BCHP
Prospectus
Principal Focused Blue Chip ETF
Prospectus
Overview
Performance & expenses
Ratings
Holdings
Portfolio characteristics
Portfolio management
Literature
Overview
Performance
As of 12/31/2025
YTD
Returns shown for periods of less than one year are not annualized.
10.23%
1 year
10.23%
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
Morningstar Medalist Rating™
As of 11/12/2025
Category:
Large Growth
Analyst-Driven %:
100
Data Coverage %:
100
Highlights

Highly active approach focused on owner-operators

  • A wide latitude to depart from index weights results in higher active share and more concentrated top holdings than peers.
  • Aligned incentives: Owner-operators tend to be passionate and cost conscious. We believe they have longer-term outlooks and are better capital allocators.
  • An experienced team with a history of delivering risk-adjusted returns over market cycles.
Fund details as of 01/28/2026 unless indicated otherwise
Fund ticker
BCHP
Benchmark
Russell 1000® Growth Index
NAV
$37.71
NAV change
-$0.09
Premium/Discount to NAV
0.11%
Median bid ask spread as of 01/28/2026
0.11%
Price
$37.75
Price change
-$0.07
Daily volume
21,888
Total fund assets
Total Fund Assets as of 01/28/2026
$203.6M
Shares outstanding
5,400,001
Dividend frequency
Annually
Inception date
07/12/2023
Morningstar category
Large Growth
Investment approach The investment seeks long-term growth of capital. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies with large market capitalizations that, in the opinion of Principal Global Investors, LLC (“PGI”), the fund’s investment advisor, display characteristics of a “blue chip” company. The fund is non-diversified.
Performance & expenses
Annual returns Calendar year Distributions Expenses
As of 12/31/2025
As of 12/31/2025
Month end Quarter end
Performance and Expenses Data Table
Name 1 month 3 month YTD 1-year 3-year 5-year 10-year Since inception Overall
Net asset value (NAV) return -1.27% -0.37% 10.23% 10.23% — — — 18.39% —
Market price return -1.26% -0.35% 10.16% 10.16% — — — 18.40% —
Benchmark performance
Russell 1000® Growth Index
 -0.62% 1.12% 18.56% 18.56% — — — — —
Morningstar category average
Large Growth
 -0.34% 0.55% 16.10% 16.10% — — — — —
Morningstar percentile rankings
Morningstar percentile rankings are based on total returns 		— — — 87 — — — — —
# of funds in category 1,105 1,102 1,080 1,080 — — — — —
Morningstar rating

Morningstar ratings are based on risk-adjusted returns.

The Morningstar Rating™ 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.
— — — — — — — — —
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns shown for periods of less than one year are not annualized. Index performance information: no deductions for fees, expenses or taxes. Indices are unmanaged and individuals cannot invest directly in an index. The market price used to disclose the daily price and calculate daily premiums and discounts is the official closing price of the Fund, or if it more accurately reflects the market value of the Fund share at the time as of which the Fund’s NAV is calculated, the price that is the midpoint between the national best bid and national best offer as of that time. For the purpose of calculating Market Price Return, a market price prior to 02/01/2021 is defined as the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated, while a market price on or after 02/01/2021 is defined as the official close price as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Performance and Expenses Data Table
Name 1 month 3 month YTD 1-year 3-year 5-year 10-year Since inception Overall
Net asset value (NAV) return -1.27% -0.37% 10.23% 10.23% — — — 18.39% —
Market price return -1.26% -0.35% 10.16% 10.16% — — — 18.40% —
Benchmark performance
Russell 1000® Growth Index
 -0.62% 1.12% 18.56% 18.56% — — — — —
Morningstar category average
Large Growth
 -0.34% 0.55% 16.10% 16.10% 27.59% 11.28% 15.25% — —
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns shown for periods of less than one year are not annualized. Index performance information: no deductions for fees, expenses or taxes. Indices are unmanaged and individuals cannot invest directly in an index. The market price used to disclose the daily price and calculate daily premiums and discounts is the official closing price of the Fund, or if it more accurately reflects the market value of the Fund share at the time as of which the Fund’s NAV is calculated, the price that is the midpoint between the national best bid and national best offer as of that time. For the purpose of calculating Market Price Return, a market price prior to 02/01/2021 is defined as the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated, while a market price on or after 02/01/2021 is defined as the official close price as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Performance and Expenses Data Table
Data 2025 2024 2023 2022 2021
Net asset value (NAV) return — — — — —
Market price return 10.16% 20.70% — — —
Morningstar category average
Large Growth
 16.10% 28.96% 36.74% -29.91% 20.45%
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
Performance and Expenses Data Table
Date Type Dollar per share
12/27/2024 Income 0.0073
12/18/2024 Short Term Capital Gain 0.2319
12/18/2024 Long Term Capital Gain 0.1089
12/27/2023 Income 0.0543
Expense ratio gross
As of current prospectus date
0.58%
Expense ratio net
As of current prospectus date
0.58%
Expense limit expiration date
—
In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the mutual fund. Performance shown reflects the application of net expenses of the fund.
Premium / Discount to NAV
A fund that trades at a price higher than its Net Asset Value (NAV) is said to trade at a premium to its NAV. A fund that trades at a price lower than its NAV is said to trade at a discount to its NAV. The term applies to Exchange Traded Funds (ETFs) and closed-end mutual funds, since they trade at prices determined by supply and demand.
as of 12/31/2025
As of 12/31/2025
Performance and Expenses Data Table
Q1 2025 Q2 2025 Q3 2025 Q4 2025
Days traded at premium 40 42 52 55
Days traded at discount 20 20 12 9
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.
Ratings Morningstar Medalist Rating™
as of 11/12/2025  |  Analyst-Driven %: 100  |  Data Coverage %: 100
Holdings
Top 10 as of 01/29/2026
% of Assets % of Assets
% of Assets
1 AMAZON.COM INC COMMON STOCK USD.01
15.24%
2 MICROSOFT CORP COMMON STOCK USD.00000625
15.23%
3 BROOKFIELD CORP COMMON STOCK
10.26%
4 NVIDIA CORP COMMON STOCK USD.001
8.53%
5 ALPHABET INC CL C COMMON STOCK USD.001
4.97%
6 TRANSDIGM GROUP INC COMMON STOCK USD.01
4.71%
7 MASTERCARD INC A COMMON STOCK USD.0001
4.71%
8 VISA INC CLASS A SHARES COMMON STOCK USD.0001
4.54%
9 CADENCE DESIGN SYS INC COMMON STOCK USD.01
4.29%
10 BROADCOM INC COMMON STOCK
3.87%
Portfolio Holdings
Basket
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.
May not reflect current holdings or allocations.
Includes, but is not limited to, unsettled activity from creation/redemption transactions and portfolio security trades and accrued interest.
Portfolio characteristics
Analysis Sector
# of holdings as of 12/31/2025
21
Active share
Measures how much different portfolio weights in securities are from benchmark weights. The higher the active share, the more the portfolio differs from the benchmark. as of 12/31/2025
61.36%
Turnover ratio
Turnover is calculated semi-annually; reflects most recent available calculation. as of 06/30/2025
24.70%
Weighted avg mark cap as of 12/31/2025
1,651,696.29
R-squared (5-year)
Ranges from 0 to 100 and reveals how closely an investment's returns track those of a benchmark index. as of 12/31/2025
—
Sharpe ratio (5-year)
Measures how an investment balances risks and rewards. The higher the Sharpe ratio, the better the investment's historical risk-adjusted performance. as of 12/31/2025
—
Standard deviation (5-year)
Measures how much an investment's returns are likely to fluctuate. as of 12/31/2025
—
May not reflect current holdings or allocations.
May not reflect current holdings or allocations.
Portfolio management
K. William Nolin, CFA
37 years of experience
Tom Rozycki, CFA
26 years of experience

No information
Literature
Investment materials Enhanced fact sheet
Prospectus, Annual report, Semi-annual report and Statement of additional information
ETF reference sheet
Dividend and capital gains schedule and information
Basket
Portfolio holdings Portfolio holdings
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.
Unlike typical ETFs, there are no indices that the Principal Focused Blue Chip 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.
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.
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
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.
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 prospectus online 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.
Russell 1000 Growth Index measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The index was developed with a base value of 200 as of August 31, 1992.
The fund is non-diversified, so it may invest a high percentage of its assets in the securities of a small number of issuers and is more likely than diversified funds to be significantly affected by a specific security's poor performance.
© 2026 Morningstar, Inc. All rights reserved. The information 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.
The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please refer to the Morningstar shareholder disclosures .
The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.
Equity investments involve greater risk, including higher volatility, than fixed-income investments.
The Analyst-Driven % data point displays the weighted percentage of a vehicle’s pillar ratings assigned directly or indirectly by analysts.
The Data Coverage % data point is a summary metric describing the level of data completeness used to generate the overall rating.
Overview
Performance
As of 12/31/2025
YTD
Returns shown for periods of less than one year are not annualized.
10.23%
1 year
10.23%
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
Morningstar Medalist Rating™
As of 11/12/2025
Category:
Large Growth
Analyst-Driven %:
100
Data Coverage %:
100
Highlights

Highly active approach focused on owner-operators

  • A wide latitude to depart from index weights results in higher active share and more concentrated top holdings than peers.
  • Aligned incentives: Owner-operators tend to be passionate and cost conscious. We believe they have longer-term outlooks and are better capital allocators.
  • An experienced team with a history of delivering risk-adjusted returns over market cycles.
Fund details as of 01/28/2026 unless indicated otherwise
Fund ticker
BCHP
Benchmark
Russell 1000® Growth Index
NAV
$37.71
NAV change
-$0.09
Premium/Discount to NAV
0.11%
Median bid ask spread as of 01/28/2026
0.11%
Price
$37.75
Price change
-$0.07
Daily volume
21,888
Total fund assets
Total Fund Assets as of 01/28/2026
$203.6M
Shares outstanding
5,400,001
Dividend frequency
Annually
Inception date
07/12/2023
Morningstar category
Large Growth
Investment approach The investment seeks long-term growth of capital. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies with large market capitalizations that, in the opinion of Principal Global Investors, LLC (“PGI”), the fund’s investment advisor, display characteristics of a “blue chip” company. The fund is non-diversified.
Performance & expenses
Annual returns Calendar year Distributions Expenses
As of 12/31/2025
As of 12/31/2025
Month end Quarter end
Performance and Expenses Data Table
Name 1 month 3 month YTD 1-year 3-year 5-year 10-year Since inception Overall
Net asset value (NAV) return -1.27% -0.37% 10.23% 10.23% — — — 18.39% —
Market price return -1.26% -0.35% 10.16% 10.16% — — — 18.40% —
Benchmark performance
Russell 1000® Growth Index
 -0.62% 1.12% 18.56% 18.56% — — — — —
Morningstar category average
Large Growth
 -0.34% 0.55% 16.10% 16.10% — — — — —
Morningstar percentile rankings
Morningstar percentile rankings are based on total returns 		— — — 87 — — — — —
# of funds in category 1,105 1,102 1,080 1,080 — — — — —
Morningstar rating

Morningstar ratings are based on risk-adjusted returns.

The Morningstar Rating™ 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.
— — — — — — — — —
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns shown for periods of less than one year are not annualized. Index performance information: no deductions for fees, expenses or taxes. Indices are unmanaged and individuals cannot invest directly in an index. The market price used to disclose the daily price and calculate daily premiums and discounts is the official closing price of the Fund, or if it more accurately reflects the market value of the Fund share at the time as of which the Fund’s NAV is calculated, the price that is the midpoint between the national best bid and national best offer as of that time. For the purpose of calculating Market Price Return, a market price prior to 02/01/2021 is defined as the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated, while a market price on or after 02/01/2021 is defined as the official close price as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Performance and Expenses Data Table
Name 1 month 3 month YTD 1-year 3-year 5-year 10-year Since inception Overall
Net asset value (NAV) return -1.27% -0.37% 10.23% 10.23% — — — 18.39% —
Market price return -1.26% -0.35% 10.16% 10.16% — — — 18.40% —
Benchmark performance
Russell 1000® Growth Index
 -0.62% 1.12% 18.56% 18.56% — — — — —
Morningstar category average
Large Growth
 -0.34% 0.55% 16.10% 16.10% 27.59% 11.28% 15.25% — —
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns shown for periods of less than one year are not annualized. Index performance information: no deductions for fees, expenses or taxes. Indices are unmanaged and individuals cannot invest directly in an index. The market price used to disclose the daily price and calculate daily premiums and discounts is the official closing price of the Fund, or if it more accurately reflects the market value of the Fund share at the time as of which the Fund’s NAV is calculated, the price that is the midpoint between the national best bid and national best offer as of that time. For the purpose of calculating Market Price Return, a market price prior to 02/01/2021 is defined as the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated, while a market price on or after 02/01/2021 is defined as the official close price as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Performance and Expenses Data Table
Data 2025 2024 2023 2022 2021
Net asset value (NAV) return — — — — —
Market price return 10.16% 20.70% — — —
Morningstar category average
Large Growth
 16.10% 28.96% 36.74% -29.91% 20.45%
Returns represent past performance and do not guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted.
Performance and Expenses Data Table
Date Type Dollar per share
12/27/2024 Income 0.0073
12/18/2024 Short Term Capital Gain 0.2319
12/18/2024 Long Term Capital Gain 0.1089
12/27/2023 Income 0.0543
Expense ratio gross
As of current prospectus date
0.58%
Expense ratio net
As of current prospectus date
0.58%
Expense limit expiration date
—
In situations where the net and gross fund expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the fund. The gross fund expense figure does not reflect any waivers or caps on the mutual fund. Performance shown reflects the application of net expenses of the fund.
Premium / Discount to NAV
A fund that trades at a price higher than its Net Asset Value (NAV) is said to trade at a premium to its NAV. A fund that trades at a price lower than its NAV is said to trade at a discount to its NAV. The term applies to Exchange Traded Funds (ETFs) and closed-end mutual funds, since they trade at prices determined by supply and demand.
as of 12/31/2025
As of 12/31/2025
Performance and Expenses Data Table
Q1 2025 Q2 2025 Q3 2025 Q4 2025
Days traded at premium 40 42 52 55
Days traded at discount 20 20 12 9
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.
Ratings
Morningstar Medalist Rating™
as of 11/12/2025  |  Analyst-Driven %: 100  |  Data Coverage %: 100
Holdings
Top 10 as of 01/29/2026
% of Assets % of Assets
% of Assets
1 AMAZON.COM INC COMMON STOCK USD.01
15.24%
2 MICROSOFT CORP COMMON STOCK USD.00000625
15.23%
3 BROOKFIELD CORP COMMON STOCK
10.26%
4 NVIDIA CORP COMMON STOCK USD.001
8.53%
5 ALPHABET INC CL C COMMON STOCK USD.001
4.97%
6 TRANSDIGM GROUP INC COMMON STOCK USD.01
4.71%
7 MASTERCARD INC A COMMON STOCK USD.0001
4.71%
8 VISA INC CLASS A SHARES COMMON STOCK USD.0001
4.54%
9 CADENCE DESIGN SYS INC COMMON STOCK USD.01
4.29%
10 BROADCOM INC COMMON STOCK
3.87%
Portfolio Holdings
Basket
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.
May not reflect current holdings or allocations.
Includes, but is not limited to, unsettled activity from creation/redemption transactions and portfolio security trades and accrued interest.
Portfolio characteristics
Analysis Sector
# of holdings as of 12/31/2025
21
Active share
Measures how much different portfolio weights in securities are from benchmark weights. The higher the active share, the more the portfolio differs from the benchmark. as of 12/31/2025
61.36%
Turnover ratio
Turnover is calculated semi-annually; reflects most recent available calculation. as of 06/30/2025
24.70%
Weighted avg mark cap as of 12/31/2025
1,651,696.29
R-squared (5-year)
Ranges from 0 to 100 and reveals how closely an investment's returns track those of a benchmark index. as of 12/31/2025
—
Sharpe ratio (5-year)
Measures how an investment balances risks and rewards. The higher the Sharpe ratio, the better the investment's historical risk-adjusted performance. as of 12/31/2025
—
Standard deviation (5-year)
Measures how much an investment's returns are likely to fluctuate. as of 12/31/2025
—
May not reflect current holdings or allocations.
May not reflect current holdings or allocations.
Portfolio management
K. William Nolin, CFA
37 years of experience
Tom Rozycki, CFA
26 years of experience

No information
Literature
Investment materials Enhanced fact sheet
Prospectus, Annual report, Semi-annual report and Statement of additional information
ETF reference sheet
Dividend and capital gains schedule and information
Basket
Portfolio holdings Portfolio holdings
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.
Unlike typical ETFs, there are no indices that the Principal Focused Blue Chip 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.
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.
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
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.
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 prospectus online 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.
Russell 1000 Growth Index measures the performance of those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The index was developed with a base value of 200 as of August 31, 1992.
The fund is non-diversified, so it may invest a high percentage of its assets in the securities of a small number of issuers and is more likely than diversified funds to be significantly affected by a specific security's poor performance.
© 2026 Morningstar, Inc. All rights reserved. The information 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.
The Morningstar Medalist Rating™ is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected performance into rating groups defined by their Morningstar Category and their active or passive status. When analysts directly cover a vehicle, they assign the three pillar ratings based on their qualitative assessment, subject to the oversight of the Analyst Rating Committee, and monitor and reevaluate them at least every 14 months. When the vehicles are covered either indirectly by analysts or by algorithm, the ratings are assigned monthly. For more detailed information about these ratings, including their methodology, please refer to the Morningstar shareholder disclosures .
The Morningstar Medalist Ratings are not statements of fact, nor are they credit or risk ratings. The Morningstar Medalist Rating (i) should not be used as the sole basis in evaluating an investment product, (ii) involves unknown risks and uncertainties which may cause expectations not to occur or to differ significantly from what was expected, (iii) are not guaranteed to be based on complete or accurate assumptions or models when determined algorithmically, (iv) involve the risk that the return target will not be met due to such things as unforeseen changes in management, technology, economic development, interest rate development, operating and/or material costs, competitive pressure, supervisory law, exchange rate, tax rates, exchange rate changes, and/or changes in political and social conditions, and (v) should not be considered an offer or solicitation to buy or sell the investment product. A change in the fundamental factors underlying the Morningstar Medalist Rating can mean that the rating is subsequently no longer accurate.
Equity investments involve greater risk, including higher volatility, than fixed-income investments.
The Analyst-Driven % data point displays the weighted percentage of a vehicle’s pillar ratings assigned directly or indirectly by analysts.
The Data Coverage % data point is a summary metric describing the level of data completeness used to generate the overall rating.