PQDIPrincipal Spectrum Preferred and Income ETF

Get income6y track recordRanked #1,057 of 1,650 in this goal

Seeks to provide current income.

By Principal Funds · Launched 2020

Annual Cost

0.60%

#3,235 of 5,861 · average

Fund Size

$70M

#3,319 of 5,861 · mid-size

Dividend YieldGoal

5.44%

Track Record

6 years

#2,087 of 5,861 · seasoned

Performance

Total-return NAV · USD

Growth of $10,000

$10,530+5.3%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Fixed income

Region

North america

Strategy

Option income

Focus

CoCo Bonds

What it actually holds

By weight

Concentration

Top 10 holdings = 27.5% of fund✓ well diversified

ING GROEP NV

3.5%

STATE STREET CORP

3.5%

CITIGROUP INC

3.4%

NORDEA BANK ABP

2.8%

BANK OF AMERICA CORP

2.5%

BANK OF MONTREAL

2.4%

CREDIT AGRICOLE SA

2.4%

GOLDMAN SACHS GROUP INC

2.4%

DOMINION ENERGY INC

2.4%

PNC FINANCIAL SERVICES

2.2%

Asset allocation

Preferred

49.9%

Bonds

49.3%

Cash

0.8%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years

Volatility (1Y)

3.4%Low

Year-on-year price swings

Max drawdown

-17.4%Moderate

Worst peak-to-trough loss

Sharpe (3Y)

1.42Strong risk-adjusted returns

Sortino (3Y)

2.12Good downside protection

Bond profile

Duration

7.2 years

Avg maturity

10.3 years

Credit ratings

2.0%

BBB

62.6%

35.4%

Listing

Exchange: NYSE Arca

Full fund details

Objective: Seeks to provide current income.
Strategy: Invests primarily in preferred securities and other income-producing securities, including investment-grade and below-investment-grade securities, to generate current income. Concentrates investments in the financial services sector, including banking and insurance, and may use derivatives for hedging and income generation.
Inception date: June 16, 2020
Fund family: Principal Funds

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Same asset class, closest by strategy & exposure

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Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call

Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04