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 10/1/20, per ETF.com (category: “Fixed Income: U.S. - Corporate, Preferred Floating Rate”)

Fund Details As of 10/26/20

Key Facts

Ticker PFFV
Inception Date 06/22/20
CUSIP 37954Y376
ISIN US37954Y3760
Bloomberg Index Ticker PFTF
Primary Exchange NYSE Arca
Number of Holdings 93

Stats & Fees

Net Assets $2,625,695
NAV $26.26
Shares Outstanding 100,000
Total Expense Ratio 0.25%

Distributions

30-Day SEC Yield 6.03%
Distribution Frequency Monthly

Fund Prices As of 10/26/20

NAV Price 30-Day Median Bid-Ask Spread
Net Asset Value $26.26 Market Price $26.22 0.38%
Daily Change -$0.16 -0.61% Daily Change -$0.21 -0.81%  

Performance History

Cumulative %

Data as of month-end (09/30/20)

Fund NAV Market Price Index
Year-to-Date -- -- --
1 Month -1.06% -0.79% -1.01%
3 Months 7.50% 7.51% 7.59%
6 Months -- -- --
Since Inception 5.29% 5.23% 5.38%

Cumulative %

Data as of quarter-end (09/30/20)

Fund NAV Market Price Index
Since Inception 5.29% 5.23% 5.38%

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 10/26/20

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
4.23 WFC WFC 5.85 PERP BCD53N9 26.44 4,204 111,153.76
3.77 PNC PNC 6 1/8 PERP B7Y1SH0 26.90 3,682 99,045.80
2.99 GS GS 4 PERP B15CKS5 23.83 3,292 78,448.36
2.60 BAC BAC 6.45 12/15/66 BF2PL60 26.42 2,579 68,137.18
2.53 C C 7 1/8 PERP BDX8YP4 28.47 2,333 66,420.51
2.49 GS GS 5 1/2 PERP B96KM33 26.85 2,439 65,487.15
2.48 USB USB 6 1/2 PERP B4K9QZ1 26.80 2,426 65,016.80
2.21 WFC WFC 6 5/8 PERP BH7Y8S7 28.28 2,050 57,974.00
2.17 ATH ATH 6.35 PERP BK1MHD6 26.94 2,119 57,085.86
2.16 MS MS 5.85 PERP BYYYY81 28.16 2,010 56,601.60
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.