PFFA vs. VPC
PFFA (Virtus InfraCap U.S. Preferred Stock ETF) and VPC (Virtus Private Credit ETF) are both exchange-traded funds - PFFA is a Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners, while VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index. PFFA is actively managed, while VPC is passively managed. Over the past 5 years, PFFA returned 6.09%/yr vs 0.39%/yr for VPC. A 0.51 correlation means they provide meaningful diversification when combined. PFFA charges 1.47%/yr vs 0.75%/yr for VPC.
Performance
PFFA vs. VPC - Performance Comparison
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Returns By Period
In the year-to-date period, PFFA achieves a 2.26% return, which is significantly higher than VPC's -12.79% return.
PFFA
- 1D
- -0.28%
- 1M
- -0.23%
- YTD
- 2.26%
- 6M
- 1.93%
- 1Y
- 11.54%
- 3Y*
- 14.10%
- 5Y*
- 6.09%
- 10Y*
- —
VPC
- 1D
- 0.41%
- 1M
- -3.76%
- YTD
- -12.79%
- 6M
- -11.42%
- 1Y
- -15.79%
- 3Y*
- 1.19%
- 5Y*
- 0.39%
- 10Y*
- —
PFFA vs. VPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 2.26% | 8.22% | 16.11% | 26.45% | -20.91% | 23.53% | -7.87% | 22.28% |
VPC Virtus Private Credit ETF | -12.79% | -6.75% | 10.52% | 22.20% | -11.70% | 34.18% | -9.50% | 9.25% |
Correlation
The correlation between PFFA and VPC is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.51 |
The correlation between PFFA and VPC has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
PFFA vs. VPC — Risk / Return Rank
PFFA
VPC
PFFA vs. VPC - 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 Private Credit ETF (VPC). 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 | VPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.80 | ||
| Sortino ratioReturn per unit of downside risk | +3.92 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 0.82 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | -0.70 | +2.48 |
| Martin ratioReturn relative to average drawdown | 5.90 | -1.30 | +7.20 |
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Drawdowns
PFFA vs. VPC - Drawdown Comparison
The maximum PFFA drawdown since its inception was -70.52%, which is greater than VPC's maximum drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for PFFA and VPC.
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Drawdown Indicators
| PFFA | VPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.52% | -53.45% | -17.07% |
Max Drawdown (1Y)Largest decline over 1 year | -6.49% | -22.76% | +16.27% |
Max Drawdown (3Y)Largest decline over 3 years | -12.15% | -24.86% | +12.71% |
Max Drawdown (5Y)Largest decline over 5 years | -22.70% | -24.86% | +2.16% |
Current DrawdownCurrent decline from peak | -2.28% | -22.76% | +20.48% |
Average DrawdownAverage peak-to-trough decline | -6.62% | -7.76% | +1.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.96% | 12.20% | -10.24% |
Volatility
PFFA vs. VPC - Volatility Comparison
The current volatility for Virtus InfraCap U.S. Preferred Stock ETF (PFFA) is 2.13%, while Virtus Private Credit ETF (VPC) has a volatility of 4.19%. This indicates that PFFA experiences smaller price fluctuations and is considered to be less risky than VPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFA | VPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 4.19% | -2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 5.91% | 11.26% | -5.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.16% | 13.50% | -6.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.54% | 13.56% | -2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.74% | 20.52% | +11.22% |
PFFA vs. VPC - Expense Ratio Comparison
PFFA has a 1.47% expense ratio, which is higher than VPC's 0.75% expense ratio.
Dividends
PFFA vs. VPC - Dividend Comparison
PFFA's dividend yield for the trailing twelve months is around 9.79%, less than VPC's 16.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 9.79% | 9.47% | 9.18% | 9.56% | 10.75% | 7.64% | 8.54% | 10.02% | 5.15% |
VPC Virtus Private Credit ETF | 16.70% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% | 0.00% |
Frequently Asked Questions
PFFA and VPC have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPC has higher volatility (4.19%) compared to PFFA (2.13%). In terms of maximum drawdown, PFFA dropped -70.52% vs VPC's -53.45%.
On 5-year performance, PFFA leads with 6.09% vs 0.39% for VPC. On fees, VPC is cheaper at 0.75% per year. On volatility, PFFA has been the lower-risk option at 2.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFFA has performed better with a 6.09% return vs 0.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPC is cheaper with a 0.75% expense ratio, compared with 1.47% for PFFA.
VPC has the higher dividend yield at 16.70%, compared with 9.79% for PFFA.
PFFA is categorized as Preferred Stock/Convertible Bonds, while VPC is Nontraditional Bonds. Their fees differ too: 1.47% for PFFA and 0.75% for VPC.
PFFA currently has the higher Sharpe Ratio (1.62 vs -1.18), 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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