VRP vs PFF: Holdings Overlap
VRPInvesco Variable Rate Preferred ETF
Invesco · 343 holdings · $3.0B · as of 2026-05-31
PFFiShares Preferred and Income Securities ETF
iShares · 455 holdings · $13.3B · as of 2026-03-31
Holdings snapshots are 61 days apart (VRP: 2026-05-31, PFF: 2026-03-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are VRP and PFF?
Invesco Variable Rate Preferred ETF (VRP, by Invesco) holds 343 positions; iShares Preferred and Income Securities ETF (PFF, by iShares) holds 455. They have 88 holdings in common, and by portfolio weight the two funds are 12.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 12.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 88VRP holds 343 · PFF holds 455
- Weight in Shared Holdings
- VRP 12%·PFF 17%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in VRP
255 of 343 positions (85.5% of the fund) are not held by PFF. Showing the top 30 by weight.
- Bank of America Corp.1.12%
- JPMorgan Chase & Co., Series OO1.10%
- Citigroup Inc., Series GG0.99%
- JPMorgan Chase & Co., Series NN0.94%
- Citigroup Inc.0.91%
- Bank of America Corp.0.91%
Only in PFF
367 of 455 positions (81.2% of the fund) are not held by VRP. Showing the top 30 by weight.
- Boeing Co. 6% SER A DEP SHS REPSTG 1/20TH INT MANDATORY CONV PFD3.98%
- Oracle Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK2.40%
- Wells Fargo & Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L2.29%
- Albemarle Corp DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 7.25% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK1.76%
- Strategy Inc. VARIABLE RATE SERIES A PERPETUAL STRETCH PREFERRED STOCK1.49%
- Bank of America Corp. 7.25% NON-CUMULATIVE PERPETUAL CONVERTIBLE PREFERRED STOCK SERIES L1.35%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VRP | -0.1% | +2.5% | +5.3% | +8.6% | +4.1% | +4.9% | 6.16% |
| PFF | +0.9% | +1.9% | +4.1% | +6.2% | +0.8% | +3.0% | 5.41% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in VRP vs PFF →
Shared Holdings(88)
The top 10 shared positions account for 29% of the overlap, led by Citigroup Capital XIII FIXED/FLOAT TRUST PREFERRED SECURITIES, Bank of America Corp. 6.45% FIXED/FLOAT JUNIOR SUBORDINATED NOTES DUE 2066. and Goldman Sachs Group, Inc. 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES D.
| Citigroup Capital XIII FIXED/FLOAT TRUST PREFERRED SECURITIES | 0.92% | 1.41% | 0.92% |
|---|---|---|---|
| Bank of America Corp. 6.45% FIXED/FLOAT JUNIOR SUBORDINATED NOTES DUE 2066. | 0.39% | 0.39% | 0.39% |
| Goldman Sachs Group, Inc. 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES D | 0.38% | 0.55% | 0.38% |
| Morgan Stanley 1/1000TH DEPOSITARY SHARES OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A | 0.32% | 0.44% | 0.32% |
| Athene Holding Ltd 6.35%DEP 1/1000TH PERP NON CUM PFD SER A | 0.31% | 0.43% | 0.31% |
| U.S. Bancorp. 1/1000TH OF SERIES B NON-CUMULATIVE PERPETUAL PREFERRED STOCK | 0.28% | 0.39% | 0.28% |
| Annaly Capital Management, Inc. 6.95% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK | 0.27% | 0.39% | 0.27% |
| Reinsurance Group of America, Incorporated 7.125% FIXED-RATE RESET SUBORDINATED DEBENTURES DUE OCTOBER 15, 2052 | 0.26% | 0.38% | 0.26% |
| Apollo Global Management Inc FIXED-RATE RESETTABLE JUNIOR SUBORDINATED NOTES DUE 9/15/2053 | 0.23% | 0.33% | 0.23% |
| KeyCorp DEPOSITARY SHARES EACH REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF 6.200% FIXED-RATE RESET PERPETUAL NON-CUMULATIVE PREFERRED STOCK | 0.22% | 0.30% | 0.22% |
| Goldman Sachs Group, Inc. 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A | 0.21% | 0.31% | 0.21% |
| Athene Holding Ltd JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064 | 0.21% | 0.29% | 0.21% |
| Agnc Investment Corp DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF A SHARE OF 6.125% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRE | 0.21% | 0.30% | 0.21% |
| Jackson Financial Inc DEPOSITARY SHARES, EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED-RATE RESET NONCUMULATIVE PERPETUAL PREFERRED STOCK | 0.21% | 0.30% | 0.21% |
| MetLife Inc. FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A | 0.20% | 0.27% | 0.20% |
| The Allstate Corporation 5.100% FIXED-TO-FLOATING RATE SUBORDINATED DEBENTURES DUE 2053 | 0.19% | 0.27% | 0.19% |
| Synchrony Financial DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 8.250% FIXED RATE RESET NON-CUMULATIVE PERPETUAL PREFERRED STO | 0.19% | 0.27% | 0.19% |
| The Bank of New York Mellon Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/4,000TH INTEREST IN A SHARE OF SERIES K NONCUMULATIVE PERPETUAL PREFERRED ST | 0.19% | 0.27% | 0.19% |
| Banc Of California Inc. DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 7.75% NON CUMULATIVE PERPETUAL PREFERRED STOCK SERIES F | 0.19% | 0.27% | 0.19% |
| Regions Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OFNON-CUMULATIVE PERPETUAL PREFERRED STOCK, SERIES F | 0.19% | 0.27% | 0.19% |
| Athene Holding Ltd DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 7.750% FIXED-RATE RESET PERPETUAL NON-CUMULATIV | 0.18% | 0.27% | 0.18% |
| KeyCorp DEPOSITARY SHARES EACH REPRESENTING A 1/40TH OWNERSHIP INTEREST IN A SHARE OF FIXED-TO-FLOATING RATE PERPETUAL NON-CUMULATIVE PREFERRED STOCK, | 0.18% | 0.26% | 0.18% |
| CHS Inc CLASS B RESET RATE CUMULATIVE REDEEMABLE PREFERRED STOCK, SERIES 3 | 0.18% | 0.25% | 0.18% |
| Regions Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF 5.700% FIXED-TO-FLOATING RATE NON-CUMULATIVE PERPETU | 0.18% | 0.25% | 0.18% |
| Flagstar Bank National Association DEPOSITARY SHARES, EACH REPRESENTING A 1/40TH INTEREST IN A SHARE OF WFIXED-TO-FLOATING RATE SERIES A NONCUMULATIVE | 0.17% | 0.23% | 0.17% |
Frequently Asked Questions
How much do VRP and PFF overlap?
VRP and PFF overlap by 12.3% of portfolio weight. They share 88 holdings (VRP holds 343 positions and PFF holds 455), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VRP and PFF?
The two portfolios are 12.3% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of VRP and PFF?
The largest positions held by both funds are Citigroup Capital XIII FIXED/FLOAT TRUST PREFERRED SECURITIES, Bank of America Corp. 6.45% FIXED/FLOAT JUNIOR SUBORDINATED NOTES DUE 2066., Goldman Sachs Group, Inc. 1/1000TH INTEREST IN A SHARE OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES D, Morgan Stanley 1/1000TH DEPOSITARY SHARES OF FLOATING RATE NON-CUMULATIVE PREFERRED STOCK, SERIES A and Athene Holding Ltd 6.35%DEP 1/1000TH PERP NON CUM PFD SER A. Together the top 10 shared positions account for 29% of the total overlap.
What does VRP own that PFF doesn't?
255 positions (85.5% of VRP) are unique to VRP, led by Bank of America Corp., JPMorgan Chase & Co., Series OO and Citigroup Inc., Series GG. In the other direction, 367 positions (81.2% of PFF) are unique to PFF.