FEOE vs. FEGE

Last updated Jun 24, 2026

FEOE (First Eagle Overseas Equity ETF) and FEGE (First Eagle Global Equity ETF) are both exchange-traded funds - FEOE is a Foreign Large Cap Equities fund actively managed by First Eagle, while FEGE is a Large Cap Value Equities fund actively managed by First Eagle. Both are actively managed. Over the past year, FEOE returned 28.49% vs 23.54% for FEGE. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

FEOE vs. FEGE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Overseas Equity ETF (FEOE) and First Eagle Global Equity ETF (FEGE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEOE achieves a 8.71% return, which is significantly higher than FEGE's 5.24% return.

FEOE

• 1D: -2.01%
• 1M: -2.54%
• YTD: 8.71%
• 6M: 9.01%
• 1Y: 28.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FEGE

• 1D: -0.82%
• 1M: -2.96%
• YTD: 5.24%
• 6M: 4.76%
• 1Y: 23.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FEOE vs. FEGE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEOE First Eagle Overseas Equity ETF	8.71%	41.33%	-0.74%
FEGE First Eagle Global Equity ETF	5.24%	34.19%	-1.43%

Correlation

The correlation between FEOE and FEGE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024	0.88

The correlation between FEOE and FEGE has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

FEOE vs. FEGE - Sectors Allocation Comparison

Sectors	FEOE	FEGE
Consumer Defensive	21.2%	14.8%
Industrials	14.7%	9.8%
Technology	14.4%	16.1%
Financial Services	13.2%	11.6%
Consumer Cyclical	12.2%	6.5%
Basic Materials	10.2%	9.0%
Energy	7.1%	8.2%
Healthcare	4.0%	11.6%
Real Estate	2.4%	3.9%
Communication Services	0.7%	8.4%
Utilities	-	-

Return for Risk

FEOE vs. FEGE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FEOE

FEOE Risk / Return Rank: 56
FEOE Sharpe Ratio Rank: 63
FEOE Sortino Ratio Rank: 57
FEOE Omega Ratio Rank: 62
FEOE Calmar Ratio Rank: 51
FEOE Martin Ratio Rank: 50

FEGE

FEGE Risk / Return Rank: 52
FEGE Sharpe Ratio Rank: 60
FEGE Sortino Ratio Rank: 56
FEGE Omega Ratio Rank: 54
FEGE Calmar Ratio Rank: 46
FEGE Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FEOE vs. FEGE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Overseas Equity ETF (FEOE) and First Eagle Global Equity ETF (FEGE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FEOE	FEGE	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.86	+0.03
Sortino ratio: Return per unit of downside risk	2.49	2.51	-0.03
Omega ratio: Gain probability vs. loss probability	1.34	1.32	+0.02
Calmar ratio: Return relative to maximum drawdown	2.33	2.16	+0.17
Martin ratio: Return relative to average drawdown	8.02	7.24	+0.77

FEOE vs. FEGE - Sharpe Ratio Comparison

The current FEOE Sharpe Ratio is 1.90, which is comparable to the FEGE Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of FEOE and FEGE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FEOE vs. FEGE - Drawdown Comparison

The maximum FEOE drawdown since its inception was -12.27%, which is greater than FEGE's maximum drawdown of -11.13%. Use the drawdown chart below to compare losses from any high point for FEOE and FEGE.

Drawdown Indicators

	FEOE	FEGE	Difference
Max Drawdown Largest peak-to-trough decline	-12.27%	-11.13%	-1.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.27%	-10.96%	-1.31%
Current Drawdown Current decline from peak	-5.53%	-5.89%	+0.36%
Average Drawdown Average peak-to-trough decline	-1.86%	-1.79%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	3.26%	+0.30%

Volatility

FEOE vs. FEGE - Volatility Comparison

First Eagle Overseas Equity ETF (FEOE) has a higher volatility of 5.36% compared to First Eagle Global Equity ETF (FEGE) at 3.95%. This indicates that FEOE's price experiences larger fluctuations and is considered to be riskier than FEGE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEOE	FEGE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	3.95%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	13.19%	10.57%	+2.62%
Volatility (1Y) Calculated over the trailing 1-year period	15.11%	12.70%	+2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.88%	14.69%	+1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.88%	14.69%	+1.19%

FEOE vs. FEGE - Expense Ratio Comparison

Both FEOE and FEGE have an expense ratio of 0.50%.

Dividends

FEOE vs. FEGE - Dividend Comparison

FEOE's dividend yield for the trailing twelve months is around 1.40%, more than FEGE's 1.22% yield.

Position	TTM	2025
FEGE First Eagle Global Equity ETF	1.22%	1.28%
FEOE First Eagle Overseas Equity ETF	1.40%	1.53%

Frequently Asked Questions

Can I hold both FEOE and FEGE in my portfolio?

With a correlation of 0.90, FEOE and FEGE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FEOE or FEGE?

FEOE has higher volatility (5.36%) compared to FEGE (3.95%). In terms of maximum drawdown, FEOE dropped -12.27% vs FEGE's -11.13%.

Which ETF is better, FEOE or FEGE?

On 1-year performance, FEOE leads with 28.49% vs 23.54% for FEGE. Both ETFs have the same 0.50% expense ratio. On volatility, FEGE has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEOE or FEGE?

Over the 1-year period, FEOE has performed better with a 28.49% return vs 23.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEOE or FEGE?

FEOE and FEGE have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, FEOE or FEGE?

FEOE has the higher dividend yield at 1.40%, compared with 1.22% for FEGE.

What is the main difference between FEOE and FEGE?

FEOE is categorized as Foreign Large Cap Equities, while FEGE is Large Cap Value Equities.

Which has better risk-adjusted returns?

FEOE currently has the higher Sharpe Ratio (1.90 vs 1.86), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.