PFXFVanEck Preferred Securities ex Financials ETF
Fund Description
The VanEck Preferred Securities ex Financials ETF (PFXF®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the ICE Exchange-Listed Fixed & Adjustable Rate Non-Financial Preferred Securities Index (PFAN), which is intended to track the overall performance of U.S. exchange-listed hybrid debt, preferred stock and convertible preferred stock issued by non-financial corporations.
-
Fund Ticker
PFXF -
Exchange
NYSE Arca -
Inception Date
07/16/2012 -
ETF Structure
Physical -
Administrator
Van Eck Associates -
Index Ticker
PFAN -
Index Rebalancing
Monthly
as of 07/01/22
-
30-Day SEC Yield1
6.07% -
Total Net Assets
$995.6M -
Number of Holdings
127 -
Options
No -
Gross Expense Ratio2
0.40% -
Net Expense Ratio/TER2
0.40% -
Distribution Frequency
Monthly -
Next Distribution Date
07/29/2022
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 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 07/01/22
-
30-Day SEC Yield1
6.07% -
Distribution Yield1
6.14% -
12-Month Yield1
6.89%
Fees and Expenses2
-
Management Fee
0.40% -
Other Expenses
-- -
Acquired Fund Fees and Expenses
-- -
Gross Expense Ratio
0.40% -
Fee Waivers and
--
Expense Reimbursement -
Net Expense Ratio/TER2
0.40%
2'Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses. Notwithstanding the foregoing, the Adviser has agreed to pay the offering costs until at least September 1, 2022.'
Trading Information
-
Fund Ticker
PFXF -
Index Total Return Ticker
PFAN -
NAV
PFXFNV -
Intraday NAV (IIV)5
PFXFIV -
Shares Outstanding
54,800,000 -
Estimated Cash
PFXFEU -
Total Cash
PFXFTC -
CUSIP
92189F429 -
ISIN
US92189F4292
Investment Professionals
Peter Liao, CFA
- Portfolio Manager and Head of Equity ETFs
- Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
- Joined VanEck in 2005
- CFA charterholder; member of the CFA Society New York
- BA, Mathematics and Economics, New York University
Guo Hua (Jason) Jin
- Portfolio Manager and Analyst for Equity ETFs
- Joined VanEck in 2007
- Prior to his current role, held a portfolio administration position at VanEck
- Previously, Portfolio Analyst at Evaluation Associates
- BS, Business Administration (concentration in Financial Analysis), State University of New York at Buffalo
Griffin Driscoll
- Analyst for Equity ETFs
- Joined VanEck in 2018
- Prior to joining VanEck, ETF Basket Operations Analyst at JPMorgan
- BS, Finance, Providence College
Ralph Lasta
- Analyst for Equity ETFs
- Joined VanEck in 2019
- Prior to VanEck, Intermediate Representative, Exchange Traded Funds at BNY Mellon.
- BS, Accounting, Hunter College
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) | 2.20 | -1.34 | -9.05 | -2.20 | 5.69 | 5.13 | -- | 5.50 |
PFXF (Share Price) | 2.25 | -1.97 | -9.35 | -2.46 | 5.54 | 4.95 | -- | 5.47 |
PFAN (Index)** | 2.25 | -1.55 | -8.91 | -1.84 | 6.04 | 5.38 | 5.71 | 5.59 |
Performance Differential (NAV - Index) | -0.05 | 0.21 | -0.14 | -0.36 | -0.35 | -0.25 | -- | -0.09 |
1 MO | 3 MO | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
LIFE 07/16/12** |
|
---|---|---|---|---|---|---|---|---|
PFXF (NAV) | 2.52 | -5.48 | -5.48 | 3.91 | 7.29 | 6.12 | -- | 6.02 |
PFXF (Share Price) | 2.42 | -5.28 | -5.28 | 3.82 | 7.45 | 6.21 | -- | 6.05 |
PFAN (Index)** | 2.44 | -5.22 | -5.22 | 4.57 | 7.72 | 6.36 | 6.01 | 6.12 |
Performance Differential (NAV - Index) | 0.08 | -0.26 | -0.26 | -0.66 | -0.43 | -0.24 | -- | -0.10 |
Top 10 Holdings (%) as of 05/31/22 Daily Holdings
to view
full data
Holding Name | Maturity |
Country‡
|
Currency
|
% of Net Assets |
---|---|---|---|---|
Broadcom Inc | 09/30/2022 |
United States |
USD |
8.70 |
Danaher Corp | 04/15/2023 |
United States |
USD |
2.93 |
Nextera Energy Inc | 03/01/2023 |
United States |
USD |
2.93 |
Nextera Energy Inc | 09/01/2023 |
United States |
USD |
2.34 |
Southern Co/The | 08/01/2022 |
United States |
USD |
2.32 |
Arcelormittal Sa | 05/18/2023 |
Luxembourg |
USD |
2.27 |
Pg&E Corp | 08/16/2023 |
United States |
USD |
2.18 |
Nextera Energy Inc | 09/01/2022 |
United States |
USD |
1.99 |
Dominion Energy Inc | 06/01/2022 |
United States |
USD |
1.95 |
Becton Dickinson And Co | 06/01/2023 |
United States |
USD |
1.85 |
Top 10 Total (%) | 29.46 |
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Country Weightings (%) as of 05/31/22
-
Country
% of Net Assets -
■
United States
86.65 -
■
Canada
4.56 -
■
United Kingdom
2.72 -
■
Luxembourg
2.27 -
■
Bermuda
1.00 -
■
Other/Cash
2.79
Currency Exposure (%)
as of 05/31/22
-
U.S. Dollar
96.52 -
Canadian Dollar
0.69 -
Other/Cash
2.79
Sector Weightings (%) as of 05/31/22
-
Sector
% of Net Assets -
■
Electric Utilities & IPPs
27.4 -
■
Residential & Commercial REITs
16.0 -
■
Telecommunications Services
10.2 -
■
Semiconductors & Semiconductor Equipmnt
8.7 -
■
Healthcare Equipment & Supplies
6.1 -
■
Multiline Utilities
5.9 -
■
Automobiles & Auto Parts
3.6 -
■
Oil & Gas Related Equipment and Srvices
3.5 -
■
Professional & Commercial Services
3.1 -
■
Food & Tobacco
3.0 -
■
Metals & Mining
2.3 -
■
Machinery; Equipment & Components
1.9 -
■
Diversified Retail
1.6 -
■
Natural Gas Utilities
0.9 -
■
Real Estate Operations
0.7 -
■
Hotels & Entertainment Services
0.6 -
■
Pharmaceuticals
0.5 -
■
Office Equipment
0.4 -
■
Software & IT Services
0.4 -
■
Consumer Goods Conglomerates
0.2 -
■
Oil & Gas
0.2 -
■
Other/Cash
2.8
Credit Quality (%)† as of 05/31/22
Composite | % of Net Assets | |
---|---|---|
Investment Grade | AA | 0.30 |
A | 2.16 | |
BBB | 32.06 | |
Non-Investment Grade | BB | 20.18 |
B | 3.30 | |
Total Investment Grade | -- | 34.52 |
Total Non-Investment Grade | -- | 23.48 |
Not Rated | -- | 42.00 |
Maturity (%) as of 05/31/22
Average Portfolio Maturity: -- Years