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PREF vs LCAP
Principal Spectrum Preferred Securities Active ETF vs Principal Capital Appreciation Select ETF
Key differences
PREF is a fixed income ETF, while LCAP is an equity ETF. PREF charges 0.55% a year and LCAP 0.29%.
- PREF is a fixed income fund, while LCAP is an equity fund. They carry different risk/return profiles.
- PREF covers global markets; LCAP covers North America.
- LCAP costs 0.26% less per year.
- PREF is much larger than LCAP. Larger funds are usually more liquid and less likely to close.
- PREF has a longer track record, which may reduce uncertainty around long-term behavior.
Side-by-side comparison
| PREF | LCAP | |
|---|---|---|
| Annual cost (TER) | 0.55% | 0.29% |
| Fund size (AUM) | $1.7B | $319M |
| Since | 2017 | 2025 |
| Dividend yield | 5.08% | 0.10% |
| Asset class | fixed income | equity |
| Region | global | north america |
| Strategy | active selection | active selection |
| CAGR 1Y | +6.0% | +22.6% |
| CAGR 3Y | +9.1% | N/A |
| CAGR 5Y | +3.1% | N/A |
| Sharpe 3Y | 1.43 | N/A |
| Volatility 1Y | 3.09% | 13.15% |
| Max drawdown | -22.99% | -11.31% |
Beyond the comparison: Beacon helps you build, track, and project a portfolio with the ETFs you pick.