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InfraCap REIT Preferred ETF

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Exchange Traded Fund Fixed Income

InfraCap REIT Preferred ETF

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Ticker
PFFR
CUSIP
26923G400
Fact Sheet
NAV
$
(as of 06/30/2020)
Closing Price
$
(as of 06/30/2020)
Inception
02/07/2017
Premium/Discount
$0.10 (as of 06/30/2020)
4PM Bid/Offer Midpoint
$20.71 (as of 06/30/2020)
Shares Outstanding
2,400,004 (as of 06/30/2020)
Daily Trading Volume
6,200.00 (as of 06/30/2020)
20 Day Average Trading Volume
29,955.00 (as of 06/30/2020)
Net Assets
$49,476,156 (as of 06/30/2020)

Portfolio Overview

Investment Overview

The Fund seeks investment results that correspond, before fees and expenses, to the price and yield performance of the Indxx REIT Preferred Stock Index.

Management Team

Investment Partner

Infrastructure Capital Advisors

Infrastructure Capital Advisors, LLC (ICA) is a registered investment advisor that manages an actively managed ETF and a series of hedge funds. The firm was formed in 2012 and is based in New York City.


Investment Professionals

Jay D. Hatfield

Chief Investment Officer

Industry start date: 2000
Start date as fund Portfolio Manager: 2017

Edward Ryan

Chief Operating Officer

Industry start date: 1980
Start date as fund Portfolio Manager: 2017

Key Features

Targeted Exposure

The only ETF offering a diversified investment in preferred securities issued by Real Estate Investment Trusts (REITs)

Attractive Attributes

REIT preferreds tend to offer attractive yield potential, both fixed income and equity characteristics, and low equity beta

Advantages Over Traditional Preferreds

These securities are also typically exposed to less leverage with generally more predictable revenue streams than those issued by banks and insurance companies

Positions & Distributions

Top Holdings (% Fund)

(as of 07/01/2020)
Security
VEREIT INC 6.700
4.23
 4.23
ANNALY CAPITAL MGMT 6.950
3.23
 3.23
ANNALY CAPITAL MGMT 7.500
2.37
 2.37
MONMOUTH REIT 6.125
2.06
 2.06
ANNALY CAPITAL MGMT 6.750
2.01
 2.01
AGNC INVESTMENT CORP 6.500
1.87
 1.87
ANNALY CAPITAL MGMT 6.500
1.83
 1.83
NATIONAL RETAIL PROP INC 5.200
1.77
 1.77
ARCH CAPITAL GROUP LTD 5.450
1.74
 1.74
APOLLO GLBL MGMNT INC 6.375
1.66
 1.66

Does not include cash/cash equivalents.

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
07/22/2019 07/23/2019 07/30/2019 0.120000 0.000000 0.000000 0.120000
08/20/2019 08/21/2019 08/28/2019 0.120000 0.000000 0.000000 0.120000
09/20/2019 09/23/2019 09/30/2019 0.120000 0.000000 0.000000 0.120000
10/21/2019 10/22/2019 10/29/2019 0.120000 0.000000 0.000000 0.120000
11/20/2019 11/21/2019 11/29/2019 0.120000 0.000000 0.000000 0.120000
12/20/2019 12/23/2019 12/30/2019 0.140000 0.000000 0.000000 0.140000
01/21/2020 01/22/2020 01/29/2020 0.120000 0.000000 0.000000 0.120000
02/20/2020 02/21/2020 02/28/2020 0.120000 0.000000 0.000000 0.120000
03/20/2020 03/23/2020 03/30/2020 0.120000 0.000000 0.000000 0.120000
04/20/2020 04/21/2020 04/28/2020 0.120000 0.000000 0.000000 0.120000
05/20/2020 05/21/2020 05/29/2020 0.120000 0.000000 0.000000 0.120000
06/22/2020 06/23/2020 06/30/2020 0.120000 0.000000 0.000000 0.120000

Performance & Risk

Performance

As of
As of
1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years Since Inception

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate, so your shares, when redeemed, may be worth more or less than their original cost.

Fees & Expenses

Total Expense Ratio 0.45
The Total Expense Ratio represents the Fund's Total Annual Fund Operating Expenses, which includes the management fee and other expenses where applicable, except for certain payments that are paid directly by the Fund, as described in the Prospectus.

Sales Charge and Expenses

The Total Expense Ratio represents the Fund's Total Annual Fund Operating Expenses, which includes the management fee and other expenses where applicable, except for certain payments that are paid directly by the Fund, as described in the Prospectus.

Yields/Distribution Rate

(as of 05/29/2020)
30-day SEC Yield 6.77
Distribution Rate (as of 06/30/2020) 6.99

Premium/Discount

Number of Days Fund has Traded at a:
Discount Premium
Period Less than -2% -1.51% to -2.00% -1.01% to -1.50% -0.51% to -1.00% -0.01% to -0.50% 0.00% to 0.50% 0.51% to 1.00% 1.01% to 1.50% 1.51% to 2.00% Greater than 2%
2018-Q3: 7/2/2018 through 9/28/2018 0 0 0 0 13 50 0 0 0 0
2018-Q4: 10/1/2018 through 12/31/2018 1 0 0 1 18 43 0 0 0 0
2019-Q1: 1/2/2019 through 3/29/2019 0 0 0 2 36 23 0 0 0 0
2019-Q2: 4/1/2019 through 6/28/2019 0 0 0 0 10 51 2 0 0 0
2019-Q3: 7/1/2019 through 9/30/2019 0 0 0 0 2 61 1 0 0 0
2019-Q4: 10/1/2019 through 12/31/2019 0 0 0 1 6 56 1 0 0 0
2020-Q1: 1/2/2020 through 3/31/2020 1 1 2 1 4 47 2 1 1 2
2020-Q2: 4/1/2020 through 6/30/2020 1 0 2 1 11 42 2 2 2 0

Risk Considerations

Exchange-Traded Funds (ETF): The value of an ETF may be more volatile than the underlying portfolio of securities it is designed to track. The costs of owning the ETF may exceed the cost of investing directly in the underlying securities.
Equity REITs: The fund may be negatively affected by factors specific to the real estate market, including interest rates, leverage, property, and management.
Preferred Stocks: Preferred stocks may decline in price, fail to pay dividends, or be illiquid.
Industry/Sector Concentration: A fund that focuses its investments in a particular industry or sector will be more sensitive to conditions that affect that industry or sector than a non-concentrated fund.
Passive Strategy/Index Risk: A passive investment strategy seeking to track the performance of the underlying Index may result in the fund holding securities regardless of market conditions or their current or projected performance. This could cause the fund's returns to be lower than if the fund employed an active strategy.
Correlation to Index: The performance of the fund and its index may vary somewhat due to factors such as fund flows, transaction costs, and timing differences associated with additions to and deletions from its index.
REIT Interest Rate: When interest rates rise, the value of REIT securities (including preferred securities) can be expected to decline. The current historically low interest rate environment increases the risk associated with rising interest rates.
Small Companies: The market price of equity securities may be affected by financial market, industry, or issuer-specific events. Focus on a particular style or on small or medium-sized companies may enhance that risk.
Market Price/NAV: At the time of purchase and/or sale, an investor's shares may have a market price that is above or below the fund's NAV, which may increase the investor's risk of loss.
Market Volatility: Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions, or other events could have a significant impact on the fund and its investments, including hampering the ability of the fund's portfolio manager(s) to invest the fund's assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials

InfraCap REIT Preferred ETF - Fact Sheet
Download
Precision Exposure Across Non-Traditional Sources of Income
Download
Virtus ETF Ticker Menu
Download
Preferred Stocks: A Strong Case for Active Management
Download

Holdings

Positions PFFR
Download

Distributions

Virtus InfraCap REIT Preferred ETF (PFFR) Distribution - June 2020
Download
Virtus InfraCap REIT Preferred ETF (PFFR) Distribution - May 2020
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Virtus InfraCap REIT Preferred ETF (PFFR) Distribution - Apr 2020
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Virtus InfraCap REIT Preferred ETF (PFFR) Distribution - Mar 2020
Download
Virtus InfraCap REIT Preferred ETF (PFFR) Distribution - Jan 2020
Download
InfraCap REIT Preferred ETF (PFFR) 2020 Distribution Calendar
Download

Financial Materials

InfraCap REIT Preferred ETF (PFFR) Prospectus - Feb 28, 2020
Download
ETFis Series Trust I XBRL 485(b)
Download
ETFis Series Trust I XBRL 497
Download
InfraCap REIT Preferred ETF (PFFR) SAI - Feb. 2020
Download
ETFis Series Trust I Annual Report - Oct 2019
Download
ETFis Series Trust I Semi-Annual Report - April 2020
Download
Infracap REIT Preferred ETF - Form 8937 - 2019
Download

Section 19a Notices

InfraCap REIT Preferred ETF - PFFR - 19a-1 - May 2020
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InfraCap REIT Preferred ETF - PFFR - 19a-1 - Apr 2020
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InfraCap REIT Preferred ETF - PFFR - 19a-1 - Mar 2020
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InfraCap REIT Preferred ETF - PFFR - 19a-1 - Feb 2020
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InfraCap REIT Preferred ETF - PFFR - 19a-1 - Jan 2020
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InfraCap REIT Preferred ETF - PFFR - 19a-1 - Dec 2019
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InfraCap REIT Preferred ETF - PFFR - 19a-1 - Oct 2019
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InfraCap REIT Preferred ETF - PFFR - 19a-1 - Sept 2019
Download
InfraCap REIT Preferred ETF - PFFR - 19a-1 - Aug 2019
Download

Please consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. Contact us at 1-888-383-0553 or visit www.virtus.com for a copy of the Fund's prospectus. Read the prospectus carefully before you invest or send money.

Performance data quoted represents past results. Past performance is no guarantee of future results and current performance may be higher or lower than the performance shown. Investment return and principal value will fluctuate so your shares, when redeemed, may be worth more or less than their original cost.

Closing Price: The Closing Price is the price of the last reported trade on the fund's primary exchange. If there has been no reported trade for a particular date, the Closing Price represents the 4PM Bid/Offer Midpoint. 

4PM Bid/Offer Midpoint: The midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00pm Eastern Time).

Premium/Discount: The amount the Fund is trading above or below the reported NAV (based on 4PM Bid/Offer Midpoint).

The Fund is an exchange-traded fund (“ETF”). The “net asset value” (NAV) of the Fund is determined at the close of each business day, and represents the dollar value of one share of the Fund; it is calculated by taking the total assets of the Fund, subtracting total liabilities, and dividing by the total number of shares outstanding. The NAV of the Fund is not necessarily the same as its intraday trading value. Fund investors should not expect to buy or sell shares at NAV because shares of ETFs such as the Fund are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Thus, shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.

NAV returns are calculated using the Fund’s daily 4:00 p.m. NAV, and include the reinvestment of all dividends and other distributions (reinvested at the Fund's NAV on distribution ex-date). Market price returns are calculated using the 4:00 pm midpoint between the bid and offer, and include the reinvestment of all dividends and other distributions (reinvested at the 4:00pm bid/offer midpoint on distribution ex-date). Market price returns do not represent the return you would receive if you traded at other times.

30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change.

Distribution Rate is the annual rate that an investor would receive if the most recent distribution remained the same going forward. The rate represents a single distribution from the Fund and does not represent total return of the Fund. The distribution rate is calculated by annualizing the most recent distribution and dividing it by the most recent NAV.

Returns for periods of less than one year are cumulative total returns.

Not insured by FDIC/NCUSIF or any federal government agency. No bank guarantee. Not a deposit. May lose value.