PQDI vs. KPRO

Last updated Jul 12, 2026

PQDI (Principal Spectrum Preferred and Income ETF) and KPRO (KraneShares 100% KWEB Defined Outcome January 2026 ETF) are both exchange-traded funds - PQDI is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA 7% Constrained DRD Eligible Preferred Securities Index, while KPRO is a Options Trading fund actively managed by KraneShares. PQDI is passively managed, while KPRO is actively managed. Over the past year, PQDI returned 5.87% vs -3.69% for KPRO. At a 0.28 correlation, their price movements are largely independent. PQDI charges 0.60%/yr vs 0.95%/yr for KPRO.

Performance

PQDI vs. KPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Spectrum Preferred and Income ETF (PQDI) and KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQDI achieves a 1.86% return, which is significantly higher than KPRO's -5.10% return.

PQDI

• 1D: 0.03%
• 1M: 0.50%
• 6M: 1.25%
• YTD: 1.86%
• 1Y: 5.87%
• 3Y*: 9.04%
• 5Y*: 3.17%
• 10Y*: —

KPRO

• 1D: -0.04%
• 1M: -0.00%
• 6M: -5.98%
• YTD: -5.10%
• 1Y: -3.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PQDI vs. KPRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PQDI Principal Spectrum Preferred and Income ETF	1.86%	8.46%	8.92%
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF	-5.10%	7.79%	11.98%

Correlation

The correlation between PQDI and KPRO is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024	0.28

Return for Risk

PQDI vs. KPRO — Risk / Return Rank

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

PQDI

PQDI Risk / Return Rank: 64
PQDI Sharpe Ratio Rank: 69
PQDI Sortino Ratio Rank: 71
PQDI Omega Ratio Rank: 79
PQDI Calmar Ratio Rank: 43
PQDI Martin Ratio Rank: 56

KPRO

KPRO Risk / Return Rank: 6
KPRO Sharpe Ratio Rank: 6
KPRO Sortino Ratio Rank: 6
KPRO Omega Ratio Rank: 5
KPRO Calmar Ratio Rank: 7
KPRO Martin Ratio Rank: 7

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.

PQDI vs. KPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Spectrum Preferred and Income ETF (PQDI) and KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO). 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.

	PQDI	KPRO	Difference
Sharpe ratio: Return per unit of total volatility	1.77	-0.42	+2.19
Sortino ratio: Return per unit of downside risk	2.59	-0.46	+3.05
Omega ratio: Gain probability vs. loss probability	1.37	0.92	+0.45
Calmar ratio: Return relative to maximum drawdown	1.76	-0.28	+2.04
Martin ratio: Return relative to average drawdown	7.74	-0.52	+8.27

PQDI vs. KPRO - Sharpe Ratio Comparison

The current PQDI Sharpe Ratio is 1.77, which is higher than the KPRO Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of PQDI and KPRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PQDI vs. KPRO - Drawdown Comparison

The maximum PQDI drawdown since its inception was -17.41%, which is greater than KPRO's maximum drawdown of -13.34%. Use the drawdown chart below to compare losses from any high point for PQDI and KPRO.

Drawdown Indicators

	PQDI	KPRO	Difference
Max Drawdown Largest peak-to-trough decline	-17.41%	-13.34%	-4.07%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-13.34%	+10.03%
Max Drawdown (3Y) Largest decline over 3 years	-3.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.41%	—	—
Current Drawdown Current decline from peak	-0.39%	-11.90%	+11.51%
Average Drawdown Average peak-to-trough decline	-3.45%	-2.81%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	7.17%	-6.42%

Volatility

PQDI vs. KPRO - Volatility Comparison

The current volatility for Principal Spectrum Preferred and Income ETF (PQDI) is 0.83%, while KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) has a volatility of 1.23%. This indicates that PQDI experiences smaller price fluctuations and is considered to be less risky than KPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQDI	KPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	1.23%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	2.91%	4.75%	-1.84%
Volatility (1Y) Calculated over the trailing 1-year period	3.28%	8.84%	-5.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.70%	7.72%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.53%	7.72%	-3.19%

PQDI vs. KPRO - Expense Ratio Comparison

PQDI has a 0.60% expense ratio, which is lower than KPRO's 0.95% expense ratio.

Dividends

PQDI vs. KPRO - Dividend Comparison

PQDI's dividend yield for the trailing twelve months is around 5.57%, more than KPRO's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF	2.79%	2.65%	3.70%	0.00%	0.00%	0.00%	0.00%
PQDI Principal Spectrum Preferred and Income ETF	5.57%	5.02%	4.93%	5.35%	5.60%	5.21%	2.69%

Frequently Asked Questions

Can I hold both PQDI and KPRO in my portfolio?

PQDI and KPRO have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQDI or KPRO?

KPRO has higher volatility (1.23%) compared to PQDI (0.83%). In terms of maximum drawdown, PQDI dropped -17.41% vs KPRO's -13.34%.

Which ETF is better, PQDI or KPRO?

On 1-year performance, PQDI leads with 5.87% vs -3.69% for KPRO. On fees, PQDI is cheaper at 0.60% per year. On volatility, PQDI has been the lower-risk option at 0.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQDI or KPRO?

Over the 1-year period, PQDI has performed better with a 5.87% return vs -3.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQDI or KPRO?

PQDI is cheaper with a 0.60% expense ratio, compared with 0.95% for KPRO.

Which ETF pays a higher dividend yield, PQDI or KPRO?

PQDI has the higher dividend yield at 5.57%, compared with 2.79% for KPRO.

What is the main difference between PQDI and KPRO?

PQDI is categorized as Preferred Stock/Convertible Bonds, while KPRO is Options Trading. They also come from different issuers: Principal and KraneShares. Their fees differ too: 0.60% for PQDI and 0.95% for KPRO.

Which has better risk-adjusted returns?

PQDI currently has the higher Sharpe Ratio (1.77 vs -0.42), 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.