(PREF) Principal Spectrum - Overview
Etf: Preferred Stock, Depositary Receipts, Junior Subordinated Debt, Par Securities
Dividends
| Dividend Yield | 5.33% |
| Yield on Cost 5y | 5.70% |
| Yield CAGR 5y | 3.04% |
| Payout Consistency | 96.0% |
| Payout Ratio | - |
| Risk 5d forecast | |
|---|---|
| Volatility | 2.75% |
| Relative Tail Risk | -1.28% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.96 |
| Alpha | 2.42 |
| Character TTM | |
|---|---|
| Beta | 0.065 |
| Beta Downside | 0.114 |
| Drawdowns 3y | |
|---|---|
| Max DD | 7.86% |
| CAGR/Max DD | 0.95 |
Description: PREF Principal Spectrum January 20, 2026
The Principal Spectrum Preferred Securities Active ETF (NYSE ARCA:PREF) allocates at least 80% of its net assets-and any investment-grade borrowings-to preferred securities, primarily $1,000-par issues issued in large institutional lots by U.S. and non-U.S. financial institutions and corporations.
Key quantitative points to watch: (1) the fund’s weighted-average coupon hovers around 5.2% ± 0.3%, reflecting the current level of the Fed funds rate and credit spreads; (2) its average effective duration is roughly 4.5 years, making it moderately sensitive to interest-rate moves; and (3) the expense ratio stands at 0.70%, which is competitive for an actively managed preferred-stock ETF.
Macro-driven factors that can swing performance include Federal Reserve policy (higher rates compress preferred yields), the health of the banking sector (a primary issuer of $1,000-par preferreds), and corporate balance-sheet strength, as measured by credit-rating trends in the investment-grade space.
For a deeper dive into PREF’s risk-adjusted returns and sector breakdowns, you might explore the ValueRay platform’s analytical tools.
What is the price of PREF shares?
Over the past week, the price has changed by +0.22%, over one month by +0.37%, over three months by +1.46% and over the past year by +7.33%.
Is PREF a buy, sell or hold?
What are the forecasts/targets for the PREF price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 21 | 9.9% |
PREF Fundamental Data Overview February 03, 2026
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 1.46b USD (1.46b + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
EV/FCF = unknown (FCF TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 1.46b)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 1.46b / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 6.15% (E(1.46b)/V(1.46b) * Re(6.15%) + (debt-free company))
Discount Rate = 6.15% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Fair Price DCF = unknown (Cash Flow 0.0)