PFFV vs. PFFR

Last updated Jun 5, 2026

PFFV (Global X Variable Rate Preferred ETF) and PFFR (InfraCap REIT Preferred ETF) are both Preferred Stock/Convertible Bonds funds - PFFV tracks the ICE U.S. Variable Rate Preferred Securities Index while PFFR tracks the Indxx REIT Preferred Stock Index. Both are passively managed. Over the past 5 years, PFFV returned 2.23%/yr vs 1.03%/yr for PFFR. A 0.58 correlation means they provide meaningful diversification when combined. PFFV charges 0.25%/yr vs 0.45%/yr for PFFR.

Performance

PFFV vs. PFFR - Performance Comparison

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

Returns By Period

In the year-to-date period, PFFV achieves a 2.83% return, which is significantly higher than PFFR's 1.09% return.

PFFV

• 1D: -0.09%
• 1M: 0.32%
• YTD: 2.83%
• 6M: 2.94%
• 1Y: 4.77%
• 3Y*: 7.57%
• 5Y*: 2.23%
• 10Y*: —

PFFR

• 1D: 0.28%
• 1M: -0.76%
• YTD: 1.09%
• 6M: 1.70%
• 1Y: 7.55%
• 3Y*: 9.13%
• 5Y*: 1.03%
• 10Y*: —

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

PFFV vs. PFFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PFFV Global X Variable Rate Preferred ETF	2.83%	2.08%	9.45%	10.64%	-13.81%	6.35%	13.36%
PFFR InfraCap REIT Preferred ETF	1.09%	5.36%	7.12%	21.04%	-23.90%	6.76%	15.61%

Correlation

The correlation between PFFV and PFFR is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020	0.58

The correlation between PFFV and PFFR shifts across timeframes, from 0.46 (3 years) to 0.58 (all time), reflecting how their relationship changes across market environments.

PFFV vs. PFFR - Sectors Allocation Comparison

Sectors	PFFV	PFFR
Financial Services	72.1%	5.3%
Real Estate	19.6%	84.9%
Energy	1.6%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PFFV vs. PFFR — Risk / Return Rank

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

PFFV

PFFV Risk / Return Rank: 32
PFFV Sharpe Ratio Rank: 33
PFFV Sortino Ratio Rank: 33
PFFV Omega Ratio Rank: 32
PFFV Calmar Ratio Rank: 31
PFFV Martin Ratio Rank: 30

PFFR

PFFR Risk / Return Rank: 26
PFFR Sharpe Ratio Rank: 28
PFFR Sortino Ratio Rank: 26
PFFR Omega Ratio Rank: 26
PFFR Calmar Ratio Rank: 25
PFFR Martin Ratio Rank: 22

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. PFFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Variable Rate Preferred ETF (PFFV) and InfraCap REIT Preferred ETF (PFFR). 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	PFFR	Difference
Sharpe ratio: Return per unit of total volatility	1.17	0.96	+0.20
Sortino ratio: Return per unit of downside risk	1.73	1.40	+0.33
Omega ratio: Gain probability vs. loss probability	1.21	1.17	+0.04
Calmar ratio: Return relative to maximum drawdown	1.48	1.15	+0.33
Martin ratio: Return relative to average drawdown	4.15	2.70	+1.46
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. PFFR - Sharpe Ratio Comparison

The current PFFV Sharpe Ratio is 1.17, which is comparable to the PFFR Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of PFFV and PFFR, 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

	PFFV	PFFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	0.96	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.10	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.16	+0.40

Drawdowns

PFFV vs. PFFR - Drawdown Comparison

The maximum PFFV drawdown since its inception was -18.96%, smaller than the maximum PFFR drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for PFFV and PFFR.

Drawdown Indicators

	PFFV	PFFR	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-53.02%	+34.06%
Max Drawdown (1Y) Largest decline over 1 year	-3.23%	-6.57%	+3.34%
Max Drawdown (3Y) Largest decline over 3 years	-6.07%	-11.16%	+5.09%
Max Drawdown (5Y) Largest decline over 5 years	-18.96%	-29.80%	+10.84%
Current Drawdown Current decline from peak	-0.40%	-2.78%	+2.38%
Average Drawdown Average peak-to-trough decline	-4.18%	-7.00%	+2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	2.80%	-1.65%

Volatility

PFFV vs. PFFR - Volatility Comparison

The current volatility for Global X Variable Rate Preferred ETF (PFFV) is 0.80%, while InfraCap REIT Preferred ETF (PFFR) has a volatility of 2.81%. This indicates that PFFV experiences smaller price fluctuations and is considered to be less risky than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFFV	PFFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	2.81%	-2.01%
Volatility (6M) Calculated over the trailing 6-month period	2.84%	6.14%	-3.30%
Volatility (1Y) Calculated over the trailing 1-year period	4.11%	7.87%	-3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.84%	10.47%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.68%	20.53%	-11.85%

PFFV vs. PFFR - Expense Ratio Comparison

PFFV has a 0.25% expense ratio, which is lower than PFFR's 0.45% expense ratio.

Dividends

PFFV vs. PFFR - Dividend Comparison

PFFV's dividend yield for the trailing twelve months is around 8.12%, less than PFFR's 8.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFFR InfraCap REIT Preferred ETF	8.27%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%
PFFV Global X Variable Rate Preferred ETF	8.12%	8.26%	7.33%	7.17%	6.60%	5.23%	2.29%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PFFV and PFFR in my portfolio?

PFFV and PFFR have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFFV or PFFR?

PFFR has higher volatility (2.81%) compared to PFFV (0.80%). In terms of maximum drawdown, PFFV dropped -18.96% vs PFFR's -53.02%.

Which ETF is better, PFFV or PFFR?

On 5-year performance, PFFV leads with 2.23% vs 1.03% for PFFR. On fees, PFFV is cheaper at 0.25% per year. On volatility, PFFV has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFFV or PFFR?

Over the 5-year period, PFFV has performed better with a 2.23% return vs 1.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFFV or PFFR?

PFFV is cheaper with a 0.25% expense ratio, compared with 0.45% for PFFR.

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

PFFR has the higher dividend yield at 8.27%, compared with 8.12% for PFFV.

What is the main difference between PFFV and PFFR?

PFFV tracks ICE U.S. Variable Rate Preferred Securities Index, while PFFR tracks Indxx REIT Preferred Stock Index. They also come from different issuers: Global X and Virtus Investment Partners. Their fees differ too: 0.25% for PFFV and 0.45% for PFFR.

Which has better risk-adjusted returns?

PFFV currently has the higher Sharpe Ratio (1.17 vs 0.96), 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.