IPPP vs. FPFD

Last updated Jun 4, 2026

IPPP (Preferred-Plus ETF) and FPFD (Fidelity Preferred Securities & Income ETF) are both Preferred Stock/Convertible Bonds funds. Both are actively managed. IPPP charges 1.27%/yr vs 0.59%/yr for FPFD.

Performance

IPPP vs. FPFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Preferred-Plus ETF (IPPP) and Fidelity Preferred Securities & Income ETF (FPFD). 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*: —

FPFD

• 1D: -0.23%
• 1M: -0.51%
• YTD: 0.73%
• 6M: 0.81%
• 1Y: 6.27%
• 3Y*: 7.66%
• 5Y*: —
• 10Y*: —

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

IPPP vs. FPFD - Yearly Performance Comparison

	2026 (YTD)
IPPP Preferred-Plus ETF	0.00%
FPFD Fidelity Preferred Securities & Income ETF	-0.37%

IPPP vs. FPFD - Sectors Allocation Comparison

Sectors	IPPP	FPFD
Utilities	100.0%	5.4%
Basic Materials	-	-
Communication Services	-	3.5%
Consumer Cyclical	-	0.3%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	16.4%
Healthcare	-	-
Industrials	-	0.8%
Real Estate	-	1.6%
Technology	-	1.2%

Return for Risk

IPPP vs. FPFD — Risk / Return Rank

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

FPFD

FPFD Risk / Return Rank: 59
FPFD Sharpe Ratio Rank: 63
FPFD Sortino Ratio Rank: 68
FPFD Omega Ratio Rank: 69
FPFD Calmar Ratio Rank: 47
FPFD Martin Ratio Rank: 51

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. FPFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Preferred-Plus ETF (IPPP) and Fidelity Preferred Securities & Income ETF (FPFD). 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	FPFD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.33	—

Drawdowns

IPPP vs. FPFD - Drawdown Comparison

The maximum IPPP drawdown since its inception was 0.00%, smaller than the maximum FPFD drawdown of -20.83%. Use the drawdown chart below to compare losses from any high point for IPPP and FPFD.

Drawdown Indicators

	IPPP	FPFD	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-20.83%	+20.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.75%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.92%	—
Current Drawdown Current decline from peak	0.00%	-1.23%	+1.23%
Average Drawdown Average peak-to-trough decline	0.00%	-6.82%	+6.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.73%	—

Volatility

Volatility by Period

	IPPP	FPFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	2.95%	-2.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.00%	5.32%	-5.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.00%	5.32%	-5.32%

IPPP vs. FPFD - Expense Ratio Comparison

IPPP has a 1.27% expense ratio, which is higher than FPFD's 0.59% expense ratio.

Dividends

IPPP vs. FPFD - Dividend Comparison

IPPP has not paid dividends to shareholders, while FPFD's dividend yield for the trailing twelve months is around 5.15%.

Position	TTM	2025	2024	2023	2022	2021
FPFD Fidelity Preferred Securities & Income ETF	5.15%	5.04%	4.89%	5.09%	5.22%	1.59%
IPPP Preferred-Plus ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, IPPP or FPFD?

On fees, FPFD is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IPPP or FPFD?

FPFD is cheaper with a 0.59% expense ratio, compared with 1.27% for IPPP.

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

FPFD has the higher dividend yield at 5.15%, compared with 0.00% for IPPP.

What is the main difference between IPPP and FPFD?

They also come from different issuers: Innovative Portfolios and Fidelity. Their fees differ too: 1.27% for IPPP and 0.59% for FPFD.