PFFA vs. IPPP

Last updated Jun 4, 2026

PFFA (Virtus InfraCap U.S. Preferred Stock ETF) and IPPP (Preferred-Plus ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. PFFA charges 1.47%/yr vs 1.27%/yr for IPPP.

Performance

PFFA vs. IPPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus InfraCap U.S. Preferred Stock ETF (PFFA) and Preferred-Plus ETF (IPPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PFFA

• 1D: -0.70%
• 1M: -0.26%
• YTD: 3.08%
• 6M: 4.03%
• 1Y: 14.79%
• 3Y*: 14.46%
• 5Y*: 6.57%
• 10Y*: —

IPPP

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PFFA vs. IPPP - Yearly Performance Comparison

	2026 (YTD)
PFFA Virtus InfraCap U.S. Preferred Stock ETF	1.47%
IPPP Preferred-Plus ETF	0.00%

PFFA vs. IPPP - Sectors Allocation Comparison

Sectors	PFFA	IPPP
Real Estate	41.2%	-
Financial Services	28.1%	-
Industrials	10.2%	-
Communication Services	5.3%	-
Energy	3.2%	-
Technology	3.0%	-
Utilities	2.3%	100.0%
Healthcare	0.9%	-
Basic Materials	0.3%	-
Consumer Cyclical	0.2%	-
Consumer Defensive	-	-

Return for Risk

PFFA vs. IPPP — Risk / Return Rank

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

PFFA

PFFA Risk / Return Rank: 56
PFFA Sharpe Ratio Rank: 61
PFFA Sortino Ratio Rank: 63
PFFA Omega Ratio Rank: 64
PFFA Calmar Ratio Rank: 45
PFFA Martin Ratio Rank: 46

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.

PFFA vs. IPPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) and Preferred-Plus ETF (IPPP). 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.

	PFFA	IPPP	Difference
Sharpe ratio: Return per unit of total volatility	2.12	—	—
Sortino ratio: Return per unit of downside risk	3.00	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	2.29	—	—
Martin ratio: Return relative to average drawdown	7.79	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PFFA	IPPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	—	—

Drawdowns

PFFA vs. IPPP - Drawdown Comparison

The maximum PFFA drawdown since its inception was -70.52%, which is greater than IPPP's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PFFA and IPPP.

Drawdown Indicators

	PFFA	IPPP	Difference
Max Drawdown Largest peak-to-trough decline	-70.52%	0.00%	-70.52%
Max Drawdown (1Y) Largest decline over 1 year	-6.49%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.70%	—	—
Current Drawdown Current decline from peak	-1.50%	0.00%	-1.50%
Average Drawdown Average peak-to-trough decline	-6.65%	0.00%	-6.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	—	—

Volatility

Volatility by Period

	PFFA	IPPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.02%	0.00%	+7.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.51%	0.00%	+11.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.84%	0.00%	+31.84%

PFFA vs. IPPP - Expense Ratio Comparison

PFFA has a 1.47% expense ratio, which is higher than IPPP's 1.27% expense ratio.

Dividends

PFFA vs. IPPP - Dividend Comparison

PFFA's dividend yield for the trailing twelve months is around 9.62%, while IPPP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFFA Virtus InfraCap U.S. Preferred Stock ETF	9.62%	9.47%	9.18%	9.56%	10.75%	7.64%	8.54%	10.02%	5.15%

Frequently Asked Questions

Which ETF is better, PFFA or IPPP?

On fees, IPPP is cheaper at 1.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PFFA or IPPP?

IPPP is cheaper with a 1.27% expense ratio, compared with 1.47% for PFFA.

Which ETF pays a higher dividend yield, PFFA or IPPP?

PFFA has the higher dividend yield at 9.62%, compared with 0.00% for IPPP.

What is the main difference between PFFA and IPPP?

They also come from different issuers: Virtus Investment Partners and Innovative Portfolios. Their fees differ too: 1.47% for PFFA and 1.27% for IPPP.