QTPI vs. PFFR

Last updated Jun 4, 2026

QTPI (North Square RCIM Tax-Advantaged Preferred and Income Securities ETF) and PFFR (InfraCap REIT Preferred ETF) are both Preferred Stock/Convertible Bonds funds. QTPI is actively managed, while PFFR is passively managed. Over the past year, QTPI returned 5.09% vs 6.82% for PFFR. At a 0.34 correlation, their price movements are largely independent. QTPI charges 0.60%/yr vs 0.45%/yr for PFFR.

Performance

QTPI vs. PFFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) and InfraCap REIT Preferred ETF (PFFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QTPI having a 0.84% return and PFFR slightly lower at 0.80%.

QTPI

• 1D: -0.59%
• 1M: 0.10%
• YTD: 0.84%
• 6M: 1.41%
• 1Y: 5.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFFR

• 1D: -0.22%
• 1M: -0.75%
• YTD: 0.80%
• 6M: 0.96%
• 1Y: 6.82%
• 3Y*: 9.27%
• 5Y*: 0.97%
• 10Y*: —

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

QTPI vs. PFFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QTPI North Square RCIM Tax-Advantaged Preferred and Income Securities ETF	0.84%	7.37%	0.34%
PFFR InfraCap REIT Preferred ETF	0.80%	5.36%	0.22%

Correlation

The correlation between QTPI and PFFR is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.34

Return for Risk

QTPI vs. PFFR — Risk / Return Rank

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

QTPI

QTPI Risk / Return Rank: 42
QTPI Sharpe Ratio Rank: 35
QTPI Sortino Ratio Rank: 34
QTPI Omega Ratio Rank: 33
QTPI Calmar Ratio Rank: 50
QTPI Martin Ratio Rank: 57

PFFR

PFFR Risk / Return Rank: 23
PFFR Sharpe Ratio Rank: 24
PFFR Sortino Ratio Rank: 23
PFFR Omega Ratio Rank: 23
PFFR Calmar Ratio Rank: 23
PFFR Martin Ratio Rank: 20

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.

QTPI vs. PFFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) and InfraCap REIT Preferred ETF (PFFR). 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.

	QTPI	PFFR	Difference
Sharpe ratio: Return per unit of total volatility	1.23	0.87	+0.36
Sortino ratio: Return per unit of downside risk	1.80	1.27	+0.53
Omega ratio: Gain probability vs. loss probability	1.22	1.16	+0.06
Calmar ratio: Return relative to maximum drawdown	2.42	1.04	+1.38
Martin ratio: Return relative to average drawdown	9.97	2.44	+7.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QTPI vs. PFFR - Sharpe Ratio Comparison

The current QTPI Sharpe Ratio is 1.23, which is higher than the PFFR Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of QTPI and PFFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QTPI	PFFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	0.87	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.09	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	0.16	+1.04

Drawdowns

QTPI vs. PFFR - Drawdown Comparison

The maximum QTPI drawdown since its inception was -4.08%, smaller than the maximum PFFR drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for QTPI and PFFR.

Drawdown Indicators

	QTPI	PFFR	Difference
Max Drawdown Largest peak-to-trough decline	-4.08%	-53.02%	+48.94%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-6.57%	+4.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.80%	—
Current Drawdown Current decline from peak	-0.68%	-3.05%	+2.37%
Average Drawdown Average peak-to-trough decline	-0.40%	-7.00%	+6.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	2.80%	-2.28%

Volatility

QTPI vs. PFFR - Volatility Comparison

The current volatility for North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) is 1.42%, while InfraCap REIT Preferred ETF (PFFR) has a volatility of 2.81%. This indicates that QTPI experiences smaller price fluctuations and is considered to be less risky than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTPI	PFFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	2.81%	-1.39%
Volatility (6M) Calculated over the trailing 6-month period	3.19%	6.14%	-2.95%
Volatility (1Y) Calculated over the trailing 1-year period	4.55%	7.91%	-3.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.98%	10.47%	-5.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	20.54%	-15.56%

QTPI vs. PFFR - Expense Ratio Comparison

QTPI has a 0.60% expense ratio, which is higher than PFFR's 0.45% expense ratio.

Dividends

QTPI vs. PFFR - Dividend Comparison

QTPI's dividend yield for the trailing twelve months is around 4.44%, less than PFFR's 8.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFFR InfraCap REIT Preferred ETF	8.29%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%
QTPI North Square RCIM Tax-Advantaged Preferred and Income Securities ETF	4.44%	4.58%	0.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QTPI and PFFR in my portfolio?

QTPI and PFFR have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QTPI or PFFR?

PFFR has higher volatility (2.81%) compared to QTPI (1.42%). In terms of maximum drawdown, QTPI dropped -4.08% vs PFFR's -53.02%.

Which ETF is better, QTPI or PFFR?

On 1-year performance, PFFR leads with 6.82% vs 5.09% for QTPI. On fees, PFFR is cheaper at 0.45% per year. On volatility, QTPI has been the lower-risk option at 1.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTPI or PFFR?

Over the 1-year period, PFFR has performed better with a 6.82% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QTPI or PFFR?

PFFR is cheaper with a 0.45% expense ratio, compared with 0.60% for QTPI.

Which ETF pays a higher dividend yield, QTPI or PFFR?

PFFR has the higher dividend yield at 8.29%, compared with 4.44% for QTPI.

What is the main difference between QTPI and PFFR?

They also come from different issuers: North Square and Virtus Investment Partners. Their fees differ too: 0.60% for QTPI and 0.45% for PFFR.

Which has better risk-adjusted returns?

QTPI currently has the higher Sharpe Ratio (1.23 vs 0.87), 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.