iShares Preferred and Income Securities ETF Company profile
The investment seeks to track the investment results of the ICE Exchange- Listed Preferred & Hybrid Securities Index, which measures the performance of a select group of exchange-listed, U.S. dollar-denominated preferred securities, hybrid securities and convertible preferred securities listed on the NYSE or NASDAQ.The fund may invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. This ETF offers investors exposure to preferred stock, an interesting segment of the capital markets that most investors do not have a lot of exposure to. Due to this preferred stock could be appropriate for those seeking to boost yields in a portfolio or for those looking for less risky forms of equity exposure that are relatively absent from broad portfolios of stocks. PFF is reasonably diversified by both sector and in terms of total number of holdings; the fund has just under 250 securities and is heavily weighted towards the financial industry although other sectors do comprise nearly 20% of the fund as well.
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