Principal Value ETF
PY
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- Principal Value ETF (PY) is an actively managed exchange-traded fund that seeks long-term growth of capital by investing at least 80% of its net assets in equity securities of value companies with market capitalizations within the range of the S&P 500 Index, typically between $6.5 billion and $4.6 trillion as of September 30, 2025; it employs a proprietary quantitative model developed by Principal Global Investors, LLC to select mid- to large-cap U.S. stocks exhibiting high shareholder yield through dividends, share repurchases, and strong cash flow generation; the fund targets dividend-paying companies with financial flexibility to sustain and grow payouts and buybacks, categorized in the large value segment with top holdings including Apple Inc., NVIDIA Corp., Microsoft Corp., Johnson & Johnson, and Caterpillar Inc.. Launched on March 21, 2016, and traded on the NASDAQ under the ticker PY, the ETF is issued by Principal Financial Group, Inc., advised by Principal Global Investors, LLC, with portfolio management led by Kyle Johnson, CFA, and Aaron Siebel, CFA; it distributes quarterly dividends, maintains a net expense ratio of 0.15%, and as of December 2025 holds total assets under management of approximately $123.6 million with around 113 holdings focused on U.S. developed markets, primarily in financials, industrials, and information technology sectors.. A significant strategic shift occurred prior to June 24, 2022, when the fund's objective and strategy changed from its prior approach, rendering pre-2022 performance not fully representative of current results; no major acquisitions, funding rounds, partnerships, or new product launches specific to PY have been announced in the last 1-2 years, though Principal Asset Management revealed in December 2025 plans to rename and exchange-list another ETF in its lineup effective April 2026, signaling ongoing review of its ETF offerings.. The ETF operates exclusively in U.S. equity markets, targeting institutional and retail investors seeking value-oriented exposure with income growth potential beyond traditional dividend yield..