SPFF vs. PFLD

Last updated Jun 4, 2026

SPFF (Global X SuperIncome Preferred ETF) and PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) are both Preferred Stock/Convertible Bonds funds - SPFF tracks the S&P Enhanced Yield North American Preferred Stock Index while PFLD tracks the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. Both are passively managed. Over the past 5 years, SPFF returned 2.16%/yr vs 1.04%/yr for PFLD. A 0.65 correlation means they provide meaningful diversification when combined. SPFF charges 0.58%/yr vs 0.45%/yr for PFLD.

Performance

SPFF vs. PFLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X SuperIncome Preferred ETF (SPFF) and AAM Low Duration Preferred and Income Securities ETF 144A (PFLD). 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 PFLD's 2.69% 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%

PFLD

• 1D: 0.05%
• 1M: 0.74%
• YTD: 2.69%
• 6M: 2.90%
• 1Y: 6.25%
• 3Y*: 4.93%
• 5Y*: 1.04%
• 10Y*: —

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

SPFF vs. PFLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPFF Global X SuperIncome Preferred ETF	6.91%	7.52%	8.62%	3.00%	-14.29%	5.15%	6.91%	1.76%
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	2.69%	1.44%	5.48%	8.16%	-12.73%	4.49%	5.34%	1.04%

Correlation

The correlation between SPFF and PFLD is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Nov 21, 2019	0.65

Over the past year, the correlation between SPFF and PFLD has dropped to 0.27 - well below their long-term average of 0.65, suggesting their price drivers have been diverging.

SPFF vs. PFLD - Sectors Allocation Comparison

Sectors	SPFF	PFLD
Financial Services	54.4%	-
Technology	18.3%	-
Utilities	14.2%	100.0%
Healthcare	3.2%	-
Consumer Cyclical	3.0%	-
Basic Materials	2.6%	-
Real Estate	2.1%	-
Communication Services	2.0%	-
Industrials	1.8%	-
Consumer Defensive	-	-
Energy	-	-

Return for Risk

SPFF vs. PFLD — 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

PFLD

PFLD Risk / Return Rank: 60
PFLD Sharpe Ratio Rank: 54
PFLD Sortino Ratio Rank: 65
PFLD Omega Ratio Rank: 57
PFLD Calmar Ratio Rank: 57
PFLD Martin Ratio Rank: 68

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. PFLD - Risk-Adjusted Trends Comparison

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

	SPFF	PFLD	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.85	+0.11
Sortino ratio: Return per unit of downside risk	2.79	3.01	-0.22
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	2.45	2.81	-0.36
Martin ratio: Return relative to average drawdown	7.46	12.46	-5.00
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. PFLD - Sharpe Ratio Comparison

The current SPFF Sharpe Ratio is 1.96, which is comparable to the PFLD Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of SPFF and PFLD, 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	PFLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	1.85	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.14	+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	0.17	+0.13

Drawdowns

SPFF vs. PFLD - Drawdown Comparison

The maximum SPFF drawdown since its inception was -35.92%, which is greater than PFLD's maximum drawdown of -33.20%. Use the drawdown chart below to compare losses from any high point for SPFF and PFLD.

Drawdown Indicators

	SPFF	PFLD	Difference
Max Drawdown Largest peak-to-trough decline	-35.92%	-33.20%	-2.72%
Max Drawdown (1Y) Largest decline over 1 year	-7.58%	-2.23%	-5.35%
Max Drawdown (3Y) Largest decline over 3 years	-12.51%	-6.41%	-6.10%
Max Drawdown (5Y) Largest decline over 5 years	-22.88%	-15.51%	-7.37%
Max Drawdown (10Y) Largest decline over 10 years	-35.92%	—	—
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-4.06%	-4.17%	+0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	0.50%	+1.99%

Volatility

SPFF vs. PFLD - Volatility Comparison

Global X SuperIncome Preferred ETF (SPFF) has a higher volatility of 2.97% compared to AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) at 0.84%. This indicates that SPFF'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.

Volatility by Period

	SPFF	PFLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.97%	0.84%	+2.13%
Volatility (6M) Calculated over the trailing 6-month period	7.29%	2.26%	+5.03%
Volatility (1Y) Calculated over the trailing 1-year period	9.53%	3.39%	+6.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.93%	7.50%	+3.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.51%	13.38%	+0.13%

SPFF vs. PFLD - Expense Ratio Comparison

SPFF has a 0.58% expense ratio, which is higher than PFLD's 0.45% expense ratio.

Dividends

SPFF vs. PFLD - Dividend Comparison

SPFF's dividend yield for the trailing twelve months is around 6.34%, more than PFLD's 5.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PFLD AAM Low Duration Preferred and Income Securities ETF 144A	5.60%	6.52%	7.09%	7.09%	5.76%	4.52%	4.79%	0.82%	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 PFLD in my portfolio?

SPFF and PFLD have a correlation of 0.27, 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 PFLD?

SPFF has higher volatility (2.97%) compared to PFLD (0.84%). In terms of maximum drawdown, SPFF dropped -35.92% vs PFLD's -33.20%.

Which ETF is better, SPFF or PFLD?

On 5-year performance, SPFF leads with 2.16% vs 1.04% for PFLD. On fees, PFLD is cheaper at 0.45% per year. On volatility, PFLD has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPFF or PFLD?

Over the 5-year period, SPFF has performed better with a 2.16% return vs 1.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPFF or PFLD?

PFLD is cheaper with a 0.45% expense ratio, compared with 0.58% for SPFF.

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

SPFF has the higher dividend yield at 6.34%, compared with 5.60% for PFLD.

What is the main difference between SPFF and PFLD?

SPFF tracks S&P Enhanced Yield North American Preferred Stock Index, while PFLD tracks ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. They also come from different issuers: Global X and Advisors Asset Management. Their fees differ too: 0.58% for SPFF and 0.45% for PFLD.

Which has better risk-adjusted returns?

SPFF currently has the higher Sharpe Ratio (1.96 vs 1.85), 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.