Principal Spectrum Tax-Advantaged Dividend Active ETF

    Product Detail Page

    Highlights

    Active management based on specialized research and dynamic security selection to manage complex global markets

    • Targeted exposure to qualified dividends designed to help U.S. taxpayers boost their after-tax income.
    • Selecting higher-quality preferred and capital securities with improving credits and seeking to avoid speculative risks may deliver attractive risk-adjusted returns.
    • Active management expertise analyzing, managing, and pricing complex security structures across a variety of credit, interest rate, and regulatory conditions.

    Fund details

    as of 10/04/2022
    Fund ticker PQDI
    Benchmark ICE BofA 7% Constrained DRD Eligible Preferred Securities Index
    NAV $17.78
    NAV change $0.09
    Premium/Discount to NAV 0.61%
    Median bid ask spread 0.27%
    Price $17.89
    Price change $0.12
    Daily volume 31
    Total fund assets $20.4M
    Shares outstanding 1,150,001
    Dividend frequency Monthly
    Inception date 06/16/2020
    Morningstar category Preferred Stock
    Investment approach
    The investment seeks to provide current income. 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”).
    Premium / Discount to NAV
    as of 09/30/2022
    As of 09/30/2022
    Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022
    Days traded at premium 58 63 64 64 62 62 64
    Days traded at discount 3 0 0 0 0 0 0
    This information shows differences between the per share net asset value (NAV) of the Fund and the market price of shares. For premiums and discounts reflected for dates prior to 11/02/2020, the market price utilized 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. For premiums and discounts reflected for dates beginning on 11/02/2020, the market price utilized is the official closing price of the Fund shares, or if it more accurately reflects the market value of the Fund shares at the time as of which the Fund share’s NAV is calculated, the price that is the midpoint between the national best bid and national best offer as of that time. 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.
    Disclosures
    Principal Funds are distributed by Principal Funds Distributor, Inc. ALPS Distributors, Inc. is the distributor of the Principal ETFs. ALPS Distributors, Inc. and the Principal Funds are not affiliated.
    Contingent Capital Securities carry greater risk compared to other securities in times of credit stress. An issuer or regulator’s decision to write down, write off or convert a CoCo may result in complete loss on an investment.
    Unlike typical ETFs, there are no indices that the Principal Spectrum Tax-Advantaged Dividend Active 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.
    Fixed income investments are subject to interest rate risk; as interest rates rise their value will decline. Risks of preferred securities differ from risks inherent in other investments. In particular, in a bankruptcy preferred securities are senior to common stock but subordinate to other corporate debt. Contingent capital securities (CoCos) may have substantially greater risk than other securities in times of financial stress. An issuer or regulators decision to write down, write off or convert a CoCo may result in complete loss on an investment. Real estate investment options are subject to risks associated with credit, liquidity, interest rate fluctuation, adverse general and local economic conditions, and decreases in real estate values and occupancy rates.
    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.
    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 may apply.
    Spectrum Asset Management, Inc. is an affiliate of Principal Global Investors. Spectrum is a leading manager of institutional and retail preferred securities portfolios and manages portfolios for an international universe of corporate, insurance, and endowment clients.
    Fixed‐income investment options are subject to interest rate risk, and their value will decline as interest rates rise.
    The holdings listed do not constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list.
    NOT FDIC INSURED - MAY LOSE VALUE - NO BANK GUARANTEE
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    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.
    Risks of preferred securities differ from risks inherent in other investments. In particular, in a bankruptcy preferred securities are senior to common stock but subordinate to other corporate debt.
    Performance assumes reinvestment of all dividends and capital gains.
    Includes, but is not limited to, unsettled activity from creation/redemption transactions and portfolio security trades and accrued interest.
    To obtain a prospectus, download or call Customer Service at 1.800.222.5852. Carefully consider a fund’s objectives, risks, charges, and expenses. The prospectus, or summary prospectus if available, contains this and other information. Please read it carefully before investing.
    ICE BofA 7% Constrained DRD Eligible Preferred Securities Index contains all securities in the ICE BofA Fixed Rate Preferred Securities Index that are DRD (dividends received deduction) eligible, but caps issuer exposure at 7%.