PQDI vs. PFLD

Last updated Jun 3, 2026

PQDI (Principal Spectrum Preferred and Income ETF) and PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) are both Preferred Stock/Convertible Bonds funds - PQDI tracks the ICE BofA 7% Constrained DRD Eligible Preferred Securities Index while PFLD tracks the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. Both are passively managed. Over the past 5 years, PQDI returned 3.30%/yr vs 1.04%/yr for PFLD. A 0.50 correlation means they provide meaningful diversification when combined. PQDI charges 0.60%/yr vs 0.45%/yr for PFLD.

Performance

PQDI vs. PFLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Spectrum Preferred and Income ETF (PQDI) and AAM Low Duration Preferred and Income Securities ETF 144A (PFLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQDI achieves a 1.32% return, which is significantly lower than PFLD's 2.63% return.

PQDI

• 1D: -0.18%
• 1M: 0.02%
• YTD: 1.32%
• 6M: 1.97%
• 1Y: 7.46%
• 3Y*: 9.11%
• 5Y*: 3.30%
• 10Y*: —

PFLD

• 1D: 0.00%
• 1M: 0.43%
• YTD: 2.63%
• 6M: 2.90%
• 1Y: 6.20%
• 3Y*: 4.91%
• 5Y*: 1.04%
• 10Y*: —

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

PQDI vs. PFLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PQDI Principal Spectrum Preferred and Income ETF	1.32%	8.46%	9.99%	6.24%	-9.61%	3.10%	9.81%
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	2.63%	1.44%	5.48%	8.16%	-12.73%	4.49%	9.37%

Correlation

The correlation between PQDI and PFLD is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jun 18, 2020	0.50

The correlation between PQDI and PFLD shifts across timeframes, from 0.34 (1 year) to 0.52 (5 years), reflecting how their relationship changes across market environments.

PQDI vs. PFLD - Sectors Allocation Comparison

Sectors	PQDI	PFLD
Financial Services	10.5%	-
Communication Services	0.7%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	100.0%

Return for Risk

PQDI vs. PFLD — Risk / Return Rank

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

PQDI

PQDI Risk / Return Rank: 65
PQDI Sharpe Ratio Rank: 70
PQDI Sortino Ratio Rank: 74
PQDI Omega Ratio Rank: 83
PQDI Calmar Ratio Rank: 44
PQDI Martin Ratio Rank: 56

PFLD

PFLD Risk / Return Rank: 57
PFLD Sharpe Ratio Rank: 53
PFLD Sortino Ratio Rank: 63
PFLD Omega Ratio Rank: 56
PFLD Calmar Ratio Rank: 52
PFLD Martin Ratio Rank: 63

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. PFLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Spectrum Preferred and Income ETF (PQDI) and AAM Low Duration Preferred and Income Securities ETF 144A (PFLD). 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.

	PQDI	PFLD	Difference
Sharpe ratio Return per unit of total volatility	2.33	1.83	+0.50
Sortino ratio Return per unit of downside risk	3.40	2.99	+0.41
Omega ratio Gain probability vs. loss probability	1.51	1.35	+0.16
Calmar ratio Return relative to maximum drawdown	2.23	2.60	-0.37
Martin ratio Return relative to average drawdown	10.03	11.57	-1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQDI vs. PFLD - Sharpe Ratio Comparison

The current PQDI Sharpe Ratio is 2.33, which is comparable to the PFLD Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of PQDI and PFLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PQDI	PFLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	1.83	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.14	+0.57
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	0.17	+0.87

Drawdowns

PQDI vs. PFLD - Drawdown Comparison

The maximum PQDI drawdown since its inception was -17.41%, smaller than the maximum PFLD drawdown of -33.20%. Use the drawdown chart below to compare losses from any high point for PQDI and PFLD.

Drawdown Indicators

	PQDI	PFLD	Difference
Max Drawdown Largest peak-to-trough decline	-17.41%	-33.20%	+15.79%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-2.23%	-1.08%
Max Drawdown (3Y) Largest decline over 3 years	-3.31%	-6.41%	+3.10%
Max Drawdown (5Y) Largest decline over 5 years	-17.41%	-15.51%	-1.90%
Current Drawdown Current decline from peak	-0.50%	0.00%	-0.50%
Average Drawdown Average peak-to-trough decline	-3.51%	-4.18%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	0.50%	+0.24%

Volatility

PQDI vs. PFLD - Volatility Comparison

Principal Spectrum Preferred and Income ETF (PQDI) has a higher volatility of 1.16% compared to AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) at 0.89%. This indicates that PQDI's price experiences larger fluctuations and is considered to be riskier than PFLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQDI	PFLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	0.89%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	2.26%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	3.22%	3.42%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.69%	7.50%	-2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.56%	13.38%	-8.82%

PQDI vs. PFLD - Expense Ratio Comparison

PQDI has a 0.60% expense ratio, which is higher than PFLD's 0.45% expense ratio.

Dividends

PQDI vs. PFLD - Dividend Comparison

PQDI's dividend yield for the trailing twelve months is around 5.46%, less than PFLD's 5.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	5.60%	6.52%	7.09%	7.09%	5.76%	4.52%	4.79%	0.82%
PQDI Principal Spectrum Preferred and Income ETF	5.46%	5.02%	4.93%	5.35%	5.60%	5.21%	2.69%	0.00%

Frequently Asked Questions

Can I hold both PQDI and PFLD in my portfolio?

PQDI and PFLD have a correlation of 0.34, 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 PFLD?

PQDI has higher volatility (1.16%) compared to PFLD (0.89%). In terms of maximum drawdown, PQDI dropped -17.41% vs PFLD's -33.20%.

Which ETF is better, PQDI or PFLD?

On 5-year performance, PQDI leads with 3.30% vs 1.04% for PFLD. On fees, PFLD is cheaper at 0.45% per year. On volatility, PFLD has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQDI or PFLD?

Over the 5-year period, PQDI has performed better with a 3.30% return vs 1.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQDI or PFLD?

PFLD is cheaper with a 0.45% expense ratio, compared with 0.60% for PQDI.

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

PFLD has the higher dividend yield at 5.60%, compared with 5.46% for PQDI.

What is the main difference between PQDI and PFLD?

PQDI tracks ICE BofA 7% Constrained DRD Eligible Preferred Securities Index, while PFLD tracks ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. They also come from different issuers: Principal and Advisors Asset Management. Their fees differ too: 0.60% for PQDI and 0.45% for PFLD.

Which has better risk-adjusted returns?

PQDI currently has the higher Sharpe Ratio (2.33 vs 1.83), 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.