BATS | ETF
Under normal market conditions, the portfolio managers will invest at least 80% of the fund's net assets, plus any borrowings for investment purposes, in preferred securities issued byU. S. and non-U.S. companies.
Preferred securities in which the fund may invest include preferred stock, hybrid preferred securities that have characteristics similar to both preferred stock and debt securities, floating rate preferred securities, junior subordinated debt, senior unsecured debt obligations denominated in 25 par amounts, re-packaged preferreds, and convertible securities.
The fund is non-diversified.
Top 20 Holdings
| Asset | Name | Sector | Industry | Weight |
|---|---|---|---|---|
| NEE-PR | Nextera Energy Inc | Utilities | Utilities - Regulated Electric | 4.46% |
| US29273VAM28 | Energy Transfer 7.125% perp. | 1.99% | ||
| TVE | Tennessee Valley Authority | Utilities | Electrical Utilities & IPPs | 1.45% |
| US808513BK01 | SCHW 4 | 1.38% | ||
| UZD | United States Cellular Corporat | 0.86% | ||
| USB-P-A | U.S. Bancorp Depositary Shares Series A | Other | Other | 0.78% |
| US060505FL38 | BAC 5.875 | 0.76% | ||
| AXS-P-E | Axis Capital Holdings Limited Depositary Shares Series E | Other | Other | 0.68% |
| US693475BP99 | PNC 6.25 | 0.67% | ||
| US693475BF18 | PNC 6.2 | 0.62% | ||
| MS-P-K | Morgan Stanley Depositary Shares Series K | Other | Other | 0.55% |
| RZB | Reinsurance Group of America Inc | 0.53% | ||
| US92840MAB81 | VST 8 | 0.52% | ||
| AIZN | Assurant Inc | 0.50% | ||
| SCE-PJ | SCE Trust IV | Financial Services | Capital Markets | 0.49% |
| COF-PI | Capital One Financial Corporation | Financial Services | Credit Services | 0.45% |
| STT-PG | State Street Corporation | Financial Services | Asset Management | 0.43% |
| GTLS-PB | Chart Industries Inc. | Industrials | Specialty Industrial Machinery | 0.39% |
| TVC | Tennessee Valley Authority Pref | 0.39% | ||
| SCE-PM | SCE Trust VII | 0.35% |