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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

    • Exchange

      NYSE Arca
    • Commencement

    • ETF Structure

    • Administrator

      Van Eck Associates
    • Custodian

      Bank of New York Mellon
    • Index Ticker

    • Index Rebalancing

    as of 11/17/17

    • 30-Day SEC Yield1

    • Total Net Assets

    • Number of Holdings

    • Options

    • Gross Expense Ratio2

    • Net Expense Ratio/TER2

    • Distribution Frequency

    • Next Distribution Date

  • View All IndicesView All ETFsPerformance History: Average Annual Total Returns* (%)

    PFXF (NAV)0.070.579.314.924.895.41--5.86
    PFXF (Share Price)0.320.779.194.974.895.30--5.88
    WHPSL (Index)0.120.587.934.244.735.31--5.77
    Performance Differential (NAV - Index)-0.05-0.011.380.680.160.10--0.09
    After Tax Held-0.20-0.116.922.292.472.96--3.48
    After Tax Sold0.040.325.272.792.693.09--3.49
    Quarter End as of 09/30/17
    PFXF (NAV)-0.061.399.243.565.415.74--5.95
    PFXF (Share Price)-
    WHPSL (Index)-
    Performance Differential (NAV - Index)
    After Tax Held-0.250.747.140.972.973.30--3.57
    After Tax Sold-0.030.795.
  • Performance History:Cumulative Total Return (%) as of 12/31/16

    1 YR3 YR5 YR10 YRLIFE
    PFXF (NAV)5.7921.05----23.67
    PFXF (Share Price)6.6721.74----23.92
    WHPSL (Index)5.3221.10----24.68
    Performance Differential (NAV - Index)0.47-0.05-----1.01
  • Distribution History

    Anticipated Frequency: Monthly Dividend Income & Annual Capital Gains
    Ex-Date Record
    Payable Date Dividend
    Capital Gains
    Capital Gains
    Return of Capital Total Distributions
    11/01/2017 11/03/2017 11/07/2017 $0.0771 -- -- -- $0.0771
    10/02/2017 10/04/2017 10/06/2017 $0.1222 -- -- -- $0.1222
    09/01/2017 09/06/2017 09/08/2017 $0.0883 -- -- -- $0.0883
    08/01/2017 08/03/2017 08/07/2017 $0.1021 -- -- -- $0.1021
    07/03/2017 07/06/2017 07/10/2017 $0.1080 -- -- -- $0.1080
    06/01/2017 06/05/2017 06/07/2017 $0.0896 -- -- -- $0.0896
    05/01/2017 05/03/2017 05/05/2017 $0.0690 -- -- -- $0.0690
    04/03/2017 04/05/2017 04/07/2017 $0.1447 -- -- -- $0.1447
    03/01/2017 03/03/2017 03/07/2017 $0.0933 -- -- -- $0.0933
    02/01/2017 02/03/2017 02/07/2017 $0.0690 -- -- -- $0.0690
    12/28/2016 12/30/2016 01/04/2017 $0.1503 -- -- -- $0.1503
    12/01/2016 12/05/2016 12/07/2016 $0.0904 -- -- -- $0.0904
    11/01/2016 11/03/2016 11/07/2016 $0.0685 -- -- -- $0.0685
    10/03/2016 10/05/2016 10/07/2016 $0.1371 -- -- -- $0.1371
    09/01/2016 09/06/2016 09/08/2016 $0.0700 -- -- -- $0.0700
    08/01/2016 08/03/2016 08/05/2016 $0.0685 -- -- -- $0.0685
    07/01/2016 07/06/2016 07/08/2016 $0.1500 -- -- -- $0.1500
    06/01/2016 06/03/2016 06/07/2016 $0.0676 -- -- -- $0.0676
    05/02/2016 05/04/2016 05/06/2016 $0.0730 -- -- -- $0.0730
    04/01/2016 04/05/2016 04/07/2016 $0.1100 -- -- -- $0.1100
    03/01/2016 03/03/2016 03/07/2016 $0.0690 -- -- -- $0.0690
    02/01/2016 02/03/2016 02/05/2016 $0.0671 -- -- -- $0.0671
    12/29/2015 12/31/2015 01/05/2016 $0.1620 -- -- -- $0.1620
    12/01/2015 12/03/2015 12/07/2015 $0.0660 -- -- -- $0.0660
    11/02/2015 11/04/2015 11/06/2015 $0.0568 -- -- -- $0.0568
    10/01/2015 10/05/2015 10/07/2015 $0.2109 -- -- -- $0.2109
    09/01/2015 09/03/2015 09/08/2015 $0.0630 -- -- -- $0.0630
    08/03/2015 08/05/2015 08/07/2015 $0.0600 -- -- -- $0.0600
    07/01/2015 07/06/2015 07/08/2015 $0.1450 -- -- -- $0.1450
    06/01/2015 06/03/2015 06/05/2015 $0.0680 -- -- -- $0.0680
    05/01/2015 05/05/2015 05/07/2015 $0.0500 -- -- -- $0.0500
    04/01/2015 04/06/2015 04/08/2015 $0.1500 -- -- -- $0.1500
    03/02/2015 03/04/2015 03/06/2015 $0.0600 -- -- -- $0.0600
    02/02/2015 02/04/2015 02/06/2015 $0.0545 -- -- -- $0.0545
    12/29/2014 12/31/2014 01/05/2015 $0.1652 -- -- -- $0.1652
    12/01/2014 12/03/2014 12/05/2014 $0.0700 -- -- -- $0.0700
    11/03/2014 11/05/2014 11/07/2014 $0.0600 -- -- -- $0.0600
    10/01/2014 10/03/2014 10/07/2014 $0.1550 -- -- -- $0.1550
    09/02/2014 09/04/2014 09/08/2014 $0.0800 -- -- -- $0.0800
    08/01/2014 08/05/2014 08/07/2014 $0.0560 -- -- -- $0.0560
    07/01/2014 07/03/2014 07/08/2014 $0.1800 -- -- -- $0.1800
    06/02/2014 06/04/2014 06/06/2014 $0.0680 -- -- -- $0.0680
    05/01/2014 05/05/2014 05/07/2014 $0.0668 -- -- -- $0.0668
    04/01/2014 04/03/2014 04/07/2014 $0.1565 -- -- -- $0.1565
    03/03/2014 03/05/2014 03/07/2014 $0.0700 -- -- -- $0.0700
    02/03/2014 02/05/2014 02/07/2014 $0.0900 -- -- -- $0.0900
    12/27/2013 12/31/2013 01/03/2014 $0.1510 -- -- -- $0.1510
    12/02/2013 12/04/2013 12/06/2013 $0.1000 -- -- -- $0.1000
    11/01/2013 11/05/2013 11/07/2013 $0.0593 -- -- -- $0.0593
    10/01/2013 10/03/2013 10/07/2013 $0.1551 -- -- -- $0.1551
    09/03/2013 09/05/2013 09/09/2013 $0.0905 -- -- -- $0.0905
    08/01/2013 08/05/2013 08/07/2013 $0.0682 -- -- -- $0.0682
    07/01/2013 07/03/2013 07/08/2013 $0.1568 -- -- -- $0.1568
    06/03/2013 06/05/2013 06/07/2013 $0.0850 -- -- -- $0.0850
    05/01/2013 05/03/2013 05/07/2013 $0.0592 -- -- -- $0.0592
    04/01/2013 04/03/2013 04/05/2013 $0.1555 -- -- -- $0.1555
    03/01/2013 03/05/2013 03/07/2013 $0.0910 -- -- -- $0.0910
    02/01/2013 02/05/2013 02/07/2013 $0.0549 -- -- -- $0.0549
    12/27/2012 12/31/2012 01/03/2013 $0.1460 -- -- -- $0.1460
    12/03/2012 12/05/2012 12/07/2012 $0.1010 -- -- -- $0.1010
    11/01/2012 11/05/2012 11/07/2012 $0.0730 -- -- -- $0.0730
    10/01/2012 10/03/2012 10/05/2012 $0.1255 -- -- -- $0.1255
    09/04/2012 09/07/2012 09/10/2012 $0.0800 -- -- -- $0.0800
    *All registered investment companies are obliged to distribute portfolio gains to shareholders at yearend regardless of performance. Trading VanEck Vectors ETFs will also generate tax consequences and transaction expenses. The information provided is not intended to be tax advice. Tax consequences of dividend distributions may vary by individual taxpayer. There is no guarantee that dividends will be paid. To receive a distribution, you must have been a registered shareholder of the relevant VanEck Vectors ETFs on the record date. Distributions are paid to shareholders on the payment date. Past distributions are not indicative of future distributions.Certain distributions may constitute a return of capital, which will have the effect of reducing your cost basis in the Fund’s shares and thereby increasing the amount of capital gain, if any, or decreasing the amount of capital loss, if any, that you will realize when selling or exchanging Fund shares. The final determination of the tax characteristics cannot be determined until after each Fund’s yearend and are reported to shareholders on Form 1099-DIV. The form is mailed to shareholders shortly after calendar yearend specifying how the distributions paid by the Fund during the prior calendar year should be characterized for purposes of reporting the distribution on a shareholder’s tax return.The tax treatment and characterization of the Fund’s distributions may vary significantly from time to time depending on whether the Fund has gains or losses on the securities in its portfolio. The Fund’s distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The final composition of the tax characteristics of the distributions cannot be determined with certainty until after the end of the year, and will be reported to shareholders at that time. The amount of distributions will vary, depending on a number of factors. As portfolio and market conditions change, the rate of dividends may change. There can be no assurance that the Fund will be able to declare a dividend distribution in each period. Past performance is no guarantee of future results.Click here to access more detailed yearend tax information.
  • Calendar Year Returns (%) as of 12/31/2016

  • NAV History
    as of 10/31/17

  • Best & Worst
    Quarter Returns (%)
    as of 09/30/17

    • Best quarter

    • Worst quarter

    Best & Worst Quarter Returns are based on NAV, reflect the period since the Fund's inception, and are updated quarterly.
  • Important Disclosure

    VanEck only serves professional clients in countries where the funds are registered or where funds can be sold in accordance with local private placement rules.

    130-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among funds. It is based on the most recent 30-day period. This yield figure reflects the interest earned during the period after deducting the Fund's expenses for the period. It does not reflect the yield an investor would have received if they had held the Fund over the last twelve months assuming the most recent NAV. Distributions may vary from time to time. In the absence of temporary expense waivers or reimbursements, the 30-Day SEC Yield for VanEck Vectors Preferred Securities ex Financials ETF would have been 5.96% on 11/17/2017. The Distribution Yield is the annual yield an investor would receive if the most recent Fund distribution stayed the same going forward. The yield represents a single distribution from the Fund and does not represent the total return of the Fund.  The yield is calculated by annualizing the most recent distribution and dividing by the Fund NAV from the as-of date.  The 12-Month Yield is the yield an investor would have received if they had held the fund over the last 12 months assuming the most recent NAV. The 12-month yield is calculated by summing any income distributions over the past 12 months and dividing by the sum of the most recent NAV and any capital gain distributions made over the past 12 months. Yield information reflects temporary waivers of expenses and/or fees. Yields would have been reduced had these fees/expenses been included.

    2PFXF Fees & Expenses: Van Eck Associates Corporation (the "Adviser") has agreed to waive fees and/or pay Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses) from exceeding 0.40% of the Fund's average daily net assets per year until at least September 1, 2018. During such time, the expense limitation is expected to continue until the Fund's Board of Trustees acts to discontinue all or a portion of such expense limitation. TER, or Total Expense Ratio, is also referred to as "Net Expense Ratio".

    3Morningstar Ratings: If applicable, when the ETF is rated three stars or more for any given period. ©Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

    4These figures represent averages. Yield to Worst measures the lowest of either yield-to-maturity or yield-to-call date on every possible call date. Yield to Maturity is the annualized return on a bond held to maturity. Effective Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield. This duration measure is appropriate for bonds with embedded options.Modified Duration measures a bond's sensitivity to interest rate changes that reflects the change in a bond's price given a change in yield.Duration to Worst measures the duration of a bond computed using the bond's nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. Spread Duration measures a bond's price sensitivity to a 100 basis point change to its option-adjusted spread. As the rate of the Treasury security in the option-adjusted spread increases, the rate of the option-adjusted spread also increases.Years to Maturity is the period of time for which a financial instrument remains outstanding. Maturity refers to a finite time period at the end of which the financial instrument will cease to exist and the principal is repaid. Coupon is measured by weighting the coupon of each bond by its relative size in the portfolio. Coupons are fixed percentages paid on a fixed-income security on an annual basis. Averages are market weighted. The Coupon and Yield to Worst do not represent the performance of the Fund. These statistics do not take into account fees and expenses associated with investments of the Fund.

    5IIV is an abbreviation for the intraday indicative value of an ETF's Shares (and is also known as the Indicative Optimized Portfolio Value or IOPV), and is disseminated every 15 seconds during regular trading hours. The IIV is based on the current market value of the securities and/or cash required to be deposited in exchange for a Creation Unit. The IIV does not necessarily reflect the precise composition of the current portfolio of securities held by the Fund at a particular point in time or the best possible valuation of the current portfolio. Therefore, the IIV should not be viewed as a "real-time" update of the Fund's NAV, which is computed only once a day. The Fund is not involved in, or responsible for, the calculation or dissemination of the IIV and makes no warranty as to its accuracy.

    6The S&P 500® Index consists of 500 widely held common stocks covering industrial, utility, financial and transportation sector; as an Index, it is unmanaged and is not a security in which investments can be made.

    An investment in the Fund may be subject to risk which includes, among others, preferred securities, convertible securities risk, risk of investing in REITs, credit risk, and interest rate risk, all of which may adversely affect the Fund. Adverse economic, business or political developments affecting real estate could have an effect on the value of the Fund’s investments. Foreign investments are subject to risks, which include changes in economic and political conditions, foreign currency fluctuations, changes in foreign regulations, and changes in currency exchange rates which may negatively impact the Fund’s return. Small- and medium-capitalization companies may be subject to elevated risks. The Fund’s assets may be concentrated in a particular sector and may be subject to more risk than investments in a diverse group of sectors.

    The Fund is not sponsored, endorsed, or advised by Wells Fargo & Company, Wells Fargo Securities, LLC (together, “Wells Fargo”), the Index Calculation Agent, NYSE Arca, or any of their subsidiaries and affiliates. WELLS FARGO AND INDEX CALCULATION AGENT DO NOT GUARANTEE THE ACCURACY AND/OR COMPLETENESS OF ANY DATA SUPPLIED BY THEM OR OF THE INDEX UNDERLYING THE ETF AND MAKE NO WARRANTY AS TO THE RESULTS TO BE OBTAINED FROM INVESTING IN THE ETF OR IN THE INDEX.

    After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after tax returns depend on the investor's tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares throughtax-deferred arrangements such as 401(k) plans or individual retirement.

    The S&P 500 Index (“Index”) is a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Van Eck Associates Corporation. Copyright © 2017 S&P Dow Jones Indices LLC, a division of S&P Global, Inc., and/or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. For more information on any of S&P Dow Jones Indices LLC’s indices please visit S&P® is a registered trademark of S&P Global and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.

    Index returns are not Fund returns and do not reflect any management fees or brokerage expenses. Investors can not invest directly in the Index. Returns for actual Fund investors may differ from what is shown because of differences in timing, the amount invested and fees and expenses. Index returns assume that dividends have been reinvested.

    Country of Risk:The International Organization for Standardization (ISO) country code of the issuer's country of risk. The assignment of an issuer's country of risk takes four factors into account (listed in order of importance): management location, country of primary listing, country of revenue and reporting currency of the issuer. Management location is defined by country of domicile unless location of such key players as the Chief Executive Officer (CEO), Chief Financial Officer CFO), Chief Operating Officer (COO), and/or General Counsel is otherwise.

    The "Net Asset Value" (NAV) of a VanEck Vectors Exchange Traded Fund (ETF) is determined at the close of each business day, and represents the dollar value of one share of the fund; it is calculated by taking the total assets of the fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV is not necessarily the same as the ETF's intraday trading value. VanEck Vectors ETF investors should not expect to buy or sell shares at NAV.

    Fund shares are not individually redeemable and will be issued and redeemed at their NAV only through certain authorized broker-dealers in large, specified blocks of shares called "creation units" and otherwise can be bought and sold only through exchange trading. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading Fund shares in the secondary market. Past performance is no guarantee of future results. Returns for actual Fund investments may differ from what is shown because of differences in timing, the amount invested, and fees and expenses.

    The performance data quoted represents past performance. Past performance is not a guarantee of future results. Performance information for the Fund reflects temporary waivers of expenses and/or fees. Had the Fund incurred all expenses, investment returns would have been reduced. Investment return and value of the shares of the Fund will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted. Fund returns reflect dividends and capital gains distributions. Performance current to the most recent month end is available by calling 800.826.2333 or on this web page.

    Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus , which contains this and other information, call 800.826.2333 or visit . Please read the prospectus and summary prospectus carefully before investing.

    This content is published in the United States for residents of specified countries. Investors are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this content. Nothing in this content should be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction, nor is it intended as investment, tax, financial, or legal advice. Investors should seek such professional advice for their particular situation and jurisdiction.