EPRF vs. PFFV

Last updated Apr 1, 2026

Compare and contrast key facts about Innovator S&P High Quality Preferred ETF (EPRF) and Global X Variable Rate Preferred ETF (PFFV).

EPRF and PFFV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EPRF is a passively managed fund by Innovator that tracks the performance of the S&P U.S. High Quality Preferred Stock Index. It was launched on May 24, 2016. PFFV is a passively managed fund by Global X that tracks the performance of the ICE U.S. Variable Rate Preferred Securities Index. It was launched on Jun 22, 2020. Both EPRF and PFFV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EPRF vs. PFFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator S&P High Quality Preferred ETF (EPRF) and Global X Variable Rate Preferred ETF (PFFV). The values are adjusted to include any dividend payments, if applicable.

EPRF vs. PFFV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EPRF Innovator S&P High Quality Preferred ETF	-4.28%	2.69%	3.46%	9.43%	-20.68%	1.37%	8.58%
PFFV Global X Variable Rate Preferred ETF	-0.58%	2.08%	9.45%	10.64%	-13.81%	6.35%	13.36%

Returns By Period

In the year-to-date period, EPRF achieves a -4.28% return, which is significantly lower than PFFV's -0.58% return.

EPRF

• 1D: 0.12%
• 1M: -3.39%
• YTD: -4.28%
• 6M: -6.59%
• 1Y: -0.37%
• 3Y*: 2.18%
• 5Y*: -2.07%
• 10Y*: —

PFFV

• 1D: -0.05%
• 1M: -2.10%
• YTD: -0.58%
• 6M: -1.34%
• 1Y: -0.06%
• 3Y*: 6.19%
• 5Y*: 2.00%
• 10Y*: —

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

EPRF vs. PFFV - Expense Ratio Comparison

EPRF has a 0.47% expense ratio, which is higher than PFFV's 0.25% expense ratio.

EPRF

Innovator S&P High Quality Preferred ETF

PFFV

Global X Variable Rate Preferred ETF

Return for Risk

EPRF vs. PFFV — Risk / Return Rank

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

EPRF

EPRF Risk / Return Rank: 10
EPRF Sharpe Ratio Rank: 11
EPRF Sortino Ratio Rank: 10
EPRF Omega Ratio Rank: 10
EPRF Calmar Ratio Rank: 11
EPRF Martin Ratio Rank: 10

PFFV

PFFV Risk / Return Rank: 12
PFFV Sharpe Ratio Rank: 12
PFFV Sortino Ratio Rank: 10
PFFV Omega Ratio Rank: 10
PFFV Calmar Ratio Rank: 13
PFFV Martin Ratio Rank: 13

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.

EPRF vs. PFFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator S&P High Quality Preferred ETF (EPRF) and Global X Variable Rate Preferred ETF (PFFV). 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.

	EPRF	PFFV	Difference
Sharpe ratio Return per unit of total volatility	-0.04	-0.01	-0.03
Sortino ratio Return per unit of downside risk	0.00	0.02	-0.02
Omega ratio Gain probability vs. loss probability	1.00	1.00	0.00
Calmar ratio Return relative to maximum drawdown	-0.08	0.04	-0.12
Martin ratio Return relative to average drawdown	-0.20	0.13	-0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPRF vs. PFFV - Sharpe Ratio Comparison

The current EPRF Sharpe Ratio is -0.04, which is lower than the PFFV Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of EPRF and PFFV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EPRF	PFFV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.04	-0.01	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	0.23	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.49	-0.43

Correlation

The correlation between EPRF and PFFV is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EPRF vs. PFFV - Dividend Comparison

EPRF's dividend yield for the trailing twelve months is around 6.30%, less than PFFV's 8.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPRF Innovator S&P High Quality Preferred ETF	6.30%	6.03%	6.13%	5.71%	5.67%	4.70%	4.92%	5.01%	5.27%	2.59%
PFFV Global X Variable Rate Preferred ETF	8.35%	8.26%	7.33%	7.17%	6.60%	5.23%	2.29%	0.00%	0.00%	0.00%

Drawdowns

EPRF vs. PFFV - Drawdown Comparison

The maximum EPRF drawdown since its inception was -26.82%, which is greater than PFFV's maximum drawdown of -18.96%. Use the drawdown chart below to compare losses from any high point for EPRF and PFFV.

Drawdown Indicators

	EPRF	PFFV	Difference
Max Drawdown Largest peak-to-trough decline	-26.82%	-18.96%	-7.86%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-4.35%	-4.24%
Max Drawdown (5Y) Largest decline over 5 years	-25.23%	-18.96%	-6.27%
Current Drawdown Current decline from peak	-12.78%	-3.23%	-9.55%
Average Drawdown Average peak-to-trough decline	-7.31%	-4.29%	-3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	1.50%	+1.75%

Volatility

EPRF vs. PFFV - Volatility Comparison

Innovator S&P High Quality Preferred ETF (EPRF) has a higher volatility of 2.42% compared to Global X Variable Rate Preferred ETF (PFFV) at 1.48%. This indicates that EPRF's price experiences larger fluctuations and is considered to be riskier than PFFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPRF	PFFV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	1.48%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	5.27%	2.94%	+2.33%
Volatility (1Y) Calculated over the trailing 1-year period	8.88%	5.62%	+3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.73%	8.85%	+2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.57%	8.79%	+4.78%