FPXE.L vs. CEUR.L
FPXE.L (First Trust IPOX Europe Equity Opportunities UCITS ETF) and CEUR.L (Amundi MSCI Europe) are both Europe Equities funds - FPXE.L tracks the First Trust IPOX Europe Equity Opportunities UCITS ETF while CEUR.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, FPXE.L returned 3.93%/yr vs 9.63%/yr for CEUR.L. A 0.77 correlation means they provide meaningful diversification when combined.
Performance
FPXE.L vs. CEUR.L - Performance Comparison
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Returns By Period
In the year-to-date period, FPXE.L achieves a 7.25% return, which is significantly lower than CEUR.L's 7.94% return.
FPXE.L
- 1D
- -1.63%
- 1M
- -7.21%
- 6M
- 5.78%
- YTD
- 7.25%
- 1Y
- 7.04%
- 3Y*
- 15.00%
- 5Y*
- 3.93%
- 10Y*
- —
CEUR.L
- 1D
- -0.63%
- 1M
- -0.52%
- 6M
- 5.51%
- YTD
- 7.94%
- 1Y
- 18.84%
- 3Y*
- 14.28%
- 5Y*
- 9.63%
- 10Y*
- 7.46%
FPXE.L vs. CEUR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FPXE.L First Trust IPOX Europe Equity Opportunities UCITS ETF | 7.25% | 14.93% | 17.51% | 8.62% | -27.20% | -6.75% |
CEUR.L Amundi MSCI Europe | 7.94% | 24.46% | 4.90% | 12.93% | -5.96% | 5.90% |
Correlation
The correlation between FPXE.L and CEUR.L is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2021 | 0.77 |
The correlation between FPXE.L and CEUR.L has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.
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Return for Risk
FPXE.L vs. CEUR.L — Risk / Return Rank
FPXE.L
CEUR.L
FPXE.L vs. CEUR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust IPOX Europe Equity Opportunities UCITS ETF (FPXE.L) and Amundi MSCI Europe (CEUR.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.
| FPXE.L | CEUR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.28 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 1.70 | -0.96 |
| Martin ratioReturn relative to average drawdown | 2.17 | 5.91 | -3.74 |
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Drawdowns
FPXE.L vs. CEUR.L - Drawdown Comparison
The maximum FPXE.L drawdown since its inception was -38.82%, smaller than the maximum CEUR.L drawdown of -42.56%. Use the drawdown chart below to compare losses from any high point for FPXE.L and CEUR.L.
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Drawdown Indicators
| FPXE.L | CEUR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.82% | -42.56% | +3.74% |
Max Drawdown (1Y)Largest decline over 1 year | -9.55% | -11.05% | +1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -21.19% | -12.66% | -8.53% |
Max Drawdown (5Y)Largest decline over 5 years | -37.41% | -17.85% | -19.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.11% | — |
Current DrawdownCurrent decline from peak | -9.22% | -2.60% | -6.62% |
Average DrawdownAverage peak-to-trough decline | -17.11% | -7.48% | -9.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 3.18% | +0.06% |
Volatility
FPXE.L vs. CEUR.L - Volatility Comparison
First Trust IPOX Europe Equity Opportunities UCITS ETF (FPXE.L) has a higher volatility of 6.06% compared to Amundi MSCI Europe (CEUR.L) at 3.37%. This indicates that FPXE.L's price experiences larger fluctuations and is considered to be riskier than CEUR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPXE.L | CEUR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.06% | 3.37% | +2.69% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 10.99% | +4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.47% | 12.76% | +4.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.50% | 13.93% | +4.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 15.20% | +4.09% |
Dividends
FPXE.L vs. CEUR.L - Dividend Comparison
Neither FPXE.L nor CEUR.L has paid dividends to shareholders.
Frequently Asked Questions
FPXE.L and CEUR.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPXE.L tracks First Trust IPOX Europe Equity Opportunities UCITS ETF, while CEUR.L tracks MSCI Europe NR EUR. They also come from different issuers: First Trust and Amundi.
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