Flaherty & Crumrine Preferred Income Fund (PFD)

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Flaherty & Crumrine Preferred Income Fund (PFD) is up 0.2% since the beginning of the year. PFD is currently trading at $12 per share. Investors who bought $1,000 worth of PFD shares 5 years ago would now be looking at an investment worth $967.

Flaherty & Crumrine Preferred Income Fund (PFD) has returned 0.18% so far this year and 11.04% over the past 12 months. Over the last ten years, PFD has returned 3.86% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.

Based on dividend-adjusted daily data since Jan 25, 1991, PFD's average daily return is +0.03%, while the average monthly return is +0.55%. At this rate, an investment would double in approximately 10.5 years.

Historically, 58% of months were positive and 42% were negative. The best month was May 2009 with a return of +23.2%, while the worst month was Sep 2008 at -38.7%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 6 months.

On a daily basis, PFD closed higher 47% of trading days. The best single day was Oct 13, 2008 with a return of +74.5%, while the worst single day was Mar 18, 2020 at -25.7%.

Flaherty & Crumrine Preferred Income Fund has an annualized alpha of 2.96%, beta of 0.53, and R2 of 0.12 versus S&P 500 Index. Calculated based on daily prices since January 25, 1991.

• This fund participated in 44.30% of S&P 500 Index downside but only 39.73% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.53 may look defensive, but with R2 of 0.12 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.12 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PFD has a high expense ratio of 1.29%, indicating above-average management fees.

PFD ranks 20 for risk / return — below 20% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

Flaherty & Crumrine Preferred Income Fund provided a 6.92% dividend yield over the last twelve months, with an annual payout of $0.80 per share. The fund has been increasing its distributions for 2 consecutive years.

The table displays the monthly dividend distributions for Flaherty & Crumrine Preferred Income Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Flaherty & Crumrine Preferred Income Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Flaherty & Crumrine Preferred Income Fund was 81.70%, occurring on Oct 10, 2008. Recovery took 460 trading sessions.

The current Flaherty & Crumrine Preferred Income Fund drawdown is 20.43%.

The chart below shows the rolling one-month volatility.