FPXFirst Trust U.S. Equity Opportunities ETF
FPX Fund Description
FPX tracks a market-cap-weighted index of the 100 largest US IPOs over the first 1,000 trading days for each stock.
FPX Factset Analytics Insight
FPX holds positions in the 100 largest, and typically most liquid, US firms with recent IPOs. Eligible stocks are purchased after the close on the 6th trading day and sold on the 1000th, for a holding period of roughly 4 years. The fund applies further quantitative screens in addition to the usual de minimis size and liquidity requirements, but these are fairly relaxed. It is also market cap-weighted with a capping scheme of 10% for each individual security. See sibling funds FPXE and FPXI for Europe and broad international exposure, respectively, using the same methodology. Prior to December 14, 2016, the fund traded with the name First Trust US IPO Index ETF, however its name change bore no impact to FPX’s investment strategy. One caveat worth noting: In the case of an index constituent merging with or being acquired by a mature company, the resulting entity will remain included in the index.
FPX MSCI ESG Analytics Insight
First Trust U.S. Equity Opportunities ETF has an MSCI ESG Fund Rating of BBB based on a score of 5.61 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. First Trust U.S. Equity Opportunities ETF ranks in the 28th percentile within its peer group and in the 2nd percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
FPX MSCI FaCS and Factor Box
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.
FPX Summary Data
FPX Portfolio Data
FPX Index Data
FPX Portfolio Management
FPX Tax Exposures
FPX Fund Structure
FPX Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of FPX. FPX is rated a 5 out of 5.
FPX Sector/Industry Breakdown
FPX Top 10 Holdings[View All]
FPX Economic Development
FPX Performance Statistics
FPX MSCI ESG Ratings
FPX Benchmark Comparison Summary
FPX Benchmark Comparison Market Cap Size