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PFXF
VanEck 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

  • ETF Structure

    Physical

  • Administrator

    Van Eck Associates

  • Custodian

    State Street Bank and Trust Company

  • Index Ticker

    PFAN

  • Index Rebalancing

    Monthly

 
as of 09/24/21

  • 30-Day SEC Yield1

    4.92%

  • Total Net Assets

    $1.0B

  • Number of Holdings

    126

  • Options

    Expected

  • Gross Expense Ratio2

    0.40%

  • Net Expense Ratio/TER2

    0.40%

  • Distribution Frequency

    Monthly
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How to Buy

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

Top 10 Constituents (%) as of 08/31/21

Total Constituents: 128
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full data
Constituent Name
Coupon
Maturity Weighting (%)
Broadcom Inc
8.000
09/30/2022
6.82
Arcelormittal Sa
5.500
05/18/2023
3.42
Nextera Energy Inc
5.279
03/01/2023
2.90
Avantor Inc
6.250
05/15/2022
2.72
Nextera Energy Inc
6.219
09/01/2023
2.34
Aptiv Plc
5.500
06/15/2023
2.14
Nextera Energy Inc
4.872
09/01/2022
2.01
At&T Inc
4.750
Perpetual
1.99
Southern Co
6.750
08/01/2022
1.99
Becton Dickinson And Co
6.000
06/01/2023
1.77
Top 10 Total (%) 28.10
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 08/31/21

  • Country

    % of Net Assets
  • ■

    United States

    89.65
  • ■

    Canada

    4.67
  • ■

    Luxembourg

    3.42
  • ■

    United Kingdom

    1.50

Index Sector Weightings (%) as of 08/31/21

  • Sector

    % of Net Assets
  • ■

    Utilities

    31.1
  • ■

    Real Estate

    10.4
  • ■

    Telecommunication Services

    10.3
  • ■

    Semiconductors & Semiconductor Equipment

    6.8
  • ■

    Diversified Financials

    6.2
  • ■

    Materials

    4.3
  • ■

    Automobiles & Components

    4.0
  • ■

    Energy

    3.8
  • ■

    Pharmaceuticals, Biotechnology

    3.3
  • ■

    OTHERS

    19.2

Index Credit Quality (%) as of 08/31/21

Composite % of Net Assets
Investment Grade A 1.99
BBB 31.21
Non-Investment Grade BB 21.36
B 3.22
Total Investment Grade -- 33.20
Total Non-Investment Grade -- 24.58
Not Rated -- 42.22
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 08/31/21

 Average Maturity: -- Years