FPXE vs. EUSC

Last updated Jun 24, 2026

FPXE (First Trust IPOX Europe Equity Opportunities ETF) and EUSC (WisdomTree Europe Hedged SmallCap Equity Fund) are both Europe Equities funds - FPXE tracks the IPOX 100 Europe Index while EUSC tracks the WisdomTree Europe Hedged SmallCap Equity Index. Both are passively managed. At a 0.26 correlation, their price movements are largely independent. FPXE charges 0.70%/yr vs 0.58%/yr for EUSC.

Performance

FPXE vs. EUSC - Performance Comparison

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

Returns By Period

FPXE

• 1D: -2.62%
• 1M: -0.37%
• YTD: 12.36%
• 6M: 11.77%
• 1Y: 17.72%
• 3Y*: 21.43%
• 5Y*: 4.98%
• 10Y*: —

EUSC

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FPXE vs. EUSC - Yearly Performance Comparison

	2026 (YTD)
FPXE First Trust IPOX Europe Equity Opportunities ETF	-0.99%
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.18%

Correlation

The correlation between FPXE and EUSC is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.26

FPXE vs. EUSC - Sectors Allocation Comparison

Sectors	FPXE	EUSC
Industrials	22.4%	20.1%
Healthcare	19.0%	2.9%
Technology	16.9%	4.4%
Consumer Cyclical	13.2%	9.1%
Financial Services	11.3%	28.4%
Basic Materials	8.3%	6.5%
Communication Services	2.3%	5.0%
Utilities	2.3%	6.5%
Energy	1.7%	3.7%
Real Estate	1.6%	9.3%
Consumer Defensive	0.9%	4.1%

Return for Risk

FPXE vs. EUSC — Risk / Return Rank

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

FPXE

FPXE Risk / Return Rank: 30
FPXE Sharpe Ratio Rank: 27
FPXE Sortino Ratio Rank: 28
FPXE Omega Ratio Rank: 27
FPXE Calmar Ratio Rank: 33
FPXE Martin Ratio Rank: 35

EUSC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. EUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust IPOX Europe Equity Opportunities ETF (FPXE) and WisdomTree Europe Hedged SmallCap Equity Fund (EUSC). 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	EUSC	Difference
Sharpe ratio: Return per unit of total volatility	0.92	—	—
Sortino ratio: Return per unit of downside risk	1.44	—	—
Omega ratio: Gain probability vs. loss probability	1.17	—	—
Calmar ratio: Return relative to maximum drawdown	1.57	—	—
Martin ratio: Return relative to average drawdown	4.83	—	—

Drawdowns

FPXE vs. EUSC - Drawdown Comparison

The maximum FPXE drawdown since its inception was -49.55%, which is greater than EUSC's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FPXE and EUSC.

Drawdown Indicators

	FPXE	EUSC	Difference
Max Drawdown Largest peak-to-trough decline	-49.55%	0.00%	-49.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.28%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.55%	—	—
Current Drawdown Current decline from peak	-3.00%	0.00%	-3.00%
Average Drawdown Average peak-to-trough decline	-14.60%	0.00%	-14.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	—	—

Volatility

Volatility by Period

	FPXE	EUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	1.10%	+18.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.92%	1.10%	+20.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.23%	1.10%	+21.13%

FPXE vs. EUSC - Expense Ratio Comparison

FPXE has a 0.70% expense ratio, which is higher than EUSC's 0.58% expense ratio.

Dividends

FPXE vs. EUSC - Dividend Comparison

FPXE's dividend yield for the trailing twelve months is around 1.02%, while EUSC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FPXE First Trust IPOX Europe Equity Opportunities ETF	1.02%	1.15%	2.10%	2.03%	1.81%	0.47%	1.35%	2.06%

Frequently Asked Questions

Can I hold both FPXE and EUSC in my portfolio?

FPXE and EUSC have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FPXE or EUSC?

On fees, EUSC is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FPXE or EUSC?

EUSC is cheaper with a 0.58% expense ratio, compared with 0.70% for FPXE.

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

FPXE has the higher dividend yield at 1.02%, compared with 0.00% for EUSC.

What is the main difference between FPXE and EUSC?

FPXE tracks IPOX 100 Europe Index, while EUSC tracks WisdomTree Europe Hedged SmallCap Equity Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.70% for FPXE and 0.58% for EUSC.