TRMD vs. PFLD

Last updated Jun 4, 2026

TRMD (TORM plc) is a stock, while PFLD (AAM Low Duration Preferred and Income Securities ETF 144A) is Preferred Stock/Convertible Bonds fund tracking the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index. Over the past 5 years, TRMD returned 42.68%/yr vs 1.04%/yr for PFLD. At a 0.10 correlation, their price movements are largely independent.

Performance

TRMD vs. PFLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TORM plc (TRMD) 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, TRMD achieves a 51.10% return, which is significantly higher than PFLD's 2.69% return.

TRMD

• 1D: 0.11%
• 1M: -12.81%
• YTD: 51.10%
• 6M: 38.71%
• 1Y: 87.62%
• 3Y*: 18.91%
• 5Y*: 42.68%
• 10Y*: —

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)

TRMD vs. PFLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TRMD TORM plc	51.10%	11.21%	-23.37%	31.64%	297.66%	12.91%	-25.94%	23.14%
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 TRMD and PFLD is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (All Time) Calculated using the full available price history since Nov 21, 2019	0.10

Return for Risk

TRMD vs. PFLD — Risk / Return Rank

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

TRMD

TRMD Risk / Return Rank: 88
TRMD Sharpe Ratio Rank: 90
TRMD Sortino Ratio Rank: 87
TRMD Omega Ratio Rank: 83
TRMD Calmar Ratio Rank: 89
TRMD Martin Ratio Rank: 89

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.

TRMD vs. PFLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TORM plc (TRMD) 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.

	TRMD	PFLD	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.85	+0.47
Sortino ratio: Return per unit of downside risk	2.91	3.01	-0.11
Omega ratio: Gain probability vs. loss probability	1.35	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	4.39	2.81	+1.58
Martin ratio: Return relative to average drawdown	11.44	12.46	-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.

TRMD vs. PFLD - Sharpe Ratio Comparison

The current TRMD Sharpe Ratio is 2.32, which is comparable to the PFLD Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of TRMD 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

	TRMD	PFLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.32	1.85	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.14	+0.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.17	+0.31

Drawdowns

TRMD vs. PFLD - Drawdown Comparison

The maximum TRMD drawdown since its inception was -60.59%, which is greater than PFLD's maximum drawdown of -33.20%. Use the drawdown chart below to compare losses from any high point for TRMD and PFLD.

Drawdown Indicators

	TRMD	PFLD	Difference
Max Drawdown Largest peak-to-trough decline	-60.59%	-33.20%	-27.39%
Max Drawdown (1Y) Largest decline over 1 year	-20.06%	-2.23%	-17.83%
Max Drawdown (3Y) Largest decline over 3 years	-60.59%	-6.41%	-54.18%
Max Drawdown (5Y) Largest decline over 5 years	-60.59%	-15.51%	-45.08%
Current Drawdown Current decline from peak	-17.33%	0.00%	-17.33%
Average Drawdown Average peak-to-trough decline	-22.58%	-4.17%	-18.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.69%	0.50%	+7.19%

Volatility

TRMD vs. PFLD - Volatility Comparison

TORM plc (TRMD) has a higher volatility of 14.52% compared to AAM Low Duration Preferred and Income Securities ETF 144A (PFLD) at 0.84%. This indicates that TRMD'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

	TRMD	PFLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.52%	0.84%	+13.68%
Volatility (6M) Calculated over the trailing 6-month period	27.84%	2.26%	+25.58%
Volatility (1Y) Calculated over the trailing 1-year period	38.07%	3.39%	+34.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.00%	7.50%	+38.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.90%	13.38%	+46.52%

Dividends

TRMD vs. PFLD - Dividend Comparison

TRMD's dividend yield for the trailing twelve months is around 8.59%, more than PFLD's 5.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
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%
TRMD TORM plc	8.59%	10.32%	30.13%	23.05%	6.99%	0.00%	14.89%	0.00%

Frequently Asked Questions

Can I hold both TRMD and PFLD in my portfolio?

TRMD and PFLD have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRMD or PFLD?

TRMD has higher volatility (14.52%) compared to PFLD (0.84%). In terms of maximum drawdown, TRMD dropped -60.59% vs PFLD's -33.20%.

Which has better risk-adjusted returns?

TRMD currently has the higher Sharpe Ratio (2.32 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.