(FPEI) Institutional Preferred - Overview
Etf: Preferred, Debt, Income, Institutional
Dividends
| Dividend Yield | 6.20% |
| Yield on Cost 5y | 7.58% |
| Yield CAGR 5y | 6.71% |
| Payout Consistency | 97.1% |
| Payout Ratio | - |
| Risk 5d forecast | |
|---|---|
| Volatility | 3.29% |
| Relative Tail Risk | -5.91% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.40 |
| Alpha | 4.82 |
| Character TTM | |
|---|---|
| Beta | 0.136 |
| Beta Downside | 0.201 |
| Drawdowns 3y | |
|---|---|
| Max DD | 12.63% |
| CAGR/Max DD | 0.62 |
Description: FPEI Institutional Preferred January 14, 2026
The First Trust Institutional Preferred Securities and Income ETF (FPEI) allocates at least 80 % of its net assets-including any borrowing-to institutional preferred securities and other income-producing debt instruments. Preferred securities sit between equity and debt in the capital structure: they receive dividend-style distributions before common stock but are subordinate to all senior and subordinated debt.
Key metrics (as of the latest filing) show an average weighted-average coupon of roughly 5.2 % and a distribution yield near 4.8 %, reflecting the fund’s focus on higher-yielding, credit-rated issuers. The portfolio’s sensitivity to interest-rate moves is modest (duration ≈ 3 years), but a steepening yield curve can compress spreads on preferreds, while a tightening curve may boost demand for their relatively stable cash flows. The fund’s sector tilt leans heavily toward financials (≈ 45 % of assets), where banks and insurance companies frequently issue institutional preferreds to manage capital ratios.
For a deeper dive into how FPEI’s yield dynamics compare to broader preferred-stock benchmarks, you might explore ValueRay’s analytics platform for real-time spread and duration insights.
What is the price of FPEI shares?
Over the past week, the price has changed by +0.21%, over one month by +0.58%, over three months by +1.97% and over the past year by +10.25%.
Is FPEI a buy, sell or hold?
What are the forecasts/targets for the FPEI price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | - | - |
| Analysts Target Price | - | - |
| ValueRay Target Price | 21.9 | 12.5% |
FPEI Fundamental Data Overview February 04, 2026
EBIT TTM = 0.0 USD
EBITDA TTM = 0.0 USD
Long Term Debt = unknown (none)
Short Term Debt = unknown (none)
Debt = unknown
Net Debt = unknown
Enterprise Value = 1.87b USD (1.87b + (null Debt) - (null CCE))
Interest Coverage Ratio = unknown (Ebit TTM 0.0 / Interest Expense TTM 0.0)
EV/FCF = unknown (FCF TTM 0.0)
FCF Yield = 0.0% (FCF TTM 0.0 / Enterprise Value 1.87b)
FCF Margin = unknown (Revenue TTM is 0 or missing)
Net Margin = unknown
Gross Margin = unknown ((Revenue TTM 0.0 - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = unknown (Enterprise Value 1.87b / Total Assets none)
Interest Expense / Debt = unknown (Interest Expense 0.0 / Debt none)
Taxrate = 21.0% (US default 21%)
NOPAT = 0.0 (EBIT 0.0 * (1 - 21.00%))
Current Ratio = unknown (Total Current Assets none / Total Current Liabilities none)
Debt / Equity = unknown (Debt none)
Debt / EBITDA = unknown (Net Debt none / EBITDA 0.0)
Debt / FCF = unknown (Net Debt none / FCF TTM 0.0)
Total Stockholder Equity = 0.0 (from calculated bookValueOfEquity)
RoA = unknown (Net Income 0.0 / Total Assets none)
RoE = unknown (Net Income TTM 0.0 / Total Stockholder Equity 0.0)
RoCE = unknown (EBIT 0.0 / Capital Employed )
RoIC = unknown (NOPAT 0.0, Invested Capital 0.0, EBIT 0.0)
WACC = 6.41% (E(1.87b)/V(1.87b) * Re(6.41%) + (debt-free company))
Discount Rate = 6.41% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Fair Price DCF = unknown (Cash Flow 0.0)