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 07/28/21

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 $41,008,646
Net Asset Value (NAV) $28.09
Shares Outstanding 1,460,000
Total Expense Ratio 0.25%

Distributions

30-Day SEC Yield 5.36%
12-Month Trailing Yield 5.33%
Distribution Yield 5.05%
Distribution Frequency Monthly

Fund Prices As of 07/28/21

NAV $28.09 Daily Change $0.00 0.00%
Market Price $28.10 Daily Change $0.01 0.04%
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 07/28/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
4.36 WFC WFC 5.85 PERP BCD53N9 27.05 66,500 1,798,825.00
3.95 C C 6 7/8 PERP BG05028 28.30 57,623 1,630,730.90
3.16 GS GS 4 PERP B15CKS5 25.09 52,029 1,305,407.61
2.66 BAC BAC 6.45 12/15/66 BF2PL60 27.19 40,459 1,099,877.92
2.49 GS GS 5 1/2 PERP B96KM33 26.71 38,534 1,029,243.14
2.48 C C 7 1/8 PERP BDX8YP4 27.94 36,609 1,022,855.46
2.38 ATH ATH 6.35 PERP BK1MHD6 29.61 33,235 984,088.35
2.33 USB USB 3 1/2 PERP B125QN4 24.98 38,533 962,531.22
2.26 WFC WFC 6 5/8 PERP BH7Y8S7 28.78 32,366 931,493.48
2.16 MS MS 5.85 PERP BYYYY81 29.35 30,318 889,833.30
2.09 MS MS 6 3/8 PERP BQT2G00 28.41 30,317 861,305.97
2.03 MS MS 4 PERP B1802M4 25.12 33,351 837,777.12
1.99 STT STT 5.9 PERP BK4Z903 28.42 28,905 821,480.10
1.88 ET ET 7.6 PERP BNZGZ86 25.15 30,829 775,349.35
1.86 GS GS 6 3/8 PERP BLTV2N7 28.42 26,979 766,743.18
1.81 MS MS 7 1/8 PERP BF4YJ94 28.57 26,156 747,276.92
1.75 MS MS 6 7/8 PERP BH5QGM5 28.04 25,770 722,590.80
1.74 NLY NLY 6.95 PERP BD0B1Y4 25.91 27,745 718,872.95
1.71 GS GS 3 3/4 PERP B07GC93 24.47 28,902 707,231.94
1.60 ATH ATH 6 3/8 PERP BMG0ZK2 28.59 23,111 660,743.49
1.56 WCC WCC 10 5/8 PERP BLFBXS3 31.00 20,821 645,451.00
1.51 ENBCN ENBCN 6 3/8 04/15/78 BF5FN05 26.97 23,111 623,232.03
1.45 MET MET 4 PERP B0B87W3 25.94 23,110 599,473.40
1.41 NYCB NYCB 6 3/8 PERP BYVLYP2 29.37 19,839 582,671.43
1.40 STT STT 5.35 PERP BYPK477 30.03 19,260 578,377.80
1.38 KEY KEY 6 1/8 PERP BYQR0N5 29.65 19,261 571,088.65
1.37 RF RF 5.7 PERP BJMXZX7 29.40 19,260 566,244.00
1.35 AGNC AGNC 6 1/8 PERP BK8ZYQ0 25.19 22,154 558,059.26
1.34 RF RF 6 3/8 PERP BLZHDQ9 28.75 19,260 553,725.00
1.31 NI NI 6 1/2 PERP BGYJZ76 28.11 19,260 541,398.60
1.30 USB USB 3 1/2 PERP B617Z40 964.50 557 537,226.50
1.30 CHSINC CHSINC 6 3/4 PERP BQS2V39 28.18 18,970 534,574.60
1.25 ALL ALL 5.1 01/15/53 B87XV26 26.89 19,259 517,805.18
1.20 FITB FITB 6 5/8 PERP BH58353 28.67 17,334 496,965.78
1.11 CHSINC CHSINC 7.1 PERP BKJ9QV0 28.33 16,175 458,237.75
1.10 ESGR ESGR 7 PERP BFXXB52 29.52 15,408 454,844.16
1.08 RGA RGA 5 3/4 06/15/56 BYT3Q98 29.00 15,408 446,832.00
1.08 NLY NLY 6 3/4 PERP BK4QDZ9 26.21 17,043 446,697.03
1.05 ETP 7 5/8 PERP BNZGZ31 25.34 17,143 434,403.62
1.05 ET ET 7 3/8 PERP BNZGZ19 25.02 17,331 433,621.62
1.04 AEL AEL 5.95 PERP BL4Q3H8 27.97 15,407 430,933.79
1.03 NLY NLY 6 1/2 PERP BF4M2M2 25.87 16,360 423,233.20
0.99 BAC BAC 4 PERP B1VN1F6 25.23 16,246 409,958.71
0.99 RGA RGA 6.2 09/15/42 B711QX5 26.60 15,407 409,901.69
0.96 AGNC AGNC 6 1/2 PERP BK71BY6 25.61 15,507 397,134.27
0.95 NSUS NSUS 6.86013 01/15/43 B8S0HY0 25.31 15,507 392,482.17
0.92 AQNCN 6.2 07/01/79 PFD BFYWGC0 28.05 13,481 378,142.05
0.91 SNV SNV 5 7/8 PERP BKFHSG7 27.74 13,481 373,962.94
0.88 NRZ NRZ 6 3/8 PERP BLCF612 23.48 15,506 364,003.35
0.84 VOYA VOYA 5.35 PERP BJGS497 29.83 11,556 344,715.48
0.81 CFG CFG 6.35 PERP BGPFT82 28.80 11,555 332,784.00
0.79 CIM CIM 8 PERP BYYPKL9 26.20 12,509 327,735.80
0.79 AGNC AGNC 7 PERP BDH3TH2 25.99 12,510 325,134.90
0.78 AEL AEL 6 5/8 PERP BMTD3B5 27.83 11,555 321,632.27
0.77 WTFC WTFC 6 7/8 PERP BMTCNN4 28.70 11,063 317,508.10
0.75 BAC NEW YORK BAC 4 PERP B1GH4Y3 25.40 12,212 310,239.02
0.71 AHL AHL 5.95 PERP B94QMV1 27.51 10,584 291,165.84
0.69 TWO TWO 7 1/4 PERP BFNL297 24.95 11,350 283,182.50
0.69 TWO TWO 7 5/8 PERP BYZBR93 25.58 11,061 282,940.38
0.68 IVR IVR 7 1/2 PERP BZ0CHS7 25.24 11,060 279,154.40
0.67 PBCT PBCT 5 5/8 PERP BYX8VH2 28.90 9,629 278,278.10
0.67 TVA TVA 2.134 06/01/28 2612674 26.34 10,549 277,860.66
0.66 NRZ NRZ 7 1/8 PERP BHQZFQ8 25.14 10,873 273,347.22
0.65 BAC BAC 3 PERP B06H0T3 23.29 11,502 267,881.58
0.64 AL AL 6.15 PERP BJR4L26 27.29 9,629 262,775.41
0.63 CIM CIM 7 3/4 PERP BGHCHV0 25.91 10,004 259,203.64
0.60 AEGON AEGON 4 PERP B0VR708 25.76 9,628 247,969.14
0.60 MFA MFA 6 1/2 PERP BLHGG32 23.37 10,582 247,301.34
0.57 AGNC AGNC 6 7/8 PERP BJBT6K0 25.78 9,049 233,283.22
0.49 CIM CIM 8 PERP BHRS1F7 26.20 7,687 201,399.40
0.44 NYMT NYMT 7 7/8 PERP BKVHQL2 25.31 7,133 180,536.23
0.41 NSUS NSUS 9 PERP BD1KJ79 25.68 6,629 170,232.72
0.41 NGL NGL 9 PERP BYSX804 13.96 12,107 168,953.19
0.39 CASH 1.00 159,712 159,711.94
0.38 ARGO ARGO 7 PERP BMVZ8X6 27.35 5,762 157,590.70
0.38 DCP DCP 7 7/8 PERP BDT8TJ7 24.99 6,194 154,788.06
0.37 NRZ NRZ 7 1/2 PERP BJHNY35 25.41 5,972 151,748.52
0.36 NYMT NYMT 8 PERP BF2FGW1 25.45 5,883 149,722.35
0.36 IVR IVR 7 3/4 PERP BQRNFJ7 25.02 5,963 149,194.26
0.30 HTLF HTLF 7 PERP BK80XZ7 28.33 4,415 125,076.95
0.28 ACR ACR 8 5/8 PERP BNKTVK4 25.15 4,602 115,740.30
0.26 FTAI FTAI 8 1/4 PERP BMFPG16 26.65 4,039 107,639.35
0.24 FTAI FTAI 8 1/4 PERP BK5W914 25.71 3,818 98,160.78
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.