PFFD vs. PFF
PFFD (Global X U.S. Preferred ETF) and PFF (iShares Preferred and Income Securities ETF) are both Preferred Stock/Convertible Bonds funds - PFFD tracks the ICE BofA Diversified Core U.S. Preferred Securities Index while PFF tracks the ICE Exchange-Listed Preferred & Hybrid Securities Index. Both are passively managed. Over the past 5 years, PFFD returned -0.48%/yr vs 1.03%/yr for PFF. Their correlation of 0.88 suggests significant overlap in exposure. PFFD charges 0.23%/yr vs 0.46%/yr for PFF.
Performance
PFFD vs. PFF - Performance Comparison
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Returns By Period
In the year-to-date period, PFFD achieves a 1.75% return, which is significantly higher than PFF's 1.44% return.
PFFD
- 1D
- 0.00%
- 1M
- 0.10%
- YTD
- 1.75%
- 6M
- 1.42%
- 1Y
- 6.96%
- 3Y*
- 5.74%
- 5Y*
- -0.48%
- 10Y*
- —
PFF
- 1D
- -0.19%
- 1M
- -1.04%
- YTD
- 1.44%
- 6M
- 1.15%
- 1Y
- 7.10%
- 3Y*
- 6.69%
- 5Y*
- 1.03%
- 10Y*
- 3.21%
PFFD vs. PFF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFFD Global X U.S. Preferred ETF | 1.75% | 3.22% | 7.07% | 6.85% | -20.20% | 5.07% | 8.90% | 17.43% | -3.94% | 0.69% |
PFF iShares Preferred and Income Securities ETF | 1.44% | 4.87% | 7.24% | 9.22% | -18.19% | 7.15% | 7.89% | 15.93% | -4.64% | -0.52% |
Correlation
The correlation between PFFD and PFF is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2017 | 0.88 |
The correlation between PFFD and PFF has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
PFFD vs. PFF — Risk / Return Rank
PFFD
PFF
PFFD vs. PFF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Preferred ETF (PFFD) and iShares Preferred and Income Securities ETF (PFF). 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.
| PFFD | PFF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.17 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.35 | -0.18 |
| Martin ratioReturn relative to average drawdown | 3.42 | 4.07 | -0.65 |
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Drawdowns
PFFD vs. PFF - Drawdown Comparison
The maximum PFFD drawdown since its inception was -30.93%, smaller than the maximum PFF drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for PFFD and PFF.
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Drawdown Indicators
| PFFD | PFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.93% | -65.55% | +34.62% |
Max Drawdown (1Y)Largest decline over 1 year | -5.97% | -5.28% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -10.84% | -10.63% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -24.45% | -21.05% | -3.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.10% | — |
Current DrawdownCurrent decline from peak | -4.19% | -2.54% | -1.65% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -5.75% | -0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 1.75% | +0.29% |
Volatility
PFFD vs. PFF - Volatility Comparison
The current volatility for Global X U.S. Preferred ETF (PFFD) is 1.99%, while iShares Preferred and Income Securities ETF (PFF) has a volatility of 2.42%. This indicates that PFFD experiences smaller price fluctuations and is considered to be less risky than PFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFD | PFF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 2.42% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 5.44% | 5.42% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.35% | 7.03% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.01% | 10.35% | +0.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.73% | 12.68% | +0.05% |
PFFD vs. PFF - Expense Ratio Comparison
PFFD has a 0.23% expense ratio, which is lower than PFF's 0.46% expense ratio.
Dividends
PFFD vs. PFF - Dividend Comparison
PFFD's dividend yield for the trailing twelve months is around 6.40%, more than PFF's 5.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFF iShares Preferred and Income Securities ETF | 5.55% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
PFFD Global X U.S. Preferred ETF | 6.40% | 6.37% | 6.42% | 6.49% | 6.63% | 5.09% | 5.17% | 5.48% | 6.21% | 1.94% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.92, PFFD and PFF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PFF has higher volatility (2.42%) compared to PFFD (1.99%). In terms of maximum drawdown, PFFD dropped -30.93% vs PFF's -65.55%.
On 5-year performance, PFF leads with 1.03% vs -0.48% for PFFD. On fees, PFFD is cheaper at 0.23% per year. On volatility, PFFD has been the lower-risk option at 1.99%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFF has performed better with a 1.03% return vs -0.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFFD is cheaper with a 0.23% expense ratio, compared with 0.46% for PFF.
PFFD has the higher dividend yield at 6.40%, compared with 5.55% for PFF.
PFFD tracks ICE BofA Diversified Core U.S. Preferred Securities Index, while PFF tracks ICE Exchange-Listed Preferred & Hybrid Securities Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.23% for PFFD and 0.46% for PFF.
PFF currently has the higher Sharpe Ratio (1.01 vs 0.95), 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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