First Trust US Equity Opportunities ETF
$180.22−2.56 (−1.40%)
- Expense ratio
- 0.57%
- Fund size
- $1.5B
- 1Y return
- +10.5%
- Yield · Last 12 months
- 0.47%
- Holdings
- 100
- Volume · 30D
- 0M sh
- NAV per share
- $181.09
- 52W range
The ETF.net FPX Grade
Score 77 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 88Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.DScore 33Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 48Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 90Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.BScore 69Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 84Category rank
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
- 46%
- GEV
Sectors
- Technology31.2%
- Industrials18.7%
- Health Care16.5%
- Communication9.5%
- Financials6.3%
- Energy5.4%
- Real Estate3.1%
- Consumer Discr.3.1%
- Cons. Staples2.8%
- Materials2.0%
- Utilities1.5%
Geography
- United States91.00%
- Singapore5.15%
- United Kingdom1.57%
- Bermuda1.25%
- Ireland1.03%
FPX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | +11.8% |
| 1 month | −0.6% |
| 3 months | −9.7% |
| 1 year | +10.5% |
| 3 years | +31.1% |
| 5 years | +7.7% |
| 10 years | +13.4% |
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 | +11.8% | |
| 2025 | +37.6% | |
| 2024 | +24.7% | |
| 2023 | +22.3% | |
| 2022 | −35.1% | |
| 2021 | +3.7% | |
| 2020 | +47.9% |
FPX in the news
ETF.net Research hasn’t filed on FPX yet — coverage lands here as it’s written.
FPX Dividends
- 0.47%
- $0.85
- $0.0054 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 25, 2026 | Jun 30, 2026 | $0.0054 |
| Mar 26, 2026 | Mar 31, 2026 | $0.08 |
| Dec 12, 2025 | Dec 31, 2025 | $0.23 |
| Sep 25, 2025 | Sep 30, 2025 | $0.53 |
| Jun 26, 2025 | Jun 30, 2025 | $0.09 |
| Mar 27, 2025 | Mar 31, 2025 | $0.0074 |
| Dec 13, 2024 | Dec 31, 2024 | $0.10 |
| Mar 21, 2024 | Mar 28, 2024 | $0.01 |
| Dec 22, 2023 | Dec 29, 2023 | $0.02 |
| Sep 22, 2023 | Sep 29, 2023 | $0.06 |
| Jun 27, 2023 | Jun 30, 2023 | $0.05 |
| Mar 24, 2023 | Mar 31, 2023 | $0.14 |
FPX Risk
- 25.4%
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.
- 0.90
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
- The middle half of IPO & Spin-Off funds
- Median 0.70%
No IPO & Spin-Off fund charges less.