VSHY vs. PFFR

Last updated Aug 4, 2026

VSHY (Virtus Newfleet Short Duration High Yield Bond ETF) and PFFR (InfraCap REIT Preferred ETF) are both exchange-traded funds - VSHY is a High Yield Bonds fund actively managed by Virtus, while PFFR is a REIT fund tracking the Indxx REIT Preferred Stock Index. VSHY is actively managed, while PFFR is passively managed. Over the past year, VSHY returned 6.04% vs 4.90% for PFFR. Their 0.38 correlation means their historical movements had little consistent relationship. VSHY charges 0.40%/yr vs 0.45%/yr for PFFR.

Performance

VSHY vs. PFFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) and InfraCap REIT Preferred ETF (PFFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VSHY achieves a 2.97% return, which is significantly higher than PFFR's 2.79% return.

VSHY

• 1D: 0.37%
• 1M: 0.40%
• 6M: 2.23%
• YTD: 2.97%
• 1Y: 6.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 8.15%

PFFR

• 1D: 0.11%
• 1M: 0.29%
• 6M: 1.09%
• YTD: 2.79%
• 1Y: 4.90%
• 3Y*: 8.58%
• 5Y*: 1.00%
• 10Y*: —
• ALL TIME*: 3.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PFFR InfraCap REIT Preferred ETF	$838.38K	$729.26K	$621.04K
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	$34.66K	$24.34K	$44.05K

VSHY vs. PFFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	2.97%	6.87%	8.03%	3.76%
PFFR InfraCap REIT Preferred ETF	2.79%	5.36%	7.12%	8.57%

Correlation

The correlation between VSHY and PFFR is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (All Time) Calculated using the full available price history since Nov 28, 2023	0.38

Return for Risk

VSHY vs. PFFR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VSHY

VSHY Risk / Return Rank: 79
VSHY Sharpe Ratio Rank: 72
VSHY Sortino Ratio Rank: 77
VSHY Omega Ratio Rank: 76
VSHY Calmar Ratio Rank: 85
VSHY Martin Ratio Rank: 85

PFFR

PFFR Risk / Return Rank: 25
PFFR Sharpe Ratio Rank: 26
PFFR Sortino Ratio Rank: 25
PFFR Omega Ratio Rank: 24
PFFR Calmar Ratio Rank: 25
PFFR Martin Ratio Rank: 23

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VSHY vs. PFFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) 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.

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.

	VSHY	PFFR	Difference
Sharpe ratio: Return per unit of total volatility	1.77	0.61	+1.16
Sortino ratio: Return per unit of downside risk	2.69	0.91	+1.78
Omega ratio: Gain probability vs. loss probability	1.34	1.11	+0.23
Calmar ratio: Return relative to maximum drawdown	3.50	0.75	+2.75
Martin ratio: Return relative to average drawdown	13.01	1.68	+11.32

VSHY vs. PFFR - Sharpe Ratio Comparison

The current VSHY Sharpe Ratio is 1.77, which is higher than the PFFR Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of VSHY 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.

Drawdowns

VSHY vs. PFFR - Drawdown Comparison

The maximum VSHY drawdown since its inception was -4.55%, smaller than the maximum PFFR drawdown of -53.02%. Use the drawdown chart below to compare losses from any high point for VSHY and PFFR.

Drawdown Indicators

	VSHY	PFFR	Difference
Max Drawdown Largest peak-to-trough decline	-4.55%	-53.02%	+48.47%
Max Drawdown (1Y) Largest decline over 1 year	-1.73%	-6.57%	+4.84%
Max Drawdown (3Y) Largest decline over 3 years	—	-11.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-29.80%	—
Current Drawdown Current decline from peak	0.00%	-1.14%	+1.14%
Average Drawdown Average peak-to-trough decline	-0.40%	-6.91%	+6.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	2.91%	-2.44%

Volatility

VSHY vs. PFFR - Volatility Comparison

The current volatility for Virtus Newfleet Short Duration High Yield Bond ETF (VSHY) is 0.70%, while InfraCap REIT Preferred ETF (PFFR) has a volatility of 2.10%. This indicates that VSHY experiences smaller price fluctuations and is considered to be less risky than PFFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSHY	PFFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	2.10%	-1.40%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	6.25%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	3.44%	8.10%	-4.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.33%	10.54%	-6.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.33%	20.38%	-16.05%

VSHY vs. PFFR - Expense Ratio Comparison

VSHY has a 0.40% expense ratio, which is lower than PFFR's 0.45% expense ratio.

Dividends

VSHY vs. PFFR - Dividend Comparison

VSHY's dividend yield for the trailing twelve months is around 6.24%, less than PFFR's 8.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFFR InfraCap REIT Preferred ETF	8.28%	7.99%	7.78%	7.72%	8.60%	6.08%	6.11%	5.77%	6.48%	6.59%
VSHY Virtus Newfleet Short Duration High Yield Bond ETF	6.24%	6.14%	6.81%	1.36%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VSHY and PFFR in my portfolio?

VSHY and PFFR have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSHY or PFFR?

PFFR has higher volatility (2.10%) compared to VSHY (0.70%). In terms of maximum drawdown, VSHY dropped -4.55% vs PFFR's -53.02%.

Which ETF is better, VSHY or PFFR?

On 1-year performance, VSHY leads with 6.04% vs 4.90% for PFFR. On fees, VSHY is cheaper at 0.40% per year. On volatility, VSHY has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VSHY or PFFR?

Over the 1-year period, VSHY has performed better with a 6.04% return vs 4.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VSHY or PFFR?

VSHY is cheaper with a 0.40% expense ratio, compared with 0.45% for PFFR.

Which ETF pays a higher dividend yield, VSHY or PFFR?

PFFR has the higher dividend yield at 8.28%, compared with 6.24% for VSHY.

What is the main difference between VSHY and PFFR?

VSHY is categorized as High Yield Bonds, while PFFR is REIT. Their fees differ too: 0.40% for VSHY and 0.45% for PFFR.

Which has better risk-adjusted returns?

VSHY currently has the higher Sharpe Ratio (1.77 vs 0.61), 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.