This ETF is one of many products offering exposure to the developed economies of Western Europe, an asset class that includes many of the world's largest stocks markets and is often a core holding within long-term, buy-and-hold portfolios. As such, FEP may be appealing to both investors with a long-term focus and to those looking to establish a shorter-term tactical tilt towards European stock markets. FEP is unique from other options in the Europe Equities ETFdb Category thanks to the methodology of the underlying index; this fund seeks to replicate an AlphaDEX benchmark that employs a quant-based screening system designed to select the component stocks with the greatest potential for capital appreciation. In exchange for this attempt to generate alpha relative to cap-weighted benchmarks, investors can expect to pay a bit more; FEP has an expense ratio quite a bit higher than low cost options for European exposure such as VGK. For those who believe that the AlphaDEX methodology has the ability to generate excess returns over the long run, this ETF might be the optimal way to establish exposure to European stock markets. Those looking to minimize costs or who believe in fully efficient markets may prefer cheaper options such as VGK or FEZ.