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PFFD

U.S. Preferred ETF

 

Reasons to Consider PFFD

High Income Potential

PFFD invests in a broad basket of preferred stock in the U.S., an asset class that has historically offered high yield potential.

Low Expense Ratio

PFFD’s expense ratio is less than half the competitor average.1

Monthly Distributions

PFFD has made monthly distributions 7 years running.

1Expense ratio was 52.8% lower than the competitor average net expense ratio as of 1/2/25, per ETF.com (category: “Fixed Income: U.S. Corporate, Preferred”)

Key Information As of 01/21/25

Inception Date 09/11/17
Total Expense Ratio 0.23%
Net Assets $2.37 billion
NAV $19.98
Fact Sheet View the document

ETF Summary

The Global X U.S. Preferred ETF (PFFD) invests in a broad basket of U.S. preferred stocks, providing benchmark-like exposure to the asset class.

ETF Objective

The Global X U.S. Preferred ETF (PFFD) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the ICE BofA Diversified Core U.S. Preferred Securities Index.

Trading Details As of 01/21/25

Ticker PFFD
Bloomberg Index Ticker PLCR4PM
CUSIP 37954Y657
ISIN US37954Y6573
Primary Exchange NYSE Arca
Shares Outstanding 118,550,000
Number of Holdings 218
30-Day Median Bid-Ask Spread 0.05%
NAIC Designation Preliminary 3.A as of 03/31/24

Distributions As of 01/21/25

30-Day SEC Yield 6.41%
Trailing 12-Month Distribution (%) 1 6.43%
Distribution Rate 2 6.04%
Distribution Frequency Monthly

1The distribution as a percentage an investor would have received if they had held the fund over the last twelve months, assuming the most recent NAV. The Trailing 12-Month Distribution (%) is calculated by summing any income, capital gains and return of capital distributions over the past twelve months and dividing by the sum of the most recent NAV and any capital gain distributions made over the same period. The distribution is estimated to include a return of capital. For information on the breakdown of the distributions, please see the “19a Notice” here. These do not imply rates for any future distributions.

2The annual rate an investor would receive if the most recent fund distribution remained the same going forward. The rate represents a single distribution from the fund and does not represent total return of the fund. The distribution rate is calculated by annualizing the most recent distribution and dividing by the most recent fund NAV. The distribution is estimated to include a return of capital. For information on the breakdown of the distributions, please see the “19a Notice” here. These do not imply rates for any future distributions.

ETF Prices As of 01/21/25

NAV $19.98 Daily Change $0.21 1.06%
Market Price $20.00 Daily Change $0.19 0.96%

Performance History

As of recent month & quarter-end (12/31/24)
As of recent month & quarter-end (12/31/24)
Fund NAV Market Price Index
1 Year 7.39% 7.05% 7.68%
3 Years -2.81% -2.98% -2.63%
5 Years 0.95% 0.86% 1.14%
Since Inception 2.47% 2.47% 2.67%
1 Year 7.39% 7.05% 7.68%
3 Years -2.81% -2.98% -2.63%
5 Years 0.95% 0.86% 1.14%
Since Inception 2.47% 2.47% 2.67%
Year-to-Date 7.39% 7.05% 7.68%
1 Month -3.65% -3.94% -3.63%
3 Months -3.76% -4.19% -3.65%
Since Inception 19.51% 19.54% 21.26%
Year-to-Date 7.39% 7.05% 7.68%
1 Month -3.65% -3.94% -3.63%
3 Months -3.76% -4.19% -3.65%
Since Inception 19.51% 19.54% 21.26%

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Top Holdings As of 01/21/25

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
3.92 WFC WFC 7 1/2 PERP B3KRSW9 1,222.70 75,866 92,761,358.20
2.78 BAC BAC 7 1/4 PERP B2PB3Z7 1,234.80 53,298 65,812,370.40
2.22 C C 11.2208 10/30/40 B3Z1BZ0 30.80 1,710,269 52,676,285.20
2.04 APO APO 6 3/4 07/31/26 BQVW6Z3 88.36 546,721 48,308,267.56
1.65 ALB ALB 7 1/4 03/01/27 BPCTR42 44.49 876,043 38,975,153.07
1.62 HPE HPE 7 5/8 09/01/27 BRBVKF5 67.58 569,157 38,463,630.06
1.57 NEE NEE 7.299 06/01/27 BPBP9W3 48.87 762,971 37,286,392.77
1.52 JPM JPM 6 PERP BJ2KBT6 25.63 1,405,628 36,026,245.64
1.38 JPM JPM 5 3/4 PERP BFY34D0 25.37 1,286,372 32,635,257.64
1.33 WFC WFC 4 3/4 PERP BJVB6B7 20.55 1,530,071 31,442,959.05
1.25 JPM JPM 4 5/8 PERP BND7XB0 20.95 1,410,890 29,558,145.50
1.22 JPM JPM 4.2 PERP BN75VC7 19.09 1,518,226 28,982,934.34
1.11 T T 4 3/4 PERP BLL1ZY7 19.80 1,327,862 26,291,667.60
1.02 T T 5.35 11/01/66 BF545Q2 24.12 1,000,603 24,134,544.36
1.01 GS GS 5.45324 PERP B15CKS5 23.39 1,022,225 23,909,842.75
1.01 BAC BAC 6 PERP BFZNM46 25.51 932,981 23,800,345.31
0.99 JPM JPM 4.55 PERP BM8TGF9 20.67 1,139,478 23,553,010.26
0.96 COF COF 5 PERP BGMJPW3 20.04 1,135,346 22,752,333.84
0.95 BAC BAC 5 3/8 PERP BJN6RX9 23.56 954,756 22,494,051.36
0.85 MS MS 5.26359 PERP B1802M4 23.82 843,546 20,093,265.72
0.85 MS MS 6 5/8 PERP BPDXXZ6 26.11 766,296 20,007,988.56
0.84 MS MS 6 1/2 PERP BQH5ZL5 25.85 768,167 19,857,116.95
0.83 BAC BAC 5 PERP BKVJXF1 21.96 899,105 19,744,345.80
0.83 ALL ALL 5.1 PERP BKDKS91 22.52 875,378 19,713,512.56
0.83 MS MS 6 3/8 PERP BQT2G00 25.44 767,979 19,537,385.76
0.81 T T 5 PERP BKPK060 21.28 902,939 19,214,541.92
0.80 DUK DUK 5 3/4 PERP BJXH6L3 25.04 754,205 18,885,293.20
0.80 BAC BAC 6.45 12/15/66 BF2PL60 25.98 726,297 18,869,196.06
0.79 MS MS 5.85 PERP BYYYY81 24.60 762,471 18,756,786.60
0.78 MS MS 4 1/4 PERP BMF4W82 18.52 991,226 18,357,505.52
0.77 WFC WFC 4.7 PERP BMYVT83 20.48 887,748 18,181,079.04
0.75 COF COF 4.8 PERP BK9PWX2 18.82 941,594 17,720,799.08
0.75 WFC WFC 4 1/4 PERP BP91X65 18.67 948,341 17,705,526.47
0.73 USB USB 5.16359 PERP B125QN4 22.75 761,560 17,325,490.00
0.71 BAC BAC 4 1/4 PERP BMH4QB1 18.85 897,572 16,919,232.20
0.71 MS MS 7 1/8 PERP BF4YJ94 25.51 657,406 16,770,427.06
0.70 MS MS 6 7/8 PERP BH5QGM5 25.41 647,854 16,461,970.14
0.69 SO SO 4.95 01/30/2080 BKM3QB9 21.62 754,006 16,301,609.72
0.68 ATH ATH 6.35 PERP BPSKDY1 24.74 651,311 16,113,434.14
0.67 MET MET 4 3/4 PERP BL3BQ19 21.14 755,706 15,975,624.84
0.64 MTB MTB 7 1/2 PERP BS55Z77 27.05 562,650 15,219,682.50
0.64 WFC WFC 4 3/8 PERP BL5C513 19.24 790,658 15,212,259.92
0.63 AEGON AEGON 5.1 12/15/49 BK59DD5 21.23 698,041 14,819,410.43
0.62 BAC BAC 5 7/8 PERP BYVQZ09 25.07 589,891 14,788,567.37
0.62 MET MET 5 5/8 PERP BG43LW5 24.31 607,441 14,766,890.71
0.62 JPM JPM 4 3/4 PERP BK57WX2 21.42 681,688 14,601,756.96
0.61 SCHW SCHW 5.95 PERP BYPFT55 25.42 565,146 14,366,011.32
0.61 TFC TFC 4 3/4 PERP BLD4B13 20.65 694,915 14,349,994.75
0.61 BAC BAC 4 3/8 PERP BMVXBP3 19.25 744,810 14,337,592.50
0.59 RGA RGA 7 1/8 10/15/52 BMG9SY4 26.13 535,757 13,999,330.41
0.59 F F 6 12/01/59 BJP1KW2 23.20 601,638 13,958,001.60
0.57 F F 6.2 06/01/59 BJ029D4 23.80 565,167 13,450,974.60
0.56 GS GS 5.53324 PERP B07GC93 23.52 568,108 13,361,900.16
0.56 SRE SRE 5 3/4 07/01/2079 BK8LV34 23.52 565,045 13,289,858.40
0.55 CTL CTL 6 1/2 09/01/56 BZ4C835 17.60 735,296 12,941,209.60
0.54 WFC WFC 5 5/8 PERP BYQHXS1 24.57 522,057 12,826,940.49
0.54 EQH EQH 5 1/4 PERP BKRMRC9 21.30 598,691 12,752,118.30
0.53 ALL ALL 7 3/8 PERP BNBXR41 26.91 466,410 12,551,093.10
0.52 NEE NEE 5.65 03/01/2079 BH3JGK4 24.01 516,172 12,393,289.72
0.52 APO APO 7 5/8 09/15/53 BQC5ZW1 26.60 461,673 12,280,501.80
0.49 SYF SYF 5 5/8 PERP BK77YC3 19.50 590,554 11,515,803.00
0.48 BAC BAC 4 1/8 PERP BN4Q1G7 18.27 627,188 11,458,724.76
0.48 MET MET 5.62018 PERP B0B87W3 25.11 451,392 11,334,453.12
0.48 CMS CMS 5 7/8 03/01/2079 BJJP666 24.00 470,573 11,293,752.00
0.48 KEY KEY 6.2 PERP BPLPQT9 24.73 456,118 11,279,798.14
0.48 F F 6 1/2 08/15/62 BPJK038 25.13 448,600 11,273,318.00
0.47 BTSG BTSG 6 3/4 02/01/27 BPDYYD4 74.33 149,388 11,104,010.04
0.47 SO SO 4.2 10/15/60 BMGS0L2 18.66 590,554 11,019,737.64
0.47 JXN JXN 8 PERP BMW6VL7 26.60 414,054 11,013,836.40
0.46 ATH ATH 7 1/4 03/30/64 BSLKYN5 25.40 432,141 10,976,381.40
0.46 LNC LNC 9 PERP BP398R1 27.69 394,128 10,913,404.32
0.44 USB USB 5 1/2 PERP BDT6C58 23.99 435,098 10,438,001.02
0.43 TFC TFC 5 1/4 PERP BMFYGG8 22.49 453,604 10,201,553.96
0.43 PRU PRU 5 5/8 08/15/58 BG844G9 24.08 423,094 10,188,103.52
0.43 SYF SYF 8 1/4 PERP BSNWT01 26.26 387,842 10,184,730.92
0.43 EIX EIX 7 1/2 PERP BLFB156 24.38 415,330 10,125,745.40
0.42 BAC BAC 4 3/4 PERP BN7SQB0 21.07 477,271 10,056,099.97
0.42 USB USB 4 PERP BMFDGD2 17.76 564,475 10,025,076.00
0.42 TDS TDS 6 PERP BNSNM38 19.35 517,181 10,007,452.35
0.42 ALL ALL 7.72859 01/15/53 B87XV26 26.15 380,283 9,944,400.45
0.42 ATH ATH 7 3/4 PERP BPLKV33 26.39 375,546 9,910,658.94
0.42 USB USB 5.58359 PERP B617Z40 874.04 11,288 9,866,163.52
0.41 RF RF 5.7 PERP BJMXZX7 24.80 393,273 9,753,170.40
0.41 RF RF 6.95 PERP BNM9HL5 25.66 376,653 9,664,915.98
0.40 STT STT 5.35 PERP BYPK477 24.18 395,821 9,570,951.78
0.40 KEY KEY 6 1/8 PERP BYQR0N5 25.27 377,602 9,542,002.54
0.40 SCHW SCHW 4.45 PERP BMW32F9 19.88 471,774 9,378,867.12
0.39 USM USM 6 1/4 09/01/69 BMGR6C2 23.58 395,477 9,325,347.66
0.39 COF COF 4 3/8 PERP BMX47S9 17.59 530,042 9,323,438.78
0.39 FITB FITB 8.29627 PERP BH58353 25.78 356,292 9,185,207.76
0.38 DUK DUK 5 5/8 09/15/2078 BFNR2X9 24.25 370,867 8,993,524.75
0.38 QRTEV QRTEA 8 03/15/31 BMH2T16 35.62 251,353 8,953,193.86
0.38 PSA PSA 4 5/8 PERP BLFGL51 20.03 446,660 8,946,599.80
0.38 CTL CTL 6 3/4 06/15/57 BD2ZSL0 17.75 502,754 8,923,883.50
0.37 AXS AXS 5 1/2 PERP BD2Z8N2 21.11 418,090 8,825,879.90
0.36 CFG CFG 7 3/8 PERP BQGD2H5 26.96 319,022 8,600,833.12
0.36 BPY BPY 6 1/4 07/26/2081 BMJ0KL5 16.01 534,179 8,552,205.79
0.36 AMG AMG 6 3/4 03/30/64 BSLL7L7 25.11 337,028 8,462,773.08
0.36 MS MS 4 7/8 PERP BK6JGG8 21.14 399,012 8,435,113.68
0.35 USM USM 5 1/2 03/01/70 BN7J7C1 22.37 375,255 8,394,454.35
0.35 USM USM 5 1/2 06/01/70 BNMBT60 22.34 374,205 8,359,739.70
0.35 BHF BHF 5 3/8 PERP BN0TD19 18.35 452,790 8,308,696.50
0.34 FLG FLG 6 3/8 PERP BYVLYP2 20.98 385,607 8,090,034.86
0.34 SO SO 5 1/4 12/01/2077 BF0WD23 22.86 353,284 8,076,072.24
0.34 TPG TPG 6.95 03/15/64 BRC7MJ0 25.56 315,698 8,067,662.39
0.34 PSA PSA 4 PERP BM91SN6 17.38 460,474 8,003,038.12
0.34 KEY KEY 5 5/8 PERP BJHDLJ0 22.21 358,784 7,968,592.64
0.33 ATH ATH 4 7/8 PERP BMC8G63 18.37 429,430 7,888,629.10
0.33 RGA RGA 5 3/4 06/15/56 BYT3Q98 24.83 315,483 7,833,442.89
0.32 BHF BHF 6.6 PERP BJ0M332 22.82 336,500 7,678,930.00
0.32 ANGINC ANGINC 8.566 PERP BRRG5T3 25.30 300,775 7,609,607.50
0.31 PRU PRU 4 1/8 09/01/60 BLB2465 18.82 395,579 7,444,796.78
0.31 ACGL ACGL 4.55 PERP BNYBNX3 18.86 393,760 7,426,313.60
0.31 KEY KEY 5.65 PERP BYWLBZ0 22.14 335,382 7,425,357.48
0.31 BHF BHF 6 3/4 PERP BM9JJ93 23.28 318,160 7,406,764.80
0.31 CG CG 4 5/8 05/15/61 BMHV4X0 18.86 392,448 7,401,569.28
0.31 HBAN HBAN 4 1/2 PERP BKPLQ32 18.46 399,957 7,383,206.22
0.31 CFG CFG 5 PERP BK229B7 20.36 358,838 7,305,941.68
0.30 FG FG 7.95 12/15/53 BNKG9F6 26.38 272,655 7,192,638.90
0.30 USB USB 4 1/2 PERP BMC7GV5 20.08 357,906 7,186,752.48
0.30 DTE DTE 5 1/4 12/01/2077 BF3L703 22.87 313,547 7,170,819.89
0.30 SNV SNV 8.397 PERP BKFHSG7 25.93 276,490 7,169,385.70
0.30 KKR KKR 4 5/8 04/01/61 BN2D5N5 19.13 372,403 7,124,069.39
0.30 BHF BHF 6 1/4 09/15/58 BF5JWJ9 23.60 299,877 7,077,097.20
0.30 HIG HIG 6 PERP BF5J7D8 25.43 275,897 7,016,060.71
0.30 B 01/30/25 BS4B9W9 1.00 7,000,000 6,993,452.13
0.29 AQNCN AQNCN 8.86372 07/01/2079 BFYWGC0 25.36 267,246 6,777,358.56
0.29 EIX EIX 5 PERP BDC3P68 18.08 373,884 6,759,822.72
0.28 HBAN HBAN 6 7/8 PERP BQMS207 25.60 259,780 6,650,368.00
0.28 TDS TDS 6 5/8 PERP BMDKP83 21.60 307,565 6,643,404.00
0.28 NTRS NTRS 4.7 PERP BKFVZR9 20.77 319,049 6,626,647.73
0.28 PBI PBI 6.7 03/07/43 B9CDPW6 19.42 339,930 6,601,440.60
0.28 ETR ETR 4 7/8 09/01/66 BZC0L09 21.79 302,805 6,598,120.95
0.28 EIX EIX 6.95 PERP BSQL9V6 23.79 276,488 6,577,649.52
0.28 BAC BAC 5.28175 PERP B1VN1F6 23.93 274,854 6,575,881.95
0.28 RNR RNR 4.2 PERP BKSDN56 16.78 391,377 6,567,306.06
0.27 RLJ RLJ 1.95 PERP BF2N465 25.25 257,514 6,502,202.75
0.27 ESGR ESGR 7 PERP BFXXB52 20.35 315,107 6,412,427.45
0.26 USB USB 3 3/4 PERP BMFV904 16.58 374,639 6,211,514.62
0.26 FCNCA FCNCA 5 3/8 PERP BLHLTL6 22.36 271,701 6,075,234.36
0.26 PRU PRU 5.95 09/01/62 BQB5JR5 25.32 239,927 6,074,951.64
0.26 DLR DLR 5.2 PERP BKLXG10 21.88 275,897 6,036,626.36
0.25 PSA PSA 4 PERP BMQ85K6 17.23 346,923 5,977,483.29
0.25 RF RF 4.45 PERP BP2C5M5 18.50 315,458 5,835,973.00
0.24 COF COF 4 1/4 PERP BMHJZD1 16.95 334,730 5,673,673.50
0.24 VOYA VOYA 5.35 PERP BJGS497 23.84 235,888 5,623,569.92
0.24 ASB ASB 6 5/8 03/01/33 BMX3XP5 24.98 224,029 5,596,244.42
0.24 ATH ATH 5 5/8 PERP BKWG6L8 21.50 258,607 5,560,050.50
0.23 BNCN BNCN 4 5/8 10/16/2080 BNHQ5L7 17.18 321,145 5,517,271.10
0.23 ACGL ACGL 5.45 PERP BF956G8 22.07 247,519 5,462,744.33
0.23 WAL WAL 4 1/4 PERP BNZJSP3 22.50 238,024 5,355,540.00
0.22 PSA PSA 5.05 PERP BF7PKX5 22.22 237,762 5,283,071.64
0.22 CMS CMS 5 7/8 10/15/2078 BFXBC20 23.55 223,610 5,266,015.50
0.22 AMG AMG 5 7/8 03/30/59 BJVJZF8 23.12 224,738 5,195,942.56
0.22 PSA PSA 5.6 PERP BGMHQB3 23.97 214,019 5,130,035.43
0.21 BAC NEW YORK BAC 5.13507 PERP B1GH4Y3 24.03 211,272 5,076,866.16
0.21 PSA PSA 4 7/8 PERP BK598B8 21.29 235,275 5,009,004.75
0.21 QVCN QVCN 6 1/4 11/26/68 BKVHZH1 12.51 398,959 4,990,977.09
0.21 SO SO 5 10/01/2077 BZ60HT6 22.78 215,322 4,905,035.16
0.21 PSA PSA 5.15 PERP BYZ2PF8 22.20 220,732 4,900,250.40
0.20 TCBI TCBI 5 3/4 PERP BMH40V9 20.48 236,399 4,841,451.52
0.20 ALL ALL 4 3/4 PERP BK727P2 20.84 226,802 4,726,553.68
0.20 WRB WRB 5.1 12/30/59 BJBK4B0 21.19 221,785 4,699,624.15
0.20 MTB MTB 5 5/8 PERP BPQT641 24.97 185,629 4,635,156.13
0.19 BHF BHF 4 5/8 PERP BNRLZ01 16.19 284,188 4,601,003.72
0.19 BEPUCN BEPUCN 4 5/8 PERP BLFF1H0 16.17 282,184 4,562,915.28
0.19 SR SR 5.9 PERP BJV8KN8 24.71 183,996 4,546,541.16
0.19 VNO VNO 5 1/4 PERP BF5LLD2 17.70 255,469 4,521,801.30
0.19 RNR RNR 5 3/4 PERP BFMZ665 23.26 193,935 4,510,928.10
0.19 EQH EQH 4.3 PERP BMF1DS0 18.48 243,719 4,503,927.12
0.19 HPP HPP 4 3/4 PERP BP38WQ5 13.47 333,929 4,498,023.63
0.19 BAC BAC 5.42552 PERP B06H0T3 22.86 193,651 4,426,861.86
0.19 OZK OZK 4 5/8 PERP BNTYXM6 17.14 256,136 4,390,171.04
0.18 ETR ETR 4 7/8 09/01/66 BD0S963 21.69 199,005 4,316,418.45
0.18 VNO VNO 5.4 PERP B8K7RN8 18.06 236,248 4,266,638.88
0.18 ETR ETR 4.9 10/01/66 BD5NDN8 21.94 194,357 4,264,192.58
0.18 KIM KIM 5 1/4 PERP BD0RST6 21.91 194,191 4,254,724.81
0.18 BIP BIP 5 1/8 PERP BPVC0M1 17.70 239,927 4,246,707.90
0.18 BC BC 6 3/8 04/15/49 BJT13Z2 24.94 170,110 4,242,543.40
0.18 SF SF 6 1/8 PERP BMDX0S7 25.45 166,341 4,233,378.45
0.18 AIZ AIZ 5 1/4 01/15/61 BLD4BS0 20.74 199,931 4,146,568.94
0.17 DTE DTE 4 3/8 12/01/2081 BNQNFS6 19.01 217,015 4,125,455.15
0.17 SF SF 4 1/2 PERP BP38124 18.16 221,335 4,019,443.60
0.17 FITB FITB 4.95 PERP BKKBGL5 21.50 185,546 3,989,239.00
0.17 SLG SLG 6 1/2 PERP B89P3T1 23.15 172,011 3,982,054.65
0.17 VNO VNO 5 1/4 PERP BMWB4M4 18.01 220,946 3,979,237.46
0.17 DLR DLR 5.85 PERP BJR2164 24.12 164,827 3,975,627.24
0.17 GL GL 4 1/4 06/15/61 BKP8TS9 16.38 241,538 3,956,392.44
0.16 WAFD WAFD 4 7/8 PERP BMVN6G9 17.25 224,616 3,874,626.00
0.16 GS GS 5.53324 PERP B0N0V47 24.46 157,995 3,864,557.70
0.16 SF SF 5.2 10/15/47 BD9FPT0 21.21 179,864 3,814,915.44
0.16 SPNT SPNT 8 PERP BMB63G7 25.65 146,814 3,765,779.10
0.16 DHC DHC 5 5/8 08/01/42 BKRTG67 14.65 256,095 3,751,791.75
0.16 PSA PSA 4.1 PERP BMX8DR2 17.80 209,522 3,729,491.60
0.16 AHL AHL 5 5/8 PERP BD915N2 20.66 180,037 3,719,564.42
0.16 SNV SNV 7.9037 PERP BG1FRQ0 25.17 146,071 3,676,607.07
0.15 FITB FITB 6 PERP BJGTMK7 24.78 145,694 3,610,297.32
0.15 WRB WRB 5.7 03/30/58 BFMXK34 23.19 155,648 3,609,477.12
0.15 VNO VNO 4.45 PERP BMHV5V5 15.73 223,003 3,507,837.19
0.14 SLM SLM 6.32018 PERP B0B87Z6 74.40 45,599 3,392,565.60
0.14 FCNCA FCNCA 5 5/8 PERP BMQ7J12 23.15 146,485 3,391,127.75
0.14 DLR DLR 5 1/4 PERP BD0YJ83 22.19 146,441 3,249,525.79
0.14 OTHER PAYABLE & RECEIVABLES 1.00 3,247,679 3,247,679.28
0.14 TFC TFC 5.0817 PERP BKMF2F1 23.35 136,988 3,198,669.80
0.13 CMS CMS 4.2 PERP BLNB396 18.10 169,704 3,071,642.40
0.13 BOH BOH 8 PERP BPBPCX5 25.72 119,316 3,068,807.52
0.13 HBAN 5.7 PERP BMHH2W3 23.40 127,949 2,993,366.86
0.13 BPY BPY 6 3/8 PERP BK1KVK5 14.83 199,931 2,964,976.73
0.12 BEPUCN BEPUCN 7 1/4 PERP BRBHMW4 24.95 117,920 2,942,104.00
0.12 KMPR KMPR 5 7/8 03/15/62 BNW0GQ6 23.46 119,900 2,812,854.00
0.12 BIP BIP 7 1/4 05/31/2084 BQGD0K4 24.63 113,097 2,785,579.11
0.11 TRTN TRTN 6 7/8 PERP BMTQTF0 23.58 107,296 2,530,039.68
0.10 NMFC NMFC 8 1/4 11/15/28 BNDSDV3 25.72 92,021 2,366,780.12
0.10 EPR EPR 5 3/4 PERP B8MGH66 21.66 107,767 2,334,233.22
0.10 ADC ADC 4 1/4 PERP BMZ4J92 18.25 124,478 2,271,723.50
0.09 PSA PSA 3.9 PERP BMW9C79 16.88 132,193 2,231,417.84
0.09 BPY BPY 6 1/2 PERP BJHJQ37 15.15 143,737 2,177,615.55
0.07 OPI OPI 6 3/8 06/23/50 BK80YB0 12.02 129,602 1,557,816.04
0.07 ESGR ESGR 7 PERP BGT0PD0 20.49 75,474 1,546,462.26
0.02 CASH 1.00 406,878 406,877.61
Holdings are subject to change. "Cash" denotes U.S. dollars.

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ETF Documents

Preliminary National Association of Insurance Commissioners (NAIC) Designation refers to the NAIC Securities Valuation Office’s (SVO’s) opinion as to what NAIC Designation it believes the Fund would receive if owned by an insurance company and reported to the SVO. NAIC Designations are to be used solely by the state insurance regulators and by the insurance industry for financial solvency monitoring and not for purposes of investment decision-making.

The Securities Valuation Office of the National Association of Insurance Commissioners (NAIC) assigns credit quality designations to securities held by state-regulated insurance companies. NAIC Designations are opinions of credit quality that range from NAIC 1, being the highest quality, to NAIC 6, being the lowest quality. “P” is a valuation indicator used to classify perpetual preferred stock. NAIC designations allow ETFs to be reported as bonds or preferred stock (as appropriate) on NAIC Schedule D and are used to set Risk-Based Capital (RBC) requirements. NAIC designations only measure credit risk and do not measure other risks or factors that may affect repayment, such as volatility/interest rate, prepayment, extension or liquidity risk. Refer to official NAIC publication and guidance for official NAIC policies and definitions.

Preliminary NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. A Preliminary NAIC Designation is an opinion of the NAIC Securities Valuation Office (SVO) of the probable credit quality designation that would be assigned by the SVO to an investment if purchased by an insurance company and reported to the SVO. A Preliminary NAIC Designations is only one of the regulatory factors considered by the SVO as part of its analysis of probable regulatory treatment under the Regulatory Treatment Analysis Service. A full discussion of such other regulatory factors is set forth in the RTAS Letter provided to Global X. A Preliminary NAIC Designation cannot be used to report the ETF to state insurance regulators. However, the purchasing insurance company may obtain an NAIC Designation for the ETF by filing the security and final documents for the ETF with the SVO. The indication of probable regulatory treatment indicated by a Preliminary NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

NAIC Designations are the intellectual property of the National Association of Insurance Commissioners (NAIC) and are redistributed here under License. An NAIC Designation is a proprietary symbol used by the NAIC Securities Valuation Office (SVO) to denote a category or band of credit risk (i.e., the likelihood of repayment in accordance with a written contract) for an issuer or for a security. NAIC Designations may be notched up or down to reflect the position of a specific liability in the issuer’s capital structure and/or the existence of other non-payment risk in the specific security. Under NAIC reporting rules, shares of an ETF are presumed to be reportable as common stock. The SVO may classify an ETF as a bond or preferred stock and assign it an NAIC Designation if it meets defined criteria. For a discussion of these criteria please call the SVO or refer to the Purposes and Procedures Manual of the NAIC Securities Valuation Office. The assignment of an NAIC Designation is not a recommendation to purchase the ETF and is not intended to convey approval or endorsement of the ETF Sponsor or the ETF by the NAIC.

Investing involves risk, including the possible loss of principal. Preferred stock is subject to many of the risks associated with debt securities, including interest rate risk. In addition, preferred stock may not pay a dividend, an issuer may suspend payment of dividends on preferred stock at any time, and in certain situations, an issuer may call or redeem its preferred stock or convert it to common stock. High yielding stocks are often speculative, high-risk investments. These companies can be paying out more than they can support and may reduce their dividends or stop paying dividends at any time, which could have a material adverse effect on the stock price of these companies and the Fund’s performance. PFFD is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Since the Fund’s shares did not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares, the NAV of the Fund is used to calculate market returns.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by ICE Data Indices, LLC, nor does ICE Data Indices, LLC make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with ICE Data Indices, LLC.