PFFL vs. IBIC
PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - PFFL is a Preferred Stock/Convertible Bonds fund tracking the Solactive Preferred Stock ETF Index, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, PFFL returned -2.06% vs 4.34% for IBIC. At a 0.14 correlation, their price movements are largely independent. PFFL charges 0.85%/yr vs 0.10%/yr for IBIC.
Performance
PFFL vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, PFFL achieves a -3.57% return, which is significantly lower than IBIC's 2.61% return.
PFFL
- 1D
- -0.48%
- 1M
- -2.65%
- 6M
- -6.30%
- YTD
- -3.57%
- 1Y
- -2.06%
- 3Y*
- 2.84%
- 5Y*
- -7.00%
- 10Y*
- —
IBIC
- 1D
- 0.06%
- 1M
- 0.25%
- 6M
- 2.51%
- YTD
- 2.61%
- 1Y
- 4.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PFFL vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | -3.57% | 2.18% | 4.77% | 8.94% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.61% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between PFFL and IBIC is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.14 |
The correlation between PFFL and IBIC shifts across timeframes, from -0.08 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PFFL vs. IBIC — Risk / Return Rank
PFFL
IBIC
PFFL vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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 | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.96 | ||
| Sortino ratioReturn per unit of downside risk | -8.75 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 2.18 | -1.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 16.27 | -16.44 |
| Martin ratioReturn relative to average drawdown | -0.37 | 55.67 | -56.05 |
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Drawdowns
PFFL vs. IBIC - Drawdown Comparison
The maximum PFFL drawdown since its inception was -80.68%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for PFFL and IBIC.
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Drawdown Indicators
| PFFL | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.68% | -0.90% | -79.78% |
Max Drawdown (1Y)Largest decline over 1 year | -11.92% | -0.27% | -11.65% |
Max Drawdown (3Y)Largest decline over 3 years | -23.75% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -48.51% | — | — |
Current DrawdownCurrent decline from peak | -40.60% | -0.02% | -40.58% |
Average DrawdownAverage peak-to-trough decline | -28.67% | -0.10% | -28.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.55% | 0.08% | +5.47% |
Volatility
PFFL vs. IBIC - Volatility Comparison
ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) has a higher volatility of 4.25% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.29%. This indicates that PFFL's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFL | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 0.29% | +3.96% |
Volatility (6M)Calculated over the trailing 6-month period | 10.91% | 0.68% | +10.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.91% | 0.90% | +16.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.69% | 1.56% | +22.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 54.99% | 1.56% | +53.43% |
PFFL vs. IBIC - Expense Ratio Comparison
PFFL has a 0.85% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
PFFL vs. IBIC - Dividend Comparison
PFFL's dividend yield for the trailing twelve months is around 13.37%, more than IBIC's 4.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 4.62% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | 13.37% | 13.27% | 13.76% | 13.71% | 13.90% | 8.82% | 9.75% | 11.21% | 2.02% |
Frequently Asked Questions
PFFL and IBIC have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFFL has higher volatility (4.25%) compared to IBIC (0.29%). In terms of maximum drawdown, PFFL dropped -80.68% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.34% vs -2.06% for PFFL. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.34% return vs -2.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.85% for PFFL.
PFFL has the higher dividend yield at 13.37%, compared with 4.62% for IBIC.
PFFL is categorized as Preferred Stock/Convertible Bonds, while IBIC is Inflation-Protected Bonds. PFFL tracks Solactive Preferred Stock ETF Index, while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: UBS and iShares. Their fees differ too: 0.85% for PFFL and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.83 vs -0.12), 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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