PFFA vs. VEMY
PFFA (Virtus InfraCap U.S. Preferred Stock ETF) and VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) are both exchange-traded funds - PFFA is a Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners, while VEMY is a Emerging Markets Bonds fund actively managed by Virtus. Both are actively managed. Over the past 3 years, PFFA returned 14.42%/yr vs 15.11%/yr for VEMY. A 0.51 correlation means they provide meaningful diversification when combined. PFFA charges 1.47%/yr vs 0.58%/yr for VEMY.
Performance
PFFA vs. VEMY - Performance Comparison
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Returns By Period
In the year-to-date period, PFFA achieves a 3.08% return, which is significantly lower than VEMY's 6.70% return.
PFFA
- 1D
- 0.19%
- 1M
- -0.14%
- YTD
- 3.08%
- 6M
- 2.32%
- 1Y
- 12.59%
- 3Y*
- 14.42%
- 5Y*
- 6.42%
- 10Y*
- —
VEMY
- 1D
- 0.28%
- 1M
- 2.19%
- YTD
- 6.70%
- 6M
- 6.88%
- 1Y
- 18.55%
- 3Y*
- 15.11%
- 5Y*
- —
- 10Y*
- —
PFFA vs. VEMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 3.08% | 8.22% | 16.11% | 26.45% | -2.40% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 6.70% | 15.27% | 13.48% | 14.45% | -1.43% |
Correlation
The correlation between PFFA and VEMY is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.51 |
The correlation between PFFA and VEMY has been stable across timeframes, ranging from 0.51 to 0.53 - a consistent structural relationship.
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Return for Risk
PFFA vs. VEMY — Risk / Return Rank
PFFA
VEMY
PFFA vs. VEMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) and Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). 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 | VEMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.63 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.95 | 4.65 | -2.70 |
| Martin ratioReturn relative to average drawdown | 6.47 | 22.07 | -15.60 |
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Drawdowns
PFFA vs. VEMY - Drawdown Comparison
The maximum PFFA drawdown since its inception was -70.52%, which is greater than VEMY's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for PFFA and VEMY.
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Drawdown Indicators
| PFFA | VEMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.52% | -8.77% | -61.75% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -4.00% | -2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -12.15% | -6.57% | -5.58% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | — | — |
Current DrawdownCurrent decline from peak | -1.50% | -0.09% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -6.62% | -1.30% | -5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.95% | 0.84% | +1.11% |
Volatility
PFFA vs. VEMY - Volatility Comparison
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) has a higher volatility of 2.17% compared to Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) at 1.45%. This indicates that PFFA's price experiences larger fluctuations and is considered to be riskier than VEMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFA | VEMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.17% | 1.45% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 5.89% | 4.73% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.13% | 6.08% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.53% | 7.61% | +3.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.76% | 7.61% | +24.15% |
PFFA vs. VEMY - Expense Ratio Comparison
PFFA has a 1.47% expense ratio, which is higher than VEMY's 0.58% expense ratio.
Dividends
PFFA vs. VEMY - Dividend Comparison
PFFA's dividend yield for the trailing twelve months is around 9.62%, more than VEMY's 8.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 8.31% | 8.89% | 10.28% | 9.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFFA and VEMY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFFA has higher volatility (2.17%) compared to VEMY (1.45%). In terms of maximum drawdown, PFFA dropped -70.52% vs VEMY's -8.77%.
On 3-year performance, VEMY leads with 15.11% vs 14.42% for PFFA. On fees, VEMY is cheaper at 0.58% per year. On volatility, VEMY has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VEMY has performed better with a 15.11% return vs 14.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEMY is cheaper with a 0.58% expense ratio, compared with 1.47% for PFFA.
PFFA has the higher dividend yield at 9.62%, compared with 8.31% for VEMY.
PFFA is categorized as Preferred Stock/Convertible Bonds, while VEMY is Emerging Markets Bonds. They also come from different issuers: Virtus Investment Partners and Virtus. Their fees differ too: 1.47% for PFFA and 0.58% for VEMY.
VEMY currently has the higher Sharpe Ratio (3.07 vs 1.77), 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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