EFR vs. FPE

Last updated Jun 25, 2026

EFR (Eaton Vance Senior Floating-Rate Trust) is a stock, while FPE (First Trust Preferred Securities & Income ETF) is Preferred Stock/Convertible Bonds fund actively managed by First Trust. Over the past 10 years, EFR returned 5.74%/yr vs 5.00%/yr for FPE. At a 0.23 correlation, their price movements are largely independent.

Performance

EFR vs. FPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Senior Floating-Rate Trust (EFR) and First Trust Preferred Securities & Income ETF (FPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFR achieves a -2.03% return, which is significantly lower than FPE's 1.02% return. Over the past 10 years, EFR has outperformed FPE with an annualized return of 5.74%, while FPE has yielded a comparatively lower 5.00% annualized return.

EFR

• 1D: 0.10%
• 1M: 0.53%
• YTD: -2.03%
• 6M: -1.45%
• 1Y: -3.83%
• 3Y*: 6.67%
• 5Y*: 3.30%
• 10Y*: 5.74%

FPE

• 1D: 0.11%
• 1M: 0.39%
• YTD: 1.02%
• 6M: 0.86%
• 1Y: 7.03%
• 3Y*: 10.50%
• 5Y*: 2.96%
• 10Y*: 5.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EFR vs. FPE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFR Eaton Vance Senior Floating-Rate Trust	-2.03%	-4.85%	11.32%	29.25%	-18.73%	22.88%	0.83%	16.43%	-6.96%	3.37%
FPE First Trust Preferred Securities & Income ETF	1.02%	9.21%	11.17%	6.84%	-12.77%	5.24%	6.00%	18.15%	-4.98%	11.26%

Correlation

The correlation between EFR and FPE is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Feb 12, 2013	0.23

Return for Risk

EFR vs. FPE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EFR

EFR Risk / Return Rank: 24
EFR Sharpe Ratio Rank: 22
EFR Sortino Ratio Rank: 18
EFR Omega Ratio Rank: 19
EFR Calmar Ratio Rank: 32
EFR Martin Ratio Rank: 30

FPE

FPE Risk / Return Rank: 57
FPE Sharpe Ratio Rank: 61
FPE Sortino Ratio Rank: 63
FPE Omega Ratio Rank: 72
FPE Calmar Ratio Rank: 37
FPE Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EFR vs. FPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Senior Floating-Rate Trust (EFR) and First Trust Preferred Securities & Income ETF (FPE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EFR	FPE	Difference
Sharpe ratio: Return per unit of total volatility	-0.48	1.82	-2.30
Sortino ratio: Return per unit of downside risk	-0.64	2.60	-3.24
Omega ratio: Gain probability vs. loss probability	0.92	1.38	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.33	1.73	-2.06
Martin ratio: Return relative to average drawdown	-0.68	7.59	-8.28

EFR vs. FPE - Sharpe Ratio Comparison

The current EFR Sharpe Ratio is -0.48, which is lower than the FPE Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of EFR and FPE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EFR vs. FPE - Drawdown Comparison

The maximum EFR drawdown since its inception was -60.55%, which is greater than FPE's maximum drawdown of -33.35%. Use the drawdown chart below to compare losses from any high point for EFR and FPE.

Drawdown Indicators

	EFR	FPE	Difference
Max Drawdown Largest peak-to-trough decline	-60.55%	-33.35%	-27.20%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-4.08%	-7.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.30%	-4.66%	-13.64%
Max Drawdown (5Y) Largest decline over 5 years	-25.07%	-19.65%	-5.42%
Max Drawdown (10Y) Largest decline over 10 years	-42.04%	-33.35%	-8.69%
Current Drawdown Current decline from peak	-11.05%	-0.78%	-10.27%
Average Drawdown Average peak-to-trough decline	-9.01%	-3.32%	-5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.60%	0.93%	+4.67%

Volatility

EFR vs. FPE - Volatility Comparison

Eaton Vance Senior Floating-Rate Trust (EFR) has a higher volatility of 1.89% compared to First Trust Preferred Securities & Income ETF (FPE) at 0.76%. This indicates that EFR's price experiences larger fluctuations and is considered to be riskier than FPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFR	FPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.89%	0.76%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	6.61%	3.12%	+3.49%
Volatility (1Y) Calculated over the trailing 1-year period	8.00%	3.88%	+4.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.06%	6.62%	+6.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.93%	10.17%	+4.76%

Dividends

EFR vs. FPE - Dividend Comparison

EFR's dividend yield for the trailing twelve months is around 8.88%, more than FPE's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFR Eaton Vance Senior Floating-Rate Trust	8.88%	9.53%	9.76%	10.37%	10.39%	5.62%	6.39%	7.34%	7.46%	5.42%	5.82%	6.95%
FPE First Trust Preferred Securities & Income ETF	5.83%	5.81%	5.68%	6.03%	5.67%	4.48%	4.88%	5.32%	6.14%	5.39%	5.97%	5.49%

Frequently Asked Questions

Can I hold both EFR and FPE in my portfolio?

EFR and FPE have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFR or FPE?

EFR has higher volatility (1.89%) compared to FPE (0.76%). In terms of maximum drawdown, EFR dropped -60.55% vs FPE's -33.35%.

Which has better risk-adjusted returns?

FPE currently has the higher Sharpe Ratio (1.82 vs -0.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.