FPEI vs. GTIP
FPEI (First Trust Institutional Preferred Securities & Income ETF) and GTIP (Goldman Sachs Access Inflation Protected USD Bond ETF) are both exchange-traded funds - FPEI is a Preferred Stock/Convertible Bonds fund actively managed by First Trust, while GTIP is a Inflation-Protected Bonds fund tracking the FTSE Goldman Sachs Treasury Inflation Protected USD Bond Index. FPEI is actively managed, while GTIP is passively managed. Over the past 5 years, FPEI returned 4.18%/yr vs 0.90%/yr for GTIP. At a 0.25 correlation, their price movements are largely independent. FPEI charges 0.85%/yr vs 0.12%/yr for GTIP.
Performance
FPEI vs. GTIP - Performance Comparison
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Returns By Period
In the year-to-date period, FPEI achieves a 1.93% return, which is significantly higher than GTIP's 0.84% return.
FPEI
- 1D
- -0.08%
- 1M
- 0.78%
- YTD
- 1.93%
- 6M
- 2.08%
- 1Y
- 7.95%
- 3Y*
- 11.02%
- 5Y*
- 4.18%
- 10Y*
- —
GTIP
- 1D
- -0.49%
- 1M
- -0.13%
- YTD
- 0.84%
- 6M
- 0.90%
- 1Y
- 3.50%
- 3Y*
- 3.61%
- 5Y*
- 0.90%
- 10Y*
- —
FPEI vs. GTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FPEI First Trust Institutional Preferred Securities & Income ETF | 1.93% | 9.82% | 10.94% | 6.29% | -8.19% | 4.63% | 7.08% | 15.86% | -2.73% |
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 0.84% | 6.63% | 2.04% | 3.88% | -12.14% | 5.86% | 10.83% | 8.33% | 0.32% |
Correlation
The correlation between FPEI and GTIP is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018 | 0.25 |
The correlation between FPEI and GTIP shifts across timeframes, from 0.25 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FPEI vs. GTIP — Risk / Return Rank
FPEI
GTIP
FPEI vs. GTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Institutional Preferred Securities & Income ETF (FPEI) and Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP). 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.
| FPEI | GTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.19 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 1.74 | +0.46 |
| Martin ratioReturn relative to average drawdown | 10.94 | 5.43 | +5.50 |
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Drawdowns
FPEI vs. GTIP - Drawdown Comparison
The maximum FPEI drawdown since its inception was -27.51%, which is greater than GTIP's maximum drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for FPEI and GTIP.
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Drawdown Indicators
| FPEI | GTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.51% | -14.31% | -13.20% |
Max Drawdown (1Y)Largest decline over 1 year | -3.63% | -2.02% | -1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -4.26% | -4.47% | +0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.46% | -14.31% | -2.15% |
Current DrawdownCurrent decline from peak | -0.10% | -1.01% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -4.21% | +1.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.65% | +0.08% |
Volatility
FPEI vs. GTIP - Volatility Comparison
The current volatility for First Trust Institutional Preferred Securities & Income ETF (FPEI) is 0.82%, while Goldman Sachs Access Inflation Protected USD Bond ETF (GTIP) has a volatility of 1.15%. This indicates that FPEI experiences smaller price fluctuations and is considered to be less risky than GTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPEI | GTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 1.15% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 2.47% | +0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.74% | 3.37% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.97% | 6.05% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.83% | 6.00% | +2.83% |
FPEI vs. GTIP - Expense Ratio Comparison
FPEI has a 0.85% expense ratio, which is higher than GTIP's 0.12% expense ratio.
Dividends
FPEI vs. GTIP - Dividend Comparison
FPEI's dividend yield for the trailing twelve months is around 5.70%, more than GTIP's 4.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FPEI First Trust Institutional Preferred Securities & Income ETF | 5.70% | 5.62% | 5.55% | 5.76% | 5.20% | 4.46% | 4.90% | 5.02% | 5.81% | 1.50% |
GTIP Goldman Sachs Access Inflation Protected USD Bond ETF | 4.73% | 4.58% | 3.52% | 2.77% | 6.47% | 3.82% | 1.04% | 2.34% | 0.66% | 0.00% |
Frequently Asked Questions
FPEI and GTIP have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GTIP has higher volatility (1.15%) compared to FPEI (0.82%). In terms of maximum drawdown, FPEI dropped -27.51% vs GTIP's -14.31%.
On 5-year performance, FPEI leads with 4.18% vs 0.90% for GTIP. On fees, GTIP is cheaper at 0.12% per year. On volatility, FPEI has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FPEI has performed better with a 4.18% return vs 0.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GTIP is cheaper with a 0.12% expense ratio, compared with 0.85% for FPEI.
FPEI has the higher dividend yield at 5.70%, compared with 4.73% for GTIP.
FPEI is categorized as Preferred Stock/Convertible Bonds, while GTIP is Inflation-Protected Bonds. They also come from different issuers: First Trust and Goldman Sachs. Their fees differ too: 0.85% for FPEI and 0.12% for GTIP.
FPEI currently has the higher Sharpe Ratio (2.14 vs 1.05), 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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