Fund Description: Principal Active Income ETF , formerly, Principal EDGE Active Income 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 Active Income ETF seeks to provide current income. 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, its assets in investment grade and non-investment grade fixed income securities and in equity securities. In pursuing its strategies, the Advisor actively and tactically allocates the Fund’s assets among fixed income securities and equity securities in an effort to take advantage of changing economic conditions that the Advisor believes favors one asset class over another. Based on analysis of various economic and market forces, the Advisor increases the allocation to the asset class that it believes has a higher probability of achieving the Fund’s objective of providing current income. A portion of the Fund's net assets is invested in a diversified portfolio of investment grade and non-investment grade fixed income securities issued by U.S., supranational and non-U.S. issuers, including investments in convertible bonds, U.S. government and agency securities, asset-backed, mortgage-backed, and commercial mortgage-backed securities (securitized products), and sovereign debt. The fixed income portfolio is not managed to a particular average duration or maturity. FUND MANAGEMENT: Principal Global Investors, LLC serves as the investment advisor to the Fund.