PFFA vs. SLV
PFFA (Virtus InfraCap U.S. Preferred Stock ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - PFFA is a Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners, while SLV is a Silver fund tracking the LBMA Silver Price. PFFA is actively managed, while SLV is passively managed. Over the past 5 years, PFFA returned 6.42%/yr vs 20.04%/yr for SLV. At a 0.18 correlation, their price movements are largely independent. PFFA charges 1.47%/yr vs 0.50%/yr for SLV.
Performance
PFFA vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, PFFA achieves a 3.08% return, which is significantly higher than SLV's -7.62% return.
PFFA
- 1D
- 0.19%
- 1M
- 0.57%
- YTD
- 3.08%
- 6M
- 2.32%
- 1Y
- 12.37%
- 3Y*
- 14.42%
- 5Y*
- 6.42%
- 10Y*
- —
SLV
- 1D
- -1.81%
- 1M
- -12.95%
- YTD
- -7.62%
- 6M
- -2.33%
- 1Y
- 81.88%
- 3Y*
- 38.96%
- 5Y*
- 20.04%
- 10Y*
- 13.58%
PFFA vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% |
SLV iShares Silver Trust | -7.62% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -5.28% |
Correlation
The correlation between PFFA and SLV is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since May 16, 2018 | 0.18 |
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Return for Risk
PFFA vs. SLV — Risk / Return Rank
PFFA
SLV
PFFA vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) and iShares Silver Trust (SLV). 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.
| PFFA | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.27 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 1.75 | +0.20 |
| Martin ratioReturn relative to average drawdown | 6.47 | 3.68 | +2.80 |
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Drawdowns
PFFA vs. SLV - Drawdown Comparison
The maximum PFFA drawdown since its inception was -70.52%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for PFFA and SLV.
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Drawdown Indicators
| PFFA | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.52% | -76.28% | +5.76% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -45.40% | +38.91% |
Max Drawdown (3Y)Largest decline over 3 years | -12.15% | -45.40% | +33.25% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | -45.40% | +22.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.40% | — |
Current DrawdownCurrent decline from peak | -1.50% | -43.65% | +42.15% |
Average DrawdownAverage peak-to-trough decline | -6.62% | -44.65% | +38.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 21.52% | -19.57% |
Volatility
PFFA vs. SLV - Volatility Comparison
The current volatility for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) is 2.17%, while iShares Silver Trust (SLV) has a volatility of 14.09%. This indicates that PFFA experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFA | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.17% | 14.09% | -11.92% |
Volatility (6M)Calculated over the trailing 6-month period | 5.89% | 59.18% | -53.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.13% | 60.10% | -52.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.53% | 36.50% | -24.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.76% | 32.04% | -0.28% |
PFFA vs. SLV - Expense Ratio Comparison
PFFA has a 1.47% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
PFFA vs. SLV - Dividend Comparison
PFFA's dividend yield for the trailing twelve months is around 9.62%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 8.82% | 9.47% | 9.18% | 9.56% | 10.75% | 7.64% | 8.54% | 10.02% | 5.15% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFFA and SLV have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.09%) compared to PFFA (2.17%). In terms of maximum drawdown, PFFA dropped -70.52% vs SLV's -76.28%.
On 5-year performance, SLV leads with 20.04% vs 6.42% for PFFA. On fees, SLV is cheaper at 0.50% per year. On volatility, PFFA has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SLV has performed better with a 20.04% return vs 6.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 1.47% for PFFA.
PFFA has the higher dividend yield at 8.82%, compared with 0.00% for SLV.
PFFA is categorized as Preferred Stock/Convertible Bonds, while SLV is Silver. They also come from different issuers: Virtus Investment Partners and iShares. Their fees differ too: 1.47% for PFFA and 0.50% for SLV.
PFFA currently has the higher Sharpe Ratio (1.77 vs 1.32), 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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