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

In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and VGLT −6.7%.

Which is cheaper, PFF or VGLT?

VGLT 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.

Data as of Oct 28, 2026.

Across categories

PFF vs VGLT: Differences, Returns & Fees

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Over the year to Oct 28, 2026, PFF returned −4.2% to VGLT's −6.7%, and VGLT charges 0.03% to PFF's 0.45%.

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Net assets: $11.8bn on Oct 27, 2026 for iShares Preferred and Income Securities ETF, and $10.4bn on Sep 30, 2026 for Vanguard Long-Term Treasury ETF.

PFF on its own →VGLT on its own →

At a glance

−4.2%

PFF total return, 1 year

−6.7%

VGLT total return, 1 year

0.45%

PFF expense ratio

0.03%

VGLT expense ratio

Pair scorecard

VGLT costs 0.42 points a year less; their one-year returns differ by 2.5 points; PFF is 1.2 times larger.

PFF vs VGLT: Differences, Returns & Fees
Measure	PFF	VGLT
Return
Measure	PFF	VGLT
Total return, 1 year	−4.2%	−6.7%
Drawdown
Measure	PFF	VGLT
Below its high	7.1%, high on May 8, 2026	38.8%, high on Aug 4, 2020
Benchmark
Measure	PFF	VGLT
What it tracks	ICE Exchange-Listed Preferred & Hybrid Securities Index	Bloomberg U.S. Long Treasury Index
Cost and size
Measure	PFF	VGLT
Expense ratio	0.45%	0.03%
Net assets, as of Sep 30, 2026	$12.3bn	$10.4bn
Holdings
Measure	PFF	VGLT
Holdings in common	0%
In the S&P 500, by weight	0%
Top ten holdings, share of the fund	22.7%

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

Risk and return

Dec 4, 2009 to Oct 23, 2026 · 881 weekly returns

PFF VGLT

Return

Total return edge PFF +119.5% +46.2%

Annualized edge PFF +4.7% +2.3%

Price return edge VGLT −19.0% −13.0%

Risk

Volatility edge PFF 10.6% 12.7%

Max drawdown edge PFF −27.2% −45.6%

Downside capture 63.8% 99.8%

Beta 0.70 1.00

Risk-adjusted

Sharpe edge PFF 0.35 0.12

Sortino edge PFF 0.49 0.17

Treynor 0.056 −0.058

Calmar edge PFF 0.17 0.05

Against the benchmark

Alpha −3.5% a year 0.0% a year

Alpha t-stat −0.90 −0.24

Information ratio −0.37 −0.04

Tracking error 17.7% 0.5%

Each against its own benchmark: PFF against MLRG, Apr 5, 2007 to Oct 23, 2026; VGLT against SCHQ, Oct 18, 2019 to Oct 23, 2026.

Reading

PFF returned more: +119.5% to +46.2%. PFF swung less: 10.6% to 12.7%. PFF fell less at its worst: −27.2% to −45.6%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: PFF vs VGLT: Differences, Returns & Fees
Measure	PFF	VGLT	Edge	How it is measured
Return
Total return	+119.5%	+46.2%	PFF	Price change plus distributions, reinvested.
Annualized	+4.7%	+2.3%	PFF	Total return as a yearly rate.
Price return	−19.0%	−13.0%	VGLT	Price change alone, distributions left out.
Risk
Volatility	10.6%	12.7%	PFF	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	7.5%	9.1%	PFF	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−27.2%	−45.6%	PFF	Deepest fall from a high to the low after it.
Upside capture	37.7%	99.5%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	63.8%	99.8%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.70	1.00	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.34	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.35	0.12	PFF	Return above Treasury bills per unit of volatility.
Sortino	0.49	0.17	PFF	Return above Treasury bills per unit of downside deviation.
Treynor	0.056	−0.058		Return above Treasury bills per unit of beta.
Calmar	0.17	0.05	PFF	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	MLRG	SCHQ		The ETF each fund is measured against.
Alpha	−3.5% a year	0.0% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.90	−0.24	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−11.0% to +4.0%	−0.4% to +0.3%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.37	−0.04		Return against its benchmark per unit of tracking error.
Tracking error	17.7%	0.5%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 881 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, PFF and VGLT hold 0% 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

0% in common

Positions both hold · largest shared weight first PFF VGLT

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 VGLT

US TREASURY N/B, due Feb 15, 2056 2.22%

US TREASURY N/B, due Aug 15, 2055 2.21%

US TREASURY N/B, due May 15, 2055 2.21%

US TREASURY N/B, due May 15, 2054 2.17%

US TREASURY N/B, due Feb 15, 2055 2.17%

US TREASURY N/B, due Nov 15, 2055 2.17%

US TREASURY N/B, due Nov 15, 2053 2.14%

US TREASURY N/B, due Nov 15, 2054 2.13%

Check overlap with more funds →

Side by side

PFF iShares Preferred and Income Securities ETF VGLT Vanguard Long-Term Treasury ETF

Where it sits Bond ETF Bond ETF

Issuer iShares Vanguard

What it is Tracks an index of Preferred and Income Securities Tracks an index of Long-term Treasury

Total return, 1 year −4.2% −6.7%

Its benchmark over the same days +13.6% (MLRG) −6.7% (SCHQ)

Gap to its benchmark −17.8 pts vs MLRG 0.0 pts vs SCHQ

Expense ratio 0.45% 0.03%

Holdings 453 102

Net assets, PFF as of Oct 27, 2026 and VGLT as of Sep 30, 2026 $11.8bn $10.4bn

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

Client brief · page 1 of 2 Report BR-3DD3337AB3

PFF and VGLT do different jobs. What does each one do in a portfolio?

What each follows. PFF follows ICE Exchange-Listed Preferred & Hybrid Securities Index and VGLT follows Bloomberg U.S. Long Treasury Index.
Holdings in common. 0% of the weight is in the same securities (holdings dated Jun 30, 2026 and May 31, 2026).
One-year total return. Over 1 year to Oct 28, 2026 PFF returned −4.2% and VGLT −6.7% with distributions reinvested, a gap of 2.5 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.

VGLT

VGLT tracks an index of Long-term Treasury. Over the year to Oct 28, 2026 it returned −6.7% with distributions reinvested, against −6.7% for its benchmark, the Bloomberg U.S. Long Treasury Index. The prospectus expense ratio is 0.03% a year. It sat 38.8% below its high of Aug 4, 2020 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, PFF or VGLT?: In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and VGLT −6.7%.
Which is cheaper, PFF or VGLT?: VGLT 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.

Other comparisons

EDV vs PFF PFF vs TLT BOND vs PFF EMB vs PFF SPTL vs VGLT TLH vs VGLT VGLT vs ZROZ VGLT vs XTEN

Where to next

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

Sources and dates

PFF filings on SEC EDGAR ↗

PFF prospectus with the expense ratio (SEC) ↗

iShares page for PFF ↗

VGLT filings on SEC EDGAR ↗

VGLT prospectus with the expense ratio (SEC) ↗

Vanguard page for VGLT ↗

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

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