PFFV vs. BND
PFFV (Global X Variable Rate Preferred ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - PFFV is a Preferred Stock/Convertible Bonds fund tracking the ICE U.S. Variable Rate Preferred Securities Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 5 years, PFFV returned 2.28%/yr vs 0.20%/yr for BND. At a 0.36 correlation, their price movements are largely independent. PFFV charges 0.25%/yr vs 0.03%/yr for BND.
Performance
PFFV vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, PFFV achieves a 2.97% return, which is significantly higher than BND's 0.46% return.
PFFV
- 1D
- -0.19%
- 1M
- 0.23%
- YTD
- 2.97%
- 6M
- 3.10%
- 1Y
- 5.41%
- 3Y*
- 7.52%
- 5Y*
- 2.28%
- 10Y*
- —
BND
- 1D
- 0.03%
- 1M
- 0.12%
- YTD
- 0.46%
- 6M
- 0.46%
- 1Y
- 5.19%
- 3Y*
- 4.03%
- 5Y*
- 0.20%
- 10Y*
- 1.60%
PFFV vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PFFV Global X Variable Rate Preferred ETF | 2.97% | 2.08% | 9.45% | 10.64% | -13.81% | 6.35% | 13.36% |
BND Vanguard Total Bond Market ETF | 0.46% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 1.67% |
Correlation
The correlation between PFFV and BND is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020 | 0.36 |
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Return for Risk
PFFV vs. BND — Risk / Return Rank
PFFV
BND
PFFV vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Variable Rate Preferred ETF (PFFV) and Vanguard Total Bond Market ETF (BND). 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.
| PFFV | BND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.32 | 1.38 | -0.06 |
Sortino ratioReturn per unit of downside risk | 1.96 | 2.07 | -0.11 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.24 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.85 | -0.25 |
Martin ratioReturn relative to average drawdown | 4.50 | 5.66 | -1.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PFFV | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 1.38 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.03 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.59 | -0.03 |
Drawdowns
PFFV vs. BND - Drawdown Comparison
The maximum PFFV drawdown since its inception was -18.96%, roughly equal to the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for PFFV and BND.
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Drawdown Indicators
| PFFV | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.96% | -18.58% | -0.38% |
Max Drawdown (1Y)Largest decline over 1 year | -3.23% | -2.68% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -6.07% | -5.92% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -18.96% | -17.91% | -1.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -0.26% | -2.18% | +1.92% |
Average DrawdownAverage peak-to-trough decline | -4.19% | -3.06% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 0.88% | +0.27% |
Volatility
PFFV vs. BND - Volatility Comparison
The current volatility for Global X Variable Rate Preferred ETF (PFFV) is 0.84%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.26%. This indicates that PFFV experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFFV | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.26% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.84% | 2.68% | +0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 3.78% | +0.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.84% | 6.02% | +2.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 5.53% | +3.16% |
PFFV vs. BND - Expense Ratio Comparison
PFFV has a 0.25% expense ratio, which is higher than BND's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PFFV vs. BND - Dividend Comparison
PFFV's dividend yield for the trailing twelve months is around 8.11%, more than BND's 3.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.96% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
PFFV Global X Variable Rate Preferred ETF | 8.11% | 8.26% | 7.33% | 7.17% | 6.60% | 5.23% | 2.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFFV and BND have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BND has higher volatility (1.26%) compared to PFFV (0.84%). In terms of maximum drawdown, PFFV dropped -18.96% vs BND's -18.58%.
On 5-year performance, PFFV leads with 2.28% vs 0.20% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, PFFV has been the lower-risk option at 0.84%. 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 2.28% return vs 0.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.25% for PFFV.
PFFV has the higher dividend yield at 8.11%, compared with 3.96% for BND.
PFFV is categorized as Preferred Stock/Convertible Bonds, while BND is Total Bond Market. PFFV tracks ICE U.S. Variable Rate Preferred Securities Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.25% for PFFV and 0.03% for BND.
BND currently has the higher Sharpe Ratio (1.38 vs 1.32), 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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