Invesco Preferred ETF
PGX
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- Invesco Preferred ETF (PGX) is an exchange-traded fund that seeks investment results corresponding to the price and yield performance, before fees and expenses, of the ICE BofA Core Plus Fixed Rate Preferred Securities Index. The fund normally invests at least 80% of its total assets in fixed-rate, U.S. dollar-denominated preferred securities issued by U.S. companies that comprise the underlying index, including investment-grade and below investment-grade securities rated at least B3 by Moody's, S&P or Fitch; these encompass traditional preferred stock, preferred securities issued in the form of depository receipts, Rule 144A securities, and unlisted depositary shares. PGX provides diversified exposure primarily to the financial sector with 268 holdings, an average credit rating of BBB, a net expense ratio of 0.51%, monthly dividend distributions yielding approximately 5.68% trailing twelve months, and total net assets of around $4.01 billion as of late 2025. Launched on January 31, 2008, PGX operates as a passive fund managed by Invesco Capital Management LLC under Invesco Ltd., an independent global investment management firm founded in 1935 and headquartered at Midtown Union, 1331 Spring Street, Atlanta, Georgia. The ETF trades on the NYSE Arca exchange and targets income-oriented investors seeking high-yield preferred securities with moderate interest-rate sensitivity and credit risk, primarily within the U.S. domestic market. Issuer Invesco Ltd. has pursued several major strategic initiatives in 2025, including the launch of three new active ETFs in May—Invesco QQQ Hedged Advantage ETF (QQHG), Invesco Comstock Contrarian Equity ETF (CSTK), and Invesco Managed Futures Strategy ETF (IMF)—to expand its active management capabilities in ETFs. In December 2025, Invesco partnered with Galaxy Asset Management to launch the Invesco Galaxy Solana ETP (QSOL), enhancing access to cryptocurrency-linked exchange-traded products. Additional recent developments include a strategic alliance with LGT Capital Partners in December 2025 to develop U.S. private markets solutions leveraging over $190 billion in alternatives assets, and real estate joint ventures such as a $1 billion multifamily investment program with Bozzuto targeting East Coast properties, with acquisitions like Enders Place in Orlando and Ashton at Dulles Corner in Virginia. These moves reflect Invesco's ongoing expansion across ETFs, digital assets, private markets, and real estate segments amid a global presence in over 25 countries.