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Principal Ultra-Short Active Income ETF
Active ETF
USI
Payout Change
Pending
Price as of:
$24.18
+0.0
+0.0%
primary theme
N/A
USI (ETF)
Principal Ultra-Short Active Income ETF
Payout Change
Pending
Price as of:
$24.18
+0.0
+0.0%
primary theme
N/A
USI (ETF)
Principal Ultra-Short Active Income ETF
Payout Change
Pending
Price as of:
$24.18
+0.0
+0.0%
primary theme
N/A
Name
As of 02/17/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
0.8%
1 yr return
1.5%
3 Yr Avg Return
0.7%
5 Yr Avg Return
N/A
Net Assets
$8.47 M
Holdings in Top 10
34.1%
52 WEEK LOW AND HIGH
$24.2
$23.95
$24.35
Expenses
OPERATING FEES
Expense Ratio 0.18%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 88.10%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 02/17/2023Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
USI - Profile
Distributions
- YTD Total Return 0.8%
- 3 Yr Annualized Total Return 0.7%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.72%
- Dividend Yield 4.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NamePrincipal Ultra-Short Active Income ETF
-
Fund Family NamePrincipal Funds
-
Inception DateApr 24, 2019
-
Shares Outstanding350001
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJohn Friedl
Fund Description
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 fixed income securities. "Investment grade” securities are rated at the time of purchase BBB- or higher by S&P Global Ratings ("S&P Global") or Baa3 or higher by Moody's Investors Service, Inc. ("Moody's") or, if unrated, of comparable quality in the opinion of those selecting such investments. If the security has been rated by only one of those agencies, that rating will determine whether the security is investment grade.
The Fund invests in fixed- and floating-rate securities. The Fund invests in foreign securities, corporate securities, securities issued by the U.S. and foreign governments and their agencies and instrumentalities, asset-backed securities (securitized products), and commercial paper. The Fund concentrates (invests more than 25% of its net assets) its investments in one or more industries (i.e., banking, insurance and commercial finance) within the financial services sector.
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. The Fund is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share. The Fund actively trades securities.
USI - Performance
Return Ranking - Trailing
| Period | USI Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.8% | -4.7% | 2.3% | 22.65% |
| 1 Yr | 1.5% | -6.2% | 3.4% | 9.01% |
| 3 Yr | 0.7%* | -4.0% | 2.8% | 10.05% |
| 5 Yr | N/A* | -11.1% | 2.6% | N/A |
| 10 Yr | N/A* | -5.1% | 1.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | USI Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.4% | -6.4% | 2.3% | 8.23% |
| 2022 | -0.1% | -1.6% | 21.9% | 29.07% |
| 2021 | 0.6% | -21.0% | 5.8% | 5.48% |
| 2020 | N/A | -9.4% | 2.6% | N/A |
| 2019 | N/A | -12.9% | 6.1% | N/A |
Total Return Ranking - Trailing
| Period | USI Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.8% | -6.5% | 2.3% | 24.36% |
| 1 Yr | 1.5% | -6.2% | 3.4% | 9.01% |
| 3 Yr | 0.7%* | -4.0% | 2.8% | 10.05% |
| 5 Yr | N/A* | -11.1% | 2.6% | N/A |
| 10 Yr | N/A* | -5.1% | 1.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | USI Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 0.4% | -6.4% | 2.3% | 8.23% |
| 2022 | -0.1% | -1.6% | 21.9% | 29.07% |
| 2021 | 0.6% | -21.0% | 5.8% | 5.48% |
| 2020 | N/A | -9.4% | 2.6% | N/A |
| 2019 | N/A | -12.9% | 6.1% | N/A |
USI - Holdings
Concentration Analysis
| USI | Category Low | Category High | USI % Rank | |
|---|---|---|---|---|
| Net Assets | 8.47 M | 24.5 K | 19.8 B | 95.51% |
| Number of Holdings | 43 | 1 | 3396 | 88.52% |
| Net Assets in Top 10 | 2.88 M | -200 M | 16.1 B | 86.89% |
| Weighting of Top 10 | 34.07% | 2.6% | 100.0% | 30.64% |
Top 10 Holdings
- United States Treasury Bills 0.01% 6.63%
- State Street Instl US Govt MMkt Premier 5.02%
- Truist Bank (North Carolina) 2.45% 4.15%
- Phillips 66 0.83% 4.04%
- VOLVO FINANCIAL EQUIPMENT MASTER 0.59% 3.76%
- Fifth Third Bancorp 2.6% 3.75%
- United States Treasury Bills 0.01% 3.68%
- Bank of America Corporation 3.5% 3.66%
- MUFG Union Bank N.A. 1.13437% 3.55%
- Suncor Energy Inc. 2.8% 3.55%
Asset Allocation
| Weighting | Return Low | Return High | USI % Rank | |
|---|---|---|---|---|
| Bonds | 83.17% | 0.00% | 123.41% | 46.72% |
| Cash | 9.17% | -24.02% | 100.00% | 63.11% |
| Convertible Bonds | 7.66% | 0.00% | 15.25% | 18.44% |
| Stocks | 0.00% | 0.00% | 3.35% | 29.51% |
| Preferred Stocks | 0.00% | 0.00% | 0.00% | 25.00% |
| Other | 0.00% | -10.38% | 3.22% | 31.15% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | USI % Rank | |
|---|---|---|---|---|
| Corporate | 72.15% | 0.00% | 99.91% | 5.33% |
| Securitized | 18.68% | 0.00% | 100.00% | 61.07% |
| Cash & Equivalents | 9.17% | 0.00% | 100.00% | 66.39% |
| Derivative | 0.00% | 0.00% | 23.15% | 36.89% |
| Municipal | 0.00% | 0.00% | 70.39% | 56.56% |
| Government | 0.00% | 0.00% | 100.00% | 79.10% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | USI % Rank | |
|---|---|---|---|---|
| US | 63.77% | 0.00% | 100.00% | 52.87% |
| Non US | 19.40% | 0.00% | 72.88% | 21.72% |
USI - Expenses
Operational Fees
| USI Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.18% | 0.03% | 4.12% | 88.33% |
| Management Fee | 0.18% | 0.00% | 1.19% | 18.78% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| USI Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.50% | 5.75% | N/A |
| Deferred Load | N/A | 0.25% | 1.00% | N/A |
Trading Fees
| USI Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 1.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| USI Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 88.10% | 0.00% | 369.54% | 67.65% |
USI - Distributions
Dividend Yield Analysis
| USI | Category Low | Category High | USI % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.14% | 0.00% | 4.51% | 7.38% |
Dividend Distribution Analysis
| USI | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| USI | Category Low | Category High | USI % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.72% | -1.30% | 14.86% | 28.51% |
Capital Gain Distribution Analysis
| USI | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Feb 06, 2023 | $0.083 | OrdinaryDividend |
| Jan 03, 2023 | $0.086 | OrdinaryDividend |
| Dec 06, 2022 | $0.077 | OrdinaryDividend |
| Nov 04, 2022 | $0.063 | OrdinaryDividend |
| Oct 06, 2022 | $0.054 | OrdinaryDividend |
| Sep 07, 2022 | $0.050 | OrdinaryDividend |
| Aug 04, 2022 | $0.037 | OrdinaryDividend |
| Jul 07, 2022 | $0.034 | OrdinaryDividend |
| Jun 06, 2022 | $0.026 | OrdinaryDividend |
| May 05, 2022 | $0.031 | OrdinaryDividend |
| Apr 06, 2022 | $0.023 | OrdinaryDividend |
| Mar 04, 2022 | $0.020 | OrdinaryDividend |
| Feb 04, 2022 | $0.022 | OrdinaryDividend |
| Jan 03, 2022 | $0.023 | OrdinaryDividend |
| Dec 06, 2021 | $0.021 | OrdinaryDividend |
| Nov 04, 2021 | $0.022 | OrdinaryDividend |
| Oct 06, 2021 | $0.021 | OrdinaryDividend |
| Sep 07, 2021 | $0.022 | OrdinaryDividend |
| Aug 05, 2021 | $0.024 | OrdinaryDividend |
| Jul 07, 2021 | $0.027 | OrdinaryDividend |
| Jun 04, 2021 | $0.030 | OrdinaryDividend |
| May 06, 2021 | $0.026 | OrdinaryDividend |
| Apr 07, 2021 | $0.030 | OrdinaryDividend |
| Mar 04, 2021 | $0.034 | OrdinaryDividend |
| Feb 04, 2021 | $0.035 | OrdinaryDividend |
| Jan 04, 2021 | $0.033 | OrdinaryDividend |
| Dec 04, 2020 | $0.036 | OrdinaryDividend |
| Nov 05, 2020 | $0.036 | OrdinaryDividend |
| Oct 06, 2020 | $0.036 | OrdinaryDividend |
| Sep 04, 2020 | $0.039 | OrdinaryDividend |
| Aug 06, 2020 | $0.044 | OrdinaryDividend |
| Jul 07, 2020 | $0.047 | OrdinaryDividend |
| Jun 04, 2020 | $0.049 | OrdinaryDividend |
| May 06, 2020 | $0.052 | OrdinaryDividend |
| Apr 06, 2020 | $0.051 | OrdinaryDividend |
| Mar 05, 2020 | $0.052 | OrdinaryDividend |
| Feb 06, 2020 | $0.053 | OrdinaryDividend |
| Jan 02, 2020 | $0.060 | OrdinaryDividend |
| Dec 05, 2019 | $0.057 | OrdinaryDividend |
| Nov 06, 2019 | $0.065 | OrdinaryDividend |
| Oct 04, 2019 | $0.062 | OrdinaryDividend |
| Sep 06, 2019 | $0.065 | OrdinaryDividend |
| Aug 06, 2019 | $0.066 | OrdinaryDividend |
| Jul 05, 2019 | $0.060 | OrdinaryDividend |
| Jun 06, 2019 | $0.069 | OrdinaryDividend |
USI - Fund Manager Analysis
Managers
John Friedl
Start Date
Tenure
Tenure Rank
Apr 24, 2019
3.1
3.1%
John R. Friedl has been with Principal® since 1998. He earned a B.A. in Communications and History from the University of Washington and a master's degree in Finance from Seattle University. Mr. Friedl has earned the right to use the Chartered Financial Analyst designation.
Scott Peterson
Start Date
Tenure
Tenure Rank
Apr 24, 2019
3.1
3.1%
Scott J. Peterson has been with Edge since 2002. He earned a bachelors degree in Mathematics from Brigham Young University and an M.B.A. from New York Universitys Stern School of Business. Mr. Peterson has earned the right to use the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 32.44 | 6.53 | 7.92 |
