The Only Low-Duration Preferred Income ETF on the Market

PLD has, you know, is our first product that got up over $500 million.

It's it's been a very good story for us to tell.

It's very unique.

It is the first and only lowduration preferred product in the marketplace currently.

And for that reason, you know, investors, it appeals to investors because it really does help solve a problem that preferred investors face and that's risk mitigation while also maintaining high levels of income. not only high levels of income but tax efficient income as well as you mentioned um PFLD does focus on low duration.

So duration mitigation is obviously um at the front of PFLD but I think one area that is often overlooked as well is how we look to mitigate mitigate call risk as well.

So while we remove securities that have an effective duration over five years to really hone in on the interest rate sensitivity of the portfolio, PFLD's underlying index also removes securities that are trading north of 105% of face value.

That call screen right there is very very valuable in interest rate environments that we're experiencing today.

As interest rates come down, these preferred securities are going to be more frequently called.

And by doing this, you know, we have the ability to um minimize our exposure to those securities that are going to be called.

The other major differentiator for PFLD versus many of our peers, specifically the legacy preferred ETFs out in the marketplace is that PFLD actually includes thousand PAR OTC preferred securities.

And why this is unique is because if we go back maybe seven to 10 years ago, the $25 exchange listed um retail preferred really dominated the marketplace in terms of the preferred assets in the marketplace.

Fast forward to today, nearly 70% of the preferred stock market is in these OTC preferred securities.

Many of our peers do not incorporate these.

Um, it is more problematic on operations and trading and everything, but we are awfully proud to incorporate uh to include not only $1,000 par preferred securities, but also $25 exchange listed preferred in and PLD as well.

And that really does help, you know, obviously increase diversification, more holdings, more diversification, but it allows us to provide what we think is really an evergreen preferred product in no matter what interest rate environment we are.

We think we can provide you know through PFLD the benefits of the asset class high yield tax efficiency diversification and upside capital appreciation as