Seeking AlphaT3·31mo ago
PFLD AAM Low Duration Preferred and Income Securities ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
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PFLD
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Key stats
About
AAM Low Duration Preferred and Income Securities ETF (PFLD) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2019-11-19
- Has Options
- No
Fund profile
holdings as of Jul 31, 2026SEC filingthrough Jul 2026flows, SEC filings
- Expense ratio
- 0.45% prospectus, filed Feb 27, 2026
- Assets
- $374M shares × price, Oct 20, 2026
- Trailing yield
- 5.56% paid monthly
- Average daily volume
- $1.6M 30 sessions
- Holdings
- 336 top 10 are 10.3%
- Listed
- Nov 19, 2019 NYSE Arca
- Last fee change
- -1 bp filed Feb 27, 2025
- Tracking difference
- -2.31 pts vs index, after fees, FY 2025
Cost28
Liquidity40
Scale58
Diversification100
Moves with. US large-cap stocks (10% of its variance, beta 0.07); Long Treasuries (6% of its variance, beta 0.07); Gold (5% of its variance, beta 0.02); Bitcoin (3% of its variance, beta 0.01). These factors explain 24% of its daily moves over the last year, so most of what drives this fund is something else.
Stated objective. The AAM Low Duration Preferred and Income Securities ETF (the Fund) seeks to track the total return performance, before fees and expenses, of the ICE 0-5 Year Duration Preferred & Hybrid Securities Index (the Index). (from the fund's prospectus)
All 336 holdingsFlow historySimilar fundsOverlap toolAll Preferred Stock ETFs
Fund flows
through Jul 2026SEC filings- Jul 2026
- −$7.8M latest reported month
- Latest 3 months
- −$12M −2.9% of assets
- Latest 12 months
- −$82M −20.1% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | −$7.8M |
| Jun 2026 | −$4.9M |
| May 2026 | +$981K |
| Apr 2026 | −$992K |
| Mar 2026 | −$8.8M |
| Feb 2026 | −$4.9M |
| Jan 2026 | −$13M |
| Dec 2025 | −$28M |
| Nov 2025 | −$3.9M |
| Oct 2025 | −$7.9M |
| Sep 2025 | −$1.9M |
| Aug 2025 | −$2.0M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 81 months ago
Similar funds
Look-through: what the holdings say
weights as of Jul 31, 2026SEC filing- Insider buying
- 0% of weight had net insider buying, 90 days; 0% net selling
- Reporting earnings
- 0.0% of weight in 7 days; 0.0% in 14
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Apr 30, 2026 → Jul 31, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | JPMORGAN CHASE & CO | — | 1.02% | — |
| Exit | CHARLES SCHWAB CORP | 0.97% | — | — |
| New position | CHARLES SCHWAB CORP | — | 0.71% | — |
| Exit | JPMORGAN CHASE & CO | 0.67% | — | — |
| Exit | ALLY FINANCIAL INC | 0.63% | — | — |
| Exit | JPMPDJPMORGAN CHASE & CO | 0.56% | — | — |
| New position | ALLY FINANCIAL INC | — | 0.48% | — |
| Exit | SCHWPDCHARLES SCHWAB CORP | 0.35% | — | — |
| New position | ALLPJALLSTATE CORP | — | 0.30% | — |
| Exit | GOLDMAN SACHS GROUP INC | 0.30% | — | — |
13 new, 16 exited, 4 increased and 26 decreased between the fund's two latest holdings reports; turnover 10.3%. Full holdings and history
Under the hood
fiscal year to Oct 31, 2025SEC census- Authorized participants
- 6 active of 6 with agreements; top 3 did 75%
- Created · redeemed
- $127M · $37M over the fiscal year
- Redemptions in kind
- 96% creations 99% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 1.21% of assets on loan on average; earned 1.1 bp
- Return vs index
- -2.31 pts after fees; -1.86 before; daily s.d. 1.64
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-07-31
Holdings
336
AUM
$430.9M
Provider
Nport
Inception
2019-11-19
Exchange
ARCX
Data As Of
2026-07-31
Expense Ratio
0.45%
Dividend Yield
5.55%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-09-30 | 2026-10-02 | $0.0900 | CD |
| 2026-08-28 | 2026-09-01 | $0.0900 | CD |
| 2026-07-31 | 2026-08-04 | $0.0900 | CD |
| 2026-06-30 | 2026-07-02 | $0.0900 | CD |
| 2026-05-29 | 2026-06-02 | $0.0850 | CD |
| 2026-04-30 | 2026-05-04 | $0.0850 | CD |
Asset Allocation
Top Holdings
top 50 of 336 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | Mount Vernon Liquid Assets Portfolio, LLC | 5.67% | Short-term investment | US |
| — | BP CAPITAL MARKETS PLC | 1.15% | Debt | GB |
| — | GOLDMAN SACHS GROUP INC | 1.10% | Equity (preferred) | US |
| — | CVS HEALTH CORP | 1.09% | Debt | US |
| — | WELLS FARGO & COMPANY | 1.07% | Equity (preferred) | US |
| — | JPMORGAN CHASE & CO | 1.04% | Equity (preferred) | US |
| — | JPMORGAN CHASE & CO | 1.02% | Equity (preferred) | US |
| — | CHARLES SCHWAB CORP | 0.98% | Equity (preferred) | US |
| — | WELLS FARGO & COMPANY | 0.98% | Equity (preferred) | US |
| — | VODAFONE GROUP PLC | 0.98% | Debt | GB |
| — | GOLDMAN SACHS GROUP INC | 0.90% | Equity (preferred) | US |
| — | BANK OF AMERICA CORP | 0.89% | Equity (preferred) | US |
| — | JPMORGAN CHASE & CO | 0.82% | Equity (preferred) | US |
| — | TRUIST FINANCIAL CORP | 0.80% | Equity (preferred) | US |
| — | AMERICAN EXPRESS CO | 0.76% | Equity (preferred) | US |
| — | GOLDMAN SACHS GROUP INC | 0.74% | Equity (preferred) | US |
| — | CITIGROUP INC | 0.73% | Equity (preferred) | US |
| — | PNC FINANCIAL SERVICES | 0.73% | Equity (preferred) | US |
| — | BANK OF AMERICA CORP | 0.72% | Equity (preferred) | US |
| — | STATE STREET CORP | 0.72% | Equity (preferred) | US |
| — | PNC FINANCIAL SERVICES | 0.72% | Equity (preferred) | US |
| — | PG&E CORP | 0.71% | Debt | US |
| — | CHARLES SCHWAB CORP | 0.71% | Equity (preferred) | US |
| — | NEXTERA ENERGY CAPITAL | 0.70% | Debt | US |
| — | Invesco Government & Agency Po | 0.70% | Short-term investment | US |
| — | TRANSCANADA TRUST | 0.70% | Debt | CA |
| — | US BANCORP | 0.69% | Equity (preferred) | US |
| — | DOMINION ENERGY INC | 0.68% | Debt | US |
| — | CITIGROUP INC | 0.68% | Equity (preferred) | US |
| — | AMERICAN ELECTRIC POWER | 0.67% | Debt | US |
| — | BANK OF AMERICA CORP | 0.66% | Equity (preferred) | US |
| — | BANK OF NY MELLON CORP | 0.60% | Equity (preferred) | US |
| — | PNC FINANCIAL SERVICES | 0.58% | Equity (preferred) | US |
| JPMPC | JPMORGAN CHASE & CO | 0.58% | Equity (preferred) | US |
| JFAIF | JPMORGAN CHASE & CO | 0.58% | Equity (preferred) | US |
| — | PRUDENTIAL FINANCIAL INC | 0.58% | Debt | US |
| — | BANK OF AMERICA CORP | 0.58% | Equity (preferred) | US |
| — | ENTERGY CORP | 0.57% | Debt | US |
| — | ENERGY TRANSFER LP | 0.56% | Debt | US |
| — | CITIGROUP INC | 0.55% | Equity (preferred) | US |
| — | SEMPRA | 0.52% | Debt | US |
| — | ROGERS COMMUNICATIONS IN | 0.51% | Debt | CA |
| — | TRANSCANADA TRUST | 0.50% | Debt | CA |
| — | PACIFICORP | 0.50% | Debt | US |
| — | JPMORGAN CHASE & CO | 0.50% | Equity (preferred) | US |
| GSPD | GOLDMAN SACHS GROUP INC | 0.49% | Equity (preferred) | US |
| — | CITIGROUP INC | 0.48% | Equity (preferred) | US |
| — | PNC FINANCIAL SERVICES | 0.48% | Equity (preferred) | US |
| — | BANK OF AMERICA CORP | 0.48% | Equity (preferred) | US |
| — | BANK OF NY MELLON CORP | 0.48% | Equity (preferred) | US |
Non-Equity Breakdown
AAM Low Duration Preferred and Income Securities ETF ·
NPORT-P period 2026-07-31
(filed 2026-09-29)
Net assets:
$410M
· 336 total positions
· equity 60.01%
· non-equity 44.96%
Non-equity holdings
— 110 positions,
44.96% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Corporate | 37.71% | $154.8M | 103 |
| Short-term investment | 6.37% | $26.2M | 2 |
| US Govt Agency | 0.89% | $3.6M | 5 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -0.80% | -2.00% | 6.04% | 1.15% | -0.34% | 0.43% | 0.75% |
| Feb | -0.50% | -2.65% | -0.68% | -0.05% | 1.61% | -0.35% | -0.44% |
| Mar | 1.57% | 0.08% | -3.53% | 0.00% | -3.07% | -1.63% | -1.10% |
| Apr | 0.55% | -3.59% | -0.80% | -1.79% | -1.43% | 0.82% | -1.04% |
| May | -0.18% | 0.84% | -2.11% | 1.20% | -1.36% | -0.41% | -0.34% |
| Jun | 0.70% | -2.67% | 1.36% | -0.73% | 0.20% | -0.51% | -0.27% |
| Jul | -0.20% | 2.72% | 0.97% | 0.00% | -0.08% | -0.74% | 0.45% |
| Aug | -0.55% | -3.17% | -0.38% | -0.19% | -0.10% | -0.15% | -0.76% |
| Sep | -0.26% | -2.92% | -1.00% | 1.19% | 0.47% | -1.89% | -0.73% |
| Oct | 0.08% | -3.08% | -3.43% | -0.05% | -0.20% | 0.10%* | -1.10% |
| Nov | -1.89% | 3.27% | 2.81% | 0.00% | 0.05% | -- | 0.85% |
| Dec | 1.05% | -3.45% | -0.43% | -2.23% | -0.43% | -- | -1.10% |
| Total | -0.48% | -15.70% | -1.55% | -1.55% | -4.65% | -4.28% | -4.70% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $19.17
SMA 50: $19.36
SMA 200: $19.56
Current: $19.12
EMA 12: $19.15
EMA 26: $19.22
MACD: -0.0667 | Signal: 0.0031
BEARISH
ADX (14): 30.02
TREND
+DI: 16.15
−DI: 20.01
Momentum Oscillators
RSI (14): 40.84
NEUTRAL
Stoch %K: 22.48
Stoch %D: 28.04
Williams %R: -67.86
Volume & Volatility
BB Upper: $19.29
BB Lower: $19.05
NEUTRAL
OBV: -3,393,145
Vol SMA 20: 66,631
Vol ROC: -33.55%
ATR: $0.08
True Range: $0.13
HV 20: 4.5%
HV 30: 4.9%
HV 60: 3.8%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report: PFLD
Executive Summary
Overall assessment: NEUTRAL with confidence level (6/10)
Key drivers:
- Consolidation phase after recent price drop
- Low volatility, indicating reduced risk
Primary risks:
- Lack of recent news and earnings catalysts
- Potential for further consolidation or sideways movement
Investment thesis: PFLD is a low-volatility stock with a stable trend, but lacks recent catalysts to drive significant price movements. As such, it may be suitable for investors seeking defensive positions.
Recent news sentiment impact: None, as no recent news headlines are available.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): Sideways/Consolidation; Medium-term (1-3 months): Uptrend; Long-term (3-12 months): Uptrend
Support/Resistance Levels:
- Lower Bollinger Band: $19.61
- Middle Bollinger Band: $19.72
- Upper Bollinger Band: $19.84
Momentum Signals:
- RSI interpretation: Neutral (48.46)
- MACD signal: Bearish (MACD histogram below the zero line)
- Bollinger Bands position: Squeeze (price touching lower band)
Volume Analysis: Volume trends indicate reduced trading activity, with a volume rate of change of -73.92%.
News & Sentiment Analysis
Recent Headlines Summary: None available
Sentiment Assessment: Neutral (no recent news headlines)
Catalyst Identification: No upcoming earnings dates or significant events are listed.
Market Narrative: The lack of recent news and earnings catalysts may contribute to PFLD's consolidation phase.
Risk & Volatility Assessment
Beta Interpretation: Low volatility, with a beta of 0.16 (vs SPY)
Volatility Regime: Current vs historical volatility levels: Lower
Options Market Signals: No options data available
Downside Protection: Support levels are present at the lower Bollinger Band ($19.61).
Market Context & Positioning
Sector Performance: Not applicable, as no sector information is provided.
Institutional Activity: Not applicable, as no institutional activity data is available.
Correlation Analysis: PFLD's correlation with the market (0.49) suggests a relatively stable relationship.
Relative Valuation: PFLD appears to be trading within its historical range.
Key Levels & Action Items
Critical Price Levels:
- Lower Bollinger Band: $19.61
- Middle Bollinger Band: $19.72
Breakout/Breakdown Levels: None notable, as the stock is currently consolidating.
Time-Sensitive Catalysts: No upcoming earnings dates or significant events are listed.
Risk Management: Consider using stop-loss levels at the lower Bollinger Band ($19.61) for defensive positioning.
Overall, PFLD appears to be in a consolidation phase, with low volatility and no recent news or earnings catalysts driving price movements. As such, it may be suitable for investors seeking defensive positions. However, without significant catalysts, the stock's price movement is likely to remain range-bound.
Generated
News
All PFLD news →
PFLD Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 0.1112
Alpha: -5.11%
Correlation: 0.3940
R-Squared: 15.5%
Stock Volatility: 3.6%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Low volatility - stock moves less than market
Beta & Alpha Over Time
PFLD Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
Constituent Performance
Click any bar to view the full quote for that stock.
Constituents
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|