<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 6.5c -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/cef/2026/cef-2026.xsd#SecurityOnly" roleURI="http://xbrl.sec.gov/cef/role/SecurityOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/cef/2026/cef-2026.xsd#AddressTypeOnly" roleURI="http://xbrl.sec.gov/cef/role/AddressTypeOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/cef/2026/cef-2026.xsd#RiskOnly" roleURI="http://xbrl.sec.gov/cef/role/RiskOnly" />
    <link:roleRef xlink:type="simple" xlink:href="https://xbrl.sec.gov/cef/2026/cef-2026.xsd#CoregistrantOnly" roleURI="http://xbrl.sec.gov/cef/role/CoregistrantOnly" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#hypercube-dimension" arcroleURI="http://xbrl.org/int/dim/arcrole/hypercube-dimension" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-domain" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-domain" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#domain-member" arcroleURI="http://xbrl.org/int/dim/arcrole/domain-member" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#all" arcroleURI="http://xbrl.org/int/dim/arcrole/all" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#notAll" arcroleURI="http://xbrl.org/int/dim/arcrole/notAll" />
    <link:arcroleRef xlink:type="simple" xlink:href="http://www.xbrl.org/2005/xbrldt-2005.xsd#dimension-default" arcroleURI="http://xbrl.org/int/dim/arcrole/dimension-default" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/cef/role/SecurityOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/cef/role/SecurityOnly">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaapClassOfStockDomain" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_CommonSharesMember" xlink:label="loc_pfdCommonSharesMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_pfdCommonSharesMember" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_PreferredSharesMember" xlink:label="loc_pfdPreferredSharesMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapClassOfStockDomain" xlink:to="loc_pfdPreferredSharesMember" xlink:type="arc" order="10" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/cef/role/SecurityOnly">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaapDebtInstrumentNameDomain" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_DebtOutstandingMember" xlink:label="loc_pfdDebtOutstandingMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_us-gaapDebtInstrumentNameDomain" xlink:to="loc_pfdDebtOutstandingMember" xlink:type="arc" order="0" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/cef/role/AddressTypeOnly" />
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/cef/role/RiskOnly">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/cef/2026/cef-2026.xsd#cef_AllRisksMember" xlink:label="loc_cefAllRisksMember" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_MarketEventsRiskMember" xlink:label="loc_pfdMarketEventsRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdMarketEventsRiskMember" xlink:type="arc" order="0" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_PreferredContingentCapitalAndOtherSubordinatedSecuritiesRiskMember" xlink:label="loc_pfdPreferredContingentCapitalAndOtherSubordinatedSecuritiesRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdPreferredContingentCapitalAndOtherSubordinatedSecuritiesRiskMember" xlink:type="arc" order="10" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_ContingentCapitalSecuritiesRiskMember" xlink:label="loc_pfdContingentCapitalSecuritiesRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdContingentCapitalSecuritiesRiskMember" xlink:type="arc" order="20" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_TrustPreferredSecuritiesRiskMember" xlink:label="loc_pfdTrustPreferredSecuritiesRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdTrustPreferredSecuritiesRiskMember" xlink:type="arc" order="30" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_ConcentrationRiskMember" xlink:label="loc_pfdConcentrationRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdConcentrationRiskMember" xlink:type="arc" order="40" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_FinancialsSectorRiskMember" xlink:label="loc_pfdFinancialsSectorRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdFinancialsSectorRiskMember" xlink:type="arc" order="50" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2026/elts/us-gaap-2026.xsd#us-gaap_CreditRiskMember" xlink:label="loc_us-gaapCreditRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_us-gaapCreditRiskMember" xlink:type="arc" order="60" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_HighYieldSecuritiesRiskMember" xlink:label="loc_pfdHighYieldSecuritiesRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdHighYieldSecuritiesRiskMember" xlink:type="arc" order="70" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_CreditAgencyRiskMember" xlink:label="loc_pfdCreditAgencyRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdCreditAgencyRiskMember" xlink:type="arc" order="80" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_InterestRateandDurationRiskMember" xlink:label="loc_pfdInterestRateandDurationRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdInterestRateandDurationRiskMember" xlink:type="arc" order="90" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_LiquidityRiskMember" xlink:label="loc_pfdLiquidityRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdLiquidityRiskMember" xlink:type="arc" order="100" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_ForeignInvestmentRiskMember" xlink:label="loc_pfdForeignInvestmentRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdForeignInvestmentRiskMember" xlink:type="arc" order="110" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_ReinvestmentRiskMember" xlink:label="loc_pfdReinvestmentRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdReinvestmentRiskMember" xlink:type="arc" order="120" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_SelectionRiskMember" xlink:label="loc_pfdSelectionRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdSelectionRiskMember" xlink:type="arc" order="130" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_ManagementRiskMember" xlink:label="loc_pfdManagementRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdManagementRiskMember" xlink:type="arc" order="140" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_LeverageRiskMember" xlink:label="loc_pfdLeverageRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdLeverageRiskMember" xlink:type="arc" order="150" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_RiskOfMarketPriceDiscountFromNetAssetValueMember" xlink:label="loc_pfdRiskOfMarketPriceDiscountFromNetAssetValueMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdRiskOfMarketPriceDiscountFromNetAssetValueMember" xlink:type="arc" order="160" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_ValuationRiskMember" xlink:label="loc_pfdValuationRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdValuationRiskMember" xlink:type="arc" order="170" />
      <link:loc xlink:type="locator" xlink:href="pfd-20260531.xsd#pfd_CybersecurityRiskMember" xlink:label="loc_pfdCybersecurityRiskMember" />
      <link:definitionArc xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="loc_cefAllRisksMember" xlink:to="loc_pfdCybersecurityRiskMember" xlink:type="arc" order="180" />
    </link:definitionLink>
    <link:definitionLink xlink:type="extended" xlink:role="http://xbrl.sec.gov/cef/role/CoregistrantOnly" />
</link:linkbase>
