EVPF vs GPRF

EVPFBEaton Vance Preferred Securities and Income ETF

GPRFBGoldman Sachs Access U.S. Preferred Stock and Hybrid Securities 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.

GPRF Goldman's 2024 entry into preferred stock: roughly 400 U.S. preferreds and hybrids, the slice of the market that sits between bonds and common shares, bundled at 0.45% a year and paid out monthly.

Stated mandate

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

GPRF Invests primarily in U.S. preferred stocks and hybrid 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.

• GPRF At 0.45% a year it sits at the cheap end of the preferred aisle, matching State Street's PSK and running well under actively run options like FPE at 0.83%.
• Roughly 400 positions spread the credit exposure across many issuers rather than a handful of big deals, and the portfolio build is a strength versus preferred-fund peers.
• Income lands monthly, not quarterly, which is the cadence most preferred-stock buyers are actually after.
• A rules-based index basket of U.S. preferreds and hybrids: one ticket instead of hunting individual bank and utility issues on a thin over-the-counter desk.gsam.com

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

• GPRF Still a small fund and lightly traded next to the category's giants, so spreads can be wider and limit orders matter more, especially around the open and close.
• Launched in 2024, so it carries a shorter live record than the decade-plus incumbents in preferreds.
• Preferreds are treated as fixed income here: prices move on interest rates and issuer credit, so this is an income sleeve rather than an equity growth holding.

Full EVPF profile⁠

Full GPRF profile⁠