Data as of Oct 28, 2026.
PFFD vs PREF: Differences, Returns & Fees
Over the year to Oct 28, 2026, PFFD returned −6.2% to PREF's +0.6%, and PFFD charges 0.23% to PREF's 0.55%.
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Net assets: $2.0bn on Oct 12, 2026 for Global X U.S. Preferred ETF, and $1.9bn on Oct 26, 2026 for Principal Spectrum Preferred Securities Active ETF.
Pair scorecard
PFFD costs 0.32 points a year less; their one-year returns differ by 6.8 points; PFFD is 1.1 times larger.
| Measure | PFFD | PREF |
|---|---|---|
| Return | ||
| Total return, 1 year | −6.2% | +0.6% |
| Drawdown | ||
| Below its high | 10.5%, high on Nov 5, 2021 | |
| Benchmark | ||
| What it tracks | ICE BofA Diversified Core U.S. Preferred Securities Index | No index, actively managed |
| Cost and size | ||
| Expense ratio | 0.23% | 0.55% |
| Net assets, as of Oct 12, 2026 | $2.0bn | $1.9bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 21.2% | 20.1% |
Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026. Method
Risk and return
Sep 22, 2017 to Oct 23, 2026 · 474 weekly returnsPREF returned more: +39.1% to +16.8%. PREF swung less: 8.5% to 12.9%. PREF fell less at its worst: −23.0% to −26.1%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | PFFD | PREF | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +16.8% | +39.1% | PREF | Price change plus distributions, reinvested. |
| Annualized | +1.7% | +3.7% | PREF | Total return as a yearly rate. |
| Price return | −31.8% | −9.8% | PREF | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 12.9% | 8.5% | PREF | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 9.0% | 6.9% | PREF | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −26.1% | −23.0% | PREF | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.01 | 0.15 | PREF | Return above Treasury bills per unit of volatility. |
| Sortino | −0.02 | 0.19 | PREF | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.07 | 0.16 | PREF | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 474 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, PFFD and PREF hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.
half
0% in common
Only in one fund ↓
Side by side
PFFD and PREF on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
PFFD and PREF are built for the same job. How do they differ in cost, holdings and results?
- What each follows. PFFD follows ICE BofA Diversified Core U.S. Preferred Securities Index and PREF follows No index, actively managed.
- Holdings in common. 0% of the weight is in the same securities (holdings dated May 31, 2026 and Jun 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 PFFD returned −6.2% and PREF +0.6% with distributions reinvested, a gap of 6.8 points.
Data as of Oct 28, 2026.
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PFFD
PFFD tracks an index. Over the year to Oct 28, 2026 it returned −6.2% with distributions reinvested. The prospectus expense ratio is 0.23% a year. By its holdings filed for May 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 224 positions, with the top ten at 21.2%. It sat 10.5% below its high of Nov 5, 2021 on Oct 28, 2026.
PREF
PREF is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +0.6% with distributions reinvested. The prospectus expense ratio is 0.55% a year. By its holdings filed for Jun 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 160 positions, with the top ten at 20.1%.
Questions people ask
- Which returned more over the last year, PFFD or PREF?
- In the year to Oct 28, 2026, with distributions reinvested, PFFD returned −6.2% and PREF +0.6%.
- Which is cheaper, PFFD or PREF?
- PFFD is cheaper, by 0.32 percentage points a year. That is about $32 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, PFFD against PREF, data as of Oct 28, 2026. https://etfiq.com/compare/any/pffd-vs-pref
ETFIQ. (Oct 28, 2026). PFFD against PREF. Retrieved from https://etfiq.com/compare/any/pffd-vs-pref
[PFFD against PREF (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/pffd-vs-pref)
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