FPEIX Fees and Costs — First Trust Preferred Securities and Income Fund, Class I
Data updated: 2026-09-24
The net expense ratio is 1.30%: a 0.80% management fee, a 0.15% 12b-1 fee plus 0.48% other expenses, less a 0.13% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $4K in broker commissions, 0.0020% of average net assets, and portfolio turnover was 48%.
FPEIX Fees and Expenses
Annual operating expenses and sales charges of FPEIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.80% |
| 12b-1 fee | 0.15% |
| Other expenses | 0.48% |
| Gross expense ratio | 1.43% |
| Fee waiver | −0.13% |
| Net expense ratio | 1.30% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
FPEIX Costs Over Time
On $10,000 invested in FPEIX, assuming 5% a year before costs, total costs come to $810 over 5 years, cutting the return by 1.37% 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 1.30%) | $136 | $425 | $734 |
| Trading costs (broker commissions) | $0 | $1 | $1 |
| Lost growth on money paid in costs | $0 | $21 | $74 |
| Total costs | $137 | $446 | $810 |
| Value after costs | $10,363 | $11,130 | $11,953 |
| Impact on return, per year | 1.37% | 1.37% | 1.37% |
FPEIX 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): 0.0020%
- Total broker commissions: $4K
- Bought from dealers (principal trades, not a cost): $185.2M
- Portfolio turnover (prospectus): 48%
- Securities lending: none during the year
FPEIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| RBC CAPITAL MARKETS, LLC | $4K | 100.00% |
FPEIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $29.7M | 20.48% |
| Mizuho Securities USA LLC | $22.9M | 15.77% |
| RBC CAPITAL MARKETS, LLC | $14.7M | 10.15% |
| MORGAN STANLEY & CO. LLC | $13.7M | 9.43% |
| BNP PARIBAS SECURITIES CORP. | $12.7M | 8.74% |
| MARKETAXESS CORPORATION | $11.5M | 7.94% |
| WELLS FARGO SECURITIES, LLC | $11.1M | 7.63% |
| J.P. Morgan Securities LLC | $10.4M | 7.13% |
| JEFFERIES LLC | $9.9M | 6.82% |
| PERSHING LLC | $8.6M | 5.91% |
First Trust Preferred Securities and Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| FPERX | Class R3 | 1.06% | none |
| FPEIX | Class I | 1.30% | none |
| FPECX | Class C | 1.40% | 4.50% |
| FPEAX | Class A | 1.65% | none |
| FPEFX | Class F | 2.15% | none |
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.