Under normal circumstances, the Fund invests at least 80 percent of its net assets, plus any borrowings for investment purposes, in equity securities of companies with large market capitalizations at the time of purchase that, in the opinion of Principal Global Investors, LLC, the Fund's investment advisor, display characteristics of a blue-chip company. The Fund is an actively managed non-transparent ETF that operates pursuant to an exemptive order from the Securities and Exchange Commission (Non-Transparent Order) and does not publicly disclose its complete portfolio holdings each business day. Instead, the Fund publishes each business day on its website a Tracking Basket, which is designed to closely track the daily performance of the Fund but is not the Funds actual portfolio. The Tracking Basket is comprised of select recently disclosed portfolio holdings; liquid ETFs that convey information about the types of instruments that are not otherwise fully represented by the Strategy Components in which the Fund invests; and cash and cash equivalents.