GQRE vs. PFFR

Last updated Jun 4, 2026

GQRE (FlexShares Global Quality Real Estate Index Fund) and PFFR (InfraCap REIT Preferred ETF) are both exchange-traded funds - GQRE is a REIT fund tracking the Northern Trust Global Quality Real Estate (NR), while PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index. Both are passively managed. Over the past 5 years, GQRE returned 1.99%/yr vs 0.97%/yr for PFFR. At a 0.42 correlation, their price movements are largely independent. Both charge a 0.45% expense ratio.

Performance

GQRE vs. PFFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares Global Quality Real Estate Index Fund (GQRE) and InfraCap REIT Preferred ETF (PFFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GQRE achieves a 7.34% return, which is significantly higher than PFFR's 0.80% return.

GQRE

• 1D: -0.36%
• 1M: -1.32%
• YTD: 7.34%
• 6M: 7.63%
• 1Y: 11.71%
• 3Y*: 10.30%
• 5Y*: 1.99%
• 10Y*: 3.78%

PFFR

• 1D: -0.22%
• 1M: -0.75%
• YTD: 0.80%
• 6M: 0.96%
• 1Y: 6.82%
• 3Y*: 9.27%
• 5Y*: 0.97%
• 10Y*: —

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

GQRE vs. PFFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GQRE FlexShares Global Quality Real Estate Index Fund	7.34%	8.27%	6.09%	9.21%	-27.22%	32.01%	-9.17%	21.84%	-8.88%	12.58%
PFFR InfraCap REIT Preferred ETF	0.80%	5.36%	7.12%	21.04%	-23.90%	6.76%	0.19%	20.28%	-7.45%	7.60%

Correlation

The correlation between GQRE and PFFR is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017	0.42

GQRE vs. PFFR - Sectors Allocation Comparison

Sectors	GQRE	PFFR
Real Estate	87.9%	84.9%
Financial Services	2.0%	5.3%
Consumer Cyclical	1.0%	-
Technology	0.8%	-
Healthcare	0.6%	-
Consumer Defensive	0.5%	-
Utilities	0.5%	-
Communication Services	0.5%	-
Industrials	0.2%	-
Basic Materials	0.0%	-
Energy	-	-

Return for Risk

GQRE vs. PFFR — Risk / Return Rank

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

GQRE

GQRE Risk / Return Rank: 27
GQRE Sharpe Ratio Rank: 28
GQRE Sortino Ratio Rank: 26
GQRE Omega Ratio Rank: 26
GQRE Calmar Ratio Rank: 25
GQRE Martin Ratio Rank: 30

PFFR

PFFR Risk / Return Rank: 23
PFFR Sharpe Ratio Rank: 24
PFFR Sortino Ratio Rank: 23
PFFR Omega Ratio Rank: 23
PFFR Calmar Ratio Rank: 23
PFFR Martin Ratio Rank: 20

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.

GQRE vs. PFFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares Global Quality Real Estate Index Fund (GQRE) and InfraCap REIT Preferred ETF (PFFR). 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.

	GQRE	PFFR	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.87	+0.14
Sortino ratio: Return per unit of downside risk	1.43	1.27	+0.16
Omega ratio: Gain probability vs. loss probability	1.18	1.16	+0.03
Calmar ratio: Return relative to maximum drawdown	1.16	1.04	+0.12
Martin ratio: Return relative to average drawdown	4.42	2.44	+1.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GQRE vs. PFFR - Sharpe Ratio Comparison

The current GQRE Sharpe Ratio is 1.01, which is comparable to the PFFR Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of GQRE and PFFR, 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

	GQRE	PFFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	0.87	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.09	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.16	+0.14

Drawdowns

GQRE vs. PFFR - Drawdown Comparison

The maximum GQRE drawdown since its inception was -41.87%, smaller than the maximum PFFR drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for GQRE and PFFR.

Drawdown Indicators

	GQRE	PFFR	Difference
Max Drawdown Largest peak-to-trough decline	-41.87%	-53.02%	+11.15%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-6.57%	-3.58%
Max Drawdown (3Y) Largest decline over 3 years	-16.17%	-11.16%	-5.01%
Max Drawdown (5Y) Largest decline over 5 years	-35.08%	-29.80%	-5.28%
Max Drawdown (10Y) Largest decline over 10 years	-41.87%	—	—
Current Drawdown Current decline from peak	-3.43%	-3.05%	-0.38%
Average Drawdown Average peak-to-trough decline	-9.24%	-7.00%	-2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	2.80%	-0.14%

Volatility

GQRE vs. PFFR - Volatility Comparison

FlexShares Global Quality Real Estate Index Fund (GQRE) has a higher volatility of 3.53% compared to InfraCap REIT Preferred ETF (PFFR) at 2.81%. This indicates that GQRE's price experiences larger fluctuations and is considered to be riskier than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GQRE	PFFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	2.81%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	6.14%	+2.63%
Volatility (1Y) Calculated over the trailing 1-year period	11.64%	7.91%	+3.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	10.47%	+5.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	20.54%	-2.88%

GQRE vs. PFFR - Expense Ratio Comparison

Both GQRE and PFFR have an expense ratio of 0.45%.

Dividends

GQRE vs. PFFR - Dividend Comparison

GQRE's dividend yield for the trailing twelve months is around 4.36%, less than PFFR's 8.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GQRE FlexShares Global Quality Real Estate Index Fund	4.36%	4.75%	3.77%	2.91%	2.56%	2.36%	2.05%	4.29%	3.22%	1.97%	4.16%	2.32%
PFFR InfraCap REIT Preferred ETF	8.29%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GQRE and PFFR in my portfolio?

GQRE and PFFR have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GQRE or PFFR?

GQRE has higher volatility (3.53%) compared to PFFR (2.81%). In terms of maximum drawdown, GQRE dropped -41.87% vs PFFR's -53.02%.

Which ETF is better, GQRE or PFFR?

On 5-year performance, GQRE leads with 1.99% vs 0.97% for PFFR. Both ETFs have the same 0.45% expense ratio. On volatility, PFFR has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GQRE or PFFR?

Over the 5-year period, GQRE has performed better with a 1.99% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GQRE or PFFR?

GQRE and PFFR have the same expense ratio: 0.45% per year.

Which ETF pays a higher dividend yield, GQRE or PFFR?

PFFR has the higher dividend yield at 8.29%, compared with 4.36% for GQRE.

What is the main difference between GQRE and PFFR?

GQRE is categorized as REIT, while PFFR is Preferred Stock/Convertible Bonds. GQRE tracks Northern Trust Global Quality Real Estate (NR), while PFFR tracks Indxx REIT Preferred Stock Index. They also come from different issuers: Northern Trust and Virtus Investment Partners.

Which has better risk-adjusted returns?

GQRE currently has the higher Sharpe Ratio (1.01 vs 0.87), 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.