PFLD vs. BAMU

Last updated Jun 23, 2026

PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) and BAMU (Brookstone Ultra-Short Bond ETF) are both exchange-traded funds - PFLD is a Preferred Stock/Convertible Bonds fund tracking the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index, while BAMU is a Ultrashort Bond fund actively managed by Brookstone. PFLD is passively managed, while BAMU is actively managed. Over the past year, PFLD returned 5.71% vs 2.91% for BAMU. At a 0.02 correlation, their price movements are largely independent. PFLD charges 0.45%/yr vs 1.09%/yr for BAMU.

Performance

PFLD vs. BAMU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) and Brookstone Ultra-Short Bond ETF (BAMU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFLD achieves a 2.58% return, which is significantly higher than BAMU's 1.18% return.

PFLD

• 1D: -0.25%
• 1M: 0.43%
• YTD: 2.58%
• 6M: 2.53%
• 1Y: 5.71%
• 3Y*: 5.13%
• 5Y*: 0.91%
• 10Y*: —

BAMU

• 1D: 0.02%
• 1M: 0.16%
• YTD: 1.18%
• 6M: 1.23%
• 1Y: 2.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PFLD vs. BAMU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	2.58%	1.44%	5.48%	3.41%
BAMU Brookstone Ultra-Short Bond ETF	1.18%	3.21%	4.14%	1.20%

Correlation

The correlation between PFLD and BAMU is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Sep 27, 2023	0.02

Return for Risk

PFLD vs. BAMU — Risk / Return Rank

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

PFLD

PFLD Risk / Return Rank: 57
PFLD Sharpe Ratio Rank: 52
PFLD Sortino Ratio Rank: 62
PFLD Omega Ratio Rank: 54
PFLD Calmar Ratio Rank: 53
PFLD Martin Ratio Rank: 64

BAMU

BAMU Risk / Return Rank: 98
BAMU Sharpe Ratio Rank: 98
BAMU Sortino Ratio Rank: 98
BAMU Omega Ratio Rank: 98
BAMU Calmar Ratio Rank: 99
BAMU Martin Ratio Rank: 99

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.

PFLD vs. BAMU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) and Brookstone Ultra-Short Bond ETF (BAMU). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	PFLD	BAMU	Difference
Sharpe ratio: Return per unit of total volatility	1.74	5.01	-3.27
Sortino ratio: Return per unit of downside risk	2.81	8.84	-6.02
Omega ratio: Gain probability vs. loss probability	1.33	2.43	-1.10
Calmar ratio: Return relative to maximum drawdown	2.57	24.72	-22.15
Martin ratio: Return relative to average drawdown	11.41	97.90	-86.49

PFLD vs. BAMU - Sharpe Ratio Comparison

The current PFLD Sharpe Ratio is 1.74, which is lower than the BAMU Sharpe Ratio of 5.01. The chart below compares the historical Sharpe Ratios of PFLD and BAMU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PFLD vs. BAMU - Drawdown Comparison

The maximum PFLD drawdown since its inception was -33.20%, which is greater than BAMU's maximum drawdown of -0.36%. Use the drawdown chart below to compare losses from any high point for PFLD and BAMU.

Drawdown Indicators

	PFLD	BAMU	Difference
Max Drawdown Largest peak-to-trough decline	-33.20%	-0.36%	-32.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.23%	-0.12%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	-6.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.51%	—	—
Current Drawdown Current decline from peak	-0.25%	0.00%	-0.25%
Average Drawdown Average peak-to-trough decline	-4.14%	-0.02%	-4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	0.03%	+0.47%

Volatility

PFLD vs. BAMU - Volatility Comparison

AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) has a higher volatility of 0.76% compared to Brookstone Ultra-Short Bond ETF (BAMU) at 0.09%. This indicates that PFLD's price experiences larger fluctuations and is considered to be riskier than BAMU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFLD	BAMU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	0.09%	+0.67%
Volatility (6M) Calculated over the trailing 6-month period	2.27%	0.40%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	3.30%	0.58%	+2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.51%	0.87%	+6.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.32%	0.87%	+12.45%

PFLD vs. BAMU - Expense Ratio Comparison

PFLD has a 0.45% expense ratio, which is lower than BAMU's 1.09% expense ratio.

Dividends

PFLD vs. BAMU - Dividend Comparison

PFLD's dividend yield for the trailing twelve months is around 5.60%, more than BAMU's 3.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BAMU Brookstone Ultra-Short Bond ETF	3.05%	3.20%	3.97%	0.84%	0.00%	0.00%	0.00%	0.00%
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	5.60%	6.52%	7.09%	7.09%	5.76%	4.52%	4.79%	0.82%

Frequently Asked Questions

Can I hold both PFLD and BAMU in my portfolio?

PFLD and BAMU have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFLD or BAMU?

PFLD has higher volatility (0.76%) compared to BAMU (0.09%). In terms of maximum drawdown, PFLD dropped -33.20% vs BAMU's -0.36%.

Which ETF is better, PFLD or BAMU?

On 1-year performance, PFLD leads with 5.71% vs 2.91% for BAMU. On fees, PFLD is cheaper at 0.45% per year. On volatility, BAMU has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFLD or BAMU?

Over the 1-year period, PFLD has performed better with a 5.71% return vs 2.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFLD or BAMU?

PFLD is cheaper with a 0.45% expense ratio, compared with 1.09% for BAMU.

Which ETF pays a higher dividend yield, PFLD or BAMU?

PFLD has the higher dividend yield at 5.60%, compared with 3.05% for BAMU.

What is the main difference between PFLD and BAMU?

PFLD is categorized as Preferred Stock/Convertible Bonds, while BAMU is Ultrashort Bond. They also come from different issuers: Advisors Asset Management and Brookstone. Their fees differ too: 0.45% for PFLD and 1.09% for BAMU.

Which has better risk-adjusted returns?

BAMU currently has the higher Sharpe Ratio (5.01 vs 1.74), 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.