IPPP vs. PSK

Last updated Jun 4, 2026

IPPP (Preferred-Plus ETF) and PSK (SPDR ICE Preferred Securities ETF) are both Preferred Stock/Convertible Bonds funds. IPPP is actively managed, while PSK is passively managed. IPPP charges 1.27%/yr vs 0.45%/yr for PSK.

Performance

IPPP vs. PSK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Preferred-Plus ETF (IPPP) and SPDR ICE Preferred Securities ETF (PSK). 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*: —

PSK

• 1D: -0.26%
• 1M: -1.12%
• YTD: -0.35%
• 6M: -0.54%
• 1Y: 4.55%
• 3Y*: 3.10%
• 5Y*: -0.88%
• 10Y*: 2.10%

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

IPPP vs. PSK - Yearly Performance Comparison

	2026 (YTD)
IPPP Preferred-Plus ETF	0.00%
PSK SPDR ICE Preferred Securities ETF	-2.08%

IPPP vs. PSK - Sectors Allocation Comparison

Sectors	IPPP	PSK
Utilities	100.0%	9.5%
Basic Materials	-	-
Communication Services	-	1.6%
Consumer Cyclical	-	1.8%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	66.9%
Healthcare	-	-
Industrials	-	0.8%
Real Estate	-	4.8%
Technology	-	-

Return for Risk

IPPP vs. PSK — Risk / Return Rank

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

PSK

PSK Risk / Return Rank: 20
PSK Sharpe Ratio Rank: 22
PSK Sortino Ratio Rank: 21
PSK Omega Ratio Rank: 20
PSK Calmar Ratio Rank: 20
PSK Martin Ratio Rank: 18

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. PSK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Preferred-Plus ETF (IPPP) and SPDR ICE Preferred Securities ETF (PSK). 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	PSK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.75	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.08	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.44	—

Drawdowns

IPPP vs. PSK - Drawdown Comparison

The maximum IPPP drawdown since its inception was 0.00%, smaller than the maximum PSK drawdown of -30.10%. Use the drawdown chart below to compare losses from any high point for IPPP and PSK.

Drawdown Indicators

	IPPP	PSK	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-30.10%	+30.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.50%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.10%	—
Current Drawdown Current decline from peak	0.00%	-5.76%	+5.76%
Average Drawdown Average peak-to-trough decline	0.00%	-3.98%	+3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.49%	—

Volatility

Volatility by Period

	IPPP	PSK	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.65%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	6.05%	-6.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	10.72%	-10.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	11.91%	-11.91%

IPPP vs. PSK - Expense Ratio Comparison

IPPP has a 1.27% expense ratio, which is higher than PSK's 0.45% expense ratio.

Dividends

IPPP vs. PSK - Dividend Comparison

IPPP has not paid dividends to shareholders, while PSK's dividend yield for the trailing twelve months is around 7.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSK SPDR ICE Preferred Securities ETF	7.04%	6.82%	6.55%	6.44%	6.55%	5.03%	5.08%	5.44%	6.47%	6.91%	5.92%	5.35%

Frequently Asked Questions

Which ETF is better, IPPP or PSK?

On fees, PSK is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IPPP or PSK?

PSK is cheaper with a 0.45% expense ratio, compared with 1.27% for IPPP.

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

PSK has the higher dividend yield at 7.04%, compared with 0.00% for IPPP.

What is the main difference between IPPP and PSK?

They also come from different issuers: Innovative Portfolios and State Street. Their fees differ too: 1.27% for IPPP and 0.45% for PSK.