PRFP.L vs. PRFD.L
PRFP.L (Invesco Preferred Shares UCITS ETF USD (Dist)) and PRFD.L (Invesco Preferred Shares UCITS ETF USD (Dist)) 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 PRFD.L. A 0.79 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
PRFP.L vs. PRFD.L - Performance Comparison
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Different Trading Currencies
PRFP.L is traded in GBp, while PRFD.L is traded in USD. To make them comparable, the PRFD.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, PRFP.L achieves a -0.84% return, which is significantly lower than PRFD.L's -0.79% return.
PRFP.L
- 1D
- -0.70%
- 1M
- -1.13%
- 6M
- -2.93%
- YTD
- -0.84%
- 1Y
- 1.66%
- 3Y*
- 2.70%
- 5Y*
- -1.28%
- 10Y*
- —
PRFD.L
- 1D
- 0.03%
- 1M
- -2.04%
- 6M
- -3.19%
- YTD
- -0.79%
- 1Y
- 1.54%
- 3Y*
- 2.98%
- 5Y*
- -1.33%
- 10Y*
- —
PRFP.L vs. PRFD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -26.72% | 0.07% |
PRFD.L Invesco Preferred Shares UCITS ETF USD (Dist) | -0.79% | -4.84% | 6.48% | 4.09% | -12.17% | 3.73% | 2.70% | 13.38% | -0.72% | 0.22% |
Correlation
The correlation between PRFP.L and PRFD.L is 0.65, 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 | 0.65 |
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 Sep 28, 2017 | 0.79 |
The correlation between PRFP.L and PRFD.L shifts across timeframes, from 0.65 (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. PRFD.L — Risk / Return Rank
PRFP.L
PRFD.L
PRFP.L vs. PRFD.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 (Dist) (PRFD.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 | PRFD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| 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 | 0.50 | +0.26 |
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Drawdowns
PRFP.L vs. PRFD.L - Drawdown Comparison
The maximum PRFP.L drawdown since its inception was -33.34%, which is greater than PRFD.L's maximum drawdown of -24.93%. Use the drawdown chart below to compare losses from any high point for PRFP.L and PRFD.L.
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Drawdown Indicators
| PRFP.L | PRFD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.34% | -24.93% | -8.41% |
Max Drawdown (1Y)Largest decline over 1 year | -5.06% | -6.18% | +1.12% |
Max Drawdown (3Y)Largest decline over 3 years | -13.79% | -13.99% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -20.03% | -19.40% | -0.63% |
Current DrawdownCurrent decline from peak | -19.04% | -11.00% | -8.04% |
Average DrawdownAverage peak-to-trough decline | -16.25% | -6.73% | -9.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.73% | 3.08% | -0.35% |
Volatility
PRFP.L vs. PRFD.L - Volatility Comparison
Invesco Preferred Shares UCITS ETF USD (Dist) (PRFP.L) and Invesco Preferred Shares UCITS ETF USD (Dist) (PRFD.L) have volatilities of 2.64% and 2.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRFP.L | PRFD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 2.56% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 5.89% | 7.40% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.75% | 12.18% | -4.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.19% | 12.46% | -1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.02% | 13.73% | +1.29% |
PRFP.L vs. PRFD.L - Expense Ratio Comparison
Both PRFP.L and PRFD.L have an expense ratio of 0.50%.
Dividends
PRFP.L vs. PRFD.L - Dividend Comparison
PRFP.L's dividend yield for the trailing twelve months is around 5.58%, which matches PRFD.L's 5.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
PRFD.L Invesco Preferred Shares UCITS ETF USD (Dist) | 5.57% | 5.35% | 5.19% | 5.28% | 5.67% | 4.44% | 4.50% | 4.53% | 5.25% | 0.76% |
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 PRFD.L have a correlation of 0.65, 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 PRFD.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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