Key stats
About SPDR ICE Preferred Securities ETF
Expense ratio
0.45%
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Inception date
Sep 16, 2009
PSK provides broad exposure to preferred stocks in a viable wrapper. The fund will also include securities that are functionally equivalent to preferred stocks, such as depositary preferred securities, perpetual subordinated debt, and certain securities issued by banks and other financial institutions that are eligible for capital treatment similar to other preferred stock. The fund limits any single issue or issuer to a 5% weighting, thus limiting the weighting to big issuers that dominate the sector. As a result, PSK has a bit less exposure to heavyweights compared to some peers. Still, the effects are limited, as some issuers still dominate the portfolio. Investment-grade credits also play a leading role, but the fund does have high-yield exposure too.
Classification
What's in the fund
Exposure type
Finance
Stocks98.45%
Finance83.54%
Utilities9.55%
Consumer Durables2.90%
Communications1.83%
Government0.33%
Commercial Services0.29%
Bonds, Cash & Other1.55%
Mutual fund1.55%
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