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Launched · SEC filings

First Trust US Equity Opportunities ETF

FPXNYSE ArcaFirst TrustA

$165.66−1.68 (−1.00%)

As of Nov 10, 2026, 11:15 AM ET

A78/ 100

Rank 1 of 8 in IPO & Spin-Off

A78/100Rank 1 of 8inIPO & Spin-Off
Intraday session: down, 22 prints from 167.34 to 165.66. Range 165.05 to 167.37. Use the arrow keys to read each point.165.00166.00166.50167.0010 AM12 PM2 PM4 PM
Expense ratio
0.57%
Fund size
$1.28B
1Y total return
+2.7%
Yield · Last 12 months
0.19%
Holdings
100
Avg volume · 30D
35.2K sh
52W range
low $146.01high $206.18
Launched
Filings
SEC EDGAR

The ETF.net FPX Grade

A

Score 78 out of 100

Category
IPO & Spin-Off⁠
Rank
1 of 8
Six-pillar profile for FPX. Scores out of 100: Cost 88, Risk 48, Mission 23, Tradability 91, Holdings 75, Durability 84. Strongest: Tradability (91). Weakest: Mission (23). Leans toward Tradability and Cost.

Score 78 of 100 falls in the A band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A88 out of 100
    Rank 1 of 8

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    F23 out of 100
    No data

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C48 out of 100
    Rank 5 of 8

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A91 out of 100
    Rank 1 of 8

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A75 out of 100
    Rank 1 of 7

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A84 out of 100
    Rank 1 of 8

Our read on FPX

ETF.net Research

In short

AThe IPO trade with a rulebook. Since 2006, FPX has tracked an index of roughly 100 recently public US companies, new listings and spin-offs alike, at a lower fee than the typical fund in its niche.

Stated mandate

The Fund seeks to track the price and yield performance of the IPOX®-100 U.S. Index before fees and expenses. It normally invests at least 90% of net assets in securities comprising that Index.

Why people hold it

  • At 0.57%, it undercuts the median fee in its IPO and spin-off peer group, including CSD (0.67%) and FPXI (0.70%).
  • Launched in 2006 and now at billion-dollar-plus scale, it is a long-running vehicle in a category full of newer entrants.
  • Rules over hunches: at least 90% of net assets sit in the IPOX-100 U.S. Index, about 100 names, so the basket is defined by methodology rather than a manager's favorites.
  • Rates as one of the stronger implementations in its small group of IPO and spin-off funds, and pays distributions quarterly.

Worth knowing

  • The whole portfolio is built from recent listings and spin-offs, a slice of the market known for sharp moves in both directions.
  • Cheap for the niche, not cheap in absolute terms: 0.57% is a thematic-fund price tag, not a core-index one.
  • US-only by design, and concentrated at about 100 stocks. Overseas new listings fall outside the mandate and live in the sibling fund FPXI.

FPX Performance

Launched Apr 12, 2006

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FPX$10,269
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. FPX $10,269. SPY $11,339. Use the arrow keys to read each point.$9,000$10,000$11,000$12,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FPX. Periods over one year show the average yearly return.
PeriodFPX
Year to date+2.3%
1 month−7.3%
3 months−7.8%
1 year+2.7%
3 yearsper year+27.9%
5 yearsper year+4.7%
10 yearsper year+12.7%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FPX
YearReturn barFPX
2026 YTD+2.3%
2025+37.6%
2024+24.7%
2023+22.3%
2022−35.1%
2021+3.7%
2020+47.9%

FPX in the news

FPX Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
0.19%Last 12 months
Payout per share
$0.32Last 12 months
Last payment
$0.0054 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2017–2026

One bar per payment. 34 payments from 2017 to 2026 YTD. Mar 23, 2017 $0.16; Jun 22, 2017 $0.08; Sep 21, 2017 $0.12; Dec 21, 2017 $0.11; Mar 22, 2018 $0.11; Jun 21, 2018 $0.18; Sep 14, 2018 $0.10; Dec 18, 2018 $0.16; Mar 21, 2019 $0.05; Jun 14, 2019 $0.12; Sep 25, 2019 $0.20; Dec 13, 2019 $0.17; Mar 26, 2020 $0.14; Jun 25, 2020 $0.08; Sep 24, 2020 $0.04; Dec 24, 2020 $0.07; Mar 25, 2021 $0.09; Sep 23, 2021 $0.08; Mar 25, 2022 $0.07; Jun 24, 2022 $0.15; Sep 23, 2022 $0.13; Dec 23, 2022 $0.50; Mar 24, 2023 $0.14; Jun 27, 2023 $0.05; Sep 22, 2023 $0.06; Dec 22, 2023 $0.02; Mar 21, 2024 $0.01; Dec 13, 2024 $0.10; Mar 27, 2025 $0.0074; Jun 26, 2025 $0.09; Sep 25, 2025 $0.53; Dec 12, 2025 $0.23; Mar 26, 2026 $0.08; Jun 25, 2026 $0.0054. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Jun 25, 2026Jun 30, 2026$0.0054
Mar 26, 2026Mar 31, 2026$0.08
Dec 12, 2025Dec 31, 2025$0.23
Sep 25, 2025Sep 30, 2025$0.53
Jun 26, 2025Jun 30, 2025$0.09
Mar 27, 2025Mar 31, 2025$0.0074
Dec 13, 2024Dec 31, 2024$0.10
Mar 21, 2024Mar 28, 2024$0.01
Dec 22, 2023Dec 29, 2023$0.02
Sep 22, 2023Sep 29, 2023$0.06
Jun 27, 2023Jun 30, 2023$0.05
Mar 24, 2023Mar 31, 2023$0.14

See all 62 payments⁠

$10,000 in FPX 10 years ago paid $818 in dividends.⁠

FPX Risk

Risk pillarC48 out of 100Rank 5 of 8 in IPO & Spin-Off
How much the fund’s monthly returns vary, scaled to a year.
24.7%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.03
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−43.1%
Trough Oct 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.53
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FPX Cost

Cheapest in IPO & Spin-Off

$11,271

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FPX 0.57%

    $11,271

$10,000
30 years

Cost over time

  • FPX 0.57%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530FPX $11,271

Year by year

YearFPX
10$1,023
20$3,921
30$11,271

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