EPRF vs. PRFD

Last updated Jun 4, 2026

EPRF (Innovator S&P High Quality Preferred ETF) and PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) are both Preferred Stock/Convertible Bonds funds. EPRF is passively managed, while PRFD is actively managed. Over the past 3 years, EPRF returned 2.39%/yr vs 9.23%/yr for PRFD. A 0.52 correlation means they provide meaningful diversification when combined. EPRF charges 0.47%/yr vs 0.74%/yr for PRFD.

Performance

EPRF vs. PRFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator S&P High Quality Preferred ETF (EPRF) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPRF achieves a -2.39% return, which is significantly lower than PRFD's 1.40% return.

EPRF

• 1D: -0.41%
• 1M: -1.18%
• YTD: -2.39%
• 6M: -2.28%
• 1Y: 2.04%
• 3Y*: 2.39%
• 5Y*: -1.97%
• 10Y*: —

PRFD

• 1D: -0.20%
• 1M: 0.36%
• YTD: 1.40%
• 6M: 1.56%
• 1Y: 8.04%
• 3Y*: 9.23%
• 5Y*: —
• 10Y*: —

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

EPRF vs. PRFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EPRF Innovator S&P High Quality Preferred ETF	-2.39%	2.69%	3.46%	-0.50%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	1.40%	8.45%	9.92%	1.83%

Correlation

The correlation between EPRF and PRFD is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.52

The correlation between EPRF and PRFD shifts across timeframes, from 0.38 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

EPRF vs. PRFD - Sectors Allocation Comparison

Sectors	EPRF	PRFD
Financial Services	55.9%	2.0%
Real Estate	7.6%	-
Basic Materials	-	-
Communication Services	-	0.3%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

EPRF vs. PRFD — Risk / Return Rank

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

EPRF

EPRF Risk / Return Rank: 12
EPRF Sharpe Ratio Rank: 13
EPRF Sortino Ratio Rank: 11
EPRF Omega Ratio Rank: 11
EPRF Calmar Ratio Rank: 11
EPRF Martin Ratio Rank: 11

PRFD

PRFD Risk / Return Rank: 69
PRFD Sharpe Ratio Rank: 77
PRFD Sortino Ratio Rank: 78
PRFD Omega Ratio Rank: 84
PRFD Calmar Ratio Rank: 50
PRFD Martin Ratio Rank: 58

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. PRFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator S&P High Quality Preferred ETF (EPRF) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). 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	PRFD	Difference
Sharpe ratio Return per unit of total volatility	0.27	2.51	-2.24
Sortino ratio Return per unit of downside risk	0.44	3.51	-3.07
Omega ratio Gain probability vs. loss probability	1.05	1.51	-0.46
Calmar ratio Return relative to maximum drawdown	0.24	2.46	-2.22
Martin ratio Return relative to average drawdown	0.51	10.14	-9.63
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. PRFD - Sharpe Ratio Comparison

The current EPRF Sharpe Ratio is 0.27, which is lower than the PRFD Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of EPRF and PRFD, 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

	EPRF	PRFD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.27	2.51	-2.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	1.31	-1.23

Drawdowns

EPRF vs. PRFD - Drawdown Comparison

The maximum EPRF drawdown since its inception was -26.82%, which is greater than PRFD's maximum drawdown of -11.93%. Use the drawdown chart below to compare losses from any high point for EPRF and PRFD.

Drawdown Indicators

	EPRF	PRFD	Difference
Max Drawdown Largest peak-to-trough decline	-26.82%	-11.93%	-14.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-3.28%	-5.31%
Max Drawdown (3Y) Largest decline over 3 years	-12.29%	-6.28%	-6.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.23%	—	—
Current Drawdown Current decline from peak	-11.06%	-0.61%	-10.45%
Average Drawdown Average peak-to-trough decline	-7.37%	-2.23%	-5.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	0.79%	+3.22%

Volatility

EPRF vs. PRFD - Volatility Comparison

Innovator S&P High Quality Preferred ETF (EPRF) has a higher volatility of 2.14% compared to PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) at 1.19%. This indicates that EPRF's price experiences larger fluctuations and is considered to be riskier than PRFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPRF	PRFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.14%	1.19%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	5.46%	2.68%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	7.55%	3.21%	+4.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.81%	4.88%	+6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.49%	4.88%	+8.61%

EPRF vs. PRFD - Expense Ratio Comparison

EPRF has a 0.47% expense ratio, which is lower than PRFD's 0.74% expense ratio.

Dividends

EPRF vs. PRFD - Dividend Comparison

EPRF's dividend yield for the trailing twelve months is around 6.18%, more than PRFD's 5.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPRF Innovator S&P High Quality Preferred ETF	6.18%	6.03%	6.13%	5.71%	5.67%	4.70%	4.92%	5.01%	5.27%	2.59%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.77%	5.63%	5.53%	5.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EPRF and PRFD in my portfolio?

EPRF and PRFD have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPRF or PRFD?

EPRF has higher volatility (2.14%) compared to PRFD (1.19%). In terms of maximum drawdown, EPRF dropped -26.82% vs PRFD's -11.93%.

Which ETF is better, EPRF or PRFD?

On 3-year performance, PRFD leads with 9.23% vs 2.39% for EPRF. On fees, EPRF is cheaper at 0.47% per year. On volatility, PRFD has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPRF or PRFD?

Over the 3-year period, PRFD has performed better with a 9.23% return vs 2.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPRF or PRFD?

EPRF is cheaper with a 0.47% expense ratio, compared with 0.74% for PRFD.

Which ETF pays a higher dividend yield, EPRF or PRFD?

EPRF has the higher dividend yield at 6.18%, compared with 5.77% for PRFD.

What is the main difference between EPRF and PRFD?

They also come from different issuers: Innovator and PIMCO. Their fees differ too: 0.47% for EPRF and 0.74% for PRFD.

Which has better risk-adjusted returns?

PRFD currently has the higher Sharpe Ratio (2.51 vs 0.27), 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.