FPX vs. BSV

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust US Equity Opportunities ETF (FPX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV).

FPX and BSV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FPX is a passively managed fund by First Trust that tracks the performance of the IPOX-100 U.S. Index. It was launched on Apr 12, 2006. BSV is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. 1–5 Year Government/Credit Float Adjusted Index. It was launched on Apr 3, 2007. Both FPX and BSV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FPX vs. BSV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust US Equity Opportunities ETF (FPX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). The values are adjusted to include any dividend payments, if applicable.

FPX vs. BSV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPX First Trust US Equity Opportunities ETF	-2.88%	37.62%	24.75%	22.26%	-35.11%	3.69%	47.89%	30.37%	-8.35%	27.03%
BSV Vanguard Short-Term Bond Index Fund ETF Shares	0.13%	6.00%	3.78%	4.90%	-5.49%	-1.09%	4.70%	4.98%	1.34%	1.20%

Returns By Period

In the year-to-date period, FPX achieves a -2.88% return, which is significantly lower than BSV's 0.13% return. Over the past 10 years, FPX has outperformed BSV with an annualized return of 12.79%, while BSV has yielded a comparatively lower 1.97% annualized return.

FPX

• 1D: 4.38%
• 1M: -4.68%
• YTD: -2.88%
• 6M: -4.25%
• 1Y: 42.94%
• 3Y*: 23.97%
• 5Y*: 5.98%
• 10Y*: 12.79%

BSV

• 1D: 0.14%
• 1M: -0.78%
• YTD: 0.13%
• 6M: 1.33%
• 1Y: 4.13%
• 3Y*: 4.27%
• 5Y*: 1.68%
• 10Y*: 1.97%

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

FPX vs. BSV - Expense Ratio Comparison

FPX has a 0.57% expense ratio, which is higher than BSV's 0.03% expense ratio.

FPX

First Trust US Equity Opportunities ETF

BSV

Vanguard Short-Term Bond Index Fund ETF Shares

Return for Risk

FPX vs. BSV — Risk / Return Rank

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

FPX

FPX Risk / Return Rank: 83
FPX Sharpe Ratio Rank: 81
FPX Sortino Ratio Rank: 81
FPX Omega Ratio Rank: 76
FPX Calmar Ratio Rank: 90
FPX Martin Ratio Rank: 87

BSV

BSV Risk / Return Rank: 93
BSV Sharpe Ratio Rank: 93
BSV Sortino Ratio Rank: 96
BSV Omega Ratio Rank: 93
BSV Calmar Ratio Rank: 92
BSV Martin Ratio Rank: 92

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.

FPX vs. BSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust US Equity Opportunities ETF (FPX) and Vanguard Short-Term Bond Index Fund ETF Shares (BSV). 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.

	FPX	BSV	Difference
Sharpe ratio Return per unit of total volatility	1.47	2.08	-0.61
Sortino ratio Return per unit of downside risk	2.04	3.31	-1.28
Omega ratio Gain probability vs. loss probability	1.28	1.41	-0.13
Calmar ratio Return relative to maximum drawdown	2.99	3.25	-0.26
Martin ratio Return relative to average drawdown	10.16	12.45	-2.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPX vs. BSV - Sharpe Ratio Comparison

The current FPX Sharpe Ratio is 1.47, which is comparable to the BSV Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of FPX and BSV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FPX	BSV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.47	2.08	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.62	-0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.83	-0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.86	-0.33

Correlation

The correlation between FPX and BSV is -0.11. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

FPX vs. BSV - Dividend Comparison

FPX's dividend yield for the trailing twelve months is around 0.59%, less than BSV's 3.90% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPX First Trust US Equity Opportunities ETF	0.59%	0.53%	0.09%	0.27%	1.08%	0.14%	0.28%	0.67%	0.88%	0.68%	0.77%	0.62%
BSV Vanguard Short-Term Bond Index Fund ETF Shares	3.90%	3.83%	3.38%	2.46%	1.50%	1.45%	1.79%	2.29%	1.99%	1.65%	1.48%	1.40%

Drawdowns

FPX vs. BSV - Drawdown Comparison

The maximum FPX drawdown since its inception was -56.29%, which is greater than BSV's maximum drawdown of -8.54%. Use the drawdown chart below to compare losses from any high point for FPX and BSV.

Drawdown Indicators

	FPX	BSV	Difference
Max Drawdown Largest peak-to-trough decline	-56.29%	-8.54%	-47.75%
Max Drawdown (1Y) Largest decline over 1 year	-14.19%	-1.29%	-12.90%
Max Drawdown (5Y) Largest decline over 5 years	-43.14%	-8.54%	-34.60%
Max Drawdown (10Y) Largest decline over 10 years	-43.14%	-8.54%	-34.60%
Current Drawdown Current decline from peak	-8.22%	-0.78%	-7.44%
Average Drawdown Average peak-to-trough decline	-11.43%	-0.98%	-10.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.18%	0.34%	+3.84%

Volatility

FPX vs. BSV - Volatility Comparison

First Trust US Equity Opportunities ETF (FPX) has a higher volatility of 9.13% compared to Vanguard Short-Term Bond Index Fund ETF Shares (BSV) at 0.77%. This indicates that FPX's price experiences larger fluctuations and is considered to be riskier than BSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPX	BSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.13%	0.77%	+8.36%
Volatility (6M) Calculated over the trailing 6-month period	18.62%	1.19%	+17.43%
Volatility (1Y) Calculated over the trailing 1-year period	29.34%	2.00%	+27.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.54%	2.71%	+23.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.17%	2.37%	+21.80%