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

In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and VTEB −0.4%.

Which is cheaper, PFF or VTEB?

VTEB 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 VTEB: Differences, Returns & Fees

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Over the year to Oct 28, 2026, PFF returned −4.2% to VTEB's −0.4%, and VTEB 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 $49.6bn on Sep 30, 2026 for Vanguard Tax-Exempt Bond ETF.

PFF on its own →VTEB on its own →

At a glance

−4.2%

PFF total return, 1 year

−0.4%

VTEB total return, 1 year

0.45%

PFF expense ratio

0.03%

VTEB expense ratio

Pair scorecard

VTEB costs 0.42 points a year less; their one-year returns differ by 3.8 points; VTEB is 4.0 times larger.

PFF vs VTEB: Differences, Returns & Fees
Measure	PFF	VTEB
Return
Measure	PFF	VTEB
Total return, 1 year	−4.2%	−0.4%
Drawdown
Measure	PFF	VTEB
Below its high	7.1%, high on May 8, 2026
Benchmark
Measure	PFF	VTEB
What it tracks	ICE Exchange-Listed Preferred & Hybrid Securities Index	S&P National AMT-Free Municipal Bond Index
Cost and size
Measure	PFF	VTEB
Expense ratio	0.45%	0.03%
Net assets, as of Sep 30, 2026	$12.3bn	$49.6bn
Holdings
Measure	PFF	VTEB
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 Jun 30, 2026 and Jul 31, 2026. Method

What they share

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

0% in common

Positions both hold · largest shared weight first PFF VTEB

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 VTEB

NEW YORK CITY-F-1-REF, due Aug 1, 2034 0.12%

CA REGENTS UNIV-CD, due May 15, 2036 0.11%

IDAHO ST-TANS, due Jun 30, 2027 0.10%

CA REF, due Aug 1, 2032 0.10%

MARYLAND ST-GROUP 2, due Jun 1, 2038 0.09%

NY ST THRUWAY AUTH-A, due Sep 15, 2035 0.09%

TRIBOROUGH BRIDGE-A-1, due Feb 1, 2028 0.09%

DALLAS ISD-B, due Feb 15, 2056 0.08%

Check overlap with more funds →

Side by side

PFF iShares Preferred and Income Securities ETF VTEB Vanguard Tax-Exempt Bond 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 Tax-Exempt Bond

Total return, 1 year −4.2% −0.4%

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% 0.03%

Holdings 453 11155

Net assets, PFF as of Oct 27, 2026 and VTEB as of Sep 30, 2026 $11.8bn $49.6bn

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

Alert

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.

VTEB

VTEB tracks an index of Tax-Exempt Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested. The prospectus expense ratio is 0.03% a year.

Questions people ask

Which returned more over the last year, PFF or VTEB?: In the year to Oct 28, 2026, with distributions reinvested, PFF returned −4.2% and VTEB −0.4%.
Which is cheaper, PFF or VTEB?: VTEB 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

MUB vs PFF HYMB vs PFF IUSB vs PFF PFF vs VCIT EMB vs VTEB BINC vs VTEB BOND vs VTEB EDV vs VTEB

Where to next

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

Sources and dates

PFF filings on SEC EDGAR ↗

PFF prospectus with the expense ratio (SEC) ↗

iShares page for PFF ↗

VTEB filings on SEC EDGAR ↗

VTEB prospectus with the expense ratio (SEC) ↗

Vanguard page for VTEB ↗

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

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