PFXFVanEck Preferred Securities ex Financials ETF
Index Key Points
Underlying Index: ICE Exchange-Listed Fixed & Adjustable Rate Non-Financial Preferred Securities Index (PFAN)
The Index Composition: PFAN is a rules-based index designed to track the performance of exchange-listed U.S. dollar denominated hybrid debt, preferred stock and convertible preferred stock publicly issued by non-financial corporations in the U.S. domestic market. It includes both rated and unrated securities, and securities with either a fixed or floating rate coupon or dividend.
Security Eligibility Requirements:
- Must be U.S. dollar denominated.
- Must be exchange listed and have either the NASDAQ or NYSE® as their primary exchange.
- Must have at least $250 million face amount outstanding and at least one day remaining to maturity.
- Must have 250,000 average monthly trading volume over the previous six-month period.
Index Provider: ICE Data Indices, LLC
Index Profile
-
Ticker
PFAN -
Inception Date
02/23/2021 -
Rebalance Frequency
Monthly
Index Top 10 Constituents (%) as of 12/31/22
Total Constituents: 121
| Constituent Name |
Coupon
|
Maturity | Weightings (%) |
|---|---|---|---|
| Nextera Energy Inc |
5.279 |
03/01/2023 | 4.39 |
| Pg&E Corp |
5.500 |
08/16/2023 | 4.00 |
| Nextera Energy Inc |
0.000 |
09/01/2025 | 3.48 |
| Nextera Energy Inc |
6.219 |
09/01/2023 | 3.48 |
| Arcelormittal Sa |
5.500 |
05/18/2023 | 2.61 |
| Becton Dickinson And Co |
6.000 |
06/01/2023 | 2.61 |
| Aptiv Plc |
5.500 |
06/15/2023 | 2.14 |
| At&T Inc |
4.750 |
Perpetual | 2.11 |
| Boston Scientific Corp |
5.500 |
06/01/2023 | 2.00 |
| At&T Inc |
5.350 |
11/01/2066 | 1.98 |
| Top 10 Total (%) | 28.81 | ||
These are not recommendations to buy or to sell any security. Securities and holdings may vary.
Index Country Weightings (%)
as of 12/31/22
| Country | % of Net Assets |
|---|---|
| ● United States | 88.20 |
| ● Canada | 5.11 |
| ● Jersey | 3.09 |
| ● Luxembourg | 2.61 |
| ● Bermuda | 0.99 |
Index Sector Weightings (%)
as of 12/31/22
| Sector | % of Net Assets |
|---|---|
| ● Utilities | 33.9 |
| ● Telecommunication Services | 11.4 |
| ● Real Estate | 9.9 |
| ● Diversified Financials | 9.1 |
| ● Automobiles & Components | 5.4 |
| ● Energy | 5.4 |
| ● Health Care Equipment & Services | 4.6 |
| ● Food, Beverage & Tobacco | 4.0 |
| ● Commercial & Professional Services | 2.7 |
| ● Materials | 2.6 |
| ● Capital Goods | 2.4 |
| ● Retailing | 0.8 |
| ● Software & Services | 0.5 |
| ● Media & Entertainment | 0.4 |
| ● Pharmaceuticals, Biotechnology | 0.4 |
| ● Others | 6.4 |
Index Credit Quality (%)† as of 12/31/22
| Composite | % of Net Assets | |
|---|---|---|
| Investment Grade | AA | 0.39 |
| A | 2.56 | |
| BBB | 28.93 | |
| Non-Investment Grade | BB | 24.09 |
| B | 3.80 | |
| Total Investment Grade | -- | 31.89 |
| Total Non-Investment Grade | -- | 27.89 |
| Not Rated | -- | 40.23 |
Maturity (%)
as of 12/31/22
Average Maturity: -- Years
Maturity (%)
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