FPXI vs SPY
First Trust International Equity Opportunities ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FPXI delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FPXI | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.70% | 0.09% | |
| AUM | $302M | $821.1B | |
| Dividend Yield | 0.67% | 1.01% | |
| Holdings | 61 | 505 | |
| YTD Return | +19.43% | +13.17% | |
| 1Y Return | +26.51% | +21.53% | |
| 3Y Return (annualized) | +23.46% | +22.06% | |
| 5Y Return (annualized) | +2.54% | +13.35% | |
| Volatility (annualized) | 20.4% | 15.3% | |
| Max Drawdown | -55.8% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 4, 2014 | Jan 22, 1993 |
FPXI vs SPY Performance
First Trust International Equity Opportunities ETF (FPXI) is a ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FPXI returned +26.51% while SPY returned +21.53%. Year to date, FPXI is up 19.43% versus a gain of 13.17% for SPY.
Over three years, FPXI compounded at +23.46% per year against +22.06% for SPY; over five years the annualized figures are +2.54% and +13.35% respectively. Across the full 12-year window we track, SPY has the edge at +8.82% annualized vs +8.12%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FPXI has been the more volatile fund, with annualized monthly volatility of 20.4% compared with 15.3% 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 -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
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 0.67% against 1.01% for SPY.
Holdings Overlap
FPXI and SPY share 0 holdings out of 555 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
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. On a $10,000 investment, that is $61 per year of difference.
Which performed better, FPXI or SPY?
Over the past year FPXI returned +26.51% vs +21.53% for SPY, so FPXI leads on 1-year performance. Over the longest common window we track (12 years), FPXI annualized +8.12% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, FPXI or SPY?
FPXI has been the more volatile fund at 20.4% annualized versus 15.3% for SPY. Worst drawdown: FPXI -55.8% vs SPY -56.5%.
Should I hold both FPXI and SPY?
FPXI and SPY have a monthly-return correlation of 0.70, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FPXI and SPY?
FPXI and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, FPXI or SPY?
FPXI yields 0.67% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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