##  [# Europe IPO ETF Launches](/sections/daily-etf-watch/europe-ipo-etf-launches) 

 

# Europe IPO ETF Launches

 

 

First Trust launches a companion fund to two existing ETFs.



 

 

 

 

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[By ETF.com Staff](/contributors/etfcom-staff)

 Oct 05, 2018

 Edited by: ETF.com Staff

 

 

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Today [First Trust](https://www.etf.com/topics/first-trust-etfs) is launching its third ETF focused on initial public offerings and using an index from IPOX, a firm specializing in IPO-related financial products. The [First Trust IPOX Europe Equity Opportunities ETF (FPXE)](https://www.sec.gov/Archives/edgar/data/1364608/000144554618004263/etf2_485b.htm) tracks an index of the 100 largest and most liquid European IPOs.

FPXE lists on the Nasdaq and comes with an expense ratio of 0.70%.

Eligible companies must be domiciled and listed in a developed market in Europe. Those that qualify for inclusion can be added after their sixth trading day and can remain in the index for 1,000 trading days from their initial listing.

The prospectus notes that companies with less than $50 million in market capitalization, less than 15% available free-float market capitalization or severe IPO underpricing issues are all excluded from consideration for the index.

From the remaining pool, the index methodology selects the 100 largest securities based on market capitalization. It also uses market-cap weighting, subject to caps on individual component weights, the prospectus says.

FPXE joins the $1.2 billion [First Trust U.S. Equity Opportunities ETF (FPX)](https://www.etf.com/fpx) and the $27.7 million [First Trust International IPO ETF (FPXI)](https://www.etf.com/fpxi).

*Contact Heather Bell at* [*hbell@etf.com*](mailto:hbell@etf.com)



 

 

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 Related Topics  [Equity](http://www.etf.com/topics/equity) 

 [Europe](http://www.etf.com/topics/europe) 

 [Broad-based](http://www.etf.com/topics/broad-based) 

 [First Trust](http://www.etf.com/topics/first-trust)