TRET.AS vs. PFFR

Last updated Jun 4, 2026

TRET.AS (VanEck Global Real Estate UCITS ETF) and PFFR (InfraCap REIT Preferred ETF) are both exchange-traded funds - TRET.AS is a REIT fund tracking the FTSE EPRA Nareit Global TR USD, while PFFR is a Preferred Stock/Convertible Bonds fund tracking the Indxx REIT Preferred Stock Index. Both are passively managed. Over the past 5 years, TRET.AS returned 3.23%/yr vs 1.92%/yr for PFFR. At a 0.37 correlation, their price movements are largely independent. TRET.AS charges 0.25%/yr vs 0.45%/yr for PFFR.

Performance

TRET.AS vs. PFFR - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in VanEck Global Real Estate UCITS ETF (TRET.AS) and InfraCap REIT Preferred ETF (PFFR). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TRET.AS is traded in EUR, while PFFR is traded in USD. To make them comparable, the PFFR values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, TRET.AS achieves a 5.12% return, which is significantly higher than PFFR's 2.01% return.

TRET.AS

• 1D: 0.49%
• 1M: -2.14%
• YTD: 5.12%
• 6M: 3.98%
• 1Y: 8.27%
• 3Y*: 7.75%
• 5Y*: 3.23%
• 10Y*: 3.57%

PFFR

• 1D: -0.01%
• 1M: -0.04%
• YTD: 2.01%
• 6M: 1.52%
• 1Y: 4.69%
• 3Y*: 6.37%
• 5Y*: 1.92%
• 10Y*: —

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

TRET.AS vs. PFFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRET.AS VanEck Global Real Estate UCITS ETF	5.12%	1.05%	8.21%	9.09%	-21.18%	40.50%	-14.55%	21.60%	0.17%	-3.79%
PFFR InfraCap REIT Preferred ETF	2.01%	-7.15%	14.19%	17.41%	-19.18%	14.75%	-8.07%	23.00%	-3.10%	-4.10%

Correlation

The correlation between TRET.AS and PFFR is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Feb 9, 2017	0.37

The correlation between TRET.AS and PFFR shifts across timeframes, from 0.22 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TRET.AS vs. PFFR — Risk / Return Rank

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

TRET.AS

TRET.AS Risk / Return Rank: 21
TRET.AS Sharpe Ratio Rank: 20
TRET.AS Sortino Ratio Rank: 20
TRET.AS Omega Ratio Rank: 19
TRET.AS Calmar Ratio Rank: 22
TRET.AS Martin Ratio Rank: 24

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.

TRET.AS vs. PFFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Real Estate UCITS ETF (TRET.AS) 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.

	TRET.AS	PFFR	Difference
Sharpe ratio: Return per unit of total volatility	0.69	0.51	+0.18
Sortino ratio: Return per unit of downside risk	1.03	0.75	+0.28
Omega ratio: Gain probability vs. loss probability	1.12	1.09	+0.03
Calmar ratio: Return relative to maximum drawdown	1.01	1.05	-0.04
Martin ratio: Return relative to average drawdown	3.28	2.26	+1.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRET.AS vs. PFFR - Sharpe Ratio Comparison

The current TRET.AS Sharpe Ratio is 0.69, which is higher than the PFFR Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of TRET.AS 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

	TRET.AS	PFFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	0.51	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.16	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.00	0.11	-0.11

Drawdowns

TRET.AS vs. PFFR - Drawdown Comparison

The maximum TRET.AS drawdown since its inception was -99.19%, which is greater than PFFR's maximum drawdown of -53.39%. Use the drawdown chart below to compare losses from any high point for TRET.AS and PFFR.

Drawdown Indicators

	TRET.AS	PFFR	Difference
Max Drawdown Largest peak-to-trough decline	-99.19%	-53.39%	-45.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.09%	-4.51%	-3.58%
Max Drawdown (3Y) Largest decline over 3 years	-17.23%	-16.52%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-30.50%	-22.49%	-8.01%
Max Drawdown (10Y) Largest decline over 10 years	-41.80%	—	—
Current Drawdown Current decline from peak	-97.59%	-8.50%	-89.09%
Average Drawdown Average peak-to-trough decline	-96.63%	-8.23%	-88.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	2.08%	+0.43%

Volatility

TRET.AS vs. PFFR - Volatility Comparison

VanEck Global Real Estate UCITS ETF (TRET.AS) has a higher volatility of 3.81% compared to InfraCap REIT Preferred ETF (PFFR) at 2.63%. This indicates that TRET.AS's price experiences larger fluctuations and is considered to be riskier than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRET.AS	PFFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.81%	2.63%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	9.01%	7.01%	+2.00%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	9.37%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	11.80%	+3.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.25%	21.53%	-5.28%

TRET.AS vs. PFFR - Expense Ratio Comparison

TRET.AS has a 0.25% expense ratio, which is lower than PFFR's 0.45% expense ratio.

Dividends

TRET.AS vs. PFFR - Dividend Comparison

TRET.AS's dividend yield for the trailing twelve months is around 4.51%, less than PFFR's 8.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
TRET.AS VanEck Global Real Estate UCITS ETF	4.51%	3.66%	3.41%	3.67%	4.68%	1.78%	4.43%	3.33%	4.31%	3.16%	3.13%	2.55%

Frequently Asked Questions

Can I hold both TRET.AS and PFFR in my portfolio?

TRET.AS and PFFR have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TRET.AS or PFFR?

On fees, TRET.AS is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TRET.AS or PFFR?

TRET.AS is cheaper with a 0.25% expense ratio, compared with 0.45% for PFFR.

What is the main difference between TRET.AS and PFFR?

TRET.AS is categorized as REIT, while PFFR is Preferred Stock/Convertible Bonds. TRET.AS tracks FTSE EPRA Nareit Global TR USD, while PFFR tracks Indxx REIT Preferred Stock Index. They also come from different issuers: VanEck and Virtus Investment Partners. Their fees differ too: 0.25% for TRET.AS and 0.45% for PFFR.