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 2.02% year-to-date (YTD) with +$495M in YTD flows. VRP performs worse with -0.3% YTD performance, and +$696M 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 09/03/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PREF VRP | +0.19%-0.12% | +0.33%-0.23% | +2.02%-0.30% | +4.63%+1.82% | +28.38%+24.81% | +14.90%+16.40% |
| Flows | PREF VRP | +$107M+$12M | +$179M+$104M | +$495M+$696M | +$617M+$878M | +$1.20B+$1.43B | +$1.48B+$1.30B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PREF VRP | +1.52%+1.78% | +1.87%+2.12% | +2.34%+2.37% | +3.90%+3.98% |
| Max drawdown | PREF VRP | -0.73%-0.97% | -2.22%-2.97% | -3.65%-2.97% | -16.83%-14.25% |
| Max drawdown duration | PREF VRP | 59d59d | 90d193d | 59d193d | 1025d882d |
Trading data
PREF | VRP | |
Last sale 9/4/2026 at 4:59 PM | $18.77 | $24.15 |
| Previous close 09/03/2026 | $18.77 | $24.13 |
| 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 4, 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 9/4/2026 at 4:59 PM
Live
Closed
PREF | VRP | |
|---|---|---|
| Last price | $18.77 | $24.15 |
| 1D performance | -0.03% | +0.08% |
| AuM | $1.88 B | $3.02 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
62.89%
Canada
23.27%
Other
13.84%
VRP
USA
82.9%
Canada
10.31%
Other
6.78%
Sectors
PREF
Finance
64.64%
Utilities
16.73%
Energy
11.07%
Other
7.56%
VRP
Finance
53.9%
Utilities
23.26%
Energy
11.61%
Other
11.23%
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Diversification
PREF
Total weight of top 15 holdings out of 15
27.41%
VRP
Total weight of top 15 holdings out of 15
13.48%
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%
VRP
Bank of America Corporation, 6.625% perp., USD (OO)
1.11%
US48128BAR24
1.08%
JP Morgan, 6.5% perp., USD (OO)
1.07%
Citigroup, 6.875% perp., USD (GG)
0.99%
JP Morgan, 6.875% perp., USD (NN)
0.91%
Citigroup, 6.625% perp., USD (HH)
0.91%
Bank of America Corp.
0.89%
BP PLC, 4.875% perp., USD
0.88%
Citigroup, 7.875% 30oct2040, USD
0.87%
CVS Health, 7% 10mar2055, USD (A)
0.85%
Bank of America Corporation, 5.875% perp., USD (FF)
0.81%
Wells Fargo & Co.
0.81%
Goldman Sachs, 7.5% perp., USD (X)
0.80%
Vodafone Group, 7% 4apr2079, USD
0.75%
Wells Fargo, 6.85% perp., USD (FF)
0.74%
Frequently asked questions about PREF and VRP
How have the PREF and VRP ETFs performed in 2026?
As of September 3, 2026, PREF is up 2.02% year-to-date (YTD), while VRP has lost -0.3%. 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 +$495M in flows, compared to +$696M for VRP.
Which ETF is more volatile: PREF or VRP?
Over the past year, PREF had a volatility of 1.87%, while VRP experienced 2.12%.
Which ETF is bigger: PREF or VRP?
As of September 3, 2026, PREF holds $1.88 B in assets under management (AUM), while VRP manages $3.02 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), US48128BAR24 and JP Morgan, 6.5% perp., USD (OO).
Which ETF is more diversified: PREF or VRP?
PREF holds 160 securities with 27.41% of its assets in the top 15. VRP has 351 securities and a top 15 weight of 13.48%.
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