PFXF vs. USFR
PFXF (VanEck Vectors Preferred Securities ex Financials ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - PFXF is a Preferred Stock/Convertible Bonds fund tracking the Wells Fargo Hybrid and Preferred Securities ex Financials Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 10 years, PFXF returned 5.01%/yr vs 2.43%/yr for USFR. At a correlation of -0.01, they often move in opposite directions. PFXF charges 0.41%/yr vs 0.15%/yr for USFR.
Performance
PFXF vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, PFXF achieves a 4.20% return, which is significantly higher than USFR's 1.82% return. Over the past 10 years, PFXF has outperformed USFR with an annualized return of 5.01%, while USFR has yielded a comparatively lower 2.43% annualized return.
PFXF
- 1D
- -0.99%
- 1M
- -2.14%
- YTD
- 4.20%
- 6M
- 3.47%
- 1Y
- 13.02%
- 3Y*
- 9.04%
- 5Y*
- 3.56%
- 10Y*
- 5.01%
USFR
- 1D
- 0.00%
- 1M
- 0.33%
- YTD
- 1.82%
- 6M
- 1.92%
- 1Y
- 3.99%
- 3Y*
- 4.74%
- 5Y*
- 3.72%
- 10Y*
- 2.43%
PFXF vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFXF VanEck Vectors Preferred Securities ex Financials ETF | 4.20% | 9.64% | 8.42% | 11.20% | -18.83% | 11.61% | 7.61% | 20.52% | -4.17% | 7.93% |
USFR WisdomTree Floating Rate Treasury Fund | 1.82% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 1.03% |
Correlation
The correlation between PFXF and USFR is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | -0.01 |
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Return for Risk
PFXF vs. USFR — Risk / Return Rank
PFXF
USFR
PFXF vs. USFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Preferred Securities ex Financials ETF (PFXF) and WisdomTree Floating Rate Treasury Fund (USFR). 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.
| PFXF | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.29 | ||
| Sortino ratioReturn per unit of downside risk | -48.13 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 13.31 | -12.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 201.33 | -199.09 |
| Martin ratioReturn relative to average drawdown | 7.30 | 779.76 | -772.47 |
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Drawdowns
PFXF vs. USFR - Drawdown Comparison
The maximum PFXF drawdown since its inception was -35.49%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for PFXF and USFR.
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Drawdown Indicators
| PFXF | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.49% | -1.36% | -34.13% |
Max Drawdown (1Y)Largest decline over 1 year | -5.83% | -0.02% | -5.81% |
Max Drawdown (3Y)Largest decline over 3 years | -11.90% | -0.06% | -11.84% |
Max Drawdown (5Y)Largest decline over 5 years | -21.80% | -0.18% | -21.62% |
Max Drawdown (10Y)Largest decline over 10 years | -35.49% | -0.80% | -34.69% |
Current DrawdownCurrent decline from peak | -4.91% | 0.00% | -4.91% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -0.15% | -3.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 0.01% | +1.78% |
Volatility
PFXF vs. USFR - Volatility Comparison
VanEck Vectors Preferred Securities ex Financials ETF (PFXF) has a higher volatility of 3.82% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.09%. This indicates that PFXF's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFXF | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 0.09% | +3.73% |
Volatility (6M)Calculated over the trailing 6-month period | 7.38% | 0.19% | +7.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.47% | 0.27% | +9.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.01% | 0.40% | +10.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.25% | 0.78% | +12.47% |
PFXF vs. USFR - Expense Ratio Comparison
PFXF has a 0.41% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
PFXF vs. USFR - Dividend Comparison
PFXF's dividend yield for the trailing twelve months is around 6.34%, more than USFR's 3.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFXF VanEck Vectors Preferred Securities ex Financials ETF | 6.34% | 6.72% | 7.82% | 7.88% | 6.74% | 4.66% | 5.19% | 5.35% | 6.56% | 5.93% | 5.81% | 5.99% |
USFR WisdomTree Floating Rate Treasury Fund | 3.90% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% | 0.00% |
Frequently Asked Questions
PFXF and USFR have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFXF has higher volatility (3.82%) compared to USFR (0.09%). In terms of maximum drawdown, PFXF dropped -35.49% vs USFR's -1.36%.
On 10-year performance, PFXF leads with 5.01% vs 2.43% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PFXF has performed better with a 5.01% return vs 2.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.41% for PFXF.
PFXF has the higher dividend yield at 6.34%, compared with 3.90% for USFR.
PFXF is categorized as Preferred Stock/Convertible Bonds, while USFR is Government Bonds. PFXF tracks Wells Fargo Hybrid and Preferred Securities ex Financials Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: VanEck and WisdomTree. Their fees differ too: 0.41% for PFXF and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (14.67 vs 1.38), 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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