First Trust Multi Cap Value AlphaDEX® Fund (FAB)
Investment Objective/Strategy - The First Trust Multi Cap Value AlphaDEX® Fund is an exchange-traded fund. The investment objective of the Fund is to seek investment results that correspond generally to the price and yield, before fees and expenses, of an equity index called the Nasdaq AlphaDEX® Multi Cap Value Index.
There can be no assurance that the Fund's investment objectives will be achieved.
Index Description According to the Index Provider
  • The Index is an "enhanced" index created and administered by Nasdaq, Inc. ("Nasdaq") which employs the AlphaDEX® stock selection methodology to select stocks that meet certain criteria from the three indices – Nasdaq US 500 Large Cap Index, Nasdaq US 600 Mid Cap Index and Nasdaq US 700 Small Cap Index.
  • Nasdaq constructs the Index by ranking the eligible stocks within each index on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets. All stocks are ranked on the sum of ranks for the growth factors and, separately, all stocks are ranked on the sum of ranks for the value factors. A stock must have data for all growth and/or value factors to receive a rank for that style.
  • Each stock receives either its growth or value score as its selection score based on its style designation as determined by Nasdaq. Only those stocks designated as value stocks are eligible for the portfolio.
  • The top 187 stocks from the Nasdaq US 500 Large Cap Value Index, 225 stocks from the Nasdaq US 600 Mid Cap Value Index and 262 stocks from the Nasdaq US 700 Small Cap Value Index based on the selection score determined in the previous step comprise the "selected stocks".
  • The selected stocks are divided into quintiles based on their rankings within their size class and the top ranked quintiles receive a higher weight within the index.
  • The index is comprised of the selected stocks in the following weights: the stocks selected from the Nasdaq US 500 Large Cap Value Index comprise 50%, the stocks selected from the Nasdaq US 600 Mid Cap Value Index comprise 30%, and the stocks selected from the Nasdaq US 700 Small Cap Value Index comprise 20%.
  • The Index is reconstituted and rebalanced quarterly.
Fund Overview
Fund TypeMulti Cap Value
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End07/31
Inception Price$30.00
Inception NAV$30.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.67%
Net Expense Ratio*0.67%
* As of 12/1/2022
Expenses are capped contractually at 0.70% per year, at least through November 30, 2023. The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's Statement of Additional Information for full details.
Current Fund Data (as of 9/25/2023)
Closing NAV1$69.99
Closing Market Price2$69.97
Bid/Ask Midpoint$70.06
Bid/Ask Premium0.09%
30-Day Median Bid/Ask Spread30.15%
Total Net Assets$160,985,072
Outstanding Shares2,300,002
Daily Volume3,776
Average 30-Day Daily Volume6,781
Closing Market Price 52-Week High/Low$78.48 / $60.81
Closing NAV 52-Week High/Low$78.49 / $60.76
Number of Holdings (excluding cash)674
Top Holdings (as of 9/25/2023)*
Holding Percent
Marathon Petroleum Corporation 0.60%
Phillips 66 0.57%
Valero Energy Corporation 0.57%
Ovintiv Inc. 0.56%
Bunge Limited 0.53%
Marathon Oil Corporation 0.53%
Corebridge Financial, Inc. 0.52%
KeyCorp 0.52%
Packaging Corporation of America 0.52%
International Paper Company 0.50%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 9/26/2023)4$0.3758
30-Day SEC Yield (as of 8/31/2023)52.05%
Unsubsidized 30-Day SEC Yield (as of 8/31/2023)62.05%
12-Month Distribution Rate (as of 8/31/2023)71.90%
Index Yield (as of 8/31/2023)82.91%
Fund Characteristics (as of 8/31/2023)9
Maximum Market Cap.$1,726,945
Median Market Cap.$4,565
Minimum Market Cap.$455
Price/Cash Flow6.57
Bid/Ask Premium/Discount (as of 9/25/2023)