FPX vs. QARP

Last updated Jul 17, 2026

FPX (First Trust US Equity Opportunities ETF) and QARP (Xtrackers Russell 1000 US Quality at a Reasonable Price ETF) are both Large Cap Growth Equities funds - FPX tracks the IPOX-100 U.S. Index while QARP tracks the Russell 1000 2Qual/Val 5% Capped Factor Index. Both are passively managed. Over the past 5 years, FPX returned 9.26%/yr vs 12.09%/yr for QARP. A 0.73 correlation means they provide meaningful diversification when combined. FPX charges 0.57%/yr vs 0.19%/yr for QARP.

Performance

FPX vs. QARP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust US Equity Opportunities ETF (FPX) and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FPX having a 12.24% return and QARP slightly higher at 12.78%.

FPX

• 1D: -2.77%
• 1M: -6.81%
• 6M: 9.30%
• YTD: 12.24%
• 1Y: 26.24%
• 3Y*: 25.79%
• 5Y*: 9.26%
• 10Y*: 13.88%

QARP

• 1D: 0.71%
• 1M: 1.10%
• 6M: 9.34%
• YTD: 12.78%
• 1Y: 25.00%
• 3Y*: 17.33%
• 5Y*: 12.09%
• 10Y*: —

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

FPX vs. QARP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FPX First Trust US Equity Opportunities ETF	12.24%	37.62%	24.75%	22.26%	-35.11%	3.69%	47.89%	30.37%	-8.66%
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	12.78%	13.99%	18.94%	23.03%	-14.62%	31.82%	14.83%	30.70%	-5.53%

Correlation

The correlation between FPX and QARP is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 5, 2018	0.73

The correlation between FPX and QARP shifts across timeframes, from 0.59 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

FPX vs. QARP - Sectors Allocation Comparison

Sectors	FPX	QARP
Healthcare	22.5%	13.9%
Technology	22.5%	23.5%
Industrials	12.7%	8.5%
Financial Services	8.8%	12.1%
Communication Services	6.9%	11.3%
Consumer Cyclical	6.9%	9.6%
Energy	4.9%	5.8%
Consumer Defensive	3.9%	9.6%
Real Estate	3.9%	1.0%
Basic Materials	2.9%	2.3%
Utilities	2.0%	2.0%

Return for Risk

FPX vs. QARP — Risk / Return Rank

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

FPX

FPX Risk / Return Rank: 40
FPX Sharpe Ratio Rank: 34
FPX Sortino Ratio Rank: 33
FPX Omega Ratio Rank: 32
FPX Calmar Ratio Rank: 52
FPX Martin Ratio Rank: 48

QARP

QARP Risk / Return Rank: 87
QARP Sharpe Ratio Rank: 90
QARP Sortino Ratio Rank: 89
QARP Omega Ratio Rank: 88
QARP Calmar Ratio Rank: 82
QARP Martin Ratio Rank: 89

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. QARP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust US Equity Opportunities ETF (FPX) and Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP). 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	QARP	Difference
Sharpe ratio: Return per unit of total volatility	1.03	2.38	-1.34
Sortino ratio: Return per unit of downside risk	1.48	3.34	-1.86
Omega ratio: Gain probability vs. loss probability	1.18	1.43	-0.25
Calmar ratio: Return relative to maximum drawdown	2.15	3.46	-1.31
Martin ratio: Return relative to average drawdown	6.39	15.38	-8.99

FPX vs. QARP - Sharpe Ratio Comparison

The current FPX Sharpe Ratio is 1.03, which is lower than the QARP Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of FPX and QARP, 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

FPX vs. QARP - Drawdown Comparison

The maximum FPX drawdown since its inception was -56.29%, which is greater than QARP's maximum drawdown of -35.44%. Use the drawdown chart below to compare losses from any high point for FPX and QARP.

Drawdown Indicators

	FPX	QARP	Difference
Max Drawdown Largest peak-to-trough decline	-56.29%	-35.44%	-20.85%
Max Drawdown (1Y) Largest decline over 1 year	-12.28%	-7.26%	-5.02%
Max Drawdown (3Y) Largest decline over 3 years	-30.88%	-15.65%	-15.23%
Max Drawdown (5Y) Largest decline over 5 years	-43.14%	-22.75%	-20.39%
Max Drawdown (10Y) Largest decline over 10 years	-43.14%	—	—
Current Drawdown Current decline from peak	-10.99%	0.00%	-10.99%
Average Drawdown Average peak-to-trough decline	-11.29%	-4.39%	-6.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	1.63%	+2.49%

Volatility

FPX vs. QARP - Volatility Comparison

First Trust US Equity Opportunities ETF (FPX) has a higher volatility of 10.01% compared to Xtrackers Russell 1000 US Quality at a Reasonable Price ETF (QARP) at 2.76%. This indicates that FPX's price experiences larger fluctuations and is considered to be riskier than QARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPX	QARP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.01%	2.76%	+7.25%
Volatility (6M) Calculated over the trailing 6-month period	19.77%	8.22%	+11.55%
Volatility (1Y) Calculated over the trailing 1-year period	25.51%	10.58%	+14.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.99%	15.54%	+11.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.49%	19.55%	+4.94%

FPX vs. QARP - Expense Ratio Comparison

FPX has a 0.57% expense ratio, which is higher than QARP's 0.19% expense ratio.

Dividends

FPX vs. QARP - Dividend Comparison

FPX's dividend yield for the trailing twelve months is around 0.46%, less than QARP's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPX First Trust US Equity Opportunities ETF	0.46%	0.53%	0.09%	0.27%	1.08%	0.14%	0.28%	0.67%	0.88%	0.68%	0.77%	0.62%
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	1.02%	1.14%	1.39%	1.28%	1.68%	1.34%	1.61%	1.85%	1.39%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FPX and QARP in my portfolio?

FPX and QARP have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPX or QARP?

FPX has higher volatility (10.01%) compared to QARP (2.76%). In terms of maximum drawdown, FPX dropped -56.29% vs QARP's -35.44%.

Which ETF is better, FPX or QARP?

On 5-year performance, QARP leads with 12.09% vs 9.26% for FPX. On fees, QARP is cheaper at 0.19% per year. On volatility, QARP has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPX or QARP?

Over the 5-year period, QARP has performed better with a 12.09% return vs 9.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPX or QARP?

QARP is cheaper with a 0.19% expense ratio, compared with 0.57% for FPX.

Which ETF pays a higher dividend yield, FPX or QARP?

QARP has the higher dividend yield at 1.02%, compared with 0.46% for FPX.

What is the main difference between FPX and QARP?

FPX tracks IPOX-100 U.S. Index, while QARP tracks Russell 1000 2Qual/Val 5% Capped Factor Index. They also come from different issuers: First Trust and Deutsche Bank. Their fees differ too: 0.57% for FPX and 0.19% for QARP.

Which has better risk-adjusted returns?

QARP currently has the higher Sharpe Ratio (2.38 vs 1.03), 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.