Symbols

PFFV

Global X Variable Rate Preferred ETF·NYSE

--(--)

Key Stats

Assets Under Management

288.13MUSD

Fund Flows (1Y)

38.83MUSD

Dividend Yield

7.56%

Discount/Premium to NAV

0.04%

Shares Outstanding

12.88M

Expense Ratio

0.25%

About Global X Variable Rate Preferred ETF

Issuer

Global X Management Company LLC

Brand

Global X

Home Page

https://www.globalxetfs.com/funds/pffv

Inception Date

Jun 22, 2020

Structure

Open-Ended Fund

Index Tracked

ICE U.S. Variable Rate Preferred Securities Index

Management Style

Passive

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

Global X Management Co. LLC

Distributor

SEI Investments Distribution Co.

PFFV offers broad exposure to US preferred stocks, with respect to company size and floating rate characteristics. Securities are selected and weighted by the market value, plus any accrued interest. Given the nature of preferreds, PFFV's holdings is concentrated on issuers from the financial industry, with a 10% exposure cap to individual issuers and a quarterly rebalance. While it may hold securities from non-US issuer, the passively-managed fund primarily invests in US-listed names of any credit quality and maturity that are denominated in USD. In all, PFFV provides a market-like, broad-based exposure to the space.