PFF vs PFFD
Two large preferred-stock ETFs — bond-like high income, compared on index and cost. Here’s how PFF and PFFD compare for dividend investors — with a calculator for each so you can model the income yourself.
PFF
iShares Preferred and Income Securities ETF
- Type
- High-dividend ETF
- Issuer
- iShares
- Pays
- monthly
PFF is a preferred-stock ETF that tracks an index of US preferred and hybrid securities, and pays monthly. Preferred shares behave more like bonds than common stock, so the fund offers a high, relatively steady income stream with limited price appreciation and sensitivity to interest rates.
PFF dividend calculatorPFFD
Global X U.S. Preferred ETF
- Type
- High-dividend ETF
- Issuer
- Global X
- Pays
- monthly
PFFD is a preferred-stock ETF that tracks the ICE BofA Diversified Core US Preferred Securities Index, holding a broad basket of US preferred shares, and pays monthly. Like other preferred funds it targets high, bond-like income with little price growth and notable interest-rate sensitivity.
PFFD dividend calculatorPFF vs PFFD dividend, side by side
Current dividend figures for PFF and PFFD as of Oct 13, 2026. Yields and payouts change — verify the latest numbers with your broker before investing.
PFF vs PFFD at a glance
| PFF | PFFD | |
|---|---|---|
| Index it tracks | ICE Exchange-Listed Preferred & Hybrid Securities | ICE BofA Diversified Core U.S. Preferred Securities |
| Holdings | 453 | 237 |
| Assets | $12.08 billion | $1.99 billion |
| Expense ratio | 0.45% | 0.23% |
| Launched | Mar 26, 2007 | Sep 11, 2017 |
| Pays | Monthly | Monthly |
| Trailing dividend yield | 5.59% (Oct 13, 2026) | 6.91% (Oct 13, 2026) |
| Dividend change, 2021 to 2025 | +2.7% a year | -2.1% a year |
| Total return, 1 year | -1.35% | -3.44% |
| Total return, 5 years | 0.40% a year | -1.40% a year |
From the iShares and Global X fund pages, read on October 16, 2026. Returns count reinvested payouts at net asset value, through September 30, 2026.
PFF vs PFFD dividend change by year
| Year | PFF | PFFD |
|---|---|---|
| 2025 | -1.86% | -3.87% |
| 2024 | -3.97% | -0.60% |
| 2023 | +12.71% | -1.87% |
| 2022 | +4.53% | -2.13% |
Change in total dividends paid per share from the year before, from each fund’s verified payment history. The better result each year is marked.
Two ways to own U.S. preferred stock
Both funds hold preferred stock, a cross between a share and a bond that pays a set income, and both pay every month. They follow different ICE indexes. iShares’ PFF tracks one that also takes in some hybrid securities, and it is much bigger: 453 positions and $12.08 billion, against 237 holdings and $1.99 billion for Global X’s PFFD.
By iShares’ own labels, 55.7% of PFF was in finance companies. PFFD’s largest positions in October 2026 were preferreds from Boeing, Super Micro Computer, Oracle and Wells Fargo.
Cost: PFFD is half the price
PFFD charges 0.23% a year and PFF 0.45%. On $10,000 that is $23 against $45. For an income fund paying around 6% a year, that difference eats into the yield every year.
Monthly dividends by year
The payout records go in different directions. From 2021 to 2025, PFF’s yearly dividend per share rose about 2.7% a year, while PFFD’s fell about 2.1% a year. PFFD’s monthly check stepped down from $0.109 to $0.10, where it has stayed since April 2025.
PFFD held up better in 2024, and PFF did better in the other 3. Between 2023 and 2024 the pattern flipped: PFF’s best year was 2023 (12.71% against -1.87%), a gap of 14.58 percentage points, while PFFD’s was 2024 (-0.60% against -3.97%).
2026 has gone the other way. PFF’s first nine payments were 20.6% below the same months of 2025, while PFFD has paid a flat $0.10 a month.
Yield and returns
Over the year to Oct 13, 2026, PFF yielded about 5.59% and PFFD about 6.91%. On $10,000 that is roughly $559 a year from PFF against $691 from PFFD.
With payouts counted, PFF lost 1.35% over the year to September 30, 2026 and PFFD lost 3.44%. Over five years PFF made 0.40% a year and PFFD lost 1.40% a year. Both have struggled, as preferred prices tend to fall when interest rates rise.
Fund facts and returns come from iShares’ and Global X’s own pages. Dividend histories come from the researched PFF and PFFD guides, each checked against three public payment records. Last checked Oct 16, 2026. Sources: iShares — PFF fund page; Global X — PFFD fund page; stockanalysis.com — PFF dividend history; stockanalysis.com — PFFD dividend history. Past returns do not predict future ones. Not financial advice.
Related dividend guides
How PFF and PFFD differ
PFF — PFF is a preferred-stock ETF that tracks an index of US preferred and hybrid securities, and pays monthly. Preferred shares behave more like bonds than common stock, so the fund offers a high, relatively steady income stream with limited price appreciation and sensitivity to interest rates.
PFFD — PFFD is a preferred-stock ETF that tracks the ICE BofA Diversified Core US Preferred Securities Index, holding a broad basket of US preferred shares, and pays monthly. Like other preferred funds it targets high, bond-like income with little price growth and notable interest-rate sensitivity.
In practice the choice comes down to your goal. PFF suits an investor who wants a higher current yield from a diversified large-cap base, while PFFD suits one who wants a higher current yield from a diversified large-cap base. The two are not mutually exclusive — plenty of portfolios hold a growth-oriented fund and an income-oriented one together. What matters is matching each to its job and not judging a fund on its headline yield alone.
Rather than compare a single snapshot yield (which moves daily), open each calculator and enter current figures: the PFF calculator and the PFFD calculator. To compare long-term compounding head to head, run the same contributions through the dividend reinvestment calculator with each fund’s assumptions.
PFF vs PFFD FAQ
- Does PFFD pay monthly dividends?
- Yes. PFFD has paid $0.10 a share every month since April 2025. PFF also pays monthly, but its amounts change more.
- Is PFF or PFFD cheaper?
- PFFD: 0.23% a year against 0.45% for PFF.
- What are the risks of preferred stock ETFs?
- Preferreds behave a lot like long-term bonds, so higher interest rates can push their prices down. Many are issued by banks and insurers, so trouble in finance can hit them too. Neither fund’s monthly payout is guaranteed.
- What's the main difference between PFF and PFFD?
- PFF is a high-dividend etf from iShares; PFFD is a high-dividend etf from Global X. Two large preferred-stock ETFs — bond-like high income, compared on index and cost.
- Does PFF or PFFD pay more dividends?
- As of Oct 13, 2026, PFF yields about 5.59% and PFFD about 6.91%, so PFFD currently pays the higher yield. PFF pays monthly (varies); PFFD pays monthly. Yields move daily, so verify current figures and use the calculators below to model the income yourself. Higher-yield funds pay more today, while dividend-growth funds start lower and raise the payout over time.
- Which is better, PFF or PFFD?
- Neither is universally better — they suit different goals. PFF fits an investor who wants a higher current yield from a diversified large-cap base; PFFD fits one who wants a higher current yield from a diversified large-cap base. Match the fund to your objective, time horizon, and tax situation, and consider a licensed advisor.
- Can I hold both PFF and PFFD?
- Many investors do, to blend current income with growth. Just be aware of overlap — if both hold similar large-cap US stocks, you may be less diversified than the two tickers suggest.