PFFV

Variable Rate Preferred ETF

Morningstar Rating™ - Overall rating out of 65 Preferred Stock funds, based on risk-adjusted returns as of 04/30/24

Overview Prices & Performance Holdings & Characteristics Documents

Reasons to Consider PFFV

High Income Potential

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

Low Expense Ratio

PFFV’s expense ratio is half the competitor average.¹

Lower Duration Nature

Variable rate preferreds may offer lower duration profiles than fixed rate preferred issuances.

¹Expense ratio was 50.0% lower than the competitor average net expense ratio as of 4/1/24, per ETF.com (category: “Fixed Income: U.S. Corporate, Preferred Floating Rate”)

Key Information As of 05/10/24

Inception Date	06/22/20
Total Expense Ratio	0.25%
Net Assets	$246.00 million
NAV	$23.50

ETF Summary

The Global X Variable Rate Preferred ETF (PFFV) invests in a broad basket of U.S. variable rate preferred stocks, providing benchmark-like exposure to the asset class. Variable rate preferreds can play a role in an investor’s portfolio as a source of income with less interest rate risk, offering the potential to mitigate the risks of rising interest rates due to coupon payments that adjust at certain points over their lifespan.

ETF Objective

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

Trading Details As of 05/10/24

Ticker	PFFV
B3 Trading Code	BPFV39
Bloomberg Index Ticker	PFTF
CUSIP	37954Y376
ISIN	US37954Y3760
Primary Exchange	NYSE Arca
Shares Outstanding	10,470,000
Number of Holdings	61
30-Day Median Bid-Ask Spread	0.13%

Distributions As of 05/10/24

30-Day SEC Yield	7.84%
12-Month Trailing Yield	7.42%
Distribution Yield	6.66%
Distribution Frequency	Monthly

ETF Prices As of 05/10/24

NAV	$23.50	Daily Change	$0.06	0.26%
Market Price	$23.50	Daily Change	$0.06	0.26%

Cumulative Returns (as of 04/30/24)	1 Month	6 Months	YTD	12 Months	24 Months	Since Inception	Inception Date
Return PFFV	-0.42%	9.92%	3.04%	10.02%	7.06%	18.29%	06/22/20

Returns (as of 05/10/24)	Return PFFV	Return Index
Since Inception	19.77%	20.75%
12 Months	14.29%	14.51%
24 Months	10.41%	10.56%
Last 60 Trading Days	1.75%	1.75%
Last 75 Trading Days	1.84%	1.87%

Monthly Returns (through 05/10/24)	Return PFFV	Return Index
May 2024	1.25%	1.26%
Apr 2024	-0.42%	-0.38%
Mar 2024	-0.13%	-0.18%
Feb 2024	1.18%	1.16%
Jan 2024	2.40%	2.51%
Dec 2023	1.26%	1.26%
Nov 2023	5.35%	5.41%
Oct 2023	-3.19%	-3.16%
Sep 2023	0.55%	0.56%
Aug 2023	0.46%	0.45%
Jul 2023	3.04%	3.02%
Jun 2023	1.91%	1.96%
May 2023	-2.53%	-2.52%
Apr 2023	0.43%	0.45%
Mar 2023	-5.26%	-5.30%
Feb 2023	0.37%	0.39%
Jan 2023	8.52%	8.42%
Dec 2022	-3.86%	-3.82%
Nov 2022	5.14%	5.12%
Oct 2022	-1.85%	-1.85%
Sep 2022	-1.30%	-1.26%
Aug 2022	-3.65%	-3.67%
Jul 2022	4.69%	4.68%
Jun 2022	-3.18%	-3.18%
May 2022	-1.82%	-1.81%

Total returns take into account management, administration and fees and other costs automatically deducted from the fund's assets. Before investing, you may read the prospectus in the “FEES AND EXPENSES” section for more details.

NAV & Index Chart

Net Assets (%)	Ticker	Name	Country	SEDOL	Market Price ($)	Shares Held	Market Value ($)
5.16	GS	GS 6.25718 PERP	United States	B15CKS5	23.22	546,063	12,679,582.86
4.42	BAC	BAC 6.45 12/15/66	United States	BF2PL60	25.36	427,950	10,852,812.00
4.32	MS	MS 6.29017 PERP	United States	B1802M4	22.91	463,754	10,624,604.14
3.46	ATH	ATH 6.35 PERP	United States	BPSKDY1	24.05	353,335	8,497,706.75
3.44	USB	USB 6.19017 PERP	United States	B125QN4	20.49	412,029	8,442,474.21
3.03	RGA	RGA 7 1/8 10/15/52	United States	BMG9SY4	26.18	284,364	7,444,649.52
2.99	NLY	NLY 10.5565 PERP	United States	BD0B1Y4	25.59	286,908	7,341,975.72
2.93	GS	GS 6.33718 PERP	United States	B07GC93	23.25	309,795	7,202,733.75
2.68	APO	APO 7 5/8 09/15/53	United States	BQC5ZW1	26.73	246,884	6,599,209.32
2.47	MET	MET 6.59088 PERP	United States	B0B87W3	24.58	246,948	6,069,981.84
2.46	ATH	ATH 6 3/8 PERP	United States	BMG0ZK2	24.96	241,841	6,036,351.36
2.37	WCC	WCC 10 5/8 PERP	United States	BLFBXS3	26.60	219,345	5,834,577.00
2.36	JXN	JXN 8 PERP	United States	BMW6VL7	26.00	222,960	5,796,960.00
2.25	KEY	KEY 6.2 PERP	United States	BPLPQT9	22.69	243,292	5,520,295.48
2.23	ALL	ALL 8.75516 01/15/53	United States	B87XV26	26.28	208,916	5,490,312.48
2.20	ATH	ATH 7 3/4 PERP	United States	BPLKV33	26.42	204,385	5,399,851.70
2.13	USB	USB 6.61017 PERP	United States	B617Z40	860.00	6,094	5,240,840.00
1.98	BANC	BANC 7 3/4 PERP	United States	BMWDYS6	23.39	207,779	4,859,950.81
1.97	FITB	FITB 9.30177 PERP	United States	BH58353	25.59	189,173	4,840,937.07
1.95	KEY	KEY 6 1/8 PERP	United States	BYQR0N5	23.77	202,032	4,802,300.64
1.82	RF	RF 5.7 PERP	United States	BJMXZX7	22.28	200,483	4,466,761.24
1.79	RITM	RITM 7 PERP	United States	BMHVDC2	22.77	193,398	4,403,672.46
1.78	CHSINC	CHSINC 9.85784 PERP	United States	BKJ9QV0	25.76	169,594	4,368,741.44
1.75	NLY	NLY 9.73552 PERP	United States	BF4M2M2	25.33	169,540	4,294,448.20
1.74	ESGR	ESGR 7 PERP	United States	BFXXB52	25.45	168,345	4,284,380.25
1.63	RGA	RGA 5 3/4 06/15/56	United States	BYT3Q98	25.13	159,373	4,005,043.49
1.60	NSUS	NSUS 12.3242 01/15/43	United States	B8S0HY0	25.34	154,807	3,922,809.38
1.54	BAC	BAC 6.07563 PERP	United States	B1VN1F6	22.23	170,511	3,790,459.53
1.51	NSUS	NSUS 11.2342 PERP	United States	BF0XV77	25.53	145,410	3,712,317.30
1.51	NYCB	NYCB 6 3/8 PERP	United States	BYVLYP2	17.36	213,284	3,702,610.24
1.44	AGNC	AGNC 10.7012 PERP	United States	BDH3TH2	25.66	137,480	3,527,736.80
1.36	HBAN	HBAN 6 7/8 PERP	United States	BQMS207	24.79	135,042	3,347,691.18
1.33	CIM	CIM 11.3545 PERP	United States	BYYPKL9	24.93	131,499	3,278,270.07
1.25	NGL	NGL 12.7981 PERP	United States	BYSX804	24.34	125,986	3,066,499.24
1.22	VOYA	VOYA 5.35 PERP	United States	BJGS497	23.85	125,802	3,000,377.70
1.21	BAC NEW YORK	BAC 5.9186 PERP	United States	B1GH4Y3	23.65	125,716	2,973,183.40
1.21	WTFC	WTFC 6 7/8 PERP	United States	BMTCNN4	25.01	118,498	2,963,634.98
1.10	ASB	ASB 6 5/8 03/01/33	United States	BMX3XP5	22.32	121,544	2,712,862.08
1.10	BAC	BAC 6.24942 PERP	United States	B06H0T3	22.08	122,143	2,696,917.44
1.04	AL	AL 9.24088 PERP	United States	BJR4L26	25.43	100,068	2,544,729.24
1.01	MTB	MTB 5 5/8 PERP	United States	BPQT641	24.04	103,094	2,478,379.76
0.97	TWO	TWO 7 5/8 PERP	United States	BYZBR93	22.62	105,660	2,390,039.77
0.94	CIM	CIM 7 3/4 PERP	United States	BGHCHV0	21.60	107,251	2,316,621.60
0.90	WAL	WAL 4 1/4 PERP	United States	BNZJSP3	18.12	122,637	2,222,182.44
0.87	NSUS	NSUS 12.3572 PERP	United States	BYVQFR6	25.59	83,448	2,135,434.32
0.87	ABR	ABR 6 1/4 PERP	United States	BLR4KW3	19.34	110,147	2,130,242.98
0.86	SPNT	SPNT 8 PERP	United States	BMB63G7	25.50	82,480	2,103,240.00
0.84	SNV	SNV 8.93714 PERP	United States	BG1FRQ0	24.97	82,550	2,061,273.50
0.80	SLM	SLM 7.29088 PERP	United States	B0B87Z6	77.28	25,460	1,967,548.80
0.79	BAC	BAC 6.34942 PERP	United States	B0PR2S7	22.95	84,894	1,948,317.30
0.79	CIM	CIM 10.9014 PERP	United States	BHRS1F7	24.74	78,455	1,940,976.70
0.73	TVA	TVA 2.216 05/01/29	United States	2520249	21.52	82,877	1,783,513.04
0.68	NSUS	NSUS 12.4709 PERP	United States	BD1KJ79	25.59	65,326	1,671,692.34
0.60	ZION	ZION 9.83088 PERP	United States	B8GFK37	25.74	57,205	1,472,456.70
0.58	AGNC	AGNC 7 3/4 PERP	United States	BNC35P7	23.19	61,976	1,437,223.44
0.58	GPMT	GPMT 7 PERP	United States	BP4BX15	16.65	84,955	1,414,500.75
0.56	KMPR	KMPR 5 7/8 03/15/62	United States	BNW0GQ6	22.20	61,962	1,375,556.40
0.44	VLY	VLY 6 1/4 PERP	United States	BYNMCH1	22.53	47,613	1,072,720.89
0.42	VLY	VLY 9.14152 PERP	United States	BDGSY95	24.95	41,453	1,034,252.35
0.10		OTHER PAYABLE & RECEIVABLES	United States		1.00	248,575	248,574.53
-0.03		CASH	United States		1.00	-83,506	-83,506.02

Holdings are subject to change. "Cash" denotes U.S. dollars.

ETF Documents

Latest Premium / Discount As of 05/10/24

NAV	$23.50
Market Price	$23.50
Premium / (Discount)	$0.00

Current View 2024 Q2 As of 05/10/24

Days at Premium	12
Days at NAV	0
Days at Discount	18
Greatest Premium	0.31%
Greatest Discount	-0.27%

Daily Premium / Discount History As of 05/10/24

Hover over the chart points for details

View Chart Explanation

Download Chart Data (.CSV)

How can the Fund trade at a premium/discount to its NAV?

The primary explanation is that timing discrepancies can arise between the NAV and the trading price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

What causes these time discrepancies?

Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.

Time of Last Trade. Trading of Global X funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade - from which the closing price is determined - may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to deviate from the closing price.

International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.

Global X Brasil Gestora de Investimentos Ltda. (“Global X Brasil”) is an asset manager authorized by the Brazilian Securities and Exchange Commission (“CVM”), constituted in the form of CVM Resolution No. 21/2021. Investing involves risks. The material on this site is for informational purposes only and does not constitute investment advice, recommendation, offer or solicitation to buy or sell any securities, funds, or strategies to any person in any jurisdiction in which an offer, solicitation, purchase, or sale would be illegal under the securities laws of such jurisdiction. Opinions expressed here are subject to change without notice. Reliance upon the information contained in this material is at the sole discretion of the reader. No securities regulator has confirmed the accuracy of any information contained herein. Access to the information on this site or the use of the services or information provided herein is prohibited by any person or entity in any jurisdiction or country where such distribution or use is contrary to local law, rules, or regulation. Investment in index funds (ETFs) involves risks, including detachment from the benchmark index and related to the liquidity of shares in the secondary market. Investment funds managed by Global X Brasil use strategies that can result in significant equity losses for their quota holders. Global X Brasil, its partners and employees are exempt of responsibility for any damages resulting directly or indirectly from the use of the information contained on this website.

FOR EVALUATION OF THE PERFORMANCE OF AN INVESTMENT FUND, IT IS RECOMMENDED THE ANALYSIS OF AT LEAST 12 (TWELVE) MONTHS. INVESTMENT FUNDS DO NOT HAVE A GUARANTEE FROM THE ADMINISTRATOR, THE MANAGER, ANY INSURANCE MECHANISM OR CREDIT GUARANTEE FUND – FGC. INVESTMENTS IN FINANCIAL AND CAPITAL MARKETS ARE SUBJECT TO RISKS OF LOSS GREATER THAN THE TOTAL VALUE OF INVESTED CAPITAL. PAST PROFITABILITY DOES NOT REPRESENT A GUARANTEE OF FUTURE PROFITABILITY THE PROFITABILITY DISCLOSED IS NOT NET OF TAXES. READ THE PROSPECTUS, THE FORM OF COMPLEMENTARY INFORMATION, SHEET OF ESSENTIAL INFORMATION AND THE REGULATION BEFORE INVESTING. DESCRIPTION OF THE ANBIMA TYPE AVAILABLE IN THE FORM OF COMPLEMENTARY INFORMATION.