QTPI vs. PQDI

Last updated Jun 4, 2026

QTPI (North Square RCIM Tax-Advantaged Preferred and Income Securities ETF) and PQDI (Principal Spectrum Preferred and Income ETF) are both Preferred Stock/Convertible Bonds funds. QTPI is actively managed, while PQDI is passively managed. Over the past year, QTPI returned 5.09% vs 7.12% for PQDI. A 0.50 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

QTPI vs. PQDI - 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 Principal Spectrum Preferred and Income ETF (PQDI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QTPI achieves a 0.84% return, which is significantly lower than PQDI's 1.19% return.

QTPI

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

PQDI

• 1D: -0.13%
• 1M: 0.33%
• YTD: 1.19%
• 6M: 1.73%
• 1Y: 7.12%
• 3Y*: 9.06%
• 5Y*: 3.23%
• 10Y*: —

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

QTPI vs. PQDI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QTPI North Square RCIM Tax-Advantaged Preferred and Income Securities ETF	0.84%	7.37%	0.34%
PQDI Principal Spectrum Preferred and Income ETF	1.19%	8.46%	0.11%

Correlation

The correlation between QTPI and PQDI 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 (All Time) Calculated using the full available price history since Dec 20, 2024	0.50

The correlation between QTPI and PQDI has been stable across timeframes, ranging from 0.47 to 0.50 - a consistent structural relationship.

Return for Risk

QTPI vs. PQDI — 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

PQDI

PQDI Risk / Return Rank: 63
PQDI Sharpe Ratio Rank: 67
PQDI Sortino Ratio Rank: 71
PQDI Omega Ratio Rank: 80
PQDI Calmar Ratio Rank: 44
PQDI Martin Ratio Rank: 56

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. PQDI - 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 Principal Spectrum Preferred and Income ETF (PQDI). 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	PQDI	Difference
Sharpe ratio: Return per unit of total volatility	1.23	2.22	-0.99
Sortino ratio: Return per unit of downside risk	1.80	3.24	-1.44
Omega ratio: Gain probability vs. loss probability	1.22	1.48	-0.26
Calmar ratio: Return relative to maximum drawdown	2.42	2.16	+0.26
Martin ratio: Return relative to average drawdown	9.97	9.67	+0.30
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. PQDI - Sharpe Ratio Comparison

The current QTPI Sharpe Ratio is 1.23, which is lower than the PQDI Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of QTPI and PQDI, 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	PQDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	2.22	-0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.19	1.03	+0.17

Drawdowns

QTPI vs. PQDI - Drawdown Comparison

The maximum QTPI drawdown since its inception was -4.08%, smaller than the maximum PQDI drawdown of -17.41%. Use the drawdown chart below to compare losses from any high point for QTPI and PQDI.

Drawdown Indicators

	QTPI	PQDI	Difference
Max Drawdown Largest peak-to-trough decline	-4.08%	-17.41%	+13.33%
Max Drawdown (1Y) Largest decline over 1 year	-2.11%	-3.31%	+1.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.41%	—
Current Drawdown Current decline from peak	-0.68%	-0.63%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.40%	-3.51%	+3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.74%	-0.22%

Volatility

QTPI vs. PQDI - Volatility Comparison

North Square RCIM Tax-Advantaged Preferred and Income Securities ETF (QTPI) has a higher volatility of 1.42% compared to Principal Spectrum Preferred and Income ETF (PQDI) at 1.07%. This indicates that QTPI's price experiences larger fluctuations and is considered to be riskier than PQDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QTPI	PQDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.42%	1.07%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	3.19%	2.81%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	4.55%	3.22%	+1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.98%	4.69%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.98%	4.55%	+0.43%

QTPI vs. PQDI - Expense Ratio Comparison

Both QTPI and PQDI have an expense ratio of 0.60%.

Dividends

QTPI vs. PQDI - Dividend Comparison

QTPI's dividend yield for the trailing twelve months is around 4.44%, less than PQDI's 5.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
PQDI Principal Spectrum Preferred and Income ETF	5.46%	5.02%	4.93%	5.35%	5.60%	5.21%	2.69%
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%

Frequently Asked Questions

Can I hold both QTPI and PQDI in my portfolio?

QTPI and PQDI 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, QTPI or PQDI?

QTPI has higher volatility (1.42%) compared to PQDI (1.07%). In terms of maximum drawdown, QTPI dropped -4.08% vs PQDI's -17.41%.

Which ETF is better, QTPI or PQDI?

On 1-year performance, PQDI leads with 7.12% vs 5.09% for QTPI. Both ETFs have the same 0.60% expense ratio. On volatility, PQDI has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QTPI or PQDI?

Over the 1-year period, PQDI has performed better with a 7.12% 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 PQDI?

QTPI and PQDI have the same expense ratio: 0.60% per year.

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

PQDI has the higher dividend yield at 5.46%, compared with 4.44% for QTPI.

What is the main difference between QTPI and PQDI?

They also come from different issuers: North Square and Principal.

Which has better risk-adjusted returns?

PQDI currently has the higher Sharpe Ratio (2.22 vs 1.23), 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.