FPXE vs. TDIV

Last updated Jun 4, 2026

FPXE (First Trust IPOX Europe Equity Opportunities ETF) and TDIV (First Trust NASDAQ Technology Dividend Index Fund) are both exchange-traded funds - FPXE is a Europe Equities fund tracking the IPOX 100 Europe Index, while TDIV is a Technology Equities fund tracking the NASDAQ Technology Dividend Index. Both are passively managed. Over the past 5 years, FPXE returned 5.11%/yr vs 19.29%/yr for TDIV. A 0.61 correlation means they provide meaningful diversification when combined. FPXE charges 0.70%/yr vs 0.50%/yr for TDIV.

Performance

FPXE vs. TDIV - Performance Comparison

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

Returns By Period

In the year-to-date period, FPXE achieves a 14.30% return, which is significantly lower than TDIV's 30.57% return.

FPXE

• 1D: -0.81%
• 1M: 7.42%
• YTD: 14.30%
• 6M: 16.85%
• 1Y: 20.71%
• 3Y*: 20.83%
• 5Y*: 5.11%
• 10Y*: —

TDIV

• 1D: -1.79%
• 1M: 15.82%
• YTD: 30.57%
• 6M: 28.79%
• 1Y: 53.63%
• 3Y*: 33.27%
• 5Y*: 19.29%
• 10Y*: 19.34%

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

FPXE vs. TDIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FPXE First Trust IPOX Europe Equity Opportunities ETF	14.30%	24.46%	16.31%	14.45%	-35.13%	9.00%	35.00%	34.55%	-14.93%
TDIV First Trust NASDAQ Technology Dividend Index Fund	30.57%	25.27%	24.43%	36.71%	-22.13%	29.49%	17.55%	33.27%	-11.37%

Correlation

The correlation between FPXE and TDIV is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Oct 8, 2018	0.61

The correlation between FPXE and TDIV has been stable across timeframes, ranging from 0.61 to 0.70 - a consistent structural relationship.

FPXE vs. TDIV - Sectors Allocation Comparison

Sectors	FPXE	TDIV
Industrials	24.6%	1.6%
Healthcare	19.7%	-
Consumer Cyclical	13.6%	-
Technology	12.5%	85.0%
Financial Services	11.5%	-
Basic Materials	8.2%	-
Communication Services	2.6%	13.4%
Utilities	2.6%	-
Energy	2.0%	-
Real Estate	1.6%	-
Consumer Defensive	1.0%	-

Return for Risk

FPXE vs. TDIV — Risk / Return Rank

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

FPXE

FPXE Risk / Return Rank: 34
FPXE Sharpe Ratio Rank: 32
FPXE Sortino Ratio Rank: 33
FPXE Omega Ratio Rank: 31
FPXE Calmar Ratio Rank: 37
FPXE Martin Ratio Rank: 37

TDIV

TDIV Risk / Return Rank: 83
TDIV Sharpe Ratio Rank: 86
TDIV Sortino Ratio Rank: 84
TDIV Omega Ratio Rank: 80
TDIV Calmar Ratio Rank: 87
TDIV Martin Ratio Rank: 79

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. TDIV - 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 NASDAQ Technology Dividend Index Fund (TDIV). 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	TDIV	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.93	-1.78
Sortino ratio: Return per unit of downside risk	1.74	3.85	-2.11
Omega ratio: Gain probability vs. loss probability	1.21	1.49	-0.28
Calmar ratio: Return relative to maximum drawdown	1.84	5.02	-3.18
Martin ratio: Return relative to average drawdown	5.73	15.64	-9.91
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. TDIV - Sharpe Ratio Comparison

The current FPXE Sharpe Ratio is 1.14, which is lower than the TDIV Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of FPXE and TDIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FPXE	TDIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	2.93	-1.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.94	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.88	-0.43

Drawdowns

FPXE vs. TDIV - Drawdown Comparison

The maximum FPXE drawdown since its inception was -49.55%, which is greater than TDIV's maximum drawdown of -31.97%. Use the drawdown chart below to compare losses from any high point for FPXE and TDIV.

Drawdown Indicators

	FPXE	TDIV	Difference
Max Drawdown Largest peak-to-trough decline	-49.55%	-31.97%	-17.58%
Max Drawdown (1Y) Largest decline over 1 year	-11.33%	-10.74%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-19.28%	-23.00%	+3.72%
Max Drawdown (5Y) Largest decline over 5 years	-49.55%	-31.97%	-17.58%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.97%	—
Current Drawdown Current decline from peak	-1.12%	-1.79%	+0.67%
Average Drawdown Average peak-to-trough decline	-14.69%	-4.84%	-9.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.62%	3.44%	+0.18%

Volatility

FPXE vs. TDIV - Volatility Comparison

First Trust IPOX Europe Equity Opportunities ETF (FPXE) and First Trust NASDAQ Technology Dividend Index Fund (TDIV) have volatilities of 6.87% and 6.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPXE	TDIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.87%	6.86%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	13.91%	+1.78%
Volatility (1Y) Calculated over the trailing 1-year period	18.23%	18.47%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.71%	20.67%	+1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.16%	20.85%	+1.31%

FPXE vs. TDIV - Expense Ratio Comparison

FPXE has a 0.70% expense ratio, which is higher than TDIV's 0.50% expense ratio.

Dividends

FPXE vs. TDIV - Dividend Comparison

FPXE's dividend yield for the trailing twelve months is around 1.01%, less than TDIV's 1.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPXE First Trust IPOX Europe Equity Opportunities ETF	1.01%	1.15%	2.10%	2.03%	1.81%	0.47%	1.35%	2.06%	0.00%	0.00%	0.00%	0.00%
TDIV First Trust NASDAQ Technology Dividend Index Fund	1.12%	1.40%	1.59%	1.74%	2.51%	1.76%	2.07%	2.27%	2.97%	2.27%	2.45%	2.52%

Frequently Asked Questions

Can I hold both FPXE and TDIV in my portfolio?

FPXE and TDIV have a correlation of 0.63, 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 TDIV?

FPXE has higher volatility (6.87%) compared to TDIV (6.86%). In terms of maximum drawdown, FPXE dropped -49.55% vs TDIV's -31.97%.

Which ETF is better, FPXE or TDIV?

On 5-year performance, TDIV leads with 19.29% vs 5.11% for FPXE. On fees, TDIV is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPXE or TDIV?

Over the 5-year period, TDIV has performed better with a 19.29% return vs 5.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPXE or TDIV?

TDIV is cheaper with a 0.50% expense ratio, compared with 0.70% for FPXE.

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

TDIV has the higher dividend yield at 1.12%, compared with 1.01% for FPXE.

What is the main difference between FPXE and TDIV?

FPXE is categorized as Europe Equities, while TDIV is Technology Equities. FPXE tracks IPOX 100 Europe Index, while TDIV tracks NASDAQ Technology Dividend Index. Their fees differ too: 0.70% for FPXE and 0.50% for TDIV.

Which has better risk-adjusted returns?

TDIV currently has the higher Sharpe Ratio (2.93 vs 1.14), 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.