IPPP vs. PFFL

Last updated Jun 4, 2026

IPPP (Preferred-Plus ETF) and PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) are both Preferred Stock/Convertible Bonds funds. IPPP is actively managed, while PFFL is passively managed. IPPP charges 1.27%/yr vs 0.85%/yr for PFFL.

Performance

IPPP vs. PFFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Preferred-Plus ETF (IPPP) and ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IPPP

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFFL

• 1D: -0.99%
• 1M: -1.06%
• YTD: 0.10%
• 6M: 0.21%
• 1Y: 8.48%
• 3Y*: 3.14%
• 5Y*: -5.89%
• 10Y*: —

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

IPPP vs. PFFL - Yearly Performance Comparison

	2026 (YTD)
IPPP Preferred-Plus ETF	0.00%
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN	-3.00%

Return for Risk

IPPP vs. PFFL — Risk / Return Rank

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

PFFL

PFFL Risk / Return Rank: 17
PFFL Sharpe Ratio Rank: 17
PFFL Sortino Ratio Rank: 16
PFFL Omega Ratio Rank: 17
PFFL Calmar Ratio Rank: 18
PFFL Martin Ratio Rank: 17

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.

IPPP vs. PFFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Preferred-Plus ETF (IPPP) and ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IPPP	PFFL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.50	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.25	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	-0.07	—

Drawdowns

IPPP vs. PFFL - Drawdown Comparison

The maximum IPPP drawdown since its inception was 0.00%, smaller than the maximum PFFL drawdown of -80.68%. Use the drawdown chart below to compare losses from any high point for IPPP and PFFL.

Drawdown Indicators

	IPPP	PFFL	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-80.68%	+80.68%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.92%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.75%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-48.51%	—
Current Drawdown Current decline from peak	0.00%	-38.34%	+38.34%
Average Drawdown Average peak-to-trough decline	0.00%	-28.54%	+28.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.84%	—

Volatility

Volatility by Period

	IPPP	PFFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	16.91%	-16.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	23.62%	-23.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	55.35%	-55.35%

IPPP vs. PFFL - Expense Ratio Comparison

IPPP has a 1.27% expense ratio, which is higher than PFFL's 0.85% expense ratio.

Dividends

IPPP vs. PFFL - Dividend Comparison

IPPP has not paid dividends to shareholders, while PFFL's dividend yield for the trailing twelve months is around 12.44%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN	12.44%	13.27%	13.76%	13.71%	13.90%	8.82%	9.75%	11.21%	2.02%

Frequently Asked Questions

Which ETF is better, IPPP or PFFL?

On fees, PFFL is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IPPP or PFFL?

PFFL is cheaper with a 0.85% expense ratio, compared with 1.27% for IPPP.

Which ETF pays a higher dividend yield, IPPP or PFFL?

PFFL has the higher dividend yield at 12.44%, compared with 0.00% for IPPP.

What is the main difference between IPPP and PFFL?

They also come from different issuers: Innovative Portfolios and UBS. Their fees differ too: 1.27% for IPPP and 0.85% for PFFL.