Fund Description: Principal Investment Grade Corporate Active ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the Principal Exchange-Traded Funds, an open-end investment management company. INVESTMENT OBJECTIVE: The Principal Investment Grade Corporate Active ETF seeks to provide current income and, as a secondary objective, capital appreciation. The Fund is an actively managed ETF and thus does not seek to replicate the performance of a specified index. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus any borrowings for investment purposes, in investment grade corporate bonds and other fixed income securities at the time of purchase. The fixed income securities in which the Fund invests include foreign securities, corporate securities, securities issued or guaranteed by the U.S. government or its agencies and instrumentalities, and securities issued or guaranteed by foreign governments payable in U.S. dollars. The Fund invests in other investment companies, including exchange-traded funds that invest in fixed income securities. The portfolio is not managed to a particular maturity. The Fund utilizes exchange-traded and over-the-counter derivative strategies. The Fund invests in treasury futures for hedging or to otherwise manage fixed income exposure, as well as credit default swaps, including buying and selling on individual securities and/or baskets of securities, to efficiently manage exposures to certain sectors or individual issuers. FUND MANAGEMENT: Principal Global Investors, LLC serves as the investment adviser to the Fund.