Data as of Oct 28, 2026.
FPEI vs PGX: Differences, Returns & Fees
Over the year to Oct 28, 2026, FPEI returned +0.3% to PGX's −9.5%, and PGX charges 0.50% to FPEI's 0.85%.
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Net assets on Oct 27, 2026: $1.9bn for First Trust Institutional Preferred Securities and Income ETF and $3.6bn for Invesco Preferred ETF.
Pair scorecard
PGX costs 0.35 points a year less; their one-year returns differ by 9.8 points; PGX is 1.9 times larger.
| Measure | FPEI | PGX |
|---|---|---|
| Return | ||
| Total return, 1 year | +0.3% | −9.5% |
| Drawdown | ||
| Below its high | 12.3%, high on Nov 5, 2021 | |
| Benchmark | ||
| What it tracks | No index, actively managed | ICE BofA Core Plus Fixed Rate Preferred Securities Index |
| Cost and size | ||
| Expense ratio | 0.85% | 0.50% |
| Net assets, as of Oct 27, 2026 | $1.9bn | $3.6bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 18.1% | 13.1% |
Holdings in common uses holdings dated May 31, 2026 and Jul 31, 2026. Method
Risk and return
Sep 1, 2017 to Oct 23, 2026 · 477 weekly returnsFPEI returned more: +49.0% to +10.1%. FPEI swung less: 10.2% to 12.7%. PGX fell less at its worst: −24.2% to −27.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | FPEI | PGX | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +49.0% | +10.1% | FPEI | Price change plus distributions, reinvested. |
| Annualized | +4.4% | +1.1% | FPEI | Total return as a yearly rate. |
| Price return | −8.8% | −34.4% | FPEI | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 10.2% | 12.7% | FPEI | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 8.2% | 8.9% | FPEI (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −27.2% | −24.2% | PGX | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.22 | −0.06 | FPEI | Return above Treasury bills per unit of volatility. |
| Sortino | 0.27 | −0.09 | FPEI | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.16 | 0.04 | FPEI | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 477 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FPEI and PGX hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jul 31, 2026.
half
0% in common
Only in one fund ↓
Side by side
FPEI and PGX on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FPEI and PGX 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 PGX follows ICE BofA Core Plus Fixed Rate Preferred Securities Index.
- Holdings in common. 0% 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 PGX −9.5% with distributions reinvested, a gap of 9.8 points.
Data as of Oct 28, 2026.
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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%.
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, FPEI or PGX?
- In the year to Oct 28, 2026, with distributions reinvested, FPEI returned +0.3% and PGX −9.5%.
- Which is cheaper, FPEI or PGX?
- PGX is cheaper, by 0.35 percentage points a year. That is about $35 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, FPEI against PGX, data as of Oct 28, 2026. https://etfiq.com/compare/any/fpei-vs-pgx
ETFIQ. (Oct 28, 2026). FPEI against PGX. Retrieved from https://etfiq.com/compare/any/fpei-vs-pgx
[FPEI against PGX (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fpei-vs-pgx)
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