PSK: Interest Rate Sensitive In A Concerning Direction

The State Street SPDR ICE Preferred Securities ETF is effectively an ultra-long duration, interest rate-sensitive ETF dominated by fixed-rate, perpetual preferred securities. PSK exhibits high correlation with long-term corporate credit ETFs like VCLT, highlighting its significant duration and credit spread exposure. Inflation is in concerning areas, longstanding and persistent, all explaining genuine concern about yield levels that bode badly in terms of Fed policy for such a rate-sensitive ETF.

Seeking Alpha • Sep 30, 2026

PSK: Not A Good Time For Preferred Stocks In My Opinion

State Street SPDR ICE Preferred Securities ETF has a 6%+ yield with annualized volatility below 6%, appealing for income-focused investors. PSK is heavily concentrated in financials, passively tracks a market-cap index, and maintains a diversified portfolio of over 150 holdings with low turnover. Despite the highest TTM yield among peers, PSK has underperformed on 3- and 10-year total returns, partly due to lower top-10 concentration and sector allocation.

Seeking Alpha • Jun 27, 2026

PrairieSky Receives TSX Approval for Renewed Normal Course Issuer Bid

CALGARY, Alberta, June 01, 2026 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted the notice of PrairieSky's intention to commence a normal course issuer bid (the "NCIB").

GlobeNewsWire • Jun 1, 2026

PSK: Ultra-Long Duration Debt Component At Risk From Debt Cost Revaluations

State Street SPDR ICE Preferred Securities ETF faces heightened risks due to its high financial sector concentration and effective duration exposure. Rising yields across the curve and reinflation risks threaten the debt component of PSK, putting into question its relative resilience. Equity exposures in PSK, mainly financials, are vulnerable to higher debt costs and macroeconomic pressures, adding downside risk.

Seeking Alpha • Mar 30, 2026

PrairieSky Royalty Ltd. (PSK:CA) Q4 2025 Earnings Call Transcript

PrairieSky Royalty Ltd. (PSK:CA) Q4 2025 Earnings Call Transcript

Seeking Alpha • Feb 10, 2026

PSK Keeps Underperforming Competitors

SPDR® ICE Preferred Securities ETF (PSK) receives a renewed 'Sell' rating due to persistent underperformance versus peers. PSK's portfolio is 66.7% weighted to financial issuers, heightening systemic risk. PSK's share price has dropped 20% since 2009, and distributions declined 9.6% in 10 years.

Seeking Alpha • Jan 6, 2026

PrairieSky Royalty Ltd. (PSK:CA) Q3 2025 Earnings Call Transcript

PrairieSky Royalty Ltd. (TSX:PSK:CA ) Q3 2025 Earnings Call October 21, 2025 8:30 AM EDT Company Participants Andrew Phillips - President, CEO & Non-Independent Director Michael Murphy - Vice-President of Geosciences & Capital Markets Pamela Kazeil - Senior VP of Finance & CFO Conference Call Participants Patrick O'Rourke - ATB Capital Markets Inc., Research Division Jeremy McCrea - BMO Capital Markets Equity Research James Kubik - CIBC Capital Markets, Research Division Presentation Operator Ladies and gentlemen, thank you for standing by.

Seeking Alpha • Oct 21, 2025

PSK's Portfolio Breakdown

The SPDR ICE Preferred Securities ETF offers diversified exposure to preferred securities, with a strong 70% allocation to the financial sector and an attractive 6.61% distribution yield. The fund's portfolio is primarily composed of fixed-rate preferred stocks and baby bonds, balancing yield and credit quality (average Baa2-Baa3). With a 10-year NAV total return of 2.62% and a moderate 0.45% expense ratio, PSK is a solid choice for income-focused investors seeking stability.

Seeking Alpha • Aug 26, 2025

SPDR ICE Preferred Securities ETF's Portfolio Review

SPDR® ICE Preferred Securities ETF offers diversified exposure to preferred securities, with 156 holdings and a 10-year total return of 2.45%. The portfolio is mainly investment-grade, averaging Baa2-Baa3 credit ratings, and yields between 5.5% and 7.83% depending on security type. 46% of assets are fixed-rate preferreds below par, offering a 6.42% yield, while 23% are fixed-rate bonds below par yielding 7.05%.

Seeking Alpha • Jun 13, 2025

Debunking Preferred Stock ETF Holdings Part 4: PSK's Holdings

SPDR ICE Preferred Securities ETF (PSK) focuses on investment-grade preferred stocks and securities, with $811.11MM in assets and a 0.45% expense ratio. PSK's portfolio includes 42% fixed-rate preferred stocks below par, 22% fixed-rate bonds below par, and 7% fixed-to-floating stocks above par. The fund's average credit rating is Baa3, with an average yield to worst of 6.08% and a current yield of 5.49%.

Seeking Alpha • Mar 28, 2025