FTSL vs. PFFD
FTSL (First Trust Senior Loan Fund) and PFFD (Global X U.S. Preferred ETF) are both exchange-traded funds - FTSL is a High Yield Bonds fund actively managed by First Trust, while PFFD is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA Diversified Core U.S. Preferred Securities Index. FTSL is actively managed, while PFFD is passively managed. Over the past 5 years, FTSL returned 5.02%/yr vs -0.48%/yr for PFFD. At a 0.34 correlation, their price movements are largely independent. FTSL charges 0.86%/yr vs 0.23%/yr for PFFD.
Performance
FTSL vs. PFFD - Performance Comparison
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Returns By Period
In the year-to-date period, FTSL achieves a 0.66% return, which is significantly lower than PFFD's 1.75% return.
FTSL
- 1D
- -0.02%
- 1M
- 0.21%
- YTD
- 0.66%
- 6M
- 0.71%
- 1Y
- 4.21%
- 3Y*
- 7.15%
- 5Y*
- 5.02%
- 10Y*
- 4.45%
PFFD
- 1D
- -0.79%
- 1M
- 0.10%
- YTD
- 1.75%
- 6M
- 1.05%
- 1Y
- 7.25%
- 3Y*
- 5.74%
- 5Y*
- -0.48%
- 10Y*
- —
FTSL vs. PFFD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 0.66% | 5.98% | 8.27% | 11.58% | -2.50% | 3.94% | 2.99% | 10.11% | -1.30% | 0.73% |
PFFD Global X U.S. Preferred ETF | 1.75% | 3.22% | 7.07% | 6.85% | -20.20% | 5.07% | 8.90% | 17.43% | -3.94% | 0.69% |
Correlation
The correlation between FTSL and PFFD is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2017 | 0.34 |
The correlation between FTSL and PFFD shifts across timeframes, from 0.34 (all time) to 0.47 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FTSL vs. PFFD — Risk / Return Rank
FTSL
PFFD
FTSL vs. PFFD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Senior Loan Fund (FTSL) 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.
| FTSL | PFFD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.17 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | 1.22 | +0.60 |
| Martin ratioReturn relative to average drawdown | 6.74 | 3.57 | +3.17 |
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Drawdowns
FTSL vs. PFFD - Drawdown Comparison
The maximum FTSL drawdown since its inception was -22.67%, smaller than the maximum PFFD drawdown of -30.93%. Use the drawdown chart below to compare losses from any high point for FTSL and PFFD.
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Drawdown Indicators
| FTSL | PFFD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.67% | -30.93% | +8.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.33% | -5.97% | +3.64% |
Max Drawdown (3Y)Largest decline over 3 years | -2.66% | -10.84% | +8.18% |
Max Drawdown (5Y)Largest decline over 5 years | -6.96% | -24.45% | +17.49% |
Max Drawdown (10Y)Largest decline over 10 years | -22.67% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -4.19% | +4.17% |
Average DrawdownAverage peak-to-trough decline | -0.76% | -6.57% | +5.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 2.04% | -1.41% |
Volatility
FTSL vs. PFFD - Volatility Comparison
The current volatility for First Trust Senior Loan Fund (FTSL) is 0.33%, while Global X U.S. Preferred ETF (PFFD) has a volatility of 1.99%. This indicates that FTSL 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.
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Volatility by Period
| FTSL | PFFD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.33% | 1.99% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 5.46% | -3.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.12% | 7.36% | -5.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.35% | 11.01% | -7.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.19% | 12.73% | -7.54% |
FTSL vs. PFFD - Expense Ratio Comparison
FTSL has a 0.86% expense ratio, which is higher than PFFD's 0.23% expense ratio.
Dividends
FTSL vs. PFFD - Dividend Comparison
FTSL's dividend yield for the trailing twelve months is around 6.46%, which matches PFFD's 6.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTSL First Trust Senior Loan Fund | 6.46% | 6.59% | 7.56% | 7.59% | 4.77% | 3.17% | 3.48% | 4.44% | 4.29% | 3.64% | 3.70% | 3.95% |
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% | 0.00% | 0.00% |
Frequently Asked Questions
FTSL and PFFD have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFFD has higher volatility (1.99%) compared to FTSL (0.33%). In terms of maximum drawdown, FTSL dropped -22.67% vs PFFD's -30.93%.
On 5-year performance, FTSL leads with 5.02% vs -0.48% for PFFD. On fees, PFFD is cheaper at 0.23% per year. On volatility, FTSL has been the lower-risk option at 0.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FTSL has performed better with a 5.02% return vs -0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFD is cheaper with a 0.23% expense ratio, compared with 0.86% for FTSL.
FTSL has the higher dividend yield at 6.46%, compared with 6.40% for PFFD.
FTSL is categorized as High Yield Bonds, while PFFD is Preferred Stock/Convertible Bonds. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.86% for FTSL and 0.23% for PFFD.
FTSL currently has the higher Sharpe Ratio (1.99 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.
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