GPRF vs. FPE

Last updated Aug 2, 2026

GPRF (Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF) and FPE (First Trust Preferred Securities & Income ETF) are both Preferred Stock funds. GPRF is passively managed, while FPE is actively managed. Over the past year, GPRF returned 3.56% vs 5.35% for FPE. Their 0.64 correlation means they have sometimes moved together and sometimes differently. GPRF charges 0.45%/yr vs 0.85%/yr for FPE.

Performance

GPRF vs. FPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) and First Trust Preferred Securities & Income ETF (FPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GPRF achieves a 0.94% return, which is significantly higher than FPE's 0.79% return.

GPRF

• 1D: 0.02%
• 1M: -0.69%
• 6M: -0.24%
• YTD: 0.94%
• 1Y: 3.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.81%

FPE

• 1D: 0.11%
• 1M: -0.55%
• 6M: -0.02%
• YTD: 0.79%
• 1Y: 5.35%
• 3Y*: 9.22%
• 5Y*: 2.72%
• 10Y*: 4.71%
• ALL TIME*: 4.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FPE First Trust Preferred Securities & Income ETF	$16.81M	$16.95M	$17.82M
GPRF Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF	$158.04K	$1.42M	$824.22K

GPRF vs. FPE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GPRF Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF	0.94%	6.17%	2.49%
FPE First Trust Preferred Securities & Income ETF	0.79%	9.21%	3.25%

Correlation

The correlation between GPRF and FPE is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.58
Correlation (All Time) Calculated using the full available price history since Aug 1, 2024	0.64

The correlation between GPRF and FPE has been stable across timeframes, ranging from 0.58 to 0.64 - a consistent structural relationship.

Return for Risk

GPRF vs. FPE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GPRF

GPRF Risk / Return Rank: 37
GPRF Sharpe Ratio Rank: 40
GPRF Sortino Ratio Rank: 37
GPRF Omega Ratio Rank: 44
GPRF Calmar Ratio Rank: 27
GPRF Martin Ratio Rank: 38

FPE

FPE Risk / Return Rank: 51
FPE Sharpe Ratio Rank: 55
FPE Sortino Ratio Rank: 53
FPE Omega Ratio Rank: 62
FPE Calmar Ratio Rank: 37
FPE Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GPRF vs. FPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) and First Trust Preferred Securities & Income ETF (FPE). 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.

	GPRF	FPE	Difference
Sharpe ratio: Return per unit of total volatility	1.01	1.31	-0.30
Sortino ratio: Return per unit of downside risk	1.41	1.86	-0.45
Omega ratio: Gain probability vs. loss probability	1.21	1.26	-0.06
Calmar ratio: Return relative to maximum drawdown	0.88	1.26	-0.38
Martin ratio: Return relative to average drawdown	3.96	5.33	-1.38

GPRF vs. FPE - Sharpe Ratio Comparison

The current GPRF Sharpe Ratio is 1.01, which is comparable to the FPE Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of GPRF and FPE, 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

GPRF vs. FPE - Drawdown Comparison

The maximum GPRF drawdown since its inception was -4.36%, smaller than the maximum FPE drawdown of -33.35%. Use the drawdown chart below to compare losses from any high point for GPRF and FPE.

Drawdown Indicators

	GPRF	FPE	Difference
Max Drawdown Largest peak-to-trough decline	-4.36%	-33.35%	+28.99%
Max Drawdown (1Y) Largest decline over 1 year	-4.20%	-4.08%	-0.12%
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	-1.16%	-1.01%	-0.15%
Average Drawdown Average peak-to-trough decline	-0.88%	-3.30%	+2.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.96%	-0.03%

Volatility

GPRF vs. FPE - Volatility Comparison

Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF (GPRF) and First Trust Preferred Securities & Income ETF (FPE) have volatilities of 0.82% and 0.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GPRF	FPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	0.86%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.12%	3.17%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	3.66%	3.92%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.85%	6.63%	-2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.85%	10.17%	-6.32%

GPRF vs. FPE - Expense Ratio Comparison

GPRF has a 0.45% expense ratio, which is lower than FPE's 0.85% expense ratio.

Dividends

GPRF vs. FPE - Dividend Comparison

GPRF's dividend yield for the trailing twelve months is around 5.66%, less than FPE's 6.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPE First Trust Preferred Securities & Income ETF	6.01%	5.81%	5.68%	6.03%	5.67%	4.48%	4.88%	5.32%	6.14%	5.39%	5.97%	5.49%
GPRF Goldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETF	5.23%	5.38%	2.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GPRF and FPE in my portfolio?

GPRF and FPE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GPRF or FPE?

FPE has higher volatility (0.86%) compared to GPRF (0.82%). In terms of maximum drawdown, GPRF dropped -4.36% vs FPE's -33.35%.

Which ETF is better, GPRF or FPE?

On 1-year performance, FPE leads with 5.35% vs 3.56% for GPRF. On fees, GPRF is cheaper at 0.45% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GPRF or FPE?

Over the 1-year period, FPE has performed better with a 5.35% return vs 3.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GPRF or FPE?

GPRF is cheaper with a 0.45% expense ratio, compared with 0.85% for FPE.

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

FPE has the higher dividend yield at 6.01%, compared with 5.23% for GPRF.

What is the main difference between GPRF and FPE?

They also come from different issuers: Goldman Sachs and First Trust. Their fees differ too: 0.45% for GPRF and 0.85% for FPE.

Which has better risk-adjusted returns?

FPE currently has the higher Sharpe Ratio (1.31 vs 1.01), 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.