PFF vs PFFA vs PGX: Which Is the Better Pick in 2026?
A side-by-side comparison of iShares Preferred and Income Securities ETF, Virtus InfraCap U.S. Preferred Stock ETF and Invesco Preferred ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares is one of the largest ETF providers globally, known for offering a broad, diversified lineup of exchange-traded funds across multiple asset classes and investment strategies. The company operates 215 funds spanning 15 distinct families, including popular offerings in dividend income, covered call strategies, bonds, equities, ESG-focused investments, and factor-based approaches, with widely-held tickers like AGG (bond), ACWI (global equity), and AOA (allocation). iShares is characterized by its comprehensive fund ecosystem that serves both core portfolio holdings and specialized investment strategies, making it a prominent player for investors seeking both traditional and alternative income-generating ETF solutions.
See our curated list of related YouTube videos on PFF.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Virtus Investment Partners operates a focused lineup of 5 ETFs primarily concentrated in income-generating and specialized strategies. Their fund families span bonds, closed-end funds, and income-focused products, with notable tickers including AIO, DNP, PFFA, UTES, and VEMY that cater to investors seeking dividend and yield exposure. The firm positions itself as a niche player in the ETF space with an emphasis on income strategies rather than broad market exposure.
See our curated list of related YouTube videos on PFFA.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Invesco is a major player in the ETF space known for offering a broad, diversified lineup of 71 funds spanning multiple investment themes and strategies. Their portfolio spans income-focused funds, factor-based equity strategies, commodity exposure, digital assets, ESG investing, and the popular Invesco QQQ family tracking the Nasdaq-100, serving both income-seeking and growth-oriented investors. The issuer is particularly recognized for specialized offerings like BulletShares (laddered bond funds), sector rotation strategies, and thematic investing options, making it a comprehensive choice for investors seeking varied exposures beyond traditional index funds.
See our curated list of related YouTube videos on PGX.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
PFFA tops the group on trailing twelve-month total return at 8.25%, with PFF at 2.40% and PGX at 1.89%. Across the 5-year window, PFFA has the strongest compounding at 5.69% a year. Figures are total returns: price change plus every distribution reinvested.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of July 10, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since May 2018” measures every fund from May 16, 2018 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Quick verdict
PFF (iShares Preferred and Income Securities ETF), PFFA (Virtus InfraCap U.S. Preferred Stock ETF), PGX (Invesco Preferred ETF) are dividend ETFs that take different approaches.
PFFA offers the highest reported yield at 9.88%, followed by PFF at 5.57%, PGX at 5.45%.
PFF is the cheapest with an expense ratio of 0.46%, compared to 0.50% for PGX and 2.52% for PFFA.
PFF is the largest fund by assets ($13.5B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment: PFF generates ~$46.42/month, PFFA generates ~$82.33/month, PGX generates ~$45.42/month at current distribution rates.
PFF yield5.57%
PFFA yield9.88%
PGX yield5.45%
Cost & efficiency
Over 10 years on $10,000: PFF costs ~$460, PFFA costs ~$2,520, PGX costs ~$500 in fees (simplified, not compounded).
PFF ER0.46%
PFFA ER2.52%
PGX ER0.50%
Strategy & risk
PFF is an ETF; PFFA tracks Actively managed U.S. preferred stock portfolio with a preferred stock approach; PGX is an ETF.
PFF beta0.97
PFFA beta1.07
PGX beta1.21
Fund details
PFF is managed by iShares (launched 03/26/2007) with $13.5B in assets. PFFA is managed by Virtus Investment Partners (launched 05/15/2018) with $2.41B in assets. PGX is managed by Invesco (launched 01/31/2008) with $3.81B in assets.
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Frequently asked questions
Which of PFF, PFFA, PGX is best for dividend income?
It depends on your goals. PFFA currently offers the highest reported distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility, and funds without an established distribution history have no comparable yield to evaluate. Consider your time horizon and risk tolerance.
What is the difference between PFF, PFFA, PGX?
PFF (iShares Preferred and Income Securities ETF) is an ETF, issued by iShares. PFFA (Virtus InfraCap U.S. Preferred Stock ETF) tracks Actively managed U.S. preferred stock portfolio with a preferred stock approach, issued by Virtus Investment Partners. PGX (Invesco Preferred ETF) is an ETF, issued by Invesco.
Can I hold PFF, PFFA, PGX together?
Yes — nothing prevents holding them together. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Which has the lowest fees among PFF, PFFA, PGX?
PFF has an expense ratio of 0.46%, PFFA has an expense ratio of 2.52%, PGX has an expense ratio of 0.50%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 generate in each?
$10,000 in PFF yields ~$46.42/month ($557.00/year). $10,000 in PFFA yields ~$82.33/month ($988.00/year). $10,000 in PGX yields ~$45.42/month ($545.00/year).
Explore related screeners
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