First Trust Advisors has launched a new actively managed exchange-traded fund to bet on preferred securities and income-producing debt securities, including corporate bonds, high-yield securities and convertible securities.

The First Trust Preferred Securities and Income ETF (FPE) will be subadvised by Stonebridge Advisors, a Wilton, CT-based Registered Investment Advisor. The fund sports an expense ratio of 85 basis points.

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