PSK vs. PFXF
PSK (SPDR ICE Preferred Securities ETF) and PFXF (VanEck Preferred Securities ex Financials ETF) are both Preferred Stock funds - PSK tracks the PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index while PFXF tracks the ICE Exchange-Listed Fixed & Adjustable Rate Non-Financial Preferred Securities Index. Both are passively managed. Over the past 10 years, PSK returned 1.86%/yr vs 4.56%/yr for PFXF. Their 0.70 correlation means they have sometimes moved together and sometimes differently. PSK charges 0.45%/yr vs 0.40%/yr for PFXF.
Performance
PSK vs. PFXF - Performance Comparison
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Returns By Period
In the year-to-date period, PSK achieves a -1.10% return, which is significantly lower than PFXF's 2.28% return. Over the past 10 years, PSK has underperformed PFXF with an annualized return of 1.86%, while PFXF has yielded a comparatively higher 4.56% annualized return.
PSK
- 1D
- 0.10%
- 1M
- -0.82%
- 6M
- -2.99%
- YTD
- -1.10%
- 1Y
- -0.14%
- 3Y*
- 3.27%
- 5Y*
- -1.17%
- 10Y*
- 1.86%
- ALL TIME*
- 4.49%
PFXF
- 1D
- -0.17%
- 1M
- -0.96%
- 6M
- -1.19%
- YTD
- 2.28%
- 1Y
- 7.52%
- 3Y*
- 7.62%
- 5Y*
- 2.77%
- 10Y*
- 4.56%
- ALL TIME*
- 5.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.22M | $13.44M | $17.06M | |
| $3.42M | $3.24M | $2.65M |
PSK vs. PFXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSK SPDR ICE Preferred Securities ETF | -1.10% | 2.69% | 4.81% | 8.91% | -18.86% | 1.57% | 6.37% | 17.59% | -4.54% | 12.44% |
PFXF VanEck Preferred Securities ex Financials ETF | 2.28% | 9.64% | 8.42% | 11.20% | -18.83% | 11.61% | 7.61% | 20.52% | -4.17% | 7.93% |
Correlation
The correlation between PSK and PFXF is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2012 | 0.70 |
The correlation between PSK and PFXF shifts across timeframes, from 0.66 (1 year) to 0.78 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PSK vs. PFXF — Risk / Return Rank
PSK
PFXF
PSK vs. PFXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE Preferred Securities ETF (PSK) and VanEck Preferred Securities ex Financials ETF (PFXF). 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 | PFXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.13 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.04 | 0.87 | -0.83 |
| Martin ratioReturn relative to average drawdown | 0.08 | 2.56 | -2.49 |
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Drawdowns
PSK vs. PFXF - Drawdown Comparison
The maximum PSK drawdown since its inception was -30.10%, smaller than the maximum PFXF drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for PSK and PFXF.
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Drawdown Indicators
| PSK | PFXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.10% | -35.49% | +5.39% |
Max Drawdown (1Y)Largest decline over 1 year | -5.50% | -8.04% | +2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -10.30% | -11.90% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -22.23% | -21.80% | -0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -30.10% | -35.49% | +5.39% |
Current DrawdownCurrent decline from peak | -6.47% | -6.66% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -4.00% | -3.92% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 2.73% | +0.32% |
Volatility
PSK vs. PFXF - Volatility Comparison
The current volatility for SPDR ICE Preferred Securities ETF (PSK) is 1.35%, while VanEck Preferred Securities ex Financials ETF (PFXF) has a volatility of 3.70%. This indicates that PSK experiences smaller price fluctuations and is considered to be less risky than PFXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSK | PFXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 3.70% | -2.35% |
Volatility (6M)Calculated over the trailing 6-month period | 4.28% | 7.98% | -3.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.90% | 9.94% | -4.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.75% | 11.11% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.88% | 13.29% | -1.41% |
PSK vs. PFXF - Expense Ratio Comparison
PSK has a 0.45% expense ratio, which is higher than PFXF's 0.40% expense ratio.
Dividends
PSK vs. PFXF - Dividend Comparison
PSK's dividend yield for the trailing twelve months is around 7.13%, more than PFXF's 6.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PFXF VanEck Preferred Securities ex Financials ETF | 6.16% | 6.72% | 7.82% | 7.88% | 6.74% | 4.66% | 5.19% | 5.35% | 6.56% | 5.93% | 5.81% | 5.99% |
PSK SPDR ICE Preferred Securities ETF | 6.54% | 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
PSK and PFXF have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFXF has higher volatility (3.70%) compared to PSK (1.35%). In terms of maximum drawdown, PSK dropped -30.10% vs PFXF's -35.49%.
On 10-year performance, PFXF leads with 4.56% vs 1.86% for PSK. On fees, PFXF is cheaper at 0.40% per year. On volatility, PSK has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PFXF has performed better with a 4.56% return vs 1.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFXF is cheaper with a 0.40% expense ratio, compared with 0.45% for PSK.
PSK has the higher dividend yield at 6.54%, compared with 6.16% for PFXF.
PSK tracks PSK-US - ICE Exchange-Listed Fixed& Adjustable Rate Preferred Securities Index, while PFXF tracks ICE Exchange-Listed Fixed & Adjustable Rate Non-Financial Preferred Securities Index. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.45% for PSK and 0.40% for PFXF.
PFXF currently has the higher Sharpe Ratio (0.70 vs 0.04), 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.
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