VRP vs FPE: Holdings Overlap
VRPInvesco Variable Rate Preferred ETF
Invesco · 343 holdings · $3.0B · as of 2026-05-31
FPEFirst Trust Preferred Securities and Income ETF
First Trust · 259 holdings · $6.3B · as of 2026-04-30
Holdings snapshots are 31 days apart (VRP: 2026-05-31, 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 VRP and FPE?
Invesco Variable Rate Preferred ETF (VRP, by Invesco) holds 343 positions; First Trust Preferred Securities and Income ETF (FPE, by First Trust) holds 259. They have 79 holdings in common, and by portfolio weight the two funds are 21.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 21.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 79VRP holds 343 · FPE holds 259
- Weight in Shared Holdings
- VRP 29%·FPE 32%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 VRP
264 of 343 positions (68.7% of the fund) are not held by FPE. Showing the top 30 by weight.
- JPMorgan Chase & Co., Series OO1.10%
- Citigroup Capital XIII, Pfd.0.92%
- Bank of America Corp.0.91%
- BP Capital Markets PLC0.89%
- CVS Health Corp.0.84%
- Bank of America Corp., Series FF0.83%
Only in FPE
180 of 259 positions (66.8% of the fund) are not held by VRP. Showing the top 30 by weight.
- Wells Fargo & Co. 7.5% NON-CUMULATIVE PERPETUAL CONVERTIBLE CLASS A PREFERRED STOCK, SERIES L2.07%
BARCBACR V8 PERP1.65%
- NextEra Energy Capital Holdings Inc SERIES U JUNIOR SUBORDINATED DEBENTURES DUE JUNE 1, 20851.40%
- Xcel Energy Inc 6.25% NOTES ISSUED DUE ON OCTOBER 15, 20851.25%
- ACAFP V7.125 PERP 144A1.23%
- BNP Paribas1.13%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VRP | -0.1% | +2.5% | +5.3% | +8.6% | +4.1% | +4.9% | 6.16% |
| 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 VRP vs FPE →
Shared Holdings(79)
The top 10 shared positions account for 34% of the overlap, led by Bank of America Corp., JPMorgan Chase & Co., Series NN and Citigroup Inc..
| Bank of America Corp. | 1.12% | 2.52% | 1.12% |
|---|---|---|---|
| JPMorgan Chase & Co., Series NN | 0.94% | 1.35% | 0.94% |
| Citigroup Inc. | 0.91% | 1.20% | 0.91% |
| Goldman Sachs Group, Inc. (The), Series X | 0.85% | 1.04% | 0.85% |
| Charles Schwab Corp. (The), Series H | 0.75% | 1.07% | 0.75% |
| WELLS FARGO and CO NEW 6.125%/VAR PERP | 0.82% | 0.61% | 0.61% |
| Citigroup Inc., Series GG | 0.99% | 0.57% | 0.57% |
| PNC Financial Services Group, Inc. (The), Series W | 0.55% | 0.63% | 0.55% |
| American Electric Power Co., Inc., Series D | 0.54% | 0.58% | 0.54% |
| Enbridge, Inc. | 0.51% | 0.54% | 0.51% |
| Southern Co. (The), Series 2025 | 0.66% | 0.50% | 0.50% |
| Goldman Sachs Group, Inc. (The), Series Y | 0.72% | 0.49% | 0.49% |
| Dominion Energy, Inc. | 0.48% | 0.63% | 0.48% |
| Bell Telephone Co. of Canada or Bell Canada | 0.47% | 0.93% | 0.47% |
| Dominion Energy, Inc. | 0.46% | 0.89% | 0.46% |
| Sempra | 0.45% | 0.56% | 0.45% |
| NextEra Energy Capital Holdings, Inc. | 0.45% | 0.58% | 0.45% |
| Citigroup, Inc., Series FF | 0.74% | 0.40% | 0.40% |
| Wells Fargo & Co. | 0.75% | 0.39% | 0.39% |
| Charles Schwab Corp. (The), Series L | 0.54% | 0.39% | 0.39% |
| Duke Energy Corp. | 0.38% | 0.39% | 0.38% |
| Rogers Communications, Inc. | 0.37% | 0.49% | 0.37% |
| Citigroup Inc., Series DD | 0.56% | 0.34% | 0.34% |
| JPMorgan Chase & Co. FXD-FRN PERP USD (SEC REGD) (PP) | 0.76% | 0.34% | 0.34% |
| State Street Corp., Series J | 0.32% | 0.44% | 0.32% |
Frequently Asked Questions
How much do VRP and FPE overlap?
VRP and FPE overlap by 21.6% of portfolio weight. They share 79 holdings (VRP holds 343 positions and FPE holds 259), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VRP and FPE?
The two portfolios are 21.6% 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 VRP and FPE?
The largest positions held by both funds are Bank of America Corp., JPMorgan Chase & Co., Series NN, Citigroup Inc., Goldman Sachs Group, Inc. (The), Series X and Charles Schwab Corp. (The), Series H. Together the top 10 shared positions account for 34% of the total overlap.
What does VRP own that FPE doesn't?
264 positions (68.7% of VRP) are unique to VRP, led by JPMorgan Chase & Co., Series OO, Citigroup Capital XIII, Pfd. and Bank of America Corp.. In the other direction, 180 positions (66.8% of FPE) are unique to FPE.