IPPP vs. PREF

Last updated Jun 4, 2026

IPPP (Preferred-Plus ETF) and PREF (Principal Spectrum Preferred Secs Active ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. IPPP charges 1.27%/yr vs 0.55%/yr for PREF.

Performance

IPPP vs. PREF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Preferred-Plus ETF (IPPP) and Principal Spectrum Preferred Secs Active ETF (PREF). 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*: —

PREF

• 1D: -0.13%
• 1M: 0.52%
• YTD: 1.65%
• 6M: 2.32%
• 1Y: 6.65%
• 3Y*: 9.25%
• 5Y*: 3.07%
• 10Y*: —

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

IPPP vs. PREF - Yearly Performance Comparison

	2026 (YTD)
IPPP Preferred-Plus ETF	0.00%
PREF Principal Spectrum Preferred Secs Active ETF	1.12%

IPPP vs. PREF - Sectors Allocation Comparison

Sectors	IPPP	PREF
Utilities	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

IPPP vs. PREF — Risk / Return Rank

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

PREF

PREF Risk / Return Rank: 64
PREF Sharpe Ratio Rank: 64
PREF Sortino Ratio Rank: 67
PREF Omega Ratio Rank: 75
PREF Calmar Ratio Rank: 46
PREF Martin Ratio Rank: 66

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. PREF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Preferred-Plus ETF (IPPP) and Principal Spectrum Preferred Secs Active ETF (PREF). 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	PREF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.16	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.66	—

Drawdowns

IPPP vs. PREF - Drawdown Comparison

The maximum IPPP drawdown since its inception was 0.00%, smaller than the maximum PREF drawdown of -22.99%. Use the drawdown chart below to compare losses from any high point for IPPP and PREF.

Drawdown Indicators

	IPPP	PREF	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-22.99%	+22.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.88%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.99%	—
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	0.00%	-3.66%	+3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.55%	—

Volatility

Volatility by Period

	IPPP	PREF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.51%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	3.09%	-3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	4.87%	-4.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	6.30%	-6.30%

IPPP vs. PREF - Expense Ratio Comparison

IPPP has a 1.27% expense ratio, which is higher than PREF's 0.55% expense ratio.

Dividends

IPPP vs. PREF - Dividend Comparison

IPPP has not paid dividends to shareholders, while PREF's dividend yield for the trailing twelve months is around 5.16%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PREF Principal Spectrum Preferred Secs Active ETF	5.16%	4.87%	4.65%	4.67%	4.63%	4.07%	4.35%	4.67%	5.49%	2.35%

Frequently Asked Questions

Which ETF is better, IPPP or PREF?

On fees, PREF is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IPPP or PREF?

PREF is cheaper with a 0.55% expense ratio, compared with 1.27% for IPPP.

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

PREF has the higher dividend yield at 5.16%, compared with 0.00% for IPPP.

What is the main difference between IPPP and PREF?

They also come from different issuers: Innovative Portfolios and Principal. Their fees differ too: 1.27% for IPPP and 0.55% for PREF.