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PFXF VanEck Vectors Preferred Securities ex Financials ETF

  • Fund Description

    The VanEck Vectors Preferred Securities ex Financials ETF (PFXF®) seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the Wells Fargo® Hybrid and Preferred Securities ex Financials Index. The Index is intended to track the overall performance of U.S.-listed preferred securities excluding those with a financial sector classification, including securities 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 07/01/16

    • 30-Day SEC Yield1

      5.84%
    • Total Net Assets

      $378.0M
    • Number of Holdings

      106
    • Options

      Expected
    • Gross Expense Ratio2

      0.47%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      07/29/2016
  • Morningstar™ Ratings3
    as of 5/31/16

    Category Overall 3 Year 5 Year
    Preferred Stock
        
    4 of 37 Funds
        
    4 of 37 Funds
    --
  • 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 9 ETFs as of 08/31/15).
  • Yield
    as of 07/01/16

    • 30-Day SEC Yield1

      5.84%
    • Distribution Yield1

      8.71%
    • 12-Month Yield1

      5.59%
     1 See Important Disclosure for definitions.
  • Fees and Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      0.07%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.47%
    • Fee Waivers and
      Expense Reimbursement

      -0.07%
    • Net Expense Ratio/TER2

      0.40%
    2Expenses for PFXF are capped contractually at 0.40% until 09/01/16. Cap excludes certain expenses, such as interest.
  • Trading Information

    • Fund Ticker

      PFXF
    • Index Total Return Ticker

      WHPSL
    • NAV

      PFXFNV
    • Intraday NAV (IIV)5

      PFXFIV
    • Shares Outstanding

      18,300,000
    • Estimated Cash

      PFXFEU
    • Total Cash

      PFXFTC
    • CUSIP

      92189F429
    • ISIN

      US92189F4292
    5See IIV Details. Source: Bloomberg
  • Prices as of 07/01/16

    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 $20.66
    $20.72
    186,747
    355,903
    -$0.18 / -0.84%
    $-0.18 / -0.86%
    +10.0%
    +11.1%
    $0.06
    0.30%
  • 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) 1.00 7.24 8.85 4.65 6.12 -- -- 6.42
    PFXF (Share Price) 1.00 6.46 9.75 4.30 6.06 -- -- 6.47
    WHPSL (Index) 0.95 7.18 7.71 4.62 6.12 -- -- 6.47
    Performance Differential (NAV - Index) 0.05 0.06 1.14 0.03 0.00 -- -- -0.05
    After Tax Held 0.84 6.66 7.74 2.22 3.61 -- -- 4.07
    After Tax Sold 0.57 4.09 5.01 2.71 3.58 -- -- 3.94
    Quarter End as of 03/31/16
    1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR LIFE
    07/16/12
    PFXF (NAV) 4.30 5.86 5.86 3.11 5.56 -- -- 5.91
    PFXF (Share Price) 3.69 6.90 6.90 3.02 5.51 -- -- 5.96
    WHPSL (Index) 4.32 4.83 4.83 3.26 5.59 -- -- 6.00
    Performance Differential (NAV - Index) -0.02 1.03 1.03 -0.15 -0.03 -- -- -0.09
    After Tax Held 4.14 5.20 5.20 0.70 3.06 -- -- 3.58
    After Tax Sold 2.43 3.34 3.34 1.88 3.18 -- -- 3.57
  • Daily Holdings »Top 10 Holdings (%)as of 05/31/16

    Total Holdings: 105
    Holding Name
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    Frontier Communications Corp
    06/29/2018
    NR
    U.S.
    USD
    3.38
    Tyson Foods Inc
    07/15/2017
    NR
    U.S.
    USD
    3.23
    Kinder Morgan Inc/De
    Perpetual
    NR
    U.S.
    USD
    2.61
    American Tower Corp
    02/15/2018
    NR
    U.S.
    USD
    2.59
    T-Mobile Us Inc
    12/15/2017
    NR
    U.S.
    USD
    2.59
    Vereit Inc
    Perpetual
    NR
    U.S.
    USD
    2.01
    Anthem Inc
    05/01/2018
    BBB-
    U.S.
    USD
    1.99
    Southwestern Energy Co
    01/15/2018
    NR
    U.S.
    USD
    1.98
    Southern Co/The
    Perpetual
    BBB
    U.S.
    USD
    1.95
    Exelon Corp
    06/01/2017
    NR
    U.S.
    USD
    1.94
    Top 10 Total (%)24.27

    These are not recommendations to buy or to sell any security. Securities and holdings may vary.

  • Country Weightings (%) as of 05/31/16

    • Country

      % of Net Assets
    • UNITED STATES

      94.87
    • BERMUDA

      2.52
    • MARSHALL ISLANDS

      1.26
    • Other/Cash

      1.35
  • Currency Exposure (%)
    as of 05/31/16

    • U.S. Dollar

      98.65
    • Other/Cash

      1.35
  • Sector Weightings (%) as of 05/31/16

    • Sector

      % of Net Assets
    • REITS

      30.6
    • Electric

      20.3
    • Telecommunications

      16.3
    • Agriculture

      4.5
    • Miscellaneous Manufactur

      4.1
    • Oil&Gas

      3.5
    • Insurance

      3.4
    • Pipelines

      3.3
    • Food

      3.2
    • Healthcare-Services

      2.0
    • Mining

      1.5
    • Hand/Machine Tools

      1.4
    • Internet

      1.4
    • Transportation

      1.3
    • Office/Business Equip

      0.8
    • Media

      0.5
    • Sovereign

      0.5
    • Other/Cash

      1.3
  • Credit Quality (%)
    as of 05/31/16

    Composite % of Net Assets
    Investment Grade AA 4.62
    A 2.91
    BBB 39.02
    Non-Investment Grade BB 11.42
    B 1.69
    CCC 0.58
    Total Investment Grade -- 46.55
    Total Non-Investment Grade -- 13.68
    Not Rated -- 38.42
    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 05/31/16