First Trust Advisors’ First Trust International Equity Opportunities ETF (FPXI) has passed USD100 million in total net assets. FPXI seeks investment results that correspond generally to the price and yield (before the fund’s fees and expenses) of the IPOX International Index. The index measures the performance of the 50 largest and most liquid companies domiciled outside the US within the IPOX Global Composite Index.
The index is constructed and managed to provide a broad and objective view of global aftermarket performance of recent IPOs and spin-offs in both emerging and developed countries during their first 1000 trading days.
“We believe this strategy provides a compelling way for investors to gain exposure to some of the most innovative, non-US stocks in the world, many of which are also underrepresented in investors’ portfolios, in our opinion,” says Ryan Issakainen, CFA, Senior Vice President, ETF Strategist at First Trust.
Since its inception on 4 November, 2014, FPXI has achieved an average annual total return of 9.20 per cent based on net asset value (NAV) as of May 29, 2020, outperforming the international equity market as measured by the MSCI World ex USA Index (the “MSCI Index”) with a total return of 1.73 per cent over the same period. Additionally, FPXI has outperformed the MSCI Index over the 1, 3, and 5-year periods ending 29 May, 2020.
“Exposure to the IPOX International Index provides investors with a one stop solution to access the performance of the new generation of international stocks, often a unique proxy for 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 may benefit investors seeking equity exposure outside the traditional benchmarks.”