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

15.2%

Highest current yield

+8.9%

Today's top gainer · ALB'A

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.

15.2%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

AALB'A	57.40	+8.86%	6.32%
RRC'E	13.57	+5.52%	11.98%
RRC'C	12.55	+4.58%	12.45%
SSTRD	66.00	+4.45%	15.15%
QQXO'B	46.95	+4.33%	5.86%
GGPUS'D	22.80	+4.20%	14.25%

Today's big losers

FFOUR'A	54.04	-4.35%	11.10%
DDCOM-P	17.36	-2.10%	7.92%
BBPYPM	16.12	-1.65%	9.69%
MMITT'A	21.41	-1.56%	9.63%
BBFS'E	21.38	-1.52%	7.02%
AAHRT'A	22.19	-1.41%	7.60%

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
SSTRD	Strategy	66.00	10.000%	100	15.15%	-34.00%
HGPUS'D	Hyperscale Data, Inc.	22.80	13.000%	25	14.25%	-8.80%
RRC'C	Ready Capital Corp	12.55	6.250%	25	12.45%	-49.80%
MSTRC	Microstrategy Incorporated V	95.01	9.000%	100	12.10%	-4.99%
RRC'E	Ready Capital Corp	13.57	6.500%	25	11.98%	-45.72%
SSTRK	Strategy	67.05	8.000%	100	11.93%	-32.95%
CCYCCP	Cyclacel Pharmaceuticals Inc	5.05	6.000%	10	11.88%	-49.50%
DDBRG'I	DigitalBridge Group, Inc.	15.17	7.150%	25	11.78%	-39.32%
DDBRG'H	DigitalBridge Group, Inc.	15.19	7.125%	25	11.73%	-39.26%
WWHR'A	WHIRLPOOL CORP /DE/	36.25	8.500%	50	11.72%	-27.50%

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	71.90	4.17%	$73.4M	+43.80%
BBAC'L	BANK OF AMERICA CORP /DE/	1294.98	5.60%	$13.1M	+29.50%
WWFC'L	WELLS FARGO & COMPANY/MN	1172.64	6.40%	$10.0M	+17.26%
CC'R	CITIGROUP INC	24.26	6.44%	$3.9M	-2.96%
WWFC'Z	WELLS FARGO & COMPANY/MN	18.27	6.50%	$3.5M	-26.92%
JJPM'D	JPMORGAN CHASE & CO	23.68	6.07%	$3.4M	-5.28%
JJPM'K	JPMORGAN CHASE & CO	17.93	6.34%	$2.9M	-28.28%
MMS'F	MORGAN STANLEY	25.25	6.88%	$2.6M	+1.00%

all S&P 500 component preferreds →

Preferred stock ETFs

Symbol	Price	Yield	Freq
PPFFL	7.45	12.46%	monthly
PPFFA	20.86	9.92%	monthly
PPFFR	17.62	8.38%	monthly
PPSK	29.97	7.21%	monthly
PPFFV	22.02	7.16%	monthly
SSPFF	9.44	6.61%	monthly
PPFFD	18.60	6.45%	monthly
PPFXF	18.03	6.33%	monthly

compare the best preferred ETFs → · all →

Upcoming ex-dividends

Symbol	Ex-Date	Amount	Yield
EECC'D	2026-08-12	$0.1406	9.20%
EECCC	2026-08-12	$0.1354	6.54%
EPFFL	2026-08-13	$0.0346	12.46%
OOXLCP	2026-08-13	$0.1302	6.25%
AAIRTP	2026-08-13	$0.5000	10.52%
SINN'F	2026-08-14	$0.3672	8.36%
AASBA	2026-08-14	$0.4141	6.71%
AAUB'A	2026-08-14	$0.4300	6.96%

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