FPE vs. IPPP ETF Comparison

Comparison of First Trust Preferred Securities and Income ETF ETF (FPE) to Preferred-Plus ETF (IPPP)

FPE

First Trust Preferred Securities and Income ETF ETF

FPE Description

The investment seeks total return and to provide current income. The fund invests at least 80% of its net assets (including investment borrowings) in preferred securities ("Preferred Securities") and income-producing debt securities ("Income Securities"). It invests in securities that are traded over-the-counter or listed on an exchange. The fund may invest in U.S. and non-U.S. debt and equity securities that are traded over-the-counter or listed on an exchange. It invests at least 60% of its net assets in securities rated investment grade (BBB-/Baa3 or higher) at the time of purchase. The fund is non-diversified.

Grade (RS Rating)

Last Trade

$17.81

Average Daily Volume

1,208,680

Number of Holdings ^*

18

* may have additional holdings in another (foreign) market

IPPP

Preferred-Plus ETF

IPPP Description

The investment seeks to provide income. The fund invests at least 80% of its net assets (plus any borrowings made for investment purposes) in a portfolio of preferred securities issued by U.S. and non-U.S. companies. It may invest in preferred securities of all issuer capitalizations. The fund may also invest in publicly-traded partnerships (“PTPs”). The Advisor intends to maintain approximately 10% asset exposure to a credit spread options strategy, although market conditions may dictate additional exposure.

Grade (RS Rating)

Last Trade

$10.41

Average Daily Volume

1,232

Number of Holdings ^*

12

* may have additional holdings in another (foreign) market

Performance

Period	FPE	IPPP
30 Days	-0.89%	0.15%
60 Days	-1.20%	-1.04%
90 Days	1.08%	3.16%
12 Months	16.25%	18.84%

7 Overlapping Holdings

	Symbol	Grade	Weight in FPE	Weight in IPPP	Overlap
	AGNC	D	0.01%	1.41%	0.01%
	AQNB	C	0.46%	1.26%	0.46%
	CMSD	C	0.11%	0.6%	0.11%
	SREA	D	0.2%	1.18%	0.2%
	T	A	0.18%	0.93%	0.18%
	UZE	B	0.52%	1.35%	0.52%
	WTFCP	A	0.18%	1.24%	0.18%

FPE Overweight 11 Positions Relative to IPPP

	Symbol	Grade	Weight
	BIL	A	1.2%
	USFR	A	1.19%
	SHV	A	1.08%
	BPYPN	D	0.36%
	BPYPO	C	0.31%
	AIZN	D	0.2%
	CMSC	C	0.16%
	CHSCM	D	0.13%
	MGR	D	0.04%
	DTW	D	0.03%
	ACGLO	C	0.0%

FPE Underweight 5 Positions Relative to IPPP

	Symbol	Grade	Weight
	NRUC	D	-0.97%
	TBC	C	-0.58%
	PRS	B	-0.57%
	RZB	C	-0.57%
	SOJD	F	-0.54%

FPE: Top Represented Industries & Keywords

Industries: Other Real Estate Services Banks - Regional Farm Products Insurance - Diversified REIT - Residential Telecom Services

Keywords: U.S. Treasury Bond Brookfield Asset Management Brookfield Property Partners Core Office ETF Electricity Exchange Traded Fund Mortgage Backed Security Mortgage Loan Natural Gas Natural Gas Storage Protection Products Real Estate Funds Retail Properties Affiliated Managers Group Agribusiness Agriculture American Capital American Depositary Receipt

IPPP: Top Represented Industries & Keywords

Industries: Other Banks - Regional REIT - Residential Telecom Services

Keywords: Electricity Mortgage Backed Security Natural Gas Natural Gas Distribution American Capital Asset Management Bank Banking Batteries Battery Charger Bond Insurance Broadband Commercial Banking Communication Services Critical Illness Customer Premises Equipment Data Communication Services Dial Up Internet Access Digital Subscriber Line Disability