PSM — Principal U.S. Small-MidCap Multi-Factor Core Index ETF
Data updated: 2020-11-18
PSM — Principal U.S. Small-MidCap Multi-Factor Core Index ETF. Developed ex-US Mid Cap Blend / Core Equity. Holdings, fees, performance and SEC filings.
PSM Fund Overview
PSM — Principal U.S. Small-MidCap Multi-Factor Core Index ETF is a US ETF managed by Principal Exchange-Traded Funds, categorised as Developed ex-US Mid 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: Developed ex-US Mid Cap Blend / Core Equity
- Assets under management: $9.26M
- 1-year return: -4.5%
- Ticker: PSM
- SEC CIK: 0001572661
- SEC series ID: S000065974
- Share class ID: C000213039
PSM Investment Objective and Strategy
Principal U.S. Small-MidCap Multi-Factor Core Index 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 to provide investment results that closely correspond, before expenses, to the performance of the Nasdaq US Small Mid Cap Select Leaders Core Index (the ""Index"")."
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 small- to medium-market capitalizations that compose the Index at the time of purchase. The Index uses a quantitative model designed to identify equity securities of companies in the Nasdaq US Small Cap Index and Nasdaq US Mid Cap Index (the ""Parent Indexes"") that exhibit potential for high degrees of value, quality growth and strong momentum, while adjusting for liquidity and volatility. The Parent Indexes are composed of equity securities of issuers with small- to medium-market capitalizations. For this Fund, companies with small- to medium-market capitalizations are those within the market capitalization range of the companies comprising the Parent Indexes collectively, which as of June 30, 2020, was between approximately $42.0 million and $42.5 billion .
The Index includes securities that are in the top 90% of the Parent Indexes by three month average daily dollar trading volume, and the top 20% of the final rank in the current valuation (or top 50% if included in the Index in the prior period). Securities are ranked according to three factors: The Value Factor ranks securities based on the collective financial impact on a company's shareholders from the return of free cash flow through cash dividends, stock repurchases, and debt reduction. This factor is designed to identify securities with low prices relative to their fundamental value. The Quality Growth Factor ranks securities based on consistent sales growth, earnings quality and growth, and profitability, while taking price volatility into account. The Momentum Factor ranks securities by evaluating price momentum over multiple horizons to determine sustainability.
The portfolio is constructed using an industry-neutral approach (each industry maintains similar weight as the initial universe of stocks). Securities are weighted by their liquidity-volatility score, in an effort to give greater weight to securities that are more liquid and less volatile. The Index is rebalanced semi-annually. Additionally, throughout the year securities that become ineligible for the Index are removed and not replaced. The Fund will make corresponding changes to its portfolio shortly after Index changes are made public. As of June 30, 2020, the Index included 640 components, and the Parent Indexes collectively included 507 components. More detailed information about the Index methodology is provided in the prospectus under Fund Account Information. The Fund employs a passive investment approach designed to attempt to track the performance of the Index.
In seeking its objective, the Fund typically employs a ""full replication"" strategy which involves investing in all the securities that make up the Index, in the same approximate proportions as the Index. The Fund can, however, use a sampling methodology to purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The Fund can also invest in securities not included in the Index that the advisor believes will help the fund track the Index. The Fund will not concentrate (invest more than 25% of its assets) its investments in a particular industry except to the extent the Index is so concentrated."
PSM Performance
Total returns for PSM (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -4.5% |
PSM Risk Information
Risk metrics for PSM, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 31.9%
PSM Costs and Fees
PSM costs about $20 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.20%
- Gross expense ratio: 0.20%
- Portfolio turnover: 72%
- Brokerage commissions: 5.16 bps of average net assets (SEC N-CEN)
PSM Cashflows
Over the 12 months to 2020-09, Principal U.S. Small-MidCap Multi-Factor Core Index ETF had net inflows of $8.09K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-09 | $0 |
| 2020-08 | $0 |
| 2020-07 | $0 |
| 2020-06 | $0 |
| 2020-05 | $0 |
| 2020-04 | $0 |
PSM Debt Constituents
No individual debt constituents are reported in Principal U.S. Small-MidCap Multi-Factor Core Index ETF's latest SEC N-PORT filing.
PSM Prospectus and SEC Filings
Official Principal U.S. Small-MidCap Multi-Factor Core Index ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-10-28
- Prospectus (485BPOS) — filed 2019-11-20
- Prospectus supplement (497) — filed 2019-07-11
- Portfolio holdings (N-PORT) — filed 2020-11-18
- Portfolio holdings (N-PORT) — filed 2020-08-06
- Portfolio holdings (N-PORT) — filed 2020-05-27
- Annual census (N-CEN) — filed 2020-09-09
Related Funds
Other Developed ex-US Mid 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.