PFFD vs PFLD: Grades, Fees and Holdings Compared

Global X U.S. Preferred ETF

PFFDANYSE Arca

AAM Low Duration Preferred and Income Securities ETF

PFLDBNYSE Arca

Overlap

No data

Expense ratio

PFFD −0.22pt a year

PFFD0.23%PFLD0.45%

Avg volume · 30D

PFFD 16.2×the volume

PFFD1.06MPFLD65.6K

5Y return · a year

PFLD +2.9pt

PFFD−2.3%PFLD+0.6%

PFFD vs PFLD Performance

Oct 29, 2021 – Oct 30, 2026

−10.8%PFFD+3.0%PFLD

Expense ratio: PFFD 0.23%, better; PFLD 0.45%
Fund size: PFFD $1.83B; PFLD $368M
1Y total return: PFFD −5.7%; PFLD +2.1%, better
Yield (12M): PFFD 7.07%, better; PFLD 5.60%
Holdings: PFFD 238; PFLD 119
Avg volume (30D): PFFD 1.06M sh, better; PFLD 65.6K sh
NAV per share: PFFD $17.00; PFLD $19.06
52W range

ETF.net Grade

Pillar letters and Scores for PFFD, PFLD, with each pillar’s weight
Pillar	PFFD	PFLD
Cost30% weight	A100Higher	A73
Mission25% weight	A75Higher	C43
Risk15% weight	D25	B66Higher
Tradability15% weight	A83Higher	C47
Holdings10% weight	C48Higher	C42
Durability5% weight	A72Higher	B57

Rank among Preferred Securities funds

How we build Categories ›

Same Category. PFFD and PFLD 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 ›

PFFD ranks 1st and PFLD 13th 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 13BHBRDInvesco U.S. Hybrid Bond ETFScore 56
Rank 13BPFLDAAM Low Duration Preferred and Income Securities ETFScore 56
Rank 15CCSSDCohen & Steers Short Duration Preferred and Income Active ETFScore 54

Our read on each fund

ETF.net Research

PFFDAGlobal X U.S. Preferred ETF

PFLDBAAM Low Duration Preferred and Income Securities ETF

In short

PFFD Preferred stock is a corner where fund fees usually run rich. PFFD turned up in 2017 charging 0.23% for a broad basket of U.S. preferreds, and it has paid monthly ever since. Cheap, plain-vanilla exposure to an income niche.

PFLD Preferred income on a shorter leash. PFLD tracks an ICE index built only from exchange-listed preferred and hybrid securities with five years of duration or less, and it pays monthly.

Stated mandate

PFFD PFFD seeks to track the performance of the ICE BofA Diversified Core U.S. Preferred Securities Index before fees and expenses. It provides broad exposure to U.S. preferred stocks.

PFLD The Fund seeks to track, before fees and expenses, the total return of the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index.

Why people hold it

PFFD Charges 0.23% a year, which Global X notes is less than half the average fee among competing preferred funds.globalxetfs.com
Holds roughly 220 U.S. preferreds tracking the ICE BofA Diversified Core index. Benchmark-like exposure, not a manager's shortlist.globalxetfs.com
Pays distributions monthly, and has done so every year since its 2017 launch.globalxetfs.com
A multi-billion-dollar fund that trades actively, so entering and exiting is rarely the hard part.

PFLD The whole point is the duration screen: the ICE 0-5 Year Duration Exchange-Listed Preferred & Hybrid Securities Index keeps the portfolio at the short end of a market known for long, rate-sensitive paper.
Income arrives monthly rather than quarterly, from a basket of roughly 160 preferreds and hybrids, so no single issuer's payout dominates the check.
Rules, not hunches. It is passively managed against one published index, so the holdings follow a disclosed rulebook instead of a manager's mood, and it has run that way since launching in 2019.

Worth knowing

PFFD Preferreds come mostly from banks and insurers, and the index has been concentrated in banking, so the ride tracks financial-sector health.globalxetfs.com
These securities behave more like long bonds than stocks: interest rate moves push prices around, as the fund's risk disclosures describe.globalxetfs.com
Monthly does not mean fixed. The payout size floats with what the portfolio collects.globalxetfs.com

PFLD At 0.45% it sits right at the median for index-tracking ETFs, but that cohort includes plain stock trackers like VT and SCHK charging under a tenth as much. Niche plumbing costs more.
Short duration turns down interest-rate sensitivity, not credit risk. These are hybrid preferred securities, and they behave like hybrids when markets get jumpy.
A mid-sized, moderately traded fund rather than a category heavyweight, so limit orders and a glance at the spread do more work here than in the giants.

Full PFFD profile⁠

Full PFLD profile⁠

PFFD vs PFLD Holdings

As of Oct 13, 2026

How PFFD and PFLD differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile89.2%
Asset classFixed Income100%

Sector

No Sector split for PFLD.

Country, concentration and asset class

Country by domicile

Country weights in PFFD and PFLD, widest gap first
Country	More in PFFDMore in PFLD	PFFD	PFLD
United States	PFFD +8.8 points	96.9%	88.1%
Canada	PFLD +7.0 points	1.0%	8.0%
United Kingdom	PFLD +2.5 points	0.0%	2.5%
Bermuda	PFFD +2.0 points	2.1%	0.1%
Ireland	PFLD +0.6 points	0.0%	0.6%
Other countries (3)	PFLD +0.7 points	0.0%	0.7%

Concentration

Weight in the 10 largest Holdings

PFFD25.1%
PFLD21.7%

Securities held

PFFD238
PFLD119

Asset class

PFFD: Fixed Income
PFLD: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. PFFD holds 238 securities, PFLD 119.

All 237 PFFD holdings⁠All 342 PFLD 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.

PFFD vs PFLD Cost

Overpaying PFLD vs PFFD

$4,282

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

PFFD 0.23%
$4,759
PFLD 0.45%
$9,041

Amount$10,000

Years30 years

Cost over time

PFFD 0.23%
PFLD 0.45%
Overpaying

Year by year

Year	PFFD	PFLD	Overpaying
10	$419	$812	$393
20	$1,630	$3,128	$1,498
30	$4,759	$9,041	$4,282

Expense ratio

0.23%PFFD, cheaper
0.45%PFLD

PFFD0.23%PFLD0.45%

0.23%2.11%

Middle half of Preferred Securities funds
Median 0.50%

PFFD cheapest of 31 funds

PFLD 6th cheapest of 31 funds

PFFD vs PFLD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): PFFD 7.07%, better; PFLD 5.60%
Payout (12M): PFFD $1.20; PFLD $1.07
Last payment: PFFD $0.10; PFLD $0.09
Ex-dividend: PFFD Oct 1, 2026; PFLD Oct 30, 2026
Paid on: PFFD Oct 6, 2026; PFLD Pays Nov 3, 2026
Frequency: PFFD Monthly; PFLD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

PFFDMonthly · 45 paymentsAll PFFD payments⁠

PFLDMonthly · 46 paymentsAll PFLD payments⁠

PFFD vs PFLD Risk

Fall from peak · 5 years

PFFD
PFLD

Risk facts

VolatilityStd dev, 3 years: PFFD 9.1%PFLD 4.5%, better
Return per unit of riskSharpe ratio, 3 years: PFFD 0.10PFLD 0.13, better
Worst fallMax drawdown, 5 years: PFFD −24.4%PFLD −15.5%, better
Market sensitivityBeta, 5 years: PFFD 1.07PFLD 0.48; Market = 1

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