---
ticker: "PREF"
name: "Principal Spectrum Preferred Securities Active ETF"
url: "https://etf.net/etf/PREF"
grade: "B"
score: 59
graded_at: "2026-10-12"
category: "Preferred Securities"
category_rank: "10 of 31"
methodology: "https://etf.net/methodology"
---

# PREF: Principal Spectrum Preferred Securities Active ETF

Grade **B**, Score 59 of 100. Rank 10 of 31 in Preferred Securities.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 40 | 18 of 31 |
| Mission | 56 | 19 of 26 |
| Risk | 83 | 2 of 31 |
| Tradability | 82 | 5 of 31 |
| Holdings | 58 | 14 of 29 |
| Durability | 62 | 14 of 31 |

## Top holdings

The fund holds 181 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Bank of America Corp Jr Subordina 12/99 Var | 2.70% |
| 2 | — | Enbridge Inc Subordinated 01/84 Var | 2.28% |
| 3 | — | Metlife Inc Subordinated 03/56 Var | 2.12% |
| 4 | — | Toronto Dominion Bank Jr Subordina 10/82 Var | 1.91% |
| 5 | — | Pnc Financial Services Jr Subordina 12/99 Var | 1.81% |
| 6 | — | JPMorgan Chase & Co Jr Subordina 12/99 Var | 1.77% |
| 7 | — | Charles Schwab Corp Jr Subordina 12/99 Var | 1.74% |
| 8 | — | Bank of Nova Scotia Jr Subordina 10/82 Var | 1.68% |
| 9 | — | M+t Bank Corporation Jr Subordina 12/99 Var | 1.59% |
| 10 | — | Bank of America Corp Jr Subordina 12/99 Var | 1.55% |
| 11 | — | Wells Fargo & Company Jr Subordina 12/99 Var | 1.46% |
| 12 | — | Bank of Nova Scotia Jr Subordina 10/85 Var | 1.45% |
| 13 | — | Huntington Bancshares Jr Subordina 12/99 Var | 1.42% |
| 14 | — | Metlife Inc Jr Subordina 144A 04/68 9.25 | 1.42% |
| 15 | — | Truist Financial Corp Jr Subordina 12/99 Var | 1.36% |
| 16 | — | Prudential Financial Inc Jr Subordina 10/50 Var | 1.34% |
| 17 | — | Wells Fargo & Company Jr Subordina 12/99 Var | 1.32% |
| 18 | — | Energy Transfer Lp Jr Subordina 02/56 Var | 1.32% |
| 19 | — | Electricite De France SA Jr Subordina 144A 12/99 Var | 1.28% |
| 20 | — | JPMorgan Chase & Co Jr Subordina 12/99 Var | 1.26% |
| 21 | — | Meiji Yasuda Life Insura Subordinated 144A 06/55 Var | 1.19% |
| 22 | — | Goldman Sachs Group Inc Jr Subordina 12/99 Var | 1.19% |
| 23 | — | Canadian Imperial Bank Jr Subordina 01/85 Var | 1.18% |
| 24 | — | Goldman Sachs Group Inc Jr Subordina 12/99 Var | 1.17% |
| 25 | — | Charles Schwab Corp Jr Subordina 12/99 Var | 1.17% |
| 26 | — | Bank of Montreal Jr Subordina 11/84 Var | 1.16% |
| 27 | — | Dominion Energy Inc Jr Subordina 05/55 Var | 1.14% |
| 28 | — | Wells Fargo & Company Jr Subordina 12/99 Var | 1.10% |
| 29 | — | Royal Bank of Canada Jr Subordina 11/85 Var | 1.10% |
| 30 | — | Bp Capital Markets PLC Company Guar 12/99 Var | 1.09% |

Source: etf.net, https://etf.net/etf/PREF. Please cite the page URL.