PFF — iShares Preferred and Income Securities ETF

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.

Overview

The iShares Preferred and Income Securities ETF (PFF) is a $12.3 billion fund issued by iShares, tracking the Preferred & Convertible category. It holds a C grade with a score of 51.1 out of 100, placing it fourth among eight peers in its category and 365th of 458 tracked ETFs overall. The fund charges an expense ratio of 0.45%, which is slightly above the category median of 0.425%. Its dividend yield of 5.67% trails the category median of 6.35%, while its top ten holdings represent only 19.6% of assets, with Boeing Company (The) as the largest single position at 3.9%.

Price action shows the fund trading at $28.77, near the bottom of its 52-week range at just 2.7% above the low. Short-term returns are negative across one day, one week, one month, and three months, with the one-year return of -3.57% underperforming the category median of -3.00%. This recent weakness contrasts with a positive three-year return of +21.34%, though the fund has only three years of price history available. The ETFValuer grade has remained unchanged at C for the last 35 tracked days, indicating a stable but mediocre assessment.

The fund exhibits a beta of 0.98 and an annualized volatility of 7.64%, which is labeled as Very Low. Despite this low volatility, the Sharpe ratio is negative at -1.12, reflecting the recent underperformance relative to the risk-free rate. A maximum drawdown of -10.63% highlights the extent of recent losses, while average daily volume of 3,017,979 shares suggests ample liquidity for trading.

AI-generated summary based on the data on this page.

PFF Top Holdings

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).

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: 4.96% (as of 2026-10-22) — 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): 19.03 (as of 2026-10-22) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

PFF Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 3.0M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $12.3B 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

How PFF Compares to Other Preferred & Convertible ETFs