PRFP.L vs. PRAC.L
PRFP.L (Invesco Preferred Shares UCITS ETF USD (Dist)) and PRAC.L (Invesco Preferred Shares UCITS ETF USD (Acc)) are both Preferred Stock/Convertible Bonds funds from Invesco tracking the ICE BofA Diversified Core Plus Fixed Rate Preferred Securities Index. Both are passively managed. Over the past 5 years, PRFP.L returned -1.28%/yr vs -1.33%/yr for PRAC.L. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.
Performance
PRFP.L vs. PRAC.L - Performance Comparison
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Different Trading Currencies
PRFP.L is traded in GBp, while PRAC.L is traded in USD. To make them comparable, the PRAC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with PRFP.L having a -0.84% return and PRAC.L slightly higher at -0.80%.
PRFP.L
- 1D
- -0.70%
- 1M
- -1.13%
- 6M
- -2.93%
- YTD
- -0.84%
- 1Y
- 1.66%
- 3Y*
- 2.70%
- 5Y*
- -1.28%
- 10Y*
- —
PRAC.L
- 1D
- 0.04%
- 1M
- -1.80%
- 6M
- -3.17%
- YTD
- -0.80%
- 1Y
- 1.61%
- 3Y*
- 2.98%
- 5Y*
- -1.33%
- 10Y*
- —
PRFP.L vs. PRAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PRFP.L Invesco Preferred Shares UCITS ETF USD (Dist) | -0.84% | -4.46% | 6.43% | 3.44% | -12.08% | 4.09% | 2.23% | 14.04% | -1.27% |
PRAC.L Invesco Preferred Shares UCITS ETF USD (Acc) | -0.80% | -4.80% | 6.56% | 3.95% | -12.17% | 3.74% | 2.57% | 13.64% | -2.59% |
Correlation
The correlation between PRFP.L and PRAC.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018 | 0.81 |
The correlation between PRFP.L and PRAC.L shifts across timeframes, from 0.64 (1 year) to 0.82 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PRFP.L vs. PRAC.L — Risk / Return Rank
PRFP.L
PRAC.L
PRFP.L vs. PRAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Preferred Shares UCITS ETF USD (Dist) (PRFP.L) and Invesco Preferred Shares UCITS ETF USD (Acc) (PRAC.L). 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.
| PRFP.L | PRAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.04 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.41 | 0.25 | +0.16 |
| Martin ratioReturn relative to average drawdown | 0.76 | 0.41 | +0.35 |
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Drawdowns
PRFP.L vs. PRAC.L - Drawdown Comparison
The maximum PRFP.L drawdown since its inception was -33.34%, which is greater than PRAC.L's maximum drawdown of -24.87%. Use the drawdown chart below to compare losses from any high point for PRFP.L and PRAC.L.
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Drawdown Indicators
| PRFP.L | PRAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -24.87% | -8.47% |
Max Drawdown (1Y)Largest decline over 1 year | -5.06% | -6.44% | +1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -13.79% | -14.20% | +0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -20.03% | -19.41% | -0.62% |
Current DrawdownCurrent decline from peak | -19.04% | -10.98% | -8.06% |
Average DrawdownAverage peak-to-trough decline | -16.25% | -7.12% | -9.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 3.93% | -1.20% |
Volatility
PRFP.L vs. PRAC.L - Volatility Comparison
Invesco Preferred Shares UCITS ETF USD (Dist) (PRFP.L) has a higher volatility of 2.64% compared to Invesco Preferred Shares UCITS ETF USD (Acc) (PRAC.L) at 2.39%. This indicates that PRFP.L's price experiences larger fluctuations and is considered to be riskier than PRAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRFP.L | PRAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 2.39% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 5.89% | 8.61% | -2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.75% | 11.55% | -3.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.19% | 12.30% | -1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.02% | 13.99% | +1.03% |
PRFP.L vs. PRAC.L - Expense Ratio Comparison
Both PRFP.L and PRAC.L have an expense ratio of 0.50%.
Dividends
PRFP.L vs. PRAC.L - Dividend Comparison
PRFP.L's dividend yield for the trailing twelve months is around 5.58%, while PRAC.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PRAC.L Invesco Preferred Shares UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PRFP.L Invesco Preferred Shares UCITS ETF USD (Dist) | 5.58% | 5.38% | 5.08% | 5.39% | 5.57% | 4.36% | 4.81% | 4.64% | 5.05% | 0.57% |
Frequently Asked Questions
PRFP.L and PRAC.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
PRFP.L and PRAC.L have the same expense ratio: 0.50% per year.
Both ETFs track ICE BofA Diversified Core Plus Fixed Rate Preferred Securities Index.
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