EVPF vs FPE: Grades, Fees and Holdings Compared

Eaton Vance Preferred Securities and Income ETF

EVPFBNasdaq

First Trust Preferred Securities and Income ETF

FPEBNYSE Arca

Overlap

No data

Expense ratio

EVPF −0.44pt a year

EVPF0.39%FPE0.83%

Avg volume · 30D

FPE 89.9×the volume

EVPF15.5KFPE1.4M

EVPF vs FPE Performance

Jul 31, 2026 – Oct 30, 2026

−1.5%EVPF−3.1%FPE

Expense ratio: EVPF 0.39%, better; FPE 0.83%
Fund size: EVPF $54M; FPE $5.81B
1Y total return: EVPF No data; FPE −1.9%
Yield (12M): EVPF No data; FPE 6.38%
Holdings: EVPF 81; FPE 264
Avg volume (30D): EVPF 15.5K sh; FPE 1.4M sh, better
NAV per share: EVPF $48.13; FPE $17.01
52W range

ETF.net Grade

Pillar letters and Scores for EVPF, FPE, with each pillar’s weight
Pillar	EVPF	FPE
Cost30% weight	A90Higher	F10
Mission25% weight	Not scored	A90
Risk15% weight	B60Higher	B57
Tradability15% weight	B56	A82Higher
Holdings10% weight	C53	A77Higher
Durability5% weight	D34	A90Higher

Rank among Preferred Securities funds

How we build Categories ›

Same Category. EVPF and FPE are both graded against the same 31 Preferred Securities funds, so their Grades compare head to head.

Preferred Securities⁠

Category · 31 funds

See all 31 ›

EVPF ranks 3rd and FPE 10th of 31 funds in the Preferred Securities Category.

Rank 1APFFDGlobal X U.S. Preferred ETFScore 73
Rank 2APFFiShares Preferred and Income Securities ETFScore 71
Rank 3BEVPFEaton Vance Preferred Securities and Income ETFScore 68
Rank 4BPFFVGlobal X Variable Rate Preferred ETFScore 66
Rank 9BJHPIJohn Hancock Preferred Income ETFScore 62
Rank 10BFPEFirst Trust Preferred Securities and Income ETFScore 58
Rank 10BGPRFGoldman Sachs Access U.S. Preferred Stock and Hybrid Securities ETFScore 58

Our read on each fund

ETF.net Research

EVPFBEaton Vance Preferred Securities and Income ETF

FPEBFirst Trust Preferred Securities and Income ETF

In short

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.

FPE A preferred-securities fund that doesn't stop at preferreds: the mandate also reaches into corporate bonds, high yield and convertibles. Running since 2013, big, actively traded, and it pays monthly.

Stated mandate

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

FPE The fund seeks total return and current income. It normally invests at least 80% of net assets in preferred securities and income-producing debt securities, including corporate bonds, high-yield securities, and convertible securities.

Why people hold it

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.

FPE The 80% policy spans preferred securities and income-producing debt: corporate bonds, high-yield, convertibles. One ticker, several income markets instead of a single slice.
Live since 2013 and grown into a multi-billion-dollar fund that trades actively, real staying power in a niche corner of the bond market.
Monthly distributions from a portfolio of roughly 240 positions, and one of the stronger overall showings among the preferred funds we grade.

Worth knowing

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

FPE The fee is 0.83% a year, well above the typical preferred ETF, and cheaper shelf-mates exist (EVPF at 0.20%, PFFV at 0.25%).
That wide mandate cuts both ways: high-yield and convertible holdings carry credit risk a plain investment-grade preferred sleeve would not.

Full EVPF profile⁠

Full FPE profile⁠

EVPF vs FPE Holdings

How EVPF and FPE differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile88.6%
Asset classFixed Income100%

Sector

No Sector split for EVPF and FPE.

Country, concentration and asset class

Country by domicile

Country weights in EVPF and FPE, widest gap first
Country	More in EVPFMore in FPE	EVPF	FPE
Canada	EVPF +5.0 points	15.8%	10.8%
France	FPE +4.8 points	3.2%	8.0%
Sweden	EVPF +3.5 points	3.6%	0.1%
Finland	EVPF +2.2 points	2.4%	0.2%
United Kingdom	FPE +1.3 points	4.8%	6.1%
Bermuda	FPE +1.1 points	2.3%	3.4%
Mexico	FPE +1.1 points	0.0%	1.1%
Germany	FPE +0.9 points	0.8%	1.7%
Other countries (7)	FPE +1.6 points	67.1%	68.7%

Outside the US: EVPF 92% developed, 8% emerging. FPE 85% developed, 15% emerging.

Concentration

Weight in the 10 largest Holdings

EVPF25.5%
FPE15.0%

Securities held

EVPF78
FPE215

Asset class

EVPF: Fixed Income
FPE: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. EVPF holds 78 securities, FPE 215.

All 81 EVPF holdings⁠All 263 FPE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EVPF vs FPE Cost

Overpaying FPE vs EVPF

$7,961

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EVPF 0.39%
$7,898
FPE 0.83%
$15,859

Amount$10,000

Years30 years

Cost over time

EVPF 0.39%
FPE 0.83%
Overpaying

Year by year

Year	EVPF	FPE	Overpaying
10	$705	$1,474	$769
20	$2,725	$5,581	$2,856
30	$7,898	$15,859	$7,961

Expense ratio

0.39%EVPF, cheaper
0.83%FPE

EVPF0.39%FPE0.83%

0.23%2.11%

Middle half of Preferred Securities funds
Median 0.50%

EVPF 3rd cheapest of 31 funds

FPE 28th cheapest of 31 funds

EVPF vs FPE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EVPF No data; FPE 6.38%
Payout (12M): EVPF No data; FPE $1.08
Last payment: EVPF $0.28; FPE $0.08
Ex-dividend: EVPF Oct 30, 2026; FPE Oct 21, 2026
Paid on: EVPF Pays Nov 5, 2026; FPE Oct 30, 2026
Frequency: EVPF Monthly; FPE Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

EVPFMonthly · 8 paymentsAll EVPF payments⁠

FPEMonthly · 46 paymentsAll FPE payments⁠

EVPF vs FPE Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: EVPF No dataFPE 5.7%
Return per unit of riskSharpe ratio, 3 years: EVPF No dataFPE 0.80
Worst fallMax drawdown, 5 years: EVPF No dataFPE −19.4%
Market sensitivityBeta, 5 years: EVPF 0.21FPE 0.72; Market = 1

Popular comparisons

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