PSET Fees and Costs — Principal Quality ETF
Data updated: 2026-09-10
The net expense ratio is 0.15%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $10K in broker commissions, 0.0250% of average net assets, and portfolio turnover was 39%.
PSET Fees and Expenses
Annual operating expenses and sales charges of PSET. Prospectus, as of November 1, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.15% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.15% |
| Fee waiver | — |
| Net expense ratio | 0.15% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PSET Costs Over Time
On $10,000 invested in PSET, assuming 5% a year before costs, total costs come to $111 over 5 years, cutting the return by 0.18% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.15%) | $16 | $50 | $87 |
| Trading costs (broker commissions) | $3 | $8 | $14 |
| Lost growth on money paid in costs | $0 | $3 | $10 |
| Total costs | $18 | $61 | $111 |
| Value after costs | $10,482 | $11,516 | $12,652 |
| Impact on return, per year | 0.18% | 0.18% | 0.18% |
PSET Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0250%
- Total broker commissions: $10K
- Bought from dealers (principal trades, not a cost): $76.3M
- Portfolio turnover (prospectus): 39%
- Securities lending: none during the year
PSET Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Virtu Americas LLC | $10K | 97.57% |
| J.P. Morgan Securities LLC | $110 | 1.12% |
| Citation Group Ltd. | $52 | 0.53% |
| BofA Securities, Inc. | $47 | 0.48% |
| Sanford C. Bernstein & Co., LLC | $24 | 0.24% |
| Citigroup Global Markets Inc. | $5 | 0.05% |
| BMO Capital Markets Corp. | $1 | 0.01% |
PSET Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $74.7M | 97.92% |
| State Street Bank and Trust Company | $1.6M | 2.08% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.