Principal Ultra-Short Active Income ETF (USI)

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Show data:

Fund Prices
(as of ) (as of ) (as of ) (as of )

$ Price $ NAV $ Chg Price $ Chg NAV YTD % (Price)
25.07 25.07 25.09 25.09 0.01 0.01 NA NA 0.01 0.01 NA NA NA NA NA NA

Average Annual Total Returns (%)
(as of ) (as of ) (as of ) (as of )

1 yr 3 yr 5 yr 10 yr Since
Incep
Incep
Date
NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA 0.62 0.62 0.64 0.64

Fund Expenses

Net
Expense
Gross
Expense
Expense Limit
Expiration
Expense Waiver
Expiration
0.18 0.18 N/A N/A
SEC Yield % Benchmark
2.57 I00078US

Morningstar Rating

Category: Ultrashort Bond

N/A
151 funds
N/A
128 funds
N/A
57 funds
N/A
151 funds

​Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns, and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. 

Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.​


Investment Strategy What's This?

The investment seeks to provide current income. The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in investment-grade bonds and other debt securities. The fund invests in fixed- and floating-rate securities. Under normal circumstances, the fund maintains an average effective maturity of three years or less and an average portfolio duration of one year or less.

Investment Manager or Sub-advisor

Principal Global Investors, LLC

Portfolio Managers

John Friedl
Since
Scott Peterson
Since
Daniela Spassova
Since
Paul Kim
Since

Premium/Discount to NAV What's This?

Sorry, but there is no data available for this quarter.
Sorry, but there is no data available for this quarter.
Sorry, but there is no data available for this quarter.

This information shows differences between the per share net asset value (NAV) of the Fund and the market trading price of shares. For these purposes, the market price is the midpoint of the highest bid and lowest offer for Fund shares as of close of trading on the exchange where Fund shares are listed. Timing discrepancies may exist between NAV and closing price. Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices.​

Total Returns What's This?


Average Annual Total Returns
as of
1Mo 3Mo YTD 1Yr 3Yr 5Yr 10Yr Since Inception*
Net Asset Value (NAV) Return 0.31 NA NA NA NA NA NA 0.62
Market Price Return 0.24 NA NA NA NA NA NA 0.64
Bloomberg Barclays U.S. 1-3 Month Treasury Bill Index NA NA NA NA NA NA NA NA
Ultrashort Bond 0.28 0.83 1.85 2.76 1.85 1.32 1.43 NA
Morningstar Percentile Rankings NA NA NA NA NA NA NA NA
# of Funds in Category 210 207 203 194 151 128 57 NA
Average Annual Total Returns
as of
1Mo 3Mo YTD 1Yr 3Yr 5Yr 10Yr Since Inception*
Net Asset Value (NAV) Return 0.31 NA NA NA NA NA NA 0.62
Market Price Return 0.24 NA NA NA NA NA NA 0.64
Bloomberg Barclays U.S. 1-3 Month Treasury Bill Index NA NA NA NA NA NA NA NA
* Inception date: What's This?

Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed, may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.


Where gross and net expense ratios differ, the investment adviser has contractually agreed to limit the investment option's expenses. Differences also may be due to the investment adviser's decision to waive (through the same dates) certain expenses that would normally be payable by the fund. The net expense figure reflects the impact of any limits or waivers. Returns displayed are based on net total investment expense.

Morningstar percentile rankings are based on total returns.



Calendar Year Total Returns 2018 2017 2016 2015 2014
Net Asset Value (NAV) Return 0.00 0.00 0.00 0.00 0.00
Market Price Return 0.00 0.00 0.00 0.00 0.00
Bloomberg Barclays U.S. 1-3 Month Treasury Bill Index 0.00 0.00 0.00 0.00 0.00
Ultrashort Bond 1.61 1.44 1.41 0.17 0.34
Morningstar percentile rankings are based on total returns and do not reflect the inclusion of sales charges. If sales charges were reflected, rankings could be lower.

Expenses
as of

Total Investment Expense - Gross:
0.18%
Total Investment Expense - Net:
0.18%
Waiver Date:
NA
Contractual Cap Date:
NA

Distribution History What's This?

Ex-Date
Type
$ Per Share
07/01/2019
Income
0.060000
06/03/2019
Income
0.069111

Dividends are paid monthly.

Risk and Return Statistics
as of N/A

3 Year
5 Year
Alpha
--
--
Beta
--
--
R-Squared
--
--
Standard Deviation
--
--
Mean
--
--
Sharpe Ratio
--
--
Excess Return
--
--
Tracking Error
--
--
Information Ratio
--
--
Inception Date:

Risk and return statistical data is calculated by Morningstar, Inc. Excess Return is calculated by Principal Life Insurance Company.

Alpha - The difference between an investment's actual returns and its expected performance, given its level of risk (as measured by beta).

Beta - An investment's sensitivity to market movements.

R-Squared - Ranges from 0 to 100 and reveals how closely an investment's returns track those of a benchmark index.

Standard Deviation - Measures how much an investment's returns are likely to fluctuate.

Mean - Represents the annualized total return for a fund over 3 years.

Sharpe Ratio - Measures how an investment balances risks and rewards. The higher the Sharpe ratio, the better the investment's historical risk-adjusted performance.

Excess Return - The difference between an investment option's return and the return of an external standard such as a passive index.

Tracking Error - Also known as "excess risk", is defined as the standard deviation or volatility of excess returns.

Information Ratio - A risk-adjusted measure commonly used to evaluate an active manager's involvement skill. It's defined as the manager's excess return divided by the variability or standard deviation of the excess return.

Morningstar Star Rating™
as of N/A

3 Year
5 Year
Overall
Rating
---
---
---
# Funds
151
128
151
Morningstar Category: Ultrashort Bond
What's This?
Morningstar's Star Ratings reflect risk adjusted performance and are derived from a weighted average of the performance figures associated with its three, five, and ten-year (if applicable) time periods.

Portfolio Composition
as of What's This?

Asset Type
Net
Short
Long
U.S. Bonds
78.81%
0.00%
78.81%
Non-U.S. Bonds
9.69%
0.00%
9.69%
U.S. Stocks
0.00%
0.00%
0.00%
Non-U.S. Stocks
0.00%
0.00%
0.00%
Preferred
0.00%
0.00%
0.00%
Other
0.00%
0.00%
0.00%
Cash
11.51%
0.00%
11.51%
Convertibles
0.00%
0.00%
0.00%
Total
100.00%

Top 10 Holdings
as of What's This?

Total Market Value
% of Net Assets
STATE STREET INSTITUTIONAL US STATE ST INST US GOV MM PREM
481,184.31
3.84%
LG+E AND KU ENERGY LLC SR UNSECURED 11/20 3.75
428,830.25
3.42%
IBM CORP SR UNSECURED 11/19 8.375
428,438.68
3.42%
FORD CREDIT AUTO OWNER TRUST/F FORDR 2015 2 A 144A
400,719.46
3.20%
NEXTERA ENERGY CAPITAL COMPANY GUAR 05/21 VAR
376,273.58
3.00%
SIEMENS FINANCIERINGSMAT COMPANY GUAR 144A 09/19 1.3
358,105.38
2.86%
SANTANDER DRIVE AUTO RECEIVABL SDART 2019 1 A2A
342,134.52
2.73%
CPS AUTO TRUST CPS 2019 A A 144A
326,520.90
2.61%
VOLVO FINANCIAL EQUIPMENT MAST VMOT 2018 A A 144A
326,315.50
2.60%
PNC FINANCIAL SERVICES SR UNSECURED 02/20 5.125
326,011.60
2.60%

Includes, but is not limited to, unsettled activity from creation/redemption transactions and portfolio security trades and accrued interest.

Values may exceed 100% if both long and short positions are included in the portfolio.

Holdings subject to change​.

Stock Sector Breakdown
as of
What's This?

% of Stocks

Cyclical
0.00
Basic Materials
0.00
Consumer Cyclical
0.00
Financial Services
0.00
Real Estate
0.00

Defensive
0.00
Consumer Defensive
0.00
Healthcare
0.00
Utilities
0.00

Sensitive
0.00
Communication Services
0.00
Energy
0.00
Industrials
0.00
Technology
0.00

Morningstar Style Box
as of
What's This?

Sorry, but there is no style box data available for this fund.

Analysis
as of

Average Market Cap (mil):
$
Price/Earnings Ratio:
N/A
Price/Book Ratio:
N/A
Price/Cash Flow Ratio:
N/A
Turnover Ratio:
0
# Stock Holdings:
0
# Bond Holdings:
42
# Other Holdings:
7
# Total Holdings:
49

Principal’s Ultra-Short Active Income ETF is an actively managed exchange-traded fund incorporated in the USA. The Fund’s objective is to provide current income. The Fund seeks to generate alpha through security selection relative to the Bloomberg Barclays U.S. 1-3 Month T-Bill Index. The portfolio management team combines bottom-up independent credit research with top-down strategy, free of derivatives and unrated issues.

 

The Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index is designed to measure the performance of public obligations of the U.S. Treasury with maturities of 1-3 months, including securities that roll up to the U.S. Aggregate, U.S. Universal, and Global Aggregate Indices.

Find a Fund

Principal Ultra-Short Active Income ETF (USI) Overview

Ticker
USI

Benchmark
Bloomberg Barclays U.S. 1-3 Month Treasury Bill Index
(I00078US)


Net Assets
as of
$12,529,356.15

Daily Volume
0

Shares Outstanding
500,001
30 Day SEC Yield
as of
2.57%

30 Day SEC Yield (Unsubsidized)
as of
2.57%

Distribution Yield
as of
2.88

Number of Holdings
as of
49

Premium/Discount to NAV
0.05%

Additional Tickers

NAV Per ShareUSI.NV
Intraday NAVUSI.IV
Shares OutstandingUSI.SO
Estimated CashUSI.EU
Total CashUSI.TC

Disclosures

The Bloomberg Barclays 1-3 Month U.S. Treasury Bill Index is designed to measure the performance of public obligations of the U.S. Treasury with maturities of 1-3 months, including securities that roll up to the U.S. Aggregate, U.S. Universal, and Global Aggregate Indices.

 

Where gross and net expense ratios differ, the investment adviser has contractually agreed to limit the investment option's expenses. Differences also may be due to the investment adviser's decision to waive (through the same dates) certain expenses that would normally be payable by the fund. The net expense figure reflects the impact of any limits or waivers. Returns displayed are based on net total investment expense.

The Morningstar Style Box is a nine-square grid that provides a graphical representation of the “investment style” of stocks and mutual funds. For stocks and stock funds, it classifies securities according to market capitalization (the vertical axis) and growth and value factors (the horizontal axis). Fixed income funds are classified according to credit quality (the vertical axis) and sensitivity to changes in interest rates (the horizontal axis).

The model for the fixed- income style box is based on the two pillars of fixed-income performance: interest-rate sensitivity and credit quality. The three interest sensitivity groups are limited, moderate and extensive and the three credit quality groups are high, medium and low. These groupings display a portfolio’s effective duration and third party credit ratings to provide an overall representation of the fund’s risk orientation given the sensitivity to interest rate and credit rating of bonds in the portfolio.


Performance data quoted represents past performance. Past performance is no guarantee of future results and investment returns, and principal value of the Fund will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted.

Investors should carefully consider a fund’s investment objectives, risks, charges, and expenses prior to investing.

Asset allocation and diversification do not ensure a profit or protect against a loss. Investing in ETFs involves risk, including possible loss of principal. ETFs are subject to risk similar to those of stocks, including those regarding short-selling and margin account maintenance.

Investor shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Ordinary brokerage commissions apply.

Returns shown for periods of less than one year are not annualized.

Morningstar Ratings do not reflect the inclusion of sales charges. If sales charges were reflected, rankings could be lower.

The Morningstar RatingTM for funds, or "star rating," is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar ratings do not reflect the inclusion of sales charges. If sales charges were reflected, ratings could be lower. © 2019 Morningstar, Inc. All rights reserved. Part of the mutual fund data contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Past performance is no guarantee of future results.


Risks and Important Information

International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards.


Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal of bond investment options nor their yields are guaranteed by the U.S. government.


Unlike passive ETFs, there are no indices that the Principal Ultra Short Active Income ETF attempts to track or replicate. Thus, the ability of the Fund to achieve its objectives will depend on the effectiveness of the portfolio manager.