PFF

The iShares Preferred and Income Securities ETF (PFF) invests primarily in U.S.‑dollar‑denominated preferred stocks, hybrid securities and convertible preferred issues, with a heavy weighting toward financial institutions, industrial companies and utilities. It follows an indexing approach, seeking to replicate the performance of the ICE Exchange‑Listed Preferred & Hybrid Securities Index by sampling the constituent securities and weighting them by market value. Because the fund emphasizes higher‑yielding, equity‑like securities that sit between stocks and bonds, it may suit income‑focused investors who want diversified exposure to preferred‑type assets and are comfortable with credit and interest‑rate risk.