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Trending ETFs

First Trust Preferred Securities and Income Fund

mutual fund
FPEIX
Payout Change
Pending
Price as of:
$20.05 +0.02 +0.1%
primary theme
Preferred Stock
FPEIX (Mutual Fund)

First Trust Preferred Securities and Income Fund

Payout Change
Pending
Price as of:
$20.05 +0.02 +0.1%
primary theme
Preferred Stock
FPEIX (Mutual Fund)

First Trust Preferred Securities and Income Fund

Payout Change
Pending
Price as of:
$20.05 +0.02 +0.1%
primary theme
Preferred Stock

Name

As of 12/03/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$20.05

$238 M

5.54%

$1.11

1.08%

Vitals

YTD Return

12.2%

1 yr return

15.2%

3 Yr Avg Return

1.7%

5 Yr Avg Return

3.3%

Net Assets

$238 M

Holdings in Top 10

19.2%

52 WEEK LOW AND HIGH

$20.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.08%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 38.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/03/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$20.05

$238 M

5.54%

$1.11

1.08%

FPEIX - Profile

Distributions

  • YTD Total Return 12.2%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 3.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.51%
DIVIDENDS
  • Dividend Yield 5.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust Preferred Securities and Income Fund
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    Jan 11, 2011
  • Shares Outstanding
    N/A
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Scott Fleming

Fund Description

The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets (including investment borrowings) in preferred securities and other securities with similar economic characteristics. Securities that have economic characteristics that are similar to preferred securities include certain debt instruments. Such debt instruments are typically issued by corporations, generally in the form of interest bearing notes, or by an affiliated business trust of a corporation, generally in the form of (i) beneficial interests in subordinated debentures or similarly structured securities or (ii) more senior debt securities that pay income and trade in a manner similar to preferred securities. The Fund may also invest in more traditional corporate debt securities and U.S. government securities.Preferred securities generally pay fixed or adjustable-rate distributions to investors and have preference over common stock in the payment of distributions and the liquidation of a company’s assets, but are generally junior to all forms of the company’s debt, including both senior and subordinated debt; therefore, the risks and potential rewards of investing in the Fund may at times be similar to the risks and potential rewards of investing in both equity funds and bond funds. Because the issuers of preferred securities are often financial companies, the Fund intends to concentrate (invest at least 25% of its net assets) in the industry or group of industries that comprise the financial sector, which may include banks, thrifts, brokerage firms, broker-dealers, investment banks, finance companies, real estate investment trusts (“REITs”) and companies involved in the insurance industry. The Fund may invest in companies with small-, mid-and large-capitalizations. As of January 31, 2024, the Fund had significant investments in financial companies and European issuers, although this may change from time to time.To the extent the Fund invests a significant portion of its assets in a given jurisdiction or investment sector, the Fund may be exposed to the risks associated with that jurisdiction or investment sector.Under normal market conditions, the Fund invests at least 60% of its net assets in securities rated investment grade (BBB–/Baa3 or higher) at the time of purchase by at least one independent rating agency, such as Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies, Inc., Moody’s Investors Service, Inc., or another nationally recognized statistical rating organization, and unrated securities judged to be of comparable quality by the Fund’s sub-advisor. The Fund may invest up to 40% of its net assets in securities rated below investment grade (BB+/Ba1 or lower) at the time of purchase, which are commonly referred to as “high yield” securities or “junk bonds.” For securities with a split rating, the highest available rating will be used. In addition, at the time of purchase, at least 80% of the Fund’s net assets are issued by issuers that have long-term issuer credit ratings of investment grade by at least one independent rating agency or judged to be of comparable quality by the Fund’s sub-advisor, if any issuer is unrated. The Fund may invest in securities of any duration or maturity.Under normal market conditions, the Fund may invest up to 15% of its net assets in cash and/or cash equivalents. The Fund may invest in securities issued by companies domiciled in the United States, U.S. dollar-denominated depositary receipts, U.S. dollar-denominated foreign securities and non-U.S. dollar-denominated securities. The Fund may invest in Rule 144A Securities, which are generally subject to resale restrictions and may be illiquid. The Fund may also invest in contingent convertible securities, fixed-to-floating rate securities, floating rate securities and hybrid capital securities.
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FPEIX - Performance

Return Ranking - Trailing

Period FPEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.2% 4.5% 19.0% 18.42%
1 Yr 15.2% 7.7% 25.6% 28.95%
3 Yr 1.7%* -6.8% 7.1% 38.57%
5 Yr 3.3%* -4.7% 11.4% 16.42%
10 Yr 4.7%* 0.8% 5.2% 10.87%

* Annualized

Return Ranking - Calendar

Period FPEIX Return Category Return Low Category Return High Rank in Category (%)
2023 -0.2% -3.6% 14.2% 86.84%
2022 -16.0% -29.4% -9.6% 30.00%
2021 0.0% -3.4% 17.2% 44.29%
2020 0.6% -24.8% 9.0% 61.19%
2019 10.6% 6.4% 19.1% 77.78%

Total Return Ranking - Trailing

Period FPEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 12.2% 4.5% 19.0% 18.42%
1 Yr 15.2% 7.7% 25.6% 28.95%
3 Yr 1.7%* -6.8% 7.1% 38.57%
5 Yr 3.3%* -4.7% 11.4% 16.42%
10 Yr 4.7%* 0.8% 5.2% 10.87%

* Annualized

Total Return Ranking - Calendar

Period FPEIX Return Category Return Low Category Return High Rank in Category (%)
2023 5.8% -1.9% 26.5% 65.79%
2022 -11.3% -26.0% -5.8% 28.57%
2021 5.2% -2.5% 27.4% 17.14%
2020 6.5% -19.2% 12.3% 28.36%
2019 16.9% 10.0% 32.0% 66.67%

NAV & Total Return History


FPEIX - Holdings

Concentration Analysis

FPEIX Category Low Category High FPEIX % Rank
Net Assets 238 M 24.1 M 14.5 B 80.26%
Number of Holdings 191 49 444 65.79%
Net Assets in Top 10 43.3 M 13.2 M 2.1 B 90.79%
Weighting of Top 10 19.22% 11.1% 48.1% 60.53%

Top 10 Holdings

  1. Bank of America Corp 2.63%
  2. Barclays PLC 2.27%
  3. Highlands Holdings Bond Issuer Ltd / Highlands Holdings Bond Co-Issuer Inc 2.22%
  4. Wells Fargo Co 2.01%
  5. JPMorgan Chase Co 1.77%
  6. Algonquin Power Utilities Corp 1.76%
  7. Intesa Sanpaolo SpA 1.73%
  8. Energy Transfer LP 1.72%
  9. Lloyds Banking Group PLC 1.64%
  10. Toronto-Dominion Bank/The 1.48%

Asset Allocation

Weighting Return Low Return High FPEIX % Rank
Bonds
81.15% 0.00% 97.75% 47.37%
Convertible Bonds
29.58% 0.00% 31.65% 6.85%
Preferred Stocks
17.14% 0.00% 125.69% 55.26%
Cash
1.71% -0.02% 11.04% 61.84%
Stocks
0.00% 0.00% 29.42% 76.32%
Other
0.00% -4.40% 10.15% 50.00%

Bond Sector Breakdown

Weighting Return Low Return High FPEIX % Rank
Corporate
97.69% 62.31% 100.00% 47.95%
Government
0.60% 0.00% 21.71% 26.03%
Derivative
0.00% -0.62% 9.46% 50.00%
Cash & Equivalents
0.00% 0.00% 11.04% 93.42%
Securitized
0.00% 0.00% 0.00% 56.16%
Municipal
0.00% 0.00% 0.00% 56.16%

Bond Geographic Breakdown

Weighting Return Low Return High FPEIX % Rank
US
81.15% 0.00% 97.61% 39.47%
Non US
0.00% 0.00% 22.53% 76.32%

FPEIX - Expenses

Operational Fees

FPEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.08% 0.05% 4.46% 54.67%
Management Fee 0.80% 0.00% 1.00% 82.89%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.55% N/A

Sales Fees

FPEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

FPEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FPEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 38.00% 12.00% 199.00% 60.61%

FPEIX - Distributions

Dividend Yield Analysis

FPEIX Category Low Category High FPEIX % Rank
Dividend Yield 5.54% 0.00% 9.59% 34.21%

Dividend Distribution Analysis

FPEIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FPEIX Category Low Category High FPEIX % Rank
Net Income Ratio 4.51% 0.88% 7.54% 36.11%

Capital Gain Distribution Analysis

FPEIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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FPEIX - Fund Manager Analysis

Managers

Scott Fleming


Start Date

Tenure

Tenure Rank

Jan 11, 2011

11.39

11.4%

Scott Fleming serves as President and CEO of Stonebridge setting the strategic direction of Stonebridge including operations, business and product development, and marketing strategies. Mr. Fleming leads the Investment Committee and oversees investment policies and strategies for all of the company’s portfolio management activities. Additionally, Mr. Fleming directs the daily management of preferred stock portfolios. Prior to founding Stonebridge in 2004, Mr. Fleming co-founded Spectrum Asset Management, Inc., an investment advisor that specializes in preferred securities asset management for institutional clients and mutual funds. During his 13-year tenure there, he served as Chairman of the Board of Directors, Chief Financial Officer and Chief Investment Officer. Under his leadership, Spectrum grew to be the largest preferred securities manager in the country. Mr. Fleming previously served as Vice President, Portfolio Manager for DBL Preferred Management, Inc. in New York City. Mr. Fleming received a B.S. in Accounting from Bentley College in Waltham, MA and his MBA in Finance from Babson College in Wellesley, MA.

Robert Wolf


Start Date

Tenure

Tenure Rank

Jan 11, 2011

11.39

11.4%

Robert Wolf serves as Chief Investment Officer, Senior Vice President and Senior Portfolio Manager at Stonebridge. Mr. Wolf is a senior member of Stonebridge Advisors’ Investment Committee and oversees investment strategies and portfolio management activities across fund products and separately managed accounts. Mr. Wolf directs the daily management of preferred securities portfolios and performs both credit research and trading functions. Mr. Wolf has over twenty years of fixed-income experience in both portfolio management and credit research. Prior to joining Stonebridge in 2006, Mr. Wolf was a high-yield fixed-income research analyst at Lehman Brothers. In this role, his responsibilities included detailed credit analysis across multiple sectors, relative value analysis, and developing trade recommendations. Mr. Wolf previously worked for Lehman Brothers’ commercial mortgage-backed securities (CMBS) trading desk as a credit analyst. Mr. Wolf received his B.S. degree in Chemistry from Villanova University and his MBA in Finance from the New York University Stern School of Business.

Eric Weaver


Start Date

Tenure

Tenure Rank

Mar 02, 2020

2.25

2.3%

SVP, PM & Chief Strategist

Angelo Graci


Start Date

Tenure

Tenure Rank

Mar 01, 2022

0.25

0.3%

EVP, Head of Credit Research

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 30.32 7.57 11.42