EPRF vs. PSK
EPRF (Innovator S&P High Quality Preferred ETF) and PSK (SPDR ICE Preferred Securities ETF) are both Preferred Stock funds - EPRF tracks the S&P U.S. High Quality Preferred Stock Index while PSK tracks the PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index. Both are passively managed. Over the past 5 years, EPRF returned -2.08%/yr vs -1.30%/yr for PSK. Their 0.79 correlation means they have sometimes moved together and sometimes differently. EPRF charges 0.47%/yr vs 0.45%/yr for PSK.
Performance
EPRF vs. PSK - Performance Comparison
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Returns By Period
In the year-to-date period, EPRF achieves a -1.88% return, which is significantly lower than PSK's -1.29% return.
EPRF
- 1D
- -0.57%
- 1M
- 0.18%
- 6M
- -2.13%
- YTD
- -1.88%
- 1Y
- -2.12%
- 3Y*
- 3.06%
- 5Y*
- -2.08%
- 10Y*
- —
- ALL TIME*
- 1.13%
PSK
- 1D
- -0.30%
- 1M
- -1.50%
- 6M
- -3.10%
- YTD
- -1.29%
- 1Y
- -0.64%
- 3Y*
- 3.39%
- 5Y*
- -1.30%
- 10Y*
- 1.79%
- ALL TIME*
- 4.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $155.31K | $131.83K | $174.01K | |
| $3.91M | $3.40M | $2.77M |
EPRF vs. PSK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | -1.88% | 2.69% | 3.46% | 9.43% | -20.68% | 1.37% | 7.38% | 19.54% | -5.58% | -0.39% |
PSK SPDR ICE Preferred Securities ETF | -1.29% | 2.69% | 4.81% | 8.91% | -18.86% | 1.57% | 6.37% | 17.59% | -4.54% | 0.78% |
Correlation
The correlation between EPRF and PSK is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2017 | 0.79 |
The correlation between EPRF and PSK has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.
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Return for Risk
EPRF vs. PSK — Risk / Return Rank
EPRF
PSK
EPRF vs. PSK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator S&P High Quality Preferred ETF (EPRF) and SPDR ICE Preferred Securities ETF (PSK). 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 | PSK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.99 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | -0.12 | -0.13 |
| Martin ratioReturn relative to average drawdown | -0.44 | -0.21 | -0.23 |
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Drawdowns
EPRF vs. PSK - Drawdown Comparison
The maximum EPRF drawdown since its inception was -26.82%, smaller than the maximum PSK drawdown of -30.10%. Use the drawdown chart below to compare losses from any high point for EPRF and PSK.
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Drawdown Indicators
| EPRF | PSK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.82% | -30.10% | +3.28% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -5.50% | -3.09% |
Max Drawdown (3Y)Largest decline over 3 years | -12.29% | -10.30% | -1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -25.23% | -22.23% | -3.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.10% | — |
Current DrawdownCurrent decline from peak | -10.60% | -6.65% | -3.95% |
Average DrawdownAverage peak-to-trough decline | -7.44% | -4.00% | -3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.87% | 3.09% | +1.78% |
Volatility
EPRF vs. PSK - Volatility Comparison
Innovator S&P High Quality Preferred ETF (EPRF) has a higher volatility of 2.06% compared to SPDR ICE Preferred Securities ETF (PSK) at 1.12%. This indicates that EPRF's price experiences larger fluctuations and is considered to be riskier than PSK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EPRF | PSK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.06% | 1.12% | +0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 5.54% | 4.29% | +1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.45% | 5.86% | +1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.86% | 10.76% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.39% | 11.88% | +1.51% |
EPRF vs. PSK - Expense Ratio Comparison
EPRF has a 0.47% expense ratio, which is higher than PSK's 0.45% expense ratio.
Dividends
EPRF vs. PSK - Dividend Comparison
EPRF's dividend yield for the trailing twelve months is around 6.15%, less than PSK's 7.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | 6.15% | 6.03% | 6.13% | 5.71% | 5.67% | 4.70% | 4.92% | 5.01% | 5.27% | 2.59% | 0.00% | 0.00% |
PSK SPDR ICE Preferred Securities ETF | 7.19% | 6.82% | 6.55% | 6.44% | 6.55% | 5.03% | 5.08% | 5.44% | 6.47% | 6.91% | 5.92% | 5.35% |
Frequently Asked Questions
EPRF and PSK have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPRF has higher volatility (2.06%) compared to PSK (1.12%). In terms of maximum drawdown, EPRF dropped -26.82% vs PSK's -30.10%.
On 5-year performance, PSK leads with -1.30% vs -2.08% for EPRF. On fees, PSK is cheaper at 0.45% per year. On volatility, PSK has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PSK has performed better with a -1.30% return vs -2.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSK is cheaper with a 0.45% expense ratio, compared with 0.47% for EPRF.
PSK has the higher dividend yield at 7.19%, compared with 6.15% for EPRF.
EPRF tracks S&P U.S. High Quality Preferred Stock Index, while PSK tracks PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index. They also come from different issuers: Innovator and State Street. Their fees differ too: 0.47% for EPRF and 0.45% for PSK.
PSK currently has the higher Sharpe Ratio (-0.11 vs -0.29), 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.
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