PFFV vs. IPPP

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Variable Rate Preferred ETF (PFFV) and Preferred-Plus ETF (IPPP).

PFFV and IPPP 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. IPPP is an actively managed fund by Innovative Portfolios. It was launched on Dec 24, 2018.

Performance

PFFV vs. IPPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Variable Rate Preferred ETF (PFFV) and Preferred-Plus ETF (IPPP). The values are adjusted to include any dividend payments, if applicable.

PFFV vs. IPPP - Yearly Performance Comparison

	2026 (YTD)
PFFV Global X Variable Rate Preferred ETF	-2.44%
IPPP Preferred-Plus ETF	0.00%

Returns By Period

PFFV

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

IPPP

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PFFV vs. IPPP - Expense Ratio Comparison

PFFV has a 0.25% expense ratio, which is lower than IPPP's 1.27% expense ratio.

IPPP

Preferred-Plus ETF

PFFV

Global X Variable Rate Preferred ETF

Return for Risk

PFFV vs. IPPP — 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

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. IPPP - Risk-Adjusted Trends Comparison

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

Sharpe Ratios by Period

	PFFV	IPPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	—	—

Dividends

PFFV vs. IPPP - Dividend Comparison

PFFV's dividend yield for the trailing twelve months is around 8.35%, while IPPP has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020
PFFV Global X Variable Rate Preferred ETF	8.35%	8.26%	7.33%	7.17%	6.60%	5.23%	2.29%
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PFFV vs. IPPP - Drawdown Comparison

The maximum PFFV drawdown since its inception was -18.96%, which is greater than IPPP's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PFFV and IPPP.

Drawdown Indicators

	PFFV	IPPP	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	0.00%	-18.96%
Max Drawdown (1Y) Largest decline over 1 year	-4.35%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	—	—
Current Drawdown Current decline from peak	-3.23%	0.00%	-3.23%
Average Drawdown Average peak-to-trough decline	-4.29%	0.00%	-4.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	—	—

Volatility

Volatility by Period

	PFFV	IPPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.62%	0.00%	+5.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.85%	0.00%	+8.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.79%	0.00%	+8.79%