PFFA vs SPY
Virtus InfraCap US Preferred Stock ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, PFFA or SPY?
Preferred Stock against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. PFFA is less concentrated, with 23.8% of the fund in its ten largest positions against 37.8%.
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 | PFFA | SPY |
|---|---|---|
| Expense Ratio | 2.11% | 0.09%Best |
| AUM | $2.5B | $804.7B |
| Dividend Yield | 9.82% | 0.98% |
| Holdings | 197 | 505 |
| YTD Return | +1.67% | +12.09%Best |
| 1Y Return | +1.58% | +16.29%Best |
| 3Y Return (annualized) | +11.40% | +21.20%Best |
| 5Y Return (annualized) | +5.72% | +13.37%Best |
| Volatility (annualized) | 24.9% | 16.6%Best |
| Max Drawdown | -70.7% | -34.1%Best |
| $10,000 over 5 years | $13,206 | $18,728Best |
| Top 10 Weight | 23.8%Best | 37.8% |
| Fund Family | Virtus Investment Partners | State Street Investment Management |
| Category | Allocation/Balanced | Equity |
| Style | Preferred Stock | Large Cap Blend |
| Inception | May 15, 2018 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 16, 2018 to Sep 18, 2026 (8.3 years).
PFFA vs SPY 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 8.3 years both funds cover.
PFFA vs SPY Performance
Virtus InfraCap US Preferred Stock ETF (PFFA) is an ETF from Virtus Investment Partners and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year PFFA returned +1.58% while SPY returned +16.29%. Year to date, PFFA is up 1.67% versus a gain of 12.09% for SPY.
Over three years, PFFA compounded at +11.40% per year against +21.20% for SPY; over five years the annualized figures are +5.72% and +13.37% respectively. Across the full 8-year window we track, SPY has the edge at +14.14% annualized vs +4.04%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PFFA has been the more volatile fund, with annualized monthly volatility of 24.9% compared with 16.6% for SPY. 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 -70.7% for PFFA and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
PFFA charges 2.11% per year while SPY charges 0.09%. On a $10,000 position that is $211 vs $9 annually, a gap of $202 per year that compounds over a long holding period. On income, PFFA currently yields 9.82% against 0.98% for SPY.
Holdings Overlap
0.8% of PFFA's money is in holdings SPY also owns. 0.5% of SPY's money is in holdings PFFA also owns.
We cannot see either book well enough to say how much of this pair is duplicated.
3 positions in common, counted across the 158 positions we hold weights for in PFFA and 504 in SPY, against full books of 197 and 505.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for PFFA (98.9% of the fund), and 138 for PFFA that do not appear in SPY (92.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of PFFA and SPY 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, PFFA or SPY?
PFFA has an expense ratio of 2.11% while SPY charges 0.09%. SPY is the cheaper option, by $202 a year on a $10,000 investment.
Which performed better, PFFA or SPY?
Over the past year PFFA returned +1.58% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), PFFA annualized +4.04% vs +14.14% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PFFA or SPY?
PFFA has been the more volatile fund at 24.9% annualized versus 16.6% for SPY. Worst drawdown: PFFA -70.7% vs SPY -34.1%.
Should I hold both PFFA and SPY?
PFFA and SPY have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, PFFA or SPY?
PFFA yields 9.82% while SPY yields 0.98%, so PFFA currently pays the higher dividend yield.
Is SPY better than PFFA?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. PFFA is less concentrated, with 23.8% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.