Preferred stock ETFs provide yields ranging from 6% to 11%, attracting investors seeking higher income than investment-grade bonds. Among the three dominant funds—iShares Preferred and Income Securities ETF (PFF), Global X U.S. Preferred ETF (PFFD), and Virtus InfraCap U.S. Preferred Stock ETF (PFFA)—PFFD stands out for its competitive fee-to-yield profile. PFFD charges an expense ratio of 0.23%, roughly half of PFF's 0.46%, while offering a 6.5% yield from a nearly identical portfolio. PFFA, which uses leverage, delivers an 11% yield but has a significantly higher expense ratio of 2.1%. While PFF offers greater liquidity for institutional investors, PFFD is considered more suitable for retail buyers due to its lower fees.