FPEIX vs. PFINX

Last updated Jun 24, 2026

FPEIX (First Trust Preferred Securities and Income Fund) and PFINX (PIMCO Preferred and Capital Securities Fund) are both Preferred Stock/Convertible Bonds funds. Over the past 10 years, FPEIX returned 5.02%/yr vs 6.20%/yr for PFINX. A 0.73 correlation means they provide meaningful diversification when combined. FPEIX charges 1.00%/yr vs 0.79%/yr for PFINX.

Performance

FPEIX vs. PFINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Preferred Securities and Income Fund (FPEIX) and PIMCO Preferred and Capital Securities Fund (PFINX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPEIX achieves a -0.04% return, which is significantly lower than PFINX's 2.12% return. Over the past 10 years, FPEIX has underperformed PFINX with an annualized return of 5.02%, while PFINX has yielded a comparatively higher 6.20% annualized return.

FPEIX

• 1D: -0.15%
• 1M: 0.31%
• YTD: -0.04%
• 6M: 0.51%
• 1Y: 7.06%
• 3Y*: 9.92%
• 5Y*: 2.83%
• 10Y*: 5.02%

PFINX

• 1D: -0.10%
• 1M: 0.92%
• YTD: 2.12%
• 6M: 0.98%
• 1Y: 7.74%
• 3Y*: 10.53%
• 5Y*: 2.98%
• 10Y*: 6.20%

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

FPEIX vs. PFINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPEIX First Trust Preferred Securities and Income Fund	-0.04%	9.48%	10.99%	5.32%	-11.60%	4.85%	6.01%	16.93%	-4.31%	11.57%
PFINX PIMCO Preferred and Capital Securities Fund	2.12%	8.73%	10.84%	7.03%	-12.82%	4.61%	6.73%	20.78%	-4.17%	13.28%

Correlation

The correlation between FPEIX and PFINX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 14, 2015	0.73

The correlation between FPEIX and PFINX has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.

Return for Risk

FPEIX vs. PFINX — Risk / Return Rank

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

FPEIX

FPEIX Risk / Return Rank: 65
FPEIX Sharpe Ratio Rank: 78
FPEIX Sortino Ratio Rank: 87
FPEIX Omega Ratio Rank: 86
FPEIX Calmar Ratio Rank: 33
FPEIX Martin Ratio Rank: 39

PFINX

PFINX Risk / Return Rank: 72
PFINX Sharpe Ratio Rank: 80
PFINX Sortino Ratio Rank: 85
PFINX Omega Ratio Rank: 90
PFINX Calmar Ratio Rank: 49
PFINX 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.

FPEIX vs. PFINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Preferred Securities and Income Fund (FPEIX) and PIMCO Preferred and Capital Securities Fund (PFINX). 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.

	FPEIX	PFINX	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.42	-0.03
Sortino ratio: Return per unit of downside risk	3.88	3.75	+0.13
Omega ratio: Gain probability vs. loss probability	1.55	1.62	-0.07
Calmar ratio: Return relative to maximum drawdown	2.08	2.57	-0.49
Martin ratio: Return relative to average drawdown	8.04	10.31	-2.26

FPEIX vs. PFINX - Sharpe Ratio Comparison

The current FPEIX Sharpe Ratio is 2.40, which is comparable to the PFINX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of FPEIX and PFINX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FPEIX vs. PFINX - Drawdown Comparison

The maximum FPEIX drawdown since its inception was -27.83%, which is greater than PFINX's maximum drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for FPEIX and PFINX.

Drawdown Indicators

	FPEIX	PFINX	Difference
Max Drawdown Largest peak-to-trough decline	-27.83%	-23.93%	-3.90%
Max Drawdown (1Y) Largest decline over 1 year	-3.62%	-3.09%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-4.11%	-3.93%	-0.18%
Max Drawdown (5Y) Largest decline over 5 years	-19.66%	-22.11%	+2.45%
Max Drawdown (10Y) Largest decline over 10 years	-27.83%	-23.93%	-3.90%
Current Drawdown Current decline from peak	-1.21%	-0.21%	-1.00%
Average Drawdown Average peak-to-trough decline	-2.86%	-3.44%	+0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.77%	+0.14%

Volatility

FPEIX vs. PFINX - Volatility Comparison

First Trust Preferred Securities and Income Fund (FPEIX) has a higher volatility of 0.74% compared to PIMCO Preferred and Capital Securities Fund (PFINX) at 0.66%. This indicates that FPEIX's price experiences larger fluctuations and is considered to be riskier than PFINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPEIX	PFINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	0.66%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.44%	2.60%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.15%	3.27%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.26%	5.53%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.54%	6.12%	+0.42%

FPEIX vs. PFINX - Expense Ratio Comparison

FPEIX has a 1.00% expense ratio, which is higher than PFINX's 0.79% expense ratio.

Dividends

FPEIX vs. PFINX - Dividend Comparison

FPEIX's dividend yield for the trailing twelve months is around 5.04%, more than PFINX's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPEIX First Trust Preferred Securities and Income Fund	5.04%	5.40%	5.60%	5.17%	5.30%	4.70%	4.88%	5.36%	5.93%	5.36%	5.66%	5.56%
PFINX PIMCO Preferred and Capital Securities Fund	3.88%	3.74%	5.30%	6.26%	8.54%	5.79%	3.06%	6.40%	6.43%	7.08%	6.19%	2.34%

Frequently Asked Questions

Can I hold both FPEIX and PFINX in my portfolio?

FPEIX and PFINX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPEIX or PFINX?

FPEIX has higher volatility (0.74%) compared to PFINX (0.66%). In terms of maximum drawdown, FPEIX dropped -27.83% vs PFINX's -23.93%.

Which has better risk-adjusted returns?

PFINX currently has the higher Sharpe Ratio (2.42 vs 2.40), 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.