EPRF vs EVPF

EPRFCInnovator S&P Inv. Grade Preferred ETF

EVPFBEaton Vance Preferred Securities and Income ETF

In short

EPRF Most preferred-stock ETFs hoover up the whole market. EPRF tracks an S&P index built only from investment-grade preferreds, holds a tight book of roughly 80 of them, and pays income monthly.

EVPF Eaton Vance's preferred-securities team, ETF-wrapped: an active, concentrated run at the preferred and hybrid market for 0.39% a year, under the category's median fee. Active stock-picking in a corner usually sold by the index.

Stated mandate

EPRF The Fund seeks current income through exposure to investment-grade preferred stocks.

EVPF The Fund seeks total return and current income, primarily through preferred securities and other income-producing securities.

Why people hold it

• EPRF The screen is the whole idea: it follows the S&P U.S. High Quality Preferred Stock Index, seeking current income from investment-grade preferreds rather than the full US preferred market.innovatoretfs.cominnovatoretfs.com 2
• Income arrives monthly, and with roughly 80 positions the portfolio is short enough to read line by line instead of taking on trust.
• Live since 2016, a long run for a specialty preferred strategy, and a plain index-tracking mandate with no derivatives layered on top.innovatoretfs.com

• EVPF Active in a category built on indexes: Eaton Vance's fundamental team picks across preferred and hybrid securities instead of owning whatever a benchmark lists.morganstanley.com
• At 0.39% a year, with no waiver propping it up, it undercuts index heavyweights PFF and PSK (0.45% each) and sits below the category median. Rare pricing for an active mandate.
• Income is the mandate, not a byproduct: total return plus current income from preferred securities, with distributions declared monthly under the prospectus.
• For a fund launched in 2026, the package lands in the upper tier of the roughly thirty US preferred ETFs on cost and mandate clarity.

Worth knowing

• EPRF It is a small, thinly traded fund. Expect wider bid-ask spreads than a mainstream index ETF, and size your orders knowing the screen is thin.
• At 0.47% a year, it runs a touch above the typical index-tracking fund, and giants like VT and SCHK charge a fraction of that (for stocks, not preferreds).
• Quality filtering narrows the pool: an investment-grade-only rule leaves out the lower-rated preferreds that broader funds in this corner hold.innovatoretfs.com

• EVPF Born March 2026, so there is no multi-cycle record of how the managers steer through a rate shock or a credit wobble.
• Smaller and thinner-traded than the category's index incumbents, so bid-ask spreads can run wider than in the biggest preferred funds.
• About 80 positions in preferred and hybrid securities, a rate- and credit-sensitive corner that ranks below bonds in the capital stack.sec.gov

Full EPRF profile⁠

Full EVPF profile⁠