FPXE vs FPXI

FPXECFirst Trust IPOX Europe Equity Opportunities ETF

FPXICFirst Trust International Equity Opportunities ETF

In short

FPXE Europe's IPO class in one ticker. FPXE tracks the IPOX 100 Europe Index: a rules-based basket of recent European listings and spin-offs, no deal-picking. It's the Europe-only seat in First Trust's new-listings lineup.

FPXI The IPO trade, minus America. FPXI tracks the IPOX International Index, so recently listed companies from Europe and Asia arrive in one ticker instead of a brokerage scavenger hunt across foreign exchanges.

Stated mandate

FPXE The Fund seeks investment results that generally track the price and yield of the IPOX® 100 Europe Index before fees and expenses. It normally invests at least 90% of net assets in common stocks and depositary receipts in that Index.

FPXI The fund seeks to track, before fees and expenses, the price and yield performance of the IPOX® International Index.

Why people hold it

• FPXE The Europe-dedicated member of First Trust's new-listings family: FPX takes the US, FPXI goes international, FPXE keeps the map to Europe.ftportfolios.com
• Rules over hunches: it aims to track the IPOX 100 Europe Index and normally keeps at least 90% of net assets in that index's common stocks and depositary receipts.ftportfolios.com
• Roughly 100 names, so no single new listing carries the portfolio. That's a wide net for a theme that usually lives or dies on a handful of deals.
• Live since 2018, so there's a multi-year record to examine instead of a fresh-launch guess.

• FPXI The overseas seat in a corner of the market that is mostly US-focused: its peer shelf is dominated by American IPO and spin-off funds, while this one buys newly public names listed abroad.
• Rules-based, not a stock-picking hunch. An index decides which new listings go in and when they age out, so you are not tracking foreign IPO calendars yourself.
• Launched in 2014, so it has run through several very different IPO cycles, and it carries enough assets and daily volume to be a workable trade rather than a ghost ticker.
• Sits in the upper half of the IPO and spin-off group overall, helped by how smoothly it trades for a fund holding non-US stocks. Pays quarterly.

Worth knowing

• FPXE At 0.70% a year, it sits at the category median but above rivals such as FPX (0.57%), IPO (0.60%) and CSD (0.67%).
• A small asset base and light trading volume, so spreads tend to be wider than on headline ETFs and large orders can move the price.
• Distributions land once or twice a year, so this is a growth-shaped basket rather than a steady income line.

• FPXI 0.70% a year is the median price in this niche, but it runs above the fund's US-focused sibling FPX at 0.57%, and it is a thematic-fund fee, not an index-fund fee.
• About 60 stocks, all recently public. Individual names carry real weight, and freshly listed companies tend to move harder in both directions than seasoned large caps.
• Independent data on how closely the fund has hugged the IPOX International Index is thin, so its index fidelity is harder to verify than for mainstream benchmarks.

Full FPXE profile⁠

Full FPXI profile⁠