FCPI vs. FPEIX

Last updated Jun 4, 2026

FCPI (Fidelity Stocks for Inflation ETF) and FPEIX (First Trust Preferred Securities and Income Fund) are both funds - FCPI is a Large Cap Blend Equities fund tracking the Fidelity Stocks for Inflation Factor Index, while FPEIX is a Preferred Stock/Convertible Bonds fund managed by First Trust. Over the past 5 years, FCPI returned 15.12%/yr vs 2.99%/yr for FPEIX. At a 0.38 correlation, their price movements are largely independent. FCPI charges 0.15%/yr vs 1.00%/yr for FPEIX.

Performance

FCPI vs. FPEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Stocks for Inflation ETF (FCPI) and First Trust Preferred Securities and Income Fund (FPEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCPI achieves a 11.23% return, which is significantly higher than FPEIX's 0.36% return.

FCPI

• 1D: -0.28%
• 1M: 4.20%
• YTD: 11.23%
• 6M: 10.30%
• 1Y: 22.08%
• 3Y*: 21.82%
• 5Y*: 15.12%
• 10Y*: —

FPEIX

• 1D: -0.05%
• 1M: -0.04%
• YTD: 0.36%
• 6M: 0.86%
• 1Y: 8.25%
• 3Y*: 9.82%
• 5Y*: 2.99%
• 10Y*: 4.98%

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

FCPI vs. FPEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCPI Fidelity Stocks for Inflation ETF	11.23%	16.24%	25.54%	15.40%	-7.11%	34.19%	2.19%	4.43%
FPEIX First Trust Preferred Securities and Income Fund	0.36%	9.48%	10.99%	5.32%	-11.60%	4.85%	6.01%	1.58%

Correlation

The correlation between FCPI and FPEIX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	0.38

Return for Risk

FCPI vs. FPEIX — Risk / Return Rank

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

FCPI

FCPI Risk / Return Rank: 56
FCPI Sharpe Ratio Rank: 54
FCPI Sortino Ratio Rank: 54
FCPI Omega Ratio Rank: 54
FCPI Calmar Ratio Rank: 56
FCPI Martin Ratio Rank: 63

FPEIX

FPEIX Risk / Return Rank: 72
FPEIX Sharpe Ratio Rank: 87
FPEIX Sortino Ratio Rank: 92
FPEIX Omega Ratio Rank: 91
FPEIX Calmar Ratio Rank: 41
FPEIX Martin Ratio Rank: 47

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.

FCPI vs. FPEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Stocks for Inflation ETF (FCPI) and First Trust Preferred Securities and Income Fund (FPEIX). 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.

	FCPI	FPEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.83	-0.94
Sortino ratio: Return per unit of downside risk	2.62	4.57	-1.95
Omega ratio: Gain probability vs. loss probability	1.34	1.67	-0.33
Calmar ratio: Return relative to maximum drawdown	2.82	2.44	+0.37
Martin ratio: Return relative to average drawdown	11.56	9.86	+1.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCPI vs. FPEIX - Sharpe Ratio Comparison

The current FCPI Sharpe Ratio is 1.89, which is lower than the FPEIX Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of FCPI and FPEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FCPI	FPEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.83	-0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.58	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.77	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.84	-0.10

Drawdowns

FCPI vs. FPEIX - Drawdown Comparison

The maximum FCPI drawdown since its inception was -37.26%, which is greater than FPEIX's maximum drawdown of -27.83%. Use the drawdown chart below to compare losses from any high point for FCPI and FPEIX.

Drawdown Indicators

	FCPI	FPEIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.26%	-27.83%	-9.43%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-3.62%	-4.26%
Max Drawdown (3Y) Largest decline over 3 years	-17.44%	-4.11%	-13.33%
Max Drawdown (5Y) Largest decline over 5 years	-18.25%	-19.66%	+1.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-27.83%	—
Current Drawdown Current decline from peak	-0.28%	-0.82%	+0.54%
Average Drawdown Average peak-to-trough decline	-4.38%	-2.86%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	0.88%	+1.04%

Volatility

FCPI vs. FPEIX - Volatility Comparison

Fidelity Stocks for Inflation ETF (FCPI) has a higher volatility of 3.75% compared to First Trust Preferred Securities and Income Fund (FPEIX) at 0.96%. This indicates that FCPI's price experiences larger fluctuations and is considered to be riskier than FPEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCPI	FPEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	0.96%	+2.79%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	2.46%	+6.83%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	3.13%	+8.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	5.25%	+11.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.13%	6.54%	+13.59%

FCPI vs. FPEIX - Expense Ratio Comparison

FCPI has a 0.15% expense ratio, which is lower than FPEIX's 1.00% expense ratio.

Dividends

FCPI vs. FPEIX - Dividend Comparison

FCPI's dividend yield for the trailing twelve months is around 1.61%, less than FPEIX's 5.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCPI Fidelity Stocks for Inflation ETF	1.61%	1.74%	1.29%	1.88%	1.77%	1.19%	3.53%	0.43%	0.00%	0.00%	0.00%	0.00%
FPEIX First Trust Preferred Securities and Income Fund	5.02%	5.40%	5.60%	5.17%	5.30%	4.70%	4.88%	5.36%	5.93%	5.36%	5.66%	5.56%

Frequently Asked Questions

Can I hold both FCPI and FPEIX in my portfolio?

FCPI and FPEIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCPI or FPEIX?

FCPI has higher volatility (3.75%) compared to FPEIX (0.96%). In terms of maximum drawdown, FCPI dropped -37.26% vs FPEIX's -27.83%.

Which has better risk-adjusted returns?

FPEIX currently has the higher Sharpe Ratio (2.83 vs 1.89), 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.