AMZA vs. PFFR

Last updated Jun 4, 2026

AMZA (InfraCap MLP ETF) and PFFR (InfraCap REIT Preferred ETF) are both exchange-traded funds - AMZA is a MLPs fund actively managed by Virtus Investment Partners, while PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index. AMZA is actively managed, while PFFR is passively managed. Over the past 5 years, AMZA returned 19.41%/yr vs 0.97%/yr for PFFR. At a 0.26 correlation, their price movements are largely independent. AMZA charges 2.01%/yr vs 0.45%/yr for PFFR.

Performance

AMZA vs. PFFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap MLP ETF (AMZA) and InfraCap REIT Preferred ETF (PFFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMZA achieves a 22.22% return, which is significantly higher than PFFR's 0.80% return.

AMZA

• 1D: 0.39%
• 1M: -0.92%
• YTD: 22.22%
• 6M: 20.41%
• 1Y: 17.55%
• 3Y*: 22.02%
• 5Y*: 19.41%
• 10Y*: 4.86%

PFFR

• 1D: -0.22%
• 1M: -0.75%
• YTD: 0.80%
• 6M: 0.96%
• 1Y: 6.82%
• 3Y*: 9.27%
• 5Y*: 0.97%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMZA vs. PFFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMZA InfraCap MLP ETF	22.22%	0.17%	30.90%	23.35%	33.20%	51.22%	-49.25%	6.27%	-26.78%	-10.60%
PFFR InfraCap REIT Preferred ETF	0.80%	5.36%	7.12%	21.04%	-23.90%	6.76%	0.19%	20.28%	-7.45%	7.60%

Correlation

The correlation between AMZA and PFFR is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017	0.26

Over the past year, the correlation between AMZA and PFFR has dropped to 0.05 - well below their long-term average of 0.26, suggesting their price drivers have been diverging.

AMZA vs. PFFR - Sectors Allocation Comparison

Sectors	AMZA	PFFR
Energy	99.8%	-
Utilities	0.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	5.3%
Healthcare	-	-
Industrials	-	-
Real Estate	-	84.9%
Technology	-	-

Return for Risk

AMZA vs. PFFR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMZA

AMZA Risk / Return Rank: 27
AMZA Sharpe Ratio Rank: 27
AMZA Sortino Ratio Rank: 27
AMZA Omega Ratio Rank: 25
AMZA Calmar Ratio Rank: 29
AMZA Martin Ratio Rank: 26

PFFR

PFFR Risk / Return Rank: 23
PFFR Sharpe Ratio Rank: 24
PFFR Sortino Ratio Rank: 23
PFFR Omega Ratio Rank: 23
PFFR Calmar Ratio Rank: 23
PFFR Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMZA vs. PFFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap MLP ETF (AMZA) and InfraCap REIT Preferred ETF (PFFR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AMZA	PFFR	Difference
Sharpe ratio Return per unit of total volatility	1.00	0.87	+0.13
Sortino ratio Return per unit of downside risk	1.48	1.27	+0.20
Omega ratio Gain probability vs. loss probability	1.17	1.16	+0.02
Calmar ratio Return relative to maximum drawdown	1.45	1.04	+0.41
Martin ratio Return relative to average drawdown	3.65	2.44	+1.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMZA vs. PFFR - Sharpe Ratio Comparison

The current AMZA Sharpe Ratio is 1.00, which is comparable to the PFFR Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of AMZA and PFFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMZA	PFFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	0.87	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.09	+0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.16	-0.18

Drawdowns

AMZA vs. PFFR - Drawdown Comparison

The maximum AMZA drawdown since its inception was -91.46%, which is greater than PFFR's maximum drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for AMZA and PFFR.

Drawdown Indicators

	AMZA	PFFR	Difference
Max Drawdown Largest peak-to-trough decline	-91.46%	-53.02%	-38.44%
Max Drawdown (1Y) Largest decline over 1 year	-12.16%	-6.57%	-5.59%
Max Drawdown (3Y) Largest decline over 3 years	-18.56%	-11.16%	-7.40%
Max Drawdown (5Y) Largest decline over 5 years	-25.15%	-29.80%	+4.65%
Max Drawdown (10Y) Largest decline over 10 years	-86.84%	—	—
Current Drawdown Current decline from peak	-10.19%	-3.05%	-7.14%
Average Drawdown Average peak-to-trough decline	-45.02%	-7.00%	-38.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.82%	2.80%	+2.02%

Volatility

AMZA vs. PFFR - Volatility Comparison

InfraCap MLP ETF (AMZA) has a higher volatility of 5.80% compared to InfraCap REIT Preferred ETF (PFFR) at 2.81%. This indicates that AMZA's price experiences larger fluctuations and is considered to be riskier than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMZA	PFFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.80%	2.81%	+2.99%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	6.14%	+7.26%
Volatility (1Y) Calculated over the trailing 1-year period	17.72%	7.91%	+9.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.84%	10.47%	+15.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.25%	20.54%	+16.71%

AMZA vs. PFFR - Expense Ratio Comparison

AMZA has a 2.01% expense ratio, which is higher than PFFR's 0.45% expense ratio.

Dividends

AMZA vs. PFFR - Dividend Comparison

AMZA's dividend yield for the trailing twelve months is around 8.02%, less than PFFR's 8.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMZA InfraCap MLP ETF	8.02%	8.81%	7.29%	9.40%	7.65%	10.24%	22.13%	19.47%	34.46%	24.16%	18.36%	18.21%
PFFR InfraCap REIT Preferred ETF	8.29%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMZA and PFFR in my portfolio?

AMZA and PFFR have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMZA or PFFR?

AMZA has higher volatility (5.80%) compared to PFFR (2.81%). In terms of maximum drawdown, AMZA dropped -91.46% vs PFFR's -53.02%.

Which ETF is better, AMZA or PFFR?

On 5-year performance, AMZA leads with 19.41% vs 0.97% for PFFR. On fees, PFFR is cheaper at 0.45% per year. On volatility, PFFR has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMZA or PFFR?

Over the 5-year period, AMZA has performed better with a 19.41% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMZA or PFFR?

PFFR is cheaper with a 0.45% expense ratio, compared with 2.01% for AMZA.

Which ETF pays a higher dividend yield, AMZA or PFFR?

PFFR has the higher dividend yield at 8.29%, compared with 8.02% for AMZA.

What is the main difference between AMZA and PFFR?

AMZA is categorized as MLPs, while PFFR is Preferred Stock/Convertible Bonds. Their fees differ too: 2.01% for AMZA and 0.45% for PFFR.

Which has better risk-adjusted returns?

AMZA currently has the higher Sharpe Ratio (1.00 vs 0.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.