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Exchange Traded Fund Fixed Income Hybrid

Virtus InfraCap U.S. Preferred Stock ETF

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Ticker
PFFA
CUSIP
26923G822
Inception
05/15/2018
Closing Price
$
(as of 09/22/2022)
30-Day Median Bid/Ask Spread
0.28% (as of 09/22/2022)
Premium/Discount
$0.00 (as of 09/22/2022)
4PM Bid/Offer Midpoint
$20.30 (as of 09/22/2022)
Shares Outstanding
25,100,004 (as of 09/22/2022)
Daily Trading Volume
257,400.00 (as of 09/22/2022)
20 Day Average Trading Volume
125,405.00 (as of 09/22/2022)
Net Assets
$509,635,079 (as of 09/22/2022)

Portfolio Overview

Investment Overview

The Fund seeks current income and, secondarily, capital appreciation through a portfolio of preferred securities issued by U.S. companies with market capitalizations of over $100 million.

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.


Learn more about Infrastructure Capital Advisors

Investment Professionals

Jay Hatfield

Jay D. Hatfield

Chief Investment Officer

Industry start date: 2000
Start date as fund Portfolio Manager: 2018

Ed Ryan

Edward Ryan

Chief Operating Officer

Industry start date: 1980
Start date as fund Portfolio Manager: 2018

Key Features

Focus on Income

Offers the potential for attractive yields, while pursuing compelling total return results

Active Management

Security selection and weightings are based on a variety of quantitative, qualitative, and relative valuation factors

Enhanced Exposure

Modest leverage (typically 20-30%) is utilized to enhance portfolio beta, and options strategies are used in an effort to enhance current income

Portfolio

Top Holdings (% Fund)

(as of 09/23/2022)
Security
CRESTWOOD EQUITY PARTNER 9.250
4.63
 4.63
RLJ LODGING TRUST 7.800 09/22/2072
4.31
 4.31
SCE TRUST III 5.750 09/22/2072
4.29
 4.29
DCP MIDSTREAM LP 7.875 09/22/2072
4.25
 4.25
BABCOCK & WILCOX ENTERPR 7.750 09/22/2072
4.23
 4.23
NECESSITY RETAIL REIT IN 7.500 09/22/2072
3.85
 3.85
NUSTAR ENERGY LP 10.293 09/22/2072
3.41
 3.41
ALGONQUIN PWR & 7.750 06/15/2024
3.37
 3.37
DIGITALBRIDGE GROUP INC 7.150 09/22/2072
3.32
 3.32
NUSTAR ENERGY LP 9.000 09/22/2072
2.91
 2.91

Performance

Performance

As of
As of

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

Management Fee 0.80
Total Expense Ratio 1.21
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 08/31/2022)
30-day SEC Yield 9.61
Distribution Rate (as of 09/22/2022) 9.60

Distribution History2

Ex-Date Record Date Payable Date Dividend Income ST Capital Gains LT Capital Gains Distribution Total
10/20/2021 10/21/2021 10/28/2021 0.160000 0.000000 0.000000 0.160000
11/22/2021 11/23/2021 11/30/2021 0.160000 0.000000 0.000000 0.160000
12/20/2021 12/21/2021 12/29/2021 0.160000 0.000000 0.000000 0.160000
01/20/2022 01/21/2022 01/28/2022 0.162500 0.000000 0.000000 0.162500
02/22/2022 02/23/2022 02/28/2022 0.162500 0.000000 0.000000 0.162500
03/21/2022 03/22/2022 03/29/2022 0.162500 0.000000 0.000000 0.162500
04/20/2022 04/21/2022 04/28/2022 0.162500 0.000000 0.000000 0.162500
05/20/2022 05/23/2022 05/31/2022 0.162500 0.000000 0.000000 0.162500
06/21/2022 06/22/2022 06/29/2022 0.162500 0.000000 0.000000 0.162500
07/20/2022 07/21/2022 07/28/2022 0.162500 0.000000 0.000000 0.162500
08/22/2022 08/23/2022 08/30/2022 0.162500 0.000000 0.000000 0.162500

Please view the Fund’s Section 19-a notices, which set forth information regarding the composition of the distributions, including any portion that may constitute a return of capital.


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%
2020-Q3: 7/1/2020 through 9/30/2020 0 0 0 0 7 49 8 0 0 0
2020-Q4: 10/1/2020 through 12/31/2020 0 0 0 0 12 52 0 0 0 0
2021-Q1: 1/4/2021 through 3/31/2021 0 0 0 0 17 42 2 0 0 0
2021-Q2: 4/1/2021 through 6/30/2021 0 0 0 0 13 49 1 0 0 0
2021-Q3: 7/1/2021 through 9/30/2021 0 0 0 0 12 52 0 0 0 0
2021-Q4: 10/1/2021 through 12/31/2021 0 0 0 0 16 48 0 0 0 0
2022-Q1: 1/3/2022 through 3/31/2022 0 0 0 0 17 44 1 0 0 0
2022-Q2: 4/1/2022 through 6/30/2022 0 0 0 4 18 36 4 0 0 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 to the portfolio of owning shares of an ETF may exceed the cost of investing directly in the underlying securities.
Preferred Stocks: Preferred stocks may decline in price, fail to pay dividends, or be illiquid.
Leverage: When a portfolio is leveraged, the value of its securities may be more volatile and all other risks may be compounded.
Options: Selling call options may limit the opportunity to profit from the increase in price of the underlying asset. Selling put options risks loss if the option is exercised while the price of the underlying asset is rising. Buying options risks loss of the premium paid for those options.
Non-Diversified: The portfolio is not diversified and may be more susceptible to factors negatively impacting its holdings to the extent the portfolio invests more of its assets in the securities of fewer issuers than would a diversified portfolio.
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: The value of the securities in the portfolio may go up or down in response to the prospects of individual companies and/or general economic conditions. Price changes may be short- or long-term. Local, regional, or global events such as war (e.g., Russia's invasion of Ukraine), acts of terrorism, the spread of infectious illness (e.g., COVID-19 pandemic) or other public health issues, recessions, or other events could have a significant impact on the portfolio and its investments, including hampering the ability of the portfolio's manager(s) to invest the portfolio's assets as intended.
Prospectus: For additional information on risks, please see the fund's prospectus.

Documents & Resources

Marketing Materials

Virtus InfraCap U.S. Preferred Stock ETF (PFFA) - Fact Sheet
Virtus Infracap U.S. Preferred Stock ETF (PFFA) - Commentary
Virtus ETF Ticker Menu
ETF Product Guide

Holdings

Positions PFFA
Virtus InfraCap U.S. Preferred Stock ETF Holdings Fiscal Q1
Virtus InfraCap U.S. Preferred Stock ETF Holdings Fiscal Q3

Distributions

2022 Distribution Calendar - ETF
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) Distribution - April 2021
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) Distribution - March 2021
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) Distribution - Oct 2020
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) Distribution - June 2020
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) Distribution - May 2020
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) Distribution - Mar 2020
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) Distribution - Jan 2020

Financial Materials

Virtus InfraCap U.S. Preferred Stock ETF (PFFA) Prospectus - February 2022
Virtus Infracap U.S. Preferred Stock ETF (PFFA) SAI - February 2022
ETFis Series Trust I Annual Report - October 2021
ETFis Series Trust I Semi-Annual Report - April 2022

Section 19a Notices

Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (August 2022)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (July 2022)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (June 2022)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (May 2022)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (April 2022)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (March 2022)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (February 2022)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (January 2022)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (December 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (November 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (October 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (September 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (August 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (July 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (June 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (May 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (Apr 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a 1 (Mar 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (Feb 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (Jan 2021)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (Dec 2020)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (Nov 2020)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (Sept 2020)
Virtus InfraCap U.S. Preferred Stock ETF - PFFA - 19a-1 (Oct 2020)

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.virtusetfs.com for a copy of the Fund's prospectus. Read the prospectus carefully before you invest or send money.

The Fund is an actively managed exchange-traded fund (“ETF”) and does not seek to replicate the performance of a specified index. The Fund may have a higher portfolio turnover than funds that seek to replicate the performance of an index.

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.

Yields/Distributions: 30-day SEC Yield is a standardized yield calculated according to a formula set by the SEC, and is subject to change. 30-day SEC Yield (unsubsidized) is the 30-day SEC Yield without the effect of applicable expense waivers. 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.

2 Distribution History: Distributions are represented on a cash basis and may be reclassified at year end for tax purposes. The Fund will send you a Form 1099-DIV for the calendar year that will tell you how to report these distributions for federal income tax purposes. STCG: Short Term Capital Gain, LTCG: Long Term Capital Gain

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.