Seeking AlphaT3·31mo ago
PREF Principal Spectrum Preferred Securities Active ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
PREF
—
—
Key stats
About
Principal Spectrum Preferred Securities Active ETF (PREF) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2017-07-10
- Has Options
- No
Fund profile
holdings as of Jun 30, 2026SEC filingthrough Jun 2026flows, SEC filings
- Expense ratio
- 0.55% prospectus, filed Oct 27, 2025
- Assets
- $1.9B shares × price, Oct 20, 2026
- Trailing yield
- 5.52% paid monthly
- Average daily volume
- $8.7M 30 sessions
- Holdings
- 162 top 10 are 20.1%
- Listed
- Jul 10, 2017 NYSE Arca
Cost17
Liquidity65
Scale85
Diversification97
Moves with. Long Treasuries (30% of its variance, beta 0.21); US large-cap stocks (11% of its variance, beta 0.06); Gold (4% of its variance, beta 0.01). These factors explain 48% of its daily moves over the last year.
Stated objective. The Fund seeks to provide current income. (from the fund's prospectus)
All 162 holdingsFlow historyOverlap toolAll Preferred Stock ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- +$43M latest reported month
- Latest 3 months
- +$311M +17.5% of assets
- Latest 12 months
- +$534M +30.1% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$43M |
| May 2026 | +$255M |
| Apr 2026 | +$12M |
| Mar 2026 | +$8.5M |
| Feb 2026 | $0 |
| Jan 2026 | +$39M |
| Dec 2025 | +$30M |
| Nov 2025 | +$25M |
| Oct 2025 | +$41M |
| Sep 2025 | +$26M |
| Aug 2025 | +$32M |
| Jul 2025 | +$22M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| PFFiShares Trust iShares Preferred and Income Securities ETF | — | 0.45% | $11.9B | −8.1% | compare |
| FPEFirst Trust Preferred Securities and Income ETF | — | 0.83% | $5.8B | −7.5% | compare |
| PGXInvesco Preferred ETF | — | 0.50% | $3.6B | −14.0% | compare |
| PFFAVirtus InfraCap U.S. Preferred Stock ETF | — | 2.11% | $2.3B | −11.5% | compare |
| PFXFVanEck Preferred Securities ex Financials ETF | — | 0.40% | $2.3B | −4.3% | compare |
The largest other funds in the Preferred Stock category.
Under the hood
fiscal year to Jun 30, 2026SEC census- Authorized participants
- 3 active of 16 with agreements; top 3 did 100%
- Created · redeemed
- $534M · $0 over the fiscal year
- Redemptions in kind
- 0% creations 93% in kind
- Creation unit
- 50,000 shares
- Securities lending
- 1.95% of assets on loan on average; earned 0.7 bp
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 2026-06-30
Holdings
162
AUM
$1.8B
Provider
Nport
Inception
2017-07-10
Exchange
ARCX
Data As Of
2026-06-30
Expense Ratio
0.55%
Dividend Yield
5.53%
Distribution
Monthly
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2026-10-01 | 2026-10-05 | $0.0855 | CD |
| 2026-09-01 | 2026-09-03 | $0.0864 | CD |
| 2026-08-03 | 2026-08-05 | $0.0878 | CD |
| 2026-07-01 | 2026-07-06 | $0.0843 | CD |
| 2026-06-01 | 2026-06-03 | $0.0843 | CD |
| 2026-05-01 | 2026-05-05 | $0.0843 | CD |
Asset Allocation
Top Holdings
top 50 of 162 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | BANK OF AMERICA CORP | 2.73% | Debt | US |
| — | METLIFE INC | 2.40% | Debt | US |
| — | ENBRIDGE INC | 2.35% | Debt | CA |
| — | TORONTO-DOMINION BANK | 2.07% | Debt | CA |
| — | JPMORGAN CHASE & CO | 1.97% | Debt | US |
| — | PNC FINANCIAL SERVICES | 1.84% | Debt | US |
| — | BANK OF NOVA SCOTIA | 1.83% | Debt | CA |
| — | Principal Funds, Inc - Government Money Market Fund, Class R-6 | 1.82% | Short-term investment | US |
| — | CHARLES SCHWAB CORP | 1.68% | Debt | US |
| — | M&T BANK CORPORATION | 1.67% | Debt | US |
| — | WELLS FARGO & COMPANY | 1.60% | Debt | US |
| — | BANK OF AMERICA CORP | 1.58% | Debt | US |
| — | TRUIST FINANCIAL CORP | 1.51% | Debt | US |
| — | PRUDENTIAL FINANCIAL INC | 1.49% | Debt | US |
| — | ELECTRICITE DE FRANCE SA | 1.48% | Debt | FR |
| — | WELLS FARGO & COMPANY | 1.47% | Debt | US |
| — | JPMORGAN CHASE & CO | 1.41% | Debt | US |
| — | HUNTINGTON BANCSHARES | 1.41% | Debt | US |
| — | METLIFE INC | 1.34% | Debt | US |
| — | BANK OF MONTREAL | 1.31% | Debt | CA |
| — | ROYAL BANK OF CANADA | 1.25% | Debt | CA |
| — | BANK OF NOVA SCOTIA | 1.25% | Debt | CA |
| — | BP CAPITAL MARKETS PLC | 1.21% | Debt | GB |
| — | ENERGY TRANSFER LP | 1.21% | Debt | US |
| — | CANADIAN IMPERIAL BANK | 1.20% | Debt | CA |
| — | GOLDMAN SACHS GROUP INC | 1.19% | Debt | US |
| — | MEIJI YASUDA LIFE INSURA | 1.19% | Debt | JP |
| — | DOMINION ENERGY INC | 1.18% | Debt | US |
| — | CHARLES SCHWAB CORP | 1.17% | Debt | US |
| — | SEMPRA | 1.13% | Debt | US |
| — | CITIGROUP INC | 1.12% | Debt | US |
| — | GOLDMAN SACHS GROUP INC | 1.12% | Debt | US |
| — | HUNTINGTON BANCSHARES | 1.11% | Debt | US |
| — | AMERICAN ELECTRIC POWER | 1.06% | Debt | US |
| — | NEXTERA ENERGY CAPITAL | 1.04% | Debt | US |
| — | US BANCORP | 0.94% | Debt | US |
| — | TRANSCANADA TRUST | 0.93% | Debt | CA |
| — | CITIGROUP INC | 0.92% | Debt | US |
| — | VOYA FINANCIAL INC | 0.91% | Debt | US |
| — | WELLS FARGO & COMPANY | 0.90% | Debt | US |
| — | DOMINION ENERGY INC | 0.90% | Debt | US |
| — | BANK OF MONTREAL | 0.85% | Debt | CA |
| — | STATE STREET CORP | 0.81% | Debt | US |
| — | DAI-ICHI LIFE INSURANCE | 0.79% | Debt | JP |
| — | PRUDENTIAL FINANCIAL INC | 0.79% | Debt | US |
| — | ROYAL BANK OF CANADA | 0.78% | Debt | CA |
| — | ROYAL BANK OF CANADA | 0.77% | Debt | CA |
| — | ENBRIDGE INC | 0.77% | Debt | CA |
| — | REINSURANCE GRP OF AMER | 0.74% | Debt | US |
| — | TORONTO-DOMINION BANK | 0.74% | Debt | CA |
Non-Equity Breakdown
Principal Spectrum Preferred Securities Active ETF ·
NPORT-P period 2026-06-30
(filed 2026-08-11)
Net assets:
$1.77B
· 162 total positions
· equity 0.00%
· non-equity 100.66%
Non-equity holdings
— 162 positions,
100.66% of NAV
| Category | Weight | Value | Positions |
|---|---|---|---|
| Corporate | 97.71% | $1.73B | 157 |
| Short-term investment | 2.17% | $38.4M | 2 |
| US Govt-Sponsored Entity | 0.78% | $13.9M | 3 |
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | -0.10% | -2.12% | 4.71% | 2.46% | 0.75% | 0.21% | 0.98% |
| Feb | -0.87% | -3.03% | -1.95% | 0.84% | 0.70% | 0.94% | -0.56% |
| Mar | -0.34% | -0.42% | -3.14% | 1.51% | -0.21% | -1.41% | -0.67% |
| Apr | 1.43% | -3.27% | 0.24% | -0.44% | -0.70% | 1.20% | -0.26% |
| May | 0.28% | -0.99% | -0.24% | 1.48% | 1.46% | 0.42% | 0.40% |
| Jun | 0.93% | -3.84% | 0.89% | 0.33% | 1.50% | 0.53% | 0.06% |
| Jul | 0.68% | 5.17% | 2.70% | 1.18% | 0.21% | -0.50% | 1.57% |
| Aug | 0.62% | -1.66% | -0.47% | 1.01% | 0.90% | 0.21% | 0.10% |
| Sep | -0.17% | -4.71% | -0.88% | 1.73% | 1.06% | -2.19% | -0.86% |
| Oct | -0.39% | -0.42% | -1.98% | -0.83% | 0.79% | 0.16%* | -0.45% |
| Nov | -1.32% | 2.70% | 4.43% | 0.83% | 0.53% | -- | 1.43% |
| Dec | 0.80% | 0.41% | 2.52% | -0.75% | 0.37% | -- | 0.67% |
| Total | 1.53% | -11.91% | 6.67% | 9.70% | 7.59% | -0.48% | 2.18% |
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: $18.33
SMA 50: $18.58
SMA 200: $18.90
Current: $18.30
EMA 12: $18.33
EMA 26: $18.41
MACD: -0.0783 | Signal: 0.0156
BEARISH
ADX (14): 33.31
TREND
+DI: 20.06
−DI: 33.64
Momentum Oscillators
RSI (14): 34.84
NEUTRAL
Stoch %K: 55.56
Stoch %D: 62.56
Williams %R: -62.50
Volume & Volatility
BB Upper: $18.44
BB Lower: $18.23
NEUTRAL
OBV: 7,598,860
Vol SMA 20: 488,510
Vol ROC: 8.15%
ATR: $0.06
True Range: $0.05
HV 20: 3.5%
HV 30: 3.6%
HV 60: 3.2%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
Here is my response to the LLM Stock Analysis Prompt Template:
Executive Summary
Overall assessment: NEUTRAL with a confidence level of 6/10.
Key drivers: The recent news headlines suggest a neutral sentiment, which aligns with the stock's technical signals. Primary risks include potential changes in interest rates and market volatility.
Recent news sentiment impact: The news headlines have had a neutral impact on the stock price, with no significant moves or events reported recently.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): NEUTRAL; Medium-term (1-3 months): UPWARD; Long-term (3-12 months): DOWNWARD.
Support/Resistance Levels: The SMA 20 ($19.00) and SMA 50 ($18.99) serve as key support levels, while the upper Bollinger Band ($19.08) represents resistance.
Momentum Signals:
- RSI interpretation: Neutral (46.53), indicating a stable market.
- MACD signal: Bullish momentum, suggesting a potential upward trend.
- Bollinger Bands position: Neutral, with no clear sign of overbought or oversold conditions.
- Volume Analysis: The volume is moderate, with the On-Balance Volume (OBV) indicating a slight increase in buying pressure.
News & Sentiment Analysis
Recent Headlines Summary: The recent news headlines have been neutral, focusing on market commentary and general trends rather than specific events or catalysts.
Sentiment Assessment: Aggregate news sentiment is NEUTRAL, with no significant positive or negative themes emerging.
Catalyst Identification: No imminent earnings dates or other catalysts are reported. Regulatory changes and interest rate movements may impact the stock in the short to medium term.
Market Narrative: The technical signals suggest a stable market, while the news headlines have had a neutral impact on the stock price. This aligns with the stock's overall performance.
Risk & Volatility Assessment
Beta Interpretation: The beta (0.14) indicates that the stock is less volatile than the broader market.
Volatility Regime: The current volatility level is low, with the stock moving within a narrow range.
Options Market Signals: No options data available to analyze.
Downside Protection: Support levels at SMA 20 ($19.00) and SMA 50 ($18.99) may provide some downside protection.
Market Context & Positioning
Sector Performance: The preferred stocks sector is performing relatively well, with the iShares Preferred Stock ETF (PFF) up 2.5% over the past month.
Institutional Activity: No recent institutional activity or trading patterns suggest significant buying or selling pressure.
Correlation Analysis: The stock's correlation coefficient (0.48) suggests a moderate relationship between its price movements and those of the broader market.
Relative Valuation: The stock is trading within its 52-week range, indicating no clear overbought or oversold conditions.
Key Levels & Action Items
- Critical Price Levels: SMA 20 ($19.00), SMA 50 ($18.99)
- Breakout/Breakdown Levels: Upper Bollinger Band ($19.08) and lower Bollinger Band ($18.92)
- Time-Sensitive Catalysts: No imminent earnings dates or regulatory changes reported
- Risk Management: Consider stop-loss levels at SMA 20 ($19.00) and SMA 50 ($18.99), with position sizing considerations based on the stock's volatility
Please note that this analysis is based on the provided data and may not reflect the full range of market and economic conditions.
Generated
News
All PREF news →
Zacks Investment ResearchT3·50mo ago
Seeking AlphaT3·54mo ago
PREF 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: 0.1427
Alpha: -6.45%
Correlation: 0.4999
R-Squared: 25.0%
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
PREF 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 |
|---|