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    <link:label id="lab_ck0001572661_EmergingMarketsRiskMember_label_en-US" xlink:label="lab_ck0001572661_EmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Emerging Markets Risk Member</link:label>
    <link:label id="lab_ck0001572661_EmergingMarketsRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_EmergingMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Emerging Markets Risk Member</link:label>
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    <link:label id="lab_ck0001572661_FixedIncomeSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_FixedIncomeSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed-Income Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_FixedIncomeSecuritiesRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_FixedIncomeSecuritiesRiskMember"/>
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    <link:label id="lab_ck0001572661_EquitySecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_EquitySecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_EquitySecuritiesRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_EquitySecuritiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_EquitySecuritiesRiskMember" xlink:to="lab_ck0001572661_EquitySecuritiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_EmergingMarketsRiskFrontierMarketsRiskMember_label_en-US" xlink:label="lab_ck0001572661_EmergingMarketsRiskFrontierMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Emerging Markets Risk, Frontier Markets Risk Member</link:label>
    <link:label id="lab_ck0001572661_EmergingMarketsRiskFrontierMarketsRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_EmergingMarketsRiskFrontierMarketsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Emerging Markets Risk, Frontier Markets Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_EmergingMarketsRiskFrontierMarketsRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_EmergingMarketsRiskFrontierMarketsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_EmergingMarketsRiskFrontierMarketsRiskMember" xlink:to="lab_ck0001572661_EmergingMarketsRiskFrontierMarketsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_DistributionTaxRiskMember_label_en-US" xlink:label="lab_ck0001572661_DistributionTaxRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Tax Risk Member</link:label>
    <link:label id="lab_ck0001572661_DistributionTaxRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_DistributionTaxRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distribution Tax Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_DistributionTaxRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_DistributionTaxRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_DistributionTaxRiskMember" xlink:to="lab_ck0001572661_DistributionTaxRiskMember" xlink:type="arc" order="1"/>
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    <link:label id="lab_ck0001572661_DerivativesRiskCurrencyContractsMember_documentation_en-US" xlink:label="lab_ck0001572661_DerivativesRiskCurrencyContractsMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Currency Contracts Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_DerivativesRiskCurrencyContractsMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_DerivativesRiskCurrencyContractsMember"/>
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    <link:label id="lab_ck0001572661_CoveredCallRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_CoveredCallRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Covered Call Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_CoveredCallRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_CoveredCallRiskMember"/>
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    <link:label id="lab_ck0001572661_ForeignCurrencyRiskMember_label_en-US" xlink:label="lab_ck0001572661_ForeignCurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Currency Risk Member</link:label>
    <link:label id="lab_ck0001572661_ForeignCurrencyRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_ForeignCurrencyRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Currency Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_ForeignCurrencyRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_ForeignCurrencyRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_ForeignCurrencyRiskMember" xlink:to="lab_ck0001572661_ForeignCurrencyRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_DistressedInvestmentsRiskMember_label_en-US" xlink:label="lab_ck0001572661_DistressedInvestmentsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distressed Investments Risk Member</link:label>
    <link:label id="lab_ck0001572661_DistressedInvestmentsRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_DistressedInvestmentsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distressed Investments Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_DistressedInvestmentsRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_DistressedInvestmentsRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_DistressedInvestmentsRiskMember" xlink:to="lab_ck0001572661_DistressedInvestmentsRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_C000276896Member_label_en-US" xlink:label="lab_ck0001572661_C000276896Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Principal Finisterre Emerging Markets Diversified Income ETF Class</link:label>
    <link:label id="lab_ck0001572661_C000276896Member_documentation_en-US" xlink:label="lab_ck0001572661_C000276896Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Principal Finisterre Emerging Markets Diversified Income ETF Class, C000276896</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_C000276896Member" xlink:href="ck0001572661-20260630.xsd#ck0001572661_C000276896Member"/>
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    <link:label id="lab_ck0001572661_ActiveManagementRiskMember_label_en-US" xlink:label="lab_ck0001572661_ActiveManagementRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Active Management Risk Member</link:label>
    <link:label id="lab_ck0001572661_ActiveManagementRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_ActiveManagementRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Active Management Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_ActiveManagementRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_ActiveManagementRiskMember"/>
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    <link:label id="lab_ck0001572661_U.S.GovernmentSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_U.S.GovernmentSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">U.S. Government Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_U.S.GovernmentSecuritiesRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_U.S.GovernmentSecuritiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_U.S.GovernmentSecuritiesRiskMember" xlink:to="lab_ck0001572661_U.S.GovernmentSecuritiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_LeverageRiskMember_label_en-US" xlink:label="lab_ck0001572661_LeverageRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leverage Risk Member</link:label>
    <link:label id="lab_ck0001572661_LeverageRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_LeverageRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Leverage Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_LeverageRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_LeverageRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_LeverageRiskMember" xlink:to="lab_ck0001572661_LeverageRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_HighYieldSecuritiesRiskMember_label_en-US" xlink:label="lab_ck0001572661_HighYieldSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">High Yield Securities Risk Member</link:label>
    <link:label id="lab_ck0001572661_HighYieldSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_HighYieldSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">High Yield Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_HighYieldSecuritiesRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_HighYieldSecuritiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_HighYieldSecuritiesRiskMember" xlink:to="lab_ck0001572661_HighYieldSecuritiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_S000106066Member_label_en-US" xlink:label="lab_ck0001572661_S000106066Member" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Principal Finisterre Emerging Markets Diversified Income ETF</link:label>
    <link:label id="lab_ck0001572661_S000106066Member_documentation_en-US" xlink:label="lab_ck0001572661_S000106066Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Principal Finisterre Emerging Markets Diversified Income ETF, S000106066</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_S000106066Member" xlink:href="ck0001572661-20260630.xsd#ck0001572661_S000106066Member"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_S000106066Member" xlink:to="lab_ck0001572661_S000106066Member" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_DividendOrientedStocksRiskMember_label_en-US" xlink:label="lab_ck0001572661_DividendOrientedStocksRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend-Oriented Stocks Risk Member</link:label>
    <link:label id="lab_ck0001572661_DividendOrientedStocksRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_DividendOrientedStocksRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend-Oriented Stocks Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_DividendOrientedStocksRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_DividendOrientedStocksRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_DividendOrientedStocksRiskMember" xlink:to="lab_ck0001572661_DividendOrientedStocksRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_ForeignSecuritiesRiskMember_label_en-US" xlink:label="lab_ck0001572661_ForeignSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Securities Risk Member</link:label>
    <link:label id="lab_ck0001572661_ForeignSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_ForeignSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_ForeignSecuritiesRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_ForeignSecuritiesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_ForeignSecuritiesRiskMember" xlink:to="lab_ck0001572661_ForeignSecuritiesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_EquitySecuritiesRiskValueStyleRiskMember_label_en-US" xlink:label="lab_ck0001572661_EquitySecuritiesRiskValueStyleRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Securities Risk, Value Style Risk Member</link:label>
    <link:label id="lab_ck0001572661_EquitySecuritiesRiskValueStyleRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_EquitySecuritiesRiskValueStyleRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity Securities Risk, Value Style Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_EquitySecuritiesRiskValueStyleRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_EquitySecuritiesRiskValueStyleRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_EquitySecuritiesRiskValueStyleRiskMember" xlink:to="lab_ck0001572661_EquitySecuritiesRiskValueStyleRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_DerivativesRiskMember_label_en-US" xlink:label="lab_ck0001572661_DerivativesRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives Risk Member</link:label>
    <link:label id="lab_ck0001572661_DerivativesRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_DerivativesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivatives Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_DerivativesRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_DerivativesRiskMember"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_ck0001572661_DerivativesRiskMember" xlink:to="lab_ck0001572661_DerivativesRiskMember" xlink:type="arc" order="1"/>
    <link:label id="lab_ck0001572661_PortfolioDurationRiskMember_label_en-US" xlink:label="lab_ck0001572661_PortfolioDurationRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Portfolio Duration Risk Member</link:label>
    <link:label id="lab_ck0001572661_PortfolioDurationRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_PortfolioDurationRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Portfolio Duration Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_PortfolioDurationRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_PortfolioDurationRiskMember"/>
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    <link:label id="lab_ck0001572661_FlexOptionsRiskMember_label_en-US" xlink:label="lab_ck0001572661_FlexOptionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Flex Options Risk Member</link:label>
    <link:label id="lab_ck0001572661_FlexOptionsRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_FlexOptionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Flex Options Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_FlexOptionsRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_FlexOptionsRiskMember"/>
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    <link:label id="lab_ck0001572661_DerivativesRiskForwardContractsAndFuturesMember_documentation_en-US" xlink:label="lab_ck0001572661_DerivativesRiskForwardContractsAndFuturesMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Forward Contracts And Futures Member</link:label>
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    <link:label id="lab_ck0001572661_C000276895Member_documentation_en-US" xlink:label="lab_ck0001572661_C000276895Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Principal Equity Premium Income ETF Class, C000276895</link:label>
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    <link:label id="lab_ck0001572661_DerivativesRiskOptionsRiskMember_label_en-US" xlink:label="lab_ck0001572661_DerivativesRiskOptionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Options Risk Member</link:label>
    <link:label id="lab_ck0001572661_DerivativesRiskOptionsRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_DerivativesRiskOptionsRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivatives Risk, Options Risk Member</link:label>
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    <link:label id="lab_ck0001572661_MarketTradingRisksMember_label_en-US" xlink:label="lab_ck0001572661_MarketTradingRisksMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Trading Risks Member</link:label>
    <link:label id="lab_ck0001572661_MarketTradingRisksMember_documentation_en-US" xlink:label="lab_ck0001572661_MarketTradingRisksMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Market Trading Risks Member</link:label>
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    <link:label id="lab_ck0001572661_FloatingAndVariableRateSecuritiesRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_FloatingAndVariableRateSecuritiesRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Floating And Variable Rate Securities Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_FloatingAndVariableRateSecuritiesRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_FloatingAndVariableRateSecuritiesRiskMember"/>
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    <link:label id="lab_ck0001572661_CounterpartyRiskMember_label_en-US" xlink:label="lab_ck0001572661_CounterpartyRiskMember" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Counterparty Risk Member</link:label>
    <link:label id="lab_ck0001572661_CounterpartyRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_CounterpartyRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Counterparty Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_CounterpartyRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_CounterpartyRiskMember"/>
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    <link:label id="lab_ck0001572661_HedgingRiskMember_documentation_en-US" xlink:label="lab_ck0001572661_HedgingRiskMember" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hedging Risk Member</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_HedgingRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_HedgingRiskMember"/>
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    <link:label id="lab_ck0001572661_S000106065Member_documentation_en-US" xlink:label="lab_ck0001572661_S000106065Member" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Principal Equity Premium Income ETF, S000106065</link:label>
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    <link:loc xlink:type="locator" xlink:label="loc_ck0001572661_SovereignDebtRiskMember" xlink:href="ck0001572661-20260630.xsd#ck0001572661_SovereignDebtRiskMember"/>
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