Expanding on its preferred stock exchange traded fund line up, Global X is launching another fund that tracks preferred shares but will focus on the U.S. markets.

On July 17, the Global X SuperIncome Preferred ETF (NYSEArca: SPFF) will begin trading. SPFF will try to reflect the performance of the S&P Enhanced Yield North American Preferred Stock Index, which follows the highest yielding preferred securities in the U.S. and Canada. SPFF has an expense ratio of 0.58%.

The ETF has 47 holdings, and the top holdings include Credit Suisse 5.3%, American International  3.9%, Aegon NV 3.7%, Wells Fargo Capital 3.6% and Prudential Financial 3.5%.

Sub-sector allocations include financials 74%, insurance 8.4%, real estate 6.1%, energy 4.3%, industrials 2.7%, basic materials 2.4% and telecom 2.1%.

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