EMDI
Prospectus
Principal Finisterre Emerging Markets Diversified Income ETF
Prospectus
Highlights

An active, income-focused approach to emerging market debt (EMD), aiming to maximize yield while minimizing the portfolio impact of EMD credit and macro risks

  • Short duration “plus” strategy (3-5 years) with greater flexibility and less defensive profile than typical short duration funds, with the goal of optimizing income and volatility.
  • Focuses on a blend of “buy and hold” income positions and income-driven Alpha* ideas, aiming to deliver an attractive risk-adjusted return profile.
  • High-quality research helps identify the team’s highest-conviction income opportunities across the full EMD universe, without being tied to a specific benchmark.

*Alpha is defined as relative value and event-driven opportunities.
Fund details as of 11/11/2026 unless indicated otherwise
Fund ticker
EMDI
Benchmark
JPMORGAN EM EQUAL WEIGHT TR INDEX
NAV
$24.96
NAV change
-$0.04
Premium/Discount to NAV
-0.06%
Median bid ask spread as of 11/11/2026
0.24%
Price
$24.95
Price change
-$0.06
Daily volume
212
Total fund assets Total Fund Assets as of 11/11/2026
$36.1M
Shares outstanding
1,450,001
Dividend frequency
Monthly
Inception date
11/09/2026
Morningstar category
Emerging Markets Bond
Performance & expenses
Expenses
Expense ratio gross As of current prospectus date
0.59%
Expense ratio net As of current prospectus date
0.59%
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.
Holdings
Top 10 as of 11/12/2026
% of Assets % of Assets
% of Assets
1 US DOLLAR
44.16%
2 NOTA DO TESOURO NACIONAL NOTES 01/29 10
2.86%
3 HUNGARY GOVERNMENT BOND BONDS 07/31 6.75
1.82%
4 MEX BONOS DESARR FIX RT SR UNSECURED 11/38 8.5
1.80%
5 REPUBLIC OF PERU SR UNSECURED REGS 08/37 6.9
1.44%
6 HUNGARY GOVERNMENT BOND BONDS 11/32 4.75
1.40%
7 PETROLEOS DE VENEZUELA S COMPANY GUAR REGS 05/24 6
1.33%
8 POLAND GOVERNMENT BOND BONDS 08/36 2
1.28%
9 BOI FINANCE BV GOVT GUARANT REGS 02/27 7.5
1.23%
10 REPUBLIC OF VENEZUELA SR UNSECURED REGS 05/23 9
1.19%
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 management
damien
Damien Buchet, CFA
Chief Investment Officer - Principal Finisterre
34 years of experience
Andy Fee, CFA
Senior Fixed Income Analyst
13 years of experience
Christopher Watson
Christopher Watson, CFA
Senior Portfolio Manager
27 years of experience

No information
Literature
Investment materials Enhanced fact sheet
Prospectus, Annual report, Semi-annual report and Statement of additional 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.
Emerging market debt may be subject to heightened default and liquidity risk.
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.
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
International investing involves greater risks such as currency fluctuations, political/social instability, and differing accounting standards.
Risk is magnified in emerging markets, which may lack established legal, political, business, or social structures to support securities markets.
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.
© 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.
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
Highlights

An active, income-focused approach to emerging market debt (EMD), aiming to maximize yield while minimizing the portfolio impact of EMD credit and macro risks

  • Short duration “plus” strategy (3-5 years) with greater flexibility and less defensive profile than typical short duration funds, with the goal of optimizing income and volatility.
  • Focuses on a blend of “buy and hold” income positions and income-driven Alpha* ideas, aiming to deliver an attractive risk-adjusted return profile.
  • High-quality research helps identify the team’s highest-conviction income opportunities across the full EMD universe, without being tied to a specific benchmark.

*Alpha is defined as relative value and event-driven opportunities.
Fund details as of 11/11/2026 unless indicated otherwise
Fund ticker
EMDI
Benchmark
JPMORGAN EM EQUAL WEIGHT TR INDEX
NAV
$24.96
NAV change
-$0.04
Premium/Discount to NAV
-0.06%
Median bid ask spread as of 11/11/2026
0.24%
Price
$24.95
Price change
-$0.06
Daily volume
212
Total fund assets Total Fund Assets as of 11/11/2026
$36.1M
Shares outstanding
1,450,001
Dividend frequency
Monthly
Inception date
11/09/2026
Morningstar category
Emerging Markets Bond
Performance & expenses
Expenses
Expense ratio gross As of current prospectus date
0.59%
Expense ratio net As of current prospectus date
0.59%
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.
Holdings
Top 10 as of 11/12/2026
% of Assets % of Assets
% of Assets
1 US DOLLAR
44.16%
2 NOTA DO TESOURO NACIONAL NOTES 01/29 10
2.86%
3 HUNGARY GOVERNMENT BOND BONDS 07/31 6.75
1.82%
4 MEX BONOS DESARR FIX RT SR UNSECURED 11/38 8.5
1.80%
5 REPUBLIC OF PERU SR UNSECURED REGS 08/37 6.9
1.44%
6 HUNGARY GOVERNMENT BOND BONDS 11/32 4.75
1.40%
7 PETROLEOS DE VENEZUELA S COMPANY GUAR REGS 05/24 6
1.33%
8 POLAND GOVERNMENT BOND BONDS 08/36 2
1.28%
9 BOI FINANCE BV GOVT GUARANT REGS 02/27 7.5
1.23%
10 REPUBLIC OF VENEZUELA SR UNSECURED REGS 05/23 9
1.19%
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 management
damien
Damien Buchet, CFA
Chief Investment Officer - Principal Finisterre
34 years of experience
Andy Fee, CFA
Senior Fixed Income Analyst
13 years of experience
Christopher Watson
Christopher Watson, CFA
Senior Portfolio Manager
27 years of experience

No information
Literature
Investment materials Enhanced fact sheet
Prospectus, Annual report, Semi-annual report and Statement of additional 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.
Emerging market debt may be subject to heightened default and liquidity risk.
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.
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
International investing involves greater risks such as currency fluctuations, political/social instability, and differing accounting standards.
Risk is magnified in emerging markets, which may lack established legal, political, business, or social structures to support securities markets.
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.
© 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.
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.