PSK vs. PFF
Compare and contrast key facts about SPDR ICE Preferred Securities ETF (PSK) and iShares Preferred and Income Securities ETF (PFF).
PSK and PFF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PSK is a passively managed fund by State Street that tracks the performance of the PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index. It was launched on Sep 16, 2009. PFF is a passively managed fund by iShares that tracks the performance of the S&P U.S. Preferred Stock Index. It was launched on Mar 30, 2007. Both PSK and PFF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PSK or PFF.
Key characteristics
| PSK | PFF | |
|---|---|---|
| YTD Return | 8.62% | 10.27% |
| 1Y Return | 12.96% | 15.74% |
| 3Y Return (Ann) | -0.98% | 0.05% |
| 5Y Return (Ann) | 1.10% | 2.88% |
| 10Y Return (Ann) | 3.56% | 3.70% |
| Sharpe Ratio | 1.68 | 2.13 |
| Sortino Ratio | 2.37 | 2.98 |
| Omega Ratio | 1.31 | 1.39 |
| Calmar Ratio | 0.91 | 1.10 |
| Martin Ratio | 7.58 | 11.86 |
| Ulcer Index | 1.94% | 1.46% |
| Daily Std Dev | 8.79% | 8.11% |
| Max Drawdown | -30.10% | -65.55% |
| Current Drawdown | -4.57% | -2.01% |
Correlation
The correlation between PSK and PFF is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PSK vs. PFF - Performance Comparison
In the year-to-date period, PSK achieves a 8.62% return, which is significantly lower than PFF's 10.27% return. Both investments have delivered pretty close results over the past 10 years, with PSK having a 3.56% annualized return and PFF not far ahead at 3.70%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PSK vs. PFF - Expense Ratio Comparison
PSK has a 0.45% expense ratio, which is lower than PFF's 0.46% expense ratio.
Risk-Adjusted Performance
PSK vs. PFF - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE Preferred Securities ETF (PSK) and iShares Preferred and Income Securities ETF (PFF). 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.
Dividends
PSK vs. PFF - Dividend Comparison
PSK's dividend yield for the trailing twelve months is around 6.25%, more than PFF's 6.16% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSK SPDR ICE Preferred Securities ETF | 6.25% | 6.44% | 6.55% | 5.03% | 5.49% | 5.44% | 6.47% | 6.91% | 5.92% | 5.35% | 5.65% | 7.73% |
PFF iShares Preferred and Income Securities ETF | 6.16% | 6.63% | 5.55% | 4.45% | 4.79% | 5.31% | 6.31% | 5.59% | 5.85% | 5.77% | 6.32% | 6.61% |
Drawdowns
PSK vs. PFF - Drawdown Comparison
The maximum PSK drawdown since its inception was -30.10%, smaller than the maximum PFF drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for PSK and PFF. For additional features, visit the drawdowns tool.
Volatility
PSK vs. PFF - Volatility Comparison
SPDR ICE Preferred Securities ETF (PSK) has a higher volatility of 3.03% compared to iShares Preferred and Income Securities ETF (PFF) at 2.75%. This indicates that PSK's price experiences larger fluctuations and is considered to be riskier than PFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.