Which returned more over the last year, FPE or PGX?

In the year to Oct 28, 2026, with distributions reinvested, FPE returned −2.6% and PGX −9.5%.

Which is cheaper, FPE or PGX?

PGX is cheaper, by 0.33 percentage points a year. That is about $33 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do FPE and PGX overlap with the S&P 500?

By their latest filed holdings, 0% of FPE and 0% of PGX by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

FPE vs PGX: Differences, Returns & Fees

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Over the year to Oct 28, 2026, FPE returned −2.6% to PGX's −9.5%, and PGX charges 0.50% to FPE's 0.83%.

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Net assets on Oct 27, 2026: $5.8bn for First Trust Preferred Securities and Income ETF and $3.6bn for Invesco Preferred ETF.

FPE on its own →PGX on its own →

At a glance

−2.6%

FPE total return, 1 year

−9.5%

PGX total return, 1 year

0.83%

FPE expense ratio

0.50%

PGX expense ratio

Pair scorecard

PGX costs 0.33 points a year less; their one-year returns differ by 6.9 points; FPE is 1.6 times larger.

FPE vs PGX: Differences, Returns & Fees
Measure	FPE	PGX
Return
Measure	FPE	PGX
Total return, 1 year	−2.6%	−9.5%
Drawdown
Measure	FPE	PGX
Below its high	4.3%, high on Feb 20, 2026	12.3%, high on Nov 5, 2021
Benchmark
Measure	FPE	PGX
What it tracks	No index, actively managed	ICE BofA Core Plus Fixed Rate Preferred Securities Index
Cost and size
Measure	FPE	PGX
Expense ratio	0.83%	0.50%
Net assets, as of Oct 27, 2026	$5.8bn	$3.6bn
Holdings
Measure	FPE	PGX
Holdings in common	17%
Top ten holdings, share of the fund	15.0%	13.1%

Holdings in common uses holdings dated May 31, 2026 and Jul 31, 2026. Method

Risk and return

Feb 22, 2013 to Oct 23, 2026 · 713 weekly returns

FPE PGX

Return

Total return edge FPE +80.1% +47.1%

Annualized edge FPE +4.4% +2.9%

Price return edge FPE −16.1% −33.0%

Risk

Volatility edge FPE (slight) 10.0% 10.8%

Max drawdown edge PGX −30.1% −24.2%

Risk-adjusted

Sharpe edge FPE 0.29 0.14

Sortino edge FPE 0.40 0.20

Calmar edge FPE 0.15 0.12

Reading

FPE returned more: +80.1% to +47.1%. FPE swung slightly less: 10.0% to 10.8%. PGX fell less at its worst: −24.2% to −30.1%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FPE vs PGX: Differences, Returns & Fees
Measure	FPE	PGX	Edge	How it is measured
Return
Total return	+80.1%	+47.1%	FPE	Price change plus distributions, reinvested.
Annualized	+4.4%	+2.9%	FPE	Total return as a yearly rate.
Price return	−16.1%	−33.0%	FPE	Price change alone, distributions left out.
Risk
Volatility	10.0%	10.8%	FPE (slight)	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	7.3%	7.6%	FPE (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−30.1%	−24.2%	PGX	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.29	0.14	FPE	Return above Treasury bills per unit of volatility.
Sortino	0.40	0.20	FPE	Return above Treasury bills per unit of downside deviation.
Calmar	0.15	0.12	FPE	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 713 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

17%

By the books each fund has filed, FPE and PGX hold 17% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jul 31, 2026.

50%

0 half 100%

half

17% in common

Positions both hold · largest shared weight first FPE PGX

NEXTERA ENERGY CAPITAL HOLDINGS INC SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085 1.33% 0.82%

XCEL ENERGY INC 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085 1.23% 0.82%

AEGON FUNDING COMPANY LLC 5.10% SUBORDINATED NOTES DUE DECEMBER 15, 2049 0.93% 0.67%

DTE ENERGY COMPANY 6.250% JUNIOR SUBORDINATED DEBENTURES DUE ON OCTOBER 1, 2085 0.98% 0.56%

ATHENE HOLDING LTD JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064 0.71% 0.55%

COREBRIDGE FINANCIAL INC 6.375% JUNIOR SUBORDINATED NOTES DUE DECEMBER 15,2064. 1.05% 0.52%

ATHENE HOLDING LTD 6.35%DEP 1/1000TH PERP NON CUM PFD SER A 0.49% 0.80%

ATHENE HOLDING LTD DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 7.750% FIXED-RATE RESET PERPETUAL NON-CUMULATIV 0.50% 0.48%

BANK OF AMERICA CORP DEP SHS EACH REP A 1/1,000TH INT IN A SHARE OF BANK OF AMERICA CORP 5.375% NON-CUMULATIVE PREFERRED STOCK, SERIES KK 0.43% 1.14%

EQUITABLE HOLDINGS INC 5.25% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED STOCK 0.42% 0.59%

AFFILIATED MANAGERS GROUP INC FIXED JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2064 0.45% 0.41%

TPG OPERATING GROUP II LP FIXED-RATE JUNIOR SUBORDINATED NOTES DUE ON MARCH 15, 2064 0.48% 0.36%

Only in one fund ↓

Only in FPE

BAC V6.625 PERP 2.52%

WELLS FARGO & COMPANY 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L 2.08%

BACR V8 PERP 1.67%

JPM V6.875 PERP NN 1.35%

BNP V7.2 PERP 144A 1.26%

ACAFP V7.125 PERP 144A 1.21%

C V6.625 PERP 1.20%

HIG F 02/12/47 ICON, due Feb 12, 2047 1.09%

Only in PGX

JPMorgan Chase & Co., Series EE, Pfd. 1.77%

JPMorgan Chase & Co., Series MM, Pfd. 1.31%

Bank of America Corp., Series GG, Pfd. 1.27%

Bank of America Corp., Series K, Pfd. 1.02%

Morgan Stanley, Series I, Pfd. 0.95%

Duke Energy Corp., Series A, Pfd. 0.94%

AT&T Inc., Series A, Pfd. 0.89%

Morgan Stanley, Series O, Pfd. 0.84%

Check overlap with more funds →

Side by side

FPE First Trust Preferred Securities and Income ETF PGX Invesco Preferred ETF

Where it sits Bond ETF Bond ETF

Issuer First Trust Invesco

What it is Actively managed Tracks an index

Total return, 1 year −2.6% −9.5%

Expense ratio 0.83% 0.50%

Already in the S&P 500 0.0% 0.0%

Holdings 263 273

Net assets, as of Oct 27, 2026 $5.8bn $3.6bn

FPE and PGX on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-9E15FF958D

FPE and PGX are built for the same job. How do they differ in cost, holdings and results?

What each follows. FPE follows No index, actively managed and PGX follows ICE BofA Core Plus Fixed Rate Preferred Securities Index.
Holdings in common. 17% of the weight is in the same securities (holdings dated Jul 31, 2026 and May 31, 2026).
One-year total return. Over 1 year to Oct 28, 2026 FPE returned −2.6% and PGX −9.5% with distributions reinvested, a gap of 6.9 points.

Data as of Oct 28, 2026.

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About each fund

FPE

FPE is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned −2.6% with distributions reinvested. The prospectus expense ratio is 0.83% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 263 positions, with the top ten at 15.0%. It sat 4.3% below its high of Feb 20, 2026 on Oct 28, 2026.

PGX

PGX tracks an index. Over the year to Oct 28, 2026 it returned −9.5% with distributions reinvested. The prospectus expense ratio is 0.50% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 273 positions, with the top ten at 13.1%. It sat 12.3% below its high of Nov 5, 2021 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, FPE or PGX?: In the year to Oct 28, 2026, with distributions reinvested, FPE returned −2.6% and PGX −9.5%.
Which is cheaper, FPE or PGX?: PGX is cheaper, by 0.33 percentage points a year. That is about $33 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FPE and PGX overlap with the S&P 500?: By their latest filed holdings, 0% of FPE and 0% of PGX by weight is stocks the S&P 500 already holds.

Other comparisons

FPE vs PFXF FPE vs PFF FPE vs VRP FPE vs PFFA PGX vs VRP PGX vs PREF PFF vs PGX PFFA vs PGX

Where to next

FPE on its own →PGX on its own →Hold both: look the portfolio through →Rankings →FPE dividend history →FPE holdings →PGX dividend history →PGX holdings →Standards and sources →

Sources and dates

FPE filings on SEC EDGAR ↗

FPE prospectus with the expense ratio (SEC) ↗

First Trust page for FPE ↗

PGX filings on SEC EDGAR ↗

PGX prospectus with the expense ratio (SEC) ↗

Invesco page for PGX ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, FPE against PGX, data as of Oct 28, 2026. https://etfiq.com/compare/any/fpe-vs-pgx

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.