NPFI vs. PIT

Last updated Jun 24, 2026

NPFI (Nuveen Preferred And Income ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - NPFI is a Preferred Stock/Convertible Bonds fund actively managed by Nuveen, while PIT is a Commodities fund actively managed by VanEck. Both are actively managed. Over the past year, NPFI returned 7.11% vs 39.64% for PIT. At a correlation of -0.00, they often move in opposite directions. Both charge a 0.55% expense ratio.

Performance

NPFI vs. PIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Preferred And Income ETF (NPFI) and VanEck Commodity Strategy ETF (PIT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NPFI achieves a 1.84% return, which is significantly lower than PIT's 25.62% return.

NPFI

• 1D: 0.04%
• 1M: 0.61%
• YTD: 1.84%
• 6M: 2.00%
• 1Y: 7.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIT

• 1D: -1.32%
• 1M: -11.78%
• YTD: 25.62%
• 6M: 23.58%
• 1Y: 39.64%
• 3Y*: 18.98%
• 5Y*: —
• 10Y*: —

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

NPFI vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NPFI Nuveen Preferred And Income ETF	1.84%	9.21%	6.37%
PIT VanEck Commodity Strategy ETF	25.62%	21.63%	4.23%

Correlation

The correlation between NPFI and PIT is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	-0.00

The correlation between NPFI and PIT shifts across timeframes, from -0.15 (1 year) to -0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NPFI vs. PIT — Risk / Return Rank

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

NPFI

NPFI Risk / Return Rank: 74
NPFI Sharpe Ratio Rank: 81
NPFI Sortino Ratio Rank: 88
NPFI Omega Ratio Rank: 91
NPFI Calmar Ratio Rank: 48
NPFI Martin Ratio Rank: 64

PIT

PIT Risk / Return Rank: 57
PIT Sharpe Ratio Rank: 59
PIT Sortino Ratio Rank: 52
PIT Omega Ratio Rank: 56
PIT Calmar Ratio Rank: 56
PIT Martin Ratio Rank: 63

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.

NPFI vs. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Preferred And Income ETF (NPFI) and VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.85	+0.58
Sortino ratio: Return per unit of downside risk	3.72	2.40	+1.33
Omega ratio: Gain probability vs. loss probability	1.55	1.33	+0.22
Calmar ratio: Return relative to maximum drawdown	2.25	2.62	-0.38
Martin ratio: Return relative to average drawdown	10.81	10.88	-0.08

NPFI vs. PIT - Sharpe Ratio Comparison

The current NPFI Sharpe Ratio is 2.43, which is higher than the PIT Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of NPFI and PIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NPFI vs. PIT - Drawdown Comparison

The maximum NPFI drawdown since its inception was -3.18%, smaller than the maximum PIT drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for NPFI and PIT.

Drawdown Indicators

	NPFI	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-15.19%	+12.01%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-15.19%	+12.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.19%	—
Current Drawdown Current decline from peak	-0.03%	-15.19%	+15.16%
Average Drawdown Average peak-to-trough decline	-0.33%	-4.08%	+3.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	3.66%	-3.00%

Volatility

NPFI vs. PIT - Volatility Comparison

The current volatility for Nuveen Preferred And Income ETF (NPFI) is 0.64%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.72%. This indicates that NPFI experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NPFI	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	4.72%	-4.08%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	19.40%	-16.84%
Volatility (1Y) Calculated over the trailing 1-year period	2.95%	21.66%	-18.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.94%	17.50%	-14.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.94%	17.50%	-14.56%

NPFI vs. PIT - Expense Ratio Comparison

Both NPFI and PIT have an expense ratio of 0.55%.

Dividends

NPFI vs. PIT - Dividend Comparison

NPFI's dividend yield for the trailing twelve months is around 6.39%, less than PIT's 7.10% yield.

Position	TTM	2025	2024	2023
NPFI Nuveen Preferred And Income ETF	6.39%	6.33%	5.10%	0.00%
PIT VanEck Commodity Strategy ETF	7.10%	8.92%	3.59%	6.44%

Frequently Asked Questions

Can I hold both NPFI and PIT in my portfolio?

NPFI and PIT have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NPFI or PIT?

PIT has higher volatility (4.72%) compared to NPFI (0.64%). In terms of maximum drawdown, NPFI dropped -3.18% vs PIT's -15.19%.

Which ETF is better, NPFI or PIT?

On 1-year performance, PIT leads with 39.64% vs 7.11% for NPFI. Both ETFs have the same 0.55% expense ratio. 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.

Which ETF has performed better, NPFI or PIT?

Over the 1-year period, PIT has performed better with a 39.64% return vs 7.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NPFI or PIT?

NPFI and PIT have the same expense ratio: 0.55% per year.

Which ETF pays a higher dividend yield, NPFI or PIT?

PIT has the higher dividend yield at 7.10%, compared with 6.39% for NPFI.

What is the main difference between NPFI and PIT?

NPFI is categorized as Preferred Stock/Convertible Bonds, while PIT is Commodities. They also come from different issuers: Nuveen and VanEck.

Which has better risk-adjusted returns?

NPFI currently has the higher Sharpe Ratio (2.43 vs 1.85), 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.