PZIV vs. FPXI
PZIV (Pzena International Value ETF) and FPXI (First Trust International Equity Opportunities ETF) are both Foreign Large Cap Equities funds. PZIV is actively managed, while FPXI is passively managed. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.70% expense ratio.
Performance
PZIV vs. FPXI - Performance Comparison
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Returns By Period
PZIV
- 1D
- 0.66%
- 1M
- 2.02%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FPXI
- 1D
- 0.06%
- 1M
- -8.93%
- 6M
- 18.47%
- YTD
- 25.65%
- 1Y
- 33.87%
- 3Y*
- 22.73%
- 5Y*
- 2.88%
- 10Y*
- 12.41%
PZIV vs. FPXI - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
PZIV Pzena International Value ETF | 13.24% |
FPXI First Trust International Equity Opportunities ETF | 20.25% |
Correlation
The correlation between PZIV and FPXI is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 1, 2026 | 0.58 |
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Return for Risk
PZIV vs. FPXI — Risk / Return Rank
PZIV
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FPXI
PZIV vs. FPXI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pzena International Value ETF (PZIV) and First Trust International Equity Opportunities ETF (FPXI). 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.
| PZIV | FPXI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.22 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.13 | — |
| Martin ratioReturn relative to average drawdown | — | 6.73 | — |
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Drawdowns
PZIV vs. FPXI - Drawdown Comparison
The maximum PZIV drawdown since its inception was -3.74%, smaller than the maximum FPXI drawdown of -55.78%. Use the drawdown chart below to compare losses from any high point for PZIV and FPXI.
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Drawdown Indicators
| PZIV | FPXI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.74% | -55.78% | +52.04% |
Max Drawdown (1Y)Largest decline over 1 year | — | -15.95% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -20.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -50.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.78% | — |
Current DrawdownCurrent decline from peak | 0.00% | -14.12% | +14.12% |
Average DrawdownAverage peak-to-trough decline | -0.94% | -20.12% | +19.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.05% | — |
Volatility
PZIV vs. FPXI - Volatility Comparison
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Volatility by Period
| PZIV | FPXI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.82% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 25.81% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.34% | 28.76% | -13.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.34% | 22.83% | -7.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.34% | 21.70% | -6.36% |
PZIV vs. FPXI - Expense Ratio Comparison
Both PZIV and FPXI have an expense ratio of 0.70%.
Dividends
PZIV vs. FPXI - Dividend Comparison
PZIV has not paid dividends to shareholders, while FPXI's dividend yield for the trailing twelve months is around 0.63%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPXI First Trust International Equity Opportunities ETF | 0.63% | 0.70% | 0.93% | 0.71% | 1.13% | 0.71% | 0.18% | 0.67% | 1.75% | 0.75% | 2.09% | 1.34% |
PZIV Pzena International Value ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PZIV and FPXI have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.70% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
PZIV and FPXI have the same expense ratio: 0.70% per year.
FPXI has the higher dividend yield at 0.63%, compared with 0.00% for PZIV.
They also come from different issuers: Pzena and First Trust.
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