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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 03/23/17

    • 30-Day SEC Yield1

      5.81%
    • Total Net Assets

      $427.6M
    • Number of Holdings

      114
    • Options

      Expected
    • Gross Expense Ratio2

      0.49%
    • Net Expense Ratio/TER2

      0.41%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      03/31/2017
  • 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 12/31/16).
  • Yield
    as of 03/23/17

    • 30-Day SEC Yield1

      5.81%
    • Distribution Yield1

      5.63%
    • 12-Month Yield1

      5.77%
     1 See Important Disclosure for definitions.
  • Fees & Expenses2

    • Management Fee

      0.40%
    • Other Expenses

      0.09%
    • Acquired Fund Fees and Expenses

      --
    • Gross Expense Ratio

      0.49%
    • Fee Waivers and
      Expense Reimbursement

      -0.08%
    • Net Expense Ratio/TER2

      0.41%
    2Expenses for PFXF are capped contractually at 0.40% until 09/01/17. 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

      21,500,000
    • Estimated Cash

      PFXFEU
    • Total Cash

      PFXFTC
    • CUSIP

      92189F429
    • ISIN

      US92189F4292
    5See IIV Details. Source: Bloomberg
  • Prices as of 03/23/17

    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 $19.89
    $19.93
    197,501
    172,375
    $0.02 / +0.11%
    $0.05 / +0.25%
    +4.8%
    +4.8%
    $0.04
    0.22%
  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    07/16/12
    PFXF (NAV)1.875.425.479.936.18----5.92
    PFXF (Share Price)2.135.375.158.806.03----5.89
    WHPSL (Index)1.715.144.459.476.105.28--5.88
    Performance Differential (NAV - Index)0.160.281.020.460.08----0.04
    After Tax Held1.714.765.007.513.78----3.58
    After Tax Sold1.063.113.135.793.71----3.57
    Quarter End as of 12/31/16
    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    07/16/12
    PFXF (NAV)-0.05-5.205.795.796.58----4.88
    PFXF (Share Price)0.21-5.556.676.676.78----4.93
    WHPSL (Index)0.66-4.535.325.326.59----5.07
    Performance Differential (NAV - Index)-0.71-0.670.470.47-0.01-----0.19
    After Tax Held-0.25-5.813.283.284.08----2.55
    After Tax Sold-0.03-2.933.333.333.98----2.78
  • Daily HoldingsTop 10 Holdings (%) as of 02/28/17

    Total Holdings: 115
    Holding Name
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    T-Mobile Us Inc
    12/15/2017
    NR
    U.S.
    USD
    3.38
    Nextera Energy Inc
    Perpetual
    NR
    U.S.
    USD
    2.61
    Kinder Morgan Inc/De
    10/26/2018
    NR
    U.S.
    USD
    2.59
    American Tower Corp
    02/15/2018
    NR
    U.S.
    USD
    2.47
    Dominion Resources Inc/Va
    08/15/2019
    BBB-
    U.S.
    USD
    2.37
    Anthem Inc
    05/01/2018
    BBB-
    U.S.
    USD
    2.08
    Frontier Communications Corp
    06/29/2018
    NR
    U.S.
    USD
    2.03
    Exelon Corp
    06/01/2017
    NR
    U.S.
    USD
    1.89
    Vereit Inc
    Perpetual
    NR
    U.S.
    USD
    1.85
    Arconic Inc
    10/01/2017
    NR
    U.S.
    USD
    1.83
    Top 10 Total (%)23.10

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

  • Country Weightings (%) as of 02/28/17

    • Country

      % of Net Assets
    • UNITED STATES

      95.31
    • BERMUDA

      3.40
    • MARSHALL ISLANDS

      0.58
    • Other/Cash

      0.70
  • Currency Exposure (%)
    as of 02/28/17

    • U.S. Dollar

      99.30
    • Other/Cash

      0.70
  • Sector Weightings (%) as of 02/28/17

    • Sector

      % of Net Assets
    • Electric

      29.6
    • REITS

      26.6
    • Telecommunications

      14.8
    • Insurance

      4.9
    • Agriculture

      4.4
    • Miscellaneous Manufactur

      3.7
    • Pipelines

      3.3
    • Oil&Gas

      2.3
    • Healthcare-Services

      2.1
    • Aerospace/Defense

      1.8
    • Internet

      1.3
    • Hand/Machine Tools

      1.3
    • Food

      1.0
    • Office/Business Equip

      0.7
    • Transportation

      0.6
    • Media

      0.5
    • Sovereign

      0.5
    • Other/Cash

      0.7
  • Credit Quality (%) as of 02/28/17

    Composite % of Net Assets
    Investment Grade AA 4.13
    A 3.23
    BBB 41.63
    Non-Investment Grade BB 12.09
    B 0.87
    CCC 0.53
    Total Investment Grade -- 48.98
    Total Non-Investment Grade -- 13.48
    Not Rated -- 36.83
    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 02/28/17