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Preferred Securities ex Financials ETF PFXF

  • Full Name: Market Vectors®
    Preferred Securities ex Financials ETF (PFXF)

    Management Style: Replication

    Underlying Index: The Wells Fargo® Hybrid and Preferred Securities ex Financials Index (WHPSL)

    Index Description: WHPSL is a rules-based index intended to track the overall performance of publicly traded non-financial preferred securities including those that, in Wells Fargo Securities, LLC’s judgment, are functionally equivalent to preferred securities such as convertible securities, depository preferred securities and perpetual subordinated debt.

  •  
     

    • Fund Ticker

      PFXF
    • Exchange

      NYSE Arca
    • Index Total Return Ticker

      WHPSL
    • Index Provider

      Wells Fargo Securities, LLC
    • Total Net Assets

      $158.4M
    • Shares Outstanding

      7,800,000
    • Number of Holdings

      85
    • Commencement Date

      07/16/2012
  •  
    as of 04/15/14

  • Key Points

    • High Income Potential
      Historically, a company’s preferred securities have offered higher yield than its common stock and senior debt

    • Historically Lower Volatility
      Index excludes traditional financial companies which have been more volatile than other sectors in recent years

    • Lowest Expense Ratio in Class
      PFXF currently has the lowest published net expense ratio of U.S.-listed ETFs that invest primarily in preferred securities (based on 8 ETFs as of 03/31/13).
  • Yields
    as of 04/15/14

    • 30-Day SEC Yield1

      6.14%
    • Distribution Yield1

      9.25%
    • 12-Month Yield1

      6.11%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      0.11%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.51%
    • Fee Waivers and
      Expense Reimbursement

      (0.11)%
    • Net Expense Ratio

      0.40%
    2Expenses for PFXF are capped contractually at 0.40% until 09/01/14. Cap excludes certain expenses, such as interest. See Important Disclosure for more information.
  • Trading Information

    • Fund Ticker

      PFXF
    • Index Total Return Ticker

      WHPSL
    • NAV

      PFXFNV
    • Intraday NAV (IIV)5

      PFXFIV
    • Shares Outstanding

      7,800,000
    • Estimated Cash

      PFXFEU
    • Total Cash

      PFXFTC
    • CUSIP

      57061R791
    • ISIN

      US57061R7917
    5See IIV Details. Source: Bloomberg
  • Fundamentals
    as of 04/14/14

    • Yield to Worst1

      --
    • Yield to Maturity1

      --
    • Effective Duration (yrs)4

      --
    • Modified Duration (yrs)4

      --
    • Duration to Worst4

      --
    • Spread Duration (yrs)4

      --
    • Years to Maturity (yrs)4

      --
    • Coupon4

      --
     4 See Important Disclosure for definitions.
  • Prices as of 04/15/14

    TickerNAV/
    Last Price
    Volume
    30-Day Avg./
    Last Trading Day
    Daily Change
    NAV/
    Last Price
    YTD Change
    NAV/
    Last Price
    Premium/
    Discount
    Prem/Discount
    Distribution Charts
    NAV &
    Prem/Discount
    History
    NAV
    Chart
    PFXF $20.31
    $20.34
    91,040
    21,568
    $0.04 / +0.2%
    $0.00 / +0.0%
    + 7.4%
    + 7.9%

    $0.03
    0.14%
  • View All Indices » View All ETFs » Performance History: Average Annual Total Returns* (%)

    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/16/12
    PFXF (NAV) 2.37 9.18 9.18 6.01 -- -- -- 6.61
    PFXF (Share Price) 2.56 10.13 10.13 6.02 -- -- -- 6.92
    WHPSL (Index) 2.44 8.47 8.47 5.94 -- -- -- 6.69
    Performance Differential (NAV - Index) -0.07 0.71 0.71 0.07 -- -- -- -0.08
    After Tax Held -- -- -- 3.14 -- -- -- 4.14
    After Tax Sold -- -- -- 3.29 -- -- -- 3.93
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/16/12
    PFXF (NAV) 2.37 9.18 9.18 6.01 -- -- -- 6.61
    PFXF (Share Price) 2.56 10.13 10.13 6.02 -- -- -- 6.92
    WHPSL (Index) 2.44 8.47 8.47 5.94 -- -- -- 6.69
    Performance Differential (NAV - Index) -0.07 0.71 0.71 0.07 -- -- -- -0.08
    After Tax Held -- -- -- 3.14 -- -- -- 4.14
    After Tax Sold -- -- -- 3.29 -- -- -- 3.93
  • View All Holdings » Top 10 Holdings (%) as of 03/31/14

    Total Holdings: 85
    Holding Name
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Arcelormittal
    01/15/2016
    NR
    Luxembourg
    USD
    5.85
    United Technologies Corp
    08/01/2015
    BBB+
    U.S.
    USD
    3.91
    Ppl Corp
    05/01/2014
    NR
    U.S.
    USD
    2.86
    American Realty Capital Properties Inc
    Perpetual
    NR
    U.S.
    USD
    2.63
    Health Care Reit Inc
    Perpetual
    BB+
    U.S.
    USD
    2.16
    Nextera Energy Inc
    09/01/2015
    NR
    U.S.
    USD
    2.13
    Weyerhaeuser Co
    07/01/2016
    NR
    U.S.
    USD
    2.04
    Stanley Black & Decker Inc
    07/25/2052
    BBB
    U.S.
    USD
    1.92
    Dominion Resources Inc/Va
    06/15/2064
    BBB-
    U.S.
    USD
    1.87
    Qwest Corp
    06/01/2051
    BBB-
    U.S.
    USD
    1.85
    Top 10 Total (%) 27.22

    †See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary. Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Country Weightings (%)
    as of 03/31/14

    • Country

      % of Net Assets
    • U.S.

      87.1
    • LUXEMBOURG

      5.9
    • BERMUDA

      4.1
    • MARSHALL ISLANDS

      1.0
    • Other

      1.9
    • Total

      100.0
  • Currency Exposure (%)
    as of 03/31/14

    • U.S. Dollar

      98.08
    • Other

      1.92
    • Total

      100.00
  • Industry Weightings (%)
    as of 03/31/14

    • Sector

      % of Net Assets
    • REITS

      35.9
    • Electric

      24.9
    • Telecommunications

      10.9
    • Iron/Steel

      7.5
    • Insurance

      5.2
    • Aerospace/Defense

      3.9
    • Hand/Machine Tools

      1.9
    • Agriculture

      1.9
    • Sovereign

      1.5
    • Pipelines

      1.2
    • Office/Business Equip

      1.2
    • Transportation

      1.0
    • Media

      0.7
    • Healthcare-Services

      0.4
    • Auto Parts&Equipment

      0.0
    • Other

      1.9
    • Total

      100.0
  • Credit Quality (%)
    as of 03/31/14

    Composite % of Net Assets
    Investment Grade AA 1.49
    A 2.48
    BBB 46.98
    Non-Investment Grade BB 12.17
    B 2.59
    CCC 0.86
    Total Investment Grade 50.95
    Total Non-Investment Grade 15.61
    Not rated 33.44
    Composite Rating: An evenly weighted blend of a security's Moody's, S&P, Fitch and DBRS ratings. Not Rated indicates that a security is rated by fewer than two of the four rating agencies. This composite is not intended to be a credit opinion.
  • Maturity (%) as of 03/31/14