PFFV


Variable Rate Preferred ETF

Fund Summary

The Global X Variable Rate Preferred ETF (PFFV) invests in a broad basket of U.S. variable rate preferred stocks, providing benchmark-like exposure to the asset class.

Fund Objective

The Global X Variable Rate Preferred ETF (PFFV) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the ICE U.S. Variable Rate Preferred Securities Index.

Why PFFV?

High Income Potential

PFFV invests in a broad basket of variable rate preferred stock in the U.S., an asset class that has historically offered high yield potential.

Low Expense Ratio

PFFV’s expense ratio is half the competitor average.1

Lower Duration Nature

Variable rate preferreds may offer lower duration profiles than fixed rate preferred issuances.

1Expense ratio was 50.0% lower than the competitor average net expense ratio as of 7/1/21, per ETF.com (category: “Fixed Income: U.S. - Corporate, Preferred Floating Rate”)

Fund Details As of 07/23/21

Key Facts

Ticker PFFV
Inception Date 06/22/20
CUSIP 37954Y376
ISIN US37954Y3760
Bloomberg Index Ticker PFTF
Primary Exchange NYSE Arca
Number of Holdings 82

Stats & Fees

Net Assets $40,488,873
Net Asset Value (NAV) $28.12
Shares Outstanding 1,440,000
Total Expense Ratio 0.25%

Distributions

30-Day SEC Yield 5.36%
12-Month Trailing Yield 5.32%
Distribution Yield 5.05%
Distribution Frequency Monthly

Fund Prices As of 07/23/21

NAV $28.12 Daily Change $0.02 0.07%
Market Price $28.17 Daily Change $0.05 0.19%
30-Day Median Bid-Ask Spread 0.32%

Performance History

As of recent month & quarter-end (06/30/21)
As of recent month & quarter-end (06/30/21)
Fund NAV Market Price Index
1 Year 22.46% 22.02% 22.86%
Since Inception 19.48% 19.68% 19.86%
1 Year 22.46% 22.02% 22.86%
Since Inception 19.48% 19.68% 19.86%
Year-to-Date 5.69% 5.69% 5.85%
1 Month 1.94% 1.97% 1.98%
3 Months 4.17% 3.94% 4.25%
Since Inception 19.95% 20.16% 20.33%
Year-to-Date 5.69% 5.69% 5.85%
1 Month 1.94% 1.97% 1.98%
3 Months 4.17% 3.94% 4.25%
Since Inception 19.95% 20.16% 20.33%

Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance of the Fund, when observed, is unusual and investors should not expect such performance to be repeated.

Top Holdings As of 07/23/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
4.34 WFC WFC 5.85 PERP BCD53N9 26.95 65,594 1,767,758.30
3.97 C C 6 7/8 PERP BG05028 28.48 56,839 1,618,774.72
3.16 GS GS 4 PERP B15CKS5 25.07 51,321 1,286,617.47
2.65 BAC BAC 6.45 12/15/66 BF2PL60 27.11 39,909 1,081,932.99
2.52 GS GS 5 1/2 PERP B96KM33 27.00 38,010 1,026,270.00
2.49 C C 7 1/8 PERP BDX8YP4 28.06 36,111 1,013,274.66
2.37 ATH ATH 6.35 PERP BK1MHD6 29.52 32,783 967,754.16
2.32 USB USB 3 1/2 PERP B125QN4 24.93 38,009 947,564.37
2.25 WFC WFC 6 5/8 PERP BH7Y8S7 28.71 31,926 916,595.46
2.17 MS MS 5.85 PERP BYYYY81 29.54 29,902 883,305.08
2.10 MS MS 6 3/8 PERP BQT2G00 28.57 29,901 854,271.57
2.02 MS MS 4 PERP B1802M4 25.03 32,893 823,311.79
2.00 STT STT 5.9 PERP BK4Z903 28.54 28,511 813,703.94
1.88 ET ET 7.6 PERP BNZGZ86 25.25 30,409 767,827.25
1.86 GS GS 6 3/8 PERP BLTV2N7 28.49 26,611 758,147.39
1.81 MS MS 7 1/8 PERP BF4YJ94 28.60 25,796 737,765.60
1.75 MS MS 6 7/8 PERP BH5QGM5 28.02 25,416 712,156.32
1.74 NLY NLY 6.95 PERP BD0B1Y4 25.98 27,367 710,994.66
1.70 GS GS 3 3/4 PERP B07GC93 24.31 28,508 693,029.48
1.58 ATH ATH 6 3/8 PERP BMG0ZK2 28.20 22,797 642,875.40
1.56 WCC WCC 10 5/8 PERP BLFBXS3 30.90 20,537 634,593.30
1.51 ENBCN ENBCN 6 3/8 04/15/78 BF5FN05 27.07 22,797 617,114.79
1.46 MET MET 4 PERP B0B87W3 26.06 22,796 594,063.76
1.41 NYCB NYCB 6 3/8 PERP BYVLYP2 29.32 19,569 573,763.08
1.40 STT STT 5.35 PERP BYPK477 30.08 18,998 571,459.84
1.39 KEY KEY 6 1/8 PERP BYQR0N5 29.85 18,999 567,120.15
1.38 RF RF 5.7 PERP BJMXZX7 29.58 18,998 561,960.84
1.35 RF RF 6 3/8 PERP BLZHDQ9 29.04 18,998 551,701.92
1.35 AGNC AGNC 6 1/8 PERP BK8ZYQ0 25.20 21,852 550,670.40
1.31 NI NI 6 1/2 PERP BGYJZ76 28.20 18,998 535,743.60
1.30 CHSINC CHSINC 6 3/4 PERP BQS2V39 28.38 18,712 531,046.56
1.30 USB USB 3 1/2 PERP B617Z40 962.00 549 528,138.00
1.26 ALL ALL 5.1 01/15/53 B87XV26 26.93 18,997 511,642.40
1.21 FITB FITB 6 5/8 PERP BH58353 28.95 17,098 494,987.10
1.11 CHSINC CHSINC 7.1 PERP BKJ9QV0 28.26 15,955 450,888.30
1.10 ESGR ESGR 7 PERP BFXXB52 29.59 15,198 449,708.82
1.08 NLY NLY 6 3/4 PERP BK4QDZ9 26.23 16,811 440,895.37
1.08 RGA RGA 5 3/4 06/15/56 BYT3Q98 28.99 15,198 440,590.02
1.06 ET ET 7 3/8 PERP BNZGZ19 25.17 17,095 430,281.15
1.05 ETP 7 5/8 PERP BNZGZ31 25.37 16,909 428,983.02
1.04 AEL AEL 5.95 PERP BL4Q3H8 27.91 15,197 424,136.11
1.02 NLY NLY 6 1/2 PERP BF4M2M2 25.82 16,138 416,683.16
1.00 BAC BAC 4 PERP B1VN1F6 25.50 16,024 408,612.00
0.99 RGA RGA 6.2 09/15/42 B711QX5 26.60 15,197 404,240.20
0.96 AGNC AGNC 6 1/2 PERP BK71BY6 25.70 15,295 393,081.50
0.96 NSUS NSUS 6.86013 01/15/43 B8S0HY0 25.45 15,295 389,257.75
0.92 AQNCN 6.2 07/01/79 PFD BFYWGC0 28.14 13,297 374,111.10
0.91 SNV SNV 5 7/8 PERP BKFHSG7 27.74 13,297 368,858.78
0.87 NRZ NRZ 6 3/8 PERP BLCF612 23.15 15,294 354,056.10
0.83 VOYA VOYA 5.35 PERP BJGS497 29.75 11,398 339,090.50
0.81 CFG CFG 6.35 PERP BGPFT82 28.78 11,397 328,005.66
0.79 CIM CIM 8 PERP BYYPKL9 26.02 12,339 321,060.78
0.78 AGNC AGNC 7 PERP BDH3TH2 25.91 12,340 319,729.40
0.78 AEL AEL 6 5/8 PERP BMTD3B5 27.84 11,397 317,292.48
0.76 WTFC WTFC 6 7/8 PERP BMTCNN4 28.40 10,913 309,929.20
0.76 BAC NEW YORK BAC 4 PERP B1GH4Y3 25.72 12,046 309,848.42
0.70 AHL AHL 5.95 PERP B94QMV1 27.51 10,440 287,204.40
0.69 TWO TWO 7 5/8 PERP BYZBR93 25.64 10,911 279,758.04
0.69 TWO TWO 7 1/4 PERP BFNL297 24.95 11,196 279,298.77
0.68 PBCT PBCT 5 5/8 PERP BYX8VH2 29.38 9,497 279,021.86
0.68 TVA TVA 2.134 06/01/28 2612674 26.59 10,405 276,667.91
0.68 IVR IVR 7 1/2 PERP BZ0CHS7 25.25 10,910 275,422.95
0.66 NRZ NRZ 7 1/8 PERP BHQZFQ8 24.94 10,725 267,481.50
0.65 BAC BAC 3 PERP B06H0T3 23.22 11,346 263,454.12
0.64 AL AL 6.15 PERP BJR4L26 27.42 9,497 260,407.74
0.62 CIM CIM 7 3/4 PERP BGHCHV0 25.75 9,868 254,093.11
0.60 AEGON AEGON 4 PERP B0VR708 25.71 9,496 244,142.16
0.60 MFA MFA 6 1/2 PERP BLHGG32 23.30 10,438 243,205.40
0.56 AGNC AGNC 6 7/8 PERP BJBT6K0 25.70 8,925 229,372.50
0.49 CIM CIM 8 PERP BHRS1F7 26.07 7,583 197,699.43
0.44 NYMT NYMT 7 7/8 PERP BKVHQL2 25.38 7,035 178,548.30
0.42 NGL NGL 9 PERP BYSX804 14.20 11,941 169,562.20
0.41 NSUS NSUS 9 PERP BD1KJ79 25.50 6,539 166,745.15
0.38 ARGO ARGO 7 PERP BMVZ8X6 27.31 5,684 155,230.04
0.38 DCP DCP 7 7/8 PERP BDT8TJ7 25.12 6,110 153,487.48
0.38 CASH 1.00 153,172 153,172.07
0.37 NRZ NRZ 7 1/2 PERP BJHNY35 25.28 5,890 148,899.20
0.36 NYMT NYMT 8 PERP BF2FGW1 25.36 5,803 147,164.08
0.36 IVR IVR 7 3/4 PERP BQRNFJ7 25.00 5,881 147,025.00
0.31 HTLF HTLF 7 PERP BK80XZ7 28.57 4,355 124,422.35
0.28 ACR ACR 8 5/8 PERP BNKTVK4 25.20 4,540 114,385.30
0.27 FTAI FTAI 8 1/4 PERP BMFPG16 27.29 3,983 108,696.07
0.24 FTAI FTAI 8 1/4 PERP BK5W914 26.09 3,764 98,202.76
Holdings are subject to change.


Investing involves risk, including the possible loss of principal. Preferred stock is subject to many of the risks associated with debt securities, including interest rate risk. In addition, preferred stock may not pay a dividend, an issuer may suspend payment of dividends on preferred stock at any time, and in certain situations, an issuer may call or redeem its preferred stock or convert it to common stock. High yielding stocks are often speculative, high-risk investments. These companies can be paying out more than they can support and may reduce their dividends or stop paying dividends at any time, which could have a material adverse effect on the stock price of these companies and the Fund’s performance.

Variable and Floating Rate Securities may have limits on the maximum increases in coupon rates and may lag behind changes in market rates. A downward adjustment in coupon rates may decrease the Fund’s income as a result of its investment in variable or floating rate securities. Performance of companies in the Financials sector may be adversely impacted by many factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in credit markets. PFFV is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Since the Fund’s shares did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares, the NAV of the Fund is used to calculate market returns.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by ICE, nor does ICE make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with ICE.