PGX vs. PFXF
Compare and contrast key facts about Invesco Preferred ETF (PGX) and VanEck Vectors Preferred Securities ex Financials ETF (PFXF).
PGX and PFXF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGX is a passively managed fund by Invesco that tracks the performance of the BofA Merrill Lynch Core Fixed Rate Preferred Securities Index. It was launched on Jan 31, 2008. PFXF is a passively managed fund by VanEck that tracks the performance of the Wells Fargo Hybrid and Preferred Securities ex Financials Index. It was launched on Jul 16, 2012. Both PGX and PFXF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGX or PFXF.
Key characteristics
| PGX | PFXF | |
|---|---|---|
| YTD Return | 11.46% | 11.71% |
| 1Y Return | 19.40% | 19.95% |
| 3Y Return (Ann) | -0.85% | 1.28% |
| 5Y Return (Ann) | 1.53% | 4.35% |
| 10Y Return (Ann) | 3.84% | 4.79% |
| Sharpe Ratio | 2.13 | 2.38 |
| Sortino Ratio | 3.06 | 3.40 |
| Omega Ratio | 1.38 | 1.44 |
| Calmar Ratio | 1.03 | 1.28 |
| Martin Ratio | 10.44 | 12.56 |
| Ulcer Index | 1.94% | 1.63% |
| Daily Std Dev | 9.50% | 8.61% |
| Max Drawdown | -66.43% | -35.49% |
| Current Drawdown | -4.07% | -0.57% |
Correlation
The correlation between PGX and PFXF is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
PGX vs. PFXF - Performance Comparison
The year-to-date returns for both investments are quite close, with PGX having a 11.46% return and PFXF slightly higher at 11.71%. Over the past 10 years, PGX has underperformed PFXF with an annualized return of 3.84%, while PFXF has yielded a comparatively higher 4.79% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PGX vs. PFXF - Expense Ratio Comparison
PGX has a 0.52% expense ratio, which is higher than PFXF's 0.41% expense ratio.
Risk-Adjusted Performance
PGX vs. PFXF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Preferred ETF (PGX) and VanEck Vectors Preferred Securities ex Financials ETF (PFXF). 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.
Dividends
PGX vs. PFXF - Dividend Comparison
PGX's dividend yield for the trailing twelve months is around 5.77%, less than PFXF's 6.81% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGX Invesco Preferred ETF | 5.77% | 6.42% | 6.29% | 4.82% | 4.89% | 5.30% | 6.08% | 5.66% | 6.02% | 5.84% | 5.98% | 6.78% |
PFXF VanEck Vectors Preferred Securities ex Financials ETF | 6.81% | 7.89% | 6.74% | 4.67% | 5.19% | 5.35% | 6.57% | 5.93% | 5.81% | 5.98% | 5.92% | 6.50% |
Drawdowns
PGX vs. PFXF - Drawdown Comparison
The maximum PGX drawdown since its inception was -66.43%, which is greater than PFXF's maximum drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for PGX and PFXF. For additional features, visit the drawdowns tool.
Volatility
PGX vs. PFXF - Volatility Comparison
Invesco Preferred ETF (PGX) has a higher volatility of 3.32% compared to VanEck Vectors Preferred Securities ex Financials ETF (PFXF) at 2.89%. This indicates that PGX's price experiences larger fluctuations and is considered to be riskier than PFXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.