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 4/1/22, per ETF.com (category: “Fixed Income: U.S. Corporate, Preferred Floating Rate”)

Key Information As of 05/26/22

Inception Date 06/22/20
Total Expense Ratio 0.25%
Net Assets $163.66 million
NAV $24.61
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 05/26/22

Ticker PFFV
Bloomberg Index Ticker PFTF
CUSIP 37954Y376
ISIN US37954Y3760
Primary Exchange NYSE Arca
Shares Outstanding 6,650,000
Number of Holdings 74
30-Day Median Bid-Ask Spread 0.32%

Distributions As of 05/26/22

30-Day SEC Yield 6.00%
12-Month Trailing Yield 6.11%
Distribution Yield 5.98%
Distribution Frequency Monthly

ETF Prices As of 05/26/22

NAV $24.61 Daily Change $0.19 0.79%
Market Price $24.67 Daily Change $0.18 0.73%

Performance History

As of recent
(03/31/22)
As of recent
(03/31/22)
Fund NAV Market Price Index
1 Year -0.86% -0.73% -0.58%
Since Inception 7.76% 8.08% 8.07%
1 Year -3.72% -4.03% -3.47%
Since Inception 6.12% 6.23% 6.44%
Year-to-Date -5.63% -5.09% -5.53%
1 Month -0.36% -0.13% -0.29%
3 Months -5.63% -5.09% -5.53%
Since Inception 14.15% 14.76% 14.75%
Year-to-Date -7.69% -7.48% -7.58%
1 Month -2.18% -2.52% -2.17%
3 Months -4.88% -4.83% -4.79%
Since Inception 11.66% 11.87% 12.26%

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 05/26/22

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
4.74 WFC WFC 5.85 PERP BCD53N9 23.79 328,851 7,824,802.37
4.46 C C 6 7/8 PERP BG05028 25.85 285,042 7,368,335.70
3.01 BAC BAC 6.45 12/15/66 BF2PL60 25.79 192,635 4,967,748.43
2.90 GS GS 4 PERP B15CKS5 18.66 256,701 4,790,040.66
2.87 C C 7 1/8 PERP BDX8YP4 26.18 181,167 4,742,952.06
2.80 GS GS 5 1/2 PERP B96KM33 24.27 190,681 4,627,827.87
2.57 ATH ATH 6.35 PERP BK1MHD6 25.76 164,978 4,249,833.28
2.49 WFC WFC 6 5/8 PERP BH7Y8S7 25.68 160,224 4,113,901.81
2.32 USB USB 3 1/2 PERP B125QN4 20.05 191,272 3,835,003.60
2.27 MS MS 6 3/8 PERP BQT2G00 25.68 145,832 3,744,965.76
2.26 MS MS 5.85 PERP BYYYY81 25.62 145,835 3,736,292.70
2.24 ET ET 7.6 PERP BNZGZ86 24.20 152,588 3,691,973.47
2.12 STT STT 5.9 PERP BK4Z903 24.36 143,483 3,495,432.41
2.09 GS GS 6 3/8 PERP BLTV2N7 25.79 133,528 3,443,687.12
2.02 MS MS 7 1/8 PERP BF4YJ94 26.48 125,854 3,332,613.92
1.95 MS MS 6 7/8 PERP BH5QGM5 26.00 124,021 3,224,546.00
1.94 MS MS 4 PERP B1802M4 19.95 160,455 3,201,077.25
1.78 ATH ATH 6 3/8 PERP BMG0ZK2 25.66 114,787 2,945,434.42
1.74 WCC WCC 10 5/8 PERP BLFBXS3 27.78 103,368 2,871,563.04
1.62 GS GS 3 3/4 PERP B07GC93 18.79 142,647 2,680,337.13
1.55 NYCB NYCB 6 3/8 PERP BYVLYP2 26.01 98,563 2,563,623.63
1.51 CHSINC CHSINC 6 3/4 PERP BQS2V39 26.44 94,211 2,490,938.84
1.50 RF RF 6 3/8 PERP BLZHDQ9 25.89 95,710 2,477,931.90
1.49 NI NI 6 1/2 PERP BGYJZ76 25.77 95,708 2,466,395.16
1.48 KEY KEY 6 1/8 PERP BYQR0N5 25.48 95,706 2,438,319.66
1.47 MET MET 4 PERP B0B87W3 21.11 114,802 2,423,980.40
1.44 STT STT 5.35 PERP BYPK477 24.89 95,710 2,381,810.35
1.44 AGNC AGNC 6 1/8 PERP BK8ZYQ0 21.65 109,721 2,375,459.65
1.35 RF RF 5.7 PERP BJMXZX7 23.31 95,713 2,231,070.03
1.34 FITB FITB 6 5/8 PERP BH58353 25.68 86,101 2,211,073.68
1.29 CHSINC CHSINC 7.1 PERP BKJ9QV0 26.41 80,410 2,123,628.10
1.26 NRZ NRZ 7 PERP BMHVDC2 23.31 89,028 2,075,242.68
1.22 NLY NLY 6 3/4 PERP BK4QDZ9 23.85 84,683 2,019,689.55
1.20 ET ET 7 5/8 PERP BNZGZ31 23.32 84,939 1,980,777.48
1.18 RGA RGA 5 3/4 06/15/56 BYT3Q98 25.52 76,335 1,948,069.20
1.16 ESGR ESGR 7 PERP BFXXB52 25.10 76,566 1,921,806.60
1.15 NSUS NSUS 7.77829 01/15/43 B8S0HY0 24.70 77,069 1,903,604.30
1.15 ET ET 7 3/8 PERP BNZGZ19 22.04 86,108 1,897,820.32
1.13 AEL AEL 5.95 PERP BL4Q3H8 24.45 76,342 1,866,561.90
1.05 AGNC AGNC 6 1/2 PERP BK71BY6 22.49 76,849 1,728,334.01
1.04 SNV SNV 5 7/8 PERP BKFHSG7 25.57 67,030 1,713,957.10
1.04 AQNCN AQNCN 6.2 07/01/2079 BFYWGC0 25.51 67,030 1,709,935.30
0.99 NRZ NRZ 6 3/8 PERP BLCF612 21.23 77,091 1,636,433.78
0.94 BAC BAC 4 PERP B1VN1F6 20.04 77,154 1,546,166.16
0.89 CFG CFG 6.35 PERP BGPFT82 25.67 57,314 1,471,250.38
0.89 AEL AEL 6 5/8 PERP BMTD3B5 25.59 57,314 1,466,665.26
0.88 WTFC WTFC 6 7/8 PERP BMTCNN4 26.57 54,870 1,457,895.90
0.88 AQNCN AQNCN 6 7/8 10/17/2078 BG0V242 26.36 54,873 1,446,452.28
0.85 CIM CIM 8 PERP BYYPKL9 22.58 62,087 1,401,924.46
0.83 VOYA VOYA 5.35 PERP BJGS497 23.92 57,489 1,375,136.88
0.81 AHL AHL 5.95 PERP B94QMV1 25.40 52,648 1,337,259.20
0.80 WAL WAL 4 1/4 PERP BNZJSP3 22.85 57,504 1,313,966.40
0.77 NRZ NRZ 7 1/8 PERP BHQZFQ8 23.48 53,989 1,267,661.72
0.75 TWO TWO 7 5/8 PERP BYZBR93 22.60 54,910 1,240,966.00
0.75 TWO TWO 7 1/4 PERP BFNL297 21.91 56,332 1,234,234.12
0.73 IVR IVR 7 1/2 PERP BZ0CHS7 21.80 54,886 1,196,514.80
0.72 BAC NEW YORK BAC 4 PERP B1GH4Y3 20.45 58,333 1,192,909.85
0.70 MFA MFA 6 1/2 PERP BLHGG32 21.97 52,659 1,156,918.23
0.68 AL AL 6.15 PERP BJR4L26 23.41 47,880 1,120,661.33
0.67 ABR ABR 6 1/4 PERP BLR4KW3 20.84 53,171 1,108,083.64
0.63 CIM CIM 7 3/4 PERP BGHCHV0 21.08 49,632 1,046,242.56
0.61 AGNC AGNC 6 7/8 PERP BJBT6K0 22.51 44,874 1,010,113.74
0.61 NSUS NSUS 7.592 PERP BYVQFR6 23.16 43,452 1,006,348.32
0.61 SPNT SPNT 8 PERP BMB63G7 26.12 38,339 1,001,414.68
0.51 CIM CIM 8 PERP BHRS1F7 22.18 38,200 847,276.00
0.50 GPMT GPMT 7 PERP BP4BX15 21.95 37,421 821,390.95
0.48 NYMT NYMT 7 7/8 PERP BKVHQL2 22.44 35,409 794,577.96
0.44 NRZ NRZ 7 1/2 PERP BJHNY35 24.53 29,587 725,769.11
0.43 TGH TGH 7 PERP BNNTBX4 25.42 27,834 707,559.76
0.43 ARGO ARGO 7 PERP BMVZ8X6 24.56 28,591 702,266.44
0.36 CASH 1.00 596,904 596,904.25
0.32 ACR ACR 8 5/8 PERP BNKTVK4 22.91 23,082 528,693.21
0.31 FTAI FTAI 8 1/4 PERP BMFPG16 25.59 20,158 515,843.22
0.31 NYMT NYMT 6 7/8 PERP BMC4Z64 21.50 23,961 515,161.50
0.31 DCP DCP 7.95 PERP BG0BNV6 24.19 21,091 510,098.49
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 Data Indices, LLC, nor does ICE Data Indices, LLC 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 Data Indices, LLC.

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