• Ticker:- PFXF;true;WHPSL;
  • Ticker Group:- ETFFI_EI;false;;
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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 Provider: Wells Fargo Securities, LLC

    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
    • Commencement

      07/16/2012
    • ETF Structure

      Physical
    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

      WHPSL
    • Index Rebalancing

      Monthly
  •  
    as of 08/19/14

    • 30-Day SEC Yield1

      6.05%
    • Total Net Assets

      $172.4M
    • Number of Holdings

      90
    • Options

      Expected
    • Gross Expense Ratio2

      0.51%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      08/29/2014
  • 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 08/19/14

    • 30-Day SEC Yield1

      6.05%
    • Distribution Yield1

      3.25%
    • 12-Month Yield1

      6.02%
     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/TER2

      0.40%
    2Expenses for PFXF are capped contractually at 0.40% until 09/01/14. Cap excludes certain expenses, such as interest. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio". 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

      8,350,000
    • Estimated Cash

      PFXFEU
    • Total Cash

      PFXFTC
    • CUSIP

      57061R791
    • ISIN

      US57061R7917
    5See IIV Details. Source: Bloomberg
  • Fundamentals
    as of 08/18/14

    • 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 08/19/2014

    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 $20.65
    $20.69
    38,138
    0
    $0.02 / +0.09%
    $0.00 / +0.00%
    + 12.0%
    + 12.6%

    $0.04
    0.19%
  • 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) -0.78 -0.08 11.94 9.63 -- -- -- 6.80
    PFXF (Share Price) -1.02 -0.08 12.58 10.19 -- -- -- 6.90
    WHPSL (Index) -0.75 -0.01 11.29 9.58 -- -- -- 6.90
    Performance Differential (NAV - Index) -0.03 -0.07 0.65 0.05 -- -- -- -0.10
    After Tax Held -- -- -- 6.65 -- -- -- 4.22
    After Tax Sold -- -- -- 5.35 -- -- -- 4.02
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/16/12
    PFXF (NAV) 0.09 3.33 12.82 10.77 -- -- -- 7.53
    PFXF (Share Price) 0.77 3.27 13.73 11.43 -- -- -- 7.77
    WHPSL (Index) 0.10 3.37 12.13 10.65 -- -- -- 7.63
    Performance Differential (NAV - Index) -0.01 -0.04 0.69 0.12 -- -- -- -0.10
    After Tax Held -- -- -- 7.79 -- -- -- 5.02
    After Tax Sold -- -- -- 5.95 -- -- -- 4.60
  • View All Holdings »Top 10 Holdings (%)as of 07/31/14

    Total Holdings: 90
    Holding Name
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Arcelormittal
    01/15/2016
    NR
    Luxembourg
    USD
    5.48
    United Technologies Corp
    08/01/2015
    BBB+
    U.S.
    USD
    3.52
    American Realty Capital Properties Inc
    Perpetual
    NR
    U.S.
    USD
    2.67
    Health Care Reit Inc
    Perpetual
    BB+
    U.S.
    USD
    2.21
    Nextera Energy Inc
    09/01/2015
    NR
    U.S.
    USD
    2.08
    Weyerhaeuser Co
    07/01/2016
    NR
    U.S.
    USD
    1.98
    Stanley Black & Decker Inc
    07/25/2052
    BBB
    U.S.
    USD
    1.96
    Qwest Corp
    06/01/2053
    BBB-
    U.S.
    USD
    1.93
    Dominion Resources Inc/Va
    06/15/2064
    BBB-
    U.S.
    USD
    1.87
    Qwest Corp
    06/01/2051
    BBB-
    U.S.
    USD
    1.84
    Top 10 Total (%)25.54

    †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 07/31/14

    • Country

      % of Net Assets
    • U.S.

      88.8
    • LUXEMBOURG

      5.5
    • BERMUDA

      4.2
    • MARSHALL ISLANDS

      1.9
    • Other

      -0.4
  • Currency Exposure (%)
    as of 07/31/14

    • U.S. Dollar

      100.38
    • Other

      -0.38
    • Total

      100.00
  • Industry Weightings (%)
    as of 07/31/14

    • Sector

      % of Net Assets
    • REITS

      38.1
    • Electric

      23.7
    • Telecommunications

      11.0
    • Iron/Steel

      6.8
    • Insurance

      5.3
    • Aerospace/Defense

      3.5
    • Agriculture

      3.1
    • Hand/Machine Tools

      2.0
    • Transportation

      1.9
    • Sovereign

      1.5
    • Office/Business Equip

      1.2
    • Pipelines

      1.1
    • Media

      0.8
    • Healthcare-Services

      0.4
    • Other

      -0.4
  • Credit Quality (%)
    as of 07/31/14

    Composite % of Net Assets
    Investment Grade AA 1.52
    A 4.05
    BBB 48.69
    Non-Investment Grade BB 11.75
    B 2.55
    CCC 0.86
    Total Investment Grade 54.26
    Total Non-Investment Grade 15.16
    Not rated 30.58
    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 07/31/14