PREF vs. BTEC

Last updated Jun 4, 2026

PREF (Principal Spectrum Preferred Secs Active ETF) and BTEC (Principal Healthcare Innovators Index ETF) are both exchange-traded funds - PREF is a Preferred Stock/Convertible Bonds fund actively managed by Principal, while BTEC is a Health & Biotech Equities fund tracking the NASDAQ U.S. Health Care Innovators Index. PREF is actively managed, while BTEC is passively managed. PREF charges 0.55%/yr vs 0.42%/yr for BTEC.

Performance

PREF vs. BTEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Spectrum Preferred Secs Active ETF (PREF) and Principal Healthcare Innovators Index ETF (BTEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PREF

• 1D: -0.13%
• 1M: 0.52%
• YTD: 1.65%
• 6M: 2.32%
• 1Y: 6.65%
• 3Y*: 9.25%
• 5Y*: 3.07%
• 10Y*: —

BTEC

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PREF vs. BTEC - Yearly Performance Comparison

	2026 (YTD)
PREF Principal Spectrum Preferred Secs Active ETF	1.12%
BTEC Principal Healthcare Innovators Index ETF	0.00%

PREF vs. BTEC - Sectors Allocation Comparison

Sectors	PREF	BTEC
Financial Services	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	99.4%
Industrials	-	0.6%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PREF vs. BTEC — Risk / Return Rank

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

PREF

PREF Risk / Return Rank: 64
PREF Sharpe Ratio Rank: 64
PREF Sortino Ratio Rank: 67
PREF Omega Ratio Rank: 75
PREF Calmar Ratio Rank: 46
PREF Martin Ratio Rank: 66

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.

PREF vs. BTEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Spectrum Preferred Secs Active ETF (PREF) and Principal Healthcare Innovators Index ETF (BTEC). 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.

	PREF	BTEC	Difference
Sharpe ratio: Return per unit of total volatility	2.16	—	—
Sortino ratio: Return per unit of downside risk	3.10	—	—
Omega ratio: Gain probability vs. loss probability	1.45	—	—
Calmar ratio: Return relative to maximum drawdown	2.32	—	—
Martin ratio: Return relative to average drawdown	12.09	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PREF	BTEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	—	—

Drawdowns

PREF vs. BTEC - Drawdown Comparison

The maximum PREF drawdown since its inception was -22.99%, which is greater than BTEC's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PREF and BTEC.

Drawdown Indicators

	PREF	BTEC	Difference
Max Drawdown Largest peak-to-trough decline	-22.99%	0.00%	-22.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.39%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.99%	—	—
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-3.66%	0.00%	-3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	—	—

Volatility

Volatility by Period

	PREF	BTEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.51%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.09%	0.00%	+3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.87%	0.00%	+4.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	0.00%	+6.30%

PREF vs. BTEC - Expense Ratio Comparison

PREF has a 0.55% expense ratio, which is higher than BTEC's 0.42% expense ratio.

Dividends

PREF vs. BTEC - Dividend Comparison

PREF's dividend yield for the trailing twelve months is around 5.16%, while BTEC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTEC Principal Healthcare Innovators Index ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PREF Principal Spectrum Preferred Secs Active ETF	5.16%	4.87%	4.65%	4.67%	4.63%	4.07%	4.35%	4.67%	5.49%	2.35%

Frequently Asked Questions

Which ETF is better, PREF or BTEC?

On fees, BTEC is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PREF or BTEC?

BTEC is cheaper with a 0.42% expense ratio, compared with 0.55% for PREF.

Which ETF pays a higher dividend yield, PREF or BTEC?

PREF has the higher dividend yield at 5.16%, compared with 0.00% for BTEC.

What is the main difference between PREF and BTEC?

PREF is categorized as Preferred Stock/Convertible Bonds, while BTEC is Health & Biotech Equities. Their fees differ too: 0.55% for PREF and 0.42% for BTEC.