Principal International Adaptive Multi-Factor ETF
PXUS
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- Principal Exchange-Traded Funds - Principal International Adaptive Multi-Factor ETF (PXUS) is an exchange-traded fund that seeks long-term growth of capital by investing at least 80% of its net assets in equity securities composing a proprietary adaptive multi-factor index. The index applies a quantitative model to select and weight securities from the Nasdaq Developed Market Ex-US Ex-Korea Large Mid Cap Index, emphasizing value, growth, and momentum factors alongside liquidity and volatility metrics; top-ranked securities receive higher allocations, with individual weights capped at 1.5%. The fund employs a full replication or sampling strategy to track the index and trades on the Cboe BZX Exchange with an expense ratio of 0.24%. Principal Exchange-Traded Funds, the issuer, operates as a subsidiary of Principal Financial Group, Inc. (Nasdaq: PFG) with Principal Global Investors, LLC serving as investment manager; the entity is headquartered at 711 High Street, Des Moines, Iowa, and launched PXUS around 2017 as part of its adaptive multi-factor ETF suite. PXUS targets institutional and retail investors seeking exposure to developed international markets excluding the U.S. and Korea, focusing on large- and mid-cap equities from countries such as those in Europe, Japan, and Australia; top holdings include companies like Nestlé S.A. Recent developments include Principal Asset Management's ongoing expansion of its active and multi-factor ETF lineup, highlighted by the March 2025 launch of the Principal Capital Appreciation Select ETF (LCAP) and announcements of naming and exchange changes for other funds, such as the Principal Investment Grade Corporate Active ETF transitioning to Cboe BZX effective April 2026. In October 2025, Principal Financial Group partnered with Barings for a $1 billion allocation to private investment grade strategies, enhancing its broader asset management capabilities that oversee the ETF platform. These initiatives reflect Principal's strategic focus on scaling ETF offerings, with total assets under management exceeding $600 billion across public and private markets globally.