PFXF vs. FPEI
PFXF (VanEck Vectors Preferred Securities ex Financials ETF) and FPEI (First Trust Institutional Preferred Securities & Income ETF) are both Preferred Stock/Convertible Bonds funds. PFXF is passively managed, while FPEI is actively managed. Over the past 5 years, PFXF returned 3.82%/yr vs 4.18%/yr for FPEI. At a 0.45 correlation, their price movements are largely independent. PFXF charges 0.41%/yr vs 0.85%/yr for FPEI.
Performance
PFXF vs. FPEI - Performance Comparison
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Returns By Period
In the year-to-date period, PFXF achieves a 5.59% return, which is significantly higher than FPEI's 1.93% return.
PFXF
- 1D
- -1.30%
- 1M
- -0.84%
- YTD
- 5.59%
- 6M
- 4.73%
- 1Y
- 15.75%
- 3Y*
- 9.53%
- 5Y*
- 3.82%
- 10Y*
- 5.15%
FPEI
- 1D
- -0.08%
- 1M
- 0.78%
- YTD
- 1.93%
- 6M
- 2.08%
- 1Y
- 7.95%
- 3Y*
- 11.02%
- 5Y*
- 4.18%
- 10Y*
- —
PFXF vs. FPEI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PFXF VanEck Vectors Preferred Securities ex Financials ETF | 5.59% | 9.64% | 8.42% | 11.20% | -18.83% | 11.61% | 7.61% | 20.52% | -4.17% | 0.55% |
FPEI First Trust Institutional Preferred Securities & Income ETF | 1.93% | 9.82% | 10.94% | 6.29% | -8.19% | 4.63% | 7.08% | 15.86% | -4.29% | 2.07% |
Correlation
The correlation between PFXF and FPEI is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2017 | 0.45 |
The correlation between PFXF and FPEI has been stable across timeframes, ranging from 0.45 to 0.55 - a consistent structural relationship.
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Return for Risk
PFXF vs. FPEI — Risk / Return Rank
PFXF
FPEI
PFXF vs. FPEI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Preferred Securities ex Financials ETF (PFXF) 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.
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.
| PFXF | FPEI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.48 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 2.20 | +0.51 |
| Martin ratioReturn relative to average drawdown | 9.05 | 10.94 | -1.88 |
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Drawdowns
PFXF vs. FPEI - Drawdown Comparison
The maximum PFXF drawdown since its inception was -35.49%, which is greater than FPEI's maximum drawdown of -27.51%. Use the drawdown chart below to compare losses from any high point for PFXF and FPEI.
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Drawdown Indicators
| PFXF | FPEI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.49% | -27.51% | -7.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.83% | -3.63% | -2.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.90% | -4.26% | -7.64% |
Max Drawdown (5Y)Largest decline over 5 years | -21.80% | -16.46% | -5.34% |
Max Drawdown (10Y)Largest decline over 10 years | -35.49% | — | — |
Current DrawdownCurrent decline from peak | -3.64% | -0.10% | -3.54% |
Average DrawdownAverage peak-to-trough decline | -3.90% | -3.04% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 0.73% | +1.01% |
Volatility
PFXF vs. FPEI - Volatility Comparison
VanEck Vectors Preferred Securities ex Financials ETF (PFXF) has a higher volatility of 3.70% compared to First Trust Institutional Preferred Securities & Income ETF (FPEI) at 0.82%. This indicates that PFXF's price experiences larger fluctuations and is considered to be riskier than FPEI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PFXF | FPEI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.70% | 0.82% | +2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 7.35% | 3.10% | +4.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.43% | 3.74% | +5.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.00% | 5.97% | +5.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.25% | 8.83% | +4.42% |
PFXF vs. FPEI - Expense Ratio Comparison
PFXF has a 0.41% expense ratio, which is lower than FPEI's 0.85% expense ratio.
Dividends
PFXF vs. FPEI - Dividend Comparison
PFXF's dividend yield for the trailing twelve months is around 6.25%, more than FPEI's 5.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPEI First Trust Institutional Preferred Securities & Income ETF | 5.70% | 5.62% | 5.55% | 5.76% | 5.20% | 4.46% | 4.90% | 5.02% | 5.81% | 1.50% | 0.00% | 0.00% |
PFXF VanEck Vectors Preferred Securities ex Financials ETF | 6.25% | 6.72% | 7.82% | 7.88% | 6.74% | 4.66% | 5.19% | 5.35% | 6.56% | 5.93% | 5.81% | 5.99% |
Frequently Asked Questions
PFXF and FPEI have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFXF has higher volatility (3.70%) compared to FPEI (0.82%). In terms of maximum drawdown, PFXF dropped -35.49% vs FPEI's -27.51%.
On 5-year performance, FPEI leads with 4.18% vs 3.82% for PFXF. On fees, PFXF is cheaper at 0.41% per year. On volatility, FPEI has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FPEI has performed better with a 4.18% return vs 3.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFXF is cheaper with a 0.41% expense ratio, compared with 0.85% for FPEI.
PFXF has the higher dividend yield at 6.25%, compared with 5.70% for FPEI.
They also come from different issuers: VanEck and First Trust. Their fees differ too: 0.41% for PFXF and 0.85% for FPEI.
FPEI currently has the higher Sharpe Ratio (2.14 vs 1.68), 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.
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