- Business
- First Trust International Equity Opportunities ETF (FPXI) is an exchange-traded fund that seeks investment results corresponding generally to the price and yield (before the fund's fees and expenses) of the IPOX International Index, a modified, market capitalization-weighted, float-adjusted index comprising the 50 largest and typically most liquid developed markets companies (ex-U.S.) that have conducted an initial public offering and are publicly tradable within the last 1,000 trading days. The fund invests substantially all of its net assets in securities that comprise the underlying index, including depository receipts representing securities in the index; top holdings as of November 2025 include Advantest Corporation (11.45%), Arm Holdings plc (5.61%), Siemens Energy AG (4.86%), Agnico Eagle Mines Limited (4.80%), and Contemporary Amperex Technology Co., Ltd. (Class H) (4.52%), spanning sectors such as information technology, industrials, materials, health care, and consumer discretionary. With approximately 50 holdings (excluding cash), a net expense ratio of 0.70%, and assets under management of around $151 million, FPXI provides targeted exposure to international IPO-related equities for investors seeking growth opportunities outside the United States.
FPXI was launched on November 4, 2014 (originally as First Trust International IPO ETF; name changed effective January 2, 2019, without alteration to the index methodology or ticker) and is issued by First Trust Portfolios L.P., with investment advisory services provided by First Trust Advisors L.P., a privately held firm founded in 1991 and headquartered in Wheaton, Illinois. The fund operates globally across developed markets ex-U.S., including holdings listed on exchanges in Japan, the United Kingdom, Germany, Canada, Hong Kong, Sweden, Switzerland, and others, targeting institutional and retail investors through Nasdaq trading.
In recent developments, First Trust Advisors L.P. announced on October 30, 2025, proposed reorganizations of four Vest Financial LLC-managed funds into corresponding First Trust funds (including bitcoin strategy and hedged equity strategies), subject to shareholder approval, reflecting ongoing portfolio consolidation and strategic expansion efforts; these follow the October 2024 completion of similar reorganizations involving WCM funds into First Trust products. The firm has also maintained steady quarterly distributions for FPXI, with the latest declaration of $0.2987 per share (as of late 2025), amid assets under management or supervision reaching approximately $299 billion across its ETF, UIT, mutual fund, and SMA offerings as of September 30, 2025. No major acquisitions, partnerships, or index methodology shifts specific to FPXI were reported in the last 1-2 years.