FPX.L vs. R1GR.L
FPX.L (First Trust US IPO Index UCITS ETF) and R1GR.L (iShares Russell 1000 Growth UCITS ETF USD (Acc)) are both Large Cap Growth Equities funds - FPX.L tracks the Russell 1000 Growth TR USD while R1GR.L tracks the Russell 1000 Growth UCITS 30/18 Capped Net Tax 15% Index. Both are passively managed. Over the past 3 years, FPX.L returned 23.91%/yr vs 18.12%/yr for R1GR.L. A 0.71 correlation means they provide meaningful diversification when combined. FPX.L charges 0.65%/yr vs 0.18%/yr for R1GR.L.
Performance
FPX.L vs. R1GR.L - Performance Comparison
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Different Trading Currencies
FPX.L is traded in GBp, while R1GR.L is traded in USD. To make them comparable, the R1GR.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, FPX.L achieves a 10.96% return, which is significantly higher than R1GR.L's 0.21% return.
FPX.L
- 1D
- -0.76%
- 1M
- -7.81%
- 6M
- 7.74%
- YTD
- 10.96%
- 1Y
- 24.27%
- 3Y*
- 23.91%
- 5Y*
- 9.31%
- 10Y*
- 13.24%
R1GR.L
- 1D
- -2.34%
- 1M
- -4.49%
- 6M
- 0.53%
- YTD
- 0.21%
- 1Y
- 9.57%
- 3Y*
- 18.12%
- 5Y*
- —
- 10Y*
- —
FPX.L vs. R1GR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FPX.L First Trust US IPO Index UCITS ETF | 10.96% | 26.94% | 27.65% | 9.56% |
R1GR.L iShares Russell 1000 Growth UCITS ETF USD (Acc) | 0.21% | 9.03% | 36.52% | 10.63% |
Correlation
The correlation between FPX.L and R1GR.L is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.71 |
The correlation between FPX.L and R1GR.L has been stable across timeframes, ranging from 0.71 to 0.72 - a consistent structural relationship.
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Return for Risk
FPX.L vs. R1GR.L — Risk / Return Rank
FPX.L
R1GR.L
FPX.L vs. R1GR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust US IPO Index UCITS ETF (FPX.L) and iShares Russell 1000 Growth UCITS ETF USD (Acc) (R1GR.L). 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.
| FPX.L | R1GR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.42 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.11 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 0.61 | +1.38 |
| Martin ratioReturn relative to average drawdown | 5.77 | 1.58 | +4.19 |
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Drawdowns
FPX.L vs. R1GR.L - Drawdown Comparison
The maximum FPX.L drawdown since its inception was -46.68%, which is greater than R1GR.L's maximum drawdown of -25.23%. Use the drawdown chart below to compare losses from any high point for FPX.L and R1GR.L.
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Drawdown Indicators
| FPX.L | R1GR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.68% | -25.23% | -21.45% |
Max Drawdown (1Y)Largest decline over 1 year | -12.19% | -15.75% | +3.56% |
Max Drawdown (3Y)Largest decline over 3 years | -32.16% | -25.23% | -6.93% |
Max Drawdown (5Y)Largest decline over 5 years | -36.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.97% | — | — |
Current DrawdownCurrent decline from peak | -11.38% | -7.40% | -3.98% |
Average DrawdownAverage peak-to-trough decline | -15.43% | -4.41% | -11.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 6.05% | -1.86% |
Volatility
FPX.L vs. R1GR.L - Volatility Comparison
First Trust US IPO Index UCITS ETF (FPX.L) has a higher volatility of 8.81% compared to iShares Russell 1000 Growth UCITS ETF USD (Acc) (R1GR.L) at 6.01%. This indicates that FPX.L's price experiences larger fluctuations and is considered to be riskier than R1GR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPX.L | R1GR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.81% | 6.01% | +2.80% |
Volatility (6M)Calculated over the trailing 6-month period | 16.99% | 12.77% | +4.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.49% | 16.80% | +7.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.74% | 18.16% | +6.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.59% | 18.16% | +4.43% |
FPX.L vs. R1GR.L - Expense Ratio Comparison
FPX.L has a 0.65% expense ratio, which is higher than R1GR.L's 0.18% expense ratio.
Dividends
FPX.L vs. R1GR.L - Dividend Comparison
Neither FPX.L nor R1GR.L has paid dividends to shareholders.
Frequently Asked Questions
FPX.L and R1GR.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, R1GR.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
R1GR.L is cheaper with a 0.18% expense ratio, compared with 0.65% for FPX.L.
FPX.L tracks Russell 1000 Growth TR USD, while R1GR.L tracks Russell 1000 Growth UCITS 30/18 Capped Net Tax 15% Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.65% for FPX.L and 0.18% for R1GR.L.
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