FPF vs IVV
First Trust Intermediate Duration Preferred & Income Fund vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FPF | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 1.78% | 0.03% | |
| AUM | $1.8B | $865.2B | |
| Dividend Yield | 8.64% | 1.09% | |
| Holdings | 230 | 508 | |
| YTD Return | -0.56% | +13.80% | |
| 1Y Return | +1.75% | +23.01% | |
| 3Y Return (annualized) | +13.93% | +21.77% | |
| 5Y Return (annualized) | +0.74% | +13.39% | |
| Volatility (annualized) | 14.9% | 15.1% | |
| Max Drawdown | -54.6% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) | |
| Category | Allocation/Balanced | Equity | |
| Inception | May 24, 2013 | May 15, 2000 |
FPF vs IVV Performance
First Trust Intermediate Duration Preferred & Income Fund (FPF) is a ETF from First Trust Portfolios (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FPF returned +1.75% while IVV returned +23.01%. Year to date, FPF is down 0.56% versus a gain of 13.80% for IVV.
Over three years, FPF compounded at +13.93% per year against +21.77% for IVV; over five years the annualized figures are +0.74% and +13.39% respectively. Across the full 13-year window we track, IVV has the edge at +7.04% annualized vs +0.75%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVV has been the more volatile fund, with annualized monthly volatility of 15.1% compared with 14.9% for FPF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -54.6% for FPF and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.68. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FPF charges 1.78% per year while IVV charges 0.03%. On a $10,000 position that is $178 vs $3 annually, a gap of $175 per year that compounds over a long holding period. On income, FPF currently yields 8.64% against 1.09% for IVV.
Holdings Overlap
FPF and IVV share 7 holdings out of 668 unique holdings combined, representing a 1.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FPF or IVV?
FPF has an expense ratio of 1.78% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $175 per year of difference.
Which performed better, FPF or IVV?
Over the past year FPF returned +1.75% vs +23.01% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (13 years), FPF annualized +0.75% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, FPF or IVV?
IVV has been the more volatile fund at 15.1% annualized versus 14.9% for FPF. Worst drawdown: FPF -54.6% vs IVV -56.5%.
Should I hold both FPF and IVV?
FPF and IVV have a monthly-return correlation of 0.68, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FPF and IVV?
FPF and IVV share 7 common holdings with a 1.0% weight overlap. Combined, they hold 668 unique securities.
Which pays a higher dividend, FPF or IVV?
FPF yields 8.64% while IVV yields 1.09%, so FPF currently pays the higher dividend yield.
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