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First Trust US Equity Opportunities ETF (FPX) exceeds USD1 billion in net assets


Net assets for the First Trust US Equity Opportunities ETF (FPX) (formerly First Trust US IPO Index Fund) now exceed USD1 billion.

FPX is an ETF with an investment objective to seek investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of the IPOX®-100 US Index (the “index”). The index measures the performance of the top US companies ranked quarterly by market cap in the IPOX® Global Composite Index (the “composite index”). The index includes the 100 largest IPOs in the composite index. The index tilts toward mid- and large-cap stocks and has historically captured approximately 85 per cent of total market capitalisation created through US IPO activity, according to IPOX Schuster, LLC.
“Over the years, FPX has benefitted from its exposure to the innovation and growth of many recently issued stocks, long before they were added to traditional index funds. We believe this unique strategy’s focus on recent IPOs and spin-offs is an important key to its success,” says Ryan Issakainen, CFA, Senior Vice President, ETF Strategist at First Trust.
Since its inception on 12 April, 2006, FPX has achieved an average annual total return of 11.96 per cent based on net asset value (NAV) as of December 29, 2017, outperforming the overall US equity market as measured by the S&P 500 Index and the Russell 3000® Index with a total return of 8.71 per cent and 8.69 per cent, respectively, over the same period. In addition, the fund has received an Overall Morningstar RatingTM of four stars, as of December 31, 2017, among 1,216 funds in the Large Growth category. The fund was rated 3 stars/1,216 funds (3 years), 4 stars/1,109 funds (5 years) and 5 stars/787 funds (10 years).
“Exposure to the IPOX 100 US Index provides investors with a diversified, one stop solution to access the performance of the largest and typically best performing US IPOs and spin-offs, an economically significant group of companies which often serve as a proxy for economic growth and innovation,” says Dr Josef Schuster, CEO of IPOX Schuster LLC, the developer and sponsor of the index. “We are confident that the unique investment approach we have pioneered will continue to benefit investors seeking equity exposure outside the traditional benchmarks.”

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