Deep Dive
Financials drop 2.4% after the Fed's first hike since 2023 and a Bank of America fee warning
Fidelity Preferred Securities & Income ETF
$20.50+0.06 (+0.29%)
- 0.59%
- $76M
- −1.9%
- 5.65%
- 0M sh
- $20.45
- low $20.35high $22.23
The ETF.net FPFD Grade
C
Score 51 out of 100
- 18 of 31
Score 51 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.D32 out of 100Rank 21 of 31Mission
Whether the fund did what it promised, tested against its stated mandate.A75 out of 100Rank 9 of 26Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B59 out of 100Rank 14 of 31Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C46 out of 100Rank 17 of 31Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B55 out of 100Rank 16 of 29Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C51 out of 100Rank 19 of 31
Our read on FPFD
CMost funds in this dividend crowd buy common stock. FPFD climbs a rung up the capital stack, actively picking preferred securities, heavily bank and insurer paper, and paying out monthly.
The ETF seeks high total return through current income and capital appreciation.
Why people hold it
- Owns preferred securities rather than common shares, aiming for high total return from current income plus capital appreciation, with distributions paid monthly.institutional.fidelity.com
- Actively managed by Fidelity with no index to shadow, so the team can shift between issues and issuers as the preferred market moves.
- Spread across roughly 200 preferred issues, so no single security carries the fund.
- Trading since 2021 and sitting in the upper half of its income-focused peer group on our review.
Worth knowing
- The 0.59% expense ratio runs above the middle of its peer group, where plain dividend-equity funds such as CGDV (0.33%) charge less.
- Preferreds concentrate in financials and act like long-dated bonds, so bank sector stress and interest-rate swings both land here.
- Shares trade lightly, so bid-ask spreads can be wider than on the largest preferred funds.
FPFD Holdings
- Bonds
- 331
- 19%
- Energy Tran Lp 6.625%/VAR Perp
Sectors
- Financials55.9%
- Utilities19.8%
- Communication12.1%
- Technology5.7%
- Real Estate5.3%
- Consumer Discretionary0.7%
- Energy0.6%
Geography
- United States83.46%
- Canada6.21%
- Japan4.10%
- United Kingdom2.96%
- France1.65%
- Germany0.67%
- Bermuda0.59%
- Ireland0.20%
- 0.16%
FPFD Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
FPFD$9,810
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FPFD |
|---|---|
| Year to date | −2.4% |
| 1 month | −2.0% |
| 3 months | −3.2% |
| 1 year | −1.9% |
| 3 years | +6.9% |
| 5 years | +0.8% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FPFD |
|---|---|---|
| 2026 YTD | −2.4% | |
| 2025 | +6.5% | |
| 2024 | +8.5% | |
| 2023 | +10.9% | |
| 2022 | −17.1% | |
| 2021 | +1.9% |
FPFD in the news
FPFD Dividends
- 5.65%
- $1.15
- $0.12 per share
- Monthly
Distribution history
FPFD Risk
- 5.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.30
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −20.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.76
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FPFD Cost
0.59%
FPFD0.59%
- The middle half of Preferred Securities funds
- Median 0.50%
20 of the 31 Preferred Securities funds charge less.
Other funds in Preferred Securities
- CNPFINuveen Preferred and IncomeExpense ratio 0.56%1 year return +2.0%
- CFPEIFirst Trust Institutional Preferred Securities & Income ETFExpense ratio 0.85%1 year return +1.9%
- CCSPFCohen & Steers Preferred and Income Opportunities Active ETFExpense ratio 0.59%1 year return +2.6%
- CEPRFInnovator S&P Inv. Grade Preferred ETFExpense ratio 0.47%1 year return −8.2%
- CPQDIPrincipal Spectrum Preferred and Income ETFExpense ratio 0.60%1 year return +1.2%