EVPF vs PQDI

EVPFBEaton Vance Preferred Securities and Income ETF

PQDICPrincipal Spectrum Preferred 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.

PQDI Preferred stock with a tax angle. PQDI actively picks global dollar-denominated preferred and capital securities screened toward payouts eligible for the lower qualified-dividend rate rather than ordinary-income treatment.

Stated mandate

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

PQDI The Fund seeks to provide current income.

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.

• PQDI Built around the tax code: the mandate targets preferred and capital securities whose dividends are eligible for qualified-dividend treatment, a screen most preferred funds skip.principalam.combloomberg.com
• Active, not an index sleeve. Principal's Spectrum preferred team picks roughly 100 positions from across the global US dollar preferred and capital securities market.principalam.com
• Income shows up monthly, and the objective is stated plainly in the prospectus: current income, full stop.

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

• PQDI At 0.60% a year, it runs above the median fee in its financials peer group and many times what index giants like XLF and VFH charge.
• Smaller fund, light trading. Spreads can be wider than on the household-name financial-sector ETFs, which matters most on larger orders.
• Preferred issuers cluster in banks and insurers, so this leans on financial-sector credit, and the tax-treatment edge only registers in taxable accounts.bloomberg.com

Full EVPF profile⁠

Full PQDI profile⁠