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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 09/20/19

  • 30-Day SEC Yield1

    5.30%
  • Total Net Assets

    $694.3M
  • Number of Holdings

    123
  • Options

    Expected
  • Gross Expense Ratio2

    0.46%
  • Net Expense Ratio/TER2

    0.41%
  • Distribution Frequency

    Monthly
  • Next Distribution Date

    09/30/2019

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.

Index Provider: Wells Fargo Securities, LLC

Index Profile

  • Ticker

    WHPSL
  • Inception Date

    01/03/2012
  • Rebalance Frequency

    Monthly

Top 10 Constituents (%) as of 08/31/19 Download All Index Constituents

Total Constituents: 79
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full data
Constituent Name
Coupon
Maturity Weighting (%)
Becton Dickinson And Co
6.125
05/01/2020
4.82
Sempra Energy
0.000
01/15/2021
3.13
--
6.750
08/01/2022
2.82
--
7.250
06/01/2022
2.58
At&T Inc
0.000
11/01/2066
2.24
Avantor Inc
0.000
05/15/2022
2.00
Duke Energy Corp
0.000
Perpetual
1.75
Southern Co
6.250
10/15/2075
1.66
Vereit Inc
6.700
Perpetual
1.54
Qwest Corp
6.500
09/01/2056
1.53
Top 10 Total (%) 24.07
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 08/31/19

  • Country

    % of Net Assets
  • United States

    95.19
  • Bermuda

    2.64
  • Canada

    2.17

Index Sector Weightings (%) as of 08/31/19

  • Sector

    % of Net Assets
  • Utilities

    30.8
  • Real Estate

    15.5
  • Telecommunication Services

    10.9
  • Diversified Financials

    7.9
  • Insurance

    4.9
  • Health Care Equipment & Services

    4.8
  • Energy

    4.4
  • Food, Beverage & Tobacco

    3.8
  • Pharmaceuticals, Biotechnology

    2.0
  • OTHERS

    14.8

Index Credit Quality (%) as of 08/31/19

Composite % of Net Assets
Investment Grade AA 0.44
A 1.57
BBB 43.29
Non-Investment Grade BB 19.38
B 1.16
CCC 0.22
Total Investment Grade -- 45.31
Total Non-Investment Grade -- 20.76
Not Rated -- 33.94
Source: Bloomberg. Rating is a proprietary composite of various rating agencies. A bond must be rated by two or more rating agencies to receive a composite rating; otherwise it is classified as Not Rated.

Maturity (%) as of 08/31/19

 Average Maturity: -- Years