PSK vs. NPSRX

Last updated Jun 24, 2026

PSK (SPDR ICE Preferred Securities ETF) and NPSRX (Nuveen Preferred Securities & Income Fund) are both Preferred Stock/Convertible Bonds funds. Over the past 10 years, PSK returned 2.00%/yr vs 5.29%/yr for NPSRX. A 0.52 correlation means they provide meaningful diversification when combined. PSK charges 0.45%/yr vs 0.74%/yr for NPSRX.

Performance

PSK vs. NPSRX - Performance Comparison

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

Returns By Period

In the year-to-date period, PSK achieves a -0.93% return, which is significantly lower than NPSRX's 0.60% return. Over the past 10 years, PSK has underperformed NPSRX with an annualized return of 2.00%, while NPSRX has yielded a comparatively higher 5.29% annualized return.

PSK

• 1D: 0.03%
• 1M: -0.91%
• YTD: -0.93%
• 6M: -1.06%
• 1Y: 3.05%
• 3Y*: 3.78%
• 5Y*: -1.15%
• 10Y*: 2.00%

NPSRX

• 1D: 0.00%
• 1M: 0.63%
• YTD: 0.60%
• 6M: 1.21%
• 1Y: 7.88%
• 3Y*: 10.19%
• 5Y*: 3.53%
• 10Y*: 5.29%

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

PSK vs. NPSRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSK SPDR ICE Preferred Securities ETF	-0.93%	2.69%	4.81%	8.91%	-18.86%	1.57%	6.37%	17.59%	-4.54%	12.44%
NPSRX Nuveen Preferred Securities & Income Fund	0.60%	11.19%	9.12%	6.19%	-9.50%	5.43%	5.53%	17.68%	-5.65%	11.27%

Correlation

The correlation between PSK and NPSRX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since Sep 17, 2009	0.52

The correlation between PSK and NPSRX shifts across timeframes, from 0.47 (1 year) to 0.60 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PSK vs. NPSRX — Risk / Return Rank

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

PSK

PSK Risk / Return Rank: 15
PSK Sharpe Ratio Rank: 17
PSK Sortino Ratio Rank: 15
PSK Omega Ratio Rank: 14
PSK Calmar Ratio Rank: 15
PSK Martin Ratio Rank: 14

NPSRX

NPSRX Risk / Return Rank: 74
NPSRX Sharpe Ratio Rank: 88
NPSRX Sortino Ratio Rank: 94
NPSRX Omega Ratio Rank: 91
NPSRX Calmar Ratio Rank: 45
NPSRX Martin Ratio Rank: 49

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. NPSRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ICE Preferred Securities ETF (PSK) and Nuveen Preferred Securities & Income Fund (NPSRX). 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.

	PSK	NPSRX	Difference
Sharpe ratio: Return per unit of total volatility	0.50	2.68	-2.18
Sortino ratio: Return per unit of downside risk	0.75	4.54	-3.79
Omega ratio: Gain probability vs. loss probability	1.09	1.64	-0.55
Calmar ratio: Return relative to maximum drawdown	0.56	2.45	-1.89
Martin ratio: Return relative to average drawdown	1.14	9.53	-8.38

PSK vs. NPSRX - Sharpe Ratio Comparison

The current PSK Sharpe Ratio is 0.50, which is lower than the NPSRX Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of PSK and NPSRX, 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

PSK vs. NPSRX - Drawdown Comparison

The maximum PSK drawdown since its inception was -30.10%, smaller than the maximum NPSRX drawdown of -62.52%. Use the drawdown chart below to compare losses from any high point for PSK and NPSRX.

Drawdown Indicators

	PSK	NPSRX	Difference
Max Drawdown Largest peak-to-trough decline	-30.10%	-62.52%	+32.42%
Max Drawdown (1Y) Largest decline over 1 year	-5.50%	-3.30%	-2.20%
Max Drawdown (3Y) Largest decline over 3 years	-10.30%	-3.60%	-6.70%
Max Drawdown (5Y) Largest decline over 5 years	-22.23%	-17.65%	-4.58%
Max Drawdown (10Y) Largest decline over 10 years	-30.10%	-26.47%	-3.63%
Current Drawdown Current decline from peak	-6.31%	-0.79%	-5.52%
Average Drawdown Average peak-to-trough decline	-3.98%	-4.81%	+0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	0.85%	+1.82%

Volatility

PSK vs. NPSRX - Volatility Comparison

SPDR ICE Preferred Securities ETF (PSK) has a higher volatility of 1.71% compared to Nuveen Preferred Securities & Income Fund (NPSRX) at 0.78%. This indicates that PSK's price experiences larger fluctuations and is considered to be riskier than NPSRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSK	NPSRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.71%	0.78%	+0.93%
Volatility (6M) Calculated over the trailing 6-month period	4.33%	2.39%	+1.94%
Volatility (1Y) Calculated over the trailing 1-year period	6.13%	3.03%	+3.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.75%	5.00%	+5.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.92%	6.33%	+5.59%

PSK vs. NPSRX - Expense Ratio Comparison

PSK has a 0.45% expense ratio, which is lower than NPSRX's 0.74% expense ratio.

Dividends

PSK vs. NPSRX - Dividend Comparison

PSK's dividend yield for the trailing twelve months is around 7.08%, more than NPSRX's 5.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NPSRX Nuveen Preferred Securities & Income Fund	5.39%	5.72%	5.38%	5.87%	6.18%	4.97%	5.02%	5.39%	6.00%	5.51%	5.81%	6.20%
PSK SPDR ICE Preferred Securities ETF	7.08%	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

Can I hold both PSK and NPSRX in my portfolio?

PSK and NPSRX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSK or NPSRX?

PSK has higher volatility (1.71%) compared to NPSRX (0.78%). In terms of maximum drawdown, PSK dropped -30.10% vs NPSRX's -62.52%.

Which has better risk-adjusted returns?

NPSRX currently has the higher Sharpe Ratio (2.68 vs 0.50), 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.