• Ticker:- PFXF;true;WHPSL;
  • Ticker Group:- ETFFI_EI;false;;
  • How to Purchase

Individual Investors

Subscribe to email updates

Subscribe now

Financial Professionals

Subscribe to email updates, or password protected financial professional-only content
email address/username
password

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 01/28/15

    • 30-Day SEC Yield1

      5.79%
    • Total Net Assets

      $234.0M
    • Number of Holdings

      95
    • Options

      Expected
    • Gross Expense Ratio2

      0.53%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      01/30/2015
  • 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 10 ETFs as of 08/31/14).
  • Yields
    as of 01/28/15

    • 30-Day SEC Yield1

      5.79%
    • Distribution Yield1

      9.45%
    • 12-Month Yield1

      5.80%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      0.13%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.53%
    • Fee Waivers and
      Expense Reimbursement

      -0.13%
    • Net Expense Ratio/TER2

      0.40%
    2Expenses for PFXF are capped contractually at 0.40% until 09/01/15. 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

      9,500,000
    • Estimated Cash

      PFXFEU
    • Total Cash

      PFXFTC
    • CUSIP

      57061R791
    • ISIN

      US57061R7917
    5See IIV Details. Source: Bloomberg
  • Fundamentals
    as of 01/27/15

    • 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 01/28/15

    NAV/
    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 $20.99
    $21.03
    97,168
    180,938
    $-0.02 / -0.10%
    $0.01 / +0.05%
    +3.4%
    +2.9%
    $0.04
    0.21%
  • 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) -1.49 1.65 14.77 14.77 -- -- -- 6.69
    PFXF (Share Price) -1.01 1.94 15.93 15.93 -- -- -- 6.96
    WHPSL (Index) -0.71 2.52 14.91 14.91 -- -- -- 7.08
    Performance Differential (NAV - Index) -0.78 -0.87 -0.14 -0.14 -- -- -- -0.39
    After Tax Held -- -- -- 11.85 -- -- -- 4.33
    After Tax Sold -- -- -- 8.29 -- -- -- 4.13
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/16/12
    PFXF (NAV) -1.49 1.65 14.77 14.77 -- -- -- 6.69
    PFXF (Share Price) -1.01 1.94 15.93 15.93 -- -- -- 6.96
    WHPSL (Index) -0.71 2.52 14.91 14.91 -- -- -- 7.08
    Performance Differential (NAV - Index) -0.78 -0.87 -0.14 -0.14 -- -- -- -0.39
    After Tax Held -- -- -- 11.85 -- -- -- 4.33
    After Tax Sold -- -- -- 8.29 -- -- -- 4.13
  • View All Holdings »Top 10 Holdings (%)as of 12/31/14

    Total Holdings: 95
    Holding Name
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Arcelormittal
    01/15/2016
    NR
    Luxembourg
    USD
    3.66
    Tyson Foods Inc
    Perpetual
    NR
    U.S.
    USD
    3.58
    United Technologies Corp
    08/01/2015
    BBB+
    U.S.
    USD
    3.17
    Alcoa Inc
    Perpetual
    BB-
    U.S.
    USD
    2.93
    Exelon Corp
    Perpetual
    NR
    U.S.
    USD
    2.84
    Dominion Resources Inc/Va
    Perpetual
    BBB-
    U.S.
    USD
    2.44
    American Realty Capital Properties Inc
    Perpetual
    NR
    U.S.
    USD
    2.31
    Health Care Reit Inc
    Perpetual
    BB+
    U.S.
    USD
    2.22
    Nextera Energy Inc
    09/01/2015
    NR
    U.S.
    USD
    2.04
    Weyerhaeuser Co
    07/01/2016
    NR
    U.S.
    USD
    1.87
    Top 10 Total (%)27.06

    †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 12/31/14

    • Country

      % of Net Assets
    • U.S.

      91.2
    • BERMUDA

      3.8
    • LUXEMBOURG

      3.7
    • MARSHALL ISLANDS

      1.7
    • Other

      -0.3
  • Currency Exposure (%)
    as of 12/31/14

    • U.S. Dollar

      100.29
    • Other

      -0.29
    • Total

      100.00
  • Industry Weightings (%) as of 12/31/14

    • Sector

      % of Net Assets
    • REITS

      34.1
    • Electric

      24.6
    • Telecommunications

      11.2
    • Insurance

      4.8
    • Iron/Steel

      4.1
    • Agriculture

      3.9
    • Food

      3.6
    • Aerospace/Defense

      3.2
    • Mining

      2.9
    • Hand/Machine Tools

      1.8
    • Transportation

      1.7
    • Sovereign

      1.3
    • Office/Business Equip

      1.1
    • Pipelines

      1.0
    • Media

      0.7
    • Healthcare-Services

      0.4
    • Other

      -0.3
  • Credit Quality (%)
    as of 12/31/14

    Composite % of Net Assets
    Investment Grade AA 1.34
    A 3.67
    BBB 44.49
    Non-Investment Grade BB 14.52
    B 2.21
    CCC 0.77
    Total Investment Grade 49.50
    Total Non-Investment Grade 17.51
    Not rated 32.99
    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 12/31/14