Preferred-Plus ETF
IPPP
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- United States of America
- IPO Date
- Mar 7, 2022
- CIK
- 0001683471
- Similar Companies
- Business
- Preferred-Plus ETF (IPPP) is an actively managed exchange-traded fund that seeks to generate income by investing primarily in a portfolio of U.S. preferred securities issued by financial services, utilities, real estate, and other companies; fixed-rate, fixed-to-floating rate, floating rate, and other preferred stocks with varying credit qualities from AAA to NR; publicly traded partnerships; and credit spread put options on S&P 500 ETFs or indices for approximately 10% exposure to enhance yield through option premiums. The fund screens preferred securities for yield, duration, liquidity, credit quality, and structure, selecting undervalued opportunities across issuers like JPMorgan Chase, KeyCorp, Banc of California, and others predominantly in financial services. It distributes income quarterly, with a 30-day SEC yield of 6.50% and an expense ratio of 1.02%, benchmarked against the ICE BofA Core Plus Fixed Rate Preferred Securities Index. Established in 2018 with headquarters operations aligned through Innovative Portfolios in Milwaukee, Wisconsin, the predecessor mutual fund converted to an ETF listed on Cboe BZX Exchange on March 7, 2022. The fund targets income-oriented investors seeking diversification from traditional equities and fixed income, with geographic focus on U.S. dollar-denominated securities issued in the domestic market. As of August 2025, total net assets stand at approximately $12.35 million, with shares trading near NAV. In a significant recent development announced on August 11, 2025, Preferred-Plus ETF initiated liquidation proceedings, with shares pending delisting, marking a major operational wind-down for the actively managed preferred securities strategy. No notable partnerships, acquisitions, funding rounds, or new product launches were reported in the last 1-2 years prior to this event. The fund maintained steady quarterly distributions through 2025, including $0.14970 in March and $0.20000 in June.