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PFFA vs. NLY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PFFA vs. NLY

Last updated Jun 20, 2026

PFFA (Virtus InfraCap U.S. Preferred Stock ETF) is Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners, while NLY (Annaly Capital Management, Inc.) is a stock. Over the past 5 years, PFFA returned 6.42%/yr vs 3.59%/yr for NLY. At a 0.47 correlation, their price movements are largely independent.

Performance

PFFA vs. NLY - Performance Comparison

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

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Returns By Period

In the year-to-date period, PFFA achieves a 3.08% return, which is significantly higher than NLY's 2.71% return.

PFFA

1D
0.19%
1M
-0.14%
YTD
3.08%
6M
2.32%
1Y
12.59%
3Y*
14.42%
5Y*
6.42%
10Y*
—

NLY

1D
0.23%
1M
3.01%
YTD
2.71%
6M
4.34%
1Y
32.55%
3Y*
17.28%
5Y*
3.59%
10Y*
6.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PFFA vs. NLY - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
PFFA
Virtus InfraCap U.S. Preferred Stock ETF		3.08%8.22%16.11%26.45%-20.91%23.53%-7.87%31.99%-7.29%
NLY
Annaly Capital Management, Inc.		2.71%40.00%8.07%4.94%-21.41%2.48%2.38%7.22%3.76%

Correlation

The correlation between PFFA and NLY is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.42

Correlation (3Y)
Calculated over the trailing 3-year period

0.51

Correlation (5Y)
Calculated over the trailing 5-year period

0.52

Correlation (All Time)
Calculated using the full available price history since May 16, 2018

0.47

The correlation between PFFA and NLY has been stable across timeframes, ranging from 0.42 to 0.52 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Virtus InfraCap U.S. Preferred Stock ETF

Annaly Capital Management, Inc.

Often compared with PFFA:
PFFA vs. PFFPFFA vs. PFXFPFFA vs. PFFVPFFA vs. JEPIPFFA vs. SCHDPFFA vs. PGXPFFA vs. SPY
Often compared with NLY:
NLY vs. AGNCNLY vs. ONLY vs. ABRNLY vs. RITMNLY vs. EFCNLY vs. CIMNLY vs. SPY

Return for Risk

PFFA vs. NLY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PFFA
PFFA Risk / Return Rank: 4949
Overall Rank
PFFA Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
PFFA Sortino Ratio Rank: 5555
Sortino Ratio Rank
PFFA Omega Ratio Rank: 5555
Omega Ratio Rank
PFFA Calmar Ratio Rank: 4141
Calmar Ratio Rank
PFFA Martin Ratio Rank: 4242
Martin Ratio Rank
NLY
NLY Risk / Return Rank: 8181
Overall Rank
NLY Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
NLY Sortino Ratio Rank: 8282
Sortino Ratio Rank
NLY Omega Ratio Rank: 8080
Omega Ratio Rank
NLY Calmar Ratio Rank: 7777
Calmar Ratio Rank
NLY Martin Ratio Rank: 8181
Martin Ratio Rank
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. NLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) and Annaly Capital Management, Inc. (NLY). 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.

PFFANLYDifference
Sharpe ratioReturn per unit of total volatility
1.77
1.71

+0.06

Sortino ratioReturn per unit of downside risk
2.53
2.37

+0.15

Omega ratioGain probability vs. loss probability

1.33

1.30

+0.03

Calmar ratioReturn relative to maximum drawdown

1.95

2.20

-0.25

Martin ratioReturn relative to average drawdown

6.47

6.39

+0.08

PFFA vs. NLY - Sharpe Ratio Comparison

The current PFFA Sharpe Ratio is 1.77, which is comparable to the NLY Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of PFFA and NLY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

PFFA vs. NLY - Drawdown Comparison

The maximum PFFA drawdown since its inception was -70.52%, which is greater than NLY's maximum drawdown of -60.09%. Use the drawdown chart below to compare losses from any high point for PFFA and NLY.

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Drawdown Indicators

PFFANLYDifference

Max Drawdown

Largest peak-to-trough decline

-70.52%

-60.09%

-10.43%

Max Drawdown (1Y)

Largest decline over 1 year

-6.49%

-14.88%

+8.39%

Max Drawdown (3Y)

Largest decline over 3 years

-12.15%

-26.70%

+14.55%

Max Drawdown (5Y)

Largest decline over 5 years

-22.70%

-50.46%

+27.76%

Max Drawdown (10Y)

Largest decline over 10 years

—

-60.09%

—

Current Drawdown

Current decline from peak

-1.50%

-5.88%

+4.38%

Average Drawdown

Average peak-to-trough decline

-6.62%

-13.82%

+7.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.95%

5.11%

-3.16%

Volatility

PFFA vs. NLY - Volatility Comparison

The current volatility for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) is 2.17%, while Annaly Capital Management, Inc. (NLY) has a volatility of 6.36%. This indicates that PFFA experiences smaller price fluctuations and is considered to be less risky than NLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PFFANLYDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.17%

6.36%

-4.19%

Volatility (6M)

Calculated over the trailing 6-month period

5.89%

15.42%

-9.53%

Volatility (1Y)

Calculated over the trailing 1-year period

7.13%

19.14%

-12.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.53%

25.61%

-14.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.76%

28.15%

+3.61%

Dividends

PFFA vs. NLY - Dividend Comparison

PFFA's dividend yield for the trailing twelve months is around 9.62%, less than NLY's 12.61% yield.

PositionTTM20252024202320222021202020192018201720162015
NLY
Annaly Capital Management, Inc.		12.61%12.52%14.21%13.42%16.70%11.25%10.77%11.15%12.22%10.09%12.04%12.79%
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%0.00%0.00%0.00%

Frequently Asked Questions

PFFA and NLY have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

NLY has higher volatility (6.36%) compared to PFFA (2.17%). In terms of maximum drawdown, PFFA dropped -70.52% vs NLY's -60.09%.

PFFA currently has the higher Sharpe Ratio (1.77 vs 1.71), 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.

Portfolio Optimizer

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