NPFI vs. PFF
NPFI (Nuveen Preferred And Income ETF) and PFF (iShares Preferred and Income Securities ETF) are both Preferred Stock/Convertible Bonds funds. NPFI is actively managed, while PFF is passively managed. Over the past year, NPFI returned 7.29% vs 7.50% for PFF. A 0.59 correlation means they provide meaningful diversification when combined. NPFI charges 0.55%/yr vs 0.46%/yr for PFF.
Performance
NPFI vs. PFF - Performance Comparison
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Returns By Period
In the year-to-date period, NPFI achieves a 1.79% return, which is significantly higher than PFF's 1.64% return.
NPFI
- 1D
- 0.00%
- 1M
- 0.57%
- YTD
- 1.79%
- 6M
- 1.93%
- 1Y
- 7.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFF
- 1D
- -1.25%
- 1M
- -0.85%
- YTD
- 1.64%
- 6M
- 1.02%
- 1Y
- 7.50%
- 3Y*
- 6.76%
- 5Y*
- 1.08%
- 10Y*
- 3.23%
NPFI vs. PFF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NPFI Nuveen Preferred And Income ETF | 1.79% | 9.21% | 6.37% |
PFF iShares Preferred and Income Securities ETF | 1.64% | 4.87% | 3.53% |
Correlation
The correlation between NPFI and PFF is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024 | 0.59 |
The correlation between NPFI and PFF has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.
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Return for Risk
NPFI vs. PFF — Risk / Return Rank
NPFI
PFF
NPFI vs. PFF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen Preferred And Income ETF (NPFI) and iShares Preferred and Income Securities ETF (PFF). 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.
| NPFI | PFF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.18 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 1.43 | +0.87 |
| Martin ratioReturn relative to average drawdown | 11.08 | 4.32 | +6.76 |
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Drawdowns
NPFI vs. PFF - Drawdown Comparison
The maximum NPFI drawdown since its inception was -3.18%, smaller than the maximum PFF drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for NPFI and PFF.
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Drawdown Indicators
| NPFI | PFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.18% | -65.55% | +62.37% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -5.28% | +2.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -10.63% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.05% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.10% | — |
Current DrawdownCurrent decline from peak | -0.08% | -2.35% | +2.27% |
Average DrawdownAverage peak-to-trough decline | -0.33% | -5.75% | +5.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 1.74% | -1.08% |
Volatility
NPFI vs. PFF - Volatility Comparison
The current volatility for Nuveen Preferred And Income ETF (NPFI) is 0.64%, while iShares Preferred and Income Securities ETF (PFF) has a volatility of 2.42%. This indicates that NPFI experiences smaller price fluctuations and is considered to be less risky than PFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NPFI | PFF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 2.42% | -1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 2.56% | 5.43% | -2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.95% | 7.04% | -4.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.94% | 10.35% | -7.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.94% | 12.68% | -9.74% |
NPFI vs. PFF - Expense Ratio Comparison
NPFI has a 0.55% expense ratio, which is higher than PFF's 0.46% expense ratio.
Dividends
NPFI vs. PFF - Dividend Comparison
NPFI's dividend yield for the trailing twelve months is around 6.40%, more than PFF's 5.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NPFI Nuveen Preferred And Income ETF | 6.40% | 6.33% | 5.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFF iShares Preferred and Income Securities ETF | 5.54% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
Frequently Asked Questions
NPFI and PFF have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFF has higher volatility (2.42%) compared to NPFI (0.64%). In terms of maximum drawdown, NPFI dropped -3.18% vs PFF's -65.55%.
On 1-year performance, PFF leads with 7.50% vs 7.29% for NPFI. On fees, PFF is cheaper at 0.46% per year. On volatility, NPFI has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, PFF has performed better with a 7.50% return vs 7.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFF is cheaper with a 0.46% expense ratio, compared with 0.55% for NPFI.
NPFI has the higher dividend yield at 6.40%, compared with 5.54% for PFF.
They also come from different issuers: Nuveen and iShares. Their fees differ too: 0.55% for NPFI and 0.46% for PFF.
NPFI currently has the higher Sharpe Ratio (2.48 vs 1.07), 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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