PFF vs. PGX
Compare and contrast key facts about iShares Preferred and Income Securities ETF (PFF) and Invesco Preferred ETF (PGX).
PFF and PGX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PFF is a passively managed fund by iShares that tracks the performance of the S&P U.S. Preferred Stock Index. It was launched on Mar 30, 2007. PGX is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. It was launched on Jan 31, 2008. Both PFF and PGX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PFF or PGX.
Performance
PFF vs. PGX - Performance Comparison
Returns By Period
The year-to-date returns for both stocks are quite close, with PFF having a 10.17% return and PGX slightly lower at 9.80%. Both investments have delivered pretty close results over the past 10 years, with PFF having a 3.67% annualized return and PGX not far ahead at 3.68%.
PFF
10.17%
-1.37%
7.67%
16.15%
2.93%
3.67%
PGX
9.80%
-2.69%
8.11%
15.92%
1.28%
3.68%
Key characteristics
| PFF | PGX | |
|---|---|---|
| Sharpe Ratio | 1.93 | 1.61 |
| Sortino Ratio | 2.70 | 2.31 |
| Omega Ratio | 1.35 | 1.29 |
| Calmar Ratio | 1.00 | 0.82 |
| Martin Ratio | 10.37 | 7.43 |
| Ulcer Index | 1.50% | 2.04% |
| Daily Std Dev | 8.07% | 9.45% |
| Max Drawdown | -65.55% | -66.42% |
| Current Drawdown | -2.10% | -5.50% |
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PFF vs. PGX - Expense Ratio Comparison
PFF has a 0.46% expense ratio, which is lower than PGX's 0.52% expense ratio.
Correlation
The correlation between PFF and PGX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
PFF vs. PGX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Preferred and Income Securities ETF (PFF) and Invesco Preferred ETF (PGX). 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.
Dividends
PFF vs. PGX - Dividend Comparison
PFF's dividend yield for the trailing twelve months is around 6.16%, more than PGX's 5.87% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFF iShares Preferred and Income Securities ETF | 6.16% | 6.63% | 5.55% | 4.45% | 4.79% | 5.31% | 6.31% | 5.59% | 5.85% | 5.77% | 6.32% | 6.61% |
PGX Invesco Preferred ETF | 5.87% | 6.42% | 6.29% | 4.82% | 4.89% | 5.30% | 6.08% | 5.66% | 6.02% | 5.84% | 5.98% | 6.78% |
Drawdowns
PFF vs. PGX - Drawdown Comparison
The maximum PFF drawdown since its inception was -65.55%, roughly equal to the maximum PGX drawdown of -66.42%. Use the drawdown chart below to compare losses from any high point for PFF and PGX. For additional features, visit the drawdowns tool.
Volatility
PFF vs. PGX - Volatility Comparison
The current volatility for iShares Preferred and Income Securities ETF (PFF) is 2.57%, while Invesco Preferred ETF (PGX) has a volatility of 3.07%. This indicates that PFF experiences smaller price fluctuations and is considered to be less risky than PGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.