PFF Stock: iShares Preferred and Income Securities ETF Profile & Analysis (2026)
The market-leading fund for diversified exposure to U.S. preferred stocks and hybrid income-producing securities — Updated May 2026 with current AUM, expense ratio, holdings, and performance data.
The iShares Preferred and Income Securities ETF (PFF) is a cornerstone for income-oriented portfolios, offering a unique hybrid exposure that blends the characteristics of both stocks and bonds. As the largest ETF in its class, PFF provides access to a broad range of exchange-listed preferred stocks, which typically offer higher yields than common equity or investment-grade bonds. For investors navigating the complete list of finance companies, PFF serves as a specialized tool to capture institutional-grade yield with significant liquidity.
Because preferred securities are heavily issued by financial institutions to meet regulatory capital requirements, PFF’s performance is closely tied to the health of the banking and insurance sectors. This makes it an essential companion to the XLF Stock Profile and the KRE Stock Profile. While the fund includes some exposure to insurance companies and utilities, its core strength lies in its ability to generate high monthly income through its deep roster of financial preferred issues.
Key Takeaways — PFF Stock
Preferred stocks sit between debt and equity in the capital structure, providing a priority claim on dividends and assets over common shareholders.
Unlike many equity ETFs that pay quarterly, PFF is designed to provide monthly dividend distributions, making it ideal for retirees.
With approximately 40% of assets in banks and 10% in insurance, the fund is a direct bet on the stability of the U.S. financial system.
PFF behaves like a long-duration bond; its price tends to rise when interest rates fall and decline when rates move upward.
PFF — Live Price Chart
Real-time chart from TradingView.
PFF ETF Vitals & Key Statistics
Core data as of May 2026.
| Data Point | Value | Data Point | Value |
|---|---|---|---|
| Full Name | iShares Preferred and Income Securities ETF | Ticker | PFF |
| Issuer | BlackRock (iShares) | Asset Class | Preferred Stock / Hybrid |
| Index Tracked | ICE Exchange-Listed Preferred & Hybrid Securities Index | Structure | ETF |
| Expense Ratio | 0.45% | AUM | $13.6B |
| Inception Date | March 26, 2007 | Exchange | NASDAQ |
| No. of Holdings | 450 | Dividend Yield | 5.65% |
| 52-Week High | $32.09 | 52-Week Low | $30.07 |
| Avg Daily Volume | 7.5M Shares | YTD Return | 3.16% |
| 1-Year Return | 4.63% | 5-Year Return | 1.12% |
| Category | Preferred Stock | Dividend Frequency | Monthly |
PFF Top 10 Holdings (May 2026)
Largest positions by weight. Click columns to sort.
| Rank | Ticker | Company Name | Sector | Weight % |
|---|---|---|---|---|
| 1 | WFC-PL | Wells Fargo & Co Preferred Series L | Financials | 2.20% |
| 2 | CITICAP | Citigroup Capital XIII | Financials | 2.00% |
| 3 | BAC-PL | Bank of America Corp Preferred Series L | Financials | 1.80% |
| 4 | JPM-PEE | JPMorgan Chase Preferred Series EE | Financials | 1.60% |
| 5 | JPM-PDD | JPMorgan Chase Preferred Series DD | Financials | 1.55% |
| 6 | T-PC | AT&T Preferred Series C | Communication | 1.45% |
| 7 | WFC-PR | Wells Fargo Preferred Series R | Financials | 1.30% |
| 8 | USB-PH | U.S. Bancorp Preferred Series H | Financials | 1.20% |
| 9 | FPE | First Trust Preferred Securities ETF | Financials | 0.85% |
| 10 | PFFD | Global X U.S. Preferred ETF | Financials | 0.23% |
PFF — Pros & Cons
✓ High Income Potential
Consistently offers a yield significantly higher than the broad stock market or investment-grade corporate bonds.
✗ Interest Rate Risk
High duration makes the fund sensitive to rate hikes, which can lead to capital losses that offset dividend income.
✓ Monthly Payouts
One of the few major ETFs to provide monthly distributions, smoothing out cash flow for income-dependent investors.
✗ Financial Concentration
Over 50% of the fund is tied to banks and diversified financials, creating significant risk during banking sector stress.
✓ Deep Liquidity
As the category leader, PFF offers tight bid-ask spreads and massive daily volume for easy entry and exit.
✗ Limited Capital Growth
Preferred stocks rarely participate in the explosive growth of common shares, making this a pure income play.
Who Should Consider PFF?
Retirees and income seekers who prioritize high monthly yields over long-term capital appreciation.
Growth-focused investors or those who are bearish on the financial sector and rising interest rates.
You want to diversify a bond portfolio with hybrid securities that offer a higher priority claim than common stocks.
Best held in tax-deferred accounts (like IRAs) to shield the high dividend income from annual taxation.
PFF vs Similar ETFs
Key metrics comparison.
| ETF | Full Name | Expense Ratio | AUM | Holdings | Div Yield | YTD | Best For |
|---|---|---|---|---|---|---|---|
| PFF ★ | iShares Preferred and Income Securities ETF | 0.45% | $13.6B | 450 | 5.65% | 3.16% | Diversified Income |
| PFFD | Global X U.S. Preferred ETF | 0.23% | $2.8B | 250 | ~6.0% | 3.20% | Low-Cost Income |
| FPE | First Trust Preferred Securities and Income ETF | 0.85% | $5.4B | 300 | ~6.1% | 4.10% | Active Management |
| PGF | Invesco Financial Preferred ETF | 0.62% | $1.5B | 100 | ~5.8% | 2.90% | Financial Pure-Play |
PFF Technical Analysis
Real-time buy/sell signals.
PFF — Risks & Considerations
Interest Rate Sensitivity
Preferred stocks have long maturities (or are perpetual). This makes PFF highly sensitive to interest rate changes; if rates rise, PFF’s price typically falls.
Financial Sector Contagion
Because a massive portion of the fund is in banks, systemic issues in small cap bank stocks or major institutions can cause drastic sell-offs.
Call Risk
Many preferred stocks are callable at par value. If interest rates drop, companies may buy back their shares, forcing the ETF to reinvest at lower yields.
Credit & Subordination Risk
Preferred stockholders are junior to bondholders. In a corporate bankruptcy, PFF holders may recover nothing if all assets go to senior debt holders.