PFF vs. SPFF

Last updated Jun 4, 2026

PFF (iShares Preferred and Income Securities ETF) and SPFF (Global X SuperIncome Preferred ETF) are both Preferred Stock/Convertible Bonds funds - PFF tracks the S&P U.S. Preferred Stock Index while SPFF tracks the S&P Enhanced Yield North American Preferred Stock Index. Both are passively managed. Over the past 10 years, PFF returned 3.30%/yr vs 3.13%/yr for SPFF. A 0.76 correlation means they provide meaningful diversification when combined. PFF charges 0.46%/yr vs 0.58%/yr for SPFF.

Performance

PFF vs. SPFF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Preferred and Income Securities ETF (PFF) and Global X SuperIncome Preferred ETF (SPFF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFF achieves a 2.93% return, which is significantly lower than SPFF's 6.91% return. Over the past 10 years, PFF has outperformed SPFF with an annualized return of 3.30%, while SPFF has yielded a comparatively lower 3.13% annualized return.

PFF

• 1D: -0.67%
• 1M: 0.34%
• YTD: 2.93%
• 6M: 3.41%
• 1Y: 9.35%
• 3Y*: 6.70%
• 5Y*: 1.50%
• 10Y*: 3.30%

SPFF

• 1D: -0.20%
• 1M: 3.90%
• YTD: 6.91%
• 6M: 8.28%
• 1Y: 18.49%
• 3Y*: 8.98%
• 5Y*: 2.16%
• 10Y*: 3.13%

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

PFF vs. SPFF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFF iShares Preferred and Income Securities ETF	2.93%	4.87%	7.24%	9.22%	-18.19%	7.15%	7.89%	15.93%	-4.64%	8.10%
SPFF Global X SuperIncome Preferred ETF	6.91%	7.52%	8.62%	3.00%	-14.29%	5.15%	6.91%	13.04%	-2.55%	1.80%

Correlation

The correlation between PFF and SPFF is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jul 20, 2012	0.76

The correlation between PFF and SPFF shifts across timeframes, from 0.76 (all time) to 0.87 (3 years), reflecting how their relationship changes across market environments.

PFF vs. SPFF - Sectors Allocation Comparison

Sectors	PFF	SPFF
Financial Services	52.3%	54.4%
Real Estate	10.7%	2.1%
Utilities	8.9%	14.2%
Industrials	5.5%	1.8%
Technology	4.4%	18.3%
Communication Services	3.5%	2.0%
Basic Materials	1.6%	2.6%
Consumer Cyclical	1.3%	3.0%
Healthcare	1.3%	3.2%
Consumer Defensive	1.2%	-
Energy	0.4%	-

Return for Risk

PFF vs. SPFF — Risk / Return Rank

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

PFF

PFF Risk / Return Rank: 36
PFF Sharpe Ratio Rank: 38
PFF Sortino Ratio Rank: 38
PFF Omega Ratio Rank: 35
PFF Calmar Ratio Rank: 35
PFF Martin Ratio Rank: 35

SPFF

SPFF Risk / Return Rank: 53
SPFF Sharpe Ratio Rank: 57
SPFF Sortino Ratio Rank: 58
SPFF Omega Ratio Rank: 54
SPFF Calmar Ratio Rank: 49
SPFF Martin Ratio Rank: 45

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.

PFF vs. SPFF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Preferred and Income Securities ETF (PFF) and Global X SuperIncome Preferred ETF (SPFF). 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.

	PFF	SPFF	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.96	-0.56
Sortino ratio: Return per unit of downside risk	2.01	2.79	-0.78
Omega ratio: Gain probability vs. loss probability	1.24	1.34	-0.10
Calmar ratio: Return relative to maximum drawdown	1.78	2.45	-0.67
Martin ratio: Return relative to average drawdown	5.51	7.46	-1.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFF vs. SPFF - Sharpe Ratio Comparison

The current PFF Sharpe Ratio is 1.39, which is comparable to the SPFF Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of PFF and SPFF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PFF	SPFF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	1.96	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.20	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.26	0.23	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.30	-0.09

Drawdowns

PFF vs. SPFF - Drawdown Comparison

The maximum PFF drawdown since its inception was -65.55%, which is greater than SPFF's maximum drawdown of -35.92%. Use the drawdown chart below to compare losses from any high point for PFF and SPFF.

Drawdown Indicators

	PFF	SPFF	Difference
Max Drawdown Largest peak-to-trough decline	-65.55%	-35.92%	-29.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.28%	-7.58%	+2.30%
Max Drawdown (3Y) Largest decline over 3 years	-10.63%	-12.51%	+1.88%
Max Drawdown (5Y) Largest decline over 5 years	-21.05%	-22.88%	+1.83%
Max Drawdown (10Y) Largest decline over 10 years	-34.10%	-35.92%	+1.82%
Current Drawdown Current decline from peak	-1.11%	-0.20%	-0.91%
Average Drawdown Average peak-to-trough decline	-5.77%	-4.06%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	2.49%	-0.79%

Volatility

PFF vs. SPFF - Volatility Comparison

The current volatility for iShares Preferred and Income Securities ETF (PFF) is 2.09%, while Global X SuperIncome Preferred ETF (SPFF) has a volatility of 2.97%. This indicates that PFF experiences smaller price fluctuations and is considered to be less risky than SPFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFF	SPFF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	2.97%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	5.09%	7.29%	-2.20%
Volatility (1Y) Calculated over the trailing 1-year period	6.75%	9.53%	-2.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.30%	10.93%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.66%	13.51%	-0.85%

PFF vs. SPFF - Expense Ratio Comparison

PFF has a 0.46% expense ratio, which is lower than SPFF's 0.58% expense ratio.

Dividends

PFF vs. SPFF - Dividend Comparison

PFF's dividend yield for the trailing twelve months is around 5.47%, less than SPFF's 6.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFF iShares Preferred and Income Securities ETF	5.47%	6.30%	6.32%	6.63%	6.01%	4.45%	4.79%	5.31%	6.32%	5.59%	5.85%	5.76%
SPFF Global X SuperIncome Preferred ETF	6.34%	6.47%	6.39%	6.64%	7.15%	5.78%	5.75%	5.97%	7.60%	7.24%	7.04%	7.50%

Frequently Asked Questions

Can I hold both PFF and SPFF in my portfolio?

PFF and SPFF have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFF or SPFF?

SPFF has higher volatility (2.97%) compared to PFF (2.09%). In terms of maximum drawdown, PFF dropped -65.55% vs SPFF's -35.92%.

Which ETF is better, PFF or SPFF?

On 10-year performance, PFF leads with 3.30% vs 3.13% for SPFF. On fees, PFF is cheaper at 0.46% per year. On volatility, PFF has been the lower-risk option at 2.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFF or SPFF?

Over the 10-year period, PFF has performed better with a 3.30% return vs 3.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFF or SPFF?

PFF is cheaper with a 0.46% expense ratio, compared with 0.58% for SPFF.

Which ETF pays a higher dividend yield, PFF or SPFF?

SPFF has the higher dividend yield at 6.34%, compared with 5.47% for PFF.

What is the main difference between PFF and SPFF?

PFF tracks S&P U.S. Preferred Stock Index, while SPFF tracks S&P Enhanced Yield North American Preferred Stock Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.46% for PFF and 0.58% for SPFF.

Which has better risk-adjusted returns?

SPFF currently has the higher Sharpe Ratio (1.96 vs 1.39), 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.