FPXE vs. SPOT

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust IPOX Europe Equity Opportunities ETF (FPXE) and Spotify Technology S.A. (SPOT).

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.

Performance

FPXE vs. SPOT - Performance Comparison

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

FPXE vs. SPOT - 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%
SPOT Spotify Technology S.A.	-16.50%	29.80%	138.08%	138.01%	-66.27%	-25.62%	110.40%	31.76%	-30.95%

Returns By Period

In the year-to-date period, FPXE achieves a -0.65% return, which is significantly higher than SPOT's -16.50% return.

FPXE

• 1D: 4.49%
• 1M: -6.65%
• YTD: -0.65%
• 6M: -2.92%
• 1Y: 23.16%
• 3Y*: 14.84%
• 5Y*: 3.29%
• 10Y*: —

SPOT

• 1D: 2.09%
• 1M: -5.83%
• YTD: -16.50%
• 6M: -30.53%
• 1Y: -11.84%
• 3Y*: 53.67%
• 5Y*: 12.17%
• 10Y*: —

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

Return for Risk

FPXE vs. SPOT — Risk / Return Rank

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

FPXE

FPXE Risk / Return Rank: 64
FPXE Sharpe Ratio Rank: 61
FPXE Sortino Ratio Rank: 66
FPXE Omega Ratio Rank: 63
FPXE Calmar Ratio Rank: 71
FPXE Martin Ratio Rank: 59

SPOT

SPOT Risk / Return Rank: 31
SPOT Sharpe Ratio Rank: 30
SPOT Sortino Ratio Rank: 29
SPOT Omega Ratio Rank: 29
SPOT Calmar Ratio Rank: 33
SPOT Martin Ratio Rank: 32

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. SPOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust IPOX Europe Equity Opportunities ETF (FPXE) and Spotify Technology S.A. (SPOT). 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	SPOT	Difference
Sharpe ratio Return per unit of total volatility	1.09	-0.26	+1.36
Sortino ratio Return per unit of downside risk	1.67	-0.08	+1.75
Omega ratio Gain probability vs. loss probability	1.23	0.99	+0.24
Calmar ratio Return relative to maximum drawdown	1.83	-0.29	+2.12
Martin ratio Return relative to average drawdown	5.81	-0.65	+6.45
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPXE vs. SPOT - Sharpe Ratio Comparison

The current FPXE Sharpe Ratio is 1.09, which is higher than the SPOT Sharpe Ratio of -0.26. The chart below compares the historical Sharpe Ratios of FPXE and SPOT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FPXE	SPOT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	-0.26	+1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.26	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.34	+0.03

Correlation

The correlation between FPXE and SPOT is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FPXE vs. SPOT - Dividend Comparison

FPXE's dividend yield for the trailing twelve months is around 1.16%, while SPOT has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019
FPXE First Trust IPOX Europe Equity Opportunities ETF	1.16%	1.15%	2.10%	2.03%	1.81%	0.47%	1.35%	2.06%
SPOT Spotify Technology S.A.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FPXE vs. SPOT - Drawdown Comparison

The maximum FPXE drawdown since its inception was -49.55%, smaller than the maximum SPOT drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for FPXE and SPOT.

Drawdown Indicators

	FPXE	SPOT	Difference
Max Drawdown Largest peak-to-trough decline	-49.55%	-80.51%	+30.96%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-46.80%	+34.95%
Max Drawdown (5Y) Largest decline over 5 years	-49.55%	-76.39%	+26.84%
Current Drawdown Current decline from peak	-7.21%	-37.50%	+30.29%
Average Drawdown Average peak-to-trough decline	-15.00%	-30.63%	+15.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	21.01%	-17.27%

Volatility

FPXE vs. SPOT - Volatility Comparison

The current volatility for First Trust IPOX Europe Equity Opportunities ETF (FPXE) is 9.58%, while Spotify Technology S.A. (SPOT) has a volatility of 12.34%. This indicates that FPXE experiences smaller price fluctuations and is considered to be less risky than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPXE	SPOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.58%	12.34%	-2.76%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	31.26%	-17.86%
Volatility (1Y) Calculated over the trailing 1-year period	21.34%	44.97%	-23.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.59%	47.40%	-25.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.11%	47.06%	-24.95%