PSK - PGX: 6% Yield And A Decay Story
2024-06-11 11:33:28 ET
Summary
- Invesco Preferred ETF is a high-yield fund investing in fixed rate preferred securities with at least a B3 rating.
- The PGX ETF yield is close to 6% and 67% of the portfolio has an investment grade.
- PGX price and distributions went down by about 40% in 15 years, while cumulative inflation was over 50%.
- An ex-financials preferred stocks ETF looks a bit better, but also shows some decay.
PGX strategy
Invesco Preferred ETF ( PGX ) is a high-yield fund paying monthly distributions. It has 263 holdings, a 30-day SEC yield of 5.97% and a total expense ratio of 0.50%. It started investing operations on 01/31/2008 and tracks the ICE BofAML Core Plus Fixed Rate Preferred Securities Index....
PGX: 6% Yield And A Decay Story