PFFV


Variable Rate Preferred ETF

Reasons to Consider 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 10/1/21, per ETF.com (category: “Fixed Income: U.S. - Corporate, Preferred Floating Rate”)

Key Information As of 11/30/21

Inception Date 06/22/20
Total Expense Ratio 0.25%
Net Assets $89.22 million
NAV $27.28
Fact Sheet

ETF 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.

ETF 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.

Trading Details As of 11/30/21

Ticker PFFV
Bloomberg Index Ticker PFTF
CUSIP 37954Y376
ISIN US37954Y3760
Primary Exchange NYSE Arca
Shares Outstanding 3,270,000
Number of Holdings 78
30-Day Median Bid-Ask Spread 0.14%

Distributions As of 11/30/21

30-Day SEC Yield 5.52%
12-Month Trailing Yield 5.46%
Distribution Yield 5.37%
Distribution Frequency Monthly

ETF Prices As of 11/30/21

NAV $27.28 Daily Change -$0.17 -0.61%
Market Price $27.35 Daily Change -$0.10 -0.36%

Performance History

As of recent
(09/30/21)
As of recent
(09/30/21)
Fund NAV Market Price Index
1 Year 14.28% 13.79% 14.62%
Since Inception 15.66% 15.75% 15.98%
1 Year 13.98% 14.88% 14.30%
Since Inception 15.06% 15.27% 15.35%
Year-to-Date 6.03% 5.95% 6.25%
1 Month 0.18% -0.04% 0.18%
3 Months 0.32% 0.25% 0.37%
Since Inception 20.33% 20.46% 20.79%
Year-to-Date 6.57% 6.64% 6.80%
1 Month 0.51% 0.65% 0.52%
3 Months 0.58% 0.72% 0.65%
Since Inception 20.95% 21.24% 21.42%

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 11/30/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
4.58 WFC WFC 5.85 PERP BCD53N9 26.18 156,209 4,089,551.62
4.11 C C 6 7/8 PERP BG05028 27.10 135,400 3,669,340.00
3.38 GS GS 4 PERP B15CKS5 24.64 122,229 3,011,722.56
2.81 BAC BAC 6.45 12/15/66 BF2PL60 26.41 95,069 2,510,772.29
2.68 GS GS 5 1/2 PERP B96KM33 26.36 90,539 2,386,608.04
2.63 C C 7 1/8 PERP BDX8YP4 27.24 86,008 2,342,857.92
2.49 ATH ATH 6.35 PERP BK1MHD6 28.49 78,088 2,224,727.12
2.45 USB USB 3 1/2 PERP B125QN4 24.10 90,535 2,181,893.50
2.32 WFC WFC 6 5/8 PERP BH7Y8S7 27.18 76,051 2,067,066.18
2.23 MS MS 5.85 PERP BYYYY81 28.52 69,732 1,988,756.64
2.18 MS MS 6 3/8 PERP BQT2G00 27.84 69,731 1,941,311.04
2.13 MS MS 4 PERP B1802M4 24.78 76,681 1,900,155.18
2.04 STT STT 5.9 PERP BK4Z903 26.75 67,897 1,816,244.75
1.97 GS GS 6 3/8 PERP BLTV2N7 27.70 63,364 1,755,182.80
1.96 ET ET 7.6 PERP BNZGZ86 24.11 72,425 1,746,166.75
1.88 GS GS 3 3/4 PERP B07GC93 24.68 67,890 1,675,525.20
1.85 MS MS 7 1/8 PERP BF4YJ94 27.47 60,113 1,651,304.11
1.82 MS MS 6 7/8 PERP BH5QGM5 27.37 59,266 1,622,110.42
1.69 ATH ATH 6 3/8 PERP BMG0ZK2 27.79 54,300 1,508,997.00
1.66 WCC WCC 10 5/8 PERP BLFBXS3 30.31 48,917 1,482,674.27
1.60 ENBCN ENBCN 6 3/8 04/15/2078 BF5FN05 26.33 54,298 1,429,666.34
1.52 MET MET 4 PERP B0B87W3 24.90 54,295 1,351,945.50
1.50 KEY KEY 6 1/8 PERP BYQR0N5 29.53 45,269 1,336,793.57
1.46 NYCB NYCB 6 3/8 PERP BYVLYP2 27.88 46,624 1,299,877.12
1.45 AGNC AGNC 6 1/8 PERP BK8ZYQ0 24.84 52,029 1,292,400.36
1.41 RF RF 6 3/8 PERP BLZHDQ9 27.82 45,267 1,259,327.94
1.40 STT STT 5.35 PERP BYPK477 27.65 45,268 1,251,660.20
1.39 RF RF 5.7 PERP BJMXZX7 27.41 45,267 1,240,768.47
1.38 CHSINC CHSINC 6 3/4 PERP BQS2V39 27.61 44,588 1,231,074.68
1.37 NI NI 6 1/2 PERP BGYJZ76 26.92 45,266 1,218,560.72
1.35 USB USB 3 1/2 PERP B617Z40 925.25 1,301 1,203,750.25
1.32 ALL ALL 5.1 01/15/53 B87XV26 26.07 45,264 1,180,032.48
1.25 FITB FITB 6 5/8 PERP BH58353 27.33 40,735 1,113,287.55
1.18 CHSINC CHSINC 7.1 PERP BKJ9QV0 27.66 37,990 1,050,803.40
1.16 ESGR ESGR 7 PERP BFXXB52 28.51 36,203 1,032,147.53
1.15 RGA RGA 5 3/4 06/15/56 BYT3Q98 28.32 36,202 1,025,240.64
1.14 NLY NLY 6 3/4 PERP BK4QDZ9 25.37 40,053 1,016,144.61
1.09 ETP 7 5/8 PERP BNZGZ31 24.25 40,252 976,111.00
1.09 ET ET 7 3/8 PERP BNZGZ19 23.96 40,730 975,890.80
1.09 AEL AEL 5.95 PERP BL4Q3H8 26.80 36,201 970,186.80
1.07 NLY NLY 6 1/2 PERP BF4M2M2 24.92 38,463 958,497.96
1.05 BAC BAC 0.67088 PERP B1VN1F6 24.50 38,162 934,969.00
1.03 AGNC AGNC 6 1/2 PERP BK71BY6 25.31 36,430 922,043.30
1.02 NSUS NSUS 6.90488 01/15/43 B8S0HY0 24.89 36,428 906,692.92
0.98 AQNCN 6.2 07/01/79 PFD BFYWGC0 27.66 31,669 875,964.54
0.94 SNV SNV 5 7/8 PERP BKFHSG7 26.53 31,668 840,152.04
0.93 NRZ NRZ 6 3/8 PERP BLCF612 22.70 36,425 826,847.50
0.86 VOYA VOYA 5.35 PERP BJGS497 28.22 27,139 765,862.58
0.84 CIM CIM 8 PERP BYYPKL9 25.43 29,399 747,616.57
0.84 AEL AEL 6 5/8 PERP BMTD3B5 27.49 27,137 745,996.13
0.82 CFG CFG 6.35 PERP BGPFT82 26.88 27,137 729,442.56
0.81 WTFC WTFC 6 7/8 PERP BMTCNN4 27.87 26,013 724,982.31
0.80 BAC NEW YORK BAC 4 PERP B1GH4Y3 24.86 28,702 713,531.72
0.75 AHL AHL 5.95 PERP B94QMV1 26.93 24,856 669,372.08
0.75 TWO TWO 7 1/4 PERP BFNL297 25.02 26,686 667,683.72
0.74 IVR IVR 7 1/2 PERP BZ0CHS7 25.22 26,009 655,946.98
0.73 CASH 1.00 651,363 651,363.23
0.71 NRZ NRZ 7 1/8 PERP BHQZFQ8 24.81 25,530 633,399.30
0.71 BAC BAC 3 PERP B06H0T3 23.34 27,045 631,230.30
0.70 PBCT PBCT 5 5/8 PERP BYX8VH2 27.69 22,591 625,544.79
0.68 CIM CIM 7 3/4 PERP BGHCHV0 25.65 23,511 603,057.15
0.66 AL AL 6.15 PERP BJR4L26 26.08 22,589 589,121.12
0.66 MFA MFA 6 1/2 PERP BLHGG32 23.69 24,850 588,696.50
0.54 SPNT SPNT 8 PERP BMB63G7 27.27 17,672 481,915.44
0.52 CIM CIM 8 PERP BHRS1F7 25.50 18,055 460,402.50
0.47 NYMT NYMT 7 7/8 PERP BKVHQL2 25.29 16,723 422,924.67
0.44 NSUS NSUS 9 PERP BD1KJ79 25.12 15,588 391,570.56
0.40 ARGO ARGO 7 PERP BMVZ8X6 26.53 13,557 359,667.21
0.40 DCP DCP 7 7/8 PERP BDT8TJ7 24.63 14,570 358,859.10
0.40 TGH TGH 7 PERP BNNTBX4 26.85 13,317 357,561.45
0.40 ATLAS CORP - PREF BLH91H0 26.50 13,317 352,900.50
0.40 NYMT NYMT 8 PERP BF2FGW1 25.53 13,805 352,441.65
0.39 IVR IVR 7 3/4 PERP BQRNFJ7 25.09 14,000 351,260.00
0.31 NYMT NYMT 6 7/8 PERP BMC4Z64 24.79 11,080 274,673.20
0.30 ACR ACR 8 5/8 PERP BNKTVK4 25.78 10,400 268,112.00
0.27 DCP DCP 7.95 PERP BG0BNV6 24.72 9,759 241,242.48
0.26 FTAI FTAI 8 1/4 PERP BMFPG16 25.68 9,117 234,124.56
0.26 FTAI FTAI 8 1/4 PERP BK5W914 25.05 9,217 230,885.85
0.05 ALINFR ALINFR 8 7/8 PERP BLG5C10 4.00 10,544 42,176.00
Holdings are subject to change.

ETF Research

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.