EPRF vs. PQDI
EPRF (Innovator S&P High Quality Preferred ETF) and PQDI (Principal Spectrum Preferred and Income ETF) are both Preferred Stock/Convertible Bonds funds - EPRF tracks the S&P U.S. High Quality Preferred Stock Index while PQDI tracks the ICE BofA 7% Constrained DRD Eligible Preferred Securities Index. Both are passively managed. Over the past 5 years, EPRF returned -2.25%/yr vs 3.17%/yr for PQDI. A 0.58 correlation means they provide meaningful diversification when combined. EPRF charges 0.47%/yr vs 0.60%/yr for PQDI.
Performance
EPRF vs. PQDI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EPRF achieves a -2.73% return, which is significantly lower than PQDI's 1.86% return.
EPRF
- 1D
- -0.03%
- 1M
- -0.88%
- 6M
- -4.47%
- YTD
- -2.73%
- 1Y
- -2.13%
- 3Y*
- 2.81%
- 5Y*
- -2.25%
- 10Y*
- —
PQDI
- 1D
- 0.03%
- 1M
- 0.50%
- 6M
- 1.25%
- YTD
- 1.86%
- 1Y
- 5.87%
- 3Y*
- 9.04%
- 5Y*
- 3.17%
- 10Y*
- —
EPRF vs. PQDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | -2.73% | 2.69% | 3.46% | 9.43% | -20.68% | 1.37% | 8.22% |
PQDI Principal Spectrum Preferred and Income ETF | 1.86% | 8.46% | 9.99% | 6.24% | -9.61% | 3.10% | 9.95% |
Correlation
The correlation between EPRF and PQDI is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2020 | 0.58 |
The correlation between EPRF and PQDI has been stable across timeframes, ranging from 0.58 to 0.62 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EPRF vs. PQDI — Risk / Return Rank
EPRF
PQDI
EPRF vs. PQDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator S&P High Quality Preferred ETF (EPRF) and Principal Spectrum Preferred and Income ETF (PQDI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EPRF | PQDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.13 | ||
| Sortino ratioReturn per unit of downside risk | -3.04 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.37 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.31 | 1.76 | -2.07 |
| Martin ratioReturn relative to average drawdown | -0.60 | 7.74 | -8.34 |
Loading charts...
Drawdowns
EPRF vs. PQDI - Drawdown Comparison
The maximum EPRF drawdown since its inception was -26.82%, which is greater than PQDI's maximum drawdown of -17.41%. Use the drawdown chart below to compare losses from any high point for EPRF and PQDI.
Loading charts...
Drawdown Indicators
| EPRF | PQDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.82% | -17.41% | -9.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -3.31% | -5.28% |
Max Drawdown (3Y)Largest decline over 3 years | -12.29% | -3.31% | -8.98% |
Max Drawdown (5Y)Largest decline over 5 years | -25.23% | -17.41% | -7.82% |
Current DrawdownCurrent decline from peak | -11.37% | -0.39% | -10.98% |
Average DrawdownAverage peak-to-trough decline | -7.41% | -3.45% | -3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.54% | 0.75% | +3.79% |
Volatility
EPRF vs. PQDI - Volatility Comparison
Innovator S&P High Quality Preferred ETF (EPRF) has a higher volatility of 2.31% compared to Principal Spectrum Preferred and Income ETF (PQDI) at 0.83%. This indicates that EPRF's price experiences larger fluctuations and is considered to be riskier than PQDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EPRF | PQDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 0.83% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 5.53% | 2.91% | +2.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.57% | 3.28% | +4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.84% | 4.70% | +7.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.43% | 4.53% | +8.90% |
EPRF vs. PQDI - Expense Ratio Comparison
EPRF has a 0.47% expense ratio, which is lower than PQDI's 0.60% expense ratio.
Dividends
EPRF vs. PQDI - Dividend Comparison
EPRF's dividend yield for the trailing twelve months is around 6.20%, more than PQDI's 5.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | 6.20% | 6.03% | 6.13% | 5.71% | 5.67% | 4.70% | 4.92% | 5.01% | 5.27% | 2.59% |
PQDI Principal Spectrum Preferred and Income ETF | 5.57% | 5.02% | 4.93% | 5.35% | 5.60% | 5.21% | 2.69% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EPRF and PQDI have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPRF has higher volatility (2.31%) compared to PQDI (0.83%). In terms of maximum drawdown, EPRF dropped -26.82% vs PQDI's -17.41%.
On 5-year performance, PQDI leads with 3.17% vs -2.25% for EPRF. On fees, EPRF is cheaper at 0.47% per year. On volatility, PQDI has been the lower-risk option at 0.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PQDI has performed better with a 3.17% return vs -2.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPRF is cheaper with a 0.47% expense ratio, compared with 0.60% for PQDI.
EPRF has the higher dividend yield at 6.20%, compared with 5.57% for PQDI.
EPRF tracks S&P U.S. High Quality Preferred Stock Index, while PQDI tracks ICE BofA 7% Constrained DRD Eligible Preferred Securities Index. They also come from different issuers: Innovator and Principal. Their fees differ too: 0.47% for EPRF and 0.60% for PQDI.
PQDI currently has the higher Sharpe Ratio (1.77 vs -0.36), 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.
Find the right allocation for EPRF and PQDI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer