PFFV vs QTPI: Grades, Fees and Holdings Compared

Global X Variable Rate Preferred ETF

PFFVBNYSE Arca

North Square RCIM Tax-Advantaged Preferred and Income Securities ETF

QTPICNYSE Arca

Overlap

0.0%by weight

Expense ratio

PFFV −0.35pt a year

PFFV0.25%QTPI0.60%

Avg volume · 30D

PFFV 19.7×the volume

PFFV135KQTPI6.86K

PFFV vs QTPI Performance

Nov 7, 2025 – Nov 9, 2026

0.0%PFFV+1.1%QTPI

Expense ratio: PFFV 0.25%, better; QTPI 0.60%
Fund size: PFFV $338M; QTPI $77M
1Y total return: PFFV 0.0%; QTPI +1.1%, better
Yield (12M): PFFV 8.38%, better; QTPI 4.42%
Holdings: PFFV 58; QTPI 55
Avg volume (30D): PFFV 135K sh, better; QTPI 6.86K sh
NAV per share: PFFV $21.04; QTPI $24.74
52W range

ETF.net Grade

Pillar letters and Scores for PFFV, QTPI, with each pillar’s weight
Pillar	PFFV	QTPI
Cost30% weight	A97Higher	D25
Mission25% weight	B60Higher	C54
Risk15% weight	B55	B68Higher
Tradability15% weight	B68Higher	F24
Holdings10% weight	D34	C45Higher
Durability5% weight	B63Higher	F16

Rank among Preferred Securities funds

How we build Categories ›

Same Category. PFFV and QTPI 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 ›

PFFV ranks 3rd and QTPI 28th of 31 funds in the Preferred Securities Category.

Rank 1APFFDGlobal X U.S. Preferred ETFScore 74
Rank 2APFFiShares Preferred and Income Securities ETFScore 70
Rank 3BPFFVGlobal X Variable Rate Preferred ETFScore 69
Rank 4BEVPFEaton Vance Preferred Securities and Income ETFScore 67
Rank 27CJPRFJPMorgan Preferred and Income Securities ETFScore 42
Rank 28CQTPINorth Square RCIM Tax-Advantaged Preferred and Income Securities ETFScore 40
Rank 29DPFFAVirtus InfraCap U.S. Preferred Stock ETFScore 39

Our read on each fund

ETF.net Research

PFFVBGlobal X Variable Rate Preferred ETF

QTPICNorth Square RCIM Tax-Advantaged Preferred and Income Securities ETF

In short

PFFV Most preferred funds hand you a fixed coupon and a lot of rate sensitivity. PFFV screens for variable-rate preferreds only, so coupons reset off short-term benchmarks instead of standing still, at 0.25% a year with monthly payouts.

QTPI No data

Stated mandate

PFFV The fund seeks to provide investment results generally corresponding to the price and yield performance of the ICE U.S. Variable Rate Preferred Securities Index before fees and expenses.

QTPI No data

Why people hold it

PFFV Costs 0.25% a year, about half the typical preferred ETF fee and a fraction of what an actively run peer like FPE charges (0.83%).
The whole point: an index of variable-rate preferreds, whose coupons reset off short-term benchmarks rather than locking in for the life of the security.
Passive and plain-vanilla. Roughly 60 US preferred issues picked by published index rules, with income paid out monthly.
Stacks up as one of the stronger builds in a crowded preferred-ETF field, mostly on cost and a clean, rules-based mandate.

QTPI No data

Worth knowing

PFFV Preferred issuance skews to banks and insurers, so this is concentrated financials credit in bond clothing, spread across only about 60 positions.
Resets cut both ways. The same floating mechanism that lifts coupons when short-term rates climb also drags them down when rates fall.
Moderately traded and mid-sized rather than a heavyweight, so bid-ask spreads matter more here than in the largest preferred funds.

QTPI No data

Full PFFV profile⁠

Full QTPI profile⁠

PFFV vs QTPI Holdings

How PFFV and QTPI differ

Overlap by weight

0.0%

Level by level

Asset classBonds, Stocks0.0%
Holdings0 in both0.0%
Countryby domicile98.1%

Sector

No Sector split for PFFV and QTPI.

Country, concentration and asset class

Country by domicile

Country weights in PFFV and QTPI, widest gap first
Country	More in PFFVMore in QTPI	Gap	PFFV	QTPI
United States		QTPI +1.9 points	98.1%	100.0%
Canada		PFFV +1.9 points	1.9%	0.0%

Concentration

Weight in the 10 largest Holdings

PFFV31.2%
QTPI29.5%

Securities held

PFFV58
QTPI55

Asset class

PFFV: Bonds
QTPI: Stocks

Holdings

Only in PFFV58
In both0
Only in QTPI55

Only in PFFV

58 securities, 100% of PFFV by weight

Ms 5.0041 Perp (B1802M4)4.36%
Rga 7 1/8 10/15/52 (BMG9SY4)3.79%
Apo 7 5/8 09/15/53 (BQC5ZW1)3.21%
Key 6.2 Perp (BPLPQT9)3.18%
Jxn 8 Perp (BMW6VL7)2.99%
Nly 9.32149 Perp (BD0B1Y4)2.86%
All 7.49349 01/15/53 (B87XV26)2.72%
Usb 4.9041 Perp (B125QN4)2.71%
Syf 8 1/4 Perp (BSNWT01)2.70%
Met 5.15616 Perp (B0B87W3)2.63%
Bny 6.15 Perp (BTJTLY1)2.60%
Gs 4.68873 Perp (B15CKS5)2.56%
Fitb 7.67122 Perp (BH58353)2.35%
Wtfc 7 7/8 Perp (BVK4BN8)2.35%
Bac 6.45 12/15/66 (BF2PL60)2.33%
Rf 6.95 Perp (BNM9HL5)2.32%
Chsinc 6 3/4 Perp (BQS2V39)2.31%
Rf 5.7 Perp (BJMXZX7)2.23%
Fitb 6 7/8 Perp (BW9KZK9)2.16%
Cfg 6 1/2 Perp (BRT81P5)2.07%
Chsinc 7.1 Perp (BKJ9QV0)2.07%
Ath 6.35 Perp (BPSKDY1)1.98%
Fcnca 6 5/8 Perp (BVYDB19)1.97%
Aqncn 8.86372 07/01/2079 (BFYWGC0)1.91%
Pnfp 8.397 Perp (BV6GQY4)1.90%
Hban 6 7/8 Perp (BQMS207)1.73%
Agnc 9.0011 Perp (BK8ZYQ0)1.68%
Ritm 9.29749 Perp (BLCF612)1.66%
Nly 8.50049 Perp (BF4M2M2)1.64%
Usb 5.3241 Perp (B617Z40)1.63%
Asb 6 5/8 03/01/33 (BMX3XP5)1.58%
Wal 8.476 Perp (BNZJSP3)1.57%
Voya 5.35 Perp (BJGS497)1.52%
Gs 4.76873 Perp (B07GC93)1.44%
Cim 10.1272 Perp (BYYPKL9)1.41%
Ath 7 1/4 03/30/64 (BSLKYN5)1.36%
Tva 2.134 06/01/28 (2612674)1.30%
Ritm 9.96849 Perp (BHQZFQ8)1.28%
Wsbc 7 3/8 Perp (BPCR4M3)1.26%
Mfa 9.67349 Perp (BLHGG32)1.25%
Ath 7 3/4 Perp (BPLKV33)1.21%
Agnc 9.32149 Perp (BK71BY6)1.20%
Pnfp 7.68049 Perp (BV6GRK7)1.08%
Ritm 8 3/4 Perp (BSSBSP1)1.03%
Cim 9.07918 Perp (BGHCHV0)1.02%
Adam 11.2827 Perp (BKVHQL2)0.97%
Agnc 9.43949 Perp (BDH3TH2)0.95%
Cim 9.67408 Perp (BHRS1F7)0.86%
Bac 4.50173 Perp (B1VN1F6)0.70%
Agnc 8.6361 Perp (BJBT6K0)0.69%

Only in QTPI

55 securities, 100% of QTPI by weight

JPMorgan Chase & Company 6.875%, Fixed until 6/1/2029 Due 3/1/21743.50%
Citigroup, Inc. 7.625%, Fixed until 11/15/28 Due 2/15/723.24%
Wells Fargo & Company 7.625%, Fixed until 9/15/2028 Due 9/15/21733.18%
Goldman Sachs Group, Inc. (The) 7.5%, Fixed until 8/18/2028 Due 8/18/21702.87%
Bank of America Corporation 6.625%, Fixed until 5/1/2030 Due 8/1/21732.87%
AT&T, Inc. Series A2.85%
Truist Financial Corporation Series O2.79%
PNC Financial Services Group, Inc. (The) 6.25%, Fixed until 3/15/2030 Due 6/15/21732.77%
Toronto-Dominion Bank (The) 8.125%, Fixed until 10/31/2027 Due 10/31/20822.73%
BP Capital Markets plc 6.45%, Fixed until 3/1/2034 Perpetual 03/01/21742.70%
State Street Corporation 6.7%, Fixed until 3/15/2029 Due 03/15/21742.70%
Canadian Imperial Bank of Commerce 7%, Fixed Until 10/28/2030 Due 10/28/20852.67%
Bank of New York Mellon Corporation (The) 7.125%, Fixed until 12/30/2031 Due 03/20/21752.66%
Royal Bank of Canada 7.5%, Fixed until 5/2/2029 Due 5/2/20842.65%
Bank of Montreal 7.7%, Fixed until 5/26/2029 Due 5/26/20842.63%
Vistra Corporation 8.875%, Fixed until 1/15/2029 Due 1/15/21712.59%
General Motors Financial Company, Inc. 6.5%, Fixed until 9/30/2028 Due 3/30/21732.52%
Bank of Nova Scotia (The) 8.625%, Fixed until 10/27/2027 Due 10/27/20822.27%
Capital One Financial Corporation Series I2.20%
UBS Group A.G. 9.25%, Fixed until 11/13/2028 Due 05/13/21722.09%
Charles Schwab Corporation (The) Series J2.07%
M&T Bank Corporation2.02%
Morgan Stanley2.02%
Ally Financial, Inc. 7.1%, Fixed until 8/15/2031 Due 08/15/21741.92%
HSBC Holdings plc 7.05%, Fixed Until 12/05/2030 Due 12/05/21731.83%
US Bancorp Series M1.82%
Banco Bilbao Vizcaya Argentaria S.A. 9.375%, Fixed until 09/19/2029 Due 09/19/21731.80%
Fifth Third Bancorp1.76%
KeyCorporation Series F1.75%
Lloyds Banking Group plc 8%, Fixed until 09/27/2029 Due 3/27/21701.69%
Banco Santander S.A. 9.625% Fixed until 5/21/29 Due 2/21/21731.66%
Standard Chartered plc 7.75%, Fixed until 2/15/2028 Due 2/15/21731.66%
Air Lease Corporation 6%,Fixed Until 12/15/2029 Due 09/15/21731.58%
Citizens Financial Group, Inc. Series E1.56%
Morgan Stanley1.51%
NatWest Group plc 8.125%, Fixed until 5/10/2034 Due 06/30/21721.43%
Citizens Financial Group, Inc. Series I1.42%
Huntington Bancshares Inc1.36%
BNP Paribas S.A. 8%, Fixed until 08/22/2031 Due 02/22/21741.33%
ING Groep N.V. 7%, Fixed until 11/16/2023 Due 11/16/21751.28%
Nordea Bank Abp 6.75%, Fixed until 11/10/2033 Due 11/10/21751.27%
KeyCorporation1.27%
Credit Agricole S.A. 7.125%, Fixed until 09/23/2035 Due 09/23/21751.23%
Charles Schwab Corporation (The)1.03%
First Citizens BancShares, Inc. 7.5%, Fixed until 09/15/2031 Due 12/15/21741.03%
Bank of America Corporation Series NN1.02%
Receivables/Payables0.89%
Allstate Corporation (The)0.86%
Synchrony Financial0.81%
UMB Financial Corporation0.61%

Weight gaps

PFFV and QTPI share no securities.

All 57 PFFV holdings⁠All QTPI 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.

PFFV vs QTPI Cost

Overpaying QTPI vs PFFV

$6,658

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

PFFV 0.25%
$5,159
QTPI 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

PFFV 0.25%
QTPI 0.60%
Overpaying

Year by year

Year	PFFV	QTPI	Overpaying
10	$455	$1,076	$621
20	$1,769	$4,116	$2,347
30	$5,159	$11,817	$6,658

Expense ratio

0.25%PFFV, cheaper
0.60%QTPI

PFFV0.25%QTPI0.60%

0.23%2.11%

Middle half of Preferred Securities funds
Median 0.50%

PFFV 2nd cheapest of 31 funds

QTPI 23rd cheapest of 31 funds

PFFV vs QTPI Dividends

Last 12 months to Nov 9, 2026

Yield (12M): PFFV 8.38%, better; QTPI 4.42%
Payout (12M): PFFV $1.77; QTPI $1.10
Last payment: PFFV $0.13; QTPI $0.13
Ex-dividend: PFFV Nov 2, 2026; QTPI Oct 29, 2026
Paid on: PFFV Nov 5, 2026; QTPI Nov 3, 2026
Frequency: PFFV Monthly; QTPI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

PFFVMonthly · 46 paymentsAll PFFV payments⁠

QTPIMonthly · 23 paymentsAll QTPI payments⁠

PFFV vs QTPI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: PFFV 5.5%QTPI 3.0%since Jan 2025
Return per unit of riskSharpe ratio, 3 years: PFFV 0.35QTPI −0.17since Jan 2025
Worst fallMax drawdown, 5 years: PFFV −18.8%QTPI −4.1%since Dec 2024
Market sensitivityBeta, 5 years: PFFV 0.42QTPI 0.16; Market = 1

Popular comparisons

PFFVBvsPFFDA
Global X Variable Rate Preferred ETF · Global X U.S. Preferred ETF
Expense ratio
0.25% · 0.23%
Category
QTPICvsPFFDA
North Square RCIM Tax-Advantaged Preferred and Income Securities ETF · Global X U.S. Preferred ETF
Expense ratio
0.60% · 0.23%
Category
PFFVBvsPFFA
Global X Variable Rate Preferred ETF · iShares Preferred and Income Securities ETF
Expense ratio
0.25% · 0.45%
Category
QTPICvsPFFA
North Square RCIM Tax-Advantaged Preferred and Income Securities ETF · iShares Preferred and Income Securities ETF
Expense ratio
0.60% · 0.45%
Category
PFFVBvsEVPFB
Global X Variable Rate Preferred ETF · Eaton Vance Preferred Securities and Income ETF
Expense ratio
0.25% · 0.39%
Category
QTPICvsEVPFB
North Square RCIM Tax-Advantaged Preferred and Income Securities ETF · Eaton Vance Preferred Securities and Income ETF
Expense ratio
0.60% · 0.39%
Category