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GPRF vs PFF

Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF

GPRFBNasdaq

iShares Preferred and Income Securities ETF

PFFANasdaq

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

GPRF0.45%PFF0.45%

Avg volume · 30D

PFF 119.4×the volume

GPRF25.5KPFF3.04M

GPRF vs PFF Performance

Oct 31, 2025 – Oct 30, 2026

−1.3%GPRF−3.8%PFF

Oct 31, 2025 to Oct 30, 2026. GPRF −1.3%. PFF −3.8%. Use the arrow keys to read each point.0%2%4%Oct 2025Apr 2026Oct 2026
Expense ratio
GPRF 0.45%
PFF 0.45%
Fund size
GPRF $167M
PFF $11.7B
1Y total return
GPRF −1.3%, better
PFF −3.8%
Yield (12M)
GPRF 5.87%, better
PFF 5.73%
Holdings
GPRF 538
PFF 452
Avg volume (30D)
GPRF 25.5K sh
PFF 3.04M sh, better
NAV per share
GPRF $47.79
PFF $28.50
52W range

ETF.net Grade

GPRF: Cost 73, Risk 51, Mission 48, Tradability 45, Holdings 82, Durability 43. PFF: Cost 73, Risk 30, Mission 80, Tradability 92, Holdings 64, Durability 97.
Pillar letters and Scores for GPRF, PFF, with each pillar’s weight
PillarGPRFPFF
Cost30% weightA73A73
Mission25% weightC48A80Higher
Risk15% weightC51HigherD30
Tradability15% weightC45A92Higher
Holdings10% weightA82HigherB64
Durability5% weightC43A97Higher

Rank among Preferred Securities funds

Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. GPRF and PFF are both graded against the same 31 Preferred Securities funds, so their Grades compare head to head.

Preferred Securities⁠

Category · 31 funds
See all 31 ›

PFF ranks 2nd and GPRF 10th of 31 funds in the Preferred Securities Category.

  1. Rank 1APFFDGlobal X U.S. Preferred ETFScore 73
  2. Rank 2APFFiShares Preferred and Income Securities ETFScore 71
  3. Rank 3BEVPFEaton Vance Preferred Securities and Income ETFScore 68
  4. Rank 10BFPEFirst Trust Preferred Securities and Income ETFScore 58
  5. Rank 10BGPRFGoldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETFScore 58
  6. Rank 10BPREFPrincipal Spectrum Preferred Securities Active ETFScore 58

Our read on each fund

ETF.net Research

GPRFBGoldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF

PFFAiShares Preferred and Income Securities ETF

In short

GPRF Goldman's 2024 entry into preferred stock: roughly 400 U.S. preferreds and hybrids, the slice of the market that sits between bonds and common shares, bundled at 0.45% a year and paid out monthly.

PFF Preferred stock is a clumsy market to shop one issue at a time. PFF, running since 2007, bundles roughly 500 US dollar preferreds and hybrids into a single heavily traded ticker and pays out monthly.

Stated mandate

GPRF Invests primarily in U.S. preferred stocks and hybrid securities.

PFF The fund seeks to track an index of U.S. dollar-denominated preferred and hybrid securities, providing exposure to preferred stock and subordinated debt with an income-oriented mandate.

Why people hold it

  • GPRF At 0.45% a year it sits at the cheap end of the preferred aisle, matching State Street's PSK and running well under actively run options like FPE at 0.83%.
  • Roughly 400 positions spread the credit exposure across many issuers rather than a handful of big deals, and the portfolio build is a strength versus preferred-fund peers.
  • Income lands monthly, not quarterly, which is the cadence most preferred-stock buyers are actually after.
  • A rules-based index basket of U.S. preferreds and hybrids: one ticket instead of hunting individual bank and utility issues on a thin over-the-counter desk.gsam.com
  • PFF One ticker buys roughly 500 US dollar preferreds and hybrids tracking the ICE Exchange-Listed Preferred & Hybrid Securities Index, a corner most investors can't assemble issue by issue.
  • Distributions land monthly rather than quarterly, a steadier rhythm for anyone spending the income.
  • A multi-billion-dollar fund that trades actively, so getting in and out is rarely the hard part.
  • Live since 2007, through the financial crisis and several rate cycles, with the same income-oriented mandate from a large index shop.

Worth knowing

  • GPRF Still a small fund and lightly traded next to the category's giants, so spreads can be wider and limit orders matter more, especially around the open and close.
  • Launched in 2024, so it carries a shorter live record than the decade-plus incumbents in preferreds.
  • Preferreds are treated as fixed income here: prices move on interest rates and issuer credit, so this is an income sleeve rather than an equity growth holding.
  • PFF 0.45% a year is the going rate in this niche (the peer median), but it's many times what broad stock index trackers like VT charge.
  • Preferreds and subordinated debt are hybrids: they rank below an issuer's senior bonds, so this trades on credit and rate conditions more than on earnings growth.
  • The mandate is US dollar issuers only, so there's no international preferred exposure here.

Full GPRF profile⁠

Full PFF profile⁠

GPRF vs PFF Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

GPRF vs PFF Cost

Same expense ratio

$9,041

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • GPRF 0.45%

    $9,041

  • PFF 0.45%

    $9,041

$10,000
30 years

Cost over time

  • GPRF 0.45%
  • PFF 0.45%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530GPRF $9,041PFF $9,041

Year by year

YearGPRFPFF
10$812$812
20$3,128$3,128
30$9,041$9,041

Expense ratio

  • 0.45%GPRF
  • 0.45%PFF
  • Middle half of Preferred Securities funds
  • Median 0.50%

GPRF 6th cheapest of 31 funds

PFF 6th cheapest of 31 funds

GPRF vs PFF Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
GPRF 5.87%, better
PFF 5.73%
Payout (12M)
GPRF $2.81
PFF $1.63
Last payment
GPRF $0.27
PFF $0.16
Ex-dividend
GPRF Oct 1, 2026
PFF Oct 1, 2026
Paid on
GPRF Oct 7, 2026
PFF Oct 6, 2026
Frequency
GPRF Monthly
PFF Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

GPRFMonthly · 26 paymentsAll GPRF payments⁠
One bar per payment. 26 payments from 2023 to 2026 YTD. Sep 3, 2024 $0.14; Oct 1, 2024 $0.07; Nov 1, 2024 $0.22; Dec 2, 2024 $0.20; Dec 31, 2024 $0.42; Feb 3, 2025 $0.24; Mar 3, 2025 $0.19; Apr 1, 2025 $0.28; May 1, 2025 $0.20; Jun 2, 2025 $0.21; Jul 1, 2025 $0.28; Aug 1, 2025 $0.21; Sep 2, 2025 $0.21; Oct 1, 2025 $0.27; Nov 3, 2025 $0.21; Dec 1, 2025 $0.19; Dec 31, 2025 $0.22; Feb 2, 2026 $0.40; Mar 2, 2026 $0.06; Apr 1, 2026 $0.31; May 1, 2026 $0.24; Jun 1, 2026 $0.21; Jul 1, 2026 $0.27; Aug 3, 2026 $0.21; Sep 1, 2026 $0.21; Oct 1, 2026 $0.27. Use the arrow keys to read each point.$0$0.5020232026YTD
PFFMonthly · 45 paymentsAll PFF payments⁠
One bar per payment. 45 payments from 2023 to 2026 YTD. Feb 1, 2023 $0.19; Mar 1, 2023 $0.19; Apr 3, 2023 $0.19; May 1, 2023 $0.17; Jun 1, 2023 $0.17; Jul 3, 2023 $0.16; Aug 1, 2023 $0.16; Sep 1, 2023 $0.15; Oct 2, 2023 $0.16; Nov 1, 2023 $0.17; Dec 1, 2023 $0.18; Dec 14, 2023 $0.19; Feb 1, 2024 $0.18; Mar 1, 2024 $0.17; Apr 1, 2024 $0.16; May 1, 2024 $0.16; Jun 3, 2024 $0.16; Jul 1, 2024 $0.16; Aug 1, 2024 $0.16; Sep 3, 2024 $0.16; Oct 1, 2024 $0.17; Nov 1, 2024 $0.17; Dec 2, 2024 $0.16; Dec 18, 2024 $0.18; Feb 3, 2025 $0.18; Mar 3, 2025 $0.17; Apr 1, 2025 $0.17; May 1, 2025 $0.17; Jun 2, 2025 $0.17; Jul 1, 2025 $0.17; Aug 1, 2025 $0.16; Sep 2, 2025 $0.16; Oct 1, 2025 $0.17; Nov 3, 2025 $0.17; Dec 1, 2025 $0.18; Dec 19, 2025 $0.07; Feb 2, 2026 $0.18; Mar 2, 2026 $0.03; Apr 1, 2026 $0.14; May 1, 2026 $0.14; Jun 1, 2026 $0.14; Jul 1, 2026 $0.14; Aug 3, 2026 $0.14; Sep 1, 2026 $0.15; Oct 1, 2026 $0.16. Use the arrow keys to read each point.$0$0.5020232026YTD

GPRF vs PFF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
GPRF 4.1%since Sep 2024PFF 8.5%
Return per unit of riskSharpe ratio, 3 years
GPRF −0.41since Sep 2024PFF 0.22
Worst fallMax drawdown, 5 years
GPRF −4.4%since Aug 2024PFF −21.1%
Market sensitivityBeta, 5 years
GPRF 0.24PFF 0.97

GPRF and PFF in the news

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