PFFA vs SPY
Virtus InfraCap US Preferred Stock ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | PFFA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 2.11% | 0.09% | |
| AUM | $2.4B | $789.1B | |
| Dividend Yield | 9.65% | 1.01% | |
| Holdings | 193 | 505 | |
| YTD Return | +1.67% | +13.79% | |
| 1Y Return | +7.31% | +23.66% | |
| 3Y Return (annualized) | +11.76% | +21.40% | |
| 5Y Return (annualized) | +5.55% | +13.37% | |
| Volatility (annualized) | 25.0% | 15.3% | |
| Max Drawdown | -70.7% | -56.5% | |
| Fund Family | Virtus Investment Partners | State Street Investment Management | |
| Category | Allocation/Balanced | Equity | |
| Inception | May 15, 2018 | Jan 22, 1993 |
PFFA vs SPY Performance
Virtus InfraCap US Preferred Stock ETF (PFFA) is a ETF from Virtus Investment Partners and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year PFFA returned +7.31% while SPY returned +23.66%. Year to date, PFFA is up 1.67% versus a gain of 13.79% for SPY.
Over three years, PFFA compounded at +11.76% per year against +21.40% for SPY; over five years the annualized figures are +5.55% and +13.37% respectively. Across the full 8-year window we track, SPY has the edge at +8.85% annualized vs +4.10%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PFFA has been the more volatile fund, with annualized monthly volatility of 25.0% compared with 15.3% 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 -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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 9.65% against 1.01% for SPY.
Holdings Overlap
PFFA and SPY share 1 holdings out of 525 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in PFFA | Weight in SPY | Difference |
|---|---|---|---|
| NEE | 0.00% | 0.28% | 0.28% |
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. On a $10,000 investment, that is $202 per year of difference.
Which performed better, PFFA or SPY?
Over the past year PFFA returned +7.31% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (8 years), PFFA annualized +4.10% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, PFFA or SPY?
PFFA has been the more volatile fund at 25.0% annualized versus 15.3% for SPY. Worst drawdown: PFFA -70.7% vs SPY -56.5%.
Should I hold both PFFA and SPY?
PFFA and SPY have a monthly-return correlation of 0.72, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between PFFA and SPY?
PFFA and SPY share 1 common holdings with a 0.0% weight overlap. Combined, they hold 525 unique securities.
Which pays a higher dividend, PFFA or SPY?
PFFA yields 9.65% while SPY yields 1.01%, so PFFA currently pays the higher dividend yield.
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