FPE vs PGX
First Trust Preferred Securities and Income ETF vs Invesco Preferred ETF
Which is better, FPE or PGX?
FPE has been ahead.
PGX has a lower expense ratio. FPE led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FPE | PGX |
|---|---|---|
| Expense Ratio | 0.85% | 0.50%Best |
| AUM | $5.9B | $3.6B |
| Dividend Yield | 6.14% | 6.85% |
| Holdings | 260 | 548 |
| YTD Return | -2.80%Best | -7.72% |
| 1Y Return | -1.60%Best | -7.87% |
| 3Y Return (annualized) | +8.61%Best | +4.58% |
| 5Y Return (annualized) | +1.89%Best | -2.36% |
| Volatility (annualized) | 8.4%Best | 9.6% |
| Max Drawdown | -34.8%Best | -35.3% |
| $10,000 over 5 years | $10,981Best | $8,874 |
| Fund Family | First Trust Portfolios (US) | Invesco (US) |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Preferred Stock | Preferred Stock |
| Inception | Feb 11, 2013 | Jan 31, 2008 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Feb 12, 2013 to Oct 14, 2026 (13.7 years).
FPE vs PGX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 13.7 years both funds cover.
FPE vs PGX Performance
First Trust Preferred Securities and Income ETF (FPE) is an ETF from First Trust Portfolios (US) and Invesco Preferred ETF (PGX) is an ETF from Invesco (US). Over the past year FPE returned -1.60% while PGX returned -7.87%. Year to date, FPE is down 2.80% versus a loss of 7.72% for PGX.
Over three years, FPE compounded at +8.61% per year against +4.58% for PGX; over five years the annualized figures are +1.89% and -2.36% respectively. Across the full 14-year window we track, FPE has the edge at +1.07% annualized vs -0.49%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PGX has been the more volatile fund, with annualized monthly volatility of 9.6% compared with 8.4% for FPE. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.8% for FPE and -35.3% for PGX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FPE charges 0.85% per year while PGX charges 0.50%. On a $10,000 position that is $85 vs $50 annually, a gap of $35 per year that compounds over a long holding period. On income, FPE currently yields 6.14% against 6.85% for PGX.
Holdings Overlap
We hold position weights for 39 holdings in FPE and 234 in PGX, totalling 8.5% and 89.9% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 19 positions appear in both.
19 positions in common, counted across the 39 positions we hold weights for in FPE and 234 in PGX, against full books of 260 and 548.
Top Shared Holdings
| Stock | Weight in FPE | Weight in PGX | Difference |
|---|---|---|---|
| BAC.PMBank Of America Pfd 'Kk' | 0.42% | 1.09% | 0.67% |
| TBBAt&t Inc | 0.30% | 1.03% | 0.73% |
| BAC.PR.NBank Of America Corporation, Series Ll, 5.000% | 0.05% | 0.96% | 0.91% |
| SOJDSouthern Company (The) | 0.19% | 0.74% | 0.55% |
| COFCapital One Financial Corp | 0.02% | 0.83% | 0.81% |
| SREASempra Energy Preferred Stock 07/79 5.75 | 0.25% | 0.59% | 0.34% |
| AHL.P.DAspen Insurance Holdings Limited 5.625% Perpetual Non-Cumulative Preference Shares D | 0.63% | 0.19% | 0.44% |
| TPGXLTpg Operating Group Ii Lp | 0.47% | 0.34% | 0.13% |
| CMSDCms Energy Corp Prefe Pfd | 0.26% | 0.53% | 0.27% |
| CGABLCarlyle Finance Llc | 0.38% | 0.31% | 0.07% |
You are not choosing between two funds in isolation.
Whichever of FPE and PGX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FPE or PGX?
FPE has an expense ratio of 0.85% while PGX charges 0.50%. PGX is the cheaper option, by $35 a year on a $10,000 investment.
Which performed better, FPE or PGX?
Over the past year FPE returned -1.60% vs -7.87% for PGX, so FPE leads on 1-year performance. Over the longest common window we track (14 years), FPE annualized +1.07% vs -0.49% for PGX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FPE or PGX?
PGX has been the more volatile fund at 9.6% annualized versus 8.4% for FPE. Worst drawdown: FPE -34.8% vs PGX -35.3%.
Should I hold both FPE and PGX?
FPE and PGX have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FPE or PGX?
FPE yields 6.14% while PGX yields 6.85%, so PGX currently pays the higher dividend yield.
Is PGX better than FPE?
PGX has a lower expense ratio. FPE led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.