IPPP vs. FPEI

Last updated Apr 1, 2026

Compare and contrast key facts about Preferred-Plus ETF (IPPP) and First Trust Institutional Preferred Securities & Income ETF (FPEI).

IPPP and FPEI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IPPP is an actively managed fund by Innovative Portfolios. It was launched on Dec 24, 2018. FPEI is an actively managed fund by First Trust. It was launched on Aug 22, 2017.

Performance

IPPP vs. FPEI - Performance Comparison

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

IPPP vs. FPEI - Yearly Performance Comparison

	2026 (YTD)
IPPP Preferred-Plus ETF	0.00%
FPEI First Trust Institutional Preferred Securities & Income ETF	-1.56%

Returns By Period

IPPP

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

FPEI

• 1D: 1.04%
• 1M: -1.99%
• YTD: -0.64%
• 6M: 1.11%
• 1Y: 7.60%
• 3Y*: 10.49%
• 5Y*: 4.17%
• 10Y*: —

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

IPPP vs. FPEI - Expense Ratio Comparison

IPPP has a 1.27% expense ratio, which is higher than FPEI's 0.85% expense ratio.

IPPP

Preferred-Plus ETF

FPEI

First Trust Institutional Preferred Securities & Income ETF

Return for Risk

IPPP vs. FPEI — Risk / Return Rank

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

FPEI

FPEI Risk / Return Rank: 83
FPEI Sharpe Ratio Rank: 85
FPEI Sortino Ratio Rank: 85
FPEI Omega Ratio Rank: 91
FPEI Calmar Ratio Rank: 77
FPEI Martin Ratio Rank: 79

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. FPEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Preferred-Plus ETF (IPPP) and First Trust Institutional Preferred Securities & Income ETF (FPEI). 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	FPEI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.68	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.54	—

Dividends

IPPP vs. FPEI - Dividend Comparison

IPPP has not paid dividends to shareholders, while FPEI's dividend yield for the trailing twelve months is around 5.77%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FPEI First Trust Institutional Preferred Securities & Income ETF	5.77%	5.62%	5.55%	5.76%	5.20%	4.46%	4.90%	5.02%	5.81%	1.50%

Drawdowns

IPPP vs. FPEI - Drawdown Comparison

The maximum IPPP drawdown since its inception was 0.00%, smaller than the maximum FPEI drawdown of -27.51%. Use the drawdown chart below to compare losses from any high point for IPPP and FPEI.

Drawdown Indicators

	IPPP	FPEI	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-27.51%	+27.51%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.46%	—
Current Drawdown Current decline from peak	0.00%	-2.29%	+2.29%
Average Drawdown Average peak-to-trough decline	0.00%	-3.10%	+3.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.94%	—

Volatility

Volatility by Period

	IPPP	FPEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.91%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	4.55%	-4.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	5.93%	-5.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	8.93%	-8.93%