PFF vs PFLD
iShares Preferred and Income Securities ETF vs AAM Low Duration Preferred and Income Securities ETF
Which is better, PFF or PFLD?
PFLD has been ahead.
PFLD led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PFF | PFLD |
|---|---|---|
| Expense Ratio | 0.45%Tie | 0.45%Tie |
| AUM | $11.5B | $365M |
| Dividend Yield | 5.69% | 5.59% |
| Holdings | 915 | 667 |
| YTD Return | -5.96% | +2.01%Best |
| 1Y Return | -4.27% | +2.93%Best |
| 3Y Return (annualized) | +4.27% | +4.29%Best |
| 5Y Return (annualized) | -0.75% | +0.65%Best |
| Volatility (annualized) | 11.7% | 9.0%Best |
| Max Drawdown | -34.4% | -33.5%Best |
| $10,000 over 5 years | $9,631 | $10,329Best |
| Fund Family | iShares by BlackRock (US) | Advisors Asset Management, Inc. |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Preferred Stock | Preferred Stock |
| Inception | Mar 26, 2007 | Nov 19, 2019 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Nov 20, 2019 to Nov 6, 2026 (7 years).
PFF vs PFLD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 7 years both funds cover.
PFF vs PFLD Performance
iShares Preferred and Income Securities ETF (PFF) is an ETF from iShares by BlackRock (US) and AAM Low Duration Preferred and Income Securities ETF (PFLD) is an ETF from Advisors Asset Management, Inc.. Over the past year PFF returned -4.27% while PFLD returned +2.93%. Year to date, PFF is down 5.96% versus a gain of 2.01% for PFLD.
Over three years, PFF compounded at +4.27% per year against +4.29% for PFLD; over five years the annualized figures are -0.75% and +0.65% respectively. Across the full 7-year window we track, PFLD has the edge at +1.11% annualized vs +0.75%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PFF has been the more volatile fund, with annualized monthly volatility of 11.7% compared with 9.0% for PFLD. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.4% for PFF and -33.5% for PFLD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
PFF charges 0.45% per year while PFLD charges 0.45%. On a $10,000 position that is $45 vs $45 annually. On income, PFF currently yields 5.69% against 5.59% for PFLD.
Holdings Overlap
We hold position weights for 215 holdings in PFF and 264 in PFLD, totalling 60.2% and 76.2% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 14 positions appear in both.
14 positions in common, counted across the 215 positions we hold weights for in PFF and 264 in PFLD, against full books of 915 and 667.
Top Shared Holdings
| Stock | Weight in PFF | Weight in PFLD | Difference |
|---|---|---|---|
| CCitigroup Inc. | 1.20% | 0.29% | 0.91% |
| GSGoldman Sachs Group Inc/The | 0.51% | 0.31% | 0.20% |
| ATHAthene Holdings 7.25%/Var Pfd 03/30/2064 | 0.40% | 0.26% | 0.14% |
| DUKDuke Energy Corp | 0.44% | 0.21% | 0.23% |
| BKBank Of New York Mellon Corp | 0.24% | 0.23% | 0.01% |
| CHSCPChs Inc | 0.28% | 0.15% | 0.13% |
| FCNCAFirst Citizens BancShares Inc | 0.18% | 0.19% | 0.01% |
| AQNBAlgonquin Pwr & Utility | 0.18% | 0.18% | 0.00% |
| CFGCitizens Financial Group Inc. | 0.20% | 0.11% | 0.09% |
| WAL.PR.AWestern Alliance Bancorp | 0.15% | 0.14% | 0.01% |
You are not choosing between two funds in isolation.
Whichever of PFF and PFLD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PFF or PFLD?
PFF has an expense ratio of 0.45% while PFLD charges 0.45%. At the precision these are quoted to, they cost the same.
Which performed better, PFF or PFLD?
Over the past year PFF returned -4.27% vs +2.93% for PFLD, so PFLD leads on 1-year performance. Over the longest common window we track (7 years), PFF annualized +0.75% vs +1.11% for PFLD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PFF or PFLD?
PFF has been the more volatile fund at 11.7% annualized versus 9.0% for PFLD. Worst drawdown: PFF -34.4% vs PFLD -33.5%.
Should I hold both PFF and PFLD?
PFF and PFLD have a monthly-return correlation of 0.92, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, PFF or PFLD?
PFF yields 5.69% while PFLD yields 5.59%, so PFF currently pays the higher dividend yield.
Is PFLD better than PFF?
PFLD led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.92. Which one suits a particular account depends on what it is for. This is information, not a recommendation.