FPEI vs. PGF
Compare and contrast key facts about First Trust Institutional Preferred Securities & Income ETF (FPEI) and Invesco Financial Preferred ETF (PGF).
FPEI and PGF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FPEI is an actively managed fund by First Trust. It was launched on Aug 22, 2017. PGF is a passively managed fund by Invesco that tracks the performance of the Wachovia Hybrid & Preferred Securities Financial Index. It was launched on Dec 1, 2006.
Performance
FPEI vs. PGF - Performance Comparison
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FPEI vs. PGF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPEI First Trust Institutional Preferred Securities & Income ETF | -0.32% | 9.82% | 10.94% | 6.29% | -8.19% | 4.63% | 7.08% | 15.86% | -4.29% | 2.23% |
PGF Invesco Financial Preferred ETF | -0.67% | 3.40% | 6.01% | 7.73% | -19.22% | 2.65% | 7.23% | 14.55% | -2.82% | 1.54% |
Returns By Period
In the year-to-date period, FPEI achieves a -0.32% return, which is significantly higher than PGF's -0.67% return.
FPEI
- 1D
- 0.32%
- 1M
- -1.38%
- YTD
- -0.32%
- 6M
- 1.38%
- 1Y
- 7.88%
- 3Y*
- 10.60%
- 5Y*
- 4.23%
- 10Y*
- —
PGF
- 1D
- 0.58%
- 1M
- -3.25%
- YTD
- -0.67%
- 6M
- -3.51%
- 1Y
- 3.09%
- 3Y*
- 4.68%
- 5Y*
- -0.50%
- 10Y*
- 2.59%
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FPEI vs. PGF - Expense Ratio Comparison
FPEI has a 0.85% expense ratio, which is higher than PGF's 0.62% expense ratio.
Return for Risk
FPEI vs. PGF — Risk / Return Rank
FPEI
PGF
FPEI vs. PGF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Institutional Preferred Securities & Income ETF (FPEI) and Invesco Financial Preferred ETF (PGF). 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.
| FPEI | PGF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.74 | 0.40 | +1.33 |
Sortino ratioReturn per unit of downside risk | 2.29 | 0.60 | +1.69 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.08 | +0.33 |
Calmar ratioReturn relative to maximum drawdown | 2.04 | 0.66 | +1.38 |
Martin ratioReturn relative to average drawdown | 8.38 | 1.48 | +6.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FPEI | PGF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 0.40 | +1.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | -0.04 | +0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.15 | +0.40 |
Correlation
The correlation between FPEI and PGF is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
FPEI vs. PGF - Dividend Comparison
FPEI's dividend yield for the trailing twelve months is around 5.75%, less than PGF's 6.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPEI First Trust Institutional Preferred Securities & Income ETF | 5.75% | 5.62% | 5.55% | 5.76% | 5.20% | 4.46% | 4.90% | 5.02% | 5.81% | 1.50% | 0.00% | 0.00% |
PGF Invesco Financial Preferred ETF | 6.35% | 6.30% | 6.24% | 6.15% | 5.95% | 4.68% | 4.91% | 5.14% | 5.73% | 5.32% | 5.92% | 5.68% |
Drawdowns
FPEI vs. PGF - Drawdown Comparison
The maximum FPEI drawdown since its inception was -27.51%, smaller than the maximum PGF drawdown of -75.69%. Use the drawdown chart below to compare losses from any high point for FPEI and PGF.
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Drawdown Indicators
| FPEI | PGF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.51% | -75.69% | +48.18% |
Max Drawdown (1Y)Largest decline over 1 year | -3.90% | -4.69% | +0.79% |
Max Drawdown (5Y)Largest decline over 5 years | -16.46% | -23.41% | +6.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.92% | — |
Current DrawdownCurrent decline from peak | -1.98% | -5.71% | +3.73% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -7.03% | +3.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.09% | -1.14% |
Volatility
FPEI vs. PGF - Volatility Comparison
The current volatility for First Trust Institutional Preferred Securities & Income ETF (FPEI) is 2.19%, while Invesco Financial Preferred ETF (PGF) has a volatility of 2.33%. This indicates that FPEI experiences smaller price fluctuations and is considered to be less risky than PGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPEI | PGF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 2.33% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 4.41% | -1.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.55% | 7.69% | -3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 11.35% | -5.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.92% | 11.99% | -3.07% |