Data as of Oct 28, 2026.
PFXF vs VRP: Differences, Returns & Fees
Over the year to Oct 28, 2026, PFXF returned +0.5% to VRP's +1.6%, and PFXF charges 0.40% to VRP's 0.50%.
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Net assets on Oct 27, 2026: $2.2bn for VanEck Preferred Securities ex Financials ETF and $3.0bn for Invesco Variable Rate Preferred ETF.
Pair scorecard
PFXF costs 0.10 points a year less; their one-year returns differ by 1.1 points; VRP is 1.4 times larger.
| Measure | PFXF | VRP |
|---|---|---|
| Return | ||
| Total return, 1 year | +0.5% | +1.6% |
| Drawdown | ||
| Below its high | 8.4%, high on Jun 2, 2026 | |
| Benchmark | ||
| What it tracks | ICE Exchange-Listed Fixed & Adjustable Rate Non-Financial Preferred Securities Index | ICE Variable Rate Preferred & Hybrid Securities Index |
| Cost and size | ||
| Expense ratio | 0.40% | 0.50% |
| Net assets, as of Oct 27, 2026 | $2.2bn | $3.0bn |
| Holdings | ||
| Holdings in common | 3% | |
| Top ten holdings, share of the fund | 46.1% | 9.1% |
Holdings in common uses holdings dated May 31, 2026 and Jun 30, 2026. Method
Risk and return
May 9, 2014 to Oct 23, 2026 · 650 weekly returnsVRP returned slightly more: +79.9% to +74.5%. VRP swung less: 10.9% to 12.5%. PFXF fell slightly less at its worst: −29.2% to −30.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | PFXF | VRP | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +74.5% | +79.9% | VRP (slight) | Price change plus distributions, reinvested. |
| Annualized | +4.6% | +4.8% | VRP (slight) | Total return as a yearly rate. |
| Price return | −18.0% | −5.8% | VRP | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 12.5% | 10.9% | VRP | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 8.7% | 7.7% | VRP | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −29.2% | −30.8% | PFXF (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.26 | 0.30 | VRP | Return above Treasury bills per unit of volatility. |
| Sortino | 0.37 | 0.42 | VRP | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.16 | 0.16 | Tie | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 650 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, PFXF and VRP hold 3% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jun 30, 2026.
half
3% in common
Only in one fund ↓
Side by side
PFXF and VRP on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
PFXF and VRP are built for the same job. How do they differ in cost, holdings and results?
- What each follows. PFXF follows ICE Exchange-Listed Fixed & Adjustable Rate Non-Financial Preferred Securities Index and VRP follows ICE Variable Rate Preferred & Hybrid Securities Index.
- Holdings in common. 3% of the weight is in the same securities (holdings dated Jun 30, 2026 and May 31, 2026).
- Number of holdings. PFXF holds 116 positions and VRP holds 367.
Data as of Oct 28, 2026.
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PFXF
PFXF tracks an index. Over the year to Oct 28, 2026 it returned +0.5% with distributions reinvested. The prospectus expense ratio is 0.40% 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 116 positions, with the top ten at 46.1%. It sat 8.4% below its high of Jun 2, 2026 on Oct 28, 2026.
VRP
VRP tracks an index. Over the year to Oct 28, 2026 it returned +1.6% with distributions reinvested. The prospectus expense ratio is 0.50% 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 367 positions, with the top ten at 9.1%.
Questions people ask
- Which returned more over the last year, PFXF or VRP?
- In the year to Oct 28, 2026, with distributions reinvested, PFXF returned +0.5% and VRP +1.6%.
- Which is cheaper, PFXF or VRP?
- PFXF is cheaper, by 0.10 percentage points a year. That is about $10 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, PFXF against VRP, data as of Oct 28, 2026. https://etfiq.com/compare/any/pfxf-vs-vrp
ETFIQ. (Oct 28, 2026). PFXF against VRP. Retrieved from https://etfiq.com/compare/any/pfxf-vs-vrp
[PFXF against VRP (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/pfxf-vs-vrp)
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