SPFF vs. PFFV

Last updated Jun 4, 2026

SPFF (Global X SuperIncome Preferred ETF) and PFFV (Global X Variable Rate Preferred ETF) are both Preferred Stock/Convertible Bonds funds from Global X - SPFF tracks the S&P Enhanced Yield North American Preferred Stock Index while PFFV tracks the ICE U.S. Variable Rate Preferred Securities Index. Both are passively managed. Over the past 5 years, SPFF returned 2.16%/yr vs 2.24%/yr for PFFV. A 0.72 correlation means they provide meaningful diversification when combined. SPFF charges 0.58%/yr vs 0.25%/yr for PFFV.

Performance

SPFF vs. PFFV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X SuperIncome Preferred ETF (SPFF) and Global X Variable Rate Preferred ETF (PFFV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPFF achieves a 6.91% return, which is significantly higher than PFFV's 2.93% return.

SPFF

• 1D: -0.20%
• 1M: 3.90%
• YTD: 6.91%
• 6M: 8.28%
• 1Y: 18.49%
• 3Y*: 8.98%
• 5Y*: 2.16%
• 10Y*: 3.13%

PFFV

• 1D: -0.05%
• 1M: 0.45%
• YTD: 2.93%
• 6M: 2.88%
• 1Y: 5.19%
• 3Y*: 7.51%
• 5Y*: 2.24%
• 10Y*: —

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

SPFF vs. PFFV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SPFF Global X SuperIncome Preferred ETF	6.91%	7.52%	8.62%	3.00%	-14.29%	5.15%	15.76%
PFFV Global X Variable Rate Preferred ETF	2.93%	2.08%	9.45%	10.64%	-13.81%	6.35%	13.36%

Correlation

The correlation between SPFF and PFFV is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020	0.72

Over the past year, the correlation between SPFF and PFFV has dropped to 0.49 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

SPFF vs. PFFV - Sectors Allocation Comparison

Sectors	SPFF	PFFV
Financial Services	54.4%	72.1%
Technology	18.3%	-
Utilities	14.2%	-
Healthcare	3.2%	-
Consumer Cyclical	3.0%	-
Basic Materials	2.6%	-
Real Estate	2.1%	19.6%
Communication Services	2.0%	-
Industrials	1.8%	-
Consumer Defensive	-	-
Energy	-	1.6%

Return for Risk

SPFF vs. PFFV — Risk / Return Rank

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

SPFF

SPFF Risk / Return Rank: 53
SPFF Sharpe Ratio Rank: 57
SPFF Sortino Ratio Rank: 58
SPFF Omega Ratio Rank: 54
SPFF Calmar Ratio Rank: 49
SPFF Martin Ratio Rank: 45

PFFV

PFFV Risk / Return Rank: 33
PFFV Sharpe Ratio Rank: 35
PFFV Sortino Ratio Rank: 35
PFFV Omega Ratio Rank: 34
PFFV Calmar Ratio Rank: 32
PFFV Martin Ratio Rank: 31

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.

SPFF vs. PFFV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X SuperIncome Preferred ETF (SPFF) and Global X Variable Rate Preferred ETF (PFFV). 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.

	SPFF	PFFV	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.27	+0.69
Sortino ratio: Return per unit of downside risk	2.79	1.88	+0.91
Omega ratio: Gain probability vs. loss probability	1.34	1.23	+0.11
Calmar ratio: Return relative to maximum drawdown	2.45	1.61	+0.84
Martin ratio: Return relative to average drawdown	7.46	4.52	+2.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPFF vs. PFFV - Sharpe Ratio Comparison

The current SPFF Sharpe Ratio is 1.96, which is higher than the PFFV Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of SPFF and PFFV, 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

	SPFF	PFFV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	1.27	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.26	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.56	-0.26

Drawdowns

SPFF vs. PFFV - Drawdown Comparison

The maximum SPFF drawdown since its inception was -35.92%, which is greater than PFFV's maximum drawdown of -18.96%. Use the drawdown chart below to compare losses from any high point for SPFF and PFFV.

Drawdown Indicators

	SPFF	PFFV	Difference
Max Drawdown Largest peak-to-trough decline	-35.92%	-18.96%	-16.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.58%	-3.23%	-4.35%
Max Drawdown (3Y) Largest decline over 3 years	-12.51%	-6.07%	-6.44%
Max Drawdown (5Y) Largest decline over 5 years	-22.88%	-18.96%	-3.92%
Max Drawdown (10Y) Largest decline over 10 years	-35.92%	—	—
Current Drawdown Current decline from peak	-0.20%	-0.31%	+0.11%
Average Drawdown Average peak-to-trough decline	-4.06%	-4.18%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	1.15%	+1.34%

Volatility

SPFF vs. PFFV - Volatility Comparison

Global X SuperIncome Preferred ETF (SPFF) has a higher volatility of 2.97% compared to Global X Variable Rate Preferred ETF (PFFV) at 0.79%. This indicates that SPFF's price experiences larger fluctuations and is considered to be riskier than PFFV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPFF	PFFV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	0.79%	+2.18%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	2.84%	+4.45%
Volatility (1Y) Calculated over the trailing 1-year period	9.53%	4.12%	+5.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.93%	8.84%	+2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.51%	8.69%	+4.82%

SPFF vs. PFFV - Expense Ratio Comparison

SPFF has a 0.58% expense ratio, which is higher than PFFV's 0.25% expense ratio.

Dividends

SPFF vs. PFFV - Dividend Comparison

SPFF's dividend yield for the trailing twelve months is around 6.34%, less than PFFV's 8.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFFV Global X Variable Rate Preferred ETF	8.12%	8.26%	7.33%	7.17%	6.60%	5.23%	2.29%	0.00%	0.00%	0.00%	0.00%	0.00%
SPFF Global X SuperIncome Preferred ETF	6.34%	6.47%	6.39%	6.64%	7.15%	5.78%	5.75%	5.97%	7.60%	7.24%	7.04%	7.50%

Frequently Asked Questions

Can I hold both SPFF and PFFV in my portfolio?

SPFF and PFFV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPFF or PFFV?

SPFF has higher volatility (2.97%) compared to PFFV (0.79%). In terms of maximum drawdown, SPFF dropped -35.92% vs PFFV's -18.96%.

Which ETF is better, SPFF or PFFV?

On 5-year performance, PFFV leads with 2.24% vs 2.16% for SPFF. On fees, PFFV is cheaper at 0.25% per year. On volatility, PFFV has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPFF or PFFV?

Over the 5-year period, PFFV has performed better with a 2.24% return vs 2.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPFF or PFFV?

PFFV is cheaper with a 0.25% expense ratio, compared with 0.58% for SPFF.

Which ETF pays a higher dividend yield, SPFF or PFFV?

PFFV has the higher dividend yield at 8.12%, compared with 6.34% for SPFF.

What is the main difference between SPFF and PFFV?

SPFF tracks S&P Enhanced Yield North American Preferred Stock Index, while PFFV tracks ICE U.S. Variable Rate Preferred Securities Index. Their fees differ too: 0.58% for SPFF and 0.25% for PFFV.

Which has better risk-adjusted returns?

SPFF currently has the higher Sharpe Ratio (1.96 vs 1.27), 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.