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 industry average.^

Lower Duration Nature

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

^Expense ratio was half the category average net expense ratio as of 6/24/20, per ETF.com (category: ‘Fixed Income: U.S. - Corporate, Preferred Floating Rate’).

Fund Details As of 6/30/20

Key Facts

Ticker PFFV
Inception Date 6/22/20
CUSIP 37954Y376
ISIN US37954Y3760
Bloomberg Index Ticker PFTF
Primary Exchange NYSE Arca

Stats & Fees

Net Assets $2,433,914
NAV $24.34
Shares Outstanding 100,000
Total Expense Ratio 0.25%

Distributions

30-Day SEC Yield N/A
Distribution Frequency Monthly

Fund Prices As of 6/30/20

NAV Price
Net Asset Value $24.34 Closing Price $24.47
Daily Change -$0.22 -0.90% Daily Change -$0.09 -0.37%

Performance History

Cumulative %

Data as of month end (6/30/20)

Fund NAV Closing Price Index
1 Month -- -- --
3 Months -- -- --
6 Months -- -- --
Since Inception -- -- --

Cumulative %

Data as of quarter end (6/30/20)

Fund NAV Closing Price Index
Since Inception -2.05% -2.12% -2.06%

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.

Top 10 Holdings

As of 6/30/20
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
4.22 WFC WFC 5.85 PERP BCD53N9 24.76 4,145 102,630.20
3.93 PNC PNC 6 1/8 PERP B7Y1SH0 26.30 3,641 95,758.30
3.90 C C 6 7/8 PERP BG05028 26.41 3,592 94,864.72
2.76 GS GS 4 PERP B15CKS5 20.70 3,242 67,109.40
2.65 USB USB 6 1/2 PERP B4K9QZ1 26.08 2,468 64,365.44
2.52 BAC BAC 6.45 12/15/66 BF2PL60 25.84 2,372 61,292.48
2.51 GS GS 5 1/2 PERP B96KM33 25.40 2,401 60,985.40
2.49 C C 7 1/8 PERP BDX8YP4 26.60 2,281 60,674.60
2.20 WFC WFC 6 5/8 PERP BH7Y8S7 26.56 2,016 53,544.96
2.14 MS MS 6 3/8 PERP BQT2G00 25.93 2,010 52,119.30
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. Global X NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Closing price returns 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.