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Invesco Preferred ETF (PGX)

Preferred Stock | Exchange Traded Fund | NYSEArca
10.85 USD +0.02 (0.185%) ⇧ (July 14, 2026, 4 p.m. EDT)
Short-term:★★⯪☆☆Long-term:★☆☆☆☆Dividends:★★★⯪☆
Hot Take ↕ | July 11, 2026, 3:34 a.m. EDT

The Invesco Preferred ETF is currently trapped in a value trap scenario where a high 6.27% yield masks severe capital erosion. Over the last nine years, the fund has lost 26.21% of its value, driven by a brutal multi-year decline where preferred securities were forced to reset yields downward as interest rates rose. While the recent price action shows a slight stabilization near the 52-week lows, the underlying assets remain vulnerable to further rate hikes or credit spread widening. The options market confirms this pessimism, with traders aggressively buying puts for August and September while ignoring upside potential. Although the dividend provides a cushion, it is insufficient to offset the significant capital losses incurred over the trailing decade, making this a poor vehicle for long-term wealth preservation.
Model Selection — Backtest MAE (log-scale, lower is better)
ModelMAE
AutoTheta ✓0.012615
AutoARIMA0.012729
AutoETS0.012729
MSTL0.014057

Forecast horizon: 45 days | Selected: AutoTheta

Forecast Reliability
Score 72%
H-stat 8.91
Ljung-Box p 0.000
Jarque-Bera p 0.250
Excess Kurtosis -1.07

As of July 11, 2026, 3:34 a.m. EDT: Speculators are positioning defensively with heavy put volume concentrated in August and September expirations, specifically targeting downside protection at the current price level. Call activity is sparse and skewed toward deep out-of-the-money strikes, indicating a lack of bullish conviction despite the high dividend yield.

Dividend Data

Yield Summary
Last Yield 1yr Yield 3yr Avg 5yr Avg
0.45% 6.03% 6.06% 5.79%
Dividend History
Date Dividend Yield %
2026-06-22 0.049 0.451613
2026-05-18 0.050 0.454133
2026-04-20 0.060 0.537634
2026-03-23 0.056 0.508629
2026-02-23 0.054 0.473269
2026-01-20 0.064 0.564872
2025-12-22 0.054 0.480000
2025-11-24 0.059 0.526786
2025-10-20 0.067 0.578584
2025-09-22 0.056 0.476190
2025-08-18 0.055 0.481611
2025-07-21 0.055 0.492390
2025-06-23 0.051 0.461538
2025-05-19 0.054 0.488246
2025-04-21 0.054 0.498615
2025-03-24 0.056 0.488230
2025-02-24 0.056 0.483175
2025-01-21 0.059 0.504705
2024-12-23 0.056 0.486111
2024-11-18 0.058 0.486169
2024-10-21 0.064 0.523303
2024-09-23 0.058 0.465863
2024-08-19 0.058 0.489039
2024-07-22 0.058 0.494881
2024-06-24 0.053 0.457686
2024-05-20 0.055 0.475779
2024-04-22 0.056 0.492524
2024-03-18 0.058 0.489039
2024-02-20 0.056 0.477408
2024-01-22 0.058 0.498710
2023-12-18 0.069 0.605795
2023-11-20 0.060 0.543478
2023-10-23 0.066 0.643902
2023-09-18 0.057 0.511211
2023-08-21 0.060 0.549954
2023-07-24 0.061 0.539346
2023-06-20 0.061 0.545130
2023-05-22 0.060 0.539568
2023-04-24 0.063 0.539846
2023-03-20 0.060 0.545951
2023-02-21 0.058 0.486577
2023-01-23 0.061 0.490354
2022-12-19 0.061 0.522708
2022-11-21 0.061 0.520922
2022-10-24 0.061 0.551039
2022-09-19 0.059 0.486397
2022-08-22 0.058 0.456334
2022-07-18 0.059 0.468998
2022-06-21 0.059 0.485597
2022-05-23 0.058 0.474244
2022-04-18 0.057 0.444618
2022-03-21 0.057 0.426009
2022-02-22 0.057 0.420664
2022-01-24 0.056 0.384088
2021-12-20 0.056 0.379919
2021-11-22 0.057 0.387492
2021-10-18 0.058 0.385638
2021-08-23 0.061 0.403706
2021-07-19 0.061 0.403706
2021-06-21 0.063 0.413929
2021-05-24 0.062 0.411960
2021-04-19 0.061 0.404778
2021-03-22 0.062 0.416947
2021-02-22 0.061 0.416098
2021-01-19 0.062 0.413885
2020-12-21 0.062 0.407627
2020-11-23 0.061 0.404241
2020-10-19 0.061 0.412162
2020-09-21 0.061 0.414684
2020-08-24 0.064 0.429530
2020-07-20 0.064 0.444136
2020-06-22 0.063 0.443038
2020-05-18 0.062 0.444444
2020-04-20 0.062 0.447008
2020-03-23 0.062 0.567246
2020-02-24 0.061 0.408300
2020-01-21 0.063 0.417219
2019-12-23 0.064 0.427522
2019-11-18 0.064 0.430686
2019-10-21 0.064 0.426382
2019-09-23 0.067 0.447263
2019-08-19 0.068 0.456070
2019-07-22 0.067 0.452397
2019-06-24 0.066 0.450205
2019-05-20 0.065 0.448585
2019-04-22 0.067 0.461115
2019-03-18 0.069 0.476519
2019-02-19 0.068 0.475524
2019-01-22 0.067 0.480976
2018-12-24 0.073 0.553869
2018-11-19 0.067 0.485156
2018-10-22 0.067 0.478571
2018-09-24 0.067 0.466899
2018-08-20 0.067 0.461751
2018-07-23 0.069 0.474227
2018-06-18 0.067 0.460798
2018-05-21 0.067 0.467551
2018-04-23 0.069 0.478170
2018-03-19 0.069 0.473251
2018-02-20 0.069 0.480167
2018-01-22 0.068 0.465435
2017-12-18 0.068 0.454545
2017-11-20 0.068 0.453939
2017-10-23 0.072 0.479361
2017-09-18 0.071 0.472074
2017-08-15 0.070 0.465735
2017-07-14 0.071 0.470510
2017-06-15 0.071 0.472074
2017-05-15 0.071 0.473649
2017-04-13 0.070 0.470430
2017-03-15 0.069 0.471311
2017-02-15 0.070 0.475543
2017-01-13 0.070 0.481100
2016-12-15 0.073 0.519943
2016-11-15 0.070 0.489168
2016-10-14 0.068 0.455459
2016-09-15 0.071 0.468647
2016-08-15 0.070 0.457516
2016-07-15 0.070 0.459318
2016-06-15 0.074 0.491368
2016-05-13 0.072 0.479361
2016-02-12 0.071 0.502477
2016-01-15 0.072 0.488467
2015-12-15 0.072 0.497238
2015-11-13 0.072 0.486815
2015-10-15 0.070 0.476515
2015-09-15 0.072 0.495527
2015-08-14 0.074 0.503744
2015-07-15 0.074 0.507893
2015-06-15 0.074 0.507545
2015-05-15 0.074 0.503401
2015-04-15 0.073 0.490262
2015-03-13 0.072 0.488136
2015-02-13 0.073 0.491914
2015-01-15 0.073 0.497275
2014-12-15 0.073 0.504841
2014-11-14 0.072 0.491468
2014-10-15 0.072 0.500347
2014-09-15 0.074 0.517121
2014-08-15 0.073 0.501718
2014-07-15 0.073 0.500686
2014-06-13 0.074 0.512465
2014-05-15 0.074 0.512821
2014-04-15 0.073 0.511204
2014-03-14 0.073 0.517730
2014-02-14 0.074 0.530466
2014-01-15 0.074 0.537400
2013-12-13 0.074 0.549369
2013-11-15 0.074 0.543319
2013-10-15 0.074 0.548148
2013-09-13 0.076 0.558413
2013-08-15 0.076 0.558413
2013-07-15 0.076 0.535211
2013-06-14 0.075 0.520472
2013-05-15 0.075 0.503018
2013-04-15 0.077 0.518868
2013-03-15 0.078 0.527027
2013-02-15 0.078 0.527740
2013-01-15 0.078 0.526316
2012-12-14 0.078 0.533516
2012-11-15 0.079 0.544452
2012-10-15 0.076 0.512129
2012-09-14 0.079 0.534145
2012-08-15 0.077 0.524166
2012-07-13 0.080 0.546822
2012-06-15 0.081 0.565248
2012-05-15 0.081 0.570423
2012-04-13 0.079 0.552061
2012-03-15 0.080 0.557491
2012-02-15 0.080 0.561404
2012-01-13 0.080 0.571837
2011-12-15 0.076 0.556369
2011-11-15 0.074 0.533526
2011-10-14 0.075 0.548246
2011-09-15 0.079 0.571635
2011-08-15 0.076 0.548341
2011-07-15 0.076 0.532213
2011-06-15 0.078 0.548523
2011-05-13 0.078 0.539046
2011-04-15 0.080 0.561404
2011-03-15 0.080 0.563777
2011-02-15 0.078 0.551237
2011-01-14 0.078 0.553977
2010-12-15 0.098 0.696023
2010-11-15 0.073 0.511204
2010-10-15 0.080 0.560224
2010-09-15 0.078 0.540915
2010-08-13 0.079 0.554386
2010-07-15 0.078 0.564399
2010-06-15 0.076 0.556777
2010-05-14 0.078 0.582090
2010-04-15 0.079 0.569575
2010-03-15 0.077 0.550393
2010-02-12 0.078 0.573951
2010-01-15 0.080 0.584795
2009-12-15 0.143 1.075188
2009-11-13 0.080 0.608365
2009-10-15 0.080 0.597015
2009-09-15 0.081 0.614568
2009-08-14 0.084 0.627334
2009-07-15 0.083 0.656646
2009-06-15 0.082 0.666667
2009-05-15 0.091 0.812500
2009-04-15 0.082 0.781697
2009-03-13 0.089 1.026528
2009-02-13 0.094 0.935323
2009-01-15 0.101 0.843072
2008-12-15 0.117 1.016507
2008-11-14 0.125 1.028807
2008-10-15 0.076 0.586873
2008-09-15 0.101 0.811897
2008-08-15 0.119 0.725610
2008-07-15 0.118 0.906298
2008-06-13 0.118 0.646930
2008-05-15 0.118 0.607934
2008-04-15 0.117 0.607792
2008-03-14 0.118 0.625663
2008-02-15 0.118 0.577865
Additional Data
trailingAnnualDividendRate 0.0
trailingAnnualDividendYield 0.0
dividendYield 6.27

Info Dump

Attribute Value
All Time High 22.64
All Time Low 6.09
Ask 0.0
Ask Size 61,100
Average Daily Volume10 Day 3,219,870
Average Daily Volume3 Month 2,506,978
Average Volume 2,506,978
Average Volume10Days 3,219,870
Beta3 Year 1.21
Bid 0.0
Bid Size 51,300
Category Preferred Stock
Crypto Tradeable 0
Currency USD
Custom Price Alert Confidence HIGH
Day High 10.87
Day Low 10.83
Dividend Yield 6.27
Esg Populated 0
Exchange PCX
Exchange Data Delayed By 0
Exchange Timezone Name America/New_York
Exchange Timezone Short Name EDT
Fifty Day Average 10.964
Fifty Day Average Change -0.11399937
Fifty Day Average Change Percent -0.010397607
Fifty Two Week Change Percent -3.0384243
Fifty Two Week High 11.92
Fifty Two Week High Change -1.0699997
Fifty Two Week High Change Percent -0.08976507
Fifty Two Week Low 10.76
Fifty Two Week Low Change 0.09000015
Fifty Two Week Low Change Percent 0.008364326
Fifty Two Week Range 10.76 - 11.92
First Trade Date Milliseconds 1,201,789,800,000
Five Year Average Return -0.0101898005
Full Exchange Name NYSEArca
Fund Family Invesco
Fund Inception Date 1,201,737,600
Gmt Off Set Milliseconds -14,400,000
Has Pre Post Market Data 1
Language en-US
Legal Type Exchange Traded Fund
Long Business Summary The fund generally will invest at least 80% of its total assets in the components of the index. Strictly in accordance with its guidelines and mandated procedures, ICE Data Indices, LLC selects securities for the index, which is a market capitalization-weighted index designed to measure the performance of the fixed rate U.S. dollar-denominated preferred securities market issued in the U.S. domestic market.
Long Name Invesco Preferred ETF
Market us_market
Market State PRE
Max Age 86,400
Message Board Id finmb_40538756
Nav Price 10.85
Net Assets 3,857,212,160.0
Net Expense Ratio 0.5
Open 10.84
Pre Market Change 0.012499809
Pre Market Change Percent 0.11520561
Pre Market Price 10.8625
Pre Market Time 1,784,114,961
Previous Close 10.83
Price Hint 2
Quote Source Name Nasdaq Real Time Price
Quote Type ETF
Region US
Regular Market Change 0.0200005
Regular Market Change Percent 0.184676
Regular Market Day High 10.87
Regular Market Day Low 10.83
Regular Market Day Range 10.83 - 10.87
Regular Market Open 10.84
Regular Market Previous Close 10.83
Regular Market Price 10.85
Regular Market Time 1,784,059,200
Regular Market Volume 1,859,216
Short Name Invesco Preferred ETF
Source Interval 15
Symbol PGX
Three Year Average Return 0.047978602
Total Assets 3,857,212,160
Tradeable 0
Trailing Annual Dividend Rate 0.0
Trailing Annual Dividend Yield 0.0
Trailing Peg Ratio None
Trailing Three Month Nav Returns 0.983
Trailing Three Month Returns 0.983
Triggerable 1
Two Hundred Day Average 11.23895
Two Hundred Day Average Change -0.3889494
Two Hundred Day Average Change Percent -0.034607273
Type Disp ETF
Volume 1,859,216
Yield 0.0627
Ytd Return -0.73026