PGF vs. IPPP

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Financial Preferred ETF (PGF) and Preferred-Plus ETF (IPPP).

PGF and IPPP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGF is a passively managed fund by Invesco that tracks the performance of the Wachovia Hybrid & Preferred Securities Financial Index. It was launched on Dec 1, 2006. IPPP is an actively managed fund by Innovative Portfolios. It was launched on Dec 24, 2018.

Performance

PGF vs. IPPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Financial Preferred ETF (PGF) and Preferred-Plus ETF (IPPP). The values are adjusted to include any dividend payments, if applicable.

PGF vs. IPPP - Yearly Performance Comparison

	2026 (YTD)
PGF Invesco Financial Preferred ETF	-2.63%
IPPP Preferred-Plus ETF	0.00%

Returns By Period

PGF

• 1D: 0.16%
• 1M: -3.40%
• YTD: -1.24%
• 6M: -2.95%
• 1Y: 2.50%
• 3Y*: 4.48%
• 5Y*: -0.61%
• 10Y*: 2.53%

IPPP

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PGF vs. IPPP - Expense Ratio Comparison

PGF has a 0.62% expense ratio, which is lower than IPPP's 1.27% expense ratio.

IPPP

Preferred-Plus ETF

PGF

Invesco Financial Preferred ETF

Return for Risk

PGF vs. IPPP — Risk / Return Rank

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

PGF

PGF Risk / Return Rank: 20
PGF Sharpe Ratio Rank: 22
PGF Sortino Ratio Rank: 20
PGF Omega Ratio Rank: 19
PGF Calmar Ratio Rank: 21
PGF Martin Ratio Rank: 19

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.

PGF vs. IPPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Financial Preferred ETF (PGF) and Preferred-Plus ETF (IPPP). 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.

	PGF	IPPP	Difference
Sharpe ratio Return per unit of total volatility	0.33	—	—
Sortino ratio Return per unit of downside risk	0.50	—	—
Omega ratio Gain probability vs. loss probability	1.06	—	—
Calmar ratio Return relative to maximum drawdown	0.41	—	—
Martin ratio Return relative to average drawdown	0.93	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PGF	IPPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.33	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	—	—

Dividends

PGF vs. IPPP - Dividend Comparison

PGF's dividend yield for the trailing twelve months is around 6.39%, while IPPP has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGF Invesco Financial Preferred ETF	6.39%	6.30%	6.24%	6.15%	5.95%	4.68%	4.91%	5.14%	5.73%	5.32%	5.92%	5.68%
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

PGF vs. IPPP - Drawdown Comparison

The maximum PGF drawdown since its inception was -75.69%, which is greater than IPPP's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PGF and IPPP.

Drawdown Indicators

	PGF	IPPP	Difference
Max Drawdown Largest peak-to-trough decline	-75.69%	0.00%	-75.69%
Max Drawdown (1Y) Largest decline over 1 year	-4.69%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.41%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.92%	—	—
Current Drawdown Current decline from peak	-6.26%	0.00%	-6.26%
Average Drawdown Average peak-to-trough decline	-7.03%	0.00%	-7.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	—	—

Volatility

Volatility by Period

	PGF	IPPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.69%	0.00%	+7.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.35%	0.00%	+11.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.99%	0.00%	+11.99%