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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 08/26/16

    • 30-Day SEC Yield1

      5.77%
    • Total Net Assets

      $450.2M
    • Number of Holdings

      109
    • Options

      Expected
    • Gross Expense Ratio2

      0.47%
    • Net Expense Ratio/TER2

      0.40%
    • Distribution Frequency

      Monthly
    • Next Distribution Date

      08/31/2016
  • Index Key Points

    The Wells Fargo ® Hybrid and Preferred Securities ex Financials Index (WHPSL):

    WHPSL is a rules-based index designed to track the performance of convertible or exchangeable and non-convertible preferred securities, issued by U.S. or foreign issuers that are not financial services companies or banks and that are listed on U.S. national securities exchanges.

    Security Eligibility Requirements:  

    • Must maintain minimum par value of $250 million outstanding or a minimum of 10 million shares outstanding.
    • Must  be U.S. dollar denominated.
    • Must have minimum monthly trading volume on its primary listing exchange during each of the last six months of at least 250,000 trading units.

    Index Provider: Wells Fargo Securities, LLC

  • Index Profile

    • Ticker

      WHPSL
    • Inception Date

      01/03/2012
    • Rebalance Frequency

      Monthly
  • Download All Index ConstituentsTop 10 Constituents (%)as of 07/31/16

    Total Constituents: 79
    Constituent Name
    Coupon
    MaturityWeighting (%)
    Frontier Communications
    0.000
    06/29/2018
    3.37
    Kinder Morgan Inc/Delawa
    0.000
    01/01/1900
    2.76
    T-Mobile Us Inc
    0.000
    12/15/2017
    2.76
    American Tower Corp
    0.000
    02/15/2018
    2.69
    American Realty Cap Prop
    6.700
    01/01/1900
    2.05
    Exelon Corp
    0.000
    06/01/2017
    2.04
    Southwestern Energy Co
    0.000
    01/15/2018
    2.03
    Southern Co
    0.000
    01/01/1900
    1.98
    Tyson Foods Inc
    0.000
    07/15/2017
    1.97
    Anthem Inc
    5.250
    05/01/2018
    1.97
    Top 10 Total (%)23.62
    These are not recommendations to buy or to sell any security. Securities and holdings may vary.
  • Index Country Weightings (%) as of 07/31/16

    • Country

      % of Net Assets
    • UNITED STATES

      98.35
    • OTHERS

      0.00
  • Sector Weightings (%) as of 07/31/16

    • Sector

      % of Net Assets
    • REITS

      29.4
    • Electric

      22.5
    • Telecommunications

      16.5
    • Agriculture

      4.7
    • Miscellaneous Manufactur

      4.1
    • Pipelines

      3.5
    • Insurance

      3.4
    • Oil&Gas

      3.4
    • Food

      2.0
    • Healthcare-Services

      2.0
    • OTHERS

      6.9
  • Index Credit Quality (%) as of 07/31/16

    Composite % of Net Assets
    Investment Grade AA 4.61
    A 1.98
    BBB 43.41
    Non-Investment Grade BB 11.79
    B 1.66
    CCC 0.57
    Total Investment Grade -- 50.00
    Total Non-Investment Grade -- 14.03
    Not Rated -- 35.97
    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 07/31/16

    Average Maturity: -- Years