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

In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and PGX −9.5%.

Which is cheaper, PFF or PGX?

PFF is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.

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

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

Data as of Oct 28, 2026.

Across categories

PFF vs PGX: Differences, Returns & Fees

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Over the year to Oct 28, 2026, PFF returned −4.2% to PGX's −9.5%, and PFF charges 0.45% to PGX's 0.50%.

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Net assets on Oct 27, 2026: $11.8bn for iShares Preferred and Income Securities ETF and $3.6bn for Invesco Preferred ETF.

PFF on its own →PGX on its own →

At a glance

−4.2%

PFF total return, 1 year

−9.5%

PGX total return, 1 year

0.45%

PFF expense ratio

0.50%

PGX expense ratio

Pair scorecard

PFF costs 0.05 points a year less; their one-year returns differ by 5.3 points; PFF is 3.3 times larger.

PFF vs PGX: Differences, Returns & Fees
Measure	PFF	PGX
Return
Measure	PFF	PGX
Total return, 1 year	−4.2%	−9.5%
Drawdown
Measure	PFF	PGX
Below its high	7.1%, high on May 8, 2026	12.3%, high on Nov 5, 2021
Benchmark
Measure	PFF	PGX
What it tracks	ICE Exchange-Listed Preferred & Hybrid Securities Index	ICE BofA Core Plus Fixed Rate Preferred Securities Index
Cost and size
Measure	PFF	PGX
Expense ratio	0.45%	0.50%
Net assets, as of Oct 27, 2026	$11.8bn	$3.6bn
Holdings
Measure	PFF	PGX
Holdings in common	51%
Top ten holdings, share of the fund	22.7%	13.1%

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

Risk and return

Feb 8, 2008 to Oct 23, 2026 · 976 weekly returns

PFF PGX

Return

Total return edge PFF +103.4% +54.7%

Annualized edge PFF +3.9% +2.4%

Price return edge PFF −36.5% −52.0%

Risk

Volatility edge Tie 21.0% 21.1%

Max drawdown edge PFF (slight) −64.3% −66.1%

Risk-adjusted

Sharpe edge PFF 0.22 0.15

Sortino edge PFF 0.32 0.21

Calmar edge PFF 0.06 0.04

Reading

PFF returned more: +103.4% to +54.7%. PFF and PGX swung about the same: 21.0% and 21.1%. PFF fell slightly less at its worst: −64.3% to −66.1%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: PFF vs PGX: Differences, Returns & Fees
Measure	PFF	PGX	Edge	How it is measured
Return
Total return	+103.4%	+54.7%	PFF	Price change plus distributions, reinvested.
Annualized	+3.9%	+2.4%	PFF	Total return as a yearly rate.
Price return	−36.5%	−52.0%	PFF	Price change alone, distributions left out.
Risk
Volatility	21.0%	21.1%	Tie	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	14.1%	14.6%	PFF (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−64.3%	−66.1%	PFF (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.22	0.15	PFF	Return above Treasury bills per unit of volatility.
Sortino	0.32	0.21	PFF	Return above Treasury bills per unit of downside deviation.
Calmar	0.06	0.04	PFF	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 976 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

51%

By the books each fund has filed, PFF and PGX hold 51% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.

50%

0 half 100%

half

51% in common

Positions both hold · largest shared weight first PFF PGX

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% 1.77%

JP MORGAN CHASE & COMPANY 5.75% DEP SHS REP 1/400TH INT SHS NON CUM PFD STK SER DD 0.83% 1.54%

WELLS FARGO & COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES 0.76% 1.42%

JP MORGAN CHASE & COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE & CO. 4.625% NON-CUMULATIVE PREFERRED S 0.70% 1.31%

JP MORGAN CHASE & COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE & CO. 4.20% NON-CUMULATIVE PREFERRED ST 0.70% 1.31%

AT&T INC DEPOSITARY SHARES, EACH REPRESENTING A 1/1000TH INTEREST IN A SHARE OF 4.750% PERPETUAL PREFERRED STOCK, SERIES C 0.63% 1.22%

JP MORGAN CHASE & COMPANY DEPOSITARY SHARES, EACH REPRESENTING A 1/400TH INTEREST IN A SHARE OF JPMORGAN CHASE & CO. 4.55% NON-CUMULATIVE PREFERRED ST 0.56% 1.05%

CAPITAL ONE FINANCIAL CORP DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF FIXED RATE NON-CUMULATIVE PERPETUAL PREFERRED STOCK, SE 0.56% 1.04%

AT&T INC 5.350% GLOBAL NOTES DUE 2066 0.55% 1.05%

MORGAN STANLEY DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.625% NONCUMULATIVE PREFERRED STOCK, SERIES Q 0.51% 0.97%

MORGAN STANLEY DEPOSITARY SHARES, EACH REPRESENTING 1/1,000TH OWNERSHIP INTEREST IN A SHARE OF 6.500% NON-CUMULATIVE PREFERRED STOCK, SERIES P 0.51% 0.95%

MORGAN STANLEY FIXED-TO-FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES I 0.51% 0.95%

Only in one fund ↓

Only in PFF

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

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

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

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%

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

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%

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

Only in PGX

Qwest Corp., Pfd. 0.73%

Qwest Corp., Pfd. 0.50%

Check overlap with more funds →

Side by side

PFF iShares Preferred and Income Securities ETF PGX Invesco Preferred ETF

Where it sits Bond ETF Bond ETF

Issuer iShares Invesco

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

Total return, 1 year −4.2% −9.5%

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% 0.50%

Already in the S&P 500 0.0% 0.0%

Holdings 453 273

Net assets, as of Oct 27, 2026 $11.8bn $3.6bn

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

Client brief · page 1 of 2 Report BR-06F7801591

PFF and PGX 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 PGX follows ICE BofA Core Plus Fixed Rate Preferred Securities Index.
One-year total return. Over 1 year to Oct 28, 2026 PFF returned −4.2% and PGX −9.5% with distributions reinvested, a gap of 5.3 points.
Size. PFF has $11.8bn in net assets and PGX $3.6bn (net assets, as of Oct 27, 2026); PFF is 3.3 times larger.

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.

PGX

PGX tracks an index. Over the year to Oct 28, 2026 it returned −9.5% with distributions reinvested. The prospectus expense ratio is 0.50% 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 273 positions, with the top ten at 13.1%. It sat 12.3% below its high of Nov 5, 2021 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, PFF or PGX?: In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and PGX −9.5%.
Which is cheaper, PFF or PGX?: PFF is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do PFF and PGX overlap with the S&P 500?: By their latest filed holdings, 0% of PFF and 0% of PGX by weight is stocks the S&P 500 already holds.

Other comparisons

PFF vs VRP PFF vs PFXF FPE vs PFF PFF vs PFFA PGX vs VRP PGX vs PREF FPE vs PGX PFFA vs PGX

Where to next

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

Sources and dates

PFF filings on SEC EDGAR ↗

PFF prospectus with the expense ratio (SEC) ↗

iShares page for PFF ↗

PGX filings on SEC EDGAR ↗

PGX prospectus with the expense ratio (SEC) ↗

Invesco page for PGX ↗

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 PGX, data as of Oct 28, 2026. https://etfiq.com/compare/any/pff-vs-pgx

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.