FCVT vs. PQDI
FCVT (First Trust SSI Strategic Convertible Securities ETF) and PQDI (Principal Spectrum Preferred and Income ETF) are both Preferred Stock/Convertible Bonds funds. FCVT is actively managed, while PQDI is passively managed. Over the past 5 years, FCVT returned 6.75%/yr vs 3.17%/yr for PQDI. At a 0.48 correlation, their price movements are largely independent. FCVT charges 0.95%/yr vs 0.60%/yr for PQDI.
Performance
FCVT vs. PQDI - Performance Comparison
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Returns By Period
In the year-to-date period, FCVT achieves a 24.74% return, which is significantly higher than PQDI's 1.39% return.
FCVT
- 1D
- -2.29%
- 1M
- 2.99%
- YTD
- 24.74%
- 6M
- 22.65%
- 1Y
- 43.93%
- 3Y*
- 20.64%
- 5Y*
- 6.75%
- 10Y*
- 12.06%
PQDI
- 1D
- -0.11%
- 1M
- 0.48%
- YTD
- 1.39%
- 6M
- 1.47%
- 1Y
- 6.43%
- 3Y*
- 9.15%
- 5Y*
- 3.17%
- 10Y*
- —
FCVT vs. PQDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 24.74% | 19.60% | 11.92% | 7.12% | -20.88% | 4.23% | 41.60% |
PQDI Principal Spectrum Preferred and Income ETF | 1.39% | 8.46% | 9.99% | 6.24% | -9.61% | 3.10% | 9.95% |
Correlation
The correlation between FCVT and PQDI is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2020 | 0.48 |
The correlation between FCVT and PQDI has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.
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Return for Risk
FCVT vs. PQDI — Risk / Return Rank
FCVT
PQDI
FCVT vs. PQDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust SSI Strategic Convertible Securities ETF (FCVT) and Principal Spectrum Preferred and Income ETF (PQDI). 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 | PQDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.42 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 5.21 | 1.95 | +3.26 |
| Martin ratioReturn relative to average drawdown | 18.41 | 8.62 | +9.79 |
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Drawdowns
FCVT vs. PQDI - Drawdown Comparison
The maximum FCVT drawdown since its inception was -31.79%, which is greater than PQDI's maximum drawdown of -17.41%. Use the drawdown chart below to compare losses from any high point for FCVT and PQDI.
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Drawdown Indicators
| FCVT | PQDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.79% | -17.41% | -14.38% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -3.31% | -5.16% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -3.31% | -11.75% |
Max Drawdown (5Y)Largest decline over 5 years | -30.43% | -17.41% | -13.02% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | — | — |
Current DrawdownCurrent decline from peak | -2.29% | -0.43% | -1.86% |
Average DrawdownAverage peak-to-trough decline | -10.32% | -3.48% | -6.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 0.75% | +1.64% |
Volatility
FCVT vs. PQDI - Volatility Comparison
First Trust SSI Strategic Convertible Securities ETF (FCVT) has a higher volatility of 7.27% compared to Principal Spectrum Preferred and Income ETF (PQDI) at 0.89%. This indicates that FCVT's price experiences larger fluctuations and is considered to be riskier than PQDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCVT | PQDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.27% | 0.89% | +6.38% |
Volatility (6M)Calculated over the trailing 6-month period | 14.25% | 2.90% | +11.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.19% | 3.27% | +13.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.37% | 4.70% | +9.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.99% | 4.54% | +10.45% |
FCVT vs. PQDI - Expense Ratio Comparison
FCVT has a 0.95% expense ratio, which is higher than PQDI's 0.60% expense ratio.
Dividends
FCVT vs. PQDI - Dividend Comparison
FCVT's dividend yield for the trailing twelve months is around 1.20%, less than PQDI's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 1.20% | 1.98% | 1.30% | 1.76% | 3.71% | 23.07% | 1.72% | 1.60% | 1.85% | 2.18% | 1.88% | 0.59% |
PQDI Principal Spectrum Preferred and Income ETF | 5.45% | 5.02% | 4.93% | 5.35% | 5.60% | 5.21% | 2.69% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FCVT and PQDI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCVT has higher volatility (7.27%) compared to PQDI (0.89%). In terms of maximum drawdown, FCVT dropped -31.79% vs PQDI's -17.41%.
On 5-year performance, FCVT leads with 6.75% vs 3.17% for PQDI. On fees, PQDI is cheaper at 0.60% per year. On volatility, PQDI has been the lower-risk option at 0.89%. 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 6.75% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PQDI is cheaper with a 0.60% expense ratio, compared with 0.95% for FCVT.
PQDI has the higher dividend yield at 5.45%, compared with 1.20% for FCVT.
They also come from different issuers: First Trust and Principal. Their fees differ too: 0.95% for FCVT and 0.60% for PQDI.
FCVT currently has the higher Sharpe Ratio (2.57 vs 1.97), 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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