FCVT vs. EPRF
FCVT (First Trust SSI Strategic Convertible Securities ETF) and EPRF (Innovator S&P High Quality Preferred ETF) are both exchange-traded funds - FCVT is a Convertible Bonds fund actively managed by First Trust, while EPRF is a Preferred Stock fund tracking the S&P U.S. High Quality Preferred Stock Index. FCVT is actively managed, while EPRF is passively managed. Over the past 5 years, FCVT returned 5.37%/yr vs -2.10%/yr for EPRF. Their 0.42 correlation means their historical movements had little consistent relationship. FCVT charges 0.95%/yr vs 0.47%/yr for EPRF.
Performance
FCVT vs. EPRF - Performance Comparison
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Returns By Period
In the year-to-date period, FCVT achieves a 14.79% return, which is significantly higher than EPRF's -2.35% return.
FCVT
- 1D
- 0.19%
- 1M
- -4.59%
- 6M
- 8.08%
- YTD
- 14.79%
- 1Y
- 27.00%
- 3Y*
- 15.74%
- 5Y*
- 5.37%
- 10Y*
- 10.87%
- ALL TIME*
- 10.52%
EPRF
- 1D
- 0.11%
- 1M
- 0.38%
- 6M
- -3.64%
- YTD
- -2.35%
- 1Y
- -1.86%
- 3Y*
- 2.69%
- 5Y*
- -2.10%
- 10Y*
- —
- ALL TIME*
- 1.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $130.96K | $126.83K | $172.59K | |
| $3.38M | $2.19M | $1.42M |
FCVT vs. EPRF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 14.79% | 19.60% | 11.92% | 7.12% | -20.88% | 4.23% | 51.02% | 22.30% | -2.28% | 5.08% |
EPRF Innovator S&P High Quality Preferred ETF | -2.35% | 2.69% | 3.46% | 9.43% | -20.68% | 1.37% | 7.38% | 19.54% | -5.58% | -0.39% |
Correlation
The correlation between FCVT and EPRF is 0.42, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.42 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2017 | 0.42 |
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Return for Risk
FCVT vs. EPRF — Risk / Return Rank
FCVT
EPRF
FCVT vs. EPRF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust SSI Strategic Convertible Securities ETF (FCVT) and Innovator S&P High Quality Preferred ETF (EPRF). 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.
| FCVT | EPRF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.96 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | -0.23 | +2.05 |
| Martin ratioReturn relative to average drawdown | 7.30 | -0.41 | +7.71 |
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Drawdowns
FCVT vs. EPRF - Drawdown Comparison
The maximum FCVT drawdown since its inception was -31.79%, which is greater than EPRF's maximum drawdown of -26.82%. Use the drawdown chart below to compare losses from any high point for FCVT and EPRF.
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Drawdown Indicators
| FCVT | EPRF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.79% | -26.82% | -4.97% |
Max Drawdown (1Y)Largest decline over 1 year | -13.87% | -8.59% | -5.28% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -12.29% | -2.77% |
Max Drawdown (5Y)Largest decline over 5 years | -30.43% | -25.23% | -5.20% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | — | — |
Current DrawdownCurrent decline from peak | -10.08% | -11.03% | +0.95% |
Average DrawdownAverage peak-to-trough decline | -10.29% | -7.44% | -2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 4.83% | -1.38% |
Volatility
FCVT vs. EPRF - Volatility Comparison
First Trust SSI Strategic Convertible Securities ETF (FCVT) has a higher volatility of 7.70% compared to Innovator S&P High Quality Preferred ETF (EPRF) at 1.91%. This indicates that FCVT's price experiences larger fluctuations and is considered to be riskier than EPRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCVT | EPRF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.70% | 1.91% | +5.79% |
Volatility (6M)Calculated over the trailing 6-month period | 16.06% | 5.51% | +10.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 7.44% | +11.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.76% | 11.85% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 13.39% | +1.60% |
FCVT vs. EPRF - Expense Ratio Comparison
FCVT has a 0.95% expense ratio, which is higher than EPRF's 0.47% expense ratio.
Dividends
FCVT vs. EPRF - Dividend Comparison
FCVT's dividend yield for the trailing twelve months is around 1.14%, less than EPRF's 6.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPRF Innovator S&P High Quality Preferred ETF | 6.18% | 6.03% | 6.13% | 5.71% | 5.67% | 4.70% | 4.92% | 5.01% | 5.27% | 2.59% | 0.00% | 0.00% |
FCVT First Trust SSI Strategic Convertible Securities ETF | 1.14% | 1.98% | 1.30% | 1.76% | 3.71% | 23.07% | 1.72% | 1.60% | 1.85% | 2.18% | 1.88% | 0.59% |
Frequently Asked Questions
FCVT and EPRF have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCVT has higher volatility (7.70%) compared to EPRF (1.91%). In terms of maximum drawdown, FCVT dropped -31.79% vs EPRF's -26.82%.
On 5-year performance, FCVT leads with 5.37% vs -2.10% for EPRF. On fees, EPRF is cheaper at 0.47% per year. On volatility, EPRF has been the lower-risk option at 1.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FCVT has performed better with a 5.37% return vs -2.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPRF is cheaper with a 0.47% expense ratio, compared with 0.95% for FCVT.
EPRF has the higher dividend yield at 6.18%, compared with 1.14% for FCVT.
FCVT is categorized as Convertible Bonds, while EPRF is Preferred Stock. They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.95% for FCVT and 0.47% for EPRF.
FCVT currently has the higher Sharpe Ratio (1.32 vs -0.27), 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.
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