PQDI vs. PRFD

Last updated Jun 24, 2026

PQDI (Principal Spectrum Preferred and Income ETF) and PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) are both Preferred Stock/Convertible Bonds funds. PQDI is passively managed, while PRFD is actively managed. Over the past 3 years, PQDI returned 9.15%/yr vs 9.34%/yr for PRFD. A 0.62 correlation means they provide meaningful diversification when combined. PQDI charges 0.60%/yr vs 0.74%/yr for PRFD.

Performance

PQDI vs. PRFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Spectrum Preferred and Income ETF (PQDI) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQDI achieves a 1.39% return, which is significantly lower than PRFD's 1.77% return.

PQDI

• 1D: -0.11%
• 1M: 0.48%
• YTD: 1.39%
• 6M: 1.47%
• 1Y: 6.43%
• 3Y*: 9.15%
• 5Y*: 3.17%
• 10Y*: —

PRFD

• 1D: 0.04%
• 1M: 0.83%
• YTD: 1.77%
• 6M: 1.91%
• 1Y: 7.06%
• 3Y*: 9.34%
• 5Y*: —
• 10Y*: —

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

PQDI vs. PRFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PQDI Principal Spectrum Preferred and Income ETF	1.39%	8.46%	9.99%	2.10%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	1.77%	8.45%	9.92%	1.81%

Correlation

The correlation between PQDI and PRFD is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jan 19, 2023	0.62

The correlation between PQDI and PRFD has been stable across timeframes, ranging from 0.52 to 0.62 - a consistent structural relationship.

PQDI vs. PRFD - Sectors Allocation Comparison

Sectors	PQDI	PRFD
Financial Services	11.3%	2.2%
Communication Services	0.7%	0.2%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PQDI vs. PRFD — Risk / Return Rank

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

PQDI

PQDI Risk / Return Rank: 61
PQDI Sharpe Ratio Rank: 65
PQDI Sortino Ratio Rank: 68
PQDI Omega Ratio Rank: 76
PQDI Calmar Ratio Rank: 41
PQDI Martin Ratio Rank: 53

PRFD

PRFD Risk / Return Rank: 67
PRFD Sharpe Ratio Rank: 75
PRFD Sortino Ratio Rank: 75
PRFD Omega Ratio Rank: 82
PRFD Calmar Ratio Rank: 46
PRFD Martin Ratio Rank: 54

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. PRFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Spectrum Preferred and Income ETF (PQDI) and PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD). 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	PRFD	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.24	-0.26
Sortino ratio: Return per unit of downside risk	2.89	3.11	-0.23
Omega ratio: Gain probability vs. loss probability	1.42	1.45	-0.03
Calmar ratio: Return relative to maximum drawdown	1.95	2.16	-0.21
Martin ratio: Return relative to average drawdown	8.62	8.82	-0.20

PQDI vs. PRFD - Sharpe Ratio Comparison

The current PQDI Sharpe Ratio is 1.97, which is comparable to the PRFD Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of PQDI and PRFD, 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. PRFD - Drawdown Comparison

The maximum PQDI drawdown since its inception was -17.41%, which is greater than PRFD's maximum drawdown of -11.93%. Use the drawdown chart below to compare losses from any high point for PQDI and PRFD.

Drawdown Indicators

	PQDI	PRFD	Difference
Max Drawdown Largest peak-to-trough decline	-17.41%	-11.93%	-5.48%
Max Drawdown (1Y) Largest decline over 1 year	-3.31%	-3.28%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-3.31%	-6.28%	+2.97%
Max Drawdown (5Y) Largest decline over 5 years	-17.41%	—	—
Current Drawdown Current decline from peak	-0.43%	-0.25%	-0.18%
Average Drawdown Average peak-to-trough decline	-3.48%	-2.20%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	0.80%	-0.05%

Volatility

PQDI vs. PRFD - Volatility Comparison

Principal Spectrum Preferred and Income ETF (PQDI) has a higher volatility of 0.89% compared to PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) at 0.73%. This indicates that PQDI's price experiences larger fluctuations and is considered to be riskier than PRFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQDI	PRFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	0.73%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	2.67%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	3.27%	3.18%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.70%	4.85%	-0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.54%	4.85%	-0.31%

PQDI vs. PRFD - Expense Ratio Comparison

PQDI has a 0.60% expense ratio, which is lower than PRFD's 0.74% expense ratio.

Dividends

PQDI vs. PRFD - Dividend Comparison

PQDI's dividend yield for the trailing twelve months is around 5.45%, less than PRFD's 5.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
PQDI Principal Spectrum Preferred and Income ETF	5.45%	5.02%	4.93%	5.35%	5.60%	5.21%	2.69%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.75%	5.63%	5.53%	5.04%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PQDI and PRFD in my portfolio?

PQDI and PRFD have a correlation of 0.52, 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 PRFD?

PQDI has higher volatility (0.89%) compared to PRFD (0.73%). In terms of maximum drawdown, PQDI dropped -17.41% vs PRFD's -11.93%.

Which ETF is better, PQDI or PRFD?

On 3-year performance, PRFD leads with 9.34% vs 9.15% for PQDI. On fees, PQDI is cheaper at 0.60% per year. On volatility, PRFD has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PQDI or PRFD?

Over the 3-year period, PRFD has performed better with a 9.34% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PQDI or PRFD?

PQDI is cheaper with a 0.60% expense ratio, compared with 0.74% for PRFD.

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

PRFD has the higher dividend yield at 5.75%, compared with 5.45% for PQDI.

What is the main difference between PQDI and PRFD?

They also come from different issuers: Principal and PIMCO. Their fees differ too: 0.60% for PQDI and 0.74% for PRFD.

Which has better risk-adjusted returns?

PRFD currently has the higher Sharpe Ratio (2.24 vs 1.97), 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.