FPXI vs. FIGFX

Last updated Jun 24, 2026

FPXI (First Trust International Equity Opportunities ETF) and FIGFX (Fidelity International Growth Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, FPXI returned 13.94%/yr vs 10.50%/yr for FIGFX. A 0.74 correlation means they provide meaningful diversification when combined. FPXI charges 0.70%/yr vs 0.99%/yr for FIGFX.

Performance

FPXI vs. FIGFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust International Equity Opportunities ETF (FPXI) and Fidelity International Growth Fund (FIGFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPXI achieves a 38.06% return, which is significantly higher than FIGFX's 12.93% return. Over the past 10 years, FPXI has outperformed FIGFX with an annualized return of 13.94%, while FIGFX has yielded a comparatively lower 10.50% annualized return.

FPXI

• 1D: -5.63%
• 1M: 8.84%
• YTD: 38.06%
• 6M: 35.72%
• 1Y: 51.16%
• 3Y*: 29.56%
• 5Y*: 4.36%
• 10Y*: 13.94%

FIGFX

• 1D: 0.08%
• 1M: 6.74%
• YTD: 12.93%
• 6M: 12.29%
• 1Y: 21.69%
• 3Y*: 14.65%
• 5Y*: 6.46%
• 10Y*: 10.50%

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

FPXI vs. FIGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPXI First Trust International Equity Opportunities ETF	38.06%	26.37%	12.62%	9.56%	-31.83%	-15.73%	71.50%	33.69%	-13.07%	39.32%
FIGFX Fidelity International Growth Fund	12.93%	17.91%	4.90%	20.89%	-23.19%	15.42%	16.95%	33.97%	-11.52%	28.83%

Correlation

The correlation between FPXI and FIGFX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014	0.74

The correlation between FPXI and FIGFX has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

Return for Risk

FPXI vs. FIGFX — Risk / Return Rank

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

FPXI

FPXI Risk / Return Rank: 64
FPXI Sharpe Ratio Rank: 63
FPXI Sortino Ratio Rank: 59
FPXI Omega Ratio Rank: 57
FPXI Calmar Ratio Rank: 73
FPXI Martin Ratio Rank: 68

FIGFX

FIGFX Risk / Return Rank: 23
FIGFX Sharpe Ratio Rank: 21
FIGFX Sortino Ratio Rank: 21
FIGFX Omega Ratio Rank: 21
FIGFX Calmar Ratio Rank: 23
FIGFX Martin Ratio Rank: 28

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.

FPXI vs. FIGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust International Equity Opportunities ETF (FPXI) and Fidelity International Growth Fund (FIGFX). 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.

	FPXI	FIGFX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.21	+0.73
Sortino ratio: Return per unit of downside risk	2.60	1.81	+0.79
Omega ratio: Gain probability vs. loss probability	1.33	1.22	+0.10
Calmar ratio: Return relative to maximum drawdown	3.48	1.67	+1.81
Martin ratio: Return relative to average drawdown	11.66	6.10	+5.56

FPXI vs. FIGFX - Sharpe Ratio Comparison

The current FPXI Sharpe Ratio is 1.93, which is higher than the FIGFX Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of FPXI and FIGFX, 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

FPXI vs. FIGFX - Drawdown Comparison

The maximum FPXI drawdown since its inception was -55.78%, roughly equal to the maximum FIGFX drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for FPXI and FIGFX.

Drawdown Indicators

	FPXI	FIGFX	Difference
Max Drawdown Largest peak-to-trough decline	-55.78%	-55.97%	+0.19%
Max Drawdown (1Y) Largest decline over 1 year	-14.77%	-13.95%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-20.58%	-16.51%	-4.07%
Max Drawdown (5Y) Largest decline over 5 years	-50.75%	-34.91%	-15.84%
Max Drawdown (10Y) Largest decline over 10 years	-55.78%	-34.91%	-20.87%
Current Drawdown Current decline from peak	-5.63%	0.00%	-5.63%
Average Drawdown Average peak-to-trough decline	-20.17%	-10.37%	-9.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	3.81%	+0.59%

Volatility

FPXI vs. FIGFX - Volatility Comparison

First Trust International Equity Opportunities ETF (FPXI) has a higher volatility of 13.69% compared to Fidelity International Growth Fund (FIGFX) at 7.15%. This indicates that FPXI's price experiences larger fluctuations and is considered to be riskier than FIGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPXI	FIGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.69%	7.15%	+6.54%
Volatility (6M) Calculated over the trailing 6-month period	23.40%	16.98%	+6.42%
Volatility (1Y) Calculated over the trailing 1-year period	26.63%	19.34%	+7.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.33%	18.31%	+4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.46%	17.91%	+3.55%

FPXI vs. FIGFX - Expense Ratio Comparison

FPXI has a 0.70% expense ratio, which is lower than FIGFX's 0.99% expense ratio.

Dividends

FPXI vs. FIGFX - Dividend Comparison

FPXI's dividend yield for the trailing twelve months is around 0.58%, less than FIGFX's 3.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIGFX Fidelity International Growth Fund	3.05%	3.44%	0.78%	0.48%	1.66%	1.93%	0.11%	0.97%	0.88%	0.12%	1.24%	0.77%
FPXI First Trust International Equity Opportunities ETF	0.58%	0.70%	0.93%	0.71%	1.13%	0.71%	0.18%	0.67%	1.75%	0.75%	2.09%	1.34%

Frequently Asked Questions

Can I hold both FPXI and FIGFX in my portfolio?

FPXI and FIGFX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPXI or FIGFX?

FPXI has higher volatility (13.69%) compared to FIGFX (7.15%). In terms of maximum drawdown, FPXI dropped -55.78% vs FIGFX's -55.97%.

Which has better risk-adjusted returns?

FPXI currently has the higher Sharpe Ratio (1.93 vs 1.21), 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.