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PRF
VanEck Vectors Preferred US Equity UCITS ETF

Index Description

The Wells Fargo® Hybrid and Preferred Securities Aggregate Index (WAGG) tracks the performance of non-convertible U.S. preferred securities issued by companies that are listed on U.S. exchanges.

Index Key Points

Underlying Index
Wells Fargo® Hybrid and Preferred Securities Aggregate Index (WAGG)


Index components
The Index comprises non-convertible U.S. preferred securities issued by companies that are listed on U.S. exchanges.


Components eligible for inclusion

  • Must have a par value of $25 and must be U.S. dollar denominated.
  • Must be listed on the New York Stock Exchange (“NYSE”) or NYSE ARCA Exchange (“NYSE ARCA”).
  • Must maintain a minimum par value of $250 million outstanding.
  • Must have a minimum monthly trading volume during each of the last six months of at least 250,000 trading units.
  • May have fixed or floating dividends or coupons.
  • Must be rated investment grade by or Moody's Investors Service, Inc. (“Moody’s”) or Standard & Poor's Ratings Services (“S&P”). Investment grade means “Baa3” or above by Moody’s and “BBB-”or above by S&P.
  • The Index has a 5% issuer cap and is rebalanced monthly.

Index Provider
Wells Fargo Securities, LLC

For more information about the index please click here

 

Index Information

  • Index Provider

    Wells Fargo Securities, LLC
  • Index Type

    Total Return
  • Currency

    USD
  • Inception Date

    06 Jul 2009
  • Rebalance Frequency

    Monthly
  • Bloomberg Ticker

    WAGG

Index Top 10 Constituents (%) as of 30 Sep 2020

Total Constituents: 154
Constituent Name
Coupon
Maturity Weighting (%)
Citigroup Capital Xiii
7.130
30 Oct 2040
2.85
Pnc Financial Services
6.125
Perpetual
1.88
Hsbc Holdings Plc
6.200
Perpetual
1.73
Capital One Financial Co
5.000
Perpetual
1.73
At&T Inc
5.350
01 Nov 2066
1.64
Allstate Corp
5.100
Perpetual
1.45
Capital One Financial Co
4.800
Perpetual
1.41
Us Bancorp
6.500
Perpetual
1.38
Jpmorgan Chase & Co
6.000
Perpetual
1.36
Duke Energy Corp
5.750
Perpetual
1.29
Top 10 Total (%) 16.72
These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Index Country Weightings (%) as of 30 Sep 2020

  • Country

    Weightings (%)
  • United States

    94.5
  • United Kingdom

    2.4
  • Netherlands

    1.4
  • Bermuda

    1.0
  • Canada

    0.7

Index Sector Weightings (%) as of 30 Sep 2020

  • Sector

    Weightings (%)
  • Financial

    75.2
  • Utilities

    17.3
  • Communications

    6.4
  • Energy

    0.7
  • Government

    0.3

Index Credit Quality (%) as of 30 Sep 2020

Composite % of Net Assets
Investment Grade AA 0.35
A 0.82
BBB 75.97
Non-Investment Grade BB 22.49
Total Investment Grade -- 77.13
Total Non-Investment Grade -- 22.49
Not Rated -- 0.38

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 30 Sep 2020

 

Important Disclosure           

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An investment in the promoted investment funds may only be made based on the investment fund’s official sales prospectus, the relevant supplement and KIID and will be subject to the terms and conditions contained therein.

You can lose money by investing in the Funds. The value of the investments may go up or down and the investor may not get back the amount invested. Past performance is not a guide to future performance and should not be the sole factor of consideration when selecting a product. Any investment in a fund should be part of an overall investment program, not a complete program. An investor should consider investment objectives, risks, charges, and expenses of the investment carefully before investing.

Investment fund investing involves risk, including possible loss of principal. Investors should consult the prospectus and key investor information document ("KIID") before subscribing to any fund. The prospectus, the key investor information documents and the financial reports can be obtained free of charge from this website and upon request from the funds’ registered office and the offices of all local information agents. The documents, except for KIIDs, are only available in English and certain other languages as applicable.

Performance data for the Irish domiciled funds is displayed on a Net Asset Value basis, in Base Currency terms, with net income reinvested, net of fees. Brokerage or transaction fees will apply. Performance data for the Dutch domiciled ETFs include income distributions gross of Dutch withholding tax, net of fees and assume that the Dutch dividend withholding tax levied from the dividend payment of the ETF will be deducted or reclaimed with the Dutch tax authority and is reinvested. Different investor types and investors from other jurisdictions may not be able to achieve the same level of performance due to their tax status and local tax rules. Brokerage or transaction fees will apply. The Dutch domiciled ETFs use a gross reinvestment index. Please note that the performance includes income distributions gross of Dutch withholding tax because Dutch investors deduct or reclaim the 15% Dutch withholding tax levied. Different investor types and investors from other jurisdictions may not be able to achieve the same level of performance due to their tax status and local tax rules. For more information please be referred to the respective fund’s performance section on this website.

The sales prospectus and KIID contain this and other information. Please read the sales prospectus and KIID carefully before investing.

Not Insured — No Bank Guarantee — May Lose Value