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PFXF
VanEck 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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