PFFL vs. FBGX

Last updated Jun 24, 2026

PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) and FBGX (UBS AG FI Enhanced Large Cap Growth ETN) are both exchange-traded funds - PFFL is a Preferred Stock/Convertible Bonds fund tracking the Solactive Preferred Stock ETF Index, while FBGX is a Leveraged Equities fund tracking the Russell 1000 Growth Index (200%). Both are passively managed. At a 0.41 correlation, their price movements are largely independent. PFFL charges 0.85%/yr vs 1.29%/yr for FBGX.

Performance

PFFL vs. FBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) and UBS AG FI Enhanced Large Cap Growth ETN (FBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PFFL

• 1D: -0.19%
• 1M: -1.40%
• YTD: -1.90%
• 6M: -2.44%
• 1Y: 4.83%
• 3Y*: 4.18%
• 5Y*: -6.57%
• 10Y*: —

FBGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PFFL vs. FBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN	-1.90%	2.18%	4.77%	8.65%	-39.15%	7.52%	-15.47%	30.21%	-10.77%
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	35.73%	83.74%	-56.41%	57.04%	65.79%	75.84%	-36.18%

Correlation

The correlation between PFFL and FBGX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (All Time) Calculated using the full available price history since Sep 26, 2018	0.41

The correlation between PFFL and FBGX shifts across timeframes, from 0.15 (3 years) to 0.41 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PFFL vs. FBGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PFFL

PFFL Risk / Return Rank: 13
PFFL Sharpe Ratio Rank: 13
PFFL Sortino Ratio Rank: 12
PFFL Omega Ratio Rank: 12
PFFL Calmar Ratio Rank: 14
PFFL Martin Ratio Rank: 13

FBGX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PFFL vs. FBGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) and UBS AG FI Enhanced Large Cap Growth ETN (FBGX). 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.

	PFFL	FBGX	Difference
Sharpe ratio: Return per unit of total volatility	0.28	—	—
Sortino ratio: Return per unit of downside risk	0.51	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.41	—	—
Martin ratio: Return relative to average drawdown	0.94	—	—

Drawdowns

Drawdown Indicators

	PFFL	FBGX	Difference
Max Drawdown Largest peak-to-trough decline	-80.68%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.51%	—	—
Current Drawdown Current decline from peak	-39.57%	—	—
Average Drawdown Average peak-to-trough decline	-28.59%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	—	—

Volatility

Volatility by Period

	PFFL	FBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.12%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.66%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.16%	—	—

PFFL vs. FBGX - Expense Ratio Comparison

PFFL has a 0.85% expense ratio, which is lower than FBGX's 1.29% expense ratio.

Dividends

PFFL vs. FBGX - Dividend Comparison

PFFL's dividend yield for the trailing twelve months is around 13.14%, while FBGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN	13.14%	13.27%	13.76%	13.71%	13.90%	8.82%	9.75%	11.21%	2.02%

Frequently Asked Questions

Can I hold both PFFL and FBGX in my portfolio?

PFFL and FBGX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PFFL or FBGX?

On fees, PFFL is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PFFL or FBGX?

PFFL is cheaper with a 0.85% expense ratio, compared with 1.29% for FBGX.

Which ETF pays a higher dividend yield, PFFL or FBGX?

PFFL has the higher dividend yield at 13.14%, compared with 0.00% for FBGX.

What is the main difference between PFFL and FBGX?

PFFL is categorized as Preferred Stock/Convertible Bonds, while FBGX is Leveraged Equities. PFFL tracks Solactive Preferred Stock ETF Index, while FBGX tracks Russell 1000 Growth Index (200%). Their fees differ too: 0.85% for PFFL and 1.29% for FBGX.