PRFD vs. NPFI

Last updated Aug 2, 2026

PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) and NPFI (Nuveen Preferred And Income ETF) are both Preferred Stock funds. Both are actively managed. Over the past year, PRFD returned 4.77% vs 5.72% for NPFI. Their 0.54 correlation means they have sometimes moved together and sometimes differently. PRFD charges 0.74%/yr vs 0.55%/yr for NPFI.

Performance

PRFD vs. NPFI - 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 Nuveen Preferred And Income ETF (NPFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRFD achieves a 1.05% return, which is significantly lower than NPFI's 1.83% return.

PRFD

• 1D: 0.00%
• 1M: -1.01%
• 6M: 0.27%
• YTD: 1.05%
• 1Y: 4.77%
• 3Y*: 8.07%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.95%

NPFI

• 1D: 0.12%
• 1M: -0.48%
• 6M: 1.20%
• YTD: 1.83%
• 1Y: 5.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
NPFI Nuveen Preferred And Income ETF	$434.98K	$466.60K	$460.13K
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	$2.97M	$1.65M	$1.08M

PRFD vs. NPFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	1.05%	8.45%	7.96%
NPFI Nuveen Preferred And Income ETF	1.83%	9.21%	6.37%

Correlation

The correlation between PRFD and NPFI is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	0.54

The correlation between PRFD and NPFI has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.

Return for Risk

PRFD vs. NPFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PRFD

PRFD Risk / Return Rank: 59
PRFD Sharpe Ratio Rank: 67
PRFD Sortino Ratio Rank: 64
PRFD Omega Ratio Rank: 70
PRFD Calmar Ratio Rank: 42
PRFD Martin Ratio Rank: 51

NPFI

NPFI Risk / Return Rank: 76
NPFI Sharpe Ratio Rank: 84
NPFI Sortino Ratio Rank: 87
NPFI Omega Ratio Rank: 91
NPFI Calmar Ratio Rank: 51
NPFI Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PRFD vs. NPFI - 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 Nuveen Preferred And Income ETF (NPFI). 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.

	PRFD	NPFI	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.97	-0.43
Sortino ratio: Return per unit of downside risk	2.12	2.94	-0.82
Omega ratio: Gain probability vs. loss probability	1.29	1.43	-0.14
Calmar ratio: Return relative to maximum drawdown	1.51	1.81	-0.31
Martin ratio: Return relative to average drawdown	5.98	8.58	-2.60

PRFD vs. NPFI - Sharpe Ratio Comparison

The current PRFD Sharpe Ratio is 1.54, which is comparable to the NPFI Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of PRFD and NPFI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PRFD vs. NPFI - Drawdown Comparison

The maximum PRFD drawdown since its inception was -11.93%, which is greater than NPFI's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for PRFD and NPFI.

Drawdown Indicators

	PRFD	NPFI	Difference
Max Drawdown Largest peak-to-trough decline	-11.93%	-3.18%	-8.75%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	-3.18%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-5.59%	—	—
Current Drawdown Current decline from peak	-1.21%	-0.65%	-0.56%
Average Drawdown Average peak-to-trough decline	-2.15%	-0.33%	-1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.67%	+0.16%

Volatility

PRFD vs. NPFI - Volatility Comparison

PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) has a higher volatility of 0.80% compared to Nuveen Preferred And Income ETF (NPFI) at 0.67%. This indicates that PRFD's price experiences larger fluctuations and is considered to be riskier than NPFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRFD	NPFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	0.67%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	2.64%	2.57%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.22%	2.93%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.80%	2.91%	+1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.80%	2.91%	+1.89%

PRFD vs. NPFI - Expense Ratio Comparison

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

Dividends

PRFD vs. NPFI - Dividend Comparison

PRFD's dividend yield for the trailing twelve months is around 5.84%, less than NPFI's 6.48% yield.

Position	TTM	2025	2024	2023
NPFI Nuveen Preferred And Income ETF	5.93%	6.33%	5.10%	0.00%
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund	5.36%	5.63%	5.53%	5.04%

Frequently Asked Questions

Can I hold both PRFD and NPFI in my portfolio?

PRFD and NPFI have a correlation of 0.57, 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 NPFI?

PRFD has higher volatility (0.80%) compared to NPFI (0.67%). In terms of maximum drawdown, PRFD dropped -11.93% vs NPFI's -3.18%.

Which ETF is better, PRFD or NPFI?

On 1-year performance, NPFI leads with 5.72% vs 4.77% for PRFD. On fees, NPFI is cheaper at 0.55% per year. On volatility, NPFI has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRFD or NPFI?

Over the 1-year period, NPFI has performed better with a 5.72% return vs 4.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRFD or NPFI?

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

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

NPFI has the higher dividend yield at 5.93%, compared with 5.36% for PRFD.

What is the main difference between PRFD and NPFI?

They also come from different issuers: PIMCO and Nuveen. Their fees differ too: 0.74% for PRFD and 0.55% for NPFI.

Which has better risk-adjusted returns?

NPFI currently has the higher Sharpe Ratio (1.97 vs 1.54), 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.