Data as of Oct 28, 2026.
PFF vs VOE: Differences, Returns & Fees
Over the year to Oct 28, 2026, PFF returned −4.2% to VOE's +22.8%; 10% of their weight is in the same names.
askIQ about this page
askIQ about PFF and VOE
Net assets: $11.8bn on Oct 27, 2026 for iShares Preferred and Income Securities ETF, and $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF.
Pair scorecard
VOE costs 0.40 points a year less; their one-year returns differ by 27.0 points; VOE is 1.9 times larger.
| Measure | PFF | VOE |
|---|---|---|
| Return | ||
| Total return, 1 year | −4.2% | +22.8% |
| Drawdown | ||
| Below its high | 7.1%, high on May 8, 2026 | |
| Benchmark | ||
| What it tracks | ICE Exchange-Listed Preferred & Hybrid Securities Index | Morningstar US Mid Cap Value Index |
| Cost and size | ||
| Expense ratio | 0.45% | 0.05% |
| Net assets, as of Sep 30, 2026 | $12.3bn | $22.8bn |
| Holdings | ||
| Holdings in common | 10% | |
| Top ten holdings, share of the fund | 22.7% | 14.0% |
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 returnsVOE returned more: +429.0% to +94.0%. PFF and VOE swung about the same: 20.9% and 20.6%. VOE fell slightly less at its worst: −61.2% to −65.4%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | PFF | VOE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +94.0% | +429.0% | VOE | Price change plus distributions, reinvested. |
| Annualized | +3.4% | +8.9% | VOE | Total return as a yearly rate. |
| Price return | −42.8% | +247.6% | VOE | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.9% | 20.6% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.0% | 14.7% | PFF (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −65.4% | −61.2% | VOE (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.19 | 0.44 | VOE | Return above Treasury bills per unit of volatility. |
| Sortino | 0.28 | 0.62 | VOE | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.05 | 0.14 | VOE | 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 VOE hold 10% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
10% in common
Only in one fund ↓
Side by side
PFF and VOE on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
PFF and VOE do different jobs. What does each one do in a portfolio?
- What each follows. PFF follows ICE Exchange-Listed Preferred & Hybrid Securities Index and VOE follows Morningstar US Mid Cap Value Index.
- Holdings in common. 10% 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 VOE +22.8% with distributions reinvested, a gap of 27.0 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
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.
VOE
VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.
Questions people ask
- Which returned more over the last year, PFF or VOE?
- In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and VOE +22.8%.
- Which is cheaper, PFF or VOE?
- VOE is cheaper, by 0.40 percentage points a year. That is about $40 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.
Cite this pageCitation, APA and Markdown
ETFIQ, PFF against VOE, data as of Oct 28, 2026. https://etfiq.com/compare/any/pff-vs-voe
ETFIQ. (Oct 28, 2026). PFF against VOE. Retrieved from https://etfiq.com/compare/any/pff-vs-voe
[PFF against VOE (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/pff-vs-voe)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.