FPE vs. IPPP

Last updated Jun 4, 2026

FPE (First Trust Preferred Securities & Income ETF) and IPPP (Preferred-Plus ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. FPE charges 0.85%/yr vs 1.27%/yr for IPPP.

Performance

FPE vs. IPPP - Performance Comparison

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

Returns By Period

FPE

• 1D: -0.11%
• 1M: 0.16%
• YTD: 0.97%
• 6M: 1.26%
• 1Y: 8.50%
• 3Y*: 10.04%
• 5Y*: 3.08%
• 10Y*: 5.04%

IPPP

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FPE vs. IPPP - Yearly Performance Comparison

	2026 (YTD)
FPE First Trust Preferred Securities & Income ETF	-0.01%
IPPP Preferred-Plus ETF	0.00%

FPE vs. IPPP - Sectors Allocation Comparison

Sectors	FPE	IPPP
Financial Services	9.2%	-
Utilities	3.1%	100.0%
Real Estate	2.3%	-
Consumer Defensive	0.8%	-
Communication Services	0.4%	-
Industrials	0.4%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Energy	-	-
Healthcare	-	-
Technology	-	-

Return for Risk

FPE vs. IPPP — Risk / Return Rank

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

FPE

FPE Risk / Return Rank: 61
FPE Sharpe Ratio Rank: 65
FPE Sortino Ratio Rank: 67
FPE Omega Ratio Rank: 77
FPE Calmar Ratio Rank: 42
FPE Martin Ratio Rank: 54

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.

FPE vs. IPPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Preferred Securities & Income ETF (FPE) and Preferred-Plus ETF (IPPP). 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.

	FPE	IPPP	Difference
Sharpe ratio Return per unit of total volatility	2.22	—	—
Sortino ratio Return per unit of downside risk	3.15	—	—
Omega ratio Gain probability vs. loss probability	1.47	—	—
Calmar ratio Return relative to maximum drawdown	2.09	—	—
Martin ratio Return relative to average drawdown	9.47	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FPE	IPPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	—	—

Drawdowns

FPE vs. IPPP - Drawdown Comparison

The maximum FPE drawdown since its inception was -33.35%, which is greater than IPPP's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FPE and IPPP.

Drawdown Indicators

	FPE	IPPP	Difference
Max Drawdown Largest peak-to-trough decline	-33.35%	0.00%	-33.35%
Max Drawdown (1Y) Largest decline over 1 year	-4.08%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.65%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.35%	—	—
Current Drawdown Current decline from peak	-0.84%	0.00%	-0.84%
Average Drawdown Average peak-to-trough decline	-3.33%	0.00%	-3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	—	—

Volatility

Volatility by Period

	FPE	IPPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.85%	0.00%	+3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.61%	0.00%	+6.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.17%	0.00%	+10.17%

FPE vs. IPPP - Expense Ratio Comparison

FPE has a 0.85% expense ratio, which is lower than IPPP's 1.27% expense ratio.

Dividends

FPE vs. IPPP - Dividend Comparison

FPE's dividend yield for the trailing twelve months is around 5.84%, while IPPP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPE First Trust Preferred Securities & Income ETF	5.84%	5.81%	5.68%	6.03%	5.67%	4.48%	4.88%	5.32%	6.14%	5.39%	5.97%	5.49%
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, FPE or IPPP?

On fees, FPE is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FPE or IPPP?

FPE is cheaper with a 0.85% expense ratio, compared with 1.27% for IPPP.

Which ETF pays a higher dividend yield, FPE or IPPP?

FPE has the higher dividend yield at 5.84%, compared with 0.00% for IPPP.

What is the main difference between FPE and IPPP?

They also come from different issuers: First Trust and Innovative Portfolios. Their fees differ too: 0.85% for FPE and 1.27% for IPPP.