New ETFs On The Block: Principal Shareholder Yield Index ETF (PY)

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Principal Financial, the Iowa-based retirement and mutual funds specialist, recently expanded its exchange-traded fund offerings with the launch of two new so-called smart-beta funds. Principal is one of the biggest asset managers in the US, yet it was largely missing from the ETF landscape with just one actively-managed product to its name. The Principal Shareholder Yield Index ETF (PY) targets …