PFF vs FPE: Holdings Overlap
PFFiShares Preferred and Income Securities ETF
iShares · 455 holdings · $13.3B · as of 2026-03-31
FPEFirst Trust Preferred Securities and Income ETF
First Trust · 259 holdings · $6.3B · as of 2026-04-30
Holdings snapshots are 30 days apart (PFF: 2026-03-31, FPE: 2026-04-30). 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 PFF and FPE?
iShares Preferred and Income Securities ETF (PFF, by iShares) holds 455 positions; First Trust Preferred Securities and Income ETF (FPE, by First Trust) holds 259. They have 101 holdings in common, and by portfolio weight the two funds are 14.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 14.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 101PFF holds 455 · FPE holds 259
- Weight in Shared Holdings
- PFF 28%·FPE 26%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 PFF
354 of 455 positions (70.7% of the fund) are not held by FPE. Showing the top 30 by weight.
- Boeing Co. 6% SER A DEP SHS REPSTG 1/20TH INT MANDATORY CONV PFD3.98%
- Oracle Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK2.40%
- Albemarle Corp DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 7.25% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK1.76%
- Strategy Inc. VARIABLE RATE SERIES A PERPETUAL STRETCH PREFERRED STOCK1.49%
- Citigroup Capital XIII FIXED/FLOAT TRUST PREFERRED SECURITIES1.41%
- Bank of America Corp. 7.25% NON-CUMULATIVE PERPETUAL CONVERTIBLE PREFERRED STOCK SERIES L1.35%
Only in FPE
158 of 259 positions (72.5% of the fund) are not held by PFF. Showing the top 30 by weight.
- Bank of America Corp.2.52%
BARCBACR V8 PERP1.65%
- JPMorgan Chase & Co., Series NN1.35%
- ACAFP V7.125 PERP 144A1.23%
- Citigroup Inc.1.20%
- BNP Paribas1.13%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| PFF | +0.9% | +1.9% | +4.1% | +6.2% | +0.8% | +3.0% | 5.41% |
| FPE | +0.2% | +1.4% | +5.5% | +9.5% | +2.8% | +4.8% | 5.98% |
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 PFF vs FPE →
Shared Holdings(101)
The top 10 shared positions account for 37% of the overlap, led by Wells Fargo & Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L, Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085 and NextEra Energy Capital Holdings Inc SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085.
| Wells Fargo & Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L | 2.29% | 2.07% | 2.07% |
|---|---|---|---|
| Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085 | 0.47% | 1.25% | 0.47% |
| NextEra Energy Capital Holdings Inc SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085 | 0.46% | 1.40% | 0.46% |
| Athene Holding Ltd 6.35%DEP 1/1000TH PERP NON CUM PFD SER A | 0.43% | 0.49% | 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 | 0.44% | 0.42% | 0.42% |
| Aegon Funding Company LLC 5.10% SUBORDINATED NOTES DUE DECEMBER 15, 2049 | 0.37% | 0.97% | 0.37% |
| Equitable Holdings Inc 5.25% DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF FIXED RATE NONCUMULATIVE PERPETUAL PREFERRED STOCK | 0.34% | 0.43% | 0.34% |
| DTE Energy Co. 6.250% JUNIOR SUBORDINATED DEBENTURES DUE ON OCTOBER 1, 2085 | 0.30% | 1.01% | 0.30% |
| Southern Co. CALLABLE JUNIOR SUBORDINATED NOTES DUE MARCH 15, 2085 | 0.30% | 0.33% | 0.30% |
| Corebridge Financial Inc. 6.375% JUNIOR SUBORDINATED NOTES DUE DECEMBER 15,2064. | 0.29% | 1.08% | 0.29% |
| Athene Holding Ltd JUNIOR SUBORDINATED DEBENTURES DUE ON MARCH 30, 2064 | 0.29% | 0.69% | 0.29% |
| 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 | 0.27% | 0.34% | 0.27% |
| 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 | 0.27% | 0.58% | 0.27% |
| Sempra 5.75% JUNIOR SUBORDINATED NOTES DUE JULY 1, 2079 | 0.33% | 0.26% | 0.26% |
| AT&T Inc 5.350% GLOBAL NOTES DUE 2066 | 0.60% | 0.24% | 0.24% |
| Wintrust Financial Corporation DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF 7.875% FIXED-RATE RESET NON-CUMULATIVE PERPETUAL | 0.23% | 0.25% | 0.23% |
| CMS Energy Corporation 5.875% FIXED RATE JUNIOR SUBORDINATED NOTES DUE ON 3/1/2079 | 0.30% | 0.22% | 0.22% |
| Affiliated Managers Group, Inc. FIXED JUNIOR SUBORDINATED NOTES DUE MARCH 30, 2064 | 0.22% | 0.46% | 0.22% |
| TPG Operating Group II LP FIXED-RATE JUNIOR SUBORDINATED NOTES DUE ON MARCH 15, 2064 | 0.21% | 0.50% | 0.21% |
| Agnc Investment Corp DEPOSITARY SHARES EACH REPRESENTING 1/1,000TH OF A SHARE OF 6.125% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRE | 0.30% | 0.20% | 0.20% |
| Southern Co. 4.95% JUNIOR SUBORDINATED NOTES DUE JANUARY 30, 2080 | 0.41% | 0.20% | 0.20% |
| Annaly Capital Management, Inc. 6.95% SERIES F FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PREFERRED STOCK | 0.39% | 0.19% | 0.19% |
| TransCanada Pipelines Limited CALLABLE JUNIOR SUBORDINATED NOTES DUE 01 NOV 2085 | 0.19% | 0.21% | 0.19% |
| Carlyle Finance LLC CARLYLE FINANCE L.L.C. 4.625% SUBORDINATED NOTES DUE MAY 15, 2061 | 0.19% | 0.54% | 0.19% |
| T-Mobile USA, Inc. 6.250% SENIOR NOTES DUE SEPTEMBER 1, 2069 | 0.20% | 0.19% | 0.19% |
Frequently Asked Questions
How much do PFF and FPE overlap?
PFF and FPE overlap by 14.7% of portfolio weight. They share 101 holdings (PFF holds 455 positions and FPE holds 259), based on each fund's latest SEC-reported holdings.
Is it redundant to own both PFF and FPE?
The two portfolios are 14.7% 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 PFF and FPE?
The largest positions held by both funds are Wells Fargo & Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L, Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 2085, NextEra Energy Capital Holdings Inc SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 2085, Athene Holding Ltd 6.35%DEP 1/1000TH PERP NON CUM PFD SER A and 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. Together the top 10 shared positions account for 37% of the total overlap.
What does PFF own that FPE doesn't?
354 positions (70.7% of PFF) are unique to PFF, led by Boeing Co. 6% SER A DEP SHS REPSTG 1/20TH INT MANDATORY CONV PFD, Oracle Corp. DEPOSITARY SHARES EACH REPRESENTING A 1/2,000TH INTEREST IN A SHARE OF 6.50% SERIES D MANDATORY CONVERTIBLE PREFERRED STOCK and Albemarle Corp DEPOSITARY SHARES EACH REPRESENTING A 1/20TH INTEREST IN A SHARE OF 7.25% SERIES A MANDATORY CONVERTIBLE PREFERRED STOCK. In the other direction, 158 positions (72.5% of FPE) are unique to FPE.