PFF vs. PSK
PFF (iShares Preferred and Income Securities ETF) and PSK (SPDR ICE Preferred Securities ETF) are both Preferred Stock funds - PFF tracks the ICE Exchange-Listed Preferred & Hybrid Securities Index while PSK tracks the PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index. Both are passively managed. Over the past 10 years, PFF returned 2.93%/yr vs 1.86%/yr for PSK. Their correlation of 0.83 means they have usually moved in the same direction. PFF charges 0.46%/yr vs 0.45%/yr for PSK.
Performance
PFF vs. PSK - Performance Comparison
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Returns By Period
In the year-to-date period, PFF achieves a 0.89% return, which is significantly higher than PSK's -1.10% return. Over the past 10 years, PFF has outperformed PSK with an annualized return of 2.93%, while PSK has yielded a comparatively lower 1.86% annualized return.
PFF
- 1D
- 0.10%
- 1M
- -0.03%
- 6M
- -1.43%
- YTD
- 0.89%
- 1Y
- 3.06%
- 3Y*
- 5.64%
- 5Y*
- 0.71%
- 10Y*
- 2.93%
- ALL TIME*
- 3.72%
PSK
- 1D
- 0.10%
- 1M
- -0.82%
- 6M
- -2.99%
- YTD
- -1.10%
- 1Y
- -0.14%
- 3Y*
- 3.27%
- 5Y*
- -1.17%
- 10Y*
- 1.86%
- ALL TIME*
- 4.49%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $85.47M | $81.60M | $92.33M | |
| $3.42M | $3.24M | $2.65M |
PFF vs. PSK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFF iShares Preferred and Income Securities ETF | 0.89% | 4.87% | 7.24% | 9.22% | -18.19% | 7.15% | 7.89% | 15.93% | -4.64% | 8.10% |
PSK SPDR ICE Preferred Securities ETF | -1.10% | 2.69% | 4.81% | 8.91% | -18.86% | 1.57% | 6.37% | 17.59% | -4.54% | 12.44% |
Correlation
The correlation between PFF and PSK is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2009 | 0.83 |
The correlation between PFF and PSK shifts across timeframes, from 0.81 (1 year) to 0.92 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PFF vs. PSK — Risk / Return Rank
PFF
PSK
PFF vs. PSK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Preferred and Income Securities ETF (PFF) 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.
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.
| PFF | PSK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.01 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 0.04 | +0.51 |
| Martin ratioReturn relative to average drawdown | 1.42 | 0.08 | +1.34 |
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Drawdowns
PFF vs. PSK - Drawdown Comparison
The maximum PFF drawdown since its inception was -65.55%, which is greater than PSK's maximum drawdown of -30.10%. Use the drawdown chart below to compare losses from any high point for PFF and PSK.
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Drawdown Indicators
| PFF | PSK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.55% | -30.10% | -35.45% |
Max Drawdown (1Y)Largest decline over 1 year | -5.28% | -5.50% | +0.22% |
Max Drawdown (3Y)Largest decline over 3 years | -10.63% | -10.30% | -0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -21.05% | -22.23% | +1.18% |
Max Drawdown (10Y)Largest decline over 10 years | -34.10% | -30.10% | -4.00% |
Current DrawdownCurrent decline from peak | -3.07% | -6.47% | +3.40% |
Average DrawdownAverage peak-to-trough decline | -5.74% | -4.00% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 3.05% | -1.00% |
Volatility
PFF vs. PSK - Volatility Comparison
iShares Preferred and Income Securities ETF (PFF) has a higher volatility of 2.60% compared to SPDR ICE Preferred Securities ETF (PSK) at 1.35%. This indicates that PFF's price experiences larger fluctuations and is considered to be riskier than PSK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFF | PSK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.60% | 1.35% | +1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 5.87% | 4.28% | +1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.31% | 5.90% | +1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.40% | 10.75% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.70% | 11.88% | +0.82% |
PFF vs. PSK - Expense Ratio Comparison
PFF has a 0.46% expense ratio, which is higher than PSK's 0.45% expense ratio.
Dividends
PFF vs. PSK - Dividend Comparison
PFF's dividend yield for the trailing twelve months is around 5.50%, less than PSK's 7.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFF iShares Preferred and Income Securities ETF | 4.97% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
PSK SPDR ICE Preferred Securities ETF | 6.54% | 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
PFF and PSK have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFF has higher volatility (2.60%) compared to PSK (1.35%). In terms of maximum drawdown, PFF dropped -65.55% vs PSK's -30.10%.
On 10-year performance, PFF leads with 2.93% vs 1.86% for PSK. On fees, PSK is cheaper at 0.45% per year. On volatility, PSK has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PFF has performed better with a 2.93% return vs 1.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSK is cheaper with a 0.45% expense ratio, compared with 0.46% for PFF.
PSK has the higher dividend yield at 6.54%, compared with 4.97% for PFF.
PFF tracks ICE Exchange-Listed Preferred & Hybrid Securities Index, while PSK tracks PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.46% for PFF and 0.45% for PSK.
PFF currently has the higher Sharpe Ratio (0.40 vs 0.04), 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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