Deep Dive
Financials drop 2.4% after the Fed's first hike since 2023 and a Bank of America fee warning
Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF
$47.94+0.07 (+0.14%)
- 0.45%
- $168M
- −0.8%
- 5.87%
- 0M sh
- $47.86
- low $47.60high $52.41
The ETF.net GPRF Grade
B
Score 59 out of 100
- 10 of 31
Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A75 out of 100Rank 6 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.C48 out of 100Rank 23 of 26Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C52 out of 100Rank 17 of 31Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C48 out of 100Rank 15 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A84 out of 100Rank 2 of 29Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D38 out of 100Rank 23 of 31
Our read on GPRF
BGoldman's 2024 entry into preferred stock: roughly 400 U.S. preferreds and hybrids, the slice of the market that sits between bonds and common shares, bundled at 0.45% a year and paid out monthly.
Invests primarily in U.S. preferred stocks and hybrid securities.
Why people hold it
- At 0.45% a year it sits at the cheap end of the preferred aisle, matching State Street's PSK and running well under actively run options like FPE at 0.83%.
- Roughly 400 positions spread the credit exposure across many issuers rather than a handful of big deals, and the portfolio build is a strength versus preferred-fund peers.
- Income lands monthly, not quarterly, which is the cadence most preferred-stock buyers are actually after.
- A rules-based index basket of U.S. preferreds and hybrids: one ticket instead of hunting individual bank and utility issues on a thin over-the-counter desk.gsam.com
Worth knowing
- Still a small fund and lightly traded next to the category's giants, so spreads can be wider and limit orders matter more, especially around the open and close.
- Launched in 2024, so it carries a shorter live record than the decade-plus incumbents in preferreds.
- Preferreds are treated as fixed income here: prices move on interest rates and issuer credit, so this is an income sleeve rather than an equity growth holding.
GPRF Holdings
- Bonds
- 536
- 7%
- Bp Capital Markets P.l.c. 4.88% 12/22/2174
Sectors
- Financials74.9%
- Utilities9.8%
- Real Estate6.4%
- Communication5.9%
- Consumer Discretionary2.0%
- Industrials0.9%
- Energy0.2%
Geography
- United States98.38%
- Bermuda1.09%
- Canada0.34%
- Netherlands0.19%
GPRF Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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GPRF$9,921
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | GPRF |
|---|---|
| Year to date | −1.2% |
| 1 month | −1.5% |
| 3 months | −2.6% |
| 1 year | −0.8% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | GPRF |
|---|---|---|
| 2026 YTD | −1.2% | |
| 2025 | +6.2% | |
| 2024 | +2.4% |
GPRF in the news
GPRF Dividends
- 5.87%
- $2.81
- $0.27 per share
- Monthly
Distribution history
GPRF Risk
- 4.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.37
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −4.4%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.24
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GPRF Cost
0.45%
GPRF0.45%
- The middle half of Preferred Securities funds
- Median 0.50%
5 of the 31 Preferred Securities funds charge less.
Other funds in Preferred Securities
- BJHPIJohn Hancock Investments - Preferred Income ETFExpense ratio 0.54%1 year return −0.4%
- BFPEFirst Trust Preferred Securities and Income ETFExpense ratio 0.83%1 year return −0.5%
- BPREFPrincipal Spectrum Preferred Securities Active ETFExpense ratio 0.55%1 year return +1.4%
- BCSSDCohen & Steers Short Duration Preferred and Income Active ETFExpense ratio 0.49%1 year return —
- BHBRDInvesco U.S. Hybrid Bond ETFExpense ratio 0.40%1 year return —