Principal Spectrum Preferred Securities Active ETF
PREF
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
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
FRC
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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
- Address
- 711 High Street Des Moines IA United States of America 50392
- IPO Date
- Jul 12, 2017
- CIK
- 0001572661
- Website
- principalam.com
- Similar Companies
- Business
- Principal Spectrum Preferred Securities Active ETF (PREF) is an actively managed exchange-traded fund that seeks current income by investing at least 80% of its net assets, plus any borrowings for investment purposes, in preferred securities, including preferred stock, certain depositary receipts, and various types of junior subordinated debt; it particularly focuses on $1,000 par preferred securities issued in large institutional lot sizes by U.S. and non-U.S. financial services companies and other corporations, such as hybrid securities from issuers like Bank of Nova Scotia, Bank of America, Toronto-Dominion Bank, JPMorgan Chase, and PNC Financial Services. The fund concentrates more than 25% of its net assets in securities within the financial services sector and employs dynamic security selection based on specialized research to manage credit, call, and interest rate risks, with top holdings including variable-rate junior subordinated debt from major banks and insurers. PREF distributes income monthly, targets investors seeking yield and diversification in broad credit fixed income, and trades on NYSE Arca with assets under management of approximately $1.3 billion, a net expense ratio of 0.55%, and a 30-day SEC yield around 4.86%. Launched on July 10, 2017, and issued by Principal Asset Management, Inc., a business unit of Principal Financial Group, Inc., headquartered in Des Moines, Iowa, the ETF operates primarily in U.S. markets but holds global preferred securities, with portfolio managers including Bob Giangregorio, L. Phillip Jacoby IV, Manu Krishnan, Mark A. Lieb, and Kevin Nugent. In recent developments, Principal Asset Management expanded its active ETF lineup in 2025, including the March launch of the Principal Capital Appreciation Select ETF (LCAP), bringing the total to 12 ETFs with $5.9 billion in combined AUM, while announcing a name change and exchange shift for another ETF (Principal Investment Grade Corporate Active ETF to Cboe BZX) effective April 2026; PREF itself has seen steady institutional interest, such as Envestnet Asset Management increasing its stake by 59.7% in Q2 2025, alongside consistent monthly dividend increases, such as from $0.0721 in December 2024 to $0.0827 in December 2025.