First Trust US Equity Opportunities ETF (FPX)
Investment Objective/Strategy - The First Trust US Equity Opportunities ETF (the "Fund"), formerly First Trust US IPO Index Fund, seeks investment results that correspond generally to the price and yield (before the Fund's fees and expenses) of an equity index called the IPOX®-100 U.S. Index. The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks that comprise the Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The IPOX®-100 U.S. Index is a modified value-weighted price index measuring the performance of the top 100 companies ranked quarterly by market capitalization in the IPOX® Global Composite Index.
  • The index utilizes a 10% capping on all constituents and includes the 100 largest, typically best performing and most liquid U.S. public offerings ("IPOs") in the IPOX® Global Composite Index.
  • Index constituents are selected based on quantitative initial screens. In general, eligible constituents are added on the sixth day of trading and remain eligible to be included in the Index for approximately four years.
  • The index is reconstituted and adjusted quarterly.
Potential Benefits of the First Trust US Equity Opportunities ETF
  • Systematic exposure to U.S. equity capital and private equity activity and the growth and innovativeness of the U.S. economy via a semi-passive indexing approach.
  • Based on well researched, totally disciplined and transparent index methodology. The IPOX®-100 U.S. Index has historically captured around 85% of total market capitalization created through U.S. IPO activity during the past four years. Tilt towards mid- and large-cap stocks.
  • Investment tool for buy-and-hold investors seeking timely and systematic IPO exposure as well as active market participants due to dynamic index properties.
Fund Overview
TickerFPX
Fund TypeGrowth
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
CUSIP336920103
ISINUS3369201039
Intraday NAVFPXIV
Fiscal Year-End12/31
ExchangeNYSE Arca
Inception4/12/2006
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.57%
Net Expense Ratio*0.57%
* As of 5/3/2021
Expenses are capped contractually at 0.60% per year, at least until April 30, 2022.
Current Fund Data (as of 5/12/2021)
Closing NAV1$110.77
Closing Market Price2$110.70
Bid/Ask Midpoint$110.75
Bid/Ask Discount0.02%
30-Day Median Bid/Ask Spread30.06%
Total Net Assets$1,772,397,190
Outstanding Shares16,000,002
Daily Volume140,473
Average 30-Day Daily Volume100,997
Closing Market Price 52-Week High/Low$135.98 / $74.87
Closing NAV 52-Week High/Low$136.02 / $74.81
Number of Holdings (excluding cash)100
Top Holdings (as of 5/12/2021)*
Holding Percent
Snap Inc. (Class A) 8.64%
Uber Technologies, Inc. 5.09%
Marvell Technology Inc. 4.68%
Dow Inc. 3.92%
Thermo Fisher Scientific Inc. 3.73%
Tradeweb Markets Inc. (Class A) 2.79%
Keurig Dr Pepper Inc. 2.77%
Corteva Inc. 2.57%
Dell Technologies Inc. (Class C) 2.45%
Corning Incorporated 2.29%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Fund Characteristics (as of 4/30/2021)4
Maximum Market Cap.$184,808
Median Market Cap.$12,167
Minimum Market Cap.$2,241
Price/Book5.58
Price/Sales3.53
Bid/Ask Premium/Discount (as of 5/12/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 120 35 5 ---
Days Traded at Discount 133 26 24 ---
Top Sector Exposure (as of 5/12/2021)
Information Technology 28.28%
Health Care 14.77%
Communication Services 13.99%
Industrials 11.99%
Consumer Discretionary 11.38%
Financials 7.78%
Materials 6.76%
Consumer Staples 3.69%
Real Estate 0.89%
Energy 0.47%
Hypothetical Growth of $10,000 Since Inception (as of 5/12/2021) *