JPRF vs PFF: Grades, Fees and Holdings Compared

JPMorgan Preferred and Income Securities ETF

JPRFCNYSE Arca

iShares Preferred and Income Securities ETF

PFFANasdaq

Overlap

6.8%by weight

Expense ratio

PFF −0.16pt a year

JPRF0.61%PFF0.45%

Avg volume · 30D

PFF 18.8×the volume

JPRF162KPFF3.04M

JPRF vs PFF Performance

Jul 31, 2026 – Oct 30, 2026

−2.1%JPRF−5.2%PFF

Expense ratio: JPRF 0.61%; PFF 0.45%, better
Fund size: JPRF $2.2B; PFF $11.7B
1Y total return: JPRF No data; PFF −3.8%
Yield (12M): JPRF No data; PFF 5.73%
Holdings: JPRF 200; PFF 452
Avg volume (30D): JPRF 162K sh; PFF 3.04M sh, better
NAV per share: JPRF $48.15; PFF $28.50
52W range

ETF.net Grade

Pillar letters and Scores for JPRF, PFF, with each pillar’s weight
Pillar	JPRF	PFF
Cost30% weight	F20	A73Higher
Mission25% weight	Not scored	A80
Risk15% weight	C47Higher	D30
Tradability15% weight	B56	A92Higher
Holdings10% weight	B56	B64Higher
Durability5% weight	A74	A97Higher

Rank among Preferred Securities funds

How we build Categories ›

Same Category. JPRF 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 JPRF 27th of 31 funds in the Preferred Securities Category.

Rank 1APFFDGlobal X U.S. Preferred ETFScore 73
Rank 2APFFiShares Preferred and Income Securities ETFScore 71
Rank 3BEVPFEaton Vance Preferred Securities and Income ETFScore 68
Rank 26CPFFRInfraCap REIT Preferred ETFScore 44
Rank 27CJPRFJPMorgan Preferred and Income Securities ETFScore 41
Rank 27CQTPINorth Square RCIM Tax-Advantaged Preferred and Income Securities ETFScore 41

Our read on each fund

ETF.net Research

JPRFCJPMorgan Preferred and Income Securities ETF

PFFAiShares Preferred and Income Securities ETF

In short

JPRF No data

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

JPRF No data

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

JPRF No data

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

JPRF No data

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 JPRF profile⁠

Full PFF profile⁠

JPRF vs PFF Holdings

How JPRF and PFF differ

Overlap by weight

6.8%

Shared holdings make up 11.5% of PFF and 9.8% of JPRF.

Level by level

Asset classFixed Income, Equity0.0%
Holdings36 in both6.8%
Countryby domicile59.5%

Sector

No Sector split for JPRF.

Country, concentration and asset class

Country by domicile

Country weights in JPRF and PFF, widest gap first
Country	More in JPRFMore in PFF	JPRF	PFF
United States	PFF +40.5 points	59.5%	100.0%
United Kingdom	JPRF +10.8 points	10.8%	0.0%
Canada	JPRF +10.1 points	10.1%	0.0%
France	JPRF +6.2 points	6.2%	0.0%
Spain	JPRF +5.0 points	5.0%	0.0%
Switzerland	JPRF +3.5 points	3.5%	0.0%
Netherlands	JPRF +2.3 points	2.3%	0.0%
Germany	JPRF +1.1 points	1.1%	0.0%
Other countries (6)	JPRF +1.5 points	1.5%	0.0%

Outside the US: JPRF 100% developed, 0% emerging.

Concentration

Weight in the 10 largest Holdings

JPRF22.4%
PFF22.0%

Securities held

JPRF173
PFF448

Asset class

JPRF: Fixed Income
PFF: Equity

Holdings

Only in JPRF137
In both36
Only in PFF412

Only in JPRF

137 securities, 90.3% of JPRF by weight

Goldman Sachs Var 12/493.41%
JPMorgan Prime Money3.16%
Bnp Paribas SA Var 12/493.15%
Invesco Preferred Etf Etp2.89%
Hsbc Holdings Var 12/492.89%
Banco Santander Var 12/492.73%
Ubs Group AG Var 12/492.56%
Natwest Group Var 12/491.98%
Wells Fargo & Var 12/491.97%
Standard Var 12/491.91%
Charles Schwab Var1.88%
Citigroup Inc Var 12/491.83%
Ing Groep NV Var 12/491.67%
Pnc Financial Var 12/491.63%
Bank of America Var 05/491.54%
State Street Corp Var1.28%
Bank of America Corp Var1.25%
Banco Bilbao Var 12/491.23%
Lloyds Banking Var 12/491.20%
Truist Financial Corp Var1.18%
Toronto-Dominio Var 10/851.13%
Bank of New York Var1.08%
Nextera Energy 06/851.08%
Citigroup Inc Var1.01%
Societe Generale SA Var1.01%
Ilfc E-Capital Flt 12/651.00%
Energy Transfer Var 12/490.94%
Enbridge Inc Var 01/840.93%
Ubs Group AG Var 01/490.91%
Metlife Inc 9.25% 04/680.90%
Banco Bilbao Var 05/490.87%
Allianz SE Var 04/490.85%
Dominion Energy Var 02/560.85%
Barclays PLC Callable Var0.83%
Bank of America Var 12/490.81%
Fifth Third Bancorp Flt0.79%
Wells Fargo & Co Var0.79%
Nextera Energy 04/860.78%
Societe Var 12/490.76%
Bank of Var 11/860.75%
Citigroup Inc Var 02/490.74%
Royal Bank of Var 11/850.71%
Enbridge Inc Var 07/800.70%
Energy Transfer Var 02/560.69%
Metlife 7.875% 12/670.68%
Ing Groep NV Callable Var0.67%
Pnc Financial Var0.62%
Hsbc Holdings Var 03/760.61%
Bell Telephone Var 09/550.60%
Bp Capital Markets Var0.59%

Only in PFF

412 securities, 87.6% of PFF by weight

Strategy Inc3.45%
Boeing Co3.19%
Super Micro Computer Inc2.15%
Hewlett Packard Enterprise Conv Pr2.14%
Wells Fargo & Company Series L2.11%
Oracle Corporation2.11%
Alphabet Inc2.08%
Alphabet Inc2.05%
Nextera Energy Units1.77%
Nextera Energy Inc1.72%
Bank of America Corp1.43%
Citigroup Capital Xiii1.20%
Kkr & Co Inc1.07%
Microchip Technology Incorporated0.99%
Southern Company (The)0.99%
Duke Energy Corp0.97%
Albemarle Corp0.96%
Brightspring Health Services Units0.88%
JPMorgan Chase & Co0.86%
JPMorgan Chase & Co0.74%
JPMorgan Chase and Co Ds Repstg T0.65%
JPMorgan Chase Non-Cumulative Pref0.64%
Ares Management Corp0.63%
Bruker Corporation0.59%
PG&E Corporation0.55%
Ppl Corporation0.54%
Strive Inc0.54%
JPMorgan Chase Drc0.51%
Goldman Sachs Group Inc0.49%
Strategy Inc0.48%
Bank of America Corp0.46%
M&T Bank Corporation0.46%
Duke Energy Corp0.44%
Morgan Stanley0.43%
Bank Amer Ds Representing Non Cu0.43%
Allstate Corporation (The)0.42%
Morgan Stanley0.41%
Morgan Stanley Ds0.41%
Athene Holding Ds Representing P0.39%
Novanta Tangible Equity Units0.39%
Bank of America Corp0.38%
Pinnacle Financial Partners Non Cu0.38%
M T Bk Dep Int Perp Pfd Stk Ser J0.38%
Wells Fargo & Company0.38%
Citigroup Inc0.38%
Annaly Capital Management Inc0.37%
Strategy Inc0.37%
Reinsurance Group of America Incor0.36%
Strategy Inc0.36%
Us Bancorp0.34%

Weight gaps

All 36 Holdings in both funds, largest gap first.

Holding weights in JPRF and PFF, widest gap first
Holding	More in JPRFMore in PFF	JPRF	PFF
Morgan Stanley Callable	JPRF +0.69 points	1.09%	0.40%
Morgan Stanley Callable	JPRF +0.48 points	0.95%	0.47%
AT&T Inc Callable	JPRF +0.47 points	1.01%	0.54%
Morgan Stanley Callable	PFF +0.45 points	<0.01%	0.45%
Capital One Financial	PFF +0.44 points	0.06%	0.50%
AT&T Inc Callable 11/66TBB	PFF +0.44 points	0.04%	0.48%
Sce Trust Viii Callable	JPRF +0.41 points	0.55%	0.14%
Wells Fargo & Co	PFF +0.33 points	0.06%	0.39%
Morgan Stanley Callable	PFF +0.32 points	0.10%	0.42%
Southern Co/The 01/80SOJD	PFF +0.32 points	0.03%	0.35%
AT&T Inc Callable	PFF +0.30 points	0.09%	0.39%
Bank of America Corp	PFF +0.29 points	0.08%	0.37%
Wells Fargo & Co	JPRF +0.28 points	0.96%	0.68%
Charles Schwab Corp/The	PFF +0.28 points	0.04%	0.32%
Capital One Financial	PFF +0.27 points	0.13%	0.40%
Allstate Corp/The	PFF +0.21 points	0.10%	0.31%
Us Bancorp Callable	PFF +0.19 points	0.04%	0.23%
Bank of America Corp	PFF +0.19 points	0.10%	0.29%
Us Bancorp Callable	JPRF +0.18 points	0.32%	0.14%
Morgan Stanley Callable	JPRF +0.17 points	0.63%	0.46%
Charles Schwab Corp/The	PFF +0.16 points	0.03%	0.19%
Cms Energy Corp 03/79CMSD	JPRF +0.13 points	0.38%	0.25%
State Street Corp	PFF +0.12 points	0.08%	0.20%
Truist Financial Corp	JPRF +0.08 points	0.40%	0.32%
Arch Capital Group LtdACGLO	PFF +0.08 points	0.04%	0.12%
Bank of America Corp	PFF +0.08 points	0.17%	0.25%
Arch Capital Group LtdACGLN	PFF +0.07 points	0.08%	0.15%
Xcel Energy Inc 10/85XELLL	PFF +0.07 points	0.31%	0.38%
Dte Energy Co 10/85DTK	JPRF +0.06 points	0.31%	0.25%
Us Bancorp Public USD 25	PFF +0.05 points	0.17%	0.22%
Metlife Inc Callable	JPRF +0.04 points	0.38%	0.34%
Bank of America Corp	PFF +0.03 points	0.26%	0.29%
Lincoln National Corp	PFF +0.02 points	0.15%	0.17%
Fifth Third BancorpFITBO	JPRF +0.02 points	0.11%	0.09%
Metlife Inc Callable	JPRF +0.01 points	0.34%	0.33%
Sce Trust Vii Callable	PFF +0.01 points	0.23%	0.24%

All 199 JPRF holdings⁠All 453 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.

JPRF vs PFF Cost

Overpaying JPRF vs PFF

$2,957

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

JPRF 0.61%
$11,998
PFF 0.45%
$9,041

Amount$10,000

Years30 years

Cost over time

JPRF 0.61%
PFF 0.45%
Overpaying

Year by year

Year	JPRF	PFF	Overpaying
10	$1,093	$812	$281
20	$4,181	$3,128	$1,053
30	$11,998	$9,041	$2,957

Expense ratio

0.61%JPRF
0.45%PFF, cheaper

PFF0.45%JPRF0.61%

0.23%2.11%

Middle half of Preferred Securities funds
Median 0.50%

PFF 6th cheapest of 31 funds

JPRF 25th cheapest of 31 funds

JPRF vs PFF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): JPRF No data; PFF 5.73%
Payout (12M): JPRF No data; PFF $1.63
Last payment: JPRF $0.23; PFF $0.16
Ex-dividend: JPRF Oct 1, 2026; PFF Oct 1, 2026
Paid on: JPRF Oct 5, 2026; PFF Oct 6, 2026
Frequency: JPRF Monthly; PFF Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

JPRFMonthly · 3 paymentsAll JPRF payments⁠

PFFMonthly · 45 paymentsAll PFF payments⁠

JPRF vs PFF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: JPRF No dataPFF 8.5%
Return per unit of riskSharpe ratio, 3 years: JPRF No dataPFF 0.22
Worst fallMax drawdown, 5 years: JPRF No dataPFF −21.1%
Market sensitivityBeta, 5 years: JPRF 0.72PFF 0.97; Market = 1

JPRF and PFF in the news

All news⁠

ETF Filings
BondBloxx registers a 0.22% core-plus bond ETF, and two funds still not for sale
Oct 21, 2026JPRFPFF
Deep Dive
Financials drop 2.4% after the Fed's first hike since 2023 and a Bank of America fee warning
Sep 19, 2026PFF

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JPRF vs PFF

In short

Stated mandate

Why people hold it

Worth knowing

How JPRF and PFF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in JPRF

Only in PFF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

BondBloxx registers a 0.22% core-plus bond ETF, and two funds still not for sale

Financials drop 2.4% after the Fed's first hike since 2023 and a Bank of America fee warning

How JPRF and PFF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in JPRF

Only in PFF

Weight gaps