PRFD vs. IQQQ

Last updated Jun 4, 2026

PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) and IQQQ (ProShares Nasdaq-100 High Income ETF) are both exchange-traded funds - PRFD is a Preferred Stock/Convertible Bonds fund actively managed by PIMCO, while IQQQ is a Nasdaq-100 fund tracking the Nasdaq-100 Daily Covered Call Index. PRFD is actively managed, while IQQQ is passively managed. Over the past year, PRFD returned 8.04% vs 38.70% for IQQQ. At a 0.26 correlation, their price movements are largely independent. PRFD charges 0.74%/yr vs 0.55%/yr for IQQQ.

Performance

PRFD vs. IQQQ - 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 ProShares Nasdaq-100 High Income ETF (IQQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRFD achieves a 1.40% return, which is significantly lower than IQQQ's 18.72% return.

PRFD

• 1D: -0.20%
• 1M: 0.36%
• YTD: 1.40%
• 6M: 1.56%
• 1Y: 8.04%
• 3Y*: 9.23%
• 5Y*: —
• 10Y*: —

IQQQ

• 1D: -0.30%
• 1M: 9.88%
• YTD: 18.72%
• 6M: 17.39%
• 1Y: 38.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PRFD vs. IQQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	1.40%	8.45%	7.28%
IQQQ ProShares Nasdaq-100 High Income ETF	18.72%	17.11%	13.39%

Correlation

The correlation between PRFD and IQQQ is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.26

PRFD vs. IQQQ - Sectors Allocation Comparison

Sectors	PRFD	IQQQ
Financial Services	2.0%	0.2%
Communication Services	0.3%	15.8%
Basic Materials	-	1.1%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Energy	-	0.6%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%
Utilities	-	1.4%

Return for Risk

PRFD vs. IQQQ — Risk / Return Rank

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

PRFD

PRFD Risk / Return Rank: 69
PRFD Sharpe Ratio Rank: 77
PRFD Sortino Ratio Rank: 78
PRFD Omega Ratio Rank: 84
PRFD Calmar Ratio Rank: 50
PRFD Martin Ratio Rank: 58

IQQQ

IQQQ Risk / Return Rank: 70
IQQQ Sharpe Ratio Rank: 76
IQQQ Sortino Ratio Rank: 70
IQQQ Omega Ratio Rank: 69
IQQQ Calmar Ratio Rank: 69
IQQQ 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.

PRFD vs. IQQQ - 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 ProShares Nasdaq-100 High Income ETF (IQQQ). 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	IQQQ	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.53	-0.01
Sortino ratio: Return per unit of downside risk	3.51	3.27	+0.24
Omega ratio: Gain probability vs. loss probability	1.51	1.43	+0.09
Calmar ratio: Return relative to maximum drawdown	2.46	3.49	-1.04
Martin ratio: Return relative to average drawdown	10.14	12.41	-2.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRFD vs. IQQQ - Sharpe Ratio Comparison

The current PRFD Sharpe Ratio is 2.51, which is comparable to the IQQQ Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of PRFD and IQQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PRFD	IQQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.53	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	1.25	+0.06

Drawdowns

PRFD vs. IQQQ - Drawdown Comparison

The maximum PRFD drawdown since its inception was -11.93%, smaller than the maximum IQQQ drawdown of -20.41%. Use the drawdown chart below to compare losses from any high point for PRFD and IQQQ.

Drawdown Indicators

	PRFD	IQQQ	Difference
Max Drawdown Largest peak-to-trough decline	-11.93%	-20.41%	+8.48%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	-11.13%	+7.85%
Max Drawdown (3Y) Largest decline over 3 years	-6.28%	—	—
Current Drawdown Current decline from peak	-0.61%	-0.30%	-0.31%
Average Drawdown Average peak-to-trough decline	-2.23%	-3.64%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	3.13%	-2.34%

Volatility

PRFD vs. IQQQ - Volatility Comparison

The current volatility for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) is 1.19%, while ProShares Nasdaq-100 High Income ETF (IQQQ) has a volatility of 3.99%. This indicates that PRFD experiences smaller price fluctuations and is considered to be less risky than IQQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFD	IQQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	3.99%	-2.80%
Volatility (6M) Calculated over the trailing 6-month period	2.68%	11.54%	-8.86%
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	15.40%	-12.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	18.57%	-13.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	18.57%	-13.69%

PRFD vs. IQQQ - Expense Ratio Comparison

PRFD has a 0.74% expense ratio, which is higher than IQQQ's 0.55% expense ratio.

Dividends

PRFD vs. IQQQ - Dividend Comparison

PRFD's dividend yield for the trailing twelve months is around 5.77%, more than IQQQ's 4.42% yield.

Position	TTM	2025	2024	2023
IQQQ ProShares Nasdaq-100 High Income ETF	4.42%	10.34%	7.27%	0.00%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.77%	5.63%	5.53%	5.04%

Frequently Asked Questions

Can I hold both PRFD and IQQQ in my portfolio?

PRFD and IQQQ have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRFD or IQQQ?

IQQQ has higher volatility (3.99%) compared to PRFD (1.19%). In terms of maximum drawdown, PRFD dropped -11.93% vs IQQQ's -20.41%.

Which ETF is better, PRFD or IQQQ?

On 1-year performance, IQQQ leads with 38.70% vs 8.04% for PRFD. On fees, IQQQ is cheaper at 0.55% per year. On volatility, PRFD has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRFD or IQQQ?

Over the 1-year period, IQQQ has performed better with a 38.70% return vs 8.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRFD or IQQQ?

IQQQ is cheaper with a 0.55% expense ratio, compared with 0.74% for PRFD.

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

PRFD has the higher dividend yield at 5.77%, compared with 4.42% for IQQQ.

What is the main difference between PRFD and IQQQ?

PRFD is categorized as Preferred Stock/Convertible Bonds, while IQQQ is Nasdaq-100. They also come from different issuers: PIMCO and ProShares. Their fees differ too: 0.74% for PRFD and 0.55% for IQQQ.

Which has better risk-adjusted returns?

IQQQ currently has the higher Sharpe Ratio (2.53 vs 2.51), 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.