Dividend comparison
PFFA vs PGX: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Virtus InfraCap U.S. Preferred Stock ETF and Invesco Preferred ETF, side by side. Updated October 21, 2026.
PFFA vs PGX: key differences
The short answer, from the latest data on this page.
- Fees. PGX is cheaper at 0.50% a year versus 2.11% for PFFA. On $10,000 that is $161 a year less in fees.
- Income. PFFA pays more income, yielding 10.80% over the last twelve months versus 6.95% for PGX. That is about $385 more a year on $10,000. Both pay monthly.
- Performance. Over the last 5 years, PFFA returned 11.8% versus -15.7% for PGX, with dividends reinvested. $10,000 would have grown to $11,183 in PFFA and $8,430 in PGX.
- Risk. Their worst declines over the last 5 years were similar: -22.7% for PFFA and -24.6% for PGX from peak to trough.
- Diversification. PGX holds 270 positions and PFFA holds 198. The ten largest positions make up 23.8% of PFFA and 13.0% of PGX.
- Overlap. At least 4% of the two portfolios overlap by weight, across 9 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. PFFA grew its yearly payout 1.5% a year over the last 4 years, versus -1.6% for PGX.
Bottom line: PFFA fits better if you care most about more income today, stronger 5-year returns and faster dividend growth. PGX fits better if you care most about lower fees.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | PFFA Virtus InfraCap U.S. Preferred Stock ETF | PGX Invesco Preferred ETF |
|---|---|---|
| Dividend yield (TTM) | 10.80% | 6.95% |
| Dividend / share (TTM) | $2.06 | $0.69 |
| Payout frequency | Monthly | Monthly |
| Last dividend | $0.1725 on Sep 28, 2026 | $0.0573 on Sep 25, 2026 |
| Ex-dividend date | Sep 21, 2026 | Oct 19, 2026 |
| Next payment | $0.1730 on Oct 27, 2026 | $0.0610 on Oct 23, 2026 |
| Dividend growth (CAGR) | 1.5% over 4 yrs | -1.6% over 4 yrs |
| Price | $19.10 | $9.93 |
| Dividend growth streak | 5 years | — |
| Beta | 1.07 | 1.21 |
| Max drawdown (5Y) | -22.7% | -24.6% |
| Market cap | $2.31B | $3.61B |
| Exchange | AMEX | AMEX |
| Expense ratio | 2.11% | 0.50% |
| Assets under management | $2.31B | $3.57B |
| Number of holdings | 198 | 270 |
| Top 10 concentration | 23.8% | 13.0% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
PFFA
$89.99/mo
$1080 /yr at 10.80% yield
PGX
$57.93/mo
$695 /yr at 6.95% yield
Dividend history
Total dividends paid per share in each calendar year. PFFA pays monthly; PGX pays monthly.
| Year | PFFA | PGX |
|---|---|---|
| 2025 | $2.0400 | $0.6771 |
| 2024 | $2.0100 | $0.6860 |
| 2023 | $1.9800 | $0.7365 |
| 2022 | $1.9500 | $0.7030 |
| 2021 | $1.9200 | $0.7232 |
Strategy: Alternative income
Income vehicles outside ordinary stocks and bonds: real estate investment trusts, preferred shares, business development companies that lend to private firms, and energy pipeline partnerships. Each is structured to pass most of its earnings through to shareholders, which is why yields are high. Their payouts depend on rents, loan books or pipeline volumes rather than on corporate dividend policy.
These income streams are sensitive to interest rates and credit conditions, and much of the income is taxed as ordinary income rather than qualified dividends.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $11,183 in PFFA and $8,430 in PGX.
| Period | PFFA | PGX |
|---|---|---|
| 1 month | -6.92% | -4.43% |
| 3 months | -8.52% | -8.56% |
| Year to date | -11.37% | -11.65% |
| 1 year | -10.79% | -13.80% |
| 3 years | 27.42% | 9.85% |
| 5 years | 11.83% | -15.70% |
- PFFA
- PGX
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- PFFA
- PGX
PFFA vs PGX holdings overlap
At least 4% overlap by weight, with 9 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | PFFA weight | PGX weight |
|---|---|---|
| XELLLXcel Energy Inc 6.250% | 1.78% | 0.79% |
| DTKDTE Energy Co 6.250% | 1.37% | 0.54% |
| CRBDCorebridge Financial Inc 6.375% | 1.17% | 0.52% |
| BANC-PFBanc of California Inc 7.750% | 2.13% | 0.51% |
| TDS-PVTelephone and Data Systems Inc 6.000% | 2.32% | 0.49% |
| FCNCNFirst Citizens BancShares Inc/NC 6.625% | 1.93% | 0.38% |
| SYF-PASynchrony Financial 5.625% | 0.37% | 0.56% |
| TDS-PUTelephone and Data Systems Inc 6.625% | 0.61% | 0.33% |
| F-PCFord Motor Co 6.000% | 0.24% | 0.62% |
Top 10 holdings
Largest positions by portfolio weight.
PFFA198 holdings total
| Name | Weight |
|---|---|
| STRDStrategy Inc 10.000% | 3.01% |
| GOOGMAlphabet Inc 6.250% | 2.85% |
| GOOGNAlphabet Inc 6.250% | 2.65% |
| ET-PIEnergy Transfer LP 9.250% | 2.36% |
| TDS-PVTelephone and Data Systems Inc 6.000% | 2.32% |
| CTGGQwest Corp 6.500% | 2.27% |
| BANC-PFBanc of California Inc 7.750% | 2.13% |
| RLJ-PARLJ Lodging Trust 7.800% | 2.13% |
| GNL-PDGlobal Net Lease Inc 7.500% | 2.07% |
| TWO-PCTwo Harbors Investment Corp 9.105% | 2.04% |
PGX270 holdings total
| Name | Weight |
|---|---|
| JPM-PCJPMorgan Chase & Co 6.00% 12/31/2079 | 1.77% |
| JPM-PDJPMorgan Chase & Co 5.75% 12/31/2079 | 1.53% |
| WFC-PZWells Fargo & Co 4.75% 12/31/2079 | 1.41% |
| JPM-PMJPMorgan Chase & Co 4.20% 12/31/2079 | 1.33% |
| JPM-PLJPMorgan Chase & Co 4.63% 12/31/2079 | 1.32% |
| BAC-PBBank of America Corp 6.00% 12/31/2079 | 1.26% |
| T-PCAT&T Inc 4.75% 12/31/2079 | 1.17% |
| BAC-PMBank of America Corp 5.38% 12/30/2049 | 1.12% |
| JPM-PKJPMorgan Chase & Co 4.55% 12/31/2079 | 1.05% |
| COF-PICapital One Financial Corp 5.00% 12/31/2079 | 1.05% |
Quick verdict
PFFA fits better if you care most about more income today, stronger 5-year returns and faster dividend growth. PGX fits better if you care most about lower fees. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is PFFA or PGX better for dividend income?
It depends on your goals. PFFA currently yields 10.80% Trailing Twelve Months (TTM) while PGX yields 6.95%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between PFFA and PGX?
Virtus InfraCap U.S. Preferred Stock ETF (PFFA) is an ETF listed on AMEX. Invesco Preferred ETF (PGX) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, PFFA or PGX?
PGX has the lower expense ratio. PFFA charges 2.11% a year and PGX charges 0.50%, a difference of $161 a year on a $10,000 investment.
Which has performed better, PFFA or PGX?
Over the last 5 years, PFFA has the higher total return with dividends reinvested: PFFA returned 11.8% and PGX returned -15.7%. Past performance does not predict future returns.
Which is riskier, PFFA or PGX?
Measured by the worst peak-to-trough decline over the last five years, PGX has been riskier: PFFA fell as much as 22.7% and PGX as much as 24.6%. Their betas are 1.07 and 1.21.
How much do PFFA and PGX overlap?
At least 4% of the two portfolios overlap by weight, across 9 shared holdings. The largest shared positions are XELLL, DTK, CRBD. Holding both still adds meaningful diversification.
How often do PFFA and PGX pay dividends?
Both pay monthly. The most recent payments were $0.1725 for PFFA and $0.0573 for PGX.
How much income does $10,000 in PFFA vs PGX generate?
At current TTM yields, $10,000 in PFFA would generate roughly $89.99 per month ($1080 annually). The same amount in PGX would produce about $57.93 per month ($695 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both PFFA and PGX?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare PFFA vs PGX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how PFFA and PGX fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.