FPE vs PGX: Holdings Overlap
FPEFirst Trust Preferred Securities and Income ETF
First Trust · 259 holdings · $6.3B · as of 2026-04-30
Invesco · 266 holdings · $3.8B · as of 2026-05-31
Holdings snapshots are 31 days apart (FPE: 2026-04-30, PGX: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are FPE and PGX?
First Trust Preferred Securities and Income ETF (FPE, by First Trust) holds 259 positions; Invesco Preferred ETF (PGX, by Invesco) holds 266. They have 88 holdings in common, and by portfolio weight the two funds are 16.1% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 16.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 88FPE holds 259 · PGX holds 266
- Weight in Shared Holdings
- FPE 23%·PGX 43%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in FPE
171 of 259 positions (75.8% of the fund) are not held by PGX. Showing the top 30 by weight.
- Bank of America Corp.2.52%
- Wells Fargo & Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L2.07%
BARCBACR V8 PERP1.65%
- JPMorgan Chase & Co., Series NN1.35%
- ACAFP V7.125 PERP 144A1.23%
- Citigroup Inc.1.20%
Only in PGX
178 of 266 positions (57.3% of the fund) are not held by FPE. Showing the top 30 by weight.
- JPMorgan Chase & Co., Series EE, Pfd.1.77%
- JPMorgan Chase & Co., Series MM, Pfd.1.31%
- Bank of America Corp., Series GG, Pfd.1.27%
- JPMorgan Chase & Co., Series JJ, Pfd.1.05%
- Bank of America Corp., Series K, Pfd.1.02%
- Bank of America Corp., Series LL, Pfd.0.99%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FPE | +0.2% | +1.4% | +5.5% | +9.5% | +2.8% | +4.8% | 5.98% |
| PGX | -0.9% | -1.2% | +0.7% | +4.4% | -1.3% | +2.0% | 6.40% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in FPE vs PGX →
Shared Holdings(88)
The top 10 shared positions account for 36% of the overlap, led by NextEra Energy Capital Holdings Inc SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085, Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085 and Aegon Funding Company LLC 5.10% SUBORDINATED NOTES DUE DECEMBER 15, 2049.
| NextEra Energy Capital Holdings Inc SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085 | 1.40% | 0.82% | 0.82% |
|---|---|---|---|
| Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085 | 1.25% | 0.82% | 0.82% |
| Aegon Funding Company LLC 5.10% SUBORDINATED NOTES DUE DECEMBER 15, 2049 | 0.97% | 0.67% | 0.67% |
| DTE Energy Co. 6.250% JUNIOR SUBORDINATED DEBENTURES DUE ON OCTOBER 1, 2085 | 1.01% | 0.56% | 0.56% |
| Athene Holding Ltd JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064 | 0.69% | 0.55% | 0.55% |
| Corebridge Financial Inc. 6.375% JUNIOR SUBORDINATED NOTES DUE DECEMBER 15,2064. | 1.08% | 0.52% | 0.52% |
| Athene Holding Ltd 6.35%DEP 1/1000TH PERP NON CUM PFD SER A | 0.49% | 0.80% | 0.49% |
| Athene Holding Ltd DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF THE ISSUERS 7.750% FIXED-RATE RESET PERPETUAL NON-CUMULATIV | 0.58% | 0.48% | 0.48% |
| Equitable Holdings Inc 5.25% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED STOCK | 0.43% | 0.59% | 0.43% |
| Bank of America Corp. DEP SHS EACH REP A 1/1,000TH INT IN A SHARE OF BANK OF AMERICA CORP 5.375% NON-CUMULATIVE PREFERRED STOCK, SERIES KK | 0.42% | 1.14% | 0.42% |
| Affiliated Managers Group, Inc. FIXED JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2064 | 0.46% | 0.41% | 0.41% |
| TPG Operating Group II LP FIXED-RATE JUNIOR SUBORDINATED NOTES DUE ON MARCH 15, 2064 | 0.50% | 0.36% | 0.36% |
| The Bank of New York Mellon Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/4,000TH INTEREST IN A SHARE OF SERIES K NONCUMULATIVE PERPETUAL PREFERRED ST | 0.34% | 0.49% | 0.34% |
| T-Mobile USA, Inc. 5.500% SENIOR NOTES ISSUED DUE ON MARCH 1, 2070 | 1.09% | 0.33% | 0.33% |
| F&G Annuities & Life Inc. 7.95% SENIOR NOTES DUE 12/15/2053 | 0.70% | 0.33% | 0.33% |
| Southern Co. CALLABLE JUNIOR SUBORDINATED NOTES DUE MARCH 15, 2085 | 0.33% | 0.54% | 0.33% |
| T-Mobile USA, Inc. 5.500% SENIOR NOTES DUE ON JUNE 1, 2070 | 0.85% | 0.32% | 0.32% |
| Carlyle Finance LLC CARLYLE FINANCE L.L.C. 4.625% SUBORDINATED NOTES DUE MAY 15, 2061 | 0.54% | 0.31% | 0.31% |
| F&G Annuities & Life Inc. CALLABLE FIXED FOR LIFE JUNIOR SUBORDINATED NOTES DUE JANUARY 15, 2065 | 0.94% | 0.31% | 0.31% |
| American National Group Inc. DEPOSITARY SHARE REPRESENTING 1/1000TH, 7.375% FIXED-RATE NON-CUMULATIVE PREFERRED STOCK SERIES D | 0.44% | 0.28% | 0.28% |
| KKR Group Finance Company IX LLC 4.625% SUBORDINATED NOTES DUE APRIL 1, 2061 | 0.27% | 0.31% | 0.27% |
| Sempra 5.75% JUNIOR SUBORDINATED NOTES DUE JULY 1, 2079 | 0.26% | 0.61% | 0.26% |
| Wintrust Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 7.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL | 0.25% | 0.42% | 0.25% |
| CMS Energy Corporation 5.875% OF JUNIOR SUBORDINATED PREFERRED SECURITIES DUE ON 10/15/2078 | 0.35% | 0.24% | 0.24% |
| AT&T Inc 5.350% GLOBAL NOTES DUE 2066 | 0.24% | 1.05% | 0.24% |
Frequently Asked Questions
How much do FPE and PGX overlap?
FPE and PGX overlap by 16.1% of portfolio weight. They share 88 holdings (FPE holds 259 positions and PGX holds 266), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FPE and PGX?
The two portfolios are 16.1% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of FPE and PGX?
The largest positions held by both funds are NextEra Energy Capital Holdings Inc SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085, Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085, Aegon Funding Company LLC 5.10% SUBORDINATED NOTES DUE DECEMBER 15, 2049, DTE Energy Co. 6.250% JUNIOR SUBORDINATED DEBENTURES DUE ON OCTOBER 1, 2085 and Athene Holding Ltd JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064. Together the top 10 shared positions account for 36% of the total overlap.
What does FPE own that PGX doesn't?
171 positions (75.8% of FPE) are unique to FPE, led by Bank of America Corp., Wells Fargo & Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L and BARC. In the other direction, 178 positions (57.3% of PGX) are unique to PGX.