• 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 08/26/14

    • 30-Day SEC Yield1

      6.02%
    • Total Net Assets

      $173.3M
    • 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
  • Index Key Points

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

    WHPSL is a rules-based index designed to track the performance of convertible or exchangeable and non-convertible preferred securities, issued by U.S. or foreign issuers that are not financial services companies or banks and that are listed on U.S. national securities exchanges.

    Security Eligibility Requirements:    

    • Must maintain minimum par value of $250 million outstanding or a minimum of 10 million shares outstanding.
    • Must  be U.S. dollar denominated.
    • Must have minimum monthly trading volume on its primary listing exchange during each of the last six months of at least 250,000 trading units, based on 9 ETFs as of 03/31/13.

    Index Provider: Wells Fargo Securities, LLC

  • Index Profile
     

    • Ticker

      WHPSL
    • Inception Date

      01/03/2012
    • Rebalance Frequency

      Monthly
  • Top 10 Constituents (%)as of 07/31/14

    Total Constituents: 79
    Constituent Name
    Coupon
    Maturity Weighting (%)
    Arcelormittal
    6.000
    01/15/2016
    5.19
    United Technologies Corp
    7.500
    08/01/2015
    3.28
    Exelon Corp
    0.000
    Perpetual
    2.84
    Dominion Resources Inc
    0.000
    Perpetual
    2.55
    American Realty Cap Prop
    6.700
    Perpetual
    2.51
    Health Care Reit Inc
    6.500
    Perpetual
    2.09
    Nextera Energy Inc
    5.889
    09/01/2015
    1.97
    Weyerhaeuser Co
    6.375
    07/01/2016
    1.87
    Stanley Black & Decker I
    5.750
    07/25/2052
    1.85
    Qwest Corp
    6.125
    06/01/2053
    1.83
    Top 10 Total (%)25.98
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Index Country Weightings (%)
    as of 07/31/14

    • Country

      % of Net Assets
    • U.S.

      93.9
    • LUXEMBOURG

      5.2
    • NA / UNDEFINED

      0.9
  • Index Industry Weightings (%)
    as of 07/31/14

    • Sector

      % of Net Assets
    • REITS

      36.8
    • Electric

      26.8
    • Telecommunications

      10.4
    • Iron/Steel

      6.4
    • Insurance

      5.0
    • Aerospace/Defense

      3.3
    • Agriculture

      2.9
    • Hand/Machine Tools

      1.9
    • Transportation

      1.8
    • Sovereign

      1.4
    • OTHERS

      3.3
  • Index Credit Quality (%)
    as of 07/31/14

    Composite % of Net Assets
    Investment Grade AA 1.43
    A 3.84
    BBB 48.08
    Non-Investment Grade BB 11.85
    B 2.42
    CCC 0.82
    Total Investment Grade 53.35
    Total Non-Investment Grade 15.08
    Not Rated 31.57
    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

    Average Maturity: Years