First Trust Institutional Preferred Securities & Income ETF
First Trust Institutional Preferred Securities & ETF (AMEX: FPEI) is an exchange-traded fund listed on NYSE Arca, trading at $18.57 (about ₹1,783 a unit) as of 25 Sep 2026, 2:07 PM ET. It has an expense ratio of 0.85% and holds 178 securities. Indian residents can buy FPEI through Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$18.55
Today's high
$18.60
52 week low
$18.55
52 week high
$19.61
FPEI opened at $18.59, closed previously at $18.59, and has traded between $18.55 and $19.61 over the past 52 weeks.
About
The fund under normal market conditions, invests at least 80% of its net assets (including investment borrowings) in institutional preferred securities and income-producing debt securities. Preferred securities are a type of equity security that have preference over common stock in the payment of distributions and the liquidation of a company's assets, but are generally junior to all forms of the company's debt, including both senior and subordinated debt. The fund's investments in preferred securities will primarily be in institutional preferred securities.
Key statistics
Expense ratio
0.85%
Assets (AUM)
$1.9B
Holdings
178
NAV
$18.82
Avg. volume
—
1-year price change
-4.65%
5-year price change
-10.36%
Price change excludes dividends.
Top 10 holdings
FPEI holds 178 securities in total. These 10 are 18.1% of the fund.
Where the money is invested
Sectors
Countries
How to buy FPEI from India
Indian residents can buy FPEI units through Paasa in three steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the units are held in your own name with Interactive Brokers.
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Search FPEI and buy
Find the fund by its ticker, FPEI, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Read the full guide: how to invest in FPEI from India
Trading and taxes when buying FPEI from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- Taxable in IndiaGains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
- Dividends
- Slab rateIt pays the dividends from its holdings out to you in cash, and dividends are taxed at your slab rate in India.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Units are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
What is the FPEI price today?
First Trust Institutional Preferred Securities & ETF (FPEI) last traded at $18.57 on NYSE Arca, as of 25 Sep 2026, 2:07 PM ET. That is ₹1,783 a unit at the 24 Sep 2026 USD/INR rate.
When does FPEI trade, in Indian time?
NYSE Arca trades 7:00 pm – 1:30 am IST, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
How big is FPEI, and what does it cost to hold?
First Trust Institutional Preferred Securities & ETF manages about $1.9B. Its expense ratio is 0.85% a year, deducted inside the fund. It launched in 2017.
What are FPEI's largest holdings?
The top three are BANK OF AMERICA CORP Variable rate (3.2%), CITIGROUP INC Series HH, Variable rate (2.2%) and CREDIT AGRICOLE SA Variable rate (2.0%). FPEI's 10 largest positions make up 18.1% of the fund.
Does FPEI pay dividends?
Yes. FPEI is a distributing fund and pays the dividends from its holdings out in cash. In India they are taxed at your slab rate.
How are gains on FPEI taxed in India?
Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling.
Can I buy fractional units of FPEI?
Yes. You can buy FPEI by amount rather than by whole unit, and there is no minimum trade size.
How has FPEI performed?
FPEI's price is down 4.6% over the past year and down 10.4% over five years. These figures are price change only and exclude dividends; past performance does not guarantee future returns.