CLDL vs. PFLD

Last updated Jun 5, 2026

CLDL (Direxion Daily Cloud Computing Bull 2X Shares) and PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) are both exchange-traded funds - CLDL is a Leveraged Equities fund actively managed by Direxion, while PFLD is a Preferred Stock/Convertible Bonds fund tracking the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. CLDL is actively managed, while PFLD is passively managed. At a 0.37 correlation, their price movements are largely independent. CLDL charges 0.95%/yr vs 0.45%/yr for PFLD.

Performance

CLDL vs. PFLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and AAM Low Duration Preferred and Income Securities ETF 144A (PFLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CLDL

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFLD

• 1D: -0.10%
• 1M: 0.43%
• YTD: 2.58%
• 6M: 3.06%
• 1Y: 5.71%
• 3Y*: 5.03%
• 5Y*: 1.02%
• 10Y*: —

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

CLDL vs. PFLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CLDL Direxion Daily Cloud Computing Bull 2X Shares	0.00%	3.74%	25.41%	84.75%	-72.32%	-15.05%
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	2.58%	1.44%	5.48%	8.16%	-12.73%	5.39%

Correlation

The correlation between CLDL and PFLD is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jan 11, 2021	0.37

The correlation between CLDL and PFLD shifts across timeframes, from -0.10 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

CLDL vs. PFLD - Sectors Allocation Comparison

Sectors	CLDL	PFLD
Technology	94.5%	-
Healthcare	5.5%	-
Communication Services	1.1%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	100.0%

Return for Risk

CLDL vs. PFLD — Risk / Return Rank

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

PFLD

PFLD Risk / Return Rank: 55
PFLD Sharpe Ratio Rank: 50
PFLD Sortino Ratio Rank: 59
PFLD Omega Ratio Rank: 52
PFLD Calmar Ratio Rank: 53
PFLD Martin Ratio Rank: 64

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.

CLDL vs. PFLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Cloud Computing Bull 2X Shares (CLDL) and AAM Low Duration Preferred and Income Securities ETF 144A (PFLD). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CLDL	PFLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.70	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.16	—

Drawdowns

Drawdown Indicators

	CLDL	PFLD	Difference
Max Drawdown Largest peak-to-trough decline	—	-33.20%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.23%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-6.41%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.51%	—
Current Drawdown Current decline from peak	—	-0.10%	—
Average Drawdown Average peak-to-trough decline	—	-4.17%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.50%	—

Volatility

Volatility by Period

	CLDL	PFLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.40%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	7.50%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	13.37%	—

CLDL vs. PFLD - Expense Ratio Comparison

CLDL has a 0.95% expense ratio, which is higher than PFLD's 0.45% expense ratio.

Dividends

CLDL vs. PFLD - Dividend Comparison

CLDL's dividend yield for the trailing twelve months is around 0.21%, less than PFLD's 5.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
CLDL Direxion Daily Cloud Computing Bull 2X Shares	0.21%	0.26%	0.00%	0.00%	0.00%	4.78%	0.00%	0.00%
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	5.60%	6.52%	7.09%	7.09%	5.76%	4.52%	4.79%	0.82%

Frequently Asked Questions

Can I hold both CLDL and PFLD in my portfolio?

CLDL and PFLD have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CLDL or PFLD?

On fees, PFLD is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CLDL or PFLD?

PFLD is cheaper with a 0.45% expense ratio, compared with 0.95% for CLDL.

Which ETF pays a higher dividend yield, CLDL or PFLD?

PFLD has the higher dividend yield at 5.60%, compared with 0.21% for CLDL.

What is the main difference between CLDL and PFLD?

CLDL is categorized as Leveraged Equities, while PFLD is Preferred Stock/Convertible Bonds. They also come from different issuers: Direxion and Advisors Asset Management. Their fees differ too: 0.95% for CLDL and 0.45% for PFLD.