FPXE.L vs. FPX.L
FPXE.L (First Trust IPOX Europe Equity Opportunities UCITS ETF) and FPX.L (First Trust US IPO Index UCITS ETF) are both exchange-traded funds - FPXE.L is a Europe Equities fund tracking the First Trust IPOX Europe Equity Opportunities UCITS ETF, while FPX.L is a Large Cap Growth Equities fund tracking the Russell 1000 Growth TR USD. Both are passively managed. Over the past 5 years, FPXE.L returned 3.93%/yr vs 9.68%/yr for FPX.L. A 0.69 correlation means they provide meaningful diversification when combined.
Performance
FPXE.L vs. FPX.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 FPX.L's 12.83% 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*
- —
FPX.L
- 1D
- -3.38%
- 1M
- -5.92%
- 6M
- 11.57%
- YTD
- 12.83%
- 1Y
- 27.99%
- 3Y*
- 25.41%
- 5Y*
- 9.68%
- 10Y*
- 13.58%
FPXE.L vs. FPX.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% |
FPX.L First Trust US IPO Index UCITS ETF | 12.83% | 26.94% | 27.65% | 16.72% | -28.22% | 2.29% |
Correlation
The correlation between FPXE.L and FPX.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2021 | 0.69 |
The correlation between FPXE.L and FPX.L has been stable across timeframes, ranging from 0.66 to 0.70 - a consistent structural relationship.
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Return for Risk
FPXE.L vs. FPX.L — Risk / Return Rank
FPXE.L
FPX.L
FPXE.L vs. FPX.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 First Trust US IPO Index UCITS ETF (FPX.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 | FPX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.20 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 2.29 | -1.55 |
| Martin ratioReturn relative to average drawdown | 2.17 | 6.85 | -4.68 |
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Drawdowns
FPXE.L vs. FPX.L - Drawdown Comparison
The maximum FPXE.L drawdown since its inception was -38.82%, smaller than the maximum FPX.L drawdown of -46.68%. Use the drawdown chart below to compare losses from any high point for FPXE.L and FPX.L.
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Drawdown Indicators
| FPXE.L | FPX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.82% | -46.68% | +7.86% |
Max Drawdown (1Y)Largest decline over 1 year | -9.55% | -12.19% | +2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -21.19% | -32.16% | +10.97% |
Max Drawdown (5Y)Largest decline over 5 years | -37.41% | -36.97% | -0.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.97% | — |
Current DrawdownCurrent decline from peak | -9.22% | -9.89% | +0.67% |
Average DrawdownAverage peak-to-trough decline | -17.11% | -15.43% | -1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 4.08% | -0.84% |
Volatility
FPXE.L vs. FPX.L - Volatility Comparison
The current volatility for First Trust IPOX Europe Equity Opportunities UCITS ETF (FPXE.L) is 6.06%, while First Trust US IPO Index UCITS ETF (FPX.L) has a volatility of 9.12%. This indicates that FPXE.L experiences smaller price fluctuations and is considered to be less risky than FPX.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 | FPX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.06% | 9.12% | -3.06% |
Volatility (6M)Calculated over the trailing 6-month period | 15.30% | 17.04% | -1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.47% | 24.48% | -7.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.50% | 24.75% | -6.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 22.59% | -3.30% |
Dividends
FPXE.L vs. FPX.L - Dividend Comparison
Neither FPXE.L nor FPX.L has paid dividends to shareholders.
Frequently Asked Questions
FPXE.L and FPX.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPXE.L is categorized as Europe Equities, while FPX.L is Large Cap Growth Equities. FPXE.L tracks First Trust IPOX Europe Equity Opportunities UCITS ETF, while FPX.L tracks Russell 1000 Growth TR USD.
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