First Trust US Equity Opportunities ETF
$177.36−1.07 (−0.60%)
- 0.57%
- $1.5B
- +11.1%
- 0.18%
- 0M sh
- $180.60
- low $146.01high $206.18
The ETF.net FPX Grade
A
Score 77 out of 100
- 1 of 8
Score 77 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 100Rank 1 of 8Mission
Whether the fund did what it promised, tested against its stated mandate.D26 out of 100Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 5 of 8Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A87 out of 100Rank 1 of 8Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B69 out of 100Rank 1 of 7Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A84 out of 100Rank 1 of 8
Our read on FPX
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.
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 Holdings
- Other
- 100
- 48%
- SPCX
Sectors
- Technology31.2%
- Health Care22.2%
- Industrials16.9%
- Financials7.6%
- Communication6.4%
- Energy5.8%
- Consumer Discretionary4.4%
- Real Estate2.8%
- Consumer Staples1.7%
- Materials1.0%
Geography
- United States91.76%
- Singapore4.66%
- United Kingdom1.36%
- Bermuda1.26%
- Ireland0.96%
FPX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FPX$11,111
Returns run to the Oct 12, 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.
| Period | FPX |
|---|---|
| Year to date | +9.1% |
| 1 month | −1.1% |
| 3 months | −8.8% |
| 1 year | +11.1% |
| 3 years | +29.1% |
| 5 years | +7.7% |
| 10 years | +13.5% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FPX |
|---|---|---|
| 2026 YTD | +9.1% | |
| 2025 | +37.6% | |
| 2024 | +24.7% | |
| 2023 | +22.3% | |
| 2022 | −35.1% | |
| 2021 | +3.7% | |
| 2020 | +47.9% |
FPX in the news
FPX Dividends
- 0.18%
- $0.32
- $0.0054 per share
- Quarterly
Distribution history
FPX Risk
- 25.1%
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.
- 0.96
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.
- −43.1%
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.
- 1.53
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FPX Cost
0.57%
FPX0.57%
- The middle half of IPO & Spin-Off funds
- Median 0.70%
No IPO & Spin-Off fund charges less.
Other funds in IPO & Spin-Off
- BCSDInvesco S&P Spin-Off ETFExpense ratio 0.66%1 year return +40.2%
- BIPORenaissance IPO ETFExpense ratio 0.60%1 year return +5.7%
- CFPXIFirst Trust International Equity Opportunities ETFExpense ratio 0.70%1 year return +15.6%
- CFPXEFirst Trust IPOX Europe Equity Opportunities ETFExpense ratio 0.70%1 year return +2.4%
- DSPAQHorizon Kinetics SPAC Active ETFExpense ratio 0.85%1 year return +2.1%