Global X - Variable Rate Preferred ETF
$21.84−0.04 (−0.18%)
- Expense ratio
- 0.25%
- Fund size
- $322M
- 1Y return
- +1.7%
- Yield · Last 12 months
- 8.14%
- Holdings
- 58
- Volume · 30D
- 0.1M sh
- NAV per share
- $21.90
- 52W range
The ETF.net PFFV Grade
Score 70 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 93Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.BScore 65Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 59Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 66Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.CScore 43Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 63Category rank
Our read on PFFV
AMost preferred funds hand you a fixed coupon and a lot of rate sensitivity. PFFV screens for variable-rate preferreds only, so coupons reset off short-term benchmarks instead of standing still, at 0.25% a year with monthly payouts.
The fund seeks to provide investment results generally corresponding to the price and yield performance of the ICE U.S. Variable Rate Preferred Securities Index before fees and expenses.
Why people hold it
- Costs 0.25% a year, about half the typical preferred ETF fee and a fraction of what an actively run peer like FPE charges (0.83%).
- The whole point: an index of variable-rate preferreds, whose coupons reset off short-term benchmarks rather than locking in for the life of the security.
- Passive and plain-vanilla. Roughly 60 US preferred issues picked by published index rules, with income paid out monthly.
- Stacks up as one of the stronger builds in a crowded preferred-ETF field, mostly on cost and a clean, rules-based mandate.
Worth knowing
- Preferred issuance skews to banks and insurers, so this is concentrated financials credit in bond clothing, spread across only about 60 positions.
- Resets cut both ways. The same floating mechanism that lifts coupons when short-term rates climb also drags them down when rates fall.
- Moderately traded and mid-sized rather than a heavyweight, so bid-ask spreads matter more here than in the largest preferred funds.
PFFV Holdings
- Bonds
- 58
- 30%
- MS 4.71453 PERP (B1802M4)
Sectors
- Utilities100.0%
Geography
- United States98.20%
- Canada1.80%
PFFV Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | PFFV |
|---|---|
| Year to date | +3.3% |
| 1 month | +0.0% |
| 3 months | +1.0% |
| 1 year | +1.7% |
| 3 years | +6.1% |
| 5 years | +1.9% |
| 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 | PFFV |
|---|---|---|
| 2026 YTD | +3.3% | |
| 2025 | +2.1% | |
| 2024 | +9.4% | |
| 2023 | +10.7% | |
| 2022 | −13.8% | |
| 2021 | +6.4% | |
| 2020 | +13.6% |
PFFV in the news
ETF.net Research hasn’t filed on PFFV yet — coverage lands here as it’s written.
PFFV Dividends
- 8.14%
- $1.78
- $0.13 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 1, 2026 | Sep 4, 2026 | $0.13 |
| Aug 3, 2026 | Aug 6, 2026 | $0.13 |
| Jul 1, 2026 | Jul 7, 2026 | $0.13 |
| Jun 1, 2026 | Jun 4, 2026 | $0.13 |
| May 1, 2026 | May 6, 2026 | $0.13 |
| Apr 1, 2026 | Apr 7, 2026 | $0.13 |
| Mar 2, 2026 | Mar 5, 2026 | $0.13 |
| Feb 2, 2026 | Feb 5, 2026 | $0.14 |
| Dec 30, 2025 | Jan 7, 2026 | $0.31 |
| Dec 1, 2025 | Dec 8, 2025 | $0.14 |
| Nov 3, 2025 | Nov 10, 2025 | $0.14 |
| Oct 1, 2025 | Oct 8, 2025 | $0.14 |
PFFV Risk
- 5.6%
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.
- 0.32
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.
- −18.9%
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.
- 0.42
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PFFV Cost
- The middle half of Preferred Securities funds
- Median 0.50%
2 of the 31 Preferred Securities funds charge less.