XEML vs. FPXE

Last updated Jun 26, 2026

XEML (Xtrackers Europe Market Leaders ETF) and FPXE (First Trust IPOX Europe Equity Opportunities ETF) are both Europe Equities funds - XEML tracks the STOXX Europe Total Market Leaders Index while FPXE tracks the IPOX 100 Europe Index. Both are passively managed. Their correlation of 0.80 suggests significant overlap in exposure. XEML charges 0.35%/yr vs 0.70%/yr for FPXE.

Performance

XEML vs. FPXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Europe Market Leaders ETF (XEML) and First Trust IPOX Europe Equity Opportunities ETF (FPXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XEML achieves a 4.05% return, which is significantly lower than FPXE's 11.25% return.

XEML

• 1D: 0.95%
• 1M: 1.17%
• YTD: 4.05%
• 6M: 3.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FPXE

• 1D: -0.04%
• 1M: -1.47%
• YTD: 11.25%
• 6M: 10.48%
• 1Y: 15.37%
• 3Y*: 20.91%
• 5Y*: 4.77%
• 10Y*: —

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

XEML vs. FPXE - Yearly Performance Comparison

	2026 (YTD)	2025
XEML Xtrackers Europe Market Leaders ETF	4.05%	-0.42%
FPXE First Trust IPOX Europe Equity Opportunities ETF	11.25%	0.01%

Correlation

The correlation between XEML and FPXE is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 23, 2025	0.80

Return for Risk

XEML vs. FPXE — Risk / Return Rank

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

XEML

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FPXE

FPXE Risk / Return Rank: 26
FPXE Sharpe Ratio Rank: 24
FPXE Sortino Ratio Rank: 24
FPXE Omega Ratio Rank: 23
FPXE Calmar Ratio Rank: 29
FPXE Martin Ratio Rank: 31

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.

XEML vs. FPXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Europe Market Leaders ETF (XEML) and First Trust IPOX Europe Equity Opportunities ETF (FPXE). 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.

	XEML	FPXE	Difference
Sharpe ratio: Return per unit of total volatility	—	0.80	—
Sortino ratio: Return per unit of downside risk	—	1.27	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	1.36	—
Martin ratio: Return relative to average drawdown	—	4.17	—

Drawdowns

XEML vs. FPXE - Drawdown Comparison

The maximum XEML drawdown since its inception was -13.49%, smaller than the maximum FPXE drawdown of -49.55%. Use the drawdown chart below to compare losses from any high point for XEML and FPXE.

Drawdown Indicators

	XEML	FPXE	Difference
Max Drawdown Largest peak-to-trough decline	-13.49%	-49.55%	+36.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.33%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.28%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-49.55%	—
Current Drawdown Current decline from peak	-4.46%	-3.96%	-0.50%
Average Drawdown Average peak-to-trough decline	-4.91%	-14.59%	+9.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.69%	—

Volatility

Volatility by Period

	XEML	FPXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	19.38%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	21.93%	-2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.55%	22.22%	-2.67%

XEML vs. FPXE - Expense Ratio Comparison

XEML has a 0.35% expense ratio, which is lower than FPXE's 0.70% expense ratio.

Dividends

XEML vs. FPXE - Dividend Comparison

XEML's dividend yield for the trailing twelve months is around 1.79%, less than FPXE's 2.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FPXE First Trust IPOX Europe Equity Opportunities ETF	2.14%	1.15%	2.10%	2.03%	1.81%	0.47%	1.35%	2.06%
XEML Xtrackers Europe Market Leaders ETF	1.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XEML and FPXE in my portfolio?

XEML and FPXE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XEML or FPXE?

On fees, XEML is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEML or FPXE?

XEML is cheaper with a 0.35% expense ratio, compared with 0.70% for FPXE.

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

FPXE has the higher dividend yield at 2.14%, compared with 1.79% for XEML.

What is the main difference between XEML and FPXE?

XEML tracks STOXX Europe Total Market Leaders Index, while FPXE tracks IPOX 100 Europe Index. They also come from different issuers: Xtrackers and First Trust. Their fees differ too: 0.35% for XEML and 0.70% for FPXE.