FPX vs. SPY
Compare and contrast key facts about First Trust US Equity Opportunities ETF (FPX) and SPDR S&P 500 ETF (SPY).
FPX and SPY 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. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both FPX and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FPX or SPY.
Key characteristics
| FPX | SPY | |
|---|---|---|
| YTD Return | 29.42% | 26.77% |
| 1Y Return | 50.60% | 37.43% |
| 3Y Return (Ann) | -2.27% | 10.15% |
| 5Y Return (Ann) | 10.27% | 15.86% |
| 10Y Return (Ann) | 10.36% | 13.33% |
| Sharpe Ratio | 2.37 | 3.06 |
| Sortino Ratio | 3.18 | 4.08 |
| Omega Ratio | 1.40 | 1.58 |
| Calmar Ratio | 1.33 | 4.44 |
| Martin Ratio | 11.46 | 20.11 |
| Ulcer Index | 4.46% | 1.85% |
| Daily Std Dev | 21.60% | 12.18% |
| Max Drawdown | -56.29% | -55.19% |
| Current Drawdown | -7.53% | -0.31% |
Correlation
The correlation between FPX and SPY is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FPX vs. SPY - Performance Comparison
In the year-to-date period, FPX achieves a 29.42% return, which is significantly higher than SPY's 26.77% return. Over the past 10 years, FPX has underperformed SPY with an annualized return of 10.36%, while SPY has yielded a comparatively higher 13.33% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FPX vs. SPY - Expense Ratio Comparison
FPX has a 0.57% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
FPX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust US Equity Opportunities ETF (FPX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
FPX vs. SPY - Dividend Comparison
FPX's dividend yield for the trailing twelve months is around 0.02%, less than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPX First Trust US Equity Opportunities ETF | 0.02% | 0.27% | 1.08% | 0.14% | 0.28% | 0.67% | 0.88% | 0.68% | 0.77% | 0.62% | 0.79% | 0.51% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
FPX vs. SPY - Drawdown Comparison
The maximum FPX drawdown since its inception was -56.29%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FPX and SPY. For additional features, visit the drawdowns tool.
Volatility
FPX vs. SPY - Volatility Comparison
First Trust US Equity Opportunities ETF (FPX) has a higher volatility of 7.11% compared to SPDR S&P 500 ETF (SPY) at 3.88%. This indicates that FPX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.