FPXI vs SPY
First Trust International Equity Opportunities ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FPXI or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. FPXI led over 3Y, SPY over 1Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 52.3%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FPXI | SPY |
|---|---|---|
| Expense Ratio | 0.70% | 0.09%Best |
| AUM | $290M | $804.7B |
| Dividend Yield | 0.66% | 0.98% |
| Holdings | 63 | 505 |
| YTD Return | +15.00%Best | +11.52% |
| 1Y Return | +17.07% | +17.48%Best |
| 3Y Return (annualized) | +21.19%Best | +20.62% |
| 5Y Return (annualized) | +0.93% | +12.73%Best |
| Volatility (annualized) | 20.3% | 15.0%Best |
| Max Drawdown | -55.8% | -34.1%Best |
| $10,000 over 5 years | $10,474 | $18,205Best |
| Top 10 Weight | 52.3% | 38.0%Best |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Nov 4, 2014 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 7, 2014 to Sep 10, 2026 (11.8 years).
FPXI vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 11.8 years both funds cover.
FPXI vs SPY Performance
First Trust International Equity Opportunities ETF (FPXI) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FPXI returned +17.07% while SPY returned +17.48%. Year to date, FPXI is up 15.00% versus a gain of 11.52% for SPY.
Over three years, FPXI compounded at +21.19% per year against +20.62% for SPY; over five years the annualized figures are +0.93% and +12.73% respectively. Across the full 12-year window we track, SPY has the edge at +12.45% annualized vs +7.74%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FPXI has been the more volatile fund, with annualized monthly volatility of 20.3% compared with 15.0% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -55.8% for FPXI and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FPXI charges 0.70% per year while SPY charges 0.09%. On a $10,000 position that is $70 vs $9 annually, a gap of $61 per year that compounds over a long holding period. On income, FPXI currently yields 0.66% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 51 holdings in FPXI and 504 in SPY, totalling 99.7% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 51 positions we hold weights for in FPXI and 504 in SPY, against full books of 63 and 505.
What only one of them owns
Our book lists 494 positions for SPY that do not appear in our book for FPXI (99.5% of the fund), and 4 for FPXI that do not appear in SPY (10.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of FPXI and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FPXI or SPY?
FPXI has an expense ratio of 0.70% while SPY charges 0.09%. SPY is the cheaper option, by $61 a year on a $10,000 investment.
Which performed better, FPXI or SPY?
Over the past year FPXI returned +17.07% vs +17.48% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (12 years), FPXI annualized +7.74% vs +12.45% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FPXI or SPY?
FPXI has been the more volatile fund at 20.3% annualized versus 15.0% for SPY. Worst drawdown: FPXI -55.8% vs SPY -34.1%.
Should I hold both FPXI and SPY?
FPXI and SPY have a monthly-return correlation of 0.70, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FPXI or SPY?
FPXI yields 0.66% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than FPXI?
SPY has a lower expense ratio. FPXI led over 3Y, SPY over 1Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 52.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.