How is a preferred stock different from a bond?

Both pay fixed income, but a bond is debt and a preferred is equity. A bond's interest is contractual and ranks ahead of preferred shares if the company fails, while a preferred's dividend can be skipped or suspended and ranks behind bonds. Preferreds usually yield more to compensate for that added risk — the exception is a baby bond, which is debt that trades like a preferred.

A baby bond is exchange-traded debt issued in small $25 pieces, so it trades on a stock exchange just like a preferred share. It pays interest rather than a dividend and has a maturity date when the $25 principal is repaid. Because it's debt, the interest must be paid or the issuer defaults — which generally makes a baby bond safer than the same issuer's preferred shares.

What does par value (liquidation preference) mean?

Par — the liquidation preference — is the face value of a preferred share, usually $25 and sometimes $50 or $100. It's the amount you're owed per share if the issue is redeemed or the company is liquidated, and the dividend is set as a percentage of it. A share trading below par has upside toward par; one above par risks losing that premium if it's called.

What is a call date, and why does it matter?

The call date is the first date the issuer can redeem a preferred at its par value, usually about five years after issue. If you pay more than par and the issue is later called, you lose that premium — so for an above-par, callable issue the yield-to-worst, not the current yield, is the honest measure of return.

SEC-verified · Free · 517 tracked

Preferred stocks & preferred shares, made clear.

Q: What is a preferred stock?

A preferred stock — also called a preferred share — is a class of ownership that sits between a company's bonds and its common stock. It pays a fixed dividend on a set schedule and is paid before common shareholders, but usually carries no voting rights and little price growth. Most trade near a $25 face value and are bought for steady income.

Yields, dividends, call dates and SEC-verified terms for every preferred stock and baby bond — each figure traced to SEC filings and live market quotes, and actually readable.

What is a preferred stock?

New to preferreds? Start with the basics →

A preferred stock (also called a preferred share) sits between a company's bonds and its common stock: it pays a fixed, scheduled dividend and usually trades around a $25 (sometimes $100 or $1,000) face value called the liquidation preference, or par — so preferreds are judged less on growth and more on current yield, call risk, dividend terms, and price relative to par.

517

Preferreds & baby bonds tracked

15.9%

Highest current yield

+4.3%

Today's top gainer · UPLT

SEC

Terms & filings verified

Start where the income is

Four ways in — each one screened, sourced, and explained.

All lists & screens →

Yield

Highest yield

The biggest payouts on the board — and why each one runs hot.

15.9%top current yield

Value

Below par

Trading under liquidation value, with the call upside that implies.

$25par most trade below

Funds

Preferred ETFs

One-ticker diversified baskets, compared by yield and what they hold.

15funds tracked

Bonds

Baby bonds

Exchange-listed debt at $25 face — bond safety, stock-like liquidity.

$25par, quarterly income

Today's big gainers

UUPLT	25.03	+4.35%	0.99%
PPCG'G	18.48	+3.47%	6.49%
SSTRK	68.60	+2.51%	11.66%
AALB'A	55.80	+2.42%	6.50%
CCDR'B	17.86	+2.26%	10.15%
RRC'E	13.16	+1.71%	12.34%

Today's big losers

FFOUR'A	59.03	-4.02%	10.16%
GGPUS'D	20.44	-3.93%	15.90%
KKKR'D	48.56	-2.84%	6.44%
QQXO'B	42.95	-2.65%	6.40%
WWHR'A	35.20	-2.49%	12.07%
OORCL'D	47.41	-2.43%	6.86%

Highest current yield

Ranked by current yield, updated after each session. A high yield is a question, not a gift.

Why these yields are so high →

Symbol	Issuer	Price	Coupon	Par	Yield	Prem/Disc
HGPUS'D	Hyperscale Data, Inc.	20.44	13.000%	25	15.90%	-18.24%
SSTRD	Strategy	67.83	10.000%	100	14.74%	-32.17%
RRC'C	Ready Capital Corp	12.25	6.250%	25	12.76%	-51.00%
RRC'E	Ready Capital Corp	13.16	6.500%	25	12.34%	-47.35%
BBHR'D	Braemar Hotels & Resorts Inc	16.89	8.250%	25	12.21%	-32.44%
WWHR'A	WHIRLPOOL CORP /DE/	35.20	8.500%	50	12.07%	-29.60%
CCYCCP	Cyclacel Pharmaceuticals Inc	5.05	6.000%	10	11.88%	-49.50%
DDBRG'H	DigitalBridge Group, Inc.	15.05	7.125%	25	11.84%	-39.80%
DDBRG'I	DigitalBridge Group, Inc.	15.12	7.150%	25	11.82%	-39.52%
LLFT'A	Lument Finance Trust, Inc.	16.75	7.875%	25	11.75%	-33.00%

517 live securities tracked · full list → · * par assumed $25 (pending prospectus confirmation)

Most active S&P 500 preferreds

The most heavily traded preferreds from S&P 500 & Dow component companies — ranked by average daily dollar volume.

Symbol	Issuer	Price	Yield	Avg Daily Volume	Prem/Disc
BBA'A	BOEING CO	71.17	4.22%	$55.0M	+42.34%
BBAC'L	BANK OF AMERICA CORP /DE/	1305.90	5.55%	$13.1M	+30.59%
WWFC'L	WELLS FARGO & COMPANY/MN	1171.60	6.40%	$8.6M	+17.16%
CC'R	CITIGROUP INC	24.28	6.44%	$3.2M	-2.88%
JJPM'D	JPMORGAN CHASE & CO	23.63	6.08%	$3.0M	-5.48%
WWFC'Z	WELLS FARGO & COMPANY/MN	18.14	6.55%	$2.9M	-27.44%
JJPM'K	JPMORGAN CHASE & CO	17.84	6.38%	$2.6M	-28.64%
MMS'F	MORGAN STANLEY	25.25	6.88%	$2.2M	+0.98%

all S&P 500 component preferreds →

Preferred stock ETFs

Symbol	Price	Yield	Freq
PPFFL	7.49	12.40%	monthly
PPFFA	21.18	9.77%	monthly
PPFFR	17.68	8.35%	monthly
PPSK	29.84	7.24%	monthly
PPFFV	22.04	7.15%	monthly
SSPFF	9.59	6.51%	monthly
PPFFD	18.66	6.43%	monthly
PPGX	10.68	6.30%	monthly

compare the best preferred ETFs → · all →

Upcoming ex-dividends

Symbol	Ex-Date	Amount	Yield
OOXLCO	2026-08-16	$0.1250	6.24%
OOXLCN	2026-08-16	$0.1484	7.19%
CCOF'J	2026-08-18	$0.3000	6.98%
CCOF'I	2026-08-18	$0.3125	6.97%
CCOF'N	2026-08-18	$0.2656	6.89%
CCOF'L	2026-08-18	$0.2734	6.92%
CCOF'K	2026-08-18	$0.2891	6.97%
IPGX	2026-08-19	$0.0620	6.30%

full ex-dividend calendar →

Latest preferred offerings

Symbol	Issuer	Issued
FFITB'M	FIFTH THIRD BANCORP	2026-06-12
FFITBI	FIFTH THIRD BANCORP	2026-06-12
FFITBP	FIFTH THIRD BANCORP	2026-06-12
AATH'B	Athene Holding Ltd	2026-05-28
FAGM'I	FEDERAL AGRICULTURAL MORTG	2026-05-22
BBFH'B	BREAD FINANCIAL HOLDINGS,	2026-05-15