FPXE vs. FEP
Compare and contrast key facts about First Trust IPOX Europe Equity Opportunities ETF (FPXE) and First Trust Europe AlphaDEX Fund (FEP).
FPXE and FEP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FPXE is a passively managed fund by First Trust that tracks the performance of the IPOX 100 Europe Index. It was launched on Oct 4, 2018. FEP is a passively managed fund by First Trust that tracks the performance of the Defined Europe Index. It was launched on Apr 26, 2011. Both FPXE and FEP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FPXE vs. FEP - Performance Comparison
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FPXE vs. FEP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FPXE First Trust IPOX Europe Equity Opportunities ETF | -0.65% | 24.46% | 16.31% | 14.45% | -35.13% | 9.00% | 35.00% | 34.55% | -14.93% |
FEP First Trust Europe AlphaDEX Fund | 1.73% | 55.72% | 3.38% | 16.85% | -22.97% | 17.03% | 4.12% | 24.83% | -15.82% |
Returns By Period
In the year-to-date period, FPXE achieves a -0.65% return, which is significantly lower than FEP's 1.73% return.
FPXE
- 1D
- 4.49%
- 1M
- -6.65%
- YTD
- -0.65%
- 6M
- -2.92%
- 1Y
- 23.16%
- 3Y*
- 14.84%
- 5Y*
- 3.29%
- 10Y*
- —
FEP
- 1D
- 4.18%
- 1M
- -7.37%
- YTD
- 1.73%
- 6M
- 7.95%
- 1Y
- 38.59%
- 3Y*
- 20.97%
- 5Y*
- 9.58%
- 10Y*
- 9.77%
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FPXE vs. FEP - Expense Ratio Comparison
FPXE has a 0.70% expense ratio, which is lower than FEP's 0.80% expense ratio.
Return for Risk
FPXE vs. FEP — Risk / Return Rank
FPXE
FEP
FPXE vs. FEP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust IPOX Europe Equity Opportunities ETF (FPXE) and First Trust Europe AlphaDEX Fund (FEP). 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.
| FPXE | FEP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.09 | 2.00 | -0.90 |
Sortino ratioReturn per unit of downside risk | 1.67 | 2.57 | -0.90 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.39 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.98 | -1.15 |
Martin ratioReturn relative to average drawdown | 5.81 | 11.45 | -5.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FPXE | FEP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 2.00 | -0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.49 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.47 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.31 | +0.06 |
Correlation
The correlation between FPXE and FEP is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FPXE vs. FEP - Dividend Comparison
FPXE's dividend yield for the trailing twelve months is around 1.16%, less than FEP's 3.21% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPXE First Trust IPOX Europe Equity Opportunities ETF | 1.16% | 1.15% | 2.10% | 2.03% | 1.81% | 0.47% | 1.35% | 2.06% | 0.00% | 0.00% | 0.00% | 0.00% |
FEP First Trust Europe AlphaDEX Fund | 3.21% | 3.33% | 4.94% | 3.27% | 3.00% | 3.49% | 2.32% | 2.63% | 2.62% | 1.65% | 2.14% | 2.20% |
Drawdowns
FPXE vs. FEP - Drawdown Comparison
The maximum FPXE drawdown since its inception was -49.55%, which is greater than FEP's maximum drawdown of -46.05%. Use the drawdown chart below to compare losses from any high point for FPXE and FEP.
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Drawdown Indicators
| FPXE | FEP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.55% | -46.05% | -3.50% |
Max Drawdown (1Y)Largest decline over 1 year | -11.85% | -12.31% | +0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -49.55% | -38.99% | -10.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.05% | — |
Current DrawdownCurrent decline from peak | -7.21% | -7.79% | +0.58% |
Average DrawdownAverage peak-to-trough decline | -15.00% | -12.14% | -2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 3.21% | +0.53% |
Volatility
FPXE vs. FEP - Volatility Comparison
First Trust IPOX Europe Equity Opportunities ETF (FPXE) has a higher volatility of 9.58% compared to First Trust Europe AlphaDEX Fund (FEP) at 9.11%. This indicates that FPXE's price experiences larger fluctuations and is considered to be riskier than FEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPXE | FEP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.58% | 9.11% | +0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 13.40% | 12.56% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.34% | 19.48% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.59% | 19.58% | +2.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.11% | 20.65% | +1.46% |