PRFD vs. VRP
Compare and contrast key facts about PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) and Invesco Variable Rate Preferred ETF (VRP).
PRFD and VRP 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. VRP is a passively managed fund by Invesco that tracks the performance of the Wells Fargo Hybrid and Preferred Securities Floating and Variable Rate Index. It was launched on May 1, 2014.
Performance
PRFD vs. VRP - Performance Comparison
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PRFD vs. VRP - 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% |
VRP Invesco Variable Rate Preferred ETF | -0.19% | 7.34% | 11.10% | 6.13% |
Returns By Period
In the year-to-date period, PRFD achieves a -0.68% return, which is significantly lower than VRP's -0.19% return.
PRFD
- 1D
- 0.48%
- 1M
- -2.51%
- YTD
- -0.68%
- 6M
- 0.63%
- 1Y
- 6.09%
- 3Y*
- 8.80%
- 5Y*
- —
- 10Y*
- —
VRP
- 1D
- 0.67%
- 1M
- -1.55%
- YTD
- -0.19%
- 6M
- 0.77%
- 1Y
- 5.49%
- 3Y*
- 9.37%
- 5Y*
- 4.27%
- 10Y*
- 5.43%
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PRFD vs. VRP - Expense Ratio Comparison
PRFD has a 0.74% expense ratio, which is higher than VRP's 0.50% expense ratio.
Return for Risk
PRFD vs. VRP — Risk / Return Rank
PRFD
VRP
PRFD vs. VRP - 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 Invesco Variable Rate Preferred ETF (VRP). 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 | VRP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.73 | 1.33 | +0.40 |
Sortino ratioReturn per unit of downside risk | 2.24 | 1.79 | +0.45 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.32 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 1.37 | +0.46 |
Martin ratioReturn relative to average drawdown | 6.38 | 6.80 | -0.42 |
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 | VRP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.73 | 1.33 | +0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.66 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.37 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.23 | 0.37 | +0.86 |
Correlation
The correlation between PRFD and VRP is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PRFD vs. VRP - Dividend Comparison
PRFD's dividend yield for the trailing twelve months is around 5.74%, less than VRP's 6.53% 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% |
VRP Invesco Variable Rate Preferred ETF | 6.53% | 6.53% | 5.78% | 6.61% | 5.38% | 4.25% | 4.17% | 4.71% | 5.28% | 4.69% | 5.10% | 5.02% |
Drawdowns
PRFD vs. VRP - Drawdown Comparison
The maximum PRFD drawdown since its inception was -11.93%, smaller than the maximum VRP drawdown of -46.04%. Use the drawdown chart below to compare losses from any high point for PRFD and VRP.
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Drawdown Indicators
| PRFD | VRP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.93% | -46.04% | +34.11% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -3.95% | +0.67% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.76% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.04% | — |
Current DrawdownCurrent decline from peak | -2.65% | -1.87% | -0.78% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -2.34% | +0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.79% | +0.15% |
Volatility
PRFD vs. VRP - Volatility Comparison
The current volatility for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) is 1.64%, while Invesco Variable Rate Preferred ETF (VRP) has a volatility of 1.75%. This indicates that PRFD experiences smaller price fluctuations and is considered to be less risky than VRP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRFD | VRP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 1.75% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 2.22% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 4.16% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.94% | 6.54% | -1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.94% | 14.53% | -9.59% |