FPXE vs. BBEU

Last updated Jul 14, 2026

FPXE (First Trust IPOX Europe Equity Opportunities ETF) and BBEU (JPMorgan BetaBuilders Europe ETF) are both Europe Equities funds - FPXE tracks the IPOX 100 Europe Index while BBEU tracks the Morningstar Developed Europe Target Market Exposure Index. Both are passively managed. Over the past 5 years, FPXE returned 3.50%/yr vs 9.34%/yr for BBEU. A 0.73 correlation means they provide meaningful diversification when combined. FPXE charges 0.70%/yr vs 0.09%/yr for BBEU.

Performance

FPXE vs. BBEU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust IPOX Europe Equity Opportunities ETF (FPXE) and JPMorgan BetaBuilders Europe ETF (BBEU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FPXE having a 7.36% return and BBEU slightly lower at 7.09%.

FPXE

• 1D: -1.94%
• 1M: -5.89%
• 6M: 4.97%
• YTD: 7.36%
• 1Y: 8.32%
• 3Y*: 16.52%
• 5Y*: 3.50%
• 10Y*: —

BBEU

• 1D: -0.82%
• 1M: -0.56%
• 6M: 3.92%
• YTD: 7.09%
• 1Y: 17.17%
• 3Y*: 15.46%
• 5Y*: 9.34%
• 10Y*: —

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

FPXE vs. BBEU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FPXE First Trust IPOX Europe Equity Opportunities ETF	7.36%	24.46%	16.31%	14.45%	-35.13%	9.00%	35.00%	34.55%	-14.89%
BBEU JPMorgan BetaBuilders Europe ETF	7.09%	36.37%	1.85%	20.31%	-14.72%	17.50%	5.00%	23.96%	-11.22%

Correlation

The correlation between FPXE and BBEU is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018	0.73

The correlation between FPXE and BBEU has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.

FPXE vs. BBEU - Sectors Allocation Comparison

Sectors	FPXE	BBEU
Industrials	22.4%	19.2%
Healthcare	19.0%	13.1%
Technology	16.9%	9.4%
Consumer Cyclical	13.2%	6.4%
Financial Services	11.3%	24.0%
Basic Materials	8.3%	5.8%
Communication Services	2.3%	3.0%
Utilities	2.3%	4.6%
Energy	1.7%	5.3%
Real Estate	1.6%	0.5%
Consumer Defensive	0.9%	8.8%

Return for Risk

FPXE vs. BBEU — Risk / Return Rank

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

FPXE

FPXE Risk / Return Rank: 18
FPXE Sharpe Ratio Rank: 17
FPXE Sortino Ratio Rank: 17
FPXE Omega Ratio Rank: 16
FPXE Calmar Ratio Rank: 20
FPXE Martin Ratio Rank: 22

BBEU

BBEU Risk / Return Rank: 37
BBEU Sharpe Ratio Rank: 37
BBEU Sortino Ratio Rank: 38
BBEU Omega Ratio Rank: 35
BBEU Calmar Ratio Rank: 35
BBEU Martin Ratio Rank: 41

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.

FPXE vs. BBEU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust IPOX Europe Equity Opportunities ETF (FPXE) and JPMorgan BetaBuilders Europe ETF (BBEU). 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	BBEU	Difference
Sharpe ratio: Return per unit of total volatility	0.42	1.08	-0.66
Sortino ratio: Return per unit of downside risk	0.75	1.61	-0.86
Omega ratio: Gain probability vs. loss probability	1.09	1.19	-0.10
Calmar ratio: Return relative to maximum drawdown	0.74	1.41	-0.67
Martin ratio: Return relative to average drawdown	2.17	5.22	-3.05

FPXE vs. BBEU - Sharpe Ratio Comparison

The current FPXE Sharpe Ratio is 0.42, which is lower than the BBEU Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of FPXE and BBEU, 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

FPXE vs. BBEU - Drawdown Comparison

The maximum FPXE drawdown since its inception was -49.55%, which is greater than BBEU's maximum drawdown of -36.27%. Use the drawdown chart below to compare losses from any high point for FPXE and BBEU.

Drawdown Indicators

	FPXE	BBEU	Difference
Max Drawdown Largest peak-to-trough decline	-49.55%	-36.27%	-13.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	-12.23%	+0.90%
Max Drawdown (3Y) Largest decline over 3 years	-19.28%	-14.23%	-5.05%
Max Drawdown (5Y) Largest decline over 5 years	-49.55%	-31.08%	-18.47%
Current Drawdown Current decline from peak	-7.32%	-2.30%	-5.02%
Average Drawdown Average peak-to-trough decline	-14.54%	-6.08%	-8.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	3.30%	+0.54%

Volatility

FPXE vs. BBEU - Volatility Comparison

First Trust IPOX Europe Equity Opportunities ETF (FPXE) has a higher volatility of 7.73% compared to JPMorgan BetaBuilders Europe ETF (BBEU) at 4.81%. This indicates that FPXE's price experiences larger fluctuations and is considered to be riskier than BBEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPXE	BBEU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.73%	4.81%	+2.92%
Volatility (6M) Calculated over the trailing 6-month period	17.74%	13.81%	+3.93%
Volatility (1Y) Calculated over the trailing 1-year period	19.81%	16.01%	+3.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.99%	17.57%	+4.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.23%	19.29%	+2.94%

FPXE vs. BBEU - Expense Ratio Comparison

FPXE has a 0.70% expense ratio, which is higher than BBEU's 0.09% expense ratio.

Dividends

FPXE vs. BBEU - Dividend Comparison

FPXE's dividend yield for the trailing twelve months is around 1.43%, less than BBEU's 2.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BBEU JPMorgan BetaBuilders Europe ETF	2.96%	2.83%	4.16%	2.94%	4.72%	2.63%	2.29%	3.24%	0.49%
FPXE First Trust IPOX Europe Equity Opportunities ETF	1.43%	1.15%	2.10%	2.03%	1.81%	0.47%	1.35%	2.06%	0.00%

Frequently Asked Questions

Can I hold both FPXE and BBEU in my portfolio?

FPXE and BBEU have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPXE or BBEU?

FPXE has higher volatility (7.73%) compared to BBEU (4.81%). In terms of maximum drawdown, FPXE dropped -49.55% vs BBEU's -36.27%.

Which ETF is better, FPXE or BBEU?

On 5-year performance, BBEU leads with 9.34% vs 3.50% for FPXE. On fees, BBEU is cheaper at 0.09% per year. On volatility, BBEU has been the lower-risk option at 4.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPXE or BBEU?

Over the 5-year period, BBEU has performed better with a 9.34% return vs 3.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPXE or BBEU?

BBEU is cheaper with a 0.09% expense ratio, compared with 0.70% for FPXE.

Which ETF pays a higher dividend yield, FPXE or BBEU?

BBEU has the higher dividend yield at 2.96%, compared with 1.43% for FPXE.

What is the main difference between FPXE and BBEU?

FPXE tracks IPOX 100 Europe Index, while BBEU tracks Morningstar Developed Europe Target Market Exposure Index. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.70% for FPXE and 0.09% for BBEU.

Which has better risk-adjusted returns?

BBEU currently has the higher Sharpe Ratio (1.08 vs 0.42), 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.