Home Logon FTA Investment Managers Blog Subscribe About Us Contact Us

Search by Ticker, Keyword or CUSIP       
First Trust Mid Cap Value AlphaDEX® Fund (FNK)
  • 2023 Estimated Capital Gain Distributions
    Please note that none of our First Trust Exchange-Traded Funds are expected to pay a special long-term capital gain distribution in December. Also, none of the First Trust Exchange-Traded Funds are expected to pay any special short-term capital gain distributions in December. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - The First Trust Mid 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 the Fund's fees and expenses, of an equity index called the Nasdaq AlphaDEX® Mid 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 from the Nasdaq US 600 Mid Cap Value Index that meet certain criteria.
  • Nasdaq constructs the Index by ranking the eligible stocks from the Nasdaq US 600 Mid Cap Value 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 225 stocks 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 and the top ranked quintiles receive a higher weight within the index. The stocks are equally-weighted within each quintile.
  • The Index is reconstituted and rebalanced quarterly.
Fund Overview
Fund TypeMid Cap Value
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End07/31
Inception Price$20.06
Inception NAV$20.06
Rebalance FrequencyQuarterly
Expense Ratio*0.70%
* As of 12/1/2023
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 12/1/2023)
Closing NAV1$47.35
Closing Market Price2$47.39
Bid/Ask Midpoint$47.34
Bid/Ask Discount0.02%
30-Day Median Bid/Ask Spread30.11%
Total Net Assets$220,173,301
Outstanding Shares4,650,002
Daily Volume10,347
Average 30-Day Daily Volume34,245
Closing Market Price 52-Week High/Low$50.05 / $40.99
Closing NAV 52-Week High/Low$50.05 / $41.00
Number of Holdings (excluding cash)226
Top Holdings (as of 12/1/2023)*
Holding Percent
Macy's, Inc. 1.03%
Frontier Communications Parent, Inc. 1.00%
Amkor Technology, Inc. 0.88%
Meritage Homes Corporation 0.84%
Toll Brothers, Inc. 0.83%
KB Home 0.82%
M.D.C. Holdings, Inc. 0.78%
Penn Entertainment Inc. 0.78%
United States Steel Corporation 0.78%
Taylor Morrison Home Corporation 0.77%

* 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 12/4/2023)4$0.2120
30-Day SEC Yield (as of 10/31/2023)52.11%
12-Month Distribution Rate (as of 10/31/2023)61.90%
Index Yield (as of 10/31/2023)73.13%
Fund Characteristics (as of 11/30/2023)8
Maximum Market Cap.$13,270
Median Market Cap.$5,278
Minimum Market Cap.$1,342
Price/Cash Flow5.59
Bid/Ask Premium/Discount (as of 12/1/2023)
  2022 Q1 2023 Q2 2023 Q3 2023
Days Traded at Premium 123 31 3 15
Days Traded at Discount 128 31 59 48
Top Sector Exposure (as of 12/1/2023)
Financials 25.11%
Consumer Discretionary 21.83%
Industrials 12.47%
Energy 9.89%
Materials 7.89%
Information Technology 4.60%
Utilities 4.49%
Real Estate 4.03%
Health Care 3.81%
Communication Services 3.31%
Consumer Staples 2.42%
Hypothetical Growth of $10,000 Since Inception (as of 12/1/2023) *