FEOE vs. USFE

Last updated Jun 4, 2026

FEOE (First Eagle Overseas Equity ETF) and USFE (First Eagle US Equity ETF) are both exchange-traded funds - FEOE is a Foreign Large Cap Equities fund actively managed by First Eagle, while USFE is a Large Cap Value Equities fund actively managed by First Eagle. Both are actively managed. A 0.68 correlation means they provide meaningful diversification when combined. FEOE charges 0.50%/yr vs 0.45%/yr for USFE.

Performance

FEOE vs. USFE - Performance Comparison

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

Returns By Period

FEOE

• 1D: -1.24%
• 1M: 4.06%
• YTD: 11.79%
• 6M: 14.94%
• 1Y: 32.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFE

• 1D: -0.63%
• 1M: 1.17%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEOE vs. USFE - Yearly Performance Comparison

	2026 (YTD)
FEOE First Eagle Overseas Equity ETF	2.74%
USFE First Eagle US Equity ETF	-0.58%

Correlation

The correlation between FEOE and USFE is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 28, 2026	0.68

Return for Risk

FEOE vs. USFE — Risk / Return Rank

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

FEOE

FEOE Risk / Return Rank: 61
FEOE Sharpe Ratio Rank: 68
FEOE Sortino Ratio Rank: 63
FEOE Omega Ratio Rank: 67
FEOE Calmar Ratio Rank: 54
FEOE Martin Ratio Rank: 54

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. USFE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Overseas Equity ETF (FEOE) and First Eagle US Equity ETF (USFE). 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.

	FEOE	USFE	Difference
Sharpe ratio: Return per unit of total volatility	2.24	—	—
Sortino ratio: Return per unit of downside risk	2.91	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	2.62	—	—
Martin ratio: Return relative to average drawdown	9.34	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FEOE	USFE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.38	-0.14	+2.52

Drawdowns

FEOE vs. USFE - Drawdown Comparison

The maximum FEOE drawdown since its inception was -12.27%, which is greater than USFE's maximum drawdown of -9.37%. Use the drawdown chart below to compare losses from any high point for FEOE and USFE.

Drawdown Indicators

	FEOE	USFE	Difference
Max Drawdown Largest peak-to-trough decline	-12.27%	-9.37%	-2.90%
Max Drawdown (1Y) Largest decline over 1 year	-12.27%	—	—
Current Drawdown Current decline from peak	-2.86%	-3.62%	+0.76%
Average Drawdown Average peak-to-trough decline	-1.78%	-3.73%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	—	—

Volatility

Volatility by Period

	FEOE	USFE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.41%	11.65%	+2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.63%	11.65%	+3.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.63%	11.65%	+3.98%

FEOE vs. USFE - Expense Ratio Comparison

FEOE has a 0.50% expense ratio, which is higher than USFE's 0.45% expense ratio.

Dividends

FEOE vs. USFE - Dividend Comparison

FEOE's dividend yield for the trailing twelve months is around 1.37%, while USFE has not paid dividends to shareholders.

Position	TTM	2025
FEOE First Eagle Overseas Equity ETF	1.37%	1.53%
USFE First Eagle US Equity ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEOE and USFE in my portfolio?

FEOE and USFE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEOE or USFE?

On fees, USFE is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEOE or USFE?

USFE is cheaper with a 0.45% expense ratio, compared with 0.50% for FEOE.

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

FEOE has the higher dividend yield at 1.37%, compared with 0.00% for USFE.

What is the main difference between FEOE and USFE?

FEOE is categorized as Foreign Large Cap Equities, while USFE is Large Cap Value Equities. Their fees differ too: 0.50% for FEOE and 0.45% for USFE.