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PFXF
VanEck Vectors Preferred Securities ex Financials ETF

Fund Description

The VanEck Vectors® Preferred Securities ex Financials ETF (PFXF®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Wells Fargo® Hybrid and Preferred Securities ex Financials Index. The Index is intended to track the overall performance of U.S.-listed preferred securities excluding those with a financial sector classification, including securities that, in Wells Fargo Securities LLC's judgment, are functionally equivalent to preferred securities such as convertible securities, depository preferred securities and perpetual subordinated debt.

 
 

  • Fund Ticker

    PFXF
  • Exchange

    NYSE Arca
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    WHPSL
  • Index Rebalancing

    Monthly

 
as of 07/02/20

  • 30-Day SEC Yield1

    6.09%
  • Total Net Assets

    $687.1M
  • Number of Holdings

    139
  • Options

    Expected
  • Gross Expense Ratio2

    0.46%
  • Net Expense Ratio/TER2

    0.41%
  • Distribution Frequency

    Monthly

Morningstar™ Ratings3
as of 05/31/2020

Category Overall 3 Year 5 Year
Preferred Stock
2 stars of 56 funds
3 stars of 56 funds
2 stars of 46 funds

Key Points

  • High Income Potential
    Historically, a company's preferred securities have offered higher yield than its common stock and senior debt

  • Differentiated Exposure
    Index excludes traditional financial companies, which dominate broad-based indices, resulting in greater diversification without sacrificing yield

  • Low Expense Ratio
    PFXF’s net expense ratio is 60% less than the mutual fund and ETF category average*

Yield
as of 07/02/20

  • 30-Day SEC Yield1

    6.09%
  • Distribution Yield1

    6.24%
  • 12-Month Yield1

    5.81%
 1See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    0.06%
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.46%
  • Fee Waivers and
    Expense Reimbursement

    -0.05%
  • Net Expense Ratio/TER2

    0.41%
2Expenses for PFXF are capped contractually at 0.40% until September 1, 2020. Cap excludes acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    PFXF
  • Index Total Return Ticker

    WHPSL
  • NAV

    PFXFNV
  • Intraday NAV (IIV)5

    PFXFIV
  • Shares Outstanding

    37,550,000
  • Estimated Cash

    PFXFEU
  • Total Cash

    PFXFTC
  • CUSIP

    92189F429
  • ISIN

    US92189F4292
5See IIV Details. Source: Bloomberg

Prices as of 07/02/20

NAV/
Market Price
Volume
30-Day Avg./
Last Trading Day
Daily Change
NAV/
Last Price
YTD Change
NAV/
Last Price
Premium/
Discount
Prem/Discount
Distribution Charts
NAV &
Prem/Discount
History
30-Day
Median
Bid Ask
Spread
NAV
Chart
PFXF $18.30
$18.31
144,952
150,132
$0.08 / +0.45%
$0.09 / +0.49%
-6.60%
-6.76%
$0.01
0.06%
0.16%

Premium/Discount History as of 07/02/20

Calendar Year 2019 2Q 2019 3Q 2019 4Q 2019 1Q 2020 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 196 51 51 57 41
PFXF Days closed at NAV 19 3 6 3 6
Days closed at a discount 37 9 7 4 15

Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
07/16/12
PFXF (NAV) 2.31 -1.75 -5.25 1.49 3.36 3.71 -- 4.91
PFXF (Share Price) 1.92 -2.49 -6.00 0.85 2.99 3.50 -- 4.85
WHPSL (Index) 2.35 -1.70 -5.87 1.87 3.55 3.71 -- 4.94
Performance Differential (NAV - Index) -0.04 -0.05 0.62 -0.38 -0.19 0.00 -- -0.03
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
07/16/12
PFXF (NAV) -14.85 -17.88 -17.88 -11.45 -1.19 1.05 -- 3.09
PFXF (Share Price) -14.08 -17.18 -17.18 -10.26 -0.75 1.20 -- 3.25
WHPSL (Index) -14.80 -18.41 -18.41 -11.03 -1.05 1.06 -- 3.12
Performance Differential (NAV - Index) -0.05 0.53 0.53 -0.42 -0.14 -0.01 -- -0.03

Top 10 Holdings (%) as of 05/31/20 Daily Holdings

Total Holdings: 133
Swipe
to view
full data
Holding Name Maturity
Composite
Rating
Country
Currency
% of Net
Assets
NEXTERA ENERGY INC
03/01/2023
NR
United States
USD
3.29
SEMPRA ENERGY
01/15/2021
NA
United States
USD
2.68
DOMINION ENERGY INC
06/01/2022
NR
United States
USD
2.50
AT&T INC
Perpetual
BB+
United States
USD
2.46
SOUTHERN CO/THE
08/01/2022
BBB-
United States
USD
2.45
NEXTERA ENERGY INC
09/01/2022
BBB+
United States
USD
2.25
AT&T INC
11/01/2066
BBB
United States
USD
2.06
AVANTOR INC
05/15/2022
NA
United States
USD
1.97
AT&T INC
Perpetual
BB+
United States
USD
1.83
DUKE ENERGY CORP
Perpetual
BBB-
United States
USD
1.64
Top 10 Total (%) 23.13

These are not recommendations to buy or to sell any security. Securities and holdings may vary.

†See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Source: Bloomberg.  Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Country Weightings (%) as of 05/31/20

  • Country

    % of Net Assets
  • United States

    93.35
  • Bermuda

    3.17
  • Canada

    3.04
  • Other/Cash

    0.43

Currency Exposure (%)
as of 05/31/20

  • U.S. Dollar

    99.57
  • Other/Cash

    0.43

Sector Weightings (%) as of 05/31/20

  • Sector

    % of Net Assets
  • Electric

    40.7
  • REITS

    21.0
  • Telecommunications

    14.2
  • Pipelines

    5.2
  • Insurance

    4.3
  • Agriculture

    3.6
  • Healthcare-Products

    2.0
  • Auto Manufacturers

    1.9
  • Gas

    1.2
  • Chemicals

    1.2
  • Internet

    1.2
  • Environmental Control

    1.2
  • Retail

    0.6
  • Pharmaceuticals

    0.6
  • Office/Business Equip

    0.4
  • Sovereign

    0.4
  • Other/Cash

    0.4

Credit Quality (%) as of 05/31/20

Composite % of Net Assets
Investment Grade AA 0.41
A 1.45
BBB 37.84
Non-Investment Grade BB 26.89
B 0.93
Total Investment Grade -- 39.70
Total Non-Investment Grade -- 27.82
Not Rated -- 32.04
Source: Bloomberg.  Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 05/31/20