FPEI
First Trust Institutional Preferred Securities & Income ETF
$18.31
-0.06
(-0.33%)
AUM
$1.86B
Expense Ratio
0.85%
NAV
$18.49
Holdings
176
Asset Class
Core Investment Grade Bond
Inception
08/22/2017
Provider
First Trust
Top Holdings
Fund Description
The fund under normal market conditions, invests at least 80% of its net assets (including investment borrowings) in institutional preferred securities and income-producing debt securities. Preferred securities are a type of equity security that 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. The fund's investments in preferred securities will primarily be in institutional preferred securities.