PRFD vs. CWB
Compare and contrast key facts about PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB).
PRFD and CWB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PRFD is an actively managed fund by PIMCO. It was launched on Jan 18, 2023. CWB is a passively managed fund by State Street that tracks the performance of the Bloomberg US Convertibles Liquid Bond. It was launched on Apr 14, 2009.
Performance
PRFD vs. CWB - Performance Comparison
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PRFD vs. CWB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund | -0.68% | 8.45% | 9.92% | 1.83% |
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 2.86% | 16.61% | 10.06% | 10.48% |
Returns By Period
In the year-to-date period, PRFD achieves a -0.68% return, which is significantly lower than CWB's 2.86% return.
PRFD
- 1D
- 0.48%
- 1M
- -2.51%
- YTD
- -0.68%
- 6M
- 0.63%
- 1Y
- 6.09%
- 3Y*
- 8.80%
- 5Y*
- —
- 10Y*
- —
CWB
- 1D
- 2.79%
- 1M
- -2.88%
- YTD
- 2.86%
- 6M
- 1.95%
- 1Y
- 21.54%
- 3Y*
- 13.06%
- 5Y*
- 3.66%
- 10Y*
- 11.06%
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PRFD vs. CWB - Expense Ratio Comparison
PRFD has a 0.74% expense ratio, which is higher than CWB's 0.40% expense ratio.
Return for Risk
PRFD vs. CWB — Risk / Return Rank
PRFD
CWB
PRFD vs. CWB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) and SPDR Bloomberg Barclays Convertible Securities ETF (CWB). 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.
| PRFD | CWB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.73 | 1.50 | +0.22 |
Sortino ratioReturn per unit of downside risk | 2.24 | 2.07 | +0.17 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.28 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.80 | -0.98 |
Martin ratioReturn relative to average drawdown | 6.38 | 9.27 | -2.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRFD | CWB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.73 | 1.50 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.29 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.23 | 0.84 | +0.39 |
Correlation
The correlation between PRFD and CWB is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PRFD vs. CWB - Dividend Comparison
PRFD's dividend yield for the trailing twelve months is around 5.74%, more than CWB's 1.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund | 5.74% | 5.63% | 5.53% | 5.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CWB SPDR Bloomberg Barclays Convertible Securities ETF | 1.63% | 1.69% | 1.85% | 1.97% | 2.21% | 1.97% | 2.34% | 3.03% | 6.17% | 4.25% | 4.60% | 7.52% |
Drawdowns
PRFD vs. CWB - Drawdown Comparison
The maximum PRFD drawdown since its inception was -11.93%, smaller than the maximum CWB drawdown of -32.06%. Use the drawdown chart below to compare losses from any high point for PRFD and CWB.
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Drawdown Indicators
| PRFD | CWB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.93% | -32.06% | +20.13% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -7.52% | +4.24% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.41% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.06% | — |
Current DrawdownCurrent decline from peak | -2.65% | -4.16% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -6.22% | +3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 2.27% | -1.33% |
Volatility
PRFD vs. CWB - Volatility Comparison
The current volatility for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) is 1.64%, while SPDR Bloomberg Barclays Convertible Securities ETF (CWB) has a volatility of 6.36%. This indicates that PRFD experiences smaller price fluctuations and is considered to be less risky than CWB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRFD | CWB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 6.36% | -4.72% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 11.48% | -9.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 14.38% | -10.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.94% | 12.85% | -7.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.94% | 14.33% | -9.39% |