PRAC.L vs. PRFP.L
PRAC.L (Invesco Preferred Shares UCITS ETF USD (Acc)) and PRFP.L (Invesco Preferred Shares UCITS ETF USD (Dist)) are both Preferred Stock/Convertible Bonds funds from Invesco tracking the ICE BofA Diversified Core Plus Fixed Rate Preferred Securities Index. Both are passively managed. Over the past 5 years, PRAC.L returned -1.78%/yr vs -1.59%/yr for PRFP.L. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
PRAC.L vs. PRFP.L - Performance Comparison
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Different Trading Currencies
PRAC.L is traded in USD, while PRFP.L is traded in GBp. To make them comparable, the PRFP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, PRAC.L achieves a -0.94% return, which is significantly lower than PRFP.L's -0.23% return.
PRAC.L
- 1D
- -0.13%
- 1M
- -0.58%
- 6M
- -2.61%
- YTD
- -0.94%
- 1Y
- 1.89%
- 3Y*
- 4.06%
- 5Y*
- -1.78%
- 10Y*
- —
PRFP.L
- 1D
- 0.47%
- 1M
- 0.74%
- 6M
- -1.75%
- YTD
- -0.23%
- 1Y
- 2.61%
- 3Y*
- 3.86%
- 5Y*
- -1.59%
- 10Y*
- —
PRAC.L vs. PRFP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PRAC.L Invesco Preferred Shares UCITS ETF USD (Acc) | -0.94% | 2.50% | 4.73% | 9.42% | -21.50% | 2.76% | 5.68% | 18.13% | -1.07% |
PRFP.L Invesco Preferred Shares UCITS ETF USD (Dist) | -0.23% | 2.75% | 4.66% | 8.89% | -21.48% | 3.14% | 5.37% | 18.62% | -1.20% |
Correlation
The correlation between PRAC.L and PRFP.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018 | 0.76 |
The correlation between PRAC.L and PRFP.L shifts across timeframes, from 0.60 (1 year) to 0.80 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRAC.L vs. PRFP.L — Risk / Return Rank
PRAC.L
PRFP.L
PRAC.L vs. PRFP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Preferred Shares UCITS ETF USD (Acc) (PRAC.L) and Invesco Preferred Shares UCITS ETF USD (Dist) (PRFP.L). 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.
| PRAC.L | PRFP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.07 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | 0.60 | -0.30 |
| Martin ratioReturn relative to average drawdown | 0.58 | 1.15 | -0.57 |
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Drawdowns
PRAC.L vs. PRFP.L - Drawdown Comparison
The maximum PRAC.L drawdown since its inception was -30.92%, smaller than the maximum PRFP.L drawdown of -44.97%. Use the drawdown chart below to compare losses from any high point for PRAC.L and PRFP.L.
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Drawdown Indicators
| PRAC.L | PRFP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.92% | -44.97% | +14.05% |
Max Drawdown (1Y)Largest decline over 1 year | -6.32% | -5.48% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -12.52% | -11.77% | -0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -25.91% | -25.84% | -0.07% |
Current DrawdownCurrent decline from peak | -9.48% | -21.59% | +12.11% |
Average DrawdownAverage peak-to-trough decline | -8.28% | -22.07% | +13.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 2.86% | +0.40% |
Volatility
PRAC.L vs. PRFP.L - Volatility Comparison
The current volatility for Invesco Preferred Shares UCITS ETF USD (Acc) (PRAC.L) is 1.97%, while Invesco Preferred Shares UCITS ETF USD (Dist) (PRFP.L) has a volatility of 2.40%. This indicates that PRAC.L experiences smaller price fluctuations and is considered to be less risky than PRFP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRAC.L | PRFP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 2.40% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 7.70% | 6.64% | +1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.48% | 8.40% | +2.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.23% | 11.26% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.76% | 15.52% | -1.76% |
PRAC.L vs. PRFP.L - Expense Ratio Comparison
Both PRAC.L and PRFP.L have an expense ratio of 0.50%.
Dividends
PRAC.L vs. PRFP.L - Dividend Comparison
PRAC.L has not paid dividends to shareholders, while PRFP.L's dividend yield for the trailing twelve months is around 5.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PRAC.L Invesco Preferred Shares UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRFP.L Invesco Preferred Shares UCITS ETF USD (Dist) | 5.58% | 5.38% | 5.08% | 5.39% | 5.57% | 4.36% | 4.81% | 4.64% | 5.05% | 0.57% |
Frequently Asked Questions
PRAC.L and PRFP.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
PRAC.L and PRFP.L have the same expense ratio: 0.50% per year.
Both ETFs track ICE BofA Diversified Core Plus Fixed Rate Preferred Securities Index.
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