PGF vs. PFF
PGF (Invesco Financial Preferred ETF) and PFF (iShares Preferred and Income Securities ETF) are both Preferred Stock/Convertible Bonds funds - PGF tracks the Wachovia Hybrid & Preferred Securities Financial Index while PFF tracks the ICE Exchange-Listed Preferred & Hybrid Securities Index. Both are passively managed. Over the past 10 years, PGF returned 2.30%/yr vs 3.23%/yr for PFF. A 0.80 correlation means they provide meaningful diversification when combined. PGF charges 0.62%/yr vs 0.46%/yr for PFF.
Performance
PGF vs. PFF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, PGF achieves a -0.33% return, which is significantly lower than PFF's 1.64% return. Over the past 10 years, PGF has underperformed PFF with an annualized return of 2.30%, while PFF has yielded a comparatively higher 3.23% annualized return.
PGF
- 1D
- -0.78%
- 1M
- -0.02%
- YTD
- -0.33%
- 6M
- -0.47%
- 1Y
- 3.72%
- 3Y*
- 4.91%
- 5Y*
- -0.98%
- 10Y*
- 2.30%
PFF
- 1D
- -1.25%
- 1M
- -0.85%
- YTD
- 1.64%
- 6M
- 1.02%
- 1Y
- 7.50%
- 3Y*
- 6.76%
- 5Y*
- 1.08%
- 10Y*
- 3.23%
PGF vs. PFF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PGF Invesco Financial Preferred ETF | -0.33% | 3.40% | 6.01% | 7.73% | -19.22% | 2.65% | 7.23% | 14.55% | -2.82% | 10.82% |
PFF iShares Preferred and Income Securities ETF | 1.64% | 4.87% | 7.24% | 9.22% | -18.19% | 7.15% | 7.89% | 15.93% | -4.64% | 8.10% |
Correlation
The correlation between PGF and PFF is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2007 | 0.80 |
The correlation between PGF and PFF shifts across timeframes, from 0.80 (all time) to 0.90 (5 years), reflecting how their relationship changes across market environments.
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
PGF vs. PFF — Risk / Return Rank
PGF
PFF
PGF vs. PFF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Financial Preferred ETF (PGF) and iShares Preferred and Income Securities ETF (PFF). 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.
| PGF | PFF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.48 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.18 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 1.43 | -0.63 |
| Martin ratioReturn relative to average drawdown | 1.59 | 4.32 | -2.73 |
Loading charts...
Drawdowns
PGF vs. PFF - Drawdown Comparison
The maximum PGF drawdown since its inception was -75.69%, which is greater than PFF's maximum drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for PGF and PFF.
Loading charts...
Drawdown Indicators
| PGF | PFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.69% | -65.55% | -10.14% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -5.28% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -10.87% | -10.63% | -0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -23.41% | -21.05% | -2.36% |
Max Drawdown (10Y)Largest decline over 10 years | -28.92% | -34.10% | +5.18% |
Current DrawdownCurrent decline from peak | -5.39% | -2.35% | -3.04% |
Average DrawdownAverage peak-to-trough decline | -7.00% | -5.75% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 1.74% | +0.60% |
Volatility
PGF vs. PFF - Volatility Comparison
The current volatility for Invesco Financial Preferred ETF (PGF) is 1.48%, while iShares Preferred and Income Securities ETF (PFF) has a volatility of 2.42%. This indicates that PGF experiences smaller price fluctuations and is considered to be less risky than PFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PGF | PFF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 2.42% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 5.43% | -1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.30% | 7.04% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.38% | 10.35% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.01% | 12.68% | -0.67% |
PGF vs. PFF - Expense Ratio Comparison
PGF has a 0.62% expense ratio, which is higher than PFF's 0.46% expense ratio.
Dividends
PGF vs. PFF - Dividend Comparison
PGF's dividend yield for the trailing twelve months is around 6.91%, more than PFF's 5.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFF iShares Preferred and Income Securities ETF | 5.54% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
PGF Invesco Financial Preferred ETF | 6.91% | 6.30% | 6.24% | 6.15% | 5.95% | 4.68% | 4.91% | 5.14% | 5.73% | 5.32% | 5.92% | 5.68% |
Frequently Asked Questions
PGF and PFF have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFF has higher volatility (2.42%) compared to PGF (1.48%). In terms of maximum drawdown, PGF dropped -75.69% vs PFF's -65.55%.
On 10-year performance, PFF leads with 3.23% vs 2.30% for PGF. On fees, PFF is cheaper at 0.46% per year. On volatility, PGF has been the lower-risk option at 1.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PFF has performed better with a 3.23% return vs 2.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFF is cheaper with a 0.46% expense ratio, compared with 0.62% for PGF.
PGF has the higher dividend yield at 6.91%, compared with 5.54% for PFF.
PGF tracks Wachovia Hybrid & Preferred Securities Financial Index, while PFF tracks ICE Exchange-Listed Preferred & Hybrid Securities Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.62% for PGF and 0.46% for PFF.
PFF currently has the higher Sharpe Ratio (1.07 vs 0.59), 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 PGF and PFF
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