Principal Ultra-Short Active Income ETF
USI
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- Principal Exchange-Traded Funds - Principal Ultra-Short Active Income ETF (USI) operates as an actively managed exchange-traded fund that seeks current income by investing primarily in investment-grade fixed- and floating-rate securities, including corporate bonds, foreign securities, and U.S. and foreign government securities, while maintaining an average effective maturity of three years or less and an average duration of one year or less under normal circumstances. The fund aims to generate alpha through security selection relative to the Bloomberg U.S. 1-3 Month T-Bill Index, targeting investors seeking ultra-short duration fixed income exposure with low interest rate risk. Launched on April 24, 2019, and issued by Principal Exchange-Traded Funds, a unit under Principal Asset ManagementSM of Principal Financial Group, Inc. (founded 1879 and headquartered in Des Moines, Iowa), USI trades on NYSE Arca with assets under management of approximately $7.26 million and a net expense ratio of 0.18% as of recent data. In a significant operational change announced on December 13, 2022, Principal Asset Management elected to close and liquidate the USI ETF following a standard review of its exchange-traded product lineup to better align with investor demand and market conditions, halting trading after market close on or about February 17, 2023, and distributing proceeds to shareholders on or about February 24, 2023. Despite the liquidation plan from 2023, recent trading data as of 2025 indicates minimal ongoing activity with low volume and share price around $24, suggesting possible delays, residual trading, or data persistence post-wind down. Principal Financial Group continues to expand its broader ETF offerings, including the launch of the Principal International Equity ETF (PIEQ) in November 2024, as part of a lineup now comprising 10 active ETFs with approximately $4.7 billion in combined assets under management.