FFGX vs. FPXI

Last updated Jun 4, 2026

FFGX (Fidelity Fundamental Global ex-U.S. ETF) and FPXI (First Trust International Equity Opportunities ETF) are both Foreign Large Cap Equities funds. FFGX is actively managed, while FPXI is passively managed. Over the past year, FFGX returned 25.28% vs 49.62% for FPXI. Their correlation of 0.84 suggests significant overlap in exposure. FFGX charges 0.55%/yr vs 0.70%/yr for FPXI.

Performance

FFGX vs. FPXI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Fundamental Global ex-U.S. ETF (FFGX) and First Trust International Equity Opportunities ETF (FPXI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFGX achieves a 14.06% return, which is significantly lower than FPXI's 34.41% return.

FFGX

• 1D: -0.92%
• 1M: 5.58%
• YTD: 14.06%
• 6M: 16.61%
• 1Y: 25.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FPXI

• 1D: -0.36%
• 1M: 13.37%
• YTD: 34.41%
• 6M: 33.60%
• 1Y: 49.62%
• 3Y*: 27.44%
• 5Y*: 4.04%
• 10Y*: 12.89%

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

FFGX vs. FPXI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FFGX Fidelity Fundamental Global ex-U.S. ETF	14.06%	27.85%	-2.87%
FPXI First Trust International Equity Opportunities ETF	34.41%	26.37%	-3.78%

Correlation

The correlation between FFGX and FPXI is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Nov 22, 2024	0.84

The correlation between FFGX and FPXI has been stable across timeframes, ranging from 0.84 to 0.85 - a consistent structural relationship.

Return for Risk

FFGX vs. FPXI — Risk / Return Rank

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

FFGX

FFGX Risk / Return Rank: 42
FFGX Sharpe Ratio Rank: 41
FFGX Sortino Ratio Rank: 40
FFGX Omega Ratio Rank: 41
FFGX Calmar Ratio Rank: 40
FFGX Martin Ratio Rank: 47

FPXI

FPXI Risk / Return Rank: 63
FPXI Sharpe Ratio Rank: 63
FPXI Sortino Ratio Rank: 61
FPXI Omega Ratio Rank: 58
FPXI Calmar Ratio Rank: 68
FPXI Martin Ratio Rank: 64

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.

FFGX vs. FPXI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Fundamental Global ex-U.S. ETF (FFGX) and First Trust International Equity Opportunities ETF (FPXI). 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.

	FFGX	FPXI	Difference
Sharpe ratio: Return per unit of total volatility	1.43	2.13	-0.70
Sortino ratio: Return per unit of downside risk	2.07	2.89	-0.82
Omega ratio: Gain probability vs. loss probability	1.27	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	1.97	3.38	-1.40
Martin ratio: Return relative to average drawdown	7.79	11.66	-3.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFGX vs. FPXI - Sharpe Ratio Comparison

The current FFGX Sharpe Ratio is 1.43, which is lower than the FPXI Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of FFGX and FPXI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FFGX	FPXI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.43	2.13	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.19	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.36	0.48	+0.88

Drawdowns

FFGX vs. FPXI - Drawdown Comparison

The maximum FFGX drawdown since its inception was -14.79%, smaller than the maximum FPXI drawdown of -55.78%. Use the drawdown chart below to compare losses from any high point for FFGX and FPXI.

Drawdown Indicators

	FFGX	FPXI	Difference
Max Drawdown Largest peak-to-trough decline	-14.79%	-55.78%	+40.99%
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	-14.77%	+1.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.58%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-50.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-55.78%	—
Current Drawdown Current decline from peak	-0.92%	-0.36%	-0.56%
Average Drawdown Average peak-to-trough decline	-2.11%	-20.26%	+18.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	4.27%	-1.02%

Volatility

FFGX vs. FPXI - Volatility Comparison

The current volatility for Fidelity Fundamental Global ex-U.S. ETF (FFGX) is 6.77%, while First Trust International Equity Opportunities ETF (FPXI) has a volatility of 8.88%. This indicates that FFGX experiences smaller price fluctuations and is considered to be less risky than FPXI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFGX	FPXI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.77%	8.88%	-2.11%
Volatility (6M) Calculated over the trailing 6-month period	15.62%	19.74%	-4.12%
Volatility (1Y) Calculated over the trailing 1-year period	17.76%	23.42%	-5.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	21.57%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.06%	21.18%	-2.12%

FFGX vs. FPXI - Expense Ratio Comparison

FFGX has a 0.55% expense ratio, which is lower than FPXI's 0.70% expense ratio.

Dividends

FFGX vs. FPXI - Dividend Comparison

FFGX's dividend yield for the trailing twelve months is around 1.40%, more than FPXI's 0.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFGX Fidelity Fundamental Global ex-U.S. ETF	1.40%	1.62%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FPXI First Trust International Equity Opportunities ETF	0.59%	0.70%	0.93%	0.71%	1.13%	0.71%	0.18%	0.67%	1.75%	0.75%	2.09%	1.34%

Frequently Asked Questions

Can I hold both FFGX and FPXI in my portfolio?

FFGX and FPXI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFGX or FPXI?

FPXI has higher volatility (8.88%) compared to FFGX (6.77%). In terms of maximum drawdown, FFGX dropped -14.79% vs FPXI's -55.78%.

Which ETF is better, FFGX or FPXI?

On 1-year performance, FPXI leads with 49.62% vs 25.28% for FFGX. On fees, FFGX is cheaper at 0.55% per year. On volatility, FFGX has been the lower-risk option at 6.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFGX or FPXI?

Over the 1-year period, FPXI has performed better with a 49.62% return vs 25.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFGX or FPXI?

FFGX is cheaper with a 0.55% expense ratio, compared with 0.70% for FPXI.

Which ETF pays a higher dividend yield, FFGX or FPXI?

FFGX has the higher dividend yield at 1.40%, compared with 0.59% for FPXI.

What is the main difference between FFGX and FPXI?

They also come from different issuers: Fidelity and First Trust. Their fees differ too: 0.55% for FFGX and 0.70% for FPXI.

Which has better risk-adjusted returns?

FPXI currently has the higher Sharpe Ratio (2.13 vs 1.43), 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.