Um, wow, your common's down 5%? Not sure what you have but DOW only down 1.3%, so not sure what you have.
I get your position though, but you can't look at one day to measure your return. I'd guess that the drop today in common are give up from YTD gains. How'd they look on YTD basis?
And not all common div's are bad. As example, here's one of my favorite common div stocks:
ARCC 1/3 - $15.92 Today $16.765 - 7% gain YTD and it also has a current div yield of 9.27%. Calculating the div's paid YTD that's almost 17% return.
Another favorite:
VZ 1/3 - $52.54 Today $55.48 - 5.6% gain YTD and it's also has div yield of 4.38%. Calculating in the div's paid YTD that's a 12% return.
I also like JPM, it's down slightly today, but still up for the year and pays a div (yield 2.79%). YTD return as of today would be about 9.5%.
Comparison, my favorite preferred, ALLY-A. It's basically flat on price has a nice floating rate (currently 7.55%), overall YTD is up about 8%, so below my common w/div.
I'd guess that if you look at some of your preferred's on a YTD basis you'll find they are down from Jan (due to FF rate increase), some maybe barely break even when you factor in their div. I looked back and see you held C-N (don't know if you still do), but it looks like it's down about 3.5% YTD, with it's dividends it's about 4% return YTD. And we'll just ignore what PFH has done.
Point being, I'd be cautious on just giving advise to move to preferred's. It's more about doing the right due diligence and find the right mix.