**PFFA: The Active Preferred ETF Edge**
*October 30, 2025 | 3:10 AM ET*
**Virtus InfraCap U.S. Preferred Stock ETF (PFFA)**
*Infrastructure Capital Advisors*
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Preferred stock ETFs are often passively managed. However, the preferred securities market presents a unique mix of structural quirks that can quickly expose the shortcomings of index-based investing.
Instead of buying the entire market, PFFA takes a more active approach. The fund screens out negative yield-to-call positions, tactically adjusts its fixed-versus-floating rate exposure, and diversifies beyond the financial sector.
To enhance income generation, PFFA generally employs leverage in the range of 20% to 30%. This active income strategy is deployed across a diversified basket of high-yielding preferred stocks.
As of September 30, 2025, PFFA reported a 30-day SEC yield of 9.31%, which compares favorably to its passive peers.
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The preferred securities market is characterized by features such as negative yield-to-call provisions, callable structures, and sector imbalances—factors that can present challenges for index-based investing strategies. PFFA’s active management seeks to navigate these complexities effectively.
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**About Infrastructure Capital Advisors**
Infrastructure Capital Advisors (“Infrastructure Capital”) is a leading provider of investment management solutions tailored to income-focused investors. The firm is led by CEO and CIO Jay Hatfield, who serves as the lead portfolio manager for several funds including:
– InfraCap Small Cap Income ETF (NYSE: SCAP)
– InfraCap Equity Income Fund ETF (NYSE: ICAP)
– InfraCap MLP ETF (NYSE: AMZA)
– Virtus InfraCap U.S. Preferred Stock ETF (NYSE: PFFA)
– InfraCap REIT Preferred ETF (NYSE: PFFR)
Mr. Hatfield and the Infrastructure Capital team frequently contribute to major financial media outlets such as Fox Business, CNBC, Barron’s, The Wall Street Journal, Yahoo Finance, TD Ameritrade Network, and Bloomberg Radio/TV.
The team also publishes a variety of educational investing resources, including monthly market and economic reports, quarterly commentaries, investing primers, as well as asset class and strategy research. In addition, they host a monthly webinar and actively participate in industry conferences to support investor education.
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