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Trending ETFs

Principal Spectrum Preferred Securities Active ETF

Active ETF
PREF
Payout Change
Pending
Price as of:
$17.72 +0.05 +0.28%
primary theme
Preferred Stock
PREF (ETF)

Principal Spectrum Preferred Securities Active ETF

Payout Change
Pending
Price as of:
$17.72 +0.05 +0.28%
primary theme
Preferred Stock
PREF (ETF)

Principal Spectrum Preferred Securities Active ETF

Payout Change
Pending
Price as of:
$17.72 +0.05 +0.28%
primary theme
Preferred Stock

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$17.72

$367 M

4.70%

$0.83

0.55%

Vitals

YTD Return

-5.4%

1 yr return

-7.2%

3 Yr Avg Return

3.0%

5 Yr Avg Return

N/A

Net Assets

$367 M

Holdings in Top 10

26.0%

52 WEEK LOW AND HIGH

$20.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.55%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 12.60%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund

Investment Style

Preferred Stock


Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$17.72

$367 M

4.70%

$0.83

0.55%

PREF - Profile

Distributions

  • YTD Total Return -12.6%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Monthly
  • Net Income Ratio 3.43%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Principal Spectrum Preferred Securities Active ETF
  • Fund Family Name
    Principal Funds
  • Inception Date
    Jul 10, 2017
  • Shares Outstanding
    20050005
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Manu Krishnan

Fund Description

Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in preferred securities at the time of purchase. Examples of preferred securities include preferred stock, certain depositary receipts, and various types of junior subordinated debt (such debt generally includes the contractual ability to defer payment of interest without accelerating an immediate default event). It concentrates its investments (invests more than 25% of its net assets) in securities in one or more industries within the financial services sector.


PREF - Performance

Return Ranking - Trailing

Period PREF Return Category Return Low Category Return High Rank in Category (%)
YTD -5.4% -18.9% 0.3% 30.17%
1 Yr -7.2% -13.3% 13.2% 80.77%
3 Yr 3.0%* -2.3% 12.1% 51.85%
5 Yr N/A* -0.5% 13.1% N/A
10 Yr N/A* 3.7% 8.7% N/A

* Annualized

Return Ranking - Calendar

Period PREF Return Category Return Low Category Return High Rank in Category (%)
2021 -1.9% -3.4% 17.2% 80.22%
2020 -79.5% -79.5% 9.0% 100.00%
2019 11.8% 6.4% 28.5% 57.14%
2018 -10.2% -15.2% -3.8% 56.34%
2017 N/A -7.3% 19.0% N/A

Total Return Ranking - Trailing

Period PREF Return Category Return Low Category Return High Rank in Category (%)
YTD -12.6% -19.0% 0.3% 67.24%
1 Yr -7.2% -13.3% 16.6% 77.95%
3 Yr 3.0%* -3.3% 12.1% 55.75%
5 Yr N/A* -2.3% 13.1% N/A
10 Yr N/A* 3.0% 8.7% N/A

* Annualized

Total Return Ranking - Calendar

Period PREF Return Category Return Low Category Return High Rank in Category (%)
2021 -1.9% -3.4% 17.2% 80.22%
2020 2.7% -24.8% 9.0% 12.50%
2019 11.8% 6.4% 28.5% 61.04%
2018 -10.2% -14.9% -1.8% 70.42%
2017 N/A -5.0% 20.6% N/A

PREF - Holdings

Concentration Analysis

PREF Category Low Category High PREF % Rank
Net Assets 367 M 12.9 M 16.3 B 57.78%
Number of Holdings 81 27 503 64.39%
Net Assets in Top 10 94.4 M 2.06 K 2.47 B 39.39%
Weighting of Top 10 25.98% 12.4% 46.6% 47.73%

Top 10 Holdings

  1. Dominion Energy Inc 4.65% 3.47%
  2. Cloverie Plc Secd Mtn FRN 5.62% 3.34%
  3. Argentum Netherlands B.V. 5.62% 3.27%
  4. United States Treasury Bonds 1.12% 3.18%
  5. AXA 6.38% 3.13%
  6. Wells Fargo & Company 3.9% 2.92%
  7. Truist Financial Corporation 4.8% 2.90%
  8. Huntington Bancshares Incorporated 5.62% 2.71%
  9. The Bank of New York Mellon Corporation 3.7% 2.69%
  10. The Charles Schwab Corporation 4% 2.64%

Asset Allocation

Weighting Return Low Return High PREF % Rank
Bonds
84.09% 0.00% 84.09% 0.76%
Convertible Bonds
10.72% 0.00% 31.65% 42.42%
Preferred Stocks
3.84% 2.19% 116.18% 96.21%
Cash
1.35% -29.79% 5.82% 41.67%
Stocks
0.00% -2.11% 34.04% 89.39%
Other
0.00% -0.16% 11.06% 88.64%

Bond Sector Breakdown

Weighting Return Low Return High PREF % Rank
Corporate
98.65% 59.94% 100.00% 48.48%
Cash & Equivalents
1.35% 0.00% 9.64% 42.42%
Derivative
0.00% 0.00% 13.12% 93.18%
Securitized
0.00% 0.00% 0.02% 87.12%
Municipal
0.00% 0.00% 0.00% 87.12%
Government
0.00% 0.00% 21.71% 96.97%

Bond Geographic Breakdown

Weighting Return Low Return High PREF % Rank
US
67.28% 0.00% 67.28% 0.76%
Non US
16.81% 0.00% 22.86% 21.21%

PREF - Expenses

Operational Fees

PREF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.55% 0.22% 2.45% 56.39%
Management Fee 0.55% 0.00% 1.00% 26.67%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

PREF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 2.25% N/A

Trading Fees

PREF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PREF Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 12.60% 12.00% 199.00% 6.76%

PREF - Distributions

Dividend Yield Analysis

PREF Category Low Category High PREF % Rank
Dividend Yield 4.70% 0.00% 8.05% 25.93%

Dividend Distribution Analysis

PREF Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PREF Category Low Category High PREF % Rank
Net Income Ratio 3.43% 0.88% 7.54% 69.05%

Capital Gain Distribution Analysis

PREF Category Low Category High Capital Mode
Capital Gain Distribution Frequency Monthly

Dividend Payout History

View More +

PREF - Fund Manager Analysis

Managers

Manu Krishnan


Start Date

Tenure

Tenure Rank

Jul 10, 2017

4.81

4.8%

Manu Krishnan joined Spectrum in 2004. Mr. Krishnan earned a B.S. in Mechanical Engineering from the College of Engineering, Osmania University, India, an M.S. in Mechanical Engineering from the University of Delaware, and an M.B.A. in Finance from Cornell University. Mr. Krishnan has earned the right to use the Chartered Financial Analyst designation.

Roberto Giangregorio


Start Date

Tenure

Tenure Rank

Jul 10, 2017

4.81

4.8%

Mr. Giangregorio joined Spectrum in 2003. Previously, he was an intern with the Cayuga MBA Fund LLC where he covered Utility Sector equities. He also worked for the Ford Motor Company for over eight years as an engine design engineer. Mr. Giangregorio holds a BS (Mechanical Engineering) from S.U.N.Y. at Stony Brook, a MS (Mechanical Engineering) from the University of Wisconsin-Madison and a MBA (Finance) with distinction from Cornell University.

L. Jacoby


Start Date

Tenure

Tenure Rank

Jul 10, 2017

4.81

4.8%

Mr. Jacoby joined Spectrum in 1995 as a Portfolio Manager and most recently held the position of Managing Director and Senior Portfolio Manager until his appointment as CIO on January 1, 2010, following the planned retirement of his predecessor. Prior to joining Spectrum, Mr. Jacoby was a Senior Investment Officer at USL Capital Corporation (a subsidiary of Ford Motor Corporation) and co-manager of the preferred stock portfolio of its US Corporate Financing Division for six years. Mr. Jacoby began his career in 1981 with The Northern Trust Company, Chicago and then moved to Los Angeles to join E.F. Hutton & Co. as a Vice President and Institutional Salesman, Generalist Fixed Income Sales through most of the 1980s. Mr. Jacoby holds a BSBA (Finance) from the Boston University School of Management.

Mark Lieb


Start Date

Tenure

Tenure Rank

Jul 10, 2017

4.81

4.8%

Prior to founding Spectrum in 1987, Mr. Lieb was a Founder, Director and Partner of DBL Preferred Management, Inc., a wholly owned corporate cash management subsidiary of Drexel Burnham Lambert, Inc. Mr. Lieb was instrumental in the formation and development of all aspects of DBL Preferred Management, Inc., including the daily management of preferred stock portfolios for institutional clients, hedging strategies, and marketing strategies. Mr. Lieb's prior employment included the development of the preferred stock trading desk at Mosley Hallgarten & Estabrook. Mr. Lieb holds a BA in Economics from Central Connecticut State College and a MBA (Finance) from the University of Hartford.

Satomi Yarnell


Start Date

Tenure

Tenure Rank

Aug 02, 2021

0.74

0.7%

Satomi Yarnell joined Spectrum in 2015. Ms. Yarnell earned a M.A. in Economics from Waseda University. Ms. Yarnell has earned the right to use the Chartered Financial Analyst designation and is a Chartered Member of Security Analyst Association of Japan (CMA).

Kevin Nugent


Start Date

Tenure

Tenure Rank

Nov 19, 2021

0.44

0.4%

Kevin Nugent joined Spectrum in 2012. Previously, Mr. Nugent had been a Guaranteed Introducing Broker with MF Global through Nugent Investment Group, LLC, since 2002. Additionally, since 2007 he has been a portfolio manager at Huntington Bay Capital Management and HFP Investment Management, with an emphasis on trading a proprietary volatility strategy for a hedge fund. He has held senior positions at Smith Barney, UBS and Prudential Securities where he developed low risk market strategies by using a proprietary trading model and statistical analysis. He also has extensive experience in developing various hedging strategies for commercial and institutional clients. Mr. Nugent graduated in 1981 with a Bachelor of Arts degree from Ohio Wesleyan University. He holds a Series 3 (National Commodities Futures) license. He is NASD Series 65 (Uniform Investment Advisor Law Examination) examination qualified.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 30.23 6.88 11.34