PFF — iShares Preferred and Income Securities ETF
Preferred & Convertible Ranked #358 of 458 tracked ETFs · Issued by iShares
PFF Price Performance — Growth of $10,000
Value of a $10,000 investment in PFF over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
PFF Drawdown
The "underwater" chart: PFF's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in PFF?
See what a lump sum in PFF would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The iShares Preferred and Income Securities ETF (PFF) is a $13.0 billion fund issued by iShares, ranked 4 of 8 within the Preferred & Convertible category and #358 overall. It carries an ETFValuer grade of C with a score of 52.2/100, reflecting a 0.45% expense ratio that sits slightly above the category median of 0.425%. The fund offers a 6.00% dividend yield, which trails the category median of 6.26%. Top 10 holdings comprise 19.6% of assets, with the largest position being Boeing Company (The) at 3.9%.
Over the past year, the fund returned +1.63%, underperforming the category median of +2.45%. Short-term momentum has been mixed, with a 1D gain of 0.00% contrasting against a 1W decline of -0.11% and a 1M drop of -0.04%. Longer-term performance shows a 3Y return of +20.10%, while year-to-date gains stand at +0.48%. The share price of $30.36 places the fund at 13.6% of its 52-week range. The rating has remained unchanged at grade C across the last 35 tracked days, based on 3.0 years of price history.
With a beta of 0.95, the fund moves in line with the broader market, exhibiting a volatility of 7.46% annualised, which is labelled Very Low. A Sharpe ratio of -0.45 indicates that risk-adjusted returns have been negative relative to the risk taken. The maximum drawdown recorded is -10.63%, highlighting the extent of recent peak-to-trough declines. Liquidity is supported by an average daily volume of 2,840,371 shares, though the bid/ask spread of 6.69% suggests higher trading costs.
AI-generated summary based on the data on this page.
PFF Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | BOEING COMPANY (THE) | 3.93% | $515M |
| 2 | STRATEGY INC | 2.95% | $386M |
| 3 | WELLS FARGO & COMPANY | 2.33% | $306M |
| 4 | ORACLE CORP | 2.28% | $299M |
| 5 | HEWLETT PACKARD ENTERPRISE COMPANY | 1.76% | $231M |
| 6 | BANK OF AMERICA CORP | 1.45% | $189M |
| 7 | CITIGROUP CAPITAL XIII | 1.31% | $172M |
| 8 | ALBEMARLE CORP | 1.29% | $170M |
| 9 | MICROCHIP TECHNOLOGY INC | 1.16% | $152M |
| 10 | NEXTERA ENERGY INC | 1.12% | $147M |
Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 19.6% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how PFF's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With PFF
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with PFF's top 10 — PFFD overlaps most, holding 7 of the same companies as PFF's top 10 (13.1% of PFF's assets).
| ETF | Name | Shared Companies | PFF Weight | Examples |
|---|---|---|---|---|
| PFFD | Global X U.S. Preferred ETF | 7 | 13.1% | BOEING COMPANY (THE), WELLS FARGO & COMPANY, HEWLETT PACKARD ENTERPRISE COMPANY… |
| PFXF | VanEck Preferred Securities ex Financials ETF | 6 | 12.7% | BOEING COMPANY (THE), STRATEGY INC, ORACLE CORP… |
| CWB | State Street SPDR Bloomberg Convertible Securities ETF | 3 | 8.6% | BOEING COMPANY (THE), WELLS FARGO & COMPANY, ORACLE CORP |
| VCSH | Vanguard Short-Term Corporate Bond Index Fund ETF Shares | 3 | 7.7% | BOEING COMPANY (THE), WELLS FARGO & COMPANY, BANK OF AMERICA CORP |
| VCIT | Vanguard Intermediate-Term Corporate Bond Index Fund ETF Shares | 3 | 7.7% | BOEING COMPANY (THE), ORACLE CORP, BANK OF AMERICA CORP |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.77% (as of 2026-09-03) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 14.32 (as of 2026-09-03) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What PFF's Fees Cost You
PFF charges an expense ratio of 0.45% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
PFF Dividend Income Estimator
PFF currently yields 6.00%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
PFF Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 6.69% and average daily volume is 2.8M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $13.0B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: PFF is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
PFF Performance History
| Period | Return |
|---|---|
| 1-Day | 0.00% |
| 1-Week | -0.11% |
| 1-Month | -0.04% |
| 3-Month | -0.38% |
| 6-Month | +0.30% |
| YTD | +0.48% |
| 1-Year | +1.63% |
| 3-Year | +20.10% |
How PFF Compares to Other Preferred & Convertible ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #104 | B |
ICVT | iShares Convertible Bond ETF | +23.52% | 0.2% | $7.81B |
| #172 | C |
CWB | State Street SPDR Bloomberg Convertible Securities ETF | +21.59% | 0.4% | $5.61B |
| #320 | C |
PFXF | VanEck Preferred Securities ex Financials ETF | +8.17% | 0.4% | $2.42B |
| #358 | C |
PFF | iShares Preferred and Income Securities ETF | +1.63% | 0.45% | $13.0B |
| #382 | C |
FPE | First Trust Preferred Securities and Income ETF | +3.27% | 0.83% | $6.29B |
| #385 | C |
PFFD | Global X U.S. Preferred ETF | +0.50% | 0.23% | $2.15B |
| #410 | D |
PGX | Invesco Preferred ETF | -3.49% | 0.5% | $3.73B |
| #418 | D |
PSK | State Street SPDR ICE Preferred Securities ETF | -3.98% | 0.45% | $677M |