PREFvsHBRDETF Comparison
ETF 1
PREF
Principal Spectrum Preferred Securities Active ETF
VS
Principal Spectrum Preferred Securities Active ETF (PREF) belongs to the segment. Invesco U.S. Hybrid Bond ETF (HBRD) is part of the Intl IG Bonds segment. PREF's top 3 sector exposures are Finance, Utilities and Energy. In contrast, HBRD's top sector exposures are Utilities, Finance and Energy. PREF is more expensive with a Total Expense Ratio (TER) of 0.55%, versus 0.4% for HBRD. Run a side-by-side ETF comparison of PREF and HBRD below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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PREF vs HBRD performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PREF HBRD | +0.19%-0.61% | +0.33%-1.08% | +2.02%n/a | +4.63%n/a | +28.38%n/a | +14.90%n/a |
| Flows | PREF HBRD | +$107M- | +$179M- | +$495M- | +$617M- | +$1.20B- | +$1.48B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PREF HBRD | +1.52%+2.11% | +1.87%n/a | +2.34%n/a | +3.90%n/a |
| Max drawdown | PREF HBRD | -0.73%-1.60% | -2.22%n/a | -3.65%n/a | -16.83%n/a |
| Max drawdown duration | PREF HBRD | 59d60d | 90dn/a | 59dn/a | 1025dn/a |
Trading data
PREF | HBRD | |
Last sale 9/4/2026 at 1:30 PM | $18.78 | |
| Previous close 09/03/2026 | $18.77 | |
| Consolidated volume 09/03/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 5, 2026
1-year trailing difference
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PREF
is actively managed and doesn’t replicate an indexPREF | HBRD | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/4/2026 at 1:30 PM
Live
Closed
PREF | HBRD | |
|---|---|---|
| Last price | $18.78 | – |
| 1D performance | +0.05% | – |
| AuM | $1.88 B | $14.51 M |
| E/R | 0.55% | 0.4% |
Characteristics
PREF | HBRD | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Principal Global Investors | Invesco |
| Benchmark | - | ICE USD Developed Markets Corporate Ex-Banks Hybrid Bond 4.85% Constrained Index |
| N° of holdings | 158 | 181 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 10, 2017 | February 25, 2026 |
| ESG | No | No |
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Exposure
Countries
PREF
USA
62.89%
Canada
23.27%
Other
13.84%
HBRD
USA
66.21%
Canada
15.09%
Japan
10.6%
Other
8.1%
Sectors
PREF
Finance
64.64%
Utilities
16.73%
Energy
11.07%
Other
7.56%
HBRD
Utilities
38.02%
Finance
35.07%
Energy
12.62%
Telecommunication.
11.35%
Other
2.94%
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Diversification
PREF
Total weight of top 15 holdings out of 15
27.41%
HBRD
Total weight of top 15 holdings out of 15
17.45%
Top 15 holdings
Data as of July 31, 2026
PREF
Bank of America Corp.
2.68%
Enbridge, 8.5% 15jan2084, USD (2023-B)
2.40%
Metlife, 5.85% 15mar2056, USD
2.37%
Toronto-Dominion Bank, 8.125% 31oct2082, USD (3)
2.05%
JP Morgan, 6.5% perp., USD (OO)
1.94%
Bank of Nova Scotia, 8.625% 27oct2082, USD (4)
1.82%
PNC Financial Services Group, 6.25% perp., USD (W)
1.81%
M&T Bank, 3.5% perp., USD (I)
1.68%
US808513CM57
1.65%
Wells Fargo, 6.85% perp., USD (FF)
1.59%
Bank of America Corporation, 6.625% perp., USD (OO)
1.56%
Truist Financial, 6.25% perp., USD (S)
1.49%
Prudential Financial, 3.7% 1oct2050, USD
1.47%
Electricite de France (EDF), 9.125% perp., USD
1.46%
Bank of Nova Scotia, 6.875% 27oct2085, USD (7)
1.44%
HBRD
CVS Health, 7% 10mar2055, USD (A)
1.66%
Meiji Yasuda Life Insurance, 6.1% 11jun2055, USD
1.47%
Vodafone Group, 7% 4apr2079, USD
1.46%
Verizon Communications, 6.2% 14may2056, USD
1.39%
Verizon Communications, 6.05% 14may2058, USD
1.37%
Southern Co., 6.375% 15mar2055, USD (2025B)
1.29%
Meiji Yasuda Life Insurance, 5.8% 11sep2054, USD
1.18%
American Electric Power, 6.05% 15mar2056, USD (D)
1.04%
American Electric Power, 5.8% 15mar2056, USD (C)
1.04%
Nippon Life Insurance (Nissay), 6.5% 30apr2055, USD
0.97%
Sumitomo Life Insurance, 4% 14sep2077, USD
0.93%
Dominion Energy, 6% 15feb2056, USD (A)
0.93%
Southern Co., 6% 1apr2058, USD (2026A)
0.92%
Metlife, 6.4% 15dec2066, USD
0.91%
Sempra, 6.4% 1oct2054, USD
0.90%
Frequently asked questions about PREF and HBRD
Which ETF is bigger: PREF or HBRD?
As of September 3, 2026, PREF holds $1.88 B in assets under management (AUM), while HBRD manages $14.51 M.
What sectors do the PREF and HBRD ETFs invest in?
PREF leans toward sectors like Finance, Utilities and Energy. Meanwhile, HBRD focuses on Utilities, Finance and Energy.
What are the top holdings of the PREF ETF and HBRD ETF?
PREF top holdings include Bank of America Corp., Enbridge, 8.5% 15jan2084, USD (2023-B) and Metlife, 5.85% 15mar2056, USD. HBRD holds in its top three: CVS Health, 7% 10mar2055, USD (A), Meiji Yasuda Life Insurance, 6.1% 11jun2055, USD and Vodafone Group, 7% 4apr2079, USD.
Which ETF is more diversified: PREF or HBRD?
PREF holds 160 securities with 27.41% of its assets in the top 15. HBRD has 181 securities and a top 15 weight of 17.45%.
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