PLRG — Principal U.S. Large-Cap Adaptive Multi-Factor ETF
Data updated: 2023-11-21
PLRG — Principal U.S. Large-Cap Adaptive Multi-Factor ETF. Global (incl. US) Large Cap Blend / Core Equity. Holdings, fees, performance and SEC filings.
PLRG Fund Overview
PLRG — Principal U.S. Large-Cap Adaptive Multi-Factor ETF is a US ETF managed by Principal Exchange-Traded Funds, categorised as Global (incl. US) Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Principal Exchange-Traded Funds
- Category: Global (incl. US) Large Cap Blend / Core Equity
- Assets under management: $6.35M
- 1-year return: 19.0%
- Ticker: PLRG
- SEC CIK: 0001572661
- SEC series ID: S000071621
- Share class ID: C000226997
PLRG Investment Objective and Strategy
Principal U.S. Large-Cap Adaptive Multi-Factor ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Principal Exchange-Traded Funds.
Investment objective
The Fund seeks long-term growth of capital.
Principal investment strategy
"Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of U.S. companies with large market capitalizations at the time of purchase. For this Fund, companies with large market capitalizations are those within the market capitalization range of the companies in the S&P 500 Index, which as of September 30, 2022, was between approximately $3.0 billion and $2.2 trillion. The Fund is considered non-diversified, which means it can invest a higher percentage of assets in securities of individual issuers than a diversified fund. As a result, changes in the value of a single investment could cause greater fluctuations in the Fund's share price than would occur in a more diversified fund. For security selection and portfolio construction, Principal Global Investors, LLC (""PGI"") uses a proprietary quantitative model.
The model is designed to identify and rank equity securities in the S&P 500 Index (the ""Index"") that correspond to factor categories including the following: Value companies securities with low prices relative to their fundamental value, measured by such metrics as earnings yield, free cash flow yield, and sales yield. Higher quality companies securities ranked based on metrics such as return on equity, sales growth, earnings growth, and balance sheet measures of quality (such as lower debt and accruals). Higher momentum companies securities ranked by evaluating recent performance. Lower volatility companies identified using the recent standard deviation of returns (in other words, how much such returns vary). The model incorporates a proprietary rules-based methodology that identifies the current market risk regime as lower, higher and increasing, or higher and decreasing and then weights securities within and among the factor categories based on the prevailing market regime.
During ""higher and decreasing"" market risk environments, the model is expected to correspond more closely to the weights used in the Index itself; however, in other regimes, the models selection and weighting is expected to differ from the Index in an effort to outperform the Index returns after fees and expenses. In ""lower"" risk environments, the model is expected to allocate more to value, quality, and momentum stocks, while de-emphasizing lower volatility stocks, whereas in ""higher and increasing"" risk environments the model is expected to allocate more to lower volatility stocks, as well as quality and momentum stocks, while de-emphasizing value stocks. For certain securities, the model assigns weights equal to that of the Index in all risk regimes. The Fund invested significantly in industries within the information technology sector as of September 30, 2022.
PGI expects to review the risk environment weekly. In circumstances where the risk environment does not change, the Fund's holdings are expected to be rebalanced semi-annually. Fund holdings will be rebalanced more frequently in the event of market risk regime shifts, which will result in increased portfolio turnover. PGI expects to review the model and risk environment regularly, and adjustments to the model and Fund holdings may be made at PGI's discretion. The Funds strategies may result in the active and frequent trading of the Funds portfolio securities. Note: ""Standard & Poor's 500"" and ""S&P 500 "" are trademarks of S&P Global and have been licensed by Principal. The Fund is not sponsored, endorsed, sold, or promoted by S&P Global, and S&P Global makes no representation regarding the advisability of investing in the Fund."
PLRG Performance
Total returns for PLRG (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 19.0% |
| 3 years (annualised) | 2.2% |
PLRG Risk Information
Risk metrics for PLRG, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.3%
PLRG Costs and Fees
PLRG costs about $15 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.15%
- Gross expense ratio: 0.15%
- Portfolio turnover: 107%
- Brokerage commissions: 1.67 bps of average net assets (SEC N-CEN)
PLRG Cashflows
Over the 12 months to 2023-09, Principal U.S. Large-Cap Adaptive Multi-Factor ETF had net inflows of $0, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-09 | $0 |
| 2023-08 | $0 |
| 2023-07 | $0 |
| 2023-06 | $0 |
| 2023-05 | $0 |
| 2023-04 | $0 |
PLRG Debt Constituents
No individual debt constituents are reported in Principal U.S. Large-Cap Adaptive Multi-Factor ETF's latest SEC N-PORT filing.
PLRG Prospectus and SEC Filings
Official Principal U.S. Large-Cap Adaptive Multi-Factor ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2022-10-27
- Prospectus (485BPOS) — filed 2021-10-27
- Prospectus (485BPOS) — filed 2021-04-26
- Portfolio holdings (N-PORT) — filed 2023-11-21
- Portfolio holdings (N-PORT) — filed 2023-08-09
- Portfolio holdings (N-PORT) — filed 2023-05-23
- Annual census (N-CEN) — filed 2023-09-08
- Annual census (N-CEN) — filed 2022-09-12
Related Funds
Other Global (incl. US) Large Cap Blend / Core Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.