A new filing from Principal Global Investors outlines plans for an ETF that will target the small-cap space via a Nasdaq index. The Principal U.S. Small Cap Index ETF will track an index that aims to select stocks that will exhibit alpha.
The benchmark uses a quantitative approach to select both growth and value stocks, with adjustments for liquidity and quality, the prospectus said.
The fund will list on the Nasdaq stock market and come with an expense ratio of 0.38%. However, the filing did not include a ticker.
Principal has three other listed ETFs currently trading, the largest of which is the actively managed Principal EDGE Active Income ETF (YLD), which rolled out almost exactly a year ago and has some $266 million in assets under management.
Contact Heather Bell at [email protected].