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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
  • ETF Structure

    Physical
  • Administrator

    Van Eck Associates
  • Custodian

    State Street Bank and Trust Company
  • Index Ticker

    WHPSL
  • Index Rebalancing

    Monthly

 
as of 07/13/20

  • 30-Day SEC Yield1

    6.02%
  • Total Net Assets

    $693.7M
  • Number of Holdings

    138
  • Options

    Expected
  • Gross Expense Ratio2

    0.46%
  • Net Expense Ratio/TER2

    0.41%
  • Distribution Frequency

    Monthly

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 06/30/20 Download All Index Constituents

Total Constituents: 79
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full data
Constituent Name
Coupon
Maturity Weighting (%)
Nextera Energy Inc
5.279
03/01/2023
3.00
Sempra Energy
6.000
01/15/2021
2.39
At&T Inc
4.750
Perpetual
2.37
Dominion Energy Inc
7.250
06/01/2022
2.31
Becton Dickinson And Co
0.000
06/01/2023
2.26
Southern Co
6.750
08/01/2022
2.15
Nextera Energy Inc
4.872
09/01/2022
2.06
Arcelormittal Sa
0.000
05/18/2023
2.03
At&T Inc
5.350
11/01/2066
1.94
At&T Inc
5.000
Perpetual
1.72
Top 10 Total (%) 22.23
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 05/31/20

  • Country

    % of Net Assets
  • United States

    94.54
  • Canada

    3.05
  • Bermuda

    2.41

Index Sector Weightings (%) as of 06/30/20

  • Sector

    % of Net Assets
  • Utilities

    31.4
  • Real Estate

    13.9
  • Telecommunication Services

    13.1
  • Diversified Financials

    7.4
  • Energy

    4.1
  • Insurance

    4.0
  • Automobiles & Components

    3.5
  • Food, Beverage & Tobacco

    3.2
  • Materials

    3.1
  • OTHERS

    16.3

Index Credit Quality (%) as of 06/30/20

Composite % of Net Assets
Investment Grade AA 0.39
A 1.33
BBB 35.35
Non-Investment Grade BB 24.66
B 0.79
Total Investment Grade -- 37.07
Total Non-Investment Grade -- 25.45
Not Rated -- 37.48
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 06/30/20

 Average Maturity: -- Years