PFLD vs. BESF

Last updated Jun 24, 2026

PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) and BESF (Bastion Energy 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 BESF is a Energy Equities fund actively managed by Bastion. PFLD is passively managed, while BESF is actively managed. Over the past year, PFLD returned 5.44% vs 61.61% for BESF. At a correlation of -0.05, they often move in opposite directions. PFLD charges 0.45%/yr vs 0.80%/yr for BESF.

Performance

PFLD vs. BESF - 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 Bastion Energy ETF (BESF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFLD achieves a 2.84% return, which is significantly lower than BESF's 16.12% return.

PFLD

• 1D: 0.25%
• 1M: 0.69%
• YTD: 2.84%
• 6M: 2.85%
• 1Y: 5.44%
• 3Y*: 5.22%
• 5Y*: 0.95%
• 10Y*: —

BESF

• 1D: 1.01%
• 1M: -6.28%
• YTD: 16.12%
• 6M: 15.17%
• 1Y: 61.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PFLD vs. BESF - Yearly Performance Comparison

	2026 (YTD)	2025
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	2.84%	3.47%
BESF Bastion Energy ETF	16.12%	38.76%

Correlation

The correlation between PFLD and BESF is -0.04, 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	-0.04
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	-0.05

Return for Risk

PFLD vs. BESF — 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

BESF

BESF Risk / Return Rank: 84
BESF Sharpe Ratio Rank: 86
BESF Sortino Ratio Rank: 83
BESF Omega Ratio Rank: 77
BESF Calmar Ratio Rank: 92
BESF Martin Ratio Rank: 83

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. BESF - 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 Bastion Energy ETF (BESF). 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	BESF	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.52	-0.85
Sortino ratio: Return per unit of downside risk	2.69	3.34	-0.66
Omega ratio: Gain probability vs. loss probability	1.31	1.41	-0.10
Calmar ratio: Return relative to maximum drawdown	2.45	5.64	-3.20
Martin ratio: Return relative to average drawdown	10.87	15.57	-4.70

PFLD vs. BESF - Sharpe Ratio Comparison

The current PFLD Sharpe Ratio is 1.67, which is lower than the BESF Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of PFLD and BESF, 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. BESF - Drawdown Comparison

The maximum PFLD drawdown since its inception was -33.20%, which is greater than BESF's maximum drawdown of -10.97%. Use the drawdown chart below to compare losses from any high point for PFLD and BESF.

Drawdown Indicators

	PFLD	BESF	Difference
Max Drawdown Largest peak-to-trough decline	-33.20%	-10.97%	-22.23%
Max Drawdown (1Y) Largest decline over 1 year	-2.23%	-10.97%	+8.74%
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	0.00%	-8.73%	+8.73%
Average Drawdown Average peak-to-trough decline	-4.14%	-2.74%	-1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.50%	3.97%	-3.47%

Volatility

PFLD vs. BESF - Volatility Comparison

The current volatility for AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) is 0.79%, while Bastion Energy ETF (BESF) has a volatility of 6.97%. This indicates that PFLD experiences smaller price fluctuations and is considered to be less risky than BESF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFLD	BESF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	6.97%	-6.18%
Volatility (6M) Calculated over the trailing 6-month period	2.27%	14.93%	-12.66%
Volatility (1Y) Calculated over the trailing 1-year period	3.31%	24.75%	-21.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.51%	24.39%	-16.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.32%	24.39%	-11.07%

PFLD vs. BESF - Expense Ratio Comparison

PFLD has a 0.45% expense ratio, which is lower than BESF's 0.80% expense ratio.

Dividends

PFLD vs. BESF - Dividend Comparison

PFLD's dividend yield for the trailing twelve months is around 5.59%, less than BESF's 5.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BESF Bastion Energy ETF	5.86%	6.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	5.59%	6.52%	7.09%	7.09%	5.76%	4.52%	4.79%	0.82%

Frequently Asked Questions

Can I hold both PFLD and BESF in my portfolio?

PFLD and BESF have a correlation of -0.04, 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 BESF?

BESF has higher volatility (6.97%) compared to PFLD (0.79%). In terms of maximum drawdown, PFLD dropped -33.20% vs BESF's -10.97%.

Which ETF is better, PFLD or BESF?

On 1-year performance, BESF leads with 61.61% vs 5.44% for PFLD. On fees, PFLD is cheaper at 0.45% per year. On volatility, PFLD has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PFLD or BESF?

Over the 1-year period, BESF has performed better with a 61.61% return vs 5.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PFLD or BESF?

PFLD is cheaper with a 0.45% expense ratio, compared with 0.80% for BESF.

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

BESF has the higher dividend yield at 5.86%, compared with 5.59% for PFLD.

What is the main difference between PFLD and BESF?

PFLD is categorized as Preferred Stock/Convertible Bonds, while BESF is Energy Equities. They also come from different issuers: Advisors Asset Management and Bastion. Their fees differ too: 0.45% for PFLD and 0.80% for BESF.

Which has better risk-adjusted returns?

BESF currently has the higher Sharpe Ratio (2.52 vs 1.67), 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.