Global X - Variable Rate Preferred ETF
PFFV
New York Stock Exchange Arca- -
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 - Bonds
- Address
- 605 Third Avenue, 43rd Floor New York NY United States of America 10158
- IPO Date
- Jun 25, 2020
- CIK
- 0001432353
- Website
- globalxetfs.com
- Similar Companies
- Business
- Global X Variable Rate Preferred ETF (PFFV) is an exchange-traded fund that seeks to correspond to the price and yield performance, before fees and expenses, of the ICE U.S. Variable Rate Preferred Securities Index, which tracks the broad-based performance of the U.S.-listed variable rate preferred securities market. The fund invests in a diversified basket of U.S. variable rate preferred stocks, including fixed-to-floating rate preferreds, resettable preferreds, and floor-rate instruments; primarily from the financial sector, with top holdings such as Morgan Stanley (MS 4.86615% Perpetual), Reinsurance Group of America (RGA 7 1/8% 10/15/52), Apollo Global Management (APO 7 5/8% 09/15/53), U.S. Bancorp (USB 4.76615% Perpetual), and Goldman Sachs (GS 4.79656% Perpetual); offering exposure to high-yield, low-duration preferred securities that adjust coupon payments periodically based on benchmarks like SOFR plus a credit spread. PFFV targets income-oriented investors seeking benchmark-like exposure to this asset class, with a net expense ratio of 0.25%, approximately half the category average as of October 2025, monthly distributions (recently $0.1375 per share ex-date December 1, 2025), and assets under management around $316 million. Launched on June 22, 2020, and listed on NYSE Arca, the ETF is issued and managed by Global X Management Company LLC, a brand of Mirae Asset Global Investments (U.S.), Inc., headquartered in New York. The fund operates exclusively in U.S. markets, holding approximately 50 securities with significant concentration in financial issuers comprising over 70% of the portfolio. In recent developments, PFFV has maintained steady monthly dividend declarations amid variable rate resets benefiting from elevated interest rates, while its issuer Global X continues portfolio enhancements across its ETF lineup, including management fee reductions and structural changes for select funds completed in March 2025. No major acquisitions, new product launches specific to PFFV, or strategic shifts have been reported in the last 1-2 years, underscoring the ETF's focus on resilient income generation in rising rate environments.