YLD vs. PQDI
YLD (Principal Active High Yield ETF) and PQDI (Principal Spectrum Preferred and Income ETF) are both exchange-traded funds - YLD is a High Yield Bonds fund actively managed by Principal, while PQDI is a Preferred Stock/Convertible Bonds fund tracking the ICE BofA 7% Constrained DRD Eligible Preferred Securities Index. YLD is actively managed, while PQDI is passively managed. Over the past 5 years, YLD returned 4.78%/yr vs 3.17%/yr for PQDI. A 0.54 correlation means they provide meaningful diversification when combined. YLD charges 0.39%/yr vs 0.60%/yr for PQDI.
Performance
YLD vs. PQDI - Performance Comparison
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Returns By Period
In the year-to-date period, YLD achieves a 2.78% return, which is significantly higher than PQDI's 1.39% return.
YLD
- 1D
- -0.47%
- 1M
- 0.37%
- YTD
- 2.78%
- 6M
- 2.86%
- 1Y
- 6.38%
- 3Y*
- 8.90%
- 5Y*
- 4.78%
- 10Y*
- 5.71%
PQDI
- 1D
- -0.11%
- 1M
- 0.48%
- YTD
- 1.39%
- 6M
- 1.47%
- 1Y
- 6.43%
- 3Y*
- 9.15%
- 5Y*
- 3.17%
- 10Y*
- —
YLD vs. PQDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
YLD Principal Active High Yield ETF | 2.78% | 6.55% | 9.19% | 12.93% | -8.78% | 9.17% | 10.82% |
PQDI Principal Spectrum Preferred and Income ETF | 1.39% | 8.46% | 9.99% | 6.24% | -9.61% | 3.10% | 9.95% |
Correlation
The correlation between YLD and PQDI is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2020 | 0.54 |
The correlation between YLD and PQDI has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.
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Return for Risk
YLD vs. PQDI — Risk / Return Rank
YLD
PQDI
YLD vs. PQDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Active High Yield ETF (YLD) and Principal Spectrum Preferred and Income ETF (PQDI). 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.
| YLD | PQDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.42 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 1.95 | +1.29 |
| Martin ratioReturn relative to average drawdown | 11.10 | 8.62 | +2.48 |
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Drawdowns
YLD vs. PQDI - Drawdown Comparison
The maximum YLD drawdown since its inception was -28.34%, which is greater than PQDI's maximum drawdown of -17.41%. Use the drawdown chart below to compare losses from any high point for YLD and PQDI.
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Drawdown Indicators
| YLD | PQDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.34% | -17.41% | -10.93% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -3.31% | +1.33% |
Max Drawdown (3Y)Largest decline over 3 years | -5.62% | -3.31% | -2.31% |
Max Drawdown (5Y)Largest decline over 5 years | -13.89% | -17.41% | +3.52% |
Max Drawdown (10Y)Largest decline over 10 years | -28.34% | — | — |
Current DrawdownCurrent decline from peak | -0.55% | -0.43% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -3.48% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.75% | -0.17% |
Volatility
YLD vs. PQDI - Volatility Comparison
Principal Active High Yield ETF (YLD) has a higher volatility of 1.16% compared to Principal Spectrum Preferred and Income ETF (PQDI) at 0.89%. This indicates that YLD's price experiences larger fluctuations and is considered to be riskier than PQDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| YLD | PQDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.16% | 0.89% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 3.49% | 2.90% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 3.27% | +1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 4.70% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.20% | 4.54% | +3.66% |
YLD vs. PQDI - Expense Ratio Comparison
YLD has a 0.39% expense ratio, which is lower than PQDI's 0.60% expense ratio.
Dividends
YLD vs. PQDI - Dividend Comparison
YLD's dividend yield for the trailing twelve months is around 7.28%, more than PQDI's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PQDI Principal Spectrum Preferred and Income ETF | 5.45% | 5.02% | 4.93% | 5.35% | 5.60% | 5.21% | 2.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
YLD Principal Active High Yield ETF | 7.28% | 7.33% | 7.12% | 6.46% | 6.51% | 3.92% | 4.40% | 4.81% | 5.42% | 6.28% | 4.47% | 2.56% |
Frequently Asked Questions
YLD and PQDI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
YLD has higher volatility (1.16%) compared to PQDI (0.89%). In terms of maximum drawdown, YLD dropped -28.34% vs PQDI's -17.41%.
On 5-year performance, YLD leads with 4.78% vs 3.17% for PQDI. On fees, YLD is cheaper at 0.39% per year. On volatility, PQDI has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, YLD has performed better with a 4.78% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YLD is cheaper with a 0.39% expense ratio, compared with 0.60% for PQDI.
YLD has the higher dividend yield at 7.28%, compared with 5.45% for PQDI.
YLD is categorized as High Yield Bonds, while PQDI is Preferred Stock/Convertible Bonds. Their fees differ too: 0.39% for YLD and 0.60% for PQDI.
PQDI currently has the higher Sharpe Ratio (1.97 vs 1.46), 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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