IPOX® International Index
A portfolio of 50 of the largest and most liquid newly public companies outside the United States.
Available for licensing
Use this index in ETFs, mutual funds, structured products or as a benchmark.
Performance history
Total return · USD
As of October 22, 2026
Select dates or drag across the chart to zoom. Use + and − to adjust the range.
Total return performance, rebased at the start of the selected period.
About the index
The IPOX® International Index (IPXI) measures the performance of 50 of the largest and most liquid eligible companies domiciled outside the United States in the IPOX® new listings universe. The portfolio includes IPOs, spin-offs and select acquirers of recent IPOs across developed and emerging markets.
A portfolio across non-U.S. markets
Company domicile determines the index's geographic focus. Eligible businesses can trade on exchanges around the world, including in the United States, allowing the portfolio to reflect non-U.S. corporate activity across listing venues.
IPXI follows companies as they establish a public trading record. Its regional and sector composition evolves with new listings, changes in company size and corporate actions, providing a reference for this segment of international equities.
Construction and quarterly review
- Selection universe: Non-U.S. companies are drawn from the IPOX® Global Composite Index and ranked by market capitalization, subject to liquidity and exposure criteria.
- Listing window: The underlying composite generally follows new listings for 1,000 trading days, approximately four years; the rulebook addresses special cases and extended membership.
- Weighting: Modified market capitalization weights apply, with each constituent capped at 10% at rebalancing. Market movements can subsequently take weights above that level.
- Maintenance: Quarterly reviews in March, June, September and December update the portfolio.
Benchmarking and investment products
The First Trust International Equity Opportunities ETF (FPXI) seeks to track the index's price and yield performance before fees and expenses. IPXI is also available for licensing and benchmarking applications.
Use the dated fact sheet for portfolio statistics and performance, and Rulebook & Regulations for full methodology provisions. The IPOX® 100 Europe Index provides a more focused view of European new listings.