NPFI vs. PRFD

Last updated Aug 2, 2026

NPFI (Nuveen Preferred And Income ETF) and PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) are both Preferred Stock funds. Both are actively managed. Over the past year, NPFI returned 5.72% vs 4.77% for PRFD. Their 0.54 correlation means they have sometimes moved together and sometimes differently. NPFI charges 0.55%/yr vs 0.74%/yr for PRFD.

Performance

NPFI vs. PRFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Preferred And Income ETF (NPFI) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NPFI achieves a 1.83% return, which is significantly higher than PRFD's 1.05% return.

NPFI

• 1D: 0.12%
• 1M: -0.48%
• 6M: 1.20%
• YTD: 1.83%
• 1Y: 5.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.25%

PRFD

• 1D: 0.00%
• 1M: -1.01%
• 6M: 0.27%
• YTD: 1.05%
• 1Y: 4.77%
• 3Y*: 8.07%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.95%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NPFI Nuveen Preferred And Income ETF	$434.98K	$466.60K	$460.13K
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	$2.97M	$1.65M	$1.08M

NPFI vs. PRFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NPFI Nuveen Preferred And Income ETF	1.83%	9.21%	6.37%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	1.05%	8.45%	7.96%

Correlation

The correlation between NPFI and PRFD is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	0.54

The correlation between NPFI and PRFD has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

Return for Risk

NPFI vs. PRFD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

NPFI

NPFI Risk / Return Rank: 76
NPFI Sharpe Ratio Rank: 84
NPFI Sortino Ratio Rank: 87
NPFI Omega Ratio Rank: 91
NPFI Calmar Ratio Rank: 51
NPFI Martin Ratio Rank: 70

PRFD

PRFD Risk / Return Rank: 59
PRFD Sharpe Ratio Rank: 67
PRFD Sortino Ratio Rank: 64
PRFD Omega Ratio Rank: 70
PRFD Calmar Ratio Rank: 42
PRFD Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

NPFI vs. PRFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Preferred And Income ETF (NPFI) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). 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	PRFD	Difference
Sharpe ratio: Return per unit of total volatility	1.97	1.54	+0.43
Sortino ratio: Return per unit of downside risk	2.94	2.12	+0.82
Omega ratio: Gain probability vs. loss probability	1.43	1.29	+0.14
Calmar ratio: Return relative to maximum drawdown	1.81	1.51	+0.31
Martin ratio: Return relative to average drawdown	8.58	5.98	+2.60

NPFI vs. PRFD - Sharpe Ratio Comparison

The current NPFI Sharpe Ratio is 1.97, which is comparable to the PRFD Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of NPFI and PRFD, 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. PRFD - Drawdown Comparison

The maximum NPFI drawdown since its inception was -3.18%, smaller than the maximum PRFD drawdown of -11.93%. Use the drawdown chart below to compare losses from any high point for NPFI and PRFD.

Drawdown Indicators

	NPFI	PRFD	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-11.93%	+8.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.18%	-3.28%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.59%	—
Current Drawdown Current decline from peak	-0.65%	-1.21%	+0.56%
Average Drawdown Average peak-to-trough decline	-0.33%	-2.15%	+1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.83%	-0.16%

Volatility

NPFI vs. PRFD - Volatility Comparison

The current volatility for Nuveen Preferred And Income ETF (NPFI) is 0.67%, while PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) has a volatility of 0.80%. This indicates that NPFI experiences smaller price fluctuations and is considered to be less risky than PRFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NPFI	PRFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.80%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	2.64%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	2.93%	3.22%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.91%	4.80%	-1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.91%	4.80%	-1.89%

NPFI vs. PRFD - Expense Ratio Comparison

NPFI has a 0.55% expense ratio, which is lower than PRFD's 0.74% expense ratio.

Dividends

NPFI vs. PRFD - Dividend Comparison

NPFI's dividend yield for the trailing twelve months is around 6.48%, more than PRFD's 5.84% yield.

Position	TTM	2025	2024	2023
NPFI Nuveen Preferred And Income ETF	5.93%	6.33%	5.10%	0.00%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.36%	5.63%	5.53%	5.04%

Frequently Asked Questions

Can I hold both NPFI and PRFD in my portfolio?

NPFI and PRFD have a correlation of 0.57, 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 PRFD?

PRFD has higher volatility (0.80%) compared to NPFI (0.67%). In terms of maximum drawdown, NPFI dropped -3.18% vs PRFD's -11.93%.

Which ETF is better, NPFI or PRFD?

On 1-year performance, NPFI leads with 5.72% vs 4.77% for PRFD. On fees, NPFI is cheaper at 0.55% per year. On volatility, NPFI has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NPFI or PRFD?

Over the 1-year period, NPFI has performed better with a 5.72% return vs 4.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NPFI or PRFD?

NPFI is cheaper with a 0.55% expense ratio, compared with 0.74% for PRFD.

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

NPFI has the higher dividend yield at 5.93%, compared with 5.36% for PRFD.

What is the main difference between NPFI and PRFD?

They also come from different issuers: Nuveen and PIMCO. Their fees differ too: 0.55% for NPFI and 0.74% for PRFD.

Which has better risk-adjusted returns?

NPFI currently has the higher Sharpe Ratio (1.97 vs 1.54), 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.