FPXI vs. VWIGX

Last updated Jun 4, 2026

FPXI (First Trust International Equity Opportunities ETF) and VWIGX (Vanguard International Growth Fund Investor Shares) are both funds - FPXI is a Foreign Large Cap Equities fund tracking the IPOX International Index, while VWIGX is a Large Cap Growth Equities fund managed by Vanguard. Over the past 10 years, FPXI returned 12.89%/yr vs 10.03%/yr for VWIGX. Their correlation of 0.81 suggests significant overlap in exposure. FPXI charges 0.70%/yr vs 0.43%/yr for VWIGX.

Performance

FPXI vs. VWIGX - Performance Comparison

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

Returns By Period

In the year-to-date period, FPXI achieves a 34.41% return, which is significantly higher than VWIGX's 6.19% return. Over the past 10 years, FPXI has outperformed VWIGX with an annualized return of 12.89%, while VWIGX has yielded a comparatively lower 10.03% annualized return.

FPXI

• 1D: -0.36%
• 1M: 13.37%
• YTD: 34.41%
• 6M: 33.60%
• 1Y: 49.62%
• 3Y*: 27.44%
• 5Y*: 4.04%
• 10Y*: 12.89%

VWIGX

• 1D: 0.37%
• 1M: 4.18%
• YTD: 6.19%
• 6M: 6.71%
• 1Y: 13.68%
• 3Y*: 12.39%
• 5Y*: -0.93%
• 10Y*: 10.03%

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

FPXI vs. VWIGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPXI First Trust International Equity Opportunities ETF	34.41%	26.37%	12.62%	9.56%	-31.83%	-15.73%	71.50%	33.69%	-13.07%	39.32%
VWIGX Vanguard International Growth Fund Investor Shares	6.19%	19.96%	9.07%	14.65%	-30.86%	-11.18%	59.57%	31.36%	-12.68%	42.98%

Correlation

The correlation between FPXI and VWIGX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 10, 2014	0.81

The correlation between FPXI and VWIGX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

FPXI vs. VWIGX - Sectors Allocation Comparison

Sectors	FPXI	VWIGX
Technology	31.4%	27.5%
Industrials	22.6%	13.3%
Basic Materials	14.8%	2.6%
Healthcare	11.9%	10.6%
Consumer Cyclical	7.2%	17.5%
Financial Services	5.0%	12.2%
Communication Services	2.5%	6.2%
Energy	2.3%	1.9%
Utilities	0.9%	0.5%
Consumer Defensive	0.8%	5.4%
Real Estate	0.6%	-

Return for Risk

FPXI vs. VWIGX — Risk / Return Rank

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

FPXI

FPXI Risk / Return Rank: 63
FPXI Sharpe Ratio Rank: 63
FPXI Sortino Ratio Rank: 61
FPXI Omega Ratio Rank: 58
FPXI Calmar Ratio Rank: 68
FPXI Martin Ratio Rank: 64

VWIGX

VWIGX Risk / Return Rank: 9
VWIGX Sharpe Ratio Rank: 9
VWIGX Sortino Ratio Rank: 9
VWIGX Omega Ratio Rank: 9
VWIGX Calmar Ratio Rank: 9
VWIGX Martin Ratio Rank: 10

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. VWIGX - Risk-Adjusted Trends Comparison

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

	FPXI	VWIGX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	0.75	+1.38
Sortino ratio: Return per unit of downside risk	2.89	1.15	+1.74
Omega ratio: Gain probability vs. loss probability	1.35	1.14	+0.21
Calmar ratio: Return relative to maximum drawdown	3.38	0.95	+2.42
Martin ratio: Return relative to average drawdown	11.66	3.07	+8.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPXI vs. VWIGX - Sharpe Ratio Comparison

The current FPXI Sharpe Ratio is 2.13, which is higher than the VWIGX Sharpe Ratio of 0.75. The chart below compares the historical Sharpe Ratios of FPXI and VWIGX, 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

	FPXI	VWIGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	0.75	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	-0.04	+0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.47	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.48	0.00

Drawdowns

FPXI vs. VWIGX - Drawdown Comparison

The maximum FPXI drawdown since its inception was -55.78%, smaller than the maximum VWIGX drawdown of -59.58%. Use the drawdown chart below to compare losses from any high point for FPXI and VWIGX.

Drawdown Indicators

	FPXI	VWIGX	Difference
Max Drawdown Largest peak-to-trough decline	-55.78%	-59.58%	+3.80%
Max Drawdown (1Y) Largest decline over 1 year	-14.77%	-14.06%	-0.71%
Max Drawdown (3Y) Largest decline over 3 years	-20.58%	-20.04%	-0.54%
Max Drawdown (5Y) Largest decline over 5 years	-50.75%	-52.69%	+1.94%
Max Drawdown (10Y) Largest decline over 10 years	-55.78%	-53.25%	-2.53%
Current Drawdown Current decline from peak	-0.36%	-13.47%	+13.11%
Average Drawdown Average peak-to-trough decline	-20.26%	-13.80%	-6.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.27%	4.37%	-0.10%

Volatility

FPXI vs. VWIGX - Volatility Comparison

First Trust International Equity Opportunities ETF (FPXI) has a higher volatility of 8.88% compared to Vanguard International Growth Fund Investor Shares (VWIGX) at 4.72%. This indicates that FPXI's price experiences larger fluctuations and is considered to be riskier than VWIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPXI	VWIGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.88%	4.72%	+4.16%
Volatility (6M) Calculated over the trailing 6-month period	19.74%	14.45%	+5.29%
Volatility (1Y) Calculated over the trailing 1-year period	23.42%	17.96%	+5.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.57%	23.25%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.18%	21.60%	-0.42%

FPXI vs. VWIGX - Expense Ratio Comparison

FPXI has a 0.70% expense ratio, which is higher than VWIGX's 0.43% expense ratio.

Dividends

FPXI vs. VWIGX - Dividend Comparison

FPXI's dividend yield for the trailing twelve months is around 0.59%, less than VWIGX's 6.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FPXI First Trust International Equity Opportunities ETF	0.59%	0.70%	0.93%	0.71%	1.13%	0.71%	0.18%	0.67%	1.75%	0.75%	2.09%	1.34%
VWIGX Vanguard International Growth Fund Investor Shares	6.35%	6.74%	9.68%	1.82%	6.90%	2.36%	2.28%	1.20%	5.34%	0.84%	1.26%	1.39%

Frequently Asked Questions

Can I hold both FPXI and VWIGX in my portfolio?

FPXI and VWIGX have a correlation of 0.84, 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 VWIGX?

FPXI has higher volatility (8.88%) compared to VWIGX (4.72%). In terms of maximum drawdown, FPXI dropped -55.78% vs VWIGX's -59.58%.

Which has better risk-adjusted returns?

FPXI currently has the higher Sharpe Ratio (2.13 vs 0.75), 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.