ETF Evaluator:
Principal Inflation Protection ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Short-Term Inflation-Protected Bond Over the Last Year
| 4.1% | F/m Ultrshrt Trs Infl-Protd Sec TIPS ETF (RBIL) |
| 3.5% | Vanguard Short-Term Infl-Prot Secs ETF (VTIP) |
| 3.5% | iShares 0-5 Year TIPS Bond ETF (STIP) |
| 3.4% | Invesco 0-5 Yr US TIPS ETF (PBTP) |
| 3.4% | iShares iBonds 1-5 Year TIPS Ladder ETF (LDRI) |
Risk
Index
Risk
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ETF Details
Principal Inflation Protection ETF Overview
Principal Inflation Protection ETF (RIZE) is an actively managed Taxable Bond Short-Term Inflation-Protected Bond exchange-traded fund (ETF). Principal Funds launched the ETF in 2026.
The investment seeks to provide current income; as a secondary objective, capital appreciation during periods of rising U.S. inflation.
Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in inflation-protected securities.
About Principal Inflation Protection ETF (RIZE)
There are 2 members of the management team with an average tenure of 0.28 years: Zach Gassmann (2026) and Jeff Callahan (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Treasury TIPS 0-5Y Yld USD index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Principal Inflation Protection ETF has 25 securities in its portfolio. The top 10 holdings constitute 54.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Principal Inflation Protection ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Principal Inflation Protection ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 91.4% (91.4% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Principal Inflation Protection ETF has 8.7% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $3 billion average for the Short-Term Inflation-Protected Bond 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.
RIZE 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 Inflation Protection ETF expense ratio is low compared to funds in the Short-Term Inflation-Protected Bond category. Principal Inflation Protection ETF has an expense ratio of 0.19%, which is 43% higher than its category average, making the fund expense ratio grade a D. 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 Inflation Protection ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 38% for the Short-Term Inflation-Protected Bond category.
Recently, in the month of July 2026, Principal Inflation Protection ETF returned 0.2%, which earned it a grade of B, as the Short-Term Inflation-Protected Bond category had an average return of 0.2%. 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 Inflation Protection ETF has a trailing yield of 0.00%, which is below the 4.76% category average.
The fund normally distributes its income monthly 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.
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RIZE 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 |
|
| RIZE Return (NAV) | 0.2% | na | na | na | na | na |
| RIZE Return (Price) | 0.1% | na | na | na | na | na |
| NAV +/- Price Return | 0.071% | na | na | na | na | na |
| Short-Term Inflation-Protected Bond Avg | 0.2% | -0.0% | 3.4% | 4.9% | 2.7% | 3.0% |
| RIZE Grade (NAV) | B | na | na | na | na | na |
| +/- Category (NAV) | 0.0% | na | na | na | na | na |
| RIZE Tax-Cost Ratio | na | na | na | na | na | na |
RIZE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RIZE Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| RIZE Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Short-Term Inflation-Protected Bond Avg | 1.9% | 6.3% | 4.3% | 4.5% | -4.2% | 5.4% | 6.0% | 5.3% | 0.2% | 0.9% | 3.0% |
| RIZE Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | 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: | -- |
| Total Assets: | $ 11 Mil |
| Share Class Assets: | $ 11 Mil |
| Turnover: | na |
| Expense Ratio: | 0.19% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Treasury TIPS 0-5Y Yld USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.3 years | |||
| Average Tenure: 0.3 years | |||
| Managers (Year): Gassmann Zach (2026), Callahan Jeff (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 25 |
| % in Top 10 Holdings: | 54.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 91.4% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 8.7% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Principal Funds |
| Phone Number: | 800-222-5852 |
| Website: | |
| Inception Date: | May 21, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.19% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.13% |
