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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
  • Commencement

    07/16/2012
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    Bank of New York Mellon
  • Index Ticker

    WHPSL
  • Index Rebalancing

    Monthly

 
as of 05/24/19

  • 30-Day SEC Yield1

    5.77%
  • Total Net Assets

    $592.5M
  • Number of Holdings

    113
  • Options

    Expected
  • Gross Expense Ratio2

    0.45%
  • Net Expense Ratio/TER2

    0.41%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    05/31/2019

Morningstar™ Ratings3
as of 04/30/19

Category Overall 3 Year 5 Year
Preferred Stock
3 stars of 51 funds
2 stars of 51 funds
3 stars of 40 funds

Key Points

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

  • Historically Lower Volatility
    Index excludes traditional financial companies which have been more volatile than other sectors in recent years

  • Low Expense Ratio in Class
    PFXF currently has one of the lowest published net expense ratios of U.S.-listed ETFs that invest primarily in preferred securities (based on 15 ETFs as of 9/4/2018).

Yield
as of 05/24/19

  • 30-Day SEC Yield1

    5.77%
  • Distribution Yield1

    3.48%
  • 12-Month Yield1

    5.58%
 1 See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    0.05%
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.45%
  • Fee Waivers and
    Expense Reimbursement

    -0.04%
  • Net Expense Ratio/TER2

    0.41%
2Expenses for PFXF are capped contractually at 0.40% until September 1, 2019. 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

    30,400,000
  • Estimated Cash

    PFXFEU
  • Total Cash

    PFXFTC
  • CUSIP

    92189F429
  • ISIN

    US92189F4292
5See IIV Details. Source: Bloomberg

Prices as of 05/24/19

NAV/
Last 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
NAV
Chart
PFXF $19.49
$19.52
148,352
67,891
$0.03 / +0.15%
$0.03 / +0.15%
+12.46%
+12.52%
$0.03
0.15%

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) 0.41 3.60 11.89 7.90 4.41 4.61 -- 5.45
PFXF (Share Price) 0.52 3.17 11.71 7.56 4.31 4.55 -- 5.44
WHPSL (Index) 0.50 3.75 11.25 8.25 4.26 4.55 -- 5.43
Performance Differential (NAV - Index) -0.09 -0.15 0.64 -0.35 0.15 0.06 -- 0.02
After Tax Held 0.10 2.95 10.88 5.23 1.93 2.19 -- 3.06
After Tax Sold 0.25 2.13 7.02 4.60 2.30 2.48 -- 3.18
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
07/16/12
PFXF (NAV) 1.44 11.43 11.43 7.36 4.89 5.06 -- 5.45
PFXF (Share Price) 1.13 11.13 11.13 7.19 4.70 4.92 -- 5.43
WHPSL (Index) 1.46 10.69 10.69 7.61 4.70 4.99 -- 5.42
Performance Differential (NAV - Index) -0.02 0.74 0.74 -0.25 0.19 0.07 -- 0.03
After Tax Held 1.28 10.77 10.77 4.78 2.43 2.63 -- 3.08
After Tax Sold 0.85 6.75 6.75 4.28 2.68 2.83 -- 3.19

Top 10 Holdings (%) as of 04/30/19 Daily Holdings

Total Holdings: 113
Swipe
to view
full data
Holding Name Maturity
Composite
Rating
Country
Currency
% of Net
Assets
Becton Dickinson And Co
05/01/2020
NR
U.S.
USD
5.31
Nextera Energy Inc
09/01/2019
NR
U.S.
USD
3.37
Sempra Energy
01/15/2021
NA
U.S.
USD
3.32
Dominion Energy Inc
08/15/2019
BBB-
U.S.
USD
2.54
At&T Inc
11/01/2066
BBB
U.S.
USD
2.45
Vereit Inc
Perpetual
NR
U.S.
USD
1.94
Southern Co/The
10/15/2075
BBB-
U.S.
USD
1.88
Centerpoint Energy Inc
09/01/2021
NA
U.S.
USD
1.88
Duke Energy Corp
Perpetual
BBB-
U.S.
USD
1.88
Qwest Corp
09/01/2056
BB+
U.S.
USD
1.63
Top 10 Total (%) 26.20

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 04/30/19

  • Country

    % of Net Assets
  • UNITED STATES

    95.22
  • BERMUDA

    3.46
  • CANADA

    1.70
  • Other/Cash

    -0.37

Currency Exposure (%)
as of 04/30/19

  • U.S. Dollar

    100.37
  • Other/Cash

    -0.37

Sector Weightings (%) as of 04/30/19

  • Sector

    % of Net Assets
  • Electric

    34.0
  • REITS

    25.0
  • Telecommunications

    11.9
  • Healthcare-Products

    5.3
  • Insurance

    5.0
  • Agriculture

    4.4
  • Pipelines

    4.4
  • Gas

    4.3
  • Chemicals

    1.6
  • Internet

    1.4
  • Hand/Machine Tools

    1.4
  • Office/Business Equip

    0.7
  • Energy-Alternate Sources

    0.6
  • Sovereign

    0.5
  • Other/Cash

    -0.4

Credit Quality (%) as of 04/30/19

Composite % of Net Assets
Investment Grade AA 0.50
A 1.71
BBB 44.24
Non-Investment Grade BB 18.38
B 1.56
Total Investment Grade -- 46.44
Total Non-Investment Grade -- 19.94
Not Rated -- 33.99
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 04/30/19