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FPXE
+0.46 · +2.28%
£20.45 · LSE
First Trust IPOX® Europe Equity Opportunities UCITS ETF GBP | Europe Flex-Cap Equity
First Trust Global Portfolios Management Limited · Ireland
AUM:£1.2M
#– of – in Europe Flex-Cap Equity ETFs
ℹ️
Reward Rating
57
Good
8.69% 1Y return
ℹ️
Risk Rating
53
Elevated
Risk Assessment
ℹ️

Educational tool only – Scores are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

📈 Up 8.7% over the past year, showing positive momentum.

Cost Efficiency

Ongoing charge of 0.65% — moderate cost. Consider how fees compound over long holding periods.

What is FPXE?

First Trust IPOX® Europe Equity Opportunities UCITS ETF GBP tracks Morningstar DM Eur TME NR EUR, providing diversified exposure across 49 holdings. Its ongoing charge is 0.65%.

Performance Highlights

Investment Breakdown

Positive 1-Year Return
FPXE returned 8.7% over the past year. Historical returns only — past performance is not indicative of future results.
Moderate Cost
Ongoing charge of 0.65%. Consider how fees compound over a long holding period.
Moderate Concentration
Top 10 holdings make up 41.4% of the ETF — a moderate level of name concentration.

Openbook Analysis

Performance: Good (57)

The scoring profile reflects moderate historical performance, with a 8.7% 1-year return (historical). The ongoing charge of 0.65% should be considered against long-term return expectations. Risk indicators are elevated — volatility warrants consideration (historical).

For informational and educational purposes only. Not financial advice. Past performance is not indicative of future results.

ETF Information
AUM£1.2M
Ongoing Charge0.65%
Dividend Yield0.00%
Holdings49
Inception DateJun 2021
DomicileIreland
Distribution–
IndexMorningstar DM Eur TME NR EUR
ProviderFirst Trust Global Portfolios Management Limited
Beta–
CategoryEurope Flex-Cap Equity
CurrencyGBX
Portfolio Impact

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Example preview
6168
+7 points · better diversified
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Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
+15.7%
1Y
+21.8%
3Y
+64.3%
5Y
+32.2%
OpenBook InsightIf you had invested £10,000 in FPXE 5 years ago, it would have grown to £13,220 — a gain of £3,220.

Annual Returns

Calendar year performance

FPXE delivered positive returns in 4 of the last 5 calendar years.
YearFPXE
2026 YTD+14.5%
2025+13.1%
2024+19.5%
2023+8.0%
2022-25.9%
CAGR 4yr+2.0%
4/5 positive yearsAvg return: +5.8%Worst year: -25.9% (2022)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: POSITIVE
Trend Strength
100%
Positive
Volatility
20.8%
Moderate
Momentum
+7.4%
30-day change
Support Level
21.27
Key floor
Key Insights
  • Price is currently trading above all key moving averages.
  • Monitor key support and resistance levels as part of broader risk assessment.

Reward Rating Breakdown

Our reward rating analyses FPXE's attractiveness using 4 weighted factors. Each factor is scored 0-100, then combined using the weights shown below. Past performance does not guarantee future results.

Overall Reward Rating
57
Good REWARD
Data Coverage: %
Factor Framework
Performance
Has the ETF delivered strong historical returns versus similar ETFs?
Cost Efficiency
Is the ETF cheap to own over long periods?
Income
Does it provide attractive and consistent distributions?
Diversification Quality
Does it spread exposure across holdings, sectors, and regions?

📈 Performance

Weight: 30%
48/100

Has the ETF delivered strong historical returns versus similar ETFs? Combines 1/3/5/10-year returns with the Sharpe ratio (risk-adjusted return).

1Y Return
8.69%
Neutral
3Y Return
13.83%
Very Good
5Y Return
0.00%
Weak
10Y Return
0.00%
Weak
Sharpe Ratio
—
No Data

Moderate performance profile: 1-year return of 8.69%, 3-year annualised 13.83%, 5-year annualised 0.00%. Past performance is not indicative of future results.

💰 Cost Efficiency

Weight: 30%
73/100

Is the ETF cheap to own over long periods? Low ongoing charges compound into meaningful additional returns over a 10-year horizon.

Ongoing Charge
0.65%
Very Weak
Net Expense Ratio
0.00%
Very Good
Annual Turnover
0.00%
Very Good
Tracking Difference
—
No Data

Low-cost and efficient structure: ongoing charge of 0.65%, net expense ratio of 0.00%, annual turnover of 0.0%.

💵 Income

Weight: 15%
Not applicable

This is an accumulating ETF. It reinvests distributions inside the fund rather than paying cash to unit-holders, so income metrics don't apply. Reward is scored on the other three factors with the 15% income weight redistributed proportionally.

🌐 Diversification Quality

Weight: 25%
49/100

Does the ETF spread exposure across many holdings, sectors, and regions? Concentrated funds can be doing exactly what they're meant to do — treat the score as context, not a verdict.

Holdings
49
Very Weak
Top 10 Concentration
41.41%
Weak
Top Sector
Healthcare19.9%
Good
Top Region
Europe Developed74.9%
Neutral

Concentrated but typical for its category: 49 holdings, top 10 at 41.4%, Healthcare sector at 19.9%, Europe Developed at 74.9%.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Past performance is not indicative of future results.

Risk Rating Breakdown

Our risk rating analyses FPXE using 4 weighted factors. A higher score indicates higher risk. This is a framework for understanding exposure — concentrated funds can still be doing exactly what they're meant to do.

Overall Risk Rating
53
Elevated RISK
Data Coverage: 75%
Factor Framework
Holdings Concentration
How much of the fund sits in its largest positions? Few dominant names mean returns ride on those companies.
Market Exposure
Geographic, sector and cyclical dependencies. High single-country or single-sector weight increases macro sensitivity.
Volatility
Historical price movement, beta and drawdowns — how sharply the fund moves relative to the market.
Income Reliability
How dependable the distribution yield is — cyclical-sector dependency and unusually high yields can flag payout risk.

🎯 Holdings Concentration

Weight: 25%
48/100

How much of the fund sits in a small number of positions? If the top holdings dominate, returns will be driven by those specific companies rather than the broader index.

Top 10 Weight
41.41%
Moderate
Largest Holding
6.79%
Moderate
Number of Holdings
49
Elevated
HHI (weight²)
188
Low Risk

Reasonable spread across positions: top 10 holdings at 41.4%, largest single position at 6.79%, 49 total holdings.

🌍 Market Exposure

Weight: 25%
54/100

How dependent is the fund on a single country, sector or economic cycle? Heavy exposure to one market means a single macro event can drive most of the return.

Top Region
Europe Developed74.9%
Moderate
Top Sector
Healthcare19.9%
Lower Risk
Top 2 Sectors
38.14%
Moderate
Cyclical Sectors
51.75%
Elevated

Notable regional or sector dependency: Europe Developed at 74.9%, Healthcare sector at 19.9%, 51.7% in cyclical sectors.

📊 Volatility

Weight: 35%
55/100

How sharply does the fund move day-to-day and how deep have its drawdowns been? High volatility means wider return outcomes over short horizons.

1Y Volatility
14.57%
Lower Risk
Beta
—
No Data
Max Drawdown
—
No Data

Elevated volatility profile: 1Y volatility of 14.57% (historical).

💵 Income Reliability

Weight: 15%
Not applicable

This is an accumulating ETF. Distributions are reinvested inside the fund, so there's no dividend-reliability risk to assess. The 15% income weight is redistributed to the other three factors.

Scores are derived from fund-provider disclosures and historical data. For informational and educational purposes only — not investment advice. Risk scoring is model-based and past data does not guarantee future results.
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