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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 02/24/17

    • 30-Day SEC Yield1

      5.76%
    • Total Net Assets

      $430.1M
    • Number of Holdings

      115
    • Options

      Expected
    • Gross Expense Ratio2

      0.49%
    • Net Expense Ratio/TER2

      0.41%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      02/28/2017
  • Morningstar™ Ratings3
    as of 1/31/17

    Category Overall 3 Year 5 Year
    Preferred Stock
       
    3 stars of 42 Funds
       
    3 stars of 42 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 12/31/16).
  • Yield
    as of 02/24/17

    • 30-Day SEC Yield1

      5.76%
    • Distribution Yield1

      4.12%
    • 12-Month Yield1

      5.59%
     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

      21,400,000
    • Estimated Cash

      PFXFEU
    • Total Cash

      PFXFTC
    • CUSIP

      92189F429
    • ISIN

      US92189F4292
    5See IIV Details. Source: Bloomberg
  • Prices as of 02/24/17

    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 $20.10
    $20.10
    211,528
    90,548
    $0.03 / +0.13%
    $0.05 / +0.25%
    +5.4%
    +5.2%
    $0.00
    0.01%
  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    1 MO3 MOYTD1 YR3 YR5 YR10 YRLIFE
    07/16/12
    PFXF (NAV)3.54-0.623.548.916.49----5.59
    PFXF (Share Price)2.96-1.022.968.356.24----5.51
    WHPSL (Index)2.70-0.812.708.656.485.60--5.59
    Performance Differential (NAV - Index)0.840.190.840.260.01----0.00
    After Tax Held3.20-1.303.206.324.00----3.21
    After Tax Sold2.00-0.362.005.033.90----3.29
    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 01/31/17

    Total Holdings: 118
    Holding Name
    Maturity
    Composite
    Rating
    Country
    Currency
    % of Net
    Assets
    T-Mobile Us Inc
    12/15/2017
    NR
    U.S.
    USD
    3.44
    Kinder Morgan Inc/De
    10/26/2018
    NR
    U.S.
    USD
    2.66
    Nextera Energy Inc
    Perpetual
    NR
    U.S.
    USD
    2.53
    Dominion Resources Inc/Va
    08/15/2019
    BBB-
    U.S.
    USD
    2.40
    Frontier Communications Corp
    06/29/2018
    NR
    U.S.
    USD
    2.37
    American Tower Corp
    02/15/2018
    NR
    U.S.
    USD
    2.34
    Anthem Inc
    05/01/2018
    BBB-
    U.S.
    USD
    2.04
    Exelon Corp
    06/01/2017
    NR
    U.S.
    USD
    1.92
    Vereit Inc
    Perpetual
    NR
    U.S.
    USD
    1.83
    Southern Co/The
    10/15/2075
    BBB
    U.S.
    USD
    1.77
    Top 10 Total (%)23.30

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

  • Country Weightings (%) as of 01/31/17

    • Country

      % of Net Assets
    • UNITED STATES

      96.82
    • BERMUDA

      3.39
    • MARSHALL ISLANDS

      0.59
    • Other/Cash

      -0.79
  • Currency Exposure (%)
    as of 01/31/17

    • U.S. Dollar

      100.79
    • Other/Cash

      -0.79
  • Sector Weightings (%) as of 01/31/17

    • Sector

      % of Net Assets
    • Electric

      29.4
    • REITS

      27.8
    • Telecommunications

      15.4
    • Insurance

      4.9
    • Agriculture

      4.2
    • Miscellaneous Manufactur

      3.7
    • Pipelines

      3.4
    • Oil&Gas

      2.5
    • Healthcare-Services

      2.0
    • Aerospace/Defense

      1.5
    • Internet

      1.3
    • Hand/Machine Tools

      1.3
    • Food

      1.1
    • Office/Business Equip

      0.8
    • Transportation

      0.6
    • Media

      0.5
    • Sovereign

      0.5
    • Other/Cash

      -0.8
  • Credit Quality (%) as of 01/31/17

    Composite % of Net Assets
    Investment Grade AA 4.20
    A 3.31
    BBB 42.04
    Non-Investment Grade BB 11.95
    B 1.54
    CCC 0.51
    Total Investment Grade -- 49.55
    Total Non-Investment Grade -- 14.01
    Not Rated -- 36.50
    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 01/31/17