PFLD vs. SPDV
PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) and SPDV (AAM S&P 500 High Dividend Value 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 SPDV is a Dividend fund tracking the S&P 500 Dividend and Free Cash Flow Yield Index. Both are passively managed. Over the past 5 years, PFLD returned 0.96%/yr vs 9.04%/yr for SPDV. At a 0.41 correlation, their price movements are largely independent. PFLD charges 0.45%/yr vs 0.29%/yr for SPDV.
Performance
PFLD vs. SPDV - Performance Comparison
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Returns By Period
In the year-to-date period, PFLD achieves a 2.53% return, which is significantly lower than SPDV's 14.44% return.
PFLD
- 1D
- -0.08%
- 1M
- 0.28%
- YTD
- 2.53%
- 6M
- 2.43%
- 1Y
- 4.86%
- 3Y*
- 4.94%
- 5Y*
- 0.96%
- 10Y*
- —
SPDV
- 1D
- 1.06%
- 1M
- 0.33%
- YTD
- 14.44%
- 6M
- 13.65%
- 1Y
- 26.76%
- 3Y*
- 16.31%
- 5Y*
- 9.04%
- 10Y*
- —
PFLD vs. SPDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PFLD AAM Low Duration Preferred and Income Securities ETF 144A | 2.53% | 1.44% | 5.48% | 8.16% | -12.73% | 4.49% | 5.34% | 0.86% |
SPDV AAM S&P 500 High Dividend Value ETF | 14.44% | 10.90% | 14.40% | 5.45% | -2.27% | 29.54% | -6.09% | 1.61% |
Correlation
The correlation between PFLD and SPDV is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2019 | 0.41 |
The correlation between PFLD and SPDV shifts across timeframes, from 0.24 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PFLD vs. SPDV — Risk / Return Rank
PFLD
SPDV
PFLD vs. SPDV - 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 AAM S&P 500 High Dividend Value ETF (SPDV). 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 | SPDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.39 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 4.64 | -2.45 |
| Martin ratioReturn relative to average drawdown | 10.01 | 13.09 | -3.08 |
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Drawdowns
PFLD vs. SPDV - Drawdown Comparison
The maximum PFLD drawdown since its inception was -33.20%, smaller than the maximum SPDV drawdown of -43.81%. Use the drawdown chart below to compare losses from any high point for PFLD and SPDV.
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Drawdown Indicators
| PFLD | SPDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.20% | -43.81% | +10.61% |
Max Drawdown (1Y)Largest decline over 1 year | -2.23% | -5.80% | +3.57% |
Max Drawdown (3Y)Largest decline over 3 years | -6.41% | -18.62% | +12.21% |
Max Drawdown (5Y)Largest decline over 5 years | -15.51% | -21.31% | +5.80% |
Current DrawdownCurrent decline from peak | -0.30% | -1.39% | +1.09% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -6.53% | +2.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.50% | 2.05% | -1.55% |
Volatility
PFLD vs. SPDV - Volatility Comparison
The current volatility for AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) is 0.82%, while AAM S&P 500 High Dividend Value ETF (SPDV) has a volatility of 3.32%. This indicates that PFLD experiences smaller price fluctuations and is considered to be less risky than SPDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFLD | SPDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 3.32% | -2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 8.38% | -6.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.28% | 12.34% | -9.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 16.25% | -8.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.31% | 20.27% | -6.96% |
PFLD vs. SPDV - Expense Ratio Comparison
PFLD has a 0.45% expense ratio, which is higher than SPDV's 0.29% expense ratio.
Dividends
PFLD vs. SPDV - Dividend Comparison
PFLD's dividend yield for the trailing twelve months is around 5.61%, more than SPDV's 3.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PFLD AAM Low Duration Preferred and Income Securities ETF 144A | 5.61% | 6.52% | 7.09% | 7.09% | 5.76% | 4.52% | 4.79% | 0.82% | 0.00% | 0.00% |
SPDV AAM S&P 500 High Dividend Value ETF | 3.31% | 3.85% | 3.54% | 3.95% | 3.73% | 3.08% | 3.90% | 3.54% | 3.63% | 0.28% |
Frequently Asked Questions
PFLD and SPDV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPDV has higher volatility (3.32%) compared to PFLD (0.82%). In terms of maximum drawdown, PFLD dropped -33.20% vs SPDV's -43.81%.
On 5-year performance, SPDV leads with 9.04% vs 0.96% for PFLD. On fees, SPDV is cheaper at 0.29% 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, SPDV has performed better with a 9.04% return vs 0.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPDV is cheaper with a 0.29% expense ratio, compared with 0.45% for PFLD.
PFLD has the higher dividend yield at 5.61%, compared with 3.31% for SPDV.
PFLD is categorized as Preferred Stock/Convertible Bonds, while SPDV is Dividend. PFLD tracks ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index, while SPDV tracks S&P 500 Dividend and Free Cash Flow Yield Index. Their fees differ too: 0.45% for PFLD and 0.29% for SPDV.
SPDV currently has the higher Sharpe Ratio (2.19 vs 1.49), 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.
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