PSM Fees and Costs — Principal U.S. Small-MidCap Multi-Factor Core Index ETF
Data updated: 2020-11-18
The net expense ratio is 0.20%. There are no sales loads or redemption fees. In fiscal 2020 the fund paid $5K in broker commissions, 0.0516% of average net assets, and portfolio turnover was 72%.
PSM Fees and Expenses
Annual operating expenses and sales charges of PSM. Prospectus, as of October 31, 2020.
| Annual operating expenses | |
|---|---|
| Management fee | 0.20% |
| 12b-1 fee | — |
| Other expenses | 0.00% |
| Gross expense ratio | 0.20% |
| Fee waiver | — |
| Net expense ratio | 0.20% |
| 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 |
PSM Costs Over Time
On $10,000 invested in PSM, assuming 5% a year before costs, total costs come to $160 over 5 years, cutting the return by 0.26% 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 0.20%) | $21 | $66 | $115 |
| Trading costs (broker commissions) | $5 | $17 | $30 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $26 | $87 | $160 |
| Value after costs | $10,474 | $11,489 | $12,603 |
| Impact on return, per year | 0.26% | 0.26% | 0.26% |
PSM Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2020.
- Explicit cost rate (commissions ÷ average net assets): 0.0516%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $15.9M
- Portfolio turnover (prospectus): 72%
- Securities on loan, average value: $85K
- Net income from securities lending: $4K (0.038% of average net assets)
PSM Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Bofa Securities, Inc. | $5K | 97.25% |
| J.P. Morgan Securities LLC | $38 | 0.77% |
| Citigroup Global Markets Inc. | $23 | 0.48% |
| Virtu Americas LLC | $19 | 0.39% |
| Sanford C. Bernstein & Co., LLC | $13 | 0.27% |
| Hilltop Securities Inc. | $11 | 0.23% |
| Barclays Capital Inc. | $8 | 0.17% |
| National Financial Services LLC | $8 | 0.17% |
| Mirae Asset Securities (USA) Inc. | $8 | 0.15% |
| Goldman Sachs & Co. LLC | $6 | 0.13% |
PSM Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| National Securities Clearing Corporation | $13.3M | 83.69% |
| State Street Bank and Trust Company | $2.6M | 16.31% |
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.