Data as of Oct 28, 2026.
PFF vs VB: Differences, Returns & Fees
Over the year to Oct 28, 2026, PFF returned −4.2% to VB's +14.4%; 6% of their weight is in the same names.
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Net assets: $11.8bn on Oct 27, 2026 for iShares Preferred and Income Securities ETF, and $76.9bn on Sep 30, 2026 for Vanguard Morningstar Small-Cap ETF.
Pair scorecard
VB costs 0.42 points a year less; their one-year returns differ by 18.6 points; VB is 6.3 times larger.
| Measure | PFF | VB |
|---|---|---|
| Return | ||
| Total return, 1 year | −4.2% | +14.4% |
| Drawdown | ||
| Below its high | 7.1%, high on May 8, 2026 | 5.7%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | ICE Exchange-Listed Preferred & Hybrid Securities Index | Morningstar US Small Cap Index |
| Cost and size | ||
| Expense ratio | 0.45% | 0.03% |
| Net assets, as of Sep 30, 2026 | $12.3bn | $76.9bn |
| Holdings | ||
| Holdings in common | 6% | |
| Top ten holdings, share of the fund | 22.7% | 5.9% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Apr 5, 2007 to Oct 23, 2026 · 1,020 weekly returnsVB returned more: +435.4% to +94.0%. PFF swung slightly less: 20.9% to 22.4%. VB fell less at its worst: −58.8% to −65.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | PFF | VB | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +94.0% | +435.4% | VB | Price change plus distributions, reinvested. |
| Annualized | +3.4% | +8.9% | VB | Total return as a yearly rate. |
| Price return | −42.8% | +300.6% | VB | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.9% | 22.4% | PFF (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.0% | 15.8% | PFF | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −65.4% | −58.8% | VB | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.19 | 0.43 | VB | Return above Treasury bills per unit of volatility. |
| Sortino | 0.28 | 0.60 | VB | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.05 | 0.15 | VB | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,020 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, PFF and VB hold 6% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
6% in common
Only in one fund ↓
Side by side
PFF and VB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
PFF and VB do different jobs. What does each one do in a portfolio?
- What each follows. PFF follows ICE Exchange-Listed Preferred & Hybrid Securities Index and VB follows Morningstar US Small Cap Index.
- Holdings in common. 6% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 PFF returned −4.2% and VB +14.4% with distributions reinvested, a gap of 18.6 points.
Data as of Oct 28, 2026.
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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.
VB
VB tracks an index of Small-Cap. Over the year to Oct 28, 2026 it returned +14.4% with distributions reinvested. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 22% of the fund by weight is stocks the S&P 500 also holds, across 1,303 positions, with the top ten at 5.9%. It sat 5.7% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, PFF or VB?
- In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and VB +14.4%.
- Which is cheaper, PFF or VB?
- VB is cheaper, by 0.42 percentage points a year. That is about $42 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, PFF against VB, data as of Oct 28, 2026. https://etfiq.com/compare/any/pff-vs-vb
ETFIQ. (Oct 28, 2026). PFF against VB. Retrieved from https://etfiq.com/compare/any/pff-vs-vb
[PFF against VB (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/pff-vs-vb)
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