PFFV vs. EPRF

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Variable Rate Preferred ETF (PFFV) and Innovator S&P High Quality Preferred ETF (EPRF).

PFFV and EPRF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PFFV is a passively managed fund by Global X that tracks the performance of the ICE U.S. Variable Rate Preferred Securities Index. It was launched on Jun 22, 2020. EPRF is a passively managed fund by Innovator that tracks the performance of the S&P U.S. High Quality Preferred Stock Index. It was launched on May 24, 2016. Both PFFV and EPRF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PFFV vs. EPRF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Variable Rate Preferred ETF (PFFV) and Innovator S&P High Quality Preferred ETF (EPRF). The values are adjusted to include any dividend payments, if applicable.

PFFV vs. EPRF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PFFV Global X Variable Rate Preferred ETF	-0.58%	2.08%	9.45%	10.64%	-13.81%	6.35%	13.36%
EPRF Innovator S&P High Quality Preferred ETF	-4.28%	2.69%	3.46%	9.43%	-20.68%	1.37%	8.58%

Returns By Period

In the year-to-date period, PFFV achieves a -0.58% return, which is significantly higher than EPRF's -4.28% return.

PFFV

• 1D: -0.05%
• 1M: -2.10%
• YTD: -0.58%
• 6M: -1.34%
• 1Y: -0.06%
• 3Y*: 6.19%
• 5Y*: 2.00%
• 10Y*: —

EPRF

• 1D: 0.12%
• 1M: -3.39%
• YTD: -4.28%
• 6M: -6.59%
• 1Y: -0.37%
• 3Y*: 2.18%
• 5Y*: -2.07%
• 10Y*: —

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

PFFV vs. EPRF - Expense Ratio Comparison

PFFV has a 0.25% expense ratio, which is lower than EPRF's 0.47% expense ratio.

EPRF

Innovator S&P High Quality Preferred ETF

PFFV

Global X Variable Rate Preferred ETF

Return for Risk

PFFV vs. EPRF — Risk / Return Rank

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

PFFV

PFFV Risk / Return Rank: 12
PFFV Sharpe Ratio Rank: 12
PFFV Sortino Ratio Rank: 10
PFFV Omega Ratio Rank: 10
PFFV Calmar Ratio Rank: 13
PFFV Martin Ratio Rank: 13

EPRF

EPRF Risk / Return Rank: 10
EPRF Sharpe Ratio Rank: 11
EPRF Sortino Ratio Rank: 10
EPRF Omega Ratio Rank: 10
EPRF Calmar Ratio Rank: 11
EPRF Martin Ratio Rank: 10

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.

PFFV vs. EPRF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Variable Rate Preferred ETF (PFFV) and Innovator S&P High Quality Preferred ETF (EPRF). 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	EPRF	Difference
Sharpe ratio Return per unit of total volatility	-0.01	-0.04	+0.03
Sortino ratio Return per unit of downside risk	0.02	0.00	+0.02
Omega ratio Gain probability vs. loss probability	1.00	1.00	0.00
Calmar ratio Return relative to maximum drawdown	0.04	-0.08	+0.12
Martin ratio Return relative to average drawdown	0.13	-0.20	+0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFFV vs. EPRF - Sharpe Ratio Comparison

The current PFFV Sharpe Ratio is -0.01, which is higher than the EPRF Sharpe Ratio of -0.04. The chart below compares the historical Sharpe Ratios of PFFV and EPRF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PFFV	EPRF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	-0.04	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	-0.18	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.07	+0.43

Correlation

The correlation between PFFV and EPRF is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

PFFV vs. EPRF - Dividend Comparison

PFFV's dividend yield for the trailing twelve months is around 8.35%, more than EPRF's 6.30% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFFV Global X Variable Rate Preferred ETF	8.35%	8.26%	7.33%	7.17%	6.60%	5.23%	2.29%	0.00%	0.00%	0.00%
EPRF Innovator S&P High Quality Preferred ETF	6.30%	6.03%	6.13%	5.71%	5.67%	4.70%	4.92%	5.01%	5.27%	2.59%

Drawdowns

PFFV vs. EPRF - Drawdown Comparison

The maximum PFFV drawdown since its inception was -18.96%, smaller than the maximum EPRF drawdown of -26.82%. Use the drawdown chart below to compare losses from any high point for PFFV and EPRF.

Drawdown Indicators

	PFFV	EPRF	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-26.82%	+7.86%
Max Drawdown (1Y) Largest decline over 1 year	-4.35%	-8.59%	+4.24%
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	-25.23%	+6.27%
Current Drawdown Current decline from peak	-3.23%	-12.78%	+9.55%
Average Drawdown Average peak-to-trough decline	-4.29%	-7.31%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	3.25%	-1.75%

Volatility

PFFV vs. EPRF - Volatility Comparison

The current volatility for Global X Variable Rate Preferred ETF (PFFV) is 1.48%, while Innovator S&P High Quality Preferred ETF (EPRF) has a volatility of 2.42%. This indicates that PFFV experiences smaller price fluctuations and is considered to be less risky than EPRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFFV	EPRF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	2.42%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	5.27%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	5.62%	8.88%	-3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.85%	11.73%	-2.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.79%	13.57%	-4.78%