This study investigates the field-induced rheological characteristics of perfluorinated polyether (PFPE) based magnetorheological (MR) fluids. Four PFPE based MR fluid samples were prepared, each with a different solid loading. All samples contain a single grade of carbonyl iron powder with an average particle diameter of 2 μm. The PFPE base fluid enhances sedimentation stability and its composition and qualities are introduced in the paper. The magnetization characteristics of a fluid sample are measured and its magnetic properties are compared to known models from the literature. The shear yield stress in all fluid samples is investigated experimentally, as a function of solid loading and the magnetic flux density. The results are compared to established shear stress models for MR fluids. Model parameters are set to conform to the PFPE based MR fluids. The PFPE based MR fluids are shown to have a comparable shear yield stress, when compared to commercially available MR fluids with a comparable particle loading and particle size.