PFLD vs. PFFA
PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) and PFFA (Virtus InfraCap U.S. Preferred Stock ETF) are both Preferred Stock/Convertible Bonds funds. PFLD is passively managed, while PFFA is actively managed. Over the past 5 years, PFLD returned 0.97%/yr vs 5.82%/yr for PFFA. A 0.64 correlation means they provide meaningful diversification when combined. PFLD charges 0.45%/yr vs 1.47%/yr for PFFA.
Performance
PFLD vs. PFFA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PFLD achieves a 2.61% return, which is significantly higher than PFFA's 1.00% return.
PFLD
- 1D
- -0.23%
- 1M
- 0.46%
- YTD
- 2.61%
- 6M
- 2.51%
- 1Y
- 5.20%
- 3Y*
- 5.14%
- 5Y*
- 0.97%
- 10Y*
- —
PFFA
- 1D
- -1.24%
- 1M
- -1.47%
- YTD
- 1.00%
- 6M
- 0.67%
- 1Y
- 9.52%
- 3Y*
- 13.63%
- 5Y*
- 5.82%
- 10Y*
- —
PFLD vs. PFFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PFLD AAM Low Duration Preferred and Income Securities ETF 144A | 2.61% | 1.44% | 5.48% | 8.16% | -12.73% | 4.49% | 5.34% | 0.86% |
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 1.00% | 8.22% | 16.11% | 26.45% | -20.91% | 23.53% | -7.87% | 2.18% |
Correlation
The correlation between PFLD and PFFA is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2019 | 0.64 |
Over the past year, the correlation between PFLD and PFFA has dropped to 0.37 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PFLD vs. PFFA — Risk / Return Rank
PFLD
PFFA
PFLD vs. PFFA - 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 Virtus InfraCap U.S. Preferred Stock ETF (PFFA). 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 | PFFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.24 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.47 | +0.86 |
| Martin ratioReturn relative to average drawdown | 10.39 | 4.84 | +5.55 |
Loading charts...
Drawdowns
PFLD vs. PFFA - Drawdown Comparison
The maximum PFLD drawdown since its inception was -33.20%, smaller than the maximum PFFA drawdown of -70.52%. Use the drawdown chart below to compare losses from any high point for PFLD and PFFA.
Loading charts...
Drawdown Indicators
| PFLD | PFFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.20% | -70.52% | +37.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -6.49% | +4.26% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -12.15% | +5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -15.51% | -22.70% | +7.19% |
Current DrawdownCurrent decline from peak | -0.23% | -3.49% | +3.26% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -6.62% | +2.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 1.97% | -1.47% |
Volatility
PFLD vs. PFFA - Volatility Comparison
The current volatility for AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) is 0.82%, while Virtus InfraCap U.S. Preferred Stock ETF (PFFA) has a volatility of 2.45%. This indicates that PFLD experiences smaller price fluctuations and is considered to be less risky than PFFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PFLD | PFFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 2.45% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 6.04% | -3.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 7.27% | -3.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 11.55% | -4.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.32% | 31.74% | -18.42% |
PFLD vs. PFFA - Expense Ratio Comparison
PFLD has a 0.45% expense ratio, which is lower than PFFA's 1.47% expense ratio.
Dividends
PFLD vs. PFFA - Dividend Comparison
PFLD's dividend yield for the trailing twelve months is around 5.60%, less than PFFA's 9.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 9.91% | 9.47% | 9.18% | 9.56% | 10.75% | 7.64% | 8.54% | 10.02% | 5.15% |
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% | 0.00% |
Frequently Asked Questions
PFLD and PFFA have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFFA has higher volatility (2.45%) compared to PFLD (0.82%). In terms of maximum drawdown, PFLD dropped -33.20% vs PFFA's -70.52%.
On 5-year performance, PFFA leads with 5.82% vs 0.97% for PFLD. On fees, PFLD is cheaper at 0.45% per year. On volatility, PFLD has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFFA has performed better with a 5.82% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFLD is cheaper with a 0.45% expense ratio, compared with 1.47% for PFFA.
PFFA has the higher dividend yield at 9.91%, compared with 5.60% for PFLD.
They also come from different issuers: Advisors Asset Management and Virtus Investment Partners. Their fees differ too: 0.45% for PFLD and 1.47% for PFFA.
PFLD currently has the higher Sharpe Ratio (1.59 vs 1.32), 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.
Find the right allocation for PFLD and PFFA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer