PFFD

PFFD offers inclusive coverage of US preferred stocks, with respect to both company size, credit quality, maturity, and issue characteristics (e.g., fixed vs. floating rate). Securities are selected and weighted by the market value of the preferred stock issue, plus any accrued interest. Exposure to individual issuers is capped at 10%. The fund may engage in securities lending up to one-third of its total assets. Using a sampling methodology in tracking the index, the fund invests in a sample of securities that collectively have a similar investment profile to the underlying index. The index is rebalanced quarterly.