PFFR vs. VPC

Last updated Jun 4, 2026

PFFR (InfraCap REIT Preferred ETF) and VPC (Virtus Private Credit ETF) are both exchange-traded funds - PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index, while VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index. Both are passively managed. Over the past 5 years, PFFR returned 0.97%/yr vs 1.17%/yr for VPC. At a 0.41 correlation, their price movements are largely independent. PFFR charges 0.45%/yr vs 0.75%/yr for VPC.

Performance

PFFR vs. VPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in InfraCap REIT Preferred ETF (PFFR) and Virtus Private Credit ETF (VPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFFR achieves a 0.80% return, which is significantly higher than VPC's -9.26% return.

PFFR

• 1D: -0.22%
• 1M: -0.75%
• YTD: 0.80%
• 6M: 0.96%
• 1Y: 6.82%
• 3Y*: 9.27%
• 5Y*: 0.97%
• 10Y*: —

VPC

• 1D: -1.89%
• 1M: -5.24%
• YTD: -9.26%
• 6M: -10.18%
• 1Y: -12.88%
• 3Y*: 2.85%
• 5Y*: 1.17%
• 10Y*: —

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

PFFR vs. VPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PFFR InfraCap REIT Preferred ETF	0.80%	5.36%	7.12%	21.04%	-23.90%	6.76%	0.19%	12.56%
VPC Virtus Private Credit ETF	-9.26%	-6.75%	10.52%	22.20%	-11.70%	34.18%	-9.50%	9.32%

Correlation

The correlation between PFFR and VPC is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019	0.41

The correlation between PFFR and VPC shifts across timeframes, from 0.25 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

PFFR vs. VPC - Sectors Allocation Comparison

Sectors	PFFR	VPC
Real Estate	84.9%	-
Financial Services	5.3%	98.3%
Basic Materials	-	-
Communication Services	-	0.1%
Consumer Cyclical	-	0.1%
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	0.0%
Industrials	-	0.1%
Technology	-	1.3%
Utilities	-	-

Return for Risk

PFFR vs. VPC — Risk / Return Rank

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

PFFR

PFFR Risk / Return Rank: 23
PFFR Sharpe Ratio Rank: 24
PFFR Sortino Ratio Rank: 23
PFFR Omega Ratio Rank: 23
PFFR Calmar Ratio Rank: 23
PFFR Martin Ratio Rank: 20

VPC

VPC Risk / Return Rank: 3
VPC Sharpe Ratio Rank: 1
VPC Sortino Ratio Rank: 2
VPC Omega Ratio Rank: 2
VPC Calmar Ratio Rank: 4
VPC Martin Ratio Rank: 3

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.

PFFR vs. VPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for InfraCap REIT Preferred ETF (PFFR) 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.

	PFFR	VPC	Difference
Sharpe ratio: Return per unit of total volatility	0.87	-0.98	+1.85
Sortino ratio: Return per unit of downside risk	1.27	-1.33	+2.60
Omega ratio: Gain probability vs. loss probability	1.16	0.85	+0.30
Calmar ratio: Return relative to maximum drawdown	1.04	-0.57	+1.61
Martin ratio: Return relative to average drawdown	2.44	-1.13	+3.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFFR vs. VPC - Sharpe Ratio Comparison

The current PFFR Sharpe Ratio is 0.87, which is higher than the VPC Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of PFFR and VPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PFFR	VPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	-0.98	+1.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.09	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.20	-0.04

Drawdowns

PFFR vs. VPC - Drawdown Comparison

The maximum PFFR drawdown since its inception was -53.02%, roughly equal to the maximum VPC drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for PFFR and VPC.

Drawdown Indicators

	PFFR	VPC	Difference
Max Drawdown Largest peak-to-trough decline	-53.02%	-53.45%	+0.43%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-22.76%	+16.19%
Max Drawdown (3Y) Largest decline over 3 years	-11.16%	-24.86%	+13.70%
Max Drawdown (5Y) Largest decline over 5 years	-29.80%	-24.86%	-4.94%
Current Drawdown Current decline from peak	-3.05%	-19.63%	+16.58%
Average Drawdown Average peak-to-trough decline	-7.00%	-7.67%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	11.45%	-8.65%

Volatility

PFFR vs. VPC - Volatility Comparison

The current volatility for InfraCap REIT Preferred ETF (PFFR) is 2.81%, while Virtus Private Credit ETF (VPC) has a volatility of 3.27%. This indicates that PFFR 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.

Volatility by Period

	PFFR	VPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.81%	3.27%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	6.14%	10.85%	-4.71%
Volatility (1Y) Calculated over the trailing 1-year period	7.91%	13.17%	-5.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.47%	13.50%	-3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	20.56%	-0.02%

PFFR vs. VPC - Expense Ratio Comparison

PFFR has a 0.45% expense ratio, which is lower than VPC's 0.75% expense ratio.

Dividends

PFFR vs. VPC - Dividend Comparison

PFFR's dividend yield for the trailing twelve months is around 8.29%, less than VPC's 17.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFFR InfraCap REIT Preferred ETF	8.29%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%
VPC Virtus Private Credit ETF	17.30%	14.33%	11.26%	11.71%	10.74%	6.31%	10.06%	8.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PFFR and VPC in my portfolio?

PFFR and VPC have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFFR or VPC?

VPC has higher volatility (3.27%) compared to PFFR (2.81%). In terms of maximum drawdown, PFFR dropped -53.02% vs VPC's -53.45%.

Which ETF is better, PFFR or VPC?

On 5-year performance, VPC leads with 1.17% vs 0.97% for PFFR. On fees, PFFR is cheaper at 0.45% per year. On volatility, PFFR has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFFR or VPC?

Over the 5-year period, VPC has performed better with a 1.17% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFFR or VPC?

PFFR is cheaper with a 0.45% expense ratio, compared with 0.75% for VPC.

Which ETF pays a higher dividend yield, PFFR or VPC?

VPC has the higher dividend yield at 17.30%, compared with 8.29% for PFFR.

What is the main difference between PFFR and VPC?

PFFR is categorized as Preferred Stock/Convertible Bonds, while VPC is Nontraditional Bonds. PFFR tracks Indxx REIT Preferred Stock Index, while VPC tracks Indxx Private Credit Index. Their fees differ too: 0.45% for PFFR and 0.75% for VPC.

Which has better risk-adjusted returns?

PFFR currently has the higher Sharpe Ratio (0.87 vs -0.98), 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.