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.^

Lower Duration Nature

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

^Expense ratio was 50.0% lower than the competitor average net expense ratio as of 4/1/21, per ETF.com (category: “Fixed Income: U.S. - Corporate, Preferred Floating Rate”)

Fund Details As of 04/15/21

Key Facts

Ticker PFFV
Inception Date 06/22/20
CUSIP 37954Y376
ISIN US37954Y3760
Bloomberg Index Ticker PFTF
Primary Exchange NYSE Arca
Number of Holdings 95

Stats & Fees

Net Assets $16,117,617
Net Asset Value (NAV) $27.79
Shares Outstanding 580,000
Total Expense Ratio 0.25%

Distributions

30-Day SEC Yield 5.18%
Distribution Frequency Monthly

Fund Prices As of 04/15/21

NAV $27.79 Daily Change $0.11 0.39%
Market Price $27.79 Daily Change $0.06 0.20%
30-Day Median Bid-Ask Spread 0.33%

Performance History

As of recent month & quarter-end (03/31/21)
Fund NAV Market Price Index
Year-to-Date 1.46% 1.68% 1.53%
1 Month 3.34% 3.71% 3.36%
3 Months 1.46% 1.68% 1.53%
Since Inception 15.14% 15.60% 15.43%
Year-to-Date 1.46% 1.68% 1.53%
1 Month 3.34% 3.71% 3.36%
3 Months 1.46% 1.68% 1.53%
Since Inception 15.14% 15.60% 15.43%

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 04/16/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
3.91 WFC WFC 5.85 PERP BCD53N9 26.92 23,378 629,335.76
3.54 C C 6 7/8 PERP BG05028 28.11 20,254 569,339.94
3.34 PNC PNC 6 1/8 PERP B7Y1SH0 26.43 20,317 536,978.31
2.82 GS GS 4 PERP B15CKS5 24.80 18,270 453,096.00
2.39 BAC BAC 6.45 12/15/66 BF2PL60 27.10 14,197 384,738.70
2.33 GS GS 5 1/2 PERP B96KM33 27.67 13,520 374,098.40
2.24 C C 7 1/8 PERP BDX8YP4 28.10 12,842 360,860.20
2.11 MS MS 5.85 PERP BYYYY81 28.80 11,801 339,868.80
2.09 MS MS 6 3/8 PERP BQT2G00 28.55 11,800 336,890.00
2.06 ATH ATH 6.35 PERP BK1MHD6 28.45 11,662 331,783.90
2.05 USB USB 3 1/2 PERP B125QN4 24.42 13,511 329,938.62
2.03 WFC WFC 6 5/8 PERP BH7Y8S7 28.79 11,348 326,708.92
2.01 MS MS 4 PERP B1802M4 24.94 12,977 323,646.38
1.81 MS MS 7 1/8 PERP BF4YJ94 28.68 10,170 291,675.60
1.79 STT STT 5.9 PERP BK4Z903 28.39 10,123 287,391.97
1.75 MS MS 6 7/8 PERP BH5QGM5 28.09 10,018 281,405.62
1.72 GS GS 6 3/8 PERP BLTV2N7 29.02 9,561 277,460.22
1.71 ET ET 7.6 PERP BNZGZ86 25.18 10,931 275,242.58
1.55 GS GS 3 3/4 PERP B07GC93 24.41 10,239 249,933.99
1.55 NLY NLY 6.95 PERP BD0B1Y4 25.38 9,833 249,561.54
1.44 ATH ATH 6 3/8 PERP BMG0ZK2 28.29 8,197 231,893.13
1.43 WCC WCC 10 5/8 PERP BLFBXS3 31.05 7,384 229,273.20
1.38 HIG HIG 7 7/8 04/15/42 B5T5F94 27.06 8,197 221,810.82
1.37 ENBCN ENBCN 6 3/8 04/15/78 BF5FN05 26.79 8,197 219,597.63
1.31 MET MET 4 PERP B0B87W3 25.64 8,198 210,196.72
1.30 KEY KEY 6 1/8 PERP BYQR0N5 30.65 6,830 209,339.50
1.25 STT STT 5.35 PERP BYPK477 29.45 6,829 201,114.05
1.23 RF RF 6 3/8 PERP BLZHDQ9 28.87 6,830 197,182.10
1.21 NYCB NYCB 6 3/8 PERP BYVLYP2 27.56 7,037 193,939.72
1.18 RF RF 5.7 PERP BJMXZX7 27.75 6,829 189,504.75
1.18 CHSINC CHSINC 6 3/4 PERP BQS2V39 28.12 6,729 189,219.48
1.17 NI NI 6 1/2 PERP BGYJZ76 27.47 6,829 187,592.63
1.16 AGNC AGNC 6 1/8 PERP BK8ZYQ0 23.77 7,860 186,832.20
1.14 ALL ALL 5.1 01/15/53 B87XV26 26.78 6,830 182,907.40
1.13 USB USB 3 1/2 PERP B617Z40 942.50 192 180,960.00
1.09 FITB FITB 6 5/8 PERP BH58353 28.42 6,149 174,754.58
0.99 CHSINC CHSINC 7.1 PERP BKJ9QV0 27.85 5,742 159,914.70
0.99 ESGR ESGR 7 PERP BFXXB52 29.10 5,465 159,031.50
0.98 NLY NLY 6 3/4 PERP BK4QDZ9 26.00 6,046 157,196.00
0.96 RGA RGA 5 3/4 06/15/56 BYT3Q98 28.30 5,465 154,659.50
0.94 ETP 7 5/8 PERP BNZGZ31 24.96 6,080 151,756.80
0.94 ET ET 7 3/8 PERP BNZGZ19 24.57 6,151 151,130.07
0.91 BAC BAC 4 PERP B1VN1F6 25.43 5,762 146,527.66
0.91 AEL AEL 5.95 PERP BL4Q3H8 26.71 5,466 145,996.86
0.91 NLY NLY 6 1/2 PERP BF4M2M2 25.10 5,810 145,831.00
0.90 RGA RGA 6.2 09/15/42 B711QX5 26.51 5,465 144,877.15
0.85 AGNC AGNC 6 1/2 PERP BK71BY6 24.85 5,499 136,650.15
0.84 NSUS NSUS 6.92375 01/15/43 B8S0HY0 24.62 5,500 135,410.00
0.83 AQNCN 6.2 07/01/79 PFD BFYWGC0 27.95 4,781 133,628.95
0.79 SNV SNV 5 7/8 PERP BKFHSG7 26.73 4,781 127,796.13
0.78 NRZ NRZ 6 3/8 PERP BLCF612 22.80 5,500 125,400.00
0.72 CFG CFG 6.35 PERP BGPFT82 28.25 4,104 115,938.00
0.72 VOYA VOYA 5.35 PERP BJGS497 28.24 4,104 115,896.96
0.71 AGNC AGNC 7 PERP BDH3TH2 25.63 4,443 113,874.09
0.70 AEL AEL 6 5/8 PERP BMTD3B5 27.50 4,104 112,860.00
0.69 CIM CIM 8 PERP BYYPKL9 25.05 4,444 111,322.20
0.69 NSUS NSUS 7 5/8 PERP BF0XV77 21.11 5,267 111,186.37
0.69 BAC NEW YORK BAC 4 PERP B1GH4Y3 25.44 4,339 110,384.16
0.68 WTFC WTFC 6 7/8 PERP BMTCNN4 27.70 3,932 108,916.40
0.68 AQNCN AQNCN 6 7/8 10/17/78 BG0V242 27.64 3,932 108,680.48
0.64 AHL AHL 5.95 PERP B94QMV1 27.25 3,763 102,541.75
0.62 TWO TWO 7 5/8 PERP BYZBR93 25.45 3,933 100,094.85
0.62 TWO TWO 7 1/4 PERP BFNL297 24.70 4,037 99,713.90
0.60 TVA TVA 2.134 06/01/28 2612674 26.32 3,641 95,831.12
0.59 PBCT PBCT 5 5/8 PERP BYX8VH2 27.84 3,424 95,324.16
0.59 IVR IVR 7 1/2 PERP BZ0CHS7 24.08 3,933 94,706.64
0.59 NRZ NRZ 7 1/8 PERP BHQZFQ8 24.45 3,865 94,499.25
0.56 AL AL 6.15 PERP BJR4L26 26.36 3,424 90,256.64
0.56 BAC BAC 3 PERP B06H0T3 21.92 4,088 89,608.96
0.54 MFA MFA 6 1/2 PERP BLHGG32 23.38 3,743 87,511.34
0.54 CIM CIM 7 3/4 PERP BGHCHV0 24.45 3,555 86,919.75
0.54 AEGON AEGON 4 PERP B0VR708 25.37 3,418 86,714.66
0.52 TVA TVA 2.216 05/01/29 2520249 26.24 3,183 83,521.92
0.52 AGNC AGNC 6 7/8 PERP BJBT6K0 25.79 3,216 82,940.64
0.45 SNV SNV 6.3 PERP BG1FRQ0 26.45 2,740 72,473.00
0.45 BAC BAC 4 PERP B0PR2S7 25.82 2,774 71,624.68
0.43 PMT PMT 8 PERP BF5GLS2 26.03 2,655 69,109.65
0.43 GS GS 4 PERP B0N0V47 25.18 2,740 68,993.20
0.42 CIM CIM 8 PERP BHRS1F7 24.84 2,741 68,086.44
0.38 TGP TGP 8 1/2 PERP BF4VQJ4 26.75 2,307 61,712.25
0.38 NYMT NYMT 7 7/8 PERP BKVHQL2 24.20 2,534 61,322.80
0.38 TFC TFC 4 PERP BKMF2F1 26.16 2,310 60,429.60
0.37 NGL NGL 9 PERP BYSX804 14.05 4,273 60,035.65
0.36 NSUS NSUS 9 PERP BD1KJ79 24.75 2,340 57,915.00
0.35 ARGO ARGO 7 PERP BMVZ8X6 27.35 2,037 55,711.95
0.34 ATLAS CORP - PREF BLH91H0 27.00 2,037 54,999.00
0.33 DCP DCP 7 7/8 PERP BDT8TJ7 24.30 2,189 53,192.70
0.33 NRZ NRZ 7 1/2 PERP BJHNY35 25.22 2,106 53,113.32
0.32 TWO TWO 8 1/8 PERP BYXYWC2 26.05 1,951 50,823.55
0.28 MBIN MBIN 6 PERP BK9W8H9 26.15 1,694 44,298.10
0.27 HTLF HTLF 7 PERP BK80XZ7 27.94 1,563 43,670.22
0.26 CASH 1.00 42,028 42,028.49
0.26 FTAI FTAI 8 PERP BL4PTS8 25.96 1,594 41,380.24
0.24 ALINFR ALINFR 8 7/8 PERP BLG5C10 23.25 1,625 37,781.25
0.22 CODI CODI 7 7/8 PERP BYWSZQ0 26.08 1,356 35,364.48
0.22 FTAI FTAI 8 1/4 PERP BK5W914 25.94 1,340 34,759.60
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.