IPPP vs. FCVT

Last updated Jun 4, 2026

IPPP (Preferred-Plus ETF) and FCVT (First Trust SSI Strategic Convertible Securities ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. IPPP charges 1.27%/yr vs 0.95%/yr for FCVT.

Performance

IPPP vs. FCVT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Preferred-Plus ETF (IPPP) and First Trust SSI Strategic Convertible Securities ETF (FCVT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IPPP

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FCVT

• 1D: -1.20%
• 1M: 7.08%
• YTD: 25.61%
• 6M: 25.00%
• 1Y: 47.07%
• 3Y*: 21.35%
• 5Y*: 7.58%
• 10Y*: 12.36%

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

IPPP vs. FCVT - Yearly Performance Comparison

	2026 (YTD)
IPPP Preferred-Plus ETF	0.00%
FCVT First Trust SSI Strategic Convertible Securities ETF	17.82%

IPPP vs. FCVT - Sectors Allocation Comparison

Sectors	IPPP	FCVT
Utilities	100.0%	1.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.7%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.7%
Healthcare	-	0.7%
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

IPPP vs. FCVT — Risk / Return Rank

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

FCVT

FCVT Risk / Return Rank: 87
FCVT Sharpe Ratio Rank: 88
FCVT Sortino Ratio Rank: 83
FCVT Omega Ratio Rank: 82
FCVT Calmar Ratio Rank: 90
FCVT Martin Ratio Rank: 90

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.

IPPP vs. FCVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Preferred-Plus ETF (IPPP) and First Trust SSI Strategic Convertible Securities ETF (FCVT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IPPP	FCVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.97	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.68	—

Drawdowns

IPPP vs. FCVT - Drawdown Comparison

The maximum IPPP drawdown since its inception was 0.00%, smaller than the maximum FCVT drawdown of -31.79%. Use the drawdown chart below to compare losses from any high point for IPPP and FCVT.

Drawdown Indicators

	IPPP	FCVT	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-31.79%	+31.79%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.47%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.06%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.79%	—
Current Drawdown Current decline from peak	0.00%	-1.20%	+1.20%
Average Drawdown Average peak-to-trough decline	0.00%	-10.36%	+10.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.26%	—

Volatility

Volatility by Period

	IPPP	FCVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.07%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.99%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	15.94%	-15.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	14.09%	-14.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	14.85%	-14.85%

IPPP vs. FCVT - Expense Ratio Comparison

IPPP has a 1.27% expense ratio, which is higher than FCVT's 0.95% expense ratio.

Dividends

IPPP vs. FCVT - Dividend Comparison

IPPP has not paid dividends to shareholders, while FCVT's dividend yield for the trailing twelve months is around 1.19%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCVT First Trust SSI Strategic Convertible Securities ETF	1.19%	1.98%	1.30%	1.76%	3.71%	23.07%	1.72%	1.60%	1.85%	2.18%	1.88%	0.59%
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, IPPP or FCVT?

On fees, FCVT is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IPPP or FCVT?

FCVT is cheaper with a 0.95% expense ratio, compared with 1.27% for IPPP.

Which ETF pays a higher dividend yield, IPPP or FCVT?

FCVT has the higher dividend yield at 1.19%, compared with 0.00% for IPPP.

What is the main difference between IPPP and FCVT?

They also come from different issuers: Innovative Portfolios and First Trust. Their fees differ too: 1.27% for IPPP and 0.95% for FCVT.