FPEIX vs. VARBX
Compare and contrast key facts about First Trust Preferred Securities and Income Fund (FPEIX) and Vivaldi Merger Arbitrage Fund Class I (VARBX).
FPEIX is managed by First Trust. It was launched on Jan 10, 2011. VARBX is managed by First Trust. It was launched on Oct 1, 2015.
Performance
FPEIX vs. VARBX - Performance Comparison
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FPEIX vs. VARBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPEIX First Trust Preferred Securities and Income Fund | -2.48% | 9.48% | 10.99% | 5.32% | -11.60% | 4.85% | 6.01% | 16.93% | -4.31% | 11.57% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 0.76% | 6.06% | 12.64% | 3.30% | 2.38% | 5.42% | 4.00% | 4.28% | 4.11% | 2.39% |
Returns By Period
In the year-to-date period, FPEIX achieves a -2.48% return, which is significantly lower than VARBX's 0.76% return. Over the past 10 years, FPEIX has outperformed VARBX with an annualized return of 4.99%, while VARBX has yielded a comparatively lower 4.44% annualized return.
FPEIX
- 1D
- -0.05%
- 1M
- -3.53%
- YTD
- -2.48%
- 6M
- -0.57%
- 1Y
- 5.97%
- 3Y*
- 9.41%
- 5Y*
- 2.84%
- 10Y*
- 4.99%
VARBX
- 1D
- 0.00%
- 1M
- 0.38%
- YTD
- 0.76%
- 6M
- 2.21%
- 1Y
- 5.36%
- 3Y*
- 7.33%
- 5Y*
- 5.43%
- 10Y*
- 4.44%
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FPEIX vs. VARBX - Expense Ratio Comparison
FPEIX has a 1.00% expense ratio, which is lower than VARBX's 1.81% expense ratio.
Return for Risk
FPEIX vs. VARBX — Risk / Return Rank
FPEIX
VARBX
FPEIX vs. VARBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Preferred Securities and Income Fund (FPEIX) and Vivaldi Merger Arbitrage Fund Class I (VARBX). 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.
| FPEIX | VARBX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.74 | 4.06 | -2.32 |
Sortino ratioReturn per unit of downside risk | 2.24 | 6.90 | -4.66 |
Omega ratioGain probability vs. loss probability | 1.42 | 2.36 | -0.94 |
Calmar ratioReturn relative to maximum drawdown | 1.65 | 8.40 | -6.75 |
Martin ratioReturn relative to average drawdown | 6.10 | 36.29 | -30.19 |
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
| FPEIX | VARBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.74 | 4.06 | -2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 1.65 | -1.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 1.33 | -0.56 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 1.40 | -0.58 |
Correlation
The correlation between FPEIX and VARBX is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FPEIX vs. VARBX - Dividend Comparison
FPEIX's dividend yield for the trailing twelve months is around 4.64%, less than VARBX's 5.99% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPEIX First Trust Preferred Securities and Income Fund | 4.64% | 5.40% | 5.60% | 5.17% | 5.30% | 4.70% | 4.88% | 5.36% | 5.93% | 5.36% | 5.66% | 5.56% |
VARBX Vivaldi Merger Arbitrage Fund Class I | 5.99% | 6.04% | 12.59% | 4.07% | 0.75% | 8.42% | 0.81% | 5.54% | 2.15% | 1.70% | 0.06% | 0.04% |
Drawdowns
FPEIX vs. VARBX - Drawdown Comparison
The maximum FPEIX drawdown since its inception was -27.83%, which is greater than VARBX's maximum drawdown of -5.12%. Use the drawdown chart below to compare losses from any high point for FPEIX and VARBX.
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Drawdown Indicators
| FPEIX | VARBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.83% | -5.12% | -22.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.62% | -0.64% | -2.98% |
Max Drawdown (5Y)Largest decline over 5 years | -19.66% | -1.79% | -17.87% |
Max Drawdown (10Y)Largest decline over 10 years | -27.83% | -5.12% | -22.71% |
Current DrawdownCurrent decline from peak | -3.62% | 0.00% | -3.62% |
Average DrawdownAverage peak-to-trough decline | -2.88% | -0.57% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.15% | +0.83% |
Volatility
FPEIX vs. VARBX - Volatility Comparison
First Trust Preferred Securities and Income Fund (FPEIX) has a higher volatility of 1.28% compared to Vivaldi Merger Arbitrage Fund Class I (VARBX) at 0.32%. This indicates that FPEIX's price experiences larger fluctuations and is considered to be riskier than VARBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPEIX | VARBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 0.32% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 2.26% | 0.73% | +1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 1.35% | +2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.22% | 3.31% | +1.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.52% | 3.35% | +3.17% |