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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 10/15/21

  • 30-Day SEC Yield1

    5.00%
  • Total Net Assets

    $1.1B
  • Number of Holdings

    126
  • Options

    Expected
  • Gross Expense Ratio2

    0.40%
  • Net Expense Ratio/TER2

    0.40%
  • Distribution Frequency

    Monthly

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 09/30/21

Total Constituents: 128
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full data
Constituent Name
Coupon
Maturity Weighting (%)
Broadcom Inc
8.000
09/30/2022
6.80
Arcelormittal Sa
5.500
05/18/2023
3.18
Avantor Inc
6.250
05/15/2022
2.88
Nextera Energy Inc
5.279
03/01/2023
2.84
Nextera Energy Inc
6.219
09/01/2023
2.28
Aptiv Plc
5.500
06/15/2023
2.15
At&T Inc
4.750
Perpetual
2.05
Southern Co
6.750
08/01/2022
1.96
Nextera Energy Inc
4.872
09/01/2022
1.95
Becton Dickinson And Co
6.000
06/01/2023
1.79
Top 10 Total (%) 27.88
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 09/30/21

  • Country

    % of Net Assets
  • United States

    90.64
  • Canada

    4.79
  • Luxembourg

    3.18
  • United Kingdom

    1.39

Index Sector Weightings (%) as of 09/30/21

  • Sector

    % of Net Assets
  • Utilities

    31.1
  • Telecommunication Services

    10.9
  • Real Estate

    10.1
  • Diversified Financials

    7.0
  • Semiconductors & Semiconductor Equipment

    6.8
  • Automobiles & Components

    4.0
  • Energy

    3.9
  • Pharmaceuticals, Biotechnology

    3.5
  • Commercial & Professional Services

    3.2
  • OTHERS

    19.4

Index Credit Quality (%) as of 09/30/21

Composite % of Net Assets
Investment Grade AA 0.34
A 1.05
BBB 20.82
Non-Investment Grade BB 19.25
B 3.20
Total Investment Grade -- 22.21
Total Non-Investment Grade -- 22.45
Not Rated -- 55.35
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 09/30/21

 Average Maturity: -- Years