PSK vs. IPPP

Last updated Jun 3, 2026

PSK (SPDR ICE Preferred Securities ETF) and IPPP (Preferred-Plus ETF) are both Preferred Stock/Convertible Bonds funds. PSK is passively managed, while IPPP is actively managed. PSK charges 0.45%/yr vs 1.27%/yr for IPPP.

Performance

PSK vs. IPPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR ICE Preferred Securities ETF (PSK) and Preferred-Plus ETF (IPPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PSK

• 1D: -0.19%
• 1M: -1.29%
• YTD: -0.09%
• 6M: -0.18%
• 1Y: 4.79%
• 3Y*: 3.19%
• 5Y*: -0.80%
• 10Y*: 2.12%

IPPP

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSK vs. IPPP - Yearly Performance Comparison

	2026 (YTD)
PSK SPDR ICE Preferred Securities ETF	-1.82%
IPPP Preferred-Plus ETF	0.00%

PSK vs. IPPP - Sectors Allocation Comparison

Sectors	PSK	IPPP
Financial Services	66.9%	-
Utilities	9.5%	100.0%
Real Estate	4.8%	-
Consumer Cyclical	1.8%	-
Communication Services	1.6%	-
Industrials	0.8%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Technology	-	-

Return for Risk

PSK vs. IPPP — Risk / Return Rank

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

PSK

PSK Risk / Return Rank: 21
PSK Sharpe Ratio Rank: 23
PSK Sortino Ratio Rank: 22
PSK Omega Ratio Rank: 21
PSK Calmar Ratio Rank: 20
PSK Martin Ratio Rank: 17

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.

PSK vs. IPPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ICE Preferred Securities ETF (PSK) and Preferred-Plus ETF (IPPP). 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.

	PSK	IPPP	Difference
Sharpe ratio Return per unit of total volatility	0.80	—	—
Sortino ratio Return per unit of downside risk	1.19	—	—
Omega ratio Gain probability vs. loss probability	1.14	—	—
Calmar ratio Return relative to maximum drawdown	0.86	—	—
Martin ratio Return relative to average drawdown	1.91	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PSK	IPPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	—	—

Drawdowns

PSK vs. IPPP - Drawdown Comparison

The maximum PSK drawdown since its inception was -30.10%, which is greater than IPPP's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PSK and IPPP.

Drawdown Indicators

	PSK	IPPP	Difference
Max Drawdown Largest peak-to-trough decline	-30.10%	0.00%	-30.10%
Max Drawdown (1Y) Largest decline over 1 year	-5.50%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-10.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.23%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.10%	—	—
Current Drawdown Current decline from peak	-5.51%	0.00%	-5.51%
Average Drawdown Average peak-to-trough decline	-3.98%	0.00%	-3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	—	—

Volatility

Volatility by Period

	PSK	IPPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.04%	0.00%	+6.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.72%	0.00%	+10.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.91%	0.00%	+11.91%

PSK vs. IPPP - Expense Ratio Comparison

PSK has a 0.45% expense ratio, which is lower than IPPP's 1.27% expense ratio.

Dividends

PSK vs. IPPP - Dividend Comparison

PSK's dividend yield for the trailing twelve months is around 7.02%, while IPPP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSK SPDR ICE Preferred Securities ETF	7.02%	6.82%	6.55%	6.44%	6.55%	5.03%	5.08%	5.44%	6.47%	6.91%	5.92%	5.35%

Frequently Asked Questions

Which ETF is better, PSK or IPPP?

On fees, PSK is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PSK or IPPP?

PSK is cheaper with a 0.45% expense ratio, compared with 1.27% for IPPP.

Which ETF pays a higher dividend yield, PSK or IPPP?

PSK has the higher dividend yield at 7.02%, compared with 0.00% for IPPP.

What is the main difference between PSK and IPPP?

They also come from different issuers: State Street and Innovative Portfolios. Their fees differ too: 0.45% for PSK and 1.27% for IPPP.