In this article, I'll review the less popular fixed-income securities, sorted into several categories: floored preferred stocks, third parties, trust preferred stocks, and the preferred units, including those with K-1. This makes a total of 90 securities, 51 of which are part of the largest primary exchange-traded fixed-income ETF: iShares Preferred and Income Securities ETF (PFF).
As we can see in the chart below, despite the fact that just 11% of PFF's market capitalization consists of the aforementioned securities, which also corresponds to 11% of the fund's holdings, we are talking around $2B