Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF
GPRF
NASDAQ Global Market- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 200 West Street New York NY United States of America 10282
- IPO Date
- Aug 1, 2024
- Website
- am.gs.com
- Similar Companies
- Business
- Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) is an exchange-traded fund that seeks to provide investment results corresponding to the performance of the FTSE Goldman Sachs US Preferred Stock and Hybrids Index, before fees and expenses. The fund invests at least 80% of its assets in U.S. dollar-denominated preferred stocks and hybrid securities issued in the United States with a minimum maturity of one year; it filters out instruments from the FTSE US Preferred and Hybrids Index that have a yield to worst below -5%, subject to a 2.5% buffer. Holdings include preferred securities from issuers such as Wells Fargo & Company, JPMorgan Chase & Co., Citigroup Inc., Charles Schwab Corporation, U.S. Bancorp, Dominion Energy Inc., Prudential Financial Inc., and Enbridge Inc., spanning sectors like financial companies (29.0%), electric utilities (15.5%), energy (8.8%), insurance (6.8%), and banks; the portfolio features 465 holdings, a net expense ratio of 0.45%, a 30-day SEC yield of 5.40%, weighted average maturity of 84.57 years, option-adjusted duration of 5.08 years, and total net assets of $188.06 million. Launched on July 30, 2024, and listed on NASDAQ, GPRF is managed by Goldman Sachs Asset Management, L.P., a division of The Goldman Sachs Group, Inc., headquartered in New York, New York. The fund targets investors seeking high monthly income from preferred and hybrid securities, which offer dividend priority and diversification benefits with lower interest rate sensitivity relative to other asset classes; it operates passively to replicate the index, with credit allocation primarily in investment-grade (68.4% BBB/A, 2.3% A), high-yield (28.2% BB/B), and minimal cash (0.2%). In late 2025, Goldman Sachs announced the acquisition of Innovator Capital Management for approximately $2 billion to expand its active ETF offerings, complementing passive products like GPRF and building on recent asset management division transactions. The fund maintains a focus on the U.S. fixed income market, particularly broad credit segments with non-investment grade exposure, and exhibits sector concentrations in financial services, utilities, and energy without reported partnerships, funding rounds, or product relaunches specific to GPRF in the last 1-2 years.