PREFvsVRPETF Comparison
ETF 1
PREF
Principal Spectrum Preferred Securities Active ETF
VS
ETF 2
VRP
Invesco Variable Rate Preferred ETF
Principal Spectrum Preferred Securities Active ETF (PREF) and Invesco Variable Rate Preferred ETF (VRP) belong to the same industry segment: . Both ETFs have the same top 3 sector exposures: Finance, Utilities and Energy. PREF is more expensive with a Total Expense Ratio (TER) of 0.55%, versus 0.5% for VRP. PREF is up 0.42% year-to-date (YTD) with +$613M in YTD flows. VRP performs worse with -1.74% YTD performance, and +$739M in YTD flows. Run a side-by-side ETF comparison of PREF and VRP 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 VRP performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PREF VRP | -0.79%-0.84% | -1.67%-2.15% | +0.42%-1.74% | +1.75%-0.75% | +29.66%+25.28% | +13.73%+15.10% |
| Flows | PREF VRP | +$109M+$43M | +$237M+$75M | +$613M+$739M | +$688M+$839M | +$1.31B+$1.51B | +$1.57B+$1.30B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PREF VRP | +2.29%+2.24% | +2.07%+2.21% | +2.30%+2.34% | +3.91%+3.99% |
| Max drawdown | PREF VRP | -2.29%-2.42% | -2.42%-3.04% | -2.58%-3.04% | -16.09%-13.90% |
| Max drawdown duration | PREF VRP | 50d92d | 102d236d | 37d236d | 973d807d |
Trading data
PREF | VRP | |
Last sale 10/19/2026 at 1:30 PM | $18.31 | $23.52 |
| Previous close 10/16/2026 | $18.34 | $23.66 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 19, 2026
1-year trailing difference
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PREF
is actively managed and doesn’t replicate an indexPREF | VRP | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
PREF | VRP | |
|---|---|---|
| Last price | $18.31 | $23.52 |
| 1D performance | -0.16% | -0.59% |
| AuM | $1.96 B | $3.00 B |
| E/R | 0.55% | 0.5% |
Characteristics
PREF | VRP | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Principal Global Investors | Invesco |
| Benchmark | - | ICE Variable Rate Preferred & Hybrid Securities Index |
| N° of holdings | 158 | 313 |
| Asset class | - | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 10, 2017 | May 1, 2014 |
| ESG | No | No |
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Exposure
Countries
PREF
USA
61.95%
Canada
23.22%
Other
14.83%
VRP
USA
81.02%
Canada
9.66%
Other
9.32%
Sectors
PREF
Finance
63.49%
Utilities
16.88%
Energy
10.68%
Other
8.95%
VRP
Finance
52.42%
Utilities
22.98%
Energy
11%
Other
13.61%
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Diversification
PREF
Total weight of top 15 holdings out of 15
26.89%
VRP
Total weight of top 15 holdings out of 15
13.41%
Top 15 holdings
Data as of August 31, 2026
PREF
Bank of America Corp.
2.77%
Enbridge, 8.5% 15jan2084, USD (2023-B)
2.33%
Metlife, 5.85% 15mar2056, USD
2.22%
Toronto-Dominion Bank, 8.125% 31oct2082, USD (3)
1.97%
PNC Financial Services Group, 6.25% perp., USD (W)
1.87%
JP Morgan, 6.5% perp., USD (OO)
1.83%
US808513CM57
1.76%
Bank of Nova Scotia, 8.625% 27oct2082, USD (4)
1.71%
M&T Bank, 3.5% perp., USD (I)
1.60%
Bank of America Corporation, 6.625% perp., USD (OO)
1.60%
Wells Fargo, 6.85% perp., USD (FF)
1.50%
Huntington Bancshares, 6.25% perp., USD (K)
1.48%
Metlife, 9.25% 8apr2068, USD
1.47%
Truist Financial, 6.25% perp., USD (S)
1.40%
Prudential Financial, 3.7% 1oct2050, USD
1.38%
VRP
Bank of America Corporation, 6.625% perp., USD (OO)
1.07%
JP Morgan, 6.5% perp., USD (OO)
1.07%
US48128BAR24
1.06%
Citigroup, 6.875% perp., USD (GG)
0.95%
JP Morgan, 6.875% perp., USD (NN)
0.92%
Bank of America Corp.
0.89%
Citigroup, 6.625% perp., USD (HH)
0.88%
US38141GF665
0.88%
BP PLC, 4.875% perp., USD
0.86%
CVS Health, 7% 10mar2055, USD (A)
0.84%
Goldman Sachs, 7.5% perp., USD (X)
0.83%
Citigroup, 7.875% 30oct2040, USD
0.82%
Bank of America Corporation, 5.875% perp., USD (FF)
0.82%
Wells Fargo & Co.
0.79%
Vodafone Group, 7% 4apr2079, USD
0.74%
Frequently asked questions about PREF and VRP
How have the PREF and VRP ETFs performed in 2026?
As of October 16, 2026, PREF is up 0.42% year-to-date (YTD), while VRP has lost -1.74%. That puts PREF better performer ahead so far this year.
Which ETF is attracting more investor money: PREF or VRP?
Year-to-date, the PREF ETF saw +$613M in flows, compared to +$739M for VRP.
Which ETF is more volatile: PREF or VRP?
Over the past year, PREF had a volatility of 2.07%, while VRP experienced 2.21%.
Which ETF is bigger: PREF or VRP?
As of October 16, 2026, PREF holds $1.96 B in assets under management (AUM), while VRP manages $3.00 B.
What sectors do the PREF and VRP ETFs invest in?
PREF leans toward sectors like Finance, Utilities and Energy. Meanwhile, VRP focuses on Finance, Utilities and Energy.
What are the top holdings of the PREF ETF and VRP ETF?
PREF top holdings include Bank of America Corp., Enbridge, 8.5% 15jan2084, USD (2023-B) and Metlife, 5.85% 15mar2056, USD. VRP holds in its top three: Bank of America Corporation, 6.625% perp., USD (OO), JP Morgan, 6.5% perp., USD (OO) and US48128BAR24.
Which ETF is more diversified: PREF or VRP?
PREF holds 166 securities with 26.89% of its assets in the top 15. VRP has 360 securities and a top 15 weight of 13.41%.
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