PFFVGlobal X - Variable Rate Preferred ETF
The Read
PFFV’s June 26 earnings historically triggered a median absolute price move of about 70%, driven by strong earnings beats and stable net interest margins from key holdings like KeyCorp, USB, and RGA, though steady results from Apollo led to muted reactions.
The schedule
- Wed30Sep
Regulators under the Trump administration are expected to issue highly diluted final rules for the Basel III Endgame, significantly lowering capital requirements for major financial institutions.
- Thu15Oct
Major financial holdings (such as Morgan Stanley and US Bancorp) report Q3 earnings, offering a direct read on commercial real estate (CRE) provisions and net interest margins.
- Wed16Dec
The final FOMC meeting of the year updates the Summary of Economic Projections, setting the baseline for PFFV's 2027 variable yield resets.
- Fri15Jan
The fund announces its Q4 2026 earnings alongside final year-end capital distributions and periodic portfolio rebalancing metrics.
Past
- Wed29Jul
The Federal Reserve concludes its July meeting. The committee's forward guidance will dictate the benchmark rates directly tied to PFFV's variable coupon resets.
- Wed15Jul
Global X announces PFFV's Q2 2026 earnings and portfolio distributions, revealing the latest yield resets on its variable-rate preferred constituents.
- Fri26Jun
The Federal Reserve releases its 2026 CCAR stress test results, a critical credit quality checkpoint for the money-center banks that dominate PFFV's variable-rate preferred holdings.
- Sat9May
Actual outcome: Mixed · $22.31 at outcome
Apollo delivered in-line Q1 2026 results, posting steady fee-related earnings and AUM growth that met consensus estimates. Without significant upside surprises in fundraising or performance fees to drive further momentum, the results failed to catalyze a breakout, leaving the stock flat as investors digested the print.
(Driven by APO) Q1 2026 results and the first look at fee-related earnings and AUM growth after a very strong 2025 will be a key test of whether Apollo can sustain double‑digit fee growth in a tougher tape. A solid print with continued inflows and resilient performance fees could drive the stock toward $118.00, while any slowdown in fundraising, weaker marks or pressure on FRE margins could see the shares trade down toward $118.00 as investors question how much of the growth story is already priced in.
- Fri8May
Actual outcome: Bull · $22.29 at outcome
RGA delivered a strong Q1 2026 earnings beat, driven by favorable mortality experience and robust investment spreads that sustained its recent momentum. The company's updated 2026 outlook reaffirmed its strong underwriting profitability, providing the fundamental strength needed to push the shares to the bull target.
(Driven by RGA) Q1 2026 results and refreshed 2026 outlook will show whether RGA can sustain the strong earnings momentum from Q4 2025 while managing mortality experience and investment spreads; at a base of $208.80, a solid beat with stable guidance could push the stock toward $220.00, while weaker underwriting or spread income could pull it back toward $220.00.