EVPF vs PFXF

EVPFBEaton Vance Preferred Securities and Income ETF

PFXFBVanEck Preferred Securities ex Financials ETF

In short

EVPF Eaton Vance's preferred-securities team, ETF-wrapped: an active, concentrated run at the preferred and hybrid market for 0.39% a year, under the category's median fee. Active stock-picking in a corner usually sold by the index.

PFXF Most preferred funds are a bank bet in disguise, since financials dominate the preferred market. PFXF screens them out and tracks a non-financial preferred index instead, a niche it has held since 2012.

Stated mandate

EVPF The Fund seeks total return and current income, primarily through preferred securities and other income-producing securities.

PFXF The Fund seeks to track, before fees and expenses, the price and yield performance of its named ICE preferred-securities index.

Why people hold it

• EVPF Active in a category built on indexes: Eaton Vance's fundamental team picks across preferred and hybrid securities instead of owning whatever a benchmark lists.morganstanley.com
• At 0.39% a year, with no waiver propping it up, it undercuts index heavyweights PFF and PSK (0.45% each) and sits below the category median. Rare pricing for an active mandate.
• Income is the mandate, not a byproduct: total return plus current income from preferred securities, with distributions declared monthly under the prospectus.
• For a fund launched in 2026, the package lands in the upper tier of the roughly thirty US preferred ETFs on cost and mandate clarity.

• PFXF The whole idea in one line: no bank or insurer preferreds. The index keeps utilities, REITs and industrial issuers instead.vaneck.com
• Costs 0.40% a year, under the median for its index-tracking peer group, and distributions come monthly.
• Trading since 2012, over a billion dollars in assets and actively traded. A settled option, not a fresh launch chasing a theme.
• Straightforward plumbing: passive index tracking, roughly 120 preferreds, at least 80% of assets in benchmark securities. Upper half of its index-wrapper peer group.

Worth knowing

• EVPF Born March 2026, so there is no multi-cycle record of how the managers steer through a rate shock or a credit wobble.
• Smaller and thinner-traded than the category's index incumbents, so bid-ask spreads can run wider than in the biggest preferred funds.
• About 80 positions in preferred and hybrid securities, a rate- and credit-sensitive corner that ranks below bonds in the capital stack.sec.gov

• PFXF Cutting financials shifts the concentration rather than removing it: utilities, REITs and industrial issuers carry the weight.vaneck.com
• 0.40% is normal for preferreds, steep beside plain stock index wrappers like SCHK (0.03%) or VOOV (0.07%).
• Preferreds are rate-sensitive and sit below bonds in the capital stack, and VanEck discloses that payouts can include return of capital.

Full EVPF profile⁠

Full PFXF profile⁠