PSK vs. PFLD
Compare and contrast key facts about SPDR ICE Preferred Securities ETF (PSK) and AAM Low Duration Preferred and Income Securities ETF 144A (PFLD).
PSK and PFLD 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. PFLD is a passively managed fund by Advisors Asset Management that tracks the performance of the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. It was launched on Nov 19, 2019. Both PSK and PFLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
PSK vs. PFLD - Performance Comparison
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PSK vs. PFLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PSK SPDR ICE Preferred Securities ETF | -1.59% | 2.69% | 4.81% | 8.91% | -18.86% | 1.57% | 6.37% | 1.48% |
PFLD AAM Low Duration Preferred and Income Securities ETF 144A | 0.25% | 1.44% | 5.48% | 8.16% | -12.73% | 4.49% | 5.34% | 1.04% |
Returns By Period
In the year-to-date period, PSK achieves a -1.59% return, which is significantly lower than PFLD's 0.25% return.
PSK
- 1D
- 0.16%
- 1M
- -3.59%
- YTD
- -1.59%
- 6M
- -3.57%
- 1Y
- 1.83%
- 3Y*
- 3.35%
- 5Y*
- -0.79%
- 10Y*
- 2.29%
PFLD
- 1D
- 0.58%
- 1M
- -1.09%
- YTD
- 0.25%
- 6M
- 0.97%
- 1Y
- 1.72%
- 3Y*
- 4.02%
- 5Y*
- 0.88%
- 10Y*
- —
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PSK vs. PFLD - Expense Ratio Comparison
Both PSK and PFLD have an expense ratio of 0.45%.
Return for Risk
PSK vs. PFLD — Risk / Return Rank
PSK
PFLD
PSK vs. PFLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE Preferred Securities ETF (PSK) and AAM Low Duration Preferred and Income Securities ETF 144A (PFLD). 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 | PFLD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.26 | 0.33 | -0.07 |
Sortino ratioReturn per unit of downside risk | 0.41 | 0.48 | -0.07 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.07 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.26 | 0.30 | -0.04 |
Martin ratioReturn relative to average drawdown | 0.65 | 1.09 | -0.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PSK | PFLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 0.33 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.07 | 0.12 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.14 | +0.29 |
Correlation
The correlation between PSK and PFLD is 0.72, 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.
Dividends
PSK vs. PFLD - Dividend Comparison
PSK's dividend yield for the trailing twelve months is around 7.00%, more than PFLD's 6.05% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PSK SPDR ICE Preferred Securities ETF | 7.00% | 6.82% | 6.55% | 6.44% | 6.55% | 5.03% | 5.08% | 5.44% | 6.47% | 6.91% | 5.92% | 5.35% |
PFLD AAM Low Duration Preferred and Income Securities ETF 144A | 6.05% | 6.52% | 7.09% | 7.09% | 5.76% | 4.52% | 4.79% | 0.82% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PSK vs. PFLD - Drawdown Comparison
The maximum PSK drawdown since its inception was -30.10%, smaller than the maximum PFLD drawdown of -33.20%. Use the drawdown chart below to compare losses from any high point for PSK and PFLD.
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Drawdown Indicators
| PSK | PFLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.10% | -33.20% | +3.10% |
Max Drawdown (1Y)Largest decline over 1 year | -5.50% | -4.06% | -1.44% |
Max Drawdown (5Y)Largest decline over 5 years | -22.23% | -15.51% | -6.72% |
Max Drawdown (10Y)Largest decline over 10 years | -30.10% | — | — |
Current DrawdownCurrent decline from peak | -6.93% | -1.67% | -5.26% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -4.28% | +0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 1.12% | +1.11% |
Volatility
PSK vs. PFLD - Volatility Comparison
SPDR ICE Preferred Securities ETF (PSK) has a higher volatility of 2.21% compared to AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) at 1.14%. This indicates that PSK's price experiences larger fluctuations and is considered to be riskier than PFLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSK | PFLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 1.14% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 4.12% | 2.22% | +1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.17% | 5.28% | +1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.69% | 7.49% | +3.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.89% | 13.55% | -1.66% |