid cap ($2-10bn) | 2.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 95.3 % |
 |
IRELAND | 3.5 % |
 |
BRITAIN | 1.2 % |
 |
SWITZERLAND | 1.1 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 9.6% | 27.0% | 9.8% | 5.4% | 10.7% | -- | 10.3% | Volatility | 11.4% | 12.0% | 13.0% | 16.1% | 24.9% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.93 | 82% |
| MSCI EAFE | 0.88 | 77% |
| MSCI Emg Mkts | 0.61 | 36% |
Liquidity Measures
| Avg. volume (000) | 4 |
| Turnover | 0.3% |
| Avg. Bid/Ask (% of price) | 0.17% |
| ADV of underlying (mns) | $72,690 |
Technical Indicators
| Recent close | $50.88 |
| 30d moving avg. | $49.84 |
| Annualized volatility | 17.8% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 0.2% |
| Short interest (underlying) | 3.3% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. PY |
Expenses vs. PY |
ALTAR Score™ vs. PY |
|---|---|---|---|---|
| PFM | Invesco Dividend Achievers ETF | 35.6% | +38 bp | -1.7% |
| VIG | Vanguard Dividend Appreciation ETF | 34.2% | -9 bp | -1.4% |
| DLN | WisdomTree U.S. LargeCap Dividend Fund | 33.0% | +13 bp | -1.2% |
| DGRO | iShares Core Dividend Growth ETF | 31.8% | -7 bp | -0.7% |
| VYM | Vanguard High Dividend Yield Index ETF | 31.4% | -9 bp | -0.2% |
| FVAL | Fidelity Value Factor ETF | 31.0% | 0 bp | +0.1% |
| FDRR | Fidelity Dividend ETF for Rising Rates | 30.7% | 0 bp | +0.4% |
| DTD | WisdomTree U.S. Total Dividend Fund | 30.6% | +13 bp | -1.0% |
| AFLG | First Trust Active Factor Large Cap ETF | 30.2% | +40 bp | -1.1% |
| FNDX | Schwab Fundamental US Large Co. Index ETF | 30.0% | +10 bp | -0.2% |
Risk and Returns: PY vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/15/2024
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
PY
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
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™
PY
7.0%
Cat. Avg
5.5%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.5% and a standard deviation of
2.4%. PY's ALTAR Score™ is approximately
0.6 standard deviations
above
the category average. This places PY in the 74th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
PYSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| PY (15 bp) Percentile rank | 8 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| PY | 15.0 | 16.7 | 31.7 |
| Peer Avg. | 56.8 | 23.7 | 80.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .