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Trending ETFs

Name

As of 07/10/2024

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

$19.00

$160 M

7.23%

$1.37

0.39%

Vitals

YTD Return

4.3%

1 yr return

11.3%

3 Yr Avg Return

3.1%

5 Yr Avg Return

4.6%

Net Assets

$160 M

Holdings in Top 10

20.1%

52 WEEK LOW AND HIGH

$19.1
$17.66
$19.20

Expenses

OPERATING FEES

Expense Ratio 0.39%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 19.50%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 07/10/2024

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

$19.00

$160 M

7.23%

$1.37

0.39%

YLD - Profile

Distributions

  • YTD Total Return 4.3%
  • 3 Yr Annualized Total Return 3.1%
  • 5 Yr Annualized Total Return 4.6%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.90%
DIVIDENDS
  • Dividend Yield 7.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Principal Active High Yield ETF (formerly Principal Active Income ETF)
  • Fund Family Name
    Principal Funds
  • Inception Date
    Jul 08, 2015
  • Shares Outstanding
    11600000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Darrin Smith

Fund Description

The Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in below-investment-grade (commonly known as "junk" or "high yield") fixed-income securities, such as bonds and bank loans. "Below investment grade" securities are rated Ba1 or lower by Moody’s Investors Service, Inc. and BB+ or lower by S&P Global Ratings. If securities are rated differently by the rating agencies, the highest rating is used. If the security has been rated by only one of those agencies, that rating will determine whether the security is below investment grade. If the security has not been rated by either of those agencies, those selecting such investments will determine whether the security is of a quality comparable to those rated below investment grade. To select investments for the Fund, the Advisor incorporates top-down perspective (using macroeconomic and risk perspective while reviewing sectors based on their fundamental, technical, and valuations factors) followed by bottom-up perspective (using fundamental credit analysis).
The Fund invests in U.S. treasury securities, investment grade bank loans (also known as senior floating rate interests), and preferred securities. The Fund's investments include securities of foreign issuers, including those located in developing or emerging markets. Under normal circumstances, the Fund maintains an average portfolio duration that is within ±25% of the duration of the Bloomberg U.S. Corporate High Yield 2% Issuer Capped Index, which as of September 30, 2023 was 3.69 years. The Fund is not managed to a particular maturity.
The Fund invests in derivatives, including currency swaps and credit default swaps, for hedging purposes and to manage fixed-income exposure in an effort to increase or decrease, in an efficient manner, exposures to certain sectors or individual issuers. 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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YLD - Performance

Return Ranking - Trailing

Period YLD Return Category Return Low Category Return High Rank in Category (%)
YTD 4.3% -7.0% 9.6% 18.20%
1 Yr 11.3% -3.4% 18.8% 22.86%
3 Yr 3.1%* -15.5% 20.2% 11.74%
5 Yr 4.6%* -12.2% 37.0% 13.07%
10 Yr N/A* -5.3% 19.6% 13.75%

* Annualized

Return Ranking - Calendar

Period YLD Return Category Return Low Category Return High Rank in Category (%)
2023 5.7% -4.7% 14.3% 37.94%
2022 -14.3% -33.4% 3.6% 28.85%
2021 4.9% -8.4% 8.2% 2.34%
2020 -3.2% -13.2% 302.7% 93.81%
2019 8.1% -4.4% 13.3% 48.94%

Total Return Ranking - Trailing

Period YLD Return Category Return Low Category Return High Rank in Category (%)
YTD 4.3% -7.0% 9.6% 18.20%
1 Yr 11.3% -3.4% 18.8% 22.86%
3 Yr 3.1%* -15.5% 20.2% 11.74%
5 Yr 4.6%* -12.2% 37.0% 13.07%
10 Yr N/A* -5.3% 19.6% N/A

* Annualized

Total Return Ranking - Calendar

Period YLD Return Category Return Low Category Return High Rank in Category (%)
2023 12.9% -4.7% 18.7% 29.05%
2022 -8.8% -33.4% 47.8% 22.76%
2021 9.5% -8.4% 12.4% 5.01%
2020 1.5% -9.6% 325.6% 91.92%
2019 13.6% -3.8% 19.4% 52.47%

YLD - Holdings

Concentration Analysis

YLD Category Low Category High YLD % Rank
Net Assets 160 M 1.45 M 23.6 B 77.69%
Number of Holdings 129 2 2888 90.46%
Net Assets in Top 10 34.1 M -492 M 5.26 B 72.66%
Weighting of Top 10 20.05% 4.4% 144.6% 21.30%

Top 10 Holdings

  1. State Street Institutional U.S. Government Money Market Fund Premier Class 6.16%
  2. Principal Government Money Market Fund 2.09%
  3. Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp. 1.65%
  4. JPMorgan Chase Co. 1.48%
  5. Olympus Water U.S. Holding Corp. 1.47%
  6. Credit Acceptance Corp. 1.46%
  7. Smyrna Ready Mix Concrete LLC 1.45%
  8. AmeriTex HoldCo Intermediate LLC 1.44%
  9. Global Aircraft Leasing Co. Ltd. 1.42%
  10. Barclays PLC 1.42%

Asset Allocation

Weighting Return Low Return High YLD % Rank
Bonds
93.60% -0.88% 154.38% 70.57%
Cash
8.25% -52.00% 91.75% 14.31%
Stocks
0.00% 0.00% 99.58% 96.36%
Preferred Stocks
0.00% 0.00% 7.50% 94.12%
Other
0.00% -63.70% 100.29% 80.45%
Convertible Bonds
0.00% 0.00% 17.89% 98.89%

Bond Sector Breakdown

Weighting Return Low Return High YLD % Rank
Corporate
94.13% 0.00% 100.00% 54.30%
Cash & Equivalents
8.25% 0.00% 91.75% 13.04%
Securitized
0.11% 0.00% 97.24% 37.10%
Derivative
0.00% -14.70% 42.26% 79.01%
Municipal
0.00% 0.00% 1.17% 91.72%
Government
0.00% 0.00% 99.07% 92.99%

Bond Geographic Breakdown

Weighting Return Low Return High YLD % Rank
US
93.60% -0.88% 129.21% 54.53%
Non US
0.00% 0.00% 96.20% 94.59%

YLD - Expenses

Operational Fees

YLD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.39% 0.02% 38.33% 95.56%
Management Fee 0.39% 0.00% 1.84% 12.20%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

YLD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

YLD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

YLD Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 19.50% 1.00% 255.00% 2.43%

YLD - Distributions

Dividend Yield Analysis

YLD Category Low Category High YLD % Rank
Dividend Yield 7.23% 0.00% 11.76% 27.01%

Dividend Distribution Analysis

YLD Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

YLD Category Low Category High YLD % Rank
Net Income Ratio 3.90% -2.39% 14.30% 74.11%

Capital Gain Distribution Analysis

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

Distributions History

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YLD - Fund Manager Analysis

Managers

Darrin Smith


Start Date

Tenure

Tenure Rank

Sep 01, 2021

0.75

0.8%

Darrin, CFA, is a portfolio manager and a member of the high yield portfolio management team, with responsibility for high yield securities and leveraged loans. Darrin joined the firm in 2007. Previously, Darrin was a vice president and senior portfolio manager at Aviva Capital Management. He received an MBA from Drake University and a bachelor's degree in economics from Iowa State University. Darrin is a member of the CFA Institute and the CFA Society of Iowa. He is a Fellow of the Life Management Institute (FLMI) and a member of the Life Officers' Management Association (LOMA).

Joshua Rank


Start Date

Tenure

Tenure Rank

Sep 01, 2021

0.75

0.8%

Joshua is a high yield portfolio manager at Principal Global Investors. He is responsible for high yield and leveraged loan strategies. Joshua joined the firm in 2013. Prior to his current role, Joshua served as a vice president, senior high yield portfolio manager at Aviva Investors Americas. He received a bachelor's degree in finance from Iowa State University. Joshua holds the Chartered Financial Analyst designation.

Mark Denkinger


Start Date

Tenure

Tenure Rank

Sep 01, 2021

0.75

0.8%

Mark is a portfolio manager at Principal Global Fixed Income, with responsibility for high yield credit and leveraged loans. Previously, Mark was the managing director of fixed income credit research and trading. Mark joined the firm in 1990 and assumed his current role in 2004, having previously served as a portfolio manager and senior research analyst. He received his bachelor's degree in finance and an MBA with a finance emphasis from the University of Iowa. Mark has earned the right to use the CFA designation. He is a member of the CFA Institute and the CFA Society of Iowa.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.17 8.17