VPC vs. PFFA
VPC (Virtus Private Credit ETF) and PFFA (Virtus InfraCap U.S. Preferred Stock ETF) are both exchange-traded funds - VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index, while PFFA is a Preferred Stock fund actively managed by Virtus. VPC is passively managed, while PFFA is actively managed. Over the past 5 years, VPC returned 1.24%/yr vs 5.61%/yr for PFFA. Their 0.51 correlation means they have sometimes moved together and sometimes differently. VPC charges 0.75%/yr vs 1.47%/yr for PFFA.
Performance
VPC vs. PFFA - Performance Comparison
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Returns By Period
In the year-to-date period, VPC achieves a -9.85% return, which is significantly lower than PFFA's 1.89% return.
VPC
- 1D
- 1.90%
- 1M
- 0.33%
- 6M
- -7.94%
- YTD
- -9.85%
- 1Y
- -14.71%
- 3Y*
- -0.64%
- 5Y*
- 1.24%
- 10Y*
- —
- ALL TIME*
- 3.88%
PFFA
- 1D
- 0.68%
- 1M
- 0.64%
- 6M
- 0.25%
- YTD
- 1.89%
- 1Y
- 6.74%
- 3Y*
- 11.90%
- 5Y*
- 5.61%
- 10Y*
- —
- ALL TIME*
- 7.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $15.43M | $17.09M | $20.18M | |
| $172.51K | $168.73K | $168.71K |
VPC vs. PFFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VPC Virtus Private Credit ETF | -9.85% | -6.75% | 10.52% | 22.20% | -11.70% | 34.18% | -9.50% | 9.25% |
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 1.89% | 8.22% | 16.11% | 26.45% | -20.91% | 23.53% | -7.87% | 22.28% |
Correlation
The correlation between VPC and PFFA is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2019 | 0.51 |
The correlation between VPC and PFFA has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
VPC vs. PFFA — Risk / Return Rank
VPC
PFFA
VPC vs. PFFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Private Credit ETF (VPC) 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.
| VPC | PFFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.16 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 1.04 | -1.73 |
| Martin ratioReturn relative to average drawdown | -1.17 | 3.00 | -4.17 |
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Drawdowns
VPC vs. PFFA - Drawdown Comparison
The maximum VPC drawdown since its inception was -53.45%, smaller than the maximum PFFA drawdown of -70.52%. Use the drawdown chart below to compare losses from any high point for VPC and PFFA.
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Drawdown Indicators
| VPC | PFFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.45% | -70.52% | +17.07% |
Max Drawdown (1Y)Largest decline over 1 year | -21.55% | -6.49% | -15.06% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | -12.15% | -12.71% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -22.70% | -2.16% |
Current DrawdownCurrent decline from peak | -20.16% | -2.63% | -17.53% |
Average DrawdownAverage peak-to-trough decline | -7.96% | -6.57% | -1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.55% | 2.25% | +10.30% |
Volatility
VPC vs. PFFA - Volatility Comparison
Virtus Private Credit ETF (VPC) has a higher volatility of 3.95% compared to Virtus InfraCap U.S. Preferred Stock ETF (PFFA) at 2.42%. This indicates that VPC's price experiences larger fluctuations and is considered to be riskier 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
| VPC | PFFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.95% | 2.42% | +1.53% |
Volatility (6M)Calculated over the trailing 6-month period | 11.15% | 6.50% | +4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.88% | 7.63% | +6.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.61% | 11.60% | +2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.43% | 31.54% | -11.11% |
VPC vs. PFFA - Expense Ratio Comparison
VPC has a 0.75% expense ratio, which is lower than PFFA's 1.47% expense ratio.
Dividends
VPC vs. PFFA - Dividend Comparison
VPC's dividend yield for the trailing twelve months is around 16.16%, more than PFFA's 9.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 9.92% | 9.47% | 9.18% | 9.56% | 10.75% | 7.64% | 8.54% | 10.02% | 5.15% |
VPC Virtus Private Credit ETF | 16.16% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% | 0.00% |
Frequently Asked Questions
VPC and PFFA have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPC has higher volatility (3.95%) compared to PFFA (2.42%). In terms of maximum drawdown, VPC dropped -53.45% vs PFFA's -70.52%.
On 5-year performance, PFFA leads with 5.61% vs 1.24% for VPC. On fees, VPC is cheaper at 0.75% per year. On volatility, PFFA has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFFA has performed better with a 5.61% return vs 1.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPC is cheaper with a 0.75% expense ratio, compared with 1.47% for PFFA.
VPC has the higher dividend yield at 16.16%, compared with 9.92% for PFFA.
VPC is categorized as Nontraditional Bonds, while PFFA is Preferred Stock. Their fees differ too: 0.75% for VPC and 1.47% for PFFA.
PFFA currently has the higher Sharpe Ratio (0.89 vs -1.07), 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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