ETF Evaluator: First Trust EIP Power Solutions ETF (FPWR) Follow This ETF

First Trust EIP Power Solutions ETF Overview

First Trust EIP Power Solutions ETF (FPWR) is an actively managed Sector Equity Utilities exchange-traded fund (ETF). First Trust launched the ETF in 2019.

The investment seeks to achieve a competitive risk-adjusted total return balanced between dividends and capital appreciation. Under normal market conditions, the fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in the equity securities of companies identified by the fund’s investment sub-advisor, Energy Income Partners, LLC (“EIP” or the “Sub-Advisor”), as Power Solutions Companies. The fund is non-diversified.

About First Trust EIP Power Solutions ETF (FPWR)

There are 4 members of the management team with an average tenure of 5.45 years: James Murchie (2019), Eva Pao (2019), Saul Ballesteros (2025) and John Tysseland (2019). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and PHLX Utilities PR USD index with a weighting of 100%. First Trust EIP Power Solutions ETF has 60 securities in its portfolio. The top 10 holdings constitute 39.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is considered to have an ESG focus with its investment selection and management.

First Trust EIP Power Solutions ETF is part of the Equity global asset class and is within the Sector Equity ETF group. First Trust EIP Power Solutions ETF has 4.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 87.5% There is 4.7% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). First Trust EIP Power Solutions ETF has 7.9% of the portfolio in cash.

Assets Under Management

The fund has $29 million in total assets, which is below the $2 billion average for the Utilities category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FPWR Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The First Trust EIP Power Solutions ETF expense ratio is high compared to funds in the Utilities category. First Trust EIP Power Solutions ETF has an expense ratio of 0.96%, which is 122% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. First Trust EIP Power Solutions ETF has a portfolio turnover rate of 67%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 24% for the Utilities category.

Recently, in the month of August 2026, First Trust EIP Power Solutions ETF returned -0.9%, which earned it a grade of A, as the Utilities category had an average return of -4.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

First Trust EIP Power Solutions ETF has a trailing yield of 1.94%, which is below the 2.06% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

First Trust EIP Power Solutions ETF Grades

Year to date, the ETF has returned 12.5%, 9.4 percentage points better than the category, which translates into a grade of A. The fund has returned 15.0% over the past year (grade of A), 17.8% over the past three years (grade of B) and 11.0% per year over the past five years (grade of A).

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