PRFD vs. IPPP

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) and Preferred-Plus ETF (IPPP).

PRFD and IPPP 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. IPPP is an actively managed fund by Innovative Portfolios. It was launched on Dec 24, 2018.

Performance

PRFD vs. IPPP - Performance Comparison

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

PRFD vs. IPPP - Yearly Performance Comparison

	2026 (YTD)
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	-1.62%
IPPP Preferred-Plus ETF	0.00%

Returns By Period

PRFD

• 1D: 0.48%
• 1M: -2.51%
• YTD: -0.68%
• 6M: 0.63%
• 1Y: 6.09%
• 3Y*: 8.80%
• 5Y*: —
• 10Y*: —

IPPP

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

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

PRFD vs. IPPP - Expense Ratio Comparison

PRFD has a 0.74% expense ratio, which is lower than IPPP's 1.27% expense ratio.

IPPP

Preferred-Plus ETF

PRFD

PIMCO Preferred And Capital Securities Active Exchange-Traded Fund

Return for Risk

PRFD vs. IPPP — Risk / Return Rank

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

PRFD

PRFD Risk / Return Rank: 78
PRFD Sharpe Ratio Rank: 85
PRFD Sortino Ratio Rank: 84
PRFD Omega Ratio Rank: 87
PRFD Calmar Ratio Rank: 71
PRFD Martin Ratio Rank: 64

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.

PRFD vs. IPPP - 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 Preferred-Plus ETF (IPPP). 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	IPPP	Difference
Sharpe ratio Return per unit of total volatility	1.73	—	—
Sortino ratio Return per unit of downside risk	2.24	—	—
Omega ratio Gain probability vs. loss probability	1.35	—	—
Calmar ratio Return relative to maximum drawdown	1.82	—	—
Martin ratio Return relative to average drawdown	6.38	—	—
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

	PRFD	IPPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.23	—	—

Dividends

PRFD vs. IPPP - Dividend Comparison

PRFD's dividend yield for the trailing twelve months is around 5.74%, while IPPP has not paid dividends to shareholders.

	TTM	2025	2024	2023
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.74%	5.63%	5.53%	5.04%
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%

Drawdowns

PRFD vs. IPPP - Drawdown Comparison

The maximum PRFD drawdown since its inception was -11.93%, which is greater than IPPP's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PRFD and IPPP.

Drawdown Indicators

	PRFD	IPPP	Difference
Max Drawdown Largest peak-to-trough decline	-11.93%	0.00%	-11.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	—	—
Current Drawdown Current decline from peak	-2.65%	0.00%	-2.65%
Average Drawdown Average peak-to-trough decline	-2.30%	0.00%	-2.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	—	—

Volatility

Volatility by Period

	PRFD	IPPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.42%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.55%	0.00%	+3.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.94%	0.00%	+4.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	0.00%	+4.94%