Innovator S&P Investment Grade Preferred ETF (EPRF)

The Innovator S&P Investment Grade Preferred ETF (EPRF) is an exchange-traded fund that seeks to track the performance of the S&P U.S. Preferred Stock Index, a market-cap-weighted benchmark of the preferred stock market.

Preferred stock is a type of equity security that represents ownership in a corporation, but with a fixed dividend payment similar to a bond. Preferred stock usually has a higher yield than common stock and is less volatile. It is a popular investment for income-seeking investors.

The ETF invests at least 80% of its total assets in preferred stocks included in the index. The index includes preferred stocks issued by companies in the S&P Composite 1500, which is a broad-based index of US equities. The ETF may also invest in other securities that are not included in the index.

It began trading on the NYSE Arca in July 2018.