# Virtus InfraCap U.S. Preferred Stock ETF (PFFA): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/pffa for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Virtus · Asset class: Core Investment Grade Bond - Strategy: Actively Managed · Inception: 2018-05-15 PFFA is an actively managed preferred stock ETF that focuses on preferred equity listed in the US and utilizes a variety of active management strategies. Specifically, the portfolio manager analyzes companies based on fundamentals while generally eliminating exposure to callable securities. A distinguishing characteristic of PFFA is that it uses margin to modestly leverage the portfolio, with a target leverage of 15-25% and a cap of 33% of fund assets (an effective maximum leverage ratio of 1.25x). The fund may engage in active and frequent trading of portfolio securities, at its discretion... ## Key Facts | Metric | Value | |---|---| | Price | $18.78 | | Expense Ratio | 2.11% | | Assets Under Management | $2.28B | | NAV | $18.91 | | Holdings Count | 198 | | Distribution Yield (TTM) | 11.00% | | Annual Distribution (TTM) | $2.06 /share | | Distribution Frequency | Monthly | | 52-Week Range | $18.77 – $22.06 | | Beta | 1.07 | ## Latest Distribution - Amount: $0.1725 /share - Ex-date: 2026-10-20 - Pay date: 2026-10-27 ## Frequently Asked Questions ### What does PFFA invest in? PFFA is an actively managed preferred stock ETF that focuses on preferred equity listed in the US and utilizes a variety of active management strategies. Specifically, the portfolio manager analyzes companies based on fundamentals while generally eliminating exposure to callable securities. A distinguishing characteristic of PFFA is that it uses margin to modestly leverage the portfolio, with a target leverage of 15-25% and a cap of 33% of fund assets (an effective maximum leverage ratio of 1.25x). The fund may engage in active and frequent trading of portfolio securities, at its discretion, to meet its investment objectives. ### What is the expense ratio of PFFA? Virtus InfraCap U.S. Preferred Stock ETF (PFFA) charges an expense ratio of 2.11%. This is the annual fee deducted from fund assets to cover management and operations. ### What is PFFA's dividend yield? PFFA's trailing-twelve-month yield is 11.00%, calculated from the sum of dividends over the past year divided by the current price. ### What is the duration of PFFA? Effective duration measures PFFA's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. PFFA's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of PFFA? PFFA's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of PFFA? Yield to maturity (YTM) is the total return you'd earn from PFFA if every bond in the portfolio is held to maturity at the current price. PFFA's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### Does PFFA pay a dividend? Yes, Virtus InfraCap U.S. Preferred Stock ETF (PFFA) distributes dividends to shareholders. The trailing-twelve-month yield is 11.00%. Full dividend history is on this page. ### How often does PFFA pay dividends? Virtus InfraCap U.S. Preferred Stock ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is PFFA's next ex-dividend date? The most recently announced ex-dividend date for PFFA was 2026-10-20. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will PFFA's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 2.11% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does PFFA charge its expense ratio? The expense ratio is deducted in tiny daily slices from PFFA's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does PFFA cost more than a fund like VOO? PFFA is actively managed (current expense ratio 2.11%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether PFFA's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to PFFA? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PFFA (2.11%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/pffa - Distribution history: https://www.dividenddata.com/funds/pffa/dividend - Holdings & diversification: https://www.dividenddata.com/funds/pffa/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/pffa/expenses - Peer comparison: https://www.dividenddata.com/funds/pffa/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.