FTEU.L vs. FPX.L

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FTEU.L) and First Trust US IPO Index UCITS ETF (FPX.L).

FTEU.L and FPX.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FTEU.L is a passively managed fund by First Trust that tracks the performance of the MSCI EMU NR EUR. It was launched on Oct 21, 2014. FPX.L is a passively managed fund by First Trust that tracks the performance of the Russell 1000 Growth TR USD. It was launched on Aug 14, 2015. Both FTEU.L and FPX.L 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

FTEU.L vs. FPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FTEU.L) and First Trust US IPO Index UCITS ETF (FPX.L). The values are adjusted to include any dividend payments, if applicable.

FTEU.L vs. FPX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTEU.L First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares	3.83%	57.74%	2.77%	16.49%	-18.83%	11.78%	5.07%	20.55%	-19.61%	35.90%
FPX.L First Trust US IPO Index UCITS ETF	-1.86%	36.52%	24.89%	23.33%	-35.80%	3.03%	48.23%	31.01%	-9.12%	26.02%

Different Trading Currencies

FTEU.L is traded in USD, while FPX.L is traded in GBp. To make them comparable, the FPX.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FTEU.L achieves a 3.83% return, which is significantly higher than FPX.L's -1.86% return.

FTEU.L

• 1D: 3.46%
• 1M: -3.56%
• YTD: 3.83%
• 6M: 9.11%
• 1Y: 41.60%
• 3Y*: 21.87%
• 5Y*: 10.71%
• 10Y*: —

FPX.L

• 1D: 4.53%
• 1M: -2.73%
• YTD: -1.86%
• 6M: -2.10%
• 1Y: 43.75%
• 3Y*: 24.62%
• 5Y*: 6.18%
• 10Y*: —

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

FTEU.L vs. FPX.L - Expense Ratio Comparison

FTEU.L has a 0.80% expense ratio, which is higher than FPX.L's 0.65% expense ratio.

FTEU.L

First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares

FPX.L

First Trust US IPO Index UCITS ETF

Return for Risk

FTEU.L vs. FPX.L — Risk / Return Rank

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

FTEU.L

FTEU.L Risk / Return Rank: 91
FTEU.L Sharpe Ratio Rank: 92
FTEU.L Sortino Ratio Rank: 90
FTEU.L Omega Ratio Rank: 92
FTEU.L Calmar Ratio Rank: 92
FTEU.L Martin Ratio Rank: 89

FPX.L

FPX.L Risk / Return Rank: 77
FPX.L Sharpe Ratio Rank: 75
FPX.L Sortino Ratio Rank: 76
FPX.L Omega Ratio Rank: 67
FPX.L Calmar Ratio Rank: 88
FPX.L Martin Ratio Rank: 80

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.

FTEU.L vs. FPX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FTEU.L) and First Trust US IPO Index UCITS ETF (FPX.L). 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.

	FTEU.L	FPX.L	Difference
Sharpe ratio Return per unit of total volatility	2.17	1.55	+0.62
Sortino ratio Return per unit of downside risk	2.71	2.21	+0.50
Omega ratio Gain probability vs. loss probability	1.42	1.28	+0.14
Calmar ratio Return relative to maximum drawdown	3.63	3.16	+0.47
Martin ratio Return relative to average drawdown	12.48	11.35	+1.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTEU.L vs. FPX.L - Sharpe Ratio Comparison

The current FTEU.L Sharpe Ratio is 2.17, which is higher than the FPX.L Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of FTEU.L and FPX.L, 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

	FTEU.L	FPX.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	1.55	+0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.25	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.66	-0.15

Correlation

The correlation between FTEU.L and FPX.L is 0.44, 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

FTEU.L vs. FPX.L - Dividend Comparison

Neither FTEU.L nor FPX.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

FTEU.L vs. FPX.L - Drawdown Comparison

The maximum FTEU.L drawdown since its inception was -46.61%, which is greater than FPX.L's maximum drawdown of -43.89%. Use the drawdown chart below to compare losses from any high point for FTEU.L and FPX.L.

Drawdown Indicators

	FTEU.L	FPX.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.61%	-36.97%	-9.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-13.42%	+2.00%
Max Drawdown (5Y) Largest decline over 5 years	-38.49%	-36.97%	-1.52%
Current Drawdown Current decline from peak	-6.19%	-5.31%	-0.88%
Average Drawdown Average peak-to-trough decline	-10.49%	-12.23%	+1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.85%	-0.53%

Volatility

FTEU.L vs. FPX.L - Volatility Comparison

First Trust Eurozone AlphaDEX® UCITS ETF Class A Shares (FTEU.L) has a higher volatility of 8.13% compared to First Trust US IPO Index UCITS ETF (FPX.L) at 7.72%. This indicates that FTEU.L's price experiences larger fluctuations and is considered to be riskier than FPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTEU.L	FPX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	7.72%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	18.38%	-5.58%
Volatility (1Y) Calculated over the trailing 1-year period	19.09%	28.17%	-9.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.04%	27.24%	-7.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	26.35%	-6.49%