About First Trust Institutional Preferred Securities and Income ETF (FPEI)

The First Trust Institutional Preferred Securities and Income ETF (FPEI) is an exchange-traded fund that seeks to provide investors with exposure to the performance of preferred securities issued by U.S. companies. Preferred securities are hybrid securities that combine characteristics of both common stocks and bonds. They typically pay a fixed dividend and have a higher claim on a company's assets in the event of bankruptcy compared to common stocks.

FPEI aims to track the performance of the ICE Exchange-Listed Preferred & Hybrid Securities Index. This index is designed to measure the performance of U.S. listed preferred securities and hybrid securities, including convertible preferred securities and convertible securities. The index is market capitalization-weighted and consists of a diverse range of issuers and industries.