FIQSX vs. PFFD

Last updated Jun 23, 2026

FIQSX (Fidelity Advisor Floating Rate High Income Fund Class Z) and PFFD (Global X U.S. Preferred ETF) are both funds - FIQSX is a High Yield Bonds fund managed by Fidelity, while PFFD is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA Diversified Core U.S. Preferred Securities Index. Over the past 5 years, FIQSX returned 5.59%/yr vs -0.48%/yr for PFFD. At a 0.27 correlation, their price movements are largely independent. FIQSX charges 0.62%/yr vs 0.23%/yr for PFFD.

Performance

FIQSX vs. PFFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) and Global X U.S. Preferred ETF (PFFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FIQSX having a 1.73% return and PFFD slightly higher at 1.75%.

FIQSX

• 1D: 0.00%
• 1M: 0.23%
• YTD: 1.73%
• 6M: 2.34%
• 1Y: 5.95%
• 3Y*: 7.49%
• 5Y*: 5.59%
• 10Y*: —

PFFD

• 1D: -0.79%
• 1M: 0.10%
• YTD: 1.75%
• 6M: 1.05%
• 1Y: 7.25%
• 3Y*: 5.74%
• 5Y*: -0.48%
• 10Y*: —

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

FIQSX vs. PFFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIQSX Fidelity Advisor Floating Rate High Income Fund Class Z	1.73%	5.53%	8.80%	11.71%	-1.49%	5.06%	1.86%	8.56%	-3.27%
PFFD Global X U.S. Preferred ETF	1.75%	3.22%	7.07%	6.85%	-20.20%	5.07%	8.90%	17.43%	-2.40%

Correlation

The correlation between FIQSX and PFFD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.27

Return for Risk

FIQSX vs. PFFD — Risk / Return Rank

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

FIQSX

FIQSX Risk / Return Rank: 94
FIQSX Sharpe Ratio Rank: 89
FIQSX Sortino Ratio Rank: 98
FIQSX Omega Ratio Rank: 97
FIQSX Calmar Ratio Rank: 94
FIQSX Martin Ratio Rank: 92

PFFD

PFFD Risk / Return Rank: 27
PFFD Sharpe Ratio Rank: 28
PFFD Sortino Ratio Rank: 27
PFFD Omega Ratio Rank: 25
PFFD Calmar Ratio Rank: 26
PFFD Martin Ratio Rank: 27

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.

FIQSX vs. PFFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) and Global X U.S. Preferred ETF (PFFD). 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.

	FIQSX	PFFD	Difference
Sharpe ratio: Return per unit of total volatility	2.72	0.99	+1.72
Sortino ratio: Return per unit of downside risk	6.45	1.44	+5.01
Omega ratio: Gain probability vs. loss probability	2.00	1.17	+0.83
Calmar ratio: Return relative to maximum drawdown	5.13	1.22	+3.91
Martin ratio: Return relative to average drawdown	17.34	3.57	+13.77

FIQSX vs. PFFD - Sharpe Ratio Comparison

The current FIQSX Sharpe Ratio is 2.72, which is higher than the PFFD Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of FIQSX and PFFD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIQSX vs. PFFD - Drawdown Comparison

The maximum FIQSX drawdown since its inception was -22.19%, smaller than the maximum PFFD drawdown of -30.93%. Use the drawdown chart below to compare losses from any high point for FIQSX and PFFD.

Drawdown Indicators

	FIQSX	PFFD	Difference
Max Drawdown Largest peak-to-trough decline	-22.19%	-30.93%	+8.74%
Max Drawdown (1Y) Largest decline over 1 year	-1.19%	-5.97%	+4.78%
Max Drawdown (3Y) Largest decline over 3 years	-3.18%	-10.84%	+7.66%
Max Drawdown (5Y) Largest decline over 5 years	-5.86%	-24.45%	+18.59%
Current Drawdown Current decline from peak	-0.33%	-4.19%	+3.86%
Average Drawdown Average peak-to-trough decline	-1.10%	-6.57%	+5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	2.04%	-1.69%

Volatility

FIQSX vs. PFFD - Volatility Comparison

The current volatility for Fidelity Advisor Floating Rate High Income Fund Class Z (FIQSX) is 0.64%, while Global X U.S. Preferred ETF (PFFD) has a volatility of 1.99%. This indicates that FIQSX experiences smaller price fluctuations and is considered to be less risky than PFFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIQSX	PFFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	1.99%	-1.35%
Volatility (6M) Calculated over the trailing 6-month period	1.56%	5.46%	-3.90%
Volatility (1Y) Calculated over the trailing 1-year period	2.24%	7.36%	-5.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.87%	11.01%	-8.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.62%	12.73%	-8.11%

FIQSX vs. PFFD - Expense Ratio Comparison

FIQSX has a 0.62% expense ratio, which is higher than PFFD's 0.23% expense ratio.

Dividends

FIQSX vs. PFFD - Dividend Comparison

FIQSX's dividend yield for the trailing twelve months is around 7.15%, more than PFFD's 6.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIQSX Fidelity Advisor Floating Rate High Income Fund Class Z	7.15%	7.47%	8.40%	7.55%	3.86%	2.79%	3.90%	5.20%	1.37%	0.00%
PFFD Global X U.S. Preferred ETF	6.40%	6.37%	6.42%	6.49%	6.63%	5.09%	5.17%	5.48%	6.21%	1.94%

Frequently Asked Questions

Can I hold both FIQSX and PFFD in my portfolio?

FIQSX and PFFD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIQSX or PFFD?

PFFD has higher volatility (1.99%) compared to FIQSX (0.64%). In terms of maximum drawdown, FIQSX dropped -22.19% vs PFFD's -30.93%.

Which has better risk-adjusted returns?

FIQSX currently has the higher Sharpe Ratio (2.72 vs 0.99), 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.