|Market Price||$22.69||Daily Change||$0.27||1.20%|
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.
PFFV’s expense ratio is half the competitor average.1
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 1/1/23, per ETF.com (category: “Fixed Income: U.S. Corporate, Preferred Floating Rate”)
|Total Expense Ratio||0.25%|
|Net Assets||$266.85 million|
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. Variable rate preferreds can play a role in an investor’s portfolio as a source of income with less interest rate risk, offering the potential to mitigate the risks of rising interest rates due to coupon payments that adjust at certain points over their lifespan.
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.
|Bloomberg Index Ticker||PFTF|
|Primary Exchange||NYSE Arca|
|Number of Holdings||70|
|30-Day Median Bid-Ask Spread||0.23%|
|30-Day SEC Yield||6.80%|
|12-Month Trailing Yield||6.76%|
|Market Price||$22.69||Daily Change||$0.27||1.20%|
As of recent (12/31/22)
As of recent (12/31/22)
|Fund NAV||Market Price||Index|
Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.
|Net Assets (%)||Ticker||Name||SEDOL||Market Price ($)||Shares Held||Market Value ($)|
|3.90||GS||GS 5.52929 PERP||B15CKS5||20.32||512,281||10,409,549.92|
|3.59||BAC||BAC 6.45 12/15/66||BF2PL60||25.09||381,354||9,568,171.86|
|3.37||USB||USB 5.84971 PERP||B617Z40||757.55||11,872||8,993,633.60|
|2.92||WFC||WFC 6 5/8 PERP||BH7Y8S7||24.20||322,181||7,796,780.20|
|2.84||MS||MS 6 3/8 PERP||BQT2G00||24.70||307,225||7,588,457.50|
|2.82||MS||MS 5.85 PERP||BYYYY81||24.50||307,241||7,527,404.50|
|2.69||ET||ET 7.6 PERP||BNZGZ86||23.40||306,912||7,181,740.80|
|2.68||USB||USB 5.39243 PERP||B125QN4||18.86||379,728||7,161,670.08|
|2.68||ATH||ATH 6.35 PERP||BK1MHD6||22.03||324,069||7,139,240.07|
|2.55||MS||MS 5.49243 PERP||B1802M4||20.15||338,033||6,811,364.95|
|2.51||GS||GS 6 3/8 PERP||BLTV2N7||25.21||265,904||6,703,439.84|
|2.50||STT||STT 5.9 PERP||BK4Z903||23.19||287,742||6,672,736.98|
|2.50||NLY||NLY 10.1521 PERP||BD0B1Y4||24.14||276,284||6,669,910.19|
|2.15||GS||GS 5.60929 PERP||B07GC93||20.11||285,059||5,732,536.49|
|2.07||WCC||WCC 10 5/8 PERP||BLFBXS3||26.58||207,471||5,514,579.18|
|1.99||MET||MET 6.15914 PERP||B0B87W3||22.99||230,418||5,297,309.82|
|1.94||ATH||ATH 6 3/8 PERP||BMG0ZK2||22.90||225,693||5,168,369.70|
|1.90||KEY||KEY 6.2 PERP||BPLPQT9||22.06||230,344||5,081,388.64|
|1.79||STT||STT 5.35 PERP||BYPK477||24.92||192,078||4,786,583.76|
|1.75||NI||NI 6 1/2 PERP||BGYJZ76||24.25||192,097||4,658,352.25|
|1.74||CHSINC||CHSINC 6 3/4 PERP||BQS2V39||24.54||189,237||4,643,875.98|
|1.69||RF||RF 6 3/8 PERP||BLZHDQ9||23.48||192,075||4,509,921.00|
|1.69||NYCB||NYCB 6 3/8 PERP||BYVLYP2||22.76||197,856||4,503,202.56|
|1.65||KEY||KEY 6 1/8 PERP||BYQR0N5||22.94||192,078||4,406,269.32|
|1.52||RF||RF 5.7 PERP||BJMXZX7||21.10||192,105||4,053,415.50|
|1.49||CHSINC||CHSINC 7.1 PERP||BKJ9QV0||24.59||161,478||3,970,744.02|
|1.48||AGNC||AGNC 6 1/8 PERP||BK8ZYQ0||19.58||201,883||3,952,869.14|
|1.46||RGA||RGA 5 3/4 06/15/56||BYT3Q98||25.35||153,839||3,899,818.65|
|1.46||NSUS||NSUS 11.5264 01/15/43||B8S0HY0||25.12||154,824||3,889,178.88|
|1.43||NLY||NLY 6 3/4 PERP||BK4QDZ9||22.49||170,189||3,827,550.61|
|1.30||RITM||RITM 7 PERP||BMHVDC2||19.45||178,874||3,479,099.30|
|1.29||AEL||AEL 5.95 PERP||BL4Q3H8||22.37||153,904||3,443,140.29|
|1.27||ESGR||ESGR 7 PERP||BFXXB52||21.97||153,923||3,381,688.31|
|1.26||NSUS||NSUS 10.8021 PERP||BF0XV77||22.77||148,171||3,373,853.67|
|1.18||AQNCN||AQNCN 6.2 07/01/2079||BFYWGC0||23.26||134,808||3,135,647.56|
|1.16||BAC||BAC 5.41529 PERP||B1VN1F6||20.25||152,332||3,084,723.00|
|1.11||PACW||PACW 7 3/4 PERP||BNM26D9||15.00||197,176||2,957,640.00|
|1.10||AGNC||AGNC 6 1/2 PERP||BK71BY6||20.78||141,553||2,941,471.34|
|1.06||RITM||RITM 6 3/8 PERP||BLCF612||18.36||153,364||2,815,763.04|
|1.05||SNV||SNV 5 7/8 PERP||BKFHSG7||20.86||134,751||2,810,905.86|
|1.04||AEL||AEL 6 5/8 PERP||BMTD3B5||24.02||115,567||2,775,919.34|
|1.03||AGNC||AGNC 9.90343 PERP||BDH3TH2||23.94||114,369||2,737,993.86|
|1.02||CFG||CFG 6.35 PERP||BGPFT82||23.58||115,568||2,725,093.44|
|0.97||VOYA||VOYA 5.35 PERP||BJGS497||22.39||115,579||2,587,813.81|
|0.95||WTFC||WTFC 6 7/8 PERP||BMTCNN4||22.99||110,769||2,546,579.31|
|0.93||CIM||CIM 8 PERP||BYYPKL9||19.71||125,276||2,469,189.96|
|0.87||MTB||MTB 5 5/8 PERP||BPQT641||24.59||93,921||2,309,517.39|
|0.85||TWO||TWO 7 1/4 PERP||BFNL297||19.83||113,840||2,257,447.20|
|0.82||RITM||RITM 7 1/8 PERP||BHQZFQ8||20.55||106,169||2,181,772.95|
|0.81||TVA||TVA 2.134 06/01/28||2612674||21.71||98,886||2,147,299.60|
|0.81||TWO||TWO 7 5/8 PERP||BYZBR93||19.35||110,952||2,146,921.20|
|0.76||AL||AL 6.15 PERP||BJR4L26||21.00||96,473||2,025,933.00|
|0.76||NSUS||NSUS 11.9251 PERP||BYVQFR6||23.74||84,971||2,017,211.54|
|0.68||ABR||ABR 6 1/4 PERP||BLR4KW3||17.16||106,424||1,826,235.84|
|0.67||MFA||MFA 6 1/2 PERP||BLHGG32||17.29||103,027||1,781,336.83|
|0.66||CIM||CIM 7 3/4 PERP||BGHCHV0||18.16||97,418||1,769,110.88|
|0.64||AGNC||AGNC 6 7/8 PERP||BJBT6K0||20.40||83,052||1,694,260.80|
|0.62||TVA||TVA 2.216 05/01/29||2520249||21.37||77,586||1,658,012.82|
|0.62||SPNT||SPNT 8 PERP||BMB63G7||22.03||74,760||1,646,962.80|
|0.59||GS||GS 5.90914 PERP||B0N0V47||20.52||76,711||1,574,109.72|
|0.58||WAL||WAL 4 1/4 PERP||BNZJSP3||13.40||115,717||1,550,607.80|
|0.54||CIM||CIM 8 PERP||BHRS1F7||19.14||74,579||1,427,442.06|
|0.53||IVR||IVR 7 1/2 PERP||BZ0CHS7||18.71||75,661||1,415,239.01|
|0.50||MBIN||MBIN 8 1/4 PERP||BQ0QJ57||24.94||52,961||1,320,847.34|
|0.48||GPMT||GPMT 7 PERP||BP4BX15||16.66||76,436||1,273,614.85|
|0.46||RITM||RITM 7 1/2 PERP||BJHNY35||21.16||57,516||1,217,038.56|
|0.41||AGNC||AGNC 7 3/4 PERP||BNC35P7||21.52||50,591||1,088,718.32|
|0.41||NYMT||NYMT 8 PERP||BF2FGW1||19.17||56,691||1,086,483.02|
|0.40||KMPR||KMPR 5 7/8 03/15/62||BNW0GQ6||19.00||55,552||1,055,488.00|
|0.33||FTAI||FTAI 8 1/4 PERP||BM8J6T3||22.68||38,669||877,012.92|
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.