PFFD vs. PFFV
PFFD (Global X U.S. Preferred ETF) and PFFV (Global X Variable Rate Preferred ETF) are both Preferred Stock/Convertible Bonds funds from Global X - PFFD tracks the ICE BofA Diversified Core U.S. Preferred Securities Index while PFFV tracks the ICE U.S. Variable Rate Preferred Securities Index. Both are passively managed. Over the past 5 years, PFFD returned -0.48%/yr vs 1.90%/yr for PFFV. A 0.78 correlation means they provide meaningful diversification when combined. PFFD charges 0.23%/yr vs 0.25%/yr for PFFV.
Performance
PFFD vs. PFFV - Performance Comparison
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Returns By Period
In the year-to-date period, PFFD achieves a 1.75% return, which is significantly lower than PFFV's 2.28% return.
PFFD
- 1D
- -0.79%
- 1M
- 0.10%
- YTD
- 1.75%
- 6M
- 1.05%
- 1Y
- 7.25%
- 3Y*
- 5.74%
- 5Y*
- -0.48%
- 10Y*
- —
PFFV
- 1D
- -0.83%
- 1M
- -0.45%
- YTD
- 2.28%
- 6M
- 2.11%
- 1Y
- 4.43%
- 3Y*
- 7.71%
- 5Y*
- 1.90%
- 10Y*
- —
PFFD vs. PFFV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PFFD Global X U.S. Preferred ETF | 1.75% | 3.22% | 7.07% | 6.85% | -20.20% | 5.07% | 12.28% |
PFFV Global X Variable Rate Preferred ETF | 2.28% | 2.08% | 9.45% | 10.64% | -13.81% | 6.35% | 13.36% |
Correlation
The correlation between PFFD and PFFV is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2020 | 0.78 |
The correlation between PFFD and PFFV shifts across timeframes, from 0.68 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PFFD vs. PFFV — Risk / Return Rank
PFFD
PFFV
PFFD vs. PFFV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X U.S. Preferred ETF (PFFD) and Global X Variable Rate Preferred ETF (PFFV). 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 | PFFV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.19 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 1.38 | -0.16 |
| Martin ratioReturn relative to average drawdown | 3.57 | 3.84 | -0.27 |
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Drawdowns
PFFD vs. PFFV - Drawdown Comparison
The maximum PFFD drawdown since its inception was -30.93%, which is greater than PFFV's maximum drawdown of -18.96%. Use the drawdown chart below to compare losses from any high point for PFFD and PFFV.
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Drawdown Indicators
| PFFD | PFFV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.93% | -18.96% | -11.97% |
Max Drawdown (1Y)Largest decline over 1 year | -5.97% | -3.23% | -2.74% |
Max Drawdown (3Y)Largest decline over 3 years | -10.84% | -6.07% | -4.77% |
Max Drawdown (5Y)Largest decline over 5 years | -24.45% | -18.96% | -5.49% |
Current DrawdownCurrent decline from peak | -4.19% | -0.94% | -3.25% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -4.15% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 1.16% | +0.88% |
Volatility
PFFD vs. PFFV - Volatility Comparison
Global X U.S. Preferred ETF (PFFD) has a higher volatility of 1.99% compared to Global X Variable Rate Preferred ETF (PFFV) at 1.19%. This indicates that PFFD's price experiences larger fluctuations and is considered to be riskier than PFFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFD | PFFV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 1.19% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 5.46% | 2.99% | +2.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.36% | 4.24% | +3.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.01% | 8.85% | +2.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.73% | 8.66% | +4.07% |
PFFD vs. PFFV - Expense Ratio Comparison
PFFD has a 0.23% expense ratio, which is lower than PFFV's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PFFD vs. PFFV - Dividend Comparison
PFFD's dividend yield for the trailing twelve months is around 6.40%, less than PFFV's 8.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
PFFV Global X Variable Rate Preferred ETF | 8.17% | 8.26% | 7.33% | 7.17% | 6.60% | 5.23% | 2.29% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFFD and PFFV have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFFD has higher volatility (1.99%) compared to PFFV (1.19%). In terms of maximum drawdown, PFFD dropped -30.93% vs PFFV's -18.96%.
On 5-year performance, PFFV leads with 1.90% vs -0.48% for PFFD. On fees, PFFD is cheaper at 0.23% per year. On volatility, PFFV has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFFV has performed better with a 1.90% 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 0.25% for PFFV.
PFFV has the higher dividend yield at 8.17%, compared with 6.40% for PFFD.
PFFD tracks ICE BofA Diversified Core U.S. Preferred Securities Index, while PFFV tracks ICE U.S. Variable Rate Preferred Securities Index. Their fees differ too: 0.23% for PFFD and 0.25% for PFFV.
PFFV currently has the higher Sharpe Ratio (1.05 vs 0.99), 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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