Principal ETFs

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Disclosures

Carefully consider a fund’s objectives, risks, charges, and expenses. For a prospectus, or summary prospectus if available, containing this and other information, visit PrincipalAM.com or call sales support at 800-787-1621. Please read it carefully before investing.

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.

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.

Individual product risks:

Principal Active High Yield ETF:

Fixed income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal bond investment options nor their yields are guaranteed by the U.S. government. Lower-rated securities are subject to additional credit and default risk. International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards. Investing in derivates entails specific risks relating to liquidity, leverage and credit, which may reduce returns and/or increase volatility.

Unlink passive ETFs, there are no indices that Principal Active High Yield ETF or Principal Spectrum Tax-Advantaged Dividend Active ETF attempt to track or replicate. Thus, the ability of the funds to achieve objectives will depend on the perfectiveness of the portfolio manager.

Principal U.S. Small Cap ETF Principal U.S. Mega-Cap ETF:

Equity investments involve greater risk, including heightened volatility, than fixed-income investments.

Small-cap stocks may have additional risks including greater price volatility.

Principal Spectrum Preferred Securities Active ETF:

Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. 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.

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.

Principal Spectrum Tax-Advantaged Dividend Active ETF:

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.

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Principal Asset Management is a trade name of Principal Global Investors, LLC. Principal Global Investors leads global asset management at Principal®.

MM14376-01 | 08/2025 | 4680934-122025 | PRI001793-122025