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Trending ETFs

Name

As of 11/21/2024

Price

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

$19.09

$24.1 M

5.11%

$0.98

0.60%

Vitals

YTD Return

9.6%

1 yr return

13.7%

3 Yr Avg Return

1.9%

5 Yr Avg Return

N/A

Net Assets

$24.1 M

Holdings in Top 10

35.4%

52 WEEK LOW AND HIGH

$19.1
$17.69
$19.33

Expenses

OPERATING FEES

Expense Ratio 0.60%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 15.50%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 11/21/2024

Price

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

$19.09

$24.1 M

5.11%

$0.98

0.60%

PQDI - Profile

Distributions

  • YTD Total Return 9.6%
  • 3 Yr Annualized Total Return 1.9%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.15%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Principal Spectrum Tax-Advantaged Dividend Active ETF
  • Fund Family Name
    Principal Funds
  • Inception Date
    Jun 16, 2020
  • Shares Outstanding
    1150001
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Manu Krishnan

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in dividend-paying securities at the time of purchase. Such securities include, without limitation, preferred securities and capital securities of U.S. and non-U.S. issuers. The Fund invests significantly in securities that, at the time of issuance, are eligible to pay dividends that qualify for favorable U.S. federal income tax treatment, such as dividends treated as “qualified dividend income” ("QDI") and qualified dividends from real estate investment trusts ("REITs"). However, the Fund also invests in securities that are not eligible for such treatment.
Examples of preferred securities in which the Fund invests include preferred stock, certain depositary receipts, and various types of junior subordinated debt. Such preferred securities generally pay fixed and floating rate distributions and are junior to all forms of the company's senior debt, but may have "preference" over common stock in the payment of distributions and the liquidation of a company's assets. Capital securities are securities issued by financial institutions and other corporate issuers for purposes of satisfying regulatory capital requirements of obtaining agency credit. Examples of capital securities in which the Fund invests include subordinated debt securities, certain preferred securities, and contingent convertible securities (“Cocos”). Cocos are hybrid debt securities typically issued by non-US banking institutions that have contractual equity conversion or principal write-down features that are triggered by regulatory capital thresholds or regulatory actions calling into question the issuing banking institution’s continued viability as a going-concern if the conversion trigger were not exercised. The Fund defines "dividend-paying securities" to include preferred and capital securities that make payments and distributions that are treated as dividends for U.S. federal income tax purposes.
The Fund invests in investment-grade securities and in below-investment-grade securities (sometimes called "high yield" or "junk"). The Fund is not managed to a particular maturity or duration. The Fund concentrates its investments (invests more than 25% of its net assets) in securities in one or more industries (i.e., banking, insurance, and commercial finance) within the financial services sector.
The Fund also invests in derivative instruments, such as futures and options, for hedging and for income generation purposes. A derivative is a financial arrangement, the value of which is derived from, or based on, a traditional security, asset, or market index.
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PQDI - Performance

Return Ranking - Trailing

Period PQDI Return Category Return Low Category Return High Rank in Category (%)
YTD 9.6% 4.1% 17.6% 44.87%
1 Yr 13.7% 9.1% 30.5% 70.51%
3 Yr 1.9%* -7.3% 6.2% 20.83%
5 Yr N/A* -4.8% 11.2% 17.33%
10 Yr N/A* 0.8% 5.1% 25.42%

* Annualized

Return Ranking - Calendar

Period PQDI Return Category Return Low Category Return High Rank in Category (%)
2023 0.6% -3.6% 14.2% 53.85%
2022 -14.3% -29.4% -9.6% 12.50%
2021 -2.1% -3.4% 17.2% 86.11%
2020 N/A -24.8% 9.0% N/A
2019 N/A 6.4% 19.1% N/A

Total Return Ranking - Trailing

Period PQDI Return Category Return Low Category Return High Rank in Category (%)
YTD 9.6% 4.1% 17.6% 44.87%
1 Yr 13.7% 9.1% 30.5% 70.51%
3 Yr 1.9%* -7.3% 6.2% 20.83%
5 Yr N/A* -4.8% 11.2% N/A
10 Yr N/A* 0.8% 5.1% N/A

* Annualized

Total Return Ranking - Calendar

Period PQDI Return Category Return Low Category Return High Rank in Category (%)
2023 6.2% -1.9% 26.5% 56.41%
2022 -9.6% -26.0% -5.8% 12.50%
2021 3.1% -2.5% 27.4% 54.17%
2020 N/A -19.2% 12.3% N/A
2019 N/A 10.0% 32.0% N/A

PQDI - Holdings

Concentration Analysis

PQDI Category Low Category High PQDI % Rank
Net Assets 24.1 M 24.1 M 14.5 B 100.00%
Number of Holdings 62 49 439 92.31%
Net Assets in Top 10 13.2 M 13.2 M 1.89 B 100.00%
Weighting of Top 10 35.41% 11.3% 48.1% 5.13%

Top 10 Holdings

  1. Bank of Montreal 4.51%
  2. American Express Co. 4.22%
  3. JPMorgan Chase Co. 4.02%
  4. State Street Corp. 3.88%
  5. Bank of Nova Scotia 3.60%
  6. HSBC Holdings PLC 3.60%
  7. Wells Fargo Co. 2.93%
  8. PNC Financial Services Group, Inc. 2.92%
  9. Toronto-Dominion Bank 2.87%
  10. Dominion Energy, Inc. 2.87%

Asset Allocation

Weighting Return Low Return High PQDI % Rank
Bonds
90.60% 0.00% 97.75% 17.95%
Convertible Bonds
28.93% 0.00% 31.65% 12.00%
Preferred Stocks
7.23% 0.00% 125.69% 83.33%
Cash
2.17% -0.02% 11.04% 39.74%
Stocks
0.00% 0.00% 41.20% 91.03%
Other
0.00% -4.41% 10.15% 66.67%

Bond Sector Breakdown

Weighting Return Low Return High PQDI % Rank
Corporate
97.12% 62.31% 100.00% 66.67%
Cash & Equivalents
1.43% 0.00% 11.04% 56.41%
Derivative
0.00% -0.56% 9.46% 66.67%
Securitized
0.00% 0.00% 0.00% 78.67%
Municipal
0.00% 0.00% 0.00% 78.67%
Government
0.00% 0.00% 21.71% 90.67%

Bond Geographic Breakdown

Weighting Return Low Return High PQDI % Rank
US
90.60% 0.00% 97.61% 8.97%
Non US
0.00% 0.00% 22.53% 89.74%

PQDI - Expenses

Operational Fees

PQDI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.60% 0.05% 4.46% 81.82%
Management Fee 0.60% 0.00% 1.00% 29.49%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

PQDI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

PQDI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 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.

PQDI Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 15.50% 12.00% 199.00% 19.12%

PQDI - Distributions

Dividend Yield Analysis

PQDI Category Low Category High PQDI % Rank
Dividend Yield 5.11% 0.00% 9.59% 51.28%

Dividend Distribution Analysis

PQDI Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PQDI Category Low Category High PQDI % Rank
Net Income Ratio 4.15% 0.88% 7.54% 45.95%

Capital Gain Distribution Analysis

PQDI Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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PQDI - Fund Manager Analysis

Managers

Manu Krishnan


Start Date

Tenure

Tenure Rank

Jun 16, 2020

1.96

2.0%

Manu Krishnan joined Spectrum in 2004. Mr. Krishnan earned a B.S. in Mechanical Engineering from the College of Engineering, Osmania University, India, an M.S. in Mechanical Engineering from the University of Delaware, and an M.B.A. in Finance from Cornell University. Mr. Krishnan has earned the right to use the Chartered Financial Analyst designation.

Kevin Nugent


Start Date

Tenure

Tenure Rank

Jun 16, 2020

1.96

2.0%

Kevin Nugent joined Spectrum in 2012. Previously, Mr. Nugent had been a Guaranteed Introducing Broker with MF Global through Nugent Investment Group, LLC, since 2002. Additionally, since 2007 he has been a portfolio manager at Huntington Bay Capital Management and HFP Investment Management, with an emphasis on trading a proprietary volatility strategy for a hedge fund. He has held senior positions at Smith Barney, UBS and Prudential Securities where he developed low risk market strategies by using a proprietary trading model and statistical analysis. He also has extensive experience in developing various hedging strategies for commercial and institutional clients. Mr. Nugent graduated in 1981 with a Bachelor of Arts degree from Ohio Wesleyan University. He holds a Series 3 (National Commodities Futures) license. He is NASD Series 65 (Uniform Investment Advisor Law Examination) examination qualified.

Fernando Diaz


Start Date

Tenure

Tenure Rank

Jun 16, 2020

1.96

2.0%

Prior to joining Spectrum in 2000, Mr. Diaz was head of preferred trading at Spear, Leeds & Kellogg and Pershing, a division of DLJ, where he initiated preferred trading operations at both firms. Mr. Diaz also worked at Goldman Sachs as an analyst in the Investment Banking division and in the Preferred Stock Department as a trader and product analyst.

Roberto Giangregorio


Start Date

Tenure

Tenure Rank

Jun 16, 2020

1.96

2.0%

Mr. Giangregorio joined Spectrum in 2003. Previously, he was an intern with the Cayuga MBA Fund LLC where he covered Utility Sector equities. He also worked for the Ford Motor Company for over eight years as an engine design engineer. Mr. Giangregorio holds a BS (Mechanical Engineering) from S.U.N.Y. at Stony Brook, a MS (Mechanical Engineering) from the University of Wisconsin-Madison and a MBA (Finance) with distinction from Cornell University.

Mark Lieb


Start Date

Tenure

Tenure Rank

Jun 16, 2020

1.96

2.0%

Prior to founding Spectrum in 1987, Mr. Lieb was a Founder, Director and Partner of DBL Preferred Management, Inc., a wholly owned corporate cash management subsidiary of Drexel Burnham Lambert, Inc. Mr. Lieb was instrumental in the formation and development of all aspects of DBL Preferred Management, Inc., including the daily management of preferred stock portfolios for institutional clients, hedging strategies, and marketing strategies. Mr. Lieb's prior employment included the development of the preferred stock trading desk at Mosley Hallgarten & Estabrook. Mr. Lieb holds a BA in Economics from Central Connecticut State College and a MBA (Finance) from the University of Hartford.

L. Jacoby


Start Date

Tenure

Tenure Rank

Jun 16, 2020

1.96

2.0%

Mr. Jacoby joined Spectrum in 1995 as a Portfolio Manager and most recently held the position of Managing Director and Senior Portfolio Manager until his appointment as CIO on January 1, 2010, following the planned retirement of his predecessor. Prior to joining Spectrum, Mr. Jacoby was a Senior Investment Officer at USL Capital Corporation (a subsidiary of Ford Motor Corporation) and co-manager of the preferred stock portfolio of its US Corporate Financing Division for six years. Mr. Jacoby began his career in 1981 with The Northern Trust Company, Chicago and then moved to Los Angeles to join E.F. Hutton & Co. as a Vice President and Institutional Salesman, Generalist Fixed Income Sales through most of the 1980s. Mr. Jacoby holds a BSBA (Finance) from the Boston University School of Management.

Satomi Yarnell


Start Date

Tenure

Tenure Rank

Aug 02, 2021

0.83

0.8%

Satomi Yarnell joined Spectrum in 2015. Ms. Yarnell earned a M.A. in Economics from Waseda University. Ms. Yarnell has earned the right to use the Chartered Financial Analyst designation and is a Chartered Member of Security Analyst Association of Japan (CMA).

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.8 11.42