PREF vs. FCVT
Compare and contrast key facts about Principal Spectrum Preferred Secs Active ETF (PREF) and First Trust SSI Strategic Convertible Securities ETF (FCVT).
PREF and FCVT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PREF is an actively managed fund by Principal. It was launched on Jul 10, 2017. FCVT is an actively managed fund by First Trust. It was launched on Nov 4, 2015.
Performance
PREF vs. FCVT - Performance Comparison
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PREF vs. FCVT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PREF Principal Spectrum Preferred Secs Active ETF | -0.46% | 7.64% | 11.43% | 7.36% | -11.80% | 2.08% | 7.52% | 17.32% | -5.45% | 2.05% |
FCVT First Trust SSI Strategic Convertible Securities ETF | 2.96% | 19.60% | 11.92% | 7.12% | -20.88% | 4.23% | 51.02% | 22.30% | -2.28% | 2.24% |
Returns By Period
In the year-to-date period, PREF achieves a -0.46% return, which is significantly lower than FCVT's 2.96% return.
PREF
- 1D
- 0.48%
- 1M
- -1.76%
- YTD
- -0.46%
- 6M
- 0.91%
- 1Y
- 5.77%
- 3Y*
- 8.59%
- 5Y*
- 3.06%
- 10Y*
- —
FCVT
- 1D
- 2.83%
- 1M
- -3.42%
- YTD
- 2.96%
- 6M
- 3.95%
- 1Y
- 28.88%
- 3Y*
- 13.46%
- 5Y*
- 3.16%
- 10Y*
- 10.49%
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PREF vs. FCVT - Expense Ratio Comparison
PREF has a 0.55% expense ratio, which is lower than FCVT's 0.95% expense ratio.
Return for Risk
PREF vs. FCVT — Risk / Return Rank
PREF
FCVT
PREF vs. FCVT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Spectrum Preferred Secs Active ETF (PREF) 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.
| PREF | FCVT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.69 | 1.81 | -0.12 |
Sortino ratioReturn per unit of downside risk | 2.22 | 2.38 | -0.16 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.32 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.95 | 3.37 | -1.42 |
Martin ratioReturn relative to average drawdown | 8.56 | 11.45 | -2.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PREF | FCVT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 1.81 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.23 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.57 | +0.06 |
Correlation
The correlation between PREF and FCVT is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
PREF vs. FCVT - Dividend Comparison
PREF's dividend yield for the trailing twelve months is around 5.01%, more than FCVT's 1.65% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PREF Principal Spectrum Preferred Secs Active ETF | 5.01% | 4.87% | 4.65% | 4.67% | 4.63% | 4.07% | 4.35% | 4.67% | 5.49% | 2.35% | 0.00% | 0.00% |
FCVT First Trust SSI Strategic Convertible Securities ETF | 1.65% | 1.98% | 1.30% | 1.76% | 3.71% | 23.07% | 1.72% | 1.60% | 1.85% | 2.18% | 1.88% | 0.59% |
Drawdowns
PREF vs. FCVT - Drawdown Comparison
The maximum PREF drawdown since its inception was -22.99%, smaller than the maximum FCVT drawdown of -31.79%. Use the drawdown chart below to compare losses from any high point for PREF and FCVT.
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Drawdown Indicators
| PREF | FCVT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.99% | -31.79% | +8.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -8.47% | +5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -16.99% | -30.43% | +13.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.79% | — |
Current DrawdownCurrent decline from peak | -1.96% | -5.88% | +3.92% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -10.52% | +6.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 2.49% | -1.83% |
Volatility
PREF vs. FCVT - Volatility Comparison
The current volatility for Principal Spectrum Preferred Secs Active ETF (PREF) is 1.73%, while First Trust SSI Strategic Convertible Securities ETF (FCVT) has a volatility of 7.16%. This indicates that PREF experiences smaller price fluctuations and is considered to be less risky than FCVT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PREF | FCVT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 7.16% | -5.43% |
Volatility (6M)Calculated over the trailing 6-month period | 2.49% | 12.93% | -10.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.44% | 16.06% | -12.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.84% | 13.94% | -9.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.35% | 16.94% | -10.59% |