EXCHANGE-TRADE FUNDS DETAILS

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AAM Low Duration Preferred & Income Securities ETF (NYSE:PFLD)

PFLD Description

The AAM Low Duration Preferred & Income Securities ETF (NYSE:PFLD) seeks to track the investment results of an index composed of shorter duration exchange-listed U.S. dollar denominated hybrid debt and preferred stock publicly issued by corporations in the U.S. domestic market.

The PFLD Advantage

  1. Provide high monthly income: PFLD targets preferred securities which have historically offered higher yields than similarly rated bonds thus providing a solution to diversify income streams. Preferred securities may also pay qualified dividends which are taxed at a lower rate than ordinary income.

  2. Reduce interest rate risk: PFLD targets preferred securities with an option-adjusted duration less than five years in an effort to reduce interest rate risk.

  3. Diversify your portfolio: PFLD targets hybrid securities that have exhibited lower correlations to traditional stock and bond strategies, offering a way to diversify investments and potentially mitigate volatility.

Performance (As of 03/28/2024)

 YTD1 yr3 yr5 yr10 yrSince Inception
PFLD NAV3.19%8.02%-0.05%--1.73%
PFLD Share Price2.98%8.07%0.06%--1.84%
ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index3.34%8.43%0.27%--2.12%
ICE Exchange-Listed Preferred & Hybrid Securities Index 4.73%10.78%0.27%--2.66%
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Fund performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 800.617.0004.

Distributions

03/26/202403/27/202404/01/2024$0.12000---$0.12000
02/27/202402/28/202403/01/2024$0.12000---$0.12000
01/29/202401/30/202402/01/2024$0.12000---$0.12000
12/28/202312/29/202301/03/2024$0.27393---$0.27393
11/28/202311/29/202312/01/2023$0.12000---$0.12000
10/27/202310/30/202311/01/2023$0.13198---$0.13198
09/27/202309/28/202310/02/2023$0.13000---$0.13000
08/29/202308/30/202309/01/2023$0.10300---$0.10300
07/27/202307/28/202308/01/2023$0.10300---$0.10300
06/28/202306/29/202307/03/2023$0.10300---$0.10300
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Top Holdings (As of 04/23/2024)

JPMorgan Chase & Co48128B648BJ2KBT6Banking267,4392.52%12/31/22006.000%
JPMorgan Chase & Co48128B655BFY34D0Banking245,2312.27%12/31/22005.750%
Goldman Sachs Group Inc/The38144G804B15CKS5Financial Services232,2371.95%12/31/22000.000%
Duke Energy Corp26441C501BJXH6L3Utility172,0241.59%12/31/22005.750%
Bank of America Corp060505229BFZNM46Banking158,8021.49%12/31/22006.000%
Athene Holding Ltd04686J861BPSKDY1Insurance148,3141.30%12/31/22006.350%
US Bancorp902973155B125QN4Banking172,0241.29%12/31/22000.000%
AT&T Inc00206R409BDDJDF0Telecommunications141,9271.27%08/01/20675.625%
Energy Transfer LP29273V605BNZGZ86Energy129,1351.22%12/31/22007.600%
MetLife Inc59156R876BG43LW5Insurance138,4871.22%12/31/22005.625%
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Sector Allocation (As of 04/23/2024)

Holdings By Country (As of 04/23/2024)

United States96.70%
Cash & Other1.19%
Canada1.03%
Hong Kong0.56%
United Kingdom0.50%
CRN: 2023-0906-11089 R

Please view the PFLD fact card for standardized performance. Short-term performance is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

* Represents the Unsubsidized Yield. The 30-day SEC Yield for an Exchange-Traded Fund (ETF) is a standardized yield calculation developed by the U.S. Securities and Exchange Commission (SEC) that reflects the income earned by the fund's portfolio over the past 30 days, net of expenses. It is calculated by taking the fund's net investment income, including interest and dividends, and dividing it by the fund's average net assets over the previous 30 days. This yield calculation provides investors with a snapshot of the fund's income-generating potential, taking into account expenses that impact yields, such as management fees and other operating costs. It is calculated by our Fund Administrator, US Bank. The unsubsidized yield figure reflects the dividends and interest earned during the period, after the deduction of the fund’s expenses.

The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectus contains this and other important information about the investment company, and it may be obtained by calling 800.617.0004 or visiting www.aamlive.com. Read it carefully before investing.

Risks: Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may be only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns. There are no guarantees that a company will pay or continually increase its dividends. The Fund invests in small- and mid-capitalization companies which may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies. Smaller-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes. ADRs (American Depository Receipts) involve risks similar to those associated with investments in foreign securities, such as changes in political or economic conditions of other countries and changes in the exchange rates of foreign currencies. Investments in REITs (real estate investment trusts) involve unique risks. REITs may be affected by changes in the value of their underlying properties or economic factors affecting the real estate industry. REITs may have limited financial resources, may trade less frequently and in limited volume, and may be more volatile than other securities.

Holdings and allocations are subject to change at any time. Past performance does not guarantee future results. Cash flow is the net amount of cash and cash-equivalents moving into and out of a business. 30-Day Median Bid/Ask Spread is computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values, expressed as a percentage rounded to the nearest hundredth. The Russell 2500® Index measures the performance of the small to mid-cap segment of the U.S. equity universe. It includes approximately 2500 of the smallest securities based on a combination of market cap and current index membership. The Index is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small to mid-cap opportunity set. It is not possible to invest directly in an index.

Advisors Asset Management, Inc. (AAM) is an SEC-registered investment advisor and member FINRA/SIPC. AAM ETFs are distributed by Quasar Distributors, LLC. Quasar and AAM are not affiliated.