PSK ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings and Alternative ETFs
The SPDR ICE Preferred Securities ETF is a passive product that diversifies across US preferred stocks to pursue high dividends, with characteristics that sit between bonds and equities. Dividends, interest rate sensitivity, and sector concentration are the key points to check, and comparison with other preferred stock ETFs is the main selection criterion. The trading ticker is PSK.
SubscribeWhat Is the SPDR ICE Preferred Securities ETF?
This is a passive preferred stock ETF that holds non-convertible preferred stocks and comparable securities in market-cap weights to pursue high dividend income. It diversifies across the broader preferred stock market, which carries a large weighting in the financial sector.
It suits income-oriented investors who want more stable dividends than common stocks and higher returns than bonds.
It is a passively managed (index-tracking) ETF run by State Street.
How Does the SPDR ICE Preferred Securities ETF Invest?
| Item | Details |
|---|---|
| Tracking Index | ICE Preferred Securities Index |
| Management Style | Passive (index-tracking) |
| Rebalancing Frequency | Regular (per index rules) |
| Dividend Frequency | Monthly |
| Expense Ratio | 0.45% |
It tracks, in market-cap weights, an index made up of non-convertible preferred stocks and comparable securities. Preferred stocks sit in the middle ground: their dividends take priority over common stock, but they are more volatile than bonds, and they are heavily influenced by the financial sector, which accounts for a large share of issuance.
- High-dividend exposure diversified across preferred stocks
- Characteristics between bonds and equities
SPDR ICE Preferred Securities ETF Size and Costs (AUM and Management Fee)
Assets under management (AUM) stand at $620.9M, and the expense ratio is 0.45% per year.
Its dividends are more stable than those of common stock dividend ETFs, but when interest rates rise its price tends to weaken like a bond, and its large financial sector weighting makes it highly exposed to that industry.
SPDR ICE Preferred Securities ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangePreferred stocks react sensitively to the interest rate environment and credit conditions. During rate-cut phases they tend to strengthen much like bonds, but when rates rise or concerns about financial sector credit grow, prices can weaken.
Money tends to flow into preferred stock ETFs when demand for stable high dividends is strong, while outflows can occur when rates rise or risk aversion toward the financial sector intensifies.
SPDR ICE Preferred Securities ETF Pros and Cons
Its strength is a stable, high dividend, while its weaknesses are interest rate sensitivity and sector concentration in financials.
💪 Key Strengths
⚠️ Points to Watch
SPDR ICE Preferred Securities ETF Alternative ETFs and Related Products
Preferred stock ETFs differ in character depending on composition, such as whether they hold floating-rate securities or exclude the financial sector. To get more exposure to preferred stocks, you can also compare the flagship preferred stock ETF PFF, the preferred and income securities ETF FPE, and PFFA, which adds leverage to preferred stock income. These differ in rate structure, sector composition, and fees, so it is best to choose according to your investment style.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 AMLP | Alerian MLP ETF | $53.14 | +1.5% | $12.6B | 1.01% | 7.66% | +13.2% |
 PGX | Invesco Preferred ETF | $9.91 | -0.1% | $3.6B | 0.50% | 6.9% | -14.1% |
 VRP | Invesco Variable Rate Preferred ETF | $23.56 | +0.0% | $3.0B | 0.50% | 5.94% | -4.3% |
 MLPA | Global X MLP ETF | $54.58 | +1.5% | $2.4B | 0.77% | 7.37% | +12.9% |
 PFXF | VanEck Preferred Securities ex Financials ETF | $16.91 | -0.2% | $2.2B | 0.40% | 6.28% | -5.7% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 MYMK | State Street My2031 Municipal Bond ETF | 0.13% | $24.57 | +0.1% | $0.0M | - | 2.62% |
| WFC | Wells Fargo & Co | 0.03% | $82.39 | -0.8% | $247.3B | 11.6 | 2.31% |
| T | AT&T Inc | 0.03% | $20.93 | -8.0% | $141.0B | 11.3 | 5.3% |
| COF | Capital One Financial Corp | 0.03% | $201.34 | -1.0% | $123.5B | 11.9 | 1.6% |
| DUK | Duke Energy Corp | 0.03% | $124.98 | -0.3% | $97.4B | 18.8 | 3.48% |
SPDR ICE Preferred Securities ETF Investor Checkpoints
Here are the points to review before investing in PSK. As a preferred stock ETF, it is important to check interest rate sensitivity, financial sector concentration, credit risk, and fee level together in advance.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the fee of a passive preferred stock ETF | Needs checking |
| 📈 Rate Sensitivity | Possibility of price weakness when rates rise | Sensitive |
| 🏦 Sector Concentration | Check the financial sector weighting | Concentrated |
| 💰 Dividend Level | Check the preferred stock dividend level and distributions | Needs checking |
When rates rise, the price tends to weaken like a bond, and because of its large financial sector weighting, volatility can increase if credit concerns about the financial sector grow. Deteriorating issuer credit conditions are also a risk factor.
This is a preferred stock ETF suited to income-oriented investors who want more stable dividends than common stocks and higher returns than bonds. If you want floating-rate exposure or a financials exclusion, other preferred stock ETFs may be an alternative, and if you want standard preferred stock exposure, PSK can be the alternative.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 4, 2026.
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