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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 05/06/21

  • 30-Day SEC Yield1

    5.16%
  • Total Net Assets

    $953.7M
  • Number of Holdings

    142
  • Options

    Expected
  • Gross Expense Ratio2

    0.40%
  • Net Expense Ratio/TER2

    0.40%
  • Distribution Frequency

    Monthly

Morningstar™ Ratings3
as of 03/31/2021

Category Overall 3 Year 5 Year
Preferred Stock
4 stars of 53 funds
5 stars of 53 funds
3 stars of 45 funds

Key Points

  • High Income Potential
    Historically, a company's preferred securities have offered higher yield than its common stock and senior debt

  • Differentiated Exposure
    Index excludes traditional financial companies, which dominate broad-based indices, resulting in greater diversification without sacrificing yield

  • Low Expense Ratio
    PFXF's net expense ratio is 59% less than the mutual fund and ETF category average*

Yield
as of 05/06/21

  • 30-Day SEC Yield1

    5.16%
  • Distribution Yield1

    1.38%
  • 12-Month Yield1

    4.57%
 1See Important Disclosure for definitions.

Fees & Expenses2

  • Management Fee

    0.40%
  • Other Expenses

    --
  • Acquired Fund Fees and Expenses

    --
  • Gross Expense Ratio

    0.40%
  • Fee Waivers and
    Expense Reimbursement

    --
  • Net Expense Ratio/TER2

    0.40%
2Van Eck Associates Corporation (the “Adviser”) will pay all expenses of the Fund, except for the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses.

Trading Information

  • Fund Ticker

    PFXF
  • Index Total Return Ticker

    WHPSL
  • NAV

    PFXFNV
  • Intraday NAV (IIV)5

    PFXFIV
  • Shares Outstanding

    45,450,000
  • Estimated Cash

    PFXFEU
  • Total Cash

    PFXFTC
  • CUSIP

    92189F429
  • ISIN

    US92189F4292
5See IIV Details. Source: Bloomberg

Investment Professionals

  • Portfolio Manager and Head of Equity ETFs
  • Oversees the Equity ETF Investment Management Team including development and management of index replication and optimization strategies
  • Joined VanEck in 2005
  • CFA charterholder; member of the CFA Society New York
  • BA, Mathematics and Economics, New York University
  • Portfolio Manager and Analyst for Equity ETFs
  • Joined VanEck in 2007
  • Prior to his current role, held a portfolio administration position at VanEck
  • Previously, Portfolio Analyst at Evaluation Associates
  • BS, Business Administration (concentration in Financial Analysis), State University of New York at Buffalo
  • Analyst for Equity ETFs
  • Joined VanEck in 2018
  • Prior to joining VanEck, ETF Basket Operations Analyst at JPMorgan
  • BS, Finance, Providence College
  • Analyst for Equity ETFs
  • Joined VanEck in 2019
  • Prior to VanEck, Intermediate Representative, Exchange Traded Funds at BNY Mellon.
  • BS, Accounting, Hunter College

Prices as of 05/06/21

NAV/
Market 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
30-Day
Median
Bid Ask
Spread
NAV
Chart
PFXF $20.98
$21.00
210,040
142,807
$0.01 / +0.05%
$0.03 / +0.14%
+3.64%
+3.65%
$0.02
0.08%
0.05%

Premium/Discount History as of 05/06/21

Calendar Year 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Premium/Discount Charts NAV & Prem/Discount History
Days closed at a premium 138 17 46 34 20
PFXF Days closed at NAV 33 9 8 10 12
Days closed at a discount 82 37 10 20 29


Performance History: Average Annual Total Returns* (%)

1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
07/16/12
PFXF (NAV) 3.84 2.07 2.07 34.22 8.46 6.52 -- 6.26
PFXF (Share Price) 4.26 2.42 2.42 33.14 8.60 6.52 -- 6.31
WHPSL (Index) 3.88 1.50 1.50 34.36 8.75 6.53 -- 6.30
Performance Differential (NAV - Index) -0.04 0.57 0.57 -0.14 -0.29 -0.01 -- -0.04
1 MO 3 MO YTD 1 YR 3 YR 5 YR 10 YR LIFE
07/16/12
PFXF (NAV) 3.84 2.07 2.07 34.22 8.46 6.52 -- 6.26
PFXF (Share Price) 4.26 2.42 2.42 33.14 8.60 6.52 -- 6.31
WHPSL (Index) 3.88 1.50 1.50 34.36 8.75 6.53 -- 6.30
Performance Differential (NAV - Index) -0.04 0.57 0.57 -0.14 -0.29 -0.01 -- -0.04

Top 10 Holdings (%) as of 03/31/21 Daily Holdings

Total Holdings: 140
Swipe
to view
full data
Holding Name Maturity
Country
Currency
% of Net
Assets
ARCELORMITTAL SA
05/18/2023
Luxembourg
USD
3.32
NEXTERA ENERGY INC
03/01/2023
United States
USD
2.99
NEXTERA ENERGY INC
09/01/2023
United States
USD
2.39
AVANTOR INC
05/15/2022
United States
USD
2.26
PG&E CORP
08/16/2023
United States
USD
2.20
APTIV PLC
06/15/2023
Jersey
USD
2.19
AT&T INC
Perpetual
United States
USD
2.14
SOUTHERN CO/THE
08/01/2022
United States
USD
2.12
NEXTERA ENERGY INC
09/01/2022
United States
USD
2.08
BECTON DICKINSON AND CO
06/01/2023
United States
USD
1.95
Top 10 Total (%) 23.63

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

†See Country of Risk disclosure. These are not recommendations to buy or to sell any security. Securities and holdings may vary.

Country Weightings (%) as of 03/31/21

  • Country

    % of Net Assets
  • United States

    89.16
  • Luxembourg

    3.32
  • Canada

    3.12
  • Bermuda

    2.70
  • United Kingdom

    2.19
  • Other/Cash

    -0.49

Currency Exposure (%)
as of 03/31/21

  • U.S. Dollar

    100.49
  • Other/Cash

    -0.49

Sector Weightings (%) as of 03/31/21

  • Sector

    % of Net Assets
  • Electric Utilities & IPPs

    31.3
  • Residential & Commercial REITs

    17.5
  • Telecommunications Services

    9.4
  • Healthcare Equipment & Supplies

    5.5
  • Multiline Utilities

    5.3
  • Banking Services

    4.5
  • Automobiles & Auto Parts

    4.2
  • Food & Tobacco

    4.1
  • Oil & Gas Related Equipment and Srvices

    3.9
  • Metals & Mining

    3.3
  • Insurance

    2.8
  • Diversified Retail

    2.1
  • Machinery; Equipment & Components

    1.9
  • Professional & Commercial Services

    1.5
  • Software & IT Services

    0.8
  • Pharmaceuticals

    0.6
  • Water & Related Utilities

    0.5
  • Office Equipment

    0.5
  • Natural Gas Utilities

    0.4
  • Real Estate Operations

    0.3
  • Oil & Gas

    0.2
  • Other/Cash

    -0.5

Credit Quality (%) as of 03/31/21

Composite % of Net Assets
Investment Grade AAA 0.33
A 2.21
BBB 42.17
Non-Investment Grade BB 17.73
B 3.13
Total Investment Grade -- 44.70
Total Non-Investment Grade -- 20.85
Not Rated -- 34.93
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 03/31/21