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
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 |
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