Which returned more over the last year, PFF or PFFA?

In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and PFFA −3.4%.

Which is cheaper, PFF or PFFA?

PFF is cheaper, by 1.66 percentage points a year. That is about $166 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do PFF and PFFA overlap with the S&P 500?

By their latest filed holdings, 0% of PFF and 1% of PFFA by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

PFF vs PFFA: Differences, Returns & Fees

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Over the year to Oct 28, 2026, PFF returned −4.2% to PFFA's −3.4%, and PFF charges 0.45% to PFFA's 2.11%.

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Net assets: $11.8bn on Oct 27, 2026 for iShares Preferred and Income Securities ETF, and $2.5bn on Jul 31, 2026 for Virtus InfraCap U.S. Preferred Stock ETF.

PFF on its own →PFFA on its own →

At a glance

−4.2%

PFF total return, 1 year

−3.4%

PFFA total return, 1 year

0.45%

PFF expense ratio

2.11%

PFFA expense ratio

Pair scorecard

PFF costs 1.66 points a year less; their one-year returns differ by 0.8 points.

PFF vs PFFA: Differences, Returns & Fees
Measure	PFF	PFFA
Return
Measure	PFF	PFFA
Total return, 1 year	−4.2%	−3.4%
Drawdown
Measure	PFF	PFFA
Below its high	7.1%, high on May 8, 2026	9.2%, high on May 8, 2026
Benchmark
Measure	PFF	PFFA
What it tracks	ICE Exchange-Listed Preferred & Hybrid Securities Index	No index, actively managed
Cost and size
Measure	PFF	PFFA
Expense ratio	0.45%	2.11%
Net assets, PFF as of Oct 27, 2026 and PFFA as of Jul 31, 2026	$11.8bn	$2.5bn
Holdings
Measure	PFF	PFFA
Holdings in common	26%
Top ten holdings, share of the fund	22.7%	22.9%

Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method

Risk and return

May 25, 2018 to Oct 23, 2026 · 439 weekly returns

PFF PFFA

Return

Total return edge PFFA +24.8% +64.9%

Annualized edge PFFA +2.7% +6.1%

Price return edge PFF −22.6% −25.2%

Risk

Volatility edge PFF 13.4% 27.3%

Max drawdown edge PFF −27.2% −59.0%

Risk-adjusted

Sharpe edge PFFA 0.06 0.25

Sortino edge PFFA 0.08 0.37

Calmar edge PFFA (slight) 0.10 0.10

Reading

PFFA returned more: +64.9% to +24.8%. PFF swung less: 13.4% to 27.3%. PFF fell less at its worst: −27.2% to −59.0%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: PFF vs PFFA: Differences, Returns & Fees
Measure	PFF	PFFA	Edge	How it is measured
Return
Total return	+24.8%	+64.9%	PFFA	Price change plus distributions, reinvested.
Annualized	+2.7%	+6.1%	PFFA	Total return as a yearly rate.
Price return	−22.6%	−25.2%	PFF	Price change alone, distributions left out.
Risk
Volatility	13.4%	27.3%	PFF	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	9.5%	18.6%	PFF	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−27.2%	−59.0%	PFF	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.06	0.25	PFFA	Return above Treasury bills per unit of volatility.
Sortino	0.08	0.37	PFFA	Return above Treasury bills per unit of downside deviation.
Calmar	0.10	0.10	PFFA (slight)	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 439 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

26%

By the books each fund has filed, PFF and PFFA hold 26% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

0 half 100%

half

26% in common

Positions both hold · largest shared weight first PFF PFFA

STRATEGY INC VARIABLE RATE SERIES A PERPETUAL STRETCH PREFERRED STOCK 2.95% 2.63%

ORACLE CORP DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK 2.28% 2.05%

HEWLETT PACKARD ENTERPRISE COMPANY 7.625% SERIES C MANDATORY CONVERTIBLE PREFERRED STOCK 1.76% 1.99%

BOEING COMPANY (THE) 6% SER A DEP SHS REPSTG 1/20TH INT MANDATORY CONV PFD 3.93% 1.22%

ALBEMARLE CORP DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 7.25% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK 1.29% 1.07%

KKR & CO. INC 6.25% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK 1.05% 2.54%

MICROCHIP TECHNOLOGY INC 7.50 % DEP SHS REPSTG 1/20TH PFD CONV SER A 1.16% 0.72%

ARES MANAGEMENT CORP 6.75% SERIES B MANDATORY CONVERTIBLE PREFERRED STOCK 0.56% 1.04%

STRATEGY INC 10.00% SERIES A PERPETUAL STRIFE PREFERRED STOCK 0.47% 0.52%

XCEL ENERGY INC 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085 0.43% 1.84%

CITIGROUP INC DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 6.25% NONCUMULATIVE PREFERRED STOCK, SERIES II 0.41% 0.42%

QWEST CORP 6.500% SENIOR NOTES DUE SEPTEMBER 1,2051 (DENOMINATIONS OF $25) 0.34% 1.86%

Only in one fund ↓

Only in PFF

WELLS FARGO & COMPANY 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L 2.33%

BANK OF AMERICA CORP 7.25% NON-CUMULATIVE PERPETUAL CONVERTIBLE PREFERRED STOCK SERIES L 1.45%

CITIGROUP CAPITAL XIII FIXED/FLOAT TRUST PREFERRED SECURITIES 1.31%

NEE 7.299 06/01/27 1.08%

SO 7.125 12/15/28 A 1.01%

JP MORGAN CHASE & COMPANY DEPOSITARY SHARES EACH REP 1/400TH INTEREST IN A SHARE OF JP MORGAN CHASE & CO 6% NON CUM PFD STOCK SER EE 0.95%

APOLLO GLOBAL MANAGEMENT INC 6.75% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK 0.89%

JP MORGAN CHASE & COMPANY 5.75% DEP SHS REP 1/400TH INT SHS NON CUM PFD STK SER DD 0.83%

Only in PFFA

ENERGY TRANSFER LP 9.250% SERIES I FIXED RATE PERPETUAL PREFERRED UNITS 2.34%

ALPHABET INC SERIES A DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 6.25% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK 1.52%

ALPHABET INC SERIES A DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 6.25% SERIES B MANDATORY CONVERTIBLE PREFERRED STOCK 1.12%

REDWOOD TRUST INC NOTES ISSUED DUE ON JUNE 1, 2031 1.11%

APOLLO GLOBAL MANAGEMENT INC COM 0.95%

SUPER MICRO COMPUTER INC DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 7.00 SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK 0.89%

INNOVATIVE INDUSTRIAL PROPERTIES INC 9.00% SERIES A CUMULATIVE REDEEMABLE PREFERRED STOCK 0.87%

REDWOOD TRUST INC CALLABLE 9.00% SENIOR NOTES DUE SEPTEMBER 1, 2029 0.76%

Check overlap with more funds →

Side by side

PFF iShares Preferred and Income Securities ETF PFFA Virtus InfraCap U.S. Preferred Stock ETF

Where it sits Bond ETF Bond ETF

Issuer iShares Virtus

What it is Tracks an index of Preferred and Income Securities Actively managed

Total return, 1 year −4.2% −3.4%

Its benchmark over the same days +13.6% (MLRG) not measured

Gap to its benchmark −17.8 pts vs MLRG not measured

Expense ratio 0.45% 2.11%

Already in the S&P 500 0.0% 0.8%

Holdings 453 194

Net assets, PFF as of Oct 27, 2026 and PFFA as of Jul 31, 2026 $11.8bn $2.5bn

PFF and PFFA on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-D858290E90

PFF and PFFA are built for the same job. How do they differ in cost, holdings and results?

What each follows. PFF follows ICE Exchange-Listed Preferred & Hybrid Securities Index and PFFA follows No index, actively managed.
Holdings in common. 26% of the weight is in the same securities (holdings dated Jun 30, 2026 and Jul 31, 2026).
Cost. PFF charges 0.45% of assets a year and PFFA 2.11%, a gap of 1.66 points.

Data as of Oct 28, 2026.

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About each fund

PFF

PFF tracks an index of Preferred and Income Securities. Over the year to Oct 28, 2026 it returned −4.2% with distributions reinvested, against +13.6% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.45% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 453 positions, with the top ten at 22.7%. It sat 7.1% below its high of May 8, 2026 on Oct 28, 2026.

PFFA

PFFA is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned −3.4% with distributions reinvested. The prospectus expense ratio is 2.11% a year. By its holdings filed for Jul 31, 2026, 1% of the fund by weight is stocks the S&P 500 also holds, across 194 positions, with the top ten at 22.9%. It sat 9.2% below its high of May 8, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, PFF or PFFA?: In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and PFFA −3.4%.
Which is cheaper, PFF or PFFA?: PFF is cheaper, by 1.66 percentage points a year. That is about $166 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do PFF and PFFA overlap with the S&P 500?: By their latest filed holdings, 0% of PFF and 1% of PFFA by weight is stocks the S&P 500 already holds.

Other comparisons

PFF vs PFXF PFF vs VRP PFF vs PFFD PFF vs PREF PFFA vs PFFD PFFA vs PGX PFFA vs VRP PFFA vs PFXF

Where to next

PFF on its own →PFFA on its own →Hold both: look the portfolio through →Rankings →PFF dividend history →PFF holdings →PFFA dividend history →PFFA holdings →Standards and sources →

Sources and dates

PFF filings on SEC EDGAR ↗

PFF prospectus with the expense ratio (SEC) ↗

iShares page for PFF ↗

PFFA filings on SEC EDGAR ↗

PFFA prospectus with the expense ratio (SEC) ↗

Virtus website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, PFF against PFFA, data as of Oct 28, 2026. https://etfiq.com/compare/any/pff-vs-pffa

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