ETF Evaluator:
Principal Capital Appreciation Sel ETF ()
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(as of Aug 26)
Best Performing in Large Blend Over the Last Year
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ETF Details
Principal Capital Appreciation Sel ETF Overview
Principal Capital Appreciation Sel ETF (LCAP) is an actively managed U.S. Equity Large Blend exchange-traded fund (ETF). Principal Funds launched the ETF in 2025.
The investment seeks to provide long-term growth of capital.
The fund invests primarily in equity securities of U.S. companies with any market capitalization, but it has a greater exposure to large market capitalization companies than small or medium market capitalization companies. Although there is no restriction on the size of the companies in which the fund invests, most of the fund's investments typically include companies with a market capitalization range over $10 billion at the time of purchase. The fund is non-diversified.
About Principal Capital Appreciation Sel ETF (LCAP)
There are 2 members of the management team with an average tenure of 1.35 years: Theodore Jayne (2025) and Daniel Coleman (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Russell 1000 TR USD index with a weighting of 100%. Principal Capital Appreciation Sel ETF has 54 securities in its portfolio. The top 10 holdings constitute 42.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Principal Capital Appreciation Sel ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Principal Capital Appreciation Sel ETF has 3.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 93.1% There is 3.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Principal Capital Appreciation Sel ETF has 3.0% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
LCAP Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Principal Capital Appreciation Sel ETF expense ratio is below average compared to funds in the Large Blend category. Principal Capital Appreciation Sel ETF has an expense ratio of 0.29%, which is 30% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Principal Capital Appreciation Sel ETF has a portfolio turnover rate of 14%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, Principal Capital Appreciation Sel ETF returned -0.3%, which earned it a grade of C, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Principal Capital Appreciation Sel ETF has a trailing yield of 0.10%, which is below the 1.16% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Principal Capital Appreciation Sel ETF Grades
Year to date, the ETF has returned 12.0%, 2.4 percentage points better than the category, which translates into a grade of B. The fund has returned 21.4% over the past year (grade of A).
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LCAP Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| LCAP Return (NAV) | -0.3% | 3.6% | 21.4% | na | na | na |
| LCAP Return (Price) | -0.1% | 3.5% | 21.4% | na | na | na |
| NAV +/- Price Return | -0.143% | 0.104% | -0.013% | na | na | na |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| LCAP Grade (NAV) | C | D | A | na | na | na |
| +/- Category (NAV) | 0.6% | -0.1% | 3.9% | na | na | na |
| LCAP Tax-Cost Ratio | na | na | 0.0% | na | na | na |
LCAP Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| LCAP Return (NAV) | 12.0% | na | na | na | na | na | na | na | na | na | na |
| LCAP Return (Price) | 12.1% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.006% | na | na | na | na | na | na | na | na | na | na |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| LCAP Grade (NAV) | B | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.4% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.1% |
| Total Assets: | $ 1,831 Mil |
| Share Class Assets: | $ 1,831 Mil |
| Turnover: | 14.7% |
| Expense Ratio: | 0.29% |
| Index Fund: | No |
| Index Tracked: | Russell 1000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Jayne Theodore (2025), Coleman Daniel (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 54 |
| % in Top 10 Holdings: | 42.8% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 3.9% |
Portfolio Allocation |
|
| Domestic Stock: | 93.1% |
| Foreign Stock: | 3.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Principal Funds |
| Phone Number: | 800-222-5852 |
| Website: | |
| Inception Date: | March 25, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.29% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.41% |
