Which returned more over the last year, FPEI or PFFD?

In the year to Oct 28, 2026, with distributions reinvested, FPEI returned +0.3% and PFFD −6.2%.

Which is cheaper, FPEI or PFFD?

PFFD is cheaper, by 0.62 percentage points a year. That is about $62 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do FPEI and PFFD overlap with the S&P 500?

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

Data as of Oct 28, 2026.

Across categories

FPEI vs PFFD: Differences, Returns & Fees

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Over the year to Oct 28, 2026, FPEI returned +0.3% to PFFD's −6.2%, and PFFD charges 0.23% to FPEI's 0.85%.

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Net assets: $1.9bn on Oct 27, 2026 for First Trust Institutional Preferred Securities and Income ETF, and $2.0bn on Oct 12, 2026 for Global X U.S. Preferred ETF.

FPEI on its own →PFFD on its own →

At a glance

+0.3%

FPEI total return, 1 year

−6.2%

PFFD total return, 1 year

0.85%

FPEI expense ratio

0.23%

PFFD expense ratio

Pair scorecard

PFFD costs 0.62 points a year less; their one-year returns differ by 6.5 points; PFFD is 1.1 times larger.

FPEI vs PFFD: Differences, Returns & Fees
Measure	FPEI	PFFD
Return
Measure	FPEI	PFFD
Total return, 1 year	+0.3%	−6.2%
Drawdown
Measure	FPEI	PFFD
Below its high		10.5%, high on Nov 5, 2021
Benchmark
Measure	FPEI	PFFD
What it tracks	No index, actively managed	ICE BofA Diversified Core U.S. Preferred Securities Index
Cost and size
Measure	FPEI	PFFD
Expense ratio	0.85%	0.23%
Net assets, as of Oct 12, 2026	$1.9bn	$2.0bn
Holdings
Measure	FPEI	PFFD
Holdings in common	1%
Top ten holdings, share of the fund	18.1%	21.2%

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

Risk and return

Sep 22, 2017 to Oct 23, 2026 · 474 weekly returns

FPEI PFFD

Return

Total return edge FPEI +48.7% +16.8%

Annualized edge FPEI +4.4% +1.7%

Price return edge FPEI −8.7% −31.8%

Risk

Volatility edge FPEI 10.2% 12.9%

Max drawdown edge PFFD (slight) −27.2% −26.1%

Risk-adjusted

Sharpe edge FPEI 0.22 −0.01

Sortino edge FPEI 0.27 −0.02

Calmar edge FPEI 0.16 0.07

Reading

FPEI returned more: +48.7% to +16.8%. FPEI swung less: 10.2% to 12.9%. PFFD fell slightly less at its worst: −26.1% to −27.2%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: FPEI vs PFFD: Differences, Returns & Fees
Measure	FPEI	PFFD	Edge	How it is measured
Return
Total return	+48.7%	+16.8%	FPEI	Price change plus distributions, reinvested.
Annualized	+4.4%	+1.7%	FPEI	Total return as a yearly rate.
Price return	−8.7%	−31.8%	FPEI	Price change alone, distributions left out.
Risk
Volatility	10.2%	12.9%	FPEI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	8.2%	9.0%	FPEI (slight)	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−27.2%	−26.1%	PFFD (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	0.22	−0.01	FPEI	Return above Treasury bills per unit of volatility.
Sortino	0.27	−0.02	FPEI	Return above Treasury bills per unit of downside deviation.
Calmar	0.16	0.07	FPEI	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 474 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, FPEI and PFFD hold 1% 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

1% in common

Positions both hold · largest shared weight first FPEI PFFD

WELLS FARGO & COMPANY 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L 1.08% 2.25%

Only in one fund ↓

Only in FPEI

BAC V6.625 PERP 2.90%

ACAFP V7.125 PERP 144A 2.02%

C V6.625 PERP 1.89%

INTNED V7 PERP . 1.73%

BBVASM V7.75 PERP 1.64%

TD V8.125 10/31/82, due Oct 31, 2082 1.61%

ENBCN V8.5 01/15/84, due Jan 15, 2084 1.52%

SANTAN V9.625 PERP _ 1.46%

Only in PFFD

Boeing Co/The PREFERRED STOCK 4.70%

Hewlett Packard Enterprise Co PREFERRED STOCK 2.71%

Citigroup Capital XIII PREFERRED STOCK 2.20%

Microchip Technology Inc PREFERRED STOCK 1.76%

NextEra Energy Inc PREFERRED STOCK 1.71%

KKR & Co Inc PREFERRED STOCK 1.70%

Southern Co/The PREFERRED STOCK 1.64%

Bank of America Corp PREFERRED STOCK 1.30%

Check overlap with more funds →

Side by side

FPEI First Trust Institutional Preferred Securities and Income ETF PFFD Global X U.S. Preferred ETF

Where it sits Bond ETF Bond ETF

Issuer First Trust Global X

What it is Actively managed Tracks an index

Total return, 1 year +0.3% −6.2%

Expense ratio 0.85% 0.23%

Already in the S&P 500 0.0% 0.0%

Holdings 177 224

Net assets, FPEI as of Oct 27, 2026 and PFFD as of Oct 12, 2026 $1.9bn $2.0bn

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

Client brief · page 1 of 2 Report BR-7F88863AFD

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

What each follows. FPEI follows No index, actively managed and PFFD follows ICE BofA Diversified Core U.S. Preferred Securities Index.
Holdings in common. 1% 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 FPEI returned +0.3% and PFFD −6.2% with distributions reinvested, a gap of 6.5 points.

Data as of Oct 28, 2026.

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About each fund

FPEI

FPEI is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +0.3% with distributions reinvested. The prospectus expense ratio is 0.85% 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 177 positions, with the top ten at 18.1%.

PFFD

PFFD tracks an index. Over the year to Oct 28, 2026 it returned −6.2% with distributions reinvested. The prospectus expense ratio is 0.23% a year. By its holdings filed for May 31, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 224 positions, with the top ten at 21.2%. It sat 10.5% below its high of Nov 5, 2021 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, FPEI or PFFD?: In the year to Oct 28, 2026, with distributions reinvested, FPEI returned +0.3% and PFFD −6.2%.
Which is cheaper, FPEI or PFFD?: PFFD is cheaper, by 0.62 percentage points a year. That is about $62 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do FPEI and PFFD overlap with the S&P 500?: By their latest filed holdings, 0% of FPEI and 0% of PFFD by weight is stocks the S&P 500 already holds.

Other comparisons

FPEI vs PREF FPEI vs PFXF FPEI vs PFFA FPEI vs VRP PFFD vs PREF PFFD vs PFXF PFFD vs VRP PFFD vs PGX

Where to next

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

Sources and dates

FPEI filings on SEC EDGAR ↗

FPEI prospectus with the expense ratio (SEC) ↗

First Trust page for FPEI ↗

PFFD filings on SEC EDGAR ↗

PFFD prospectus with the expense ratio (SEC) ↗

Global X page for PFFD ↗

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, FPEI against PFFD, data as of Oct 28, 2026. https://etfiq.com/compare/any/fpei-vs-pffd

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