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
135.6 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) | $136 |
| 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 +
| ARM HOLDINGS PLC | 7.3 % |
| SPOTIFY TECHNOLOGY SA | 6.6 % |
| NORDNET AB (PUBL) | 6.6 % |
| MONDAY.COM LTD. | 4.6 % |
| ARISTOCRAT LEISURE LTD | 4.0 % |
| SANDOZ GROUP AG | 3.9 % |
| INPOST S.A. | 3.8 % |
| UCB SA | 3.6 % |
| GENESIS HEALTHCARE INC CLASS A | 3.6 % |
| NU HOLDINGS LTD. CLASS A | 3.4 % |
Constituent Breakdown
| Number of holdings | 60 |
| Herfindahl-Hirschman Index | 344 |
| Wgt avg mkt cap (mns) | $36,207 |
| Large cap (>$10bn) | 63.7% |
| Mid cap ($2-10bn) | 29.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 87.2% |
| Emerging mkts. | 11.6% |
Country Exposure
 |
CANADA | 8.8 % |
 |
BRITAIN | 8.4 % |
 |
JAPAN | 6.9 % |
 |
LUXEMBOURG | 6.6 % |
 |
UNITED STATES | 6.4 % |
 |
SWITZERLAND | 6.1 % |
 |
ISRAEL | 5.5 % |
 |
SOUTH KOREA | 4.2 % |
 |
AUSTRALIA | 4.0 % |
 |
CHINA | 3.9 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 18.0% | 20.3% | 12.7% | -5.9% | 6.0% | -- | 6.6% | Volatility | 17.6% | 17.2% | 18.1% | 20.8% | 23.7% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.89 | 54% |
| MSCI EAFE | 0.95 | 62% |
| MSCI Emg Mkts | 0.98 | 66% |
Liquidity Measures
| Avg. volume (000) | 12 |
| Turnover | 0.4% |
| Avg. Bid/Ask (% of price) | 0.36% |
| ADV of underlying (mns) | $4,930 |
Technical Indicators
| Recent close | $47.58 |
| 30d moving avg. | $49.68 |
| Annualized volatility | 21.1% |
| Relative strength (RSI) | 51 |
| Short interest (ETF) | 2.1% |
| Short interest (underlying) | 0.0% |
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. FPXI |
Expenses vs. FPXI |
ALTAR Score™ vs. FPXI |
|---|---|---|---|---|
| FPXE | First Trust IPOX Europe Equity Opportunities ETF | 42.0% | 0 bp | -1.3% |
| IPO | Renaissance IPO ETF | 13.0% | -10 bp | -9.2% |
| BNGE | First Trust S-Network Streaming and Gaming ETF | 10.4% | 0 bp | -8.4% |
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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 12/18/2024
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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
FPXI
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
5.0%
Cat. Avg
7.5%
ALTAR Score™ Calculation
Category Overview
There are 267 funds in the International Equity category, with an average ALTAR Score™
of 7.5% and a standard deviation of
2.7%. FPXI's ALTAR Score™ is approximately
0.9 standard deviations
below
the category average. This places FPXI in the 17th 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 |
| FPXI (70 bp) Percentile rank | 87 |
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 | 35.6 | 105.6 |
| Peer Avg. | 42.6 | 27.0 | 69.6 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .