VEMY vs. PFFA
VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) and PFFA (Virtus InfraCap U.S. Preferred Stock ETF) are both exchange-traded funds - VEMY is a Emerging Markets Bonds fund actively managed by Virtus, while PFFA is a Preferred Stock/Convertible Bonds fund actively managed by Virtus Investment Partners. Both are actively managed. Over the past 3 years, VEMY returned 15.11%/yr vs 14.42%/yr for PFFA. A 0.51 correlation means they provide meaningful diversification when combined. VEMY charges 0.58%/yr vs 1.47%/yr for PFFA.
Performance
VEMY vs. PFFA - Performance Comparison
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Returns By Period
In the year-to-date period, VEMY achieves a 6.70% return, which is significantly higher than PFFA's 3.08% return.
VEMY
- 1D
- 0.28%
- 1M
- 2.19%
- YTD
- 6.70%
- 6M
- 6.88%
- 1Y
- 18.55%
- 3Y*
- 15.11%
- 5Y*
- —
- 10Y*
- —
PFFA
- 1D
- 0.19%
- 1M
- -0.14%
- YTD
- 3.08%
- 6M
- 2.32%
- 1Y
- 12.59%
- 3Y*
- 14.42%
- 5Y*
- 6.42%
- 10Y*
- —
VEMY vs. PFFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 6.70% | 15.27% | 13.48% | 14.45% | -1.43% |
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 3.08% | 8.22% | 16.11% | 26.45% | -2.40% |
Correlation
The correlation between VEMY and PFFA is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.51 |
The correlation between VEMY and PFFA has been stable across timeframes, ranging from 0.51 to 0.53 - a consistent structural relationship.
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Return for Risk
VEMY vs. PFFA — Risk / Return Rank
VEMY
PFFA
VEMY vs. PFFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) and Virtus InfraCap U.S. Preferred Stock ETF (PFFA). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VEMY | PFFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.33 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.65 | 1.95 | +2.70 |
| Martin ratioReturn relative to average drawdown | 22.07 | 6.47 | +15.60 |
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Drawdowns
VEMY vs. PFFA - Drawdown Comparison
The maximum VEMY drawdown since its inception was -8.77%, smaller than the maximum PFFA drawdown of -70.52%. Use the drawdown chart below to compare losses from any high point for VEMY and PFFA.
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Drawdown Indicators
| VEMY | PFFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.77% | -70.52% | +61.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.00% | -6.49% | +2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -6.57% | -12.15% | +5.58% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.70% | — |
Current DrawdownCurrent decline from peak | -0.09% | -1.50% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -6.62% | +5.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 1.95% | -1.11% |
Volatility
VEMY vs. PFFA - Volatility Comparison
The current volatility for Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) is 1.45%, while Virtus InfraCap U.S. Preferred Stock ETF (PFFA) has a volatility of 2.17%. This indicates that VEMY experiences smaller price fluctuations and is considered to be less risky than PFFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEMY | PFFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 2.17% | -0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 4.73% | 5.89% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.08% | 7.13% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.61% | 11.53% | -3.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.61% | 31.76% | -24.15% |
VEMY vs. PFFA - Expense Ratio Comparison
VEMY has a 0.58% expense ratio, which is lower than PFFA's 1.47% expense ratio.
Dividends
VEMY vs. PFFA - Dividend Comparison
VEMY's dividend yield for the trailing twelve months is around 8.31%, less than PFFA's 9.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 9.62% | 9.47% | 9.18% | 9.56% | 10.75% | 7.64% | 8.54% | 10.02% | 5.15% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 8.31% | 8.89% | 10.28% | 9.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VEMY and PFFA have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFFA has higher volatility (2.17%) compared to VEMY (1.45%). In terms of maximum drawdown, VEMY dropped -8.77% vs PFFA's -70.52%.
On 3-year performance, VEMY leads with 15.11% vs 14.42% for PFFA. On fees, VEMY is cheaper at 0.58% per year. On volatility, VEMY has been the lower-risk option at 1.45%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VEMY has performed better with a 15.11% return vs 14.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEMY is cheaper with a 0.58% expense ratio, compared with 1.47% for PFFA.
PFFA has the higher dividend yield at 9.62%, compared with 8.31% for VEMY.
VEMY is categorized as Emerging Markets Bonds, while PFFA is Preferred Stock/Convertible Bonds. They also come from different issuers: Virtus and Virtus Investment Partners. Their fees differ too: 0.58% for VEMY and 1.47% for PFFA.
VEMY currently has the higher Sharpe Ratio (3.07 vs 1.77), 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.
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