PFF

iShares Preferred & Income Securities ETF

US preferred stock and hybrid securities ETF. Higher yields than most bond funds (~5-6%) but with equity-like downside risk. Concentrated in financials.

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Fixed IncomeTER 0.46%Dist.

TER

0.46%

AUM

$14B

CAGR

3.8%

Volatility

16.1%

Sharpe

0.05

Max Drawdown

-56.7%

Data Range

2007-03 → 2026-04

Performance Analysis

Maximum Drawdown History

How far the ETF has fallen from its all-time high at each point. Deeper = more painful.

Current DD0.0%

Worst DD-56.7%

Worst date2009-02

Rolling Returns

Annualized returns over rolling windows. Shows the range of outcomes depending on when you invested.

Avg return5.3%

Best37.4%

Worst-2.6%

% positive89%

194 periods

Key Facts

ISIN

US4642884559

Issuer

BlackRock

Benchmark

ICE Exchange-Listed Preferred & Hybrid Securities Index

Total Expense Ratio (TER)

0.46%

Assets Under Management

$14B approx.

Inception Date

2007-03-26

Domicile

United States

Legal Structure

Open-Ended Fund

Dividend Policy

Distributing (pays dividends)

Replication Method

Physical (Optimized Sampling)

UCITS Status

✗ Not UCITS

Fund Currency

USD

Primary Exchange

NASDAQ

Number of Holdings

~500

Top 10 Holdings

Top 10 represent 16.6% of the fund.

JPM-PJPMorgan Chase Pfd

2.50%

Financials

BAC-PBank of America Pfd

2.20%

Financials

WFC-PWells Fargo Pfd

2.00%

Financials

C-PCitigroup Pfd

1.80%

Financials

GS-PGoldman Sachs Pfd

1.60%

Financials

MS-PMorgan Stanley Pfd

1.50%

Financials

USB-PUS Bancorp Pfd

1.40%

Financials

PNC-PPNC Financial Pfd

1.30%

Financials

MET-PMetLife Pfd

1.20%

Financials

ALL-PAllstate Pfd

1.10%

Financials

Sector Breakdown

Financials

65%

Utilities

12%

Real Estate

Energy

Communication Services

Industrials

Healthcare

Source: Official issuer data · Last updated: 2026-05-12

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Who Is This ETF For?

✓Portfolio stabilizer and income generator. Reduces overall portfolio volatility when paired with equities.

Key Risks to Consider

• Interest rate risk: bond prices fall when rates rise.

• Non-UCITS: may have unfavorable tax treatment for non-US investors (US estate tax, withholding tax).

Similar ETFs

BND0.03% TER

Vanguard Total Bond Market ETF

Total US Bond Market · Vanguard

AGG0.03% TER

iShares Core US Aggregate Bond ETF

Total US Bond Market · BlackRock

TIP0.19% TER

iShares TIPS Bond ETF

Inflation-Protected Bonds · BlackRock

SHV0.15% TER

iShares Short Treasury Bond ETF

Ultra Short-Term Treasury · BlackRock

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Data & Methodology

Metadata sourced from official issuer documentation. Price data from Yahoo Finance (monthly adjusted close, includes reinvested dividends and splits). AUM figures are approximate and updated quarterly.

Data source: Yahoo Finance (adjusted close), BlackRock (metadata)Last verified: 2026-04-17

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💬 Frequently Asked Questions

US preferred stock and hybrid securities ETF. Higher yields than most bond funds (~5-6%) but with equity-like downside risk. Concentrated in financials.

PFF has a total expense ratio (TER) of 0.46%, which means you pay $46 per year for every $10,000 invested.

Yes, PFF is a distributing ETF that pays dividends to shareholders. The frequency depends on the fund's schedule.

PFF is a US-domiciled ETF (not UCITS). Non-US investors should consider the US estate tax implications (40% on US assets above $60,000) and the 30% dividend withholding tax (reduced by treaty in some countries).

PFF uses optimized sampling, holding a representative subset of the ICE Exchange-Listed Preferred & Hybrid Securities Index index to minimize costs while closely tracking performance.