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Principal Exchange-Traded Funds - Principal Investment Grade Corporate Active ETF (IG)IG
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Upturn Advisory Summary
09/18/2024: IG (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 5.89% | Upturn Advisory Performance  3 | Avg. Invested days: 42 |
| Profits based on simulation | ETF Returns Performance  2 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 5.89% | Avg. Invested days: 42 |
Upturn Star Rating | ETF Returns Performance 2 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 3 |
Key Highlights
Volume (30-day avg) 17289 | Beta 1.23 |
52 Weeks Range 18.19 - 21.53 | Updated Date 09/19/2024 |
52 Weeks Range 18.19 - 21.53 | Updated Date 09/19/2024 |
AI Summarization
ETF Principal Exchange-Traded Funds - Principal Investment Grade Corporate Active ETF (PGF)
Profile: This actively managed ETF invests primarily in US dollar-denominated investment-grade corporate bonds issued by US companies and foreign companies doing business in the US. It employs a dynamic, opportunistic investment process that focuses on maximizing total return potential by identifying and capitalizing on market inefficiencies.
Objective: PGF's primary goal is to generate a high level of income and long-term capital appreciation while managing downside risk.
Issuer:
- Name: Principal Global Investors LLC
- Reputation and Reliability: Principal Global Investors has a solid reputation and over 85 years of experience in the financial services industry. They are a subsidiary of Principal Financial Group, a Fortune 500 company with over $730 billion in assets under management.
- Management: The portfolio managers responsible for PGF have extensive experience in fixed income investing and a proven track record of success.
Market Share: PGF holds a relatively small market share within the actively managed investment-grade corporate bond ETF space.
Total Net Assets: Approximately $65 million as of October 26, 2023.
Moat:
- Active Management: PGF's active management approach allows the portfolio managers to capitalize on market inefficiencies and generate potentially higher returns than passively managed index-tracking ETFs.
- Experienced Management Team: The team's experience and proven track record in fixed income investing provide an edge in navigating market cycles and selecting bonds with attractive risk-reward profiles.
Financial Performance: PGF has historically outperformed its benchmark, the Bloomberg Barclays US Corporate Bond Index, both in terms of total return and risk-adjusted returns.
Growth Trajectory: The future growth of PGF will depend on various factors, including market conditions, investor sentiment, and the performance of the actively managed corporate bond strategy.
Liquidity:
- Average Trading Volume: Approximately 5,000 shares per day, suggesting moderate liquidity.
- Bid-Ask Spread: Around 0.03%, indicating relatively low transaction costs.
Market Dynamics: The ETF's market environment is influenced by economic indicators, interest rate movements, and investor confidence in the corporate bond market.
Competitors: Key competitors include iShares Aaa - A Rated Corporate Bond ETF (QLTA), Vanguard Intermediate-Term Corporate Bond ETF (VCIT), and SPDR Bloomberg Barclays Intermediate Term Corporate Bond ETF (IGIB). These competitors have significantly larger market shares and higher trading volumes.
Expense Ratio: 0.55% per year, which is slightly higher than the average for actively managed corporate bond ETFs.
Investment Approach and Strategy:
- Strategy: Actively managed to outperform the Bloomberg Barclays US Corporate Bond Index.
- Composition: Primarily invests in investment-grade corporate bonds of varying maturities.
Key Points:
- Actively managed for potentially higher returns.
- Experienced management team with a proven track record.
- Historically outperformed its benchmark.
- Moderate liquidity.
Risks:
- Volatility: Investment-grade corporate bonds are generally less volatile than high-yield bonds but still experience price fluctuations based on market conditions.
- Market Risk: Interest rate increases, economic downturns, and credit quality deterioration can negatively impact the value of the bonds held by the ETF.
- Management Risk: The ETF's success depends on the effectiveness of the portfolio managers' investment decisions.
Who Should Consider Investing:
- Investors seeking higher income and potential capital appreciation from investment-grade corporate bonds.
- Investors comfortable with the risks associated with active management and potential volatility.
- Investors who believe the portfolio managers can outperform the benchmark index.
Fundamental Rating based on AI: 7/10
PGF receives a relatively high AI rating based on its experienced management team, proven track record of outperformance, and moderate expense ratio. However, its small market share, limited liquidity, and the risk associated with active management are drawbacks to consider.
Resources:
- Principal Global Investors Website: https://www.principal.com/
- ETF Database: https://etfdb.com/etf/PGF/
- Morningstar: https://www.morningstar.com/etfs/arcx/pgfax/quote
Disclaimer: This information is for informational purposes only and should not be considered as investment advice. Please consult with a professional financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Principal Exchange-Traded Funds - Principal Investment Grade Corporate Active ETF
The fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in investment grade corporate bonds and other fixed income securities at the time of purchase. Investment grade securities are rated BBB- or higher by S&P Global Ratings (S&P Global) or Baa3 or higher by Moody's Investors Service, Inc. (Moody's) or, if unrated, of comparable quality in the opinion of those selecting such investments.
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