FPXE vs. EUDV

Last updated Aug 4, 2026

FPXE (First Trust IPOX Europe Equity Opportunities ETF) and EUDV (ProShares MSCI Europe Dividend Growers ETF) are both Europe Equities funds - FPXE tracks the IPOX 100 Europe Index while EUDV tracks the MSCI Europe Dividend Masters Index. Both are passively managed. Over the past 5 years, FPXE returned 1.83%/yr vs 1.54%/yr for EUDV. Their 0.69 correlation means they have sometimes moved together and sometimes differently. FPXE charges 0.70%/yr vs 0.55%/yr for EUDV.

Performance

FPXE vs. EUDV - Performance Comparison

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

Returns By Period

In the year-to-date period, FPXE achieves a 5.81% return, which is significantly higher than EUDV's 5.42% return.

FPXE

• 1D: -0.04%
• 1M: -4.51%
• 6M: 1.60%
• YTD: 5.81%
• 1Y: 8.14%
• 3Y*: 16.59%
• 5Y*: 1.83%
• 10Y*: —
• ALL TIME*: 8.67%

EUDV

• 1D: 0.57%
• 1M: 1.23%
• 6M: 2.77%
• YTD: 5.42%
• 1Y: 9.31%
• 3Y*: 8.67%
• 5Y*: 1.54%
• 10Y*: 5.57%
• ALL TIME*: 5.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EUDV ProShares MSCI Europe Dividend Growers ETF	$11.63K	$8.35K	$24.96K
FPXE First Trust IPOX Europe Equity Opportunities ETF	$9.58K	$10.78K	$26.69K

FPXE vs. EUDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FPXE First Trust IPOX Europe Equity Opportunities ETF	5.81%	24.46%	16.31%	14.45%	-35.13%	9.00%	35.00%	34.55%	-14.89%
EUDV ProShares MSCI Europe Dividend Growers ETF	5.42%	14.05%	0.03%	20.41%	-24.87%	19.56%	5.81%	25.89%	-11.11%

Correlation

The correlation between FPXE and EUDV is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018	0.69

The correlation between FPXE and EUDV shifts across timeframes, from 0.64 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

FPXE vs. EUDV - Sectors Allocation Comparison

Sectors	FPXE	EUDV
Technology	20.0%	10.6%
Industrials	19.7%	19.5%
Healthcare	17.3%	18.1%
Financial Services	14.1%	12.3%
Consumer Cyclical	11.8%	-
Basic Materials	7.5%	12.4%
Energy	3.6%	2.2%
Communication Services	2.1%	3.7%
Consumer Defensive	1.9%	11.4%
Utilities	1.5%	9.1%
Real Estate	0.7%	2.8%

Return for Risk

FPXE vs. EUDV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FPXE

FPXE Risk / Return Rank: 21
FPXE Sharpe Ratio Rank: 20
FPXE Sortino Ratio Rank: 20
FPXE Omega Ratio Rank: 20
FPXE Calmar Ratio Rank: 23
FPXE Martin Ratio Rank: 24

EUDV

EUDV Risk / Return Rank: 27
EUDV Sharpe Ratio Rank: 28
EUDV Sortino Ratio Rank: 27
EUDV Omega Ratio Rank: 25
EUDV Calmar Ratio Rank: 27
EUDV Martin Ratio Rank: 29

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FPXE vs. EUDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust IPOX Europe Equity Opportunities ETF (FPXE) and ProShares MSCI Europe Dividend Growers ETF (EUDV). 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	EUDV	Difference
Sharpe ratio: Return per unit of total volatility	0.41	0.67	-0.26
Sortino ratio: Return per unit of downside risk	0.74	1.02	-0.28
Omega ratio: Gain probability vs. loss probability	1.09	1.12	-0.03
Calmar ratio: Return relative to maximum drawdown	0.72	0.88	-0.16
Martin ratio: Return relative to average drawdown	1.88	2.62	-0.73

FPXE vs. EUDV - Sharpe Ratio Comparison

The current FPXE Sharpe Ratio is 0.41, which is lower than the EUDV Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of FPXE and EUDV, 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. EUDV - Drawdown Comparison

The maximum FPXE drawdown since its inception was -49.55%, which is greater than EUDV's maximum drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for FPXE and EUDV.

Drawdown Indicators

	FPXE	EUDV	Difference
Max Drawdown Largest peak-to-trough decline	-49.55%	-37.51%	-12.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	-10.63%	-0.70%
Max Drawdown (3Y) Largest decline over 3 years	-19.28%	-13.69%	-5.59%
Max Drawdown (5Y) Largest decline over 5 years	-49.55%	-37.51%	-12.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.51%	—
Current Drawdown Current decline from peak	-8.65%	-0.71%	-7.94%
Average Drawdown Average peak-to-trough decline	-14.49%	-8.53%	-5.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.33%	3.56%	+0.77%

Volatility

FPXE vs. EUDV - Volatility Comparison

First Trust IPOX Europe Equity Opportunities ETF (FPXE) has a higher volatility of 6.72% compared to ProShares MSCI Europe Dividend Growers ETF (EUDV) at 3.53%. This indicates that FPXE's price experiences larger fluctuations and is considered to be riskier than EUDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPXE	EUDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.72%	3.53%	+3.19%
Volatility (6M) Calculated over the trailing 6-month period	18.04%	11.63%	+6.41%
Volatility (1Y) Calculated over the trailing 1-year period	20.21%	14.07%	+6.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.06%	16.22%	+5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.23%	16.91%	+5.32%

FPXE vs. EUDV - Expense Ratio Comparison

FPXE has a 0.70% expense ratio, which is higher than EUDV's 0.55% expense ratio.

Dividends

FPXE vs. EUDV - Dividend Comparison

FPXE's dividend yield for the trailing twelve months is around 1.45%, less than EUDV's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUDV ProShares MSCI Europe Dividend Growers ETF	2.04%	1.74%	1.92%	1.87%	1.77%	2.30%	1.27%	2.20%	2.22%	2.33%	2.53%	0.37%
FPXE First Trust IPOX Europe Equity Opportunities ETF	1.45%	1.15%	2.10%	2.03%	1.81%	0.47%	1.35%	2.06%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FPXE and EUDV in my portfolio?

FPXE and EUDV have a correlation of 0.64, 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 EUDV?

FPXE has higher volatility (6.72%) compared to EUDV (3.53%). In terms of maximum drawdown, FPXE dropped -49.55% vs EUDV's -37.51%.

Which ETF is better, FPXE or EUDV?

On 5-year performance, FPXE leads with 1.83% vs 1.54% for EUDV. On fees, EUDV is cheaper at 0.55% per year. On volatility, EUDV has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPXE or EUDV?

Over the 5-year period, FPXE has performed better with a 1.83% return vs 1.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPXE or EUDV?

EUDV is cheaper with a 0.55% expense ratio, compared with 0.70% for FPXE.

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

EUDV has the higher dividend yield at 2.04%, compared with 1.45% for FPXE.

What is the main difference between FPXE and EUDV?

FPXE tracks IPOX 100 Europe Index, while EUDV tracks MSCI Europe Dividend Masters Index. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.70% for FPXE and 0.55% for EUDV.

Which has better risk-adjusted returns?

EUDV currently has the higher Sharpe Ratio (0.67 vs 0.41), 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.