FPEI Fees and Costs — First Trust Institutional Preferred Securities and Income ETF
Data updated: 2026-09-24
The net expense ratio is 0.85%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $9K in broker commissions, 0.0006% of average net assets, and portfolio turnover was 38%.
FPEI Fees and Expenses
Annual operating expenses and sales charges of FPEI. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.85% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.85% |
| Fee waiver | — |
| Net expense ratio | 0.85% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
FPEI Costs Over Time
On $10,000 invested in FPEI, assuming 5% a year before costs, total costs come to $534 over 5 years, cutting the return by 0.89% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.85%) | $89 | $279 | $484 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $89 | $293 | $534 |
| Value after costs | $10,411 | $11,283 | $12,229 |
| Impact on return, per year | 0.89% | 0.89% | 0.89% |
FPEI Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0006%
- Total broker commissions: $9K
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 38%
- Securities lending: none during the year
FPEI Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| R.J. O'BRIEN SECURITIES, LLC | $9K | 100.00% |
FPEI Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $270.2M | 24.60% |
| Mizuho Securities USA LLC | $189.9M | 17.28% |
| R.J. O'BRIEN SECURITIES, LLC | $138.3M | 12.59% |
| MORGAN STANLEY & CO. LLC | $121.1M | 11.03% |
| J.P. Morgan Securities LLC | $93.0M | 8.47% |
| BNP PARIBAS SECURITIES CORP. | $83.1M | 7.56% |
| CitiGroup Global Markets Inc. | $59.9M | 5.46% |
| JEFFERIES LLC | $58.2M | 5.30% |
| Seaport Global Securities LLC | $44.7M | 4.07% |
| BARCLAYS CAPITAL, INC. | $40.1M | 3.65% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.