FPXI
First Trust International Equity Opportunities ETF
The First Trust International IPO ETF tracks a market-cap-weighted index of the 50-largest IPOs outside of the US over the first 1,000 trading days of each stock. Stocks must pass additional quantitative screens to be included.
International
EQUITY
Rules-Based
MANAGEMENT STYLE
152.1 M
ASSETS UNDER MGMT
70 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | International |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 04, 2014 |
| Assets (mns) | $152 |
| Expense ratio | 70 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| POP MART INTERNATIONAL GROUP LIMITED | 7.7 % |
| SPOTIFY TECHNOLOGY SA | 6.3 % |
| ARM HOLDINGS PLC | 6.1 % |
| GEN DIGITAL INC | 5.4 % |
| SIEMENS ENERGY AG | 4.9 % |
| ADVANTEST CORP | 4.0 % |
| AGNICO-EAGLE MINES LTD | 3.7 % |
| SICHUAN KELUN-BIOTECH BIOPHARMACEUTICAL | 3.5 % |
| KRAFTON, INC. | 3.0 % |
| NETEASE, INC | 2.9 % |
Constituent Breakdown
| Number of holdings | 60 |
| Herfindahl-Hirschman Index | 324 |
| Wgt avg mkt cap (mns) | $40,919 |
| Large cap (>$10bn) | 66.0% |
| Mid cap ($2-10bn) | 10.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 63.8% |
| Emerging mkts. | 19.1% |
Country Exposure
 |
CHINA | 12.1 % |
 |
UNITED STATES | 10.4 % |
 |
CANADA | 9.9 % |
 |
BRITAIN | 8.3 % |
 |
GERMANY | 6.4 % |
 |
LUXEMBOURG | 6.4 % |
 |
JAPAN | 6.0 % |
 |
NORWAY | 3.5 % |
 |
SOUTH KOREA | 3.5 % |
 |
SWITZERLAND | 2.9 % |
Historical Performance
Standardized Performance (as of 07/31/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 16.0% | 15.8% | 13.0% | 8.1% | -0.1% | 6.4% | -- | 5.8% |
| Dividend Yield | 0.0% | 0.1% | 0.6% | 0.7% | 0.6% | 1.0% | -- | 1.0% |
| Total Returns | 16.0% | 15.9% | 13.6% | 8.8% | 0.5% | 7.3% | -- | 6.8% | Ann. Volatility | 23.9% | 22.2% | 19.5% | 19.7% | 21.5% | 20.7% | -- | 20.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.09 | 65% |
| MSCI EAFE | 0.94 | 54% |
| MSCI Emg Mkts | 0.91 | 53% |
Liquidity Measures
| Avg. volume (000) | 6 |
| ADV traded (mns) | $0 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.36% |
Technical Indicators
| Recent close | $57.39 |
| 30d moving avg. | $55.84 |
| Annualized volatility | 20.8% |
| Relative strength (RSI) | 61 |
| Short interest | 0.1% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| FPXE | First Trust IPOX Europe Equity Opportunities ETF | 34.5% | 0 bp | +5.4% |
| FDNI | First Trust Dow Jones International Internet ETF | 11.2% | -5 bp | +21.0% |
| OND | ProShares On-Demand ETF | 11.0% | -12 bp | +0.7% |
Risk and Returns: FPXI vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 8/21/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
FPXI
4.4%
Cat. Avg
7.0%
ALTAR Score™ Calculation
Category Overview
There are 264 funds in the International Equity category, with an average ALTAR Score™
of 7.0% and a standard deviation of
1.8%. FPXI's ALTAR Score™ is approximately
1.4 standard deviations
below
the category average. This places FPXI in the 8th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
FPXISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based International Equity ETFs |
| # of ETFs | 152 |
| Avg. Expense Ratio | 42.9 bp |
| Std. Deviation | 24.3 bp |
| (70 bp) Percentile rank | 86 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FPXI | 70.0 | 0.0 | 70 |
| Peer Avg. | 52.5 | 62.6 | 115.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .