First Trust IPOX Europe Equity Opportunities ETF (FPXE) Performance
FPXE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.7% since Dec 31, 2025
- 1 year
- −0.9% total return
- 5 years
- +0.6% a year
- Since first price
- +7.6% a year since 2018
FPXE trailing returns vs SPY, QQQ, AGG
| Period | FPXE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −6.2% | −6.5% | −1.0% | −5.0% | +0.9% |
| 3 months | −6.5% | −6.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −8.2% | −9.4% | +7.8% | +8.4% | −1.5% |
| YTD | −0.7% | −2.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −0.9% | −2.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +64.7%+18.1%/yr | +55.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +2.9%+0.6%/yr | −5.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionOct 5, 2018 | +79.7%+7.6%/yr | +57.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FPXE vs SPY
From Oct 5, 2018: FPXE grew to $17,971, SPY to $29,762.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FPXE returns by calendar year
6 of 7 full years positive. Best 2020 (+35.0%), worst 2022 (−35.1%). 2026 is year to date.
FPXE annual returns table
| Year | FPXE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −0.7% | −14.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +24.5% | −19.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.3% | −10.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +14.4% | −14.8% | +26.2% | +54.9% | +5.7% |
| 2022 | −35.1% | −46.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +9.0% | −13.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +35.0% | −30.6% | +18.3% | +48.6% | +7.5% |
| 2019 | +34.6% | −5.2% | +31.2% | +39.0% | +8.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FPXE largest drawdowns
Now 14.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Sep 2, 2021 | −49.5% | Oct 12, 2022 | Jul 9, 2025 | 1.1 years | 3.8 years |
| Feb 18, 2020 | −30.6% | Mar 16, 2020 | Jun 1, 2020 | 27 days | 3 months |
| Oct 5, 2018 | −15.6% | Dec 21, 2018 | Mar 20, 2019 | 3 months | 5 months |
| Jun 18, 2026 | −14.3% | Oct 23, 2026 | not yet | 4 months | 4 months so far |
| Feb 16, 2021 | −13.8% | Mar 8, 2021 | Jul 22, 2021 | 20 days | 5 months |
| Feb 25, 2026 | −11.3% | Mar 20, 2026 | Apr 13, 2026 | 23 days | 47 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FPXE risk statistics
| Statistic | 3 years | 5 years | Since 2018 |
|---|---|---|---|
| Annualized return | +17.7% | +2.7% | +9.4% |
| Volatility (annualized) | 16.2% | 20.6% | 20.0% |
| Sharpe ratio | 0.83 | 0.06 | 0.42 |
| Sortino ratio | 1.52 | 0.08 | 0.63 |
| Best month | +9.7% | +13.6% | +13.6% |
| Worst month | −6.6% | −14.8% | −14.8% |
| Best 12 months | +34.7% | +34.7% | +53.7% |
| Worst 12 months | +1.0% | −43.3% | −43.3% |
| Positive months | 61% | 57% | 60% |
| Beta vs S&P 500 | 1.02 | 1.13 | — |
| Correlation with S&P 500 | 0.79 | 0.86 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FPXE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 85 | −43.3% | +17.4% | +53.7% | 80% |
| 3-year (a year) | 61 | −6.8% | +2.9% | +26.0% | 61% |
| 5-year (a year) | 37 | +0.8% | +6.3% | +8.6% | 100% |
Every holding period starting at a month-end since 2018. Returns for 3 years and longer are annualized.
FPXE performance overview
First Trust IPOX Europe Equity Opportunities ETF (FPXE) returned −0.9% over the past year and +0.6% a year over five years, with distributions reinvested. Since its first recorded price in 2018 it has returned +7.6% a year, turning $10,000 into about $17,971. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −49.5%, from Sep 2, 2021 to Oct 12, 2022, and it took 2.7 years to get back to the old high. FPXE finished 6 of its 7 full calendar years with a gain; the best year was 2020 (+35.0%) and the worst 2022 (−35.1%). Volatility has been 20.0% a year.
Related: FPXE chart, FPXE holdings, FPXE dividends. See the FPXE overview for the latest quote and fund facts.
FPXE performance FAQ
What is the FPXE return over the past year?
FPXE returned −0.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.5%.
What is the average annual return of FPXE?
FPXE has returned +0.6% a year over 5 years, +7.6% a year since October 5, 2018 (total return, distributions reinvested).
How much would $10,000 invested in FPXE be worth?
$10,000 invested in FPXE at its first recorded close on October 5, 2018 would be worth about $17,971 on October 23, 2026 with distributions reinvested.
What was the worst year for FPXE?
The worst calendar year was 2022, with a total return of −35.1%. The best was 2020 at +35.0%.
What is the biggest drawdown of FPXE?
The largest peak-to-trough decline was −49.5% between September 2, 2021 and October 12, 2022. It recovered to the old high on July 9, 2025, 2.7 years after the bottom.
How volatile is FPXE?
Over the past 3 years FPXE had an annualized volatility of 16.2% and a Sharpe ratio of 0.83 (excess return over 1–3 month T-bills per unit of risk).