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First Trust Mid Cap Value AlphaDEX® Fund (FNK)
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
TickerFNK
Fund TypeMid Cap Value
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
CUSIP33737M201
ISINUS33737M2017
Intraday NAVFNKIV
Fiscal Year-End07/31
ExchangeNasdaq
Inception4/19/2011
Inception Price$20.06
Inception NAV$20.06
Rebalance FrequencyQuarterly
Expense Ratio*0.70%
* As of 12/1/2023
Current Fund Data (as of 5/28/2024)
Closing NAV1$52.25
Closing Market Price2$52.22
Bid/Ask Midpoint$52.25
Bid/Ask Premium0.00%
30-Day Median Bid/Ask Spread30.13%
Total Net Assets$219,432,038
Outstanding Shares4,200,002
Daily Volume16,424
Average 30-Day Daily Volume20,376
Closing Market Price 52-Week High/Low$54.15 / $41.22
Closing NAV 52-Week High/Low$54.13 / $41.29
Number of Holdings (excluding cash)225
Top Holdings (as of 5/24/2024)*
Holding Percent
Apartment Income REIT Corp. 0.91%
Liberty Energy Inc. (Class A) 0.87%
Avnet, Inc. 0.84%
Matson, Inc. 0.82%
Group 1 Automotive, Inc. 0.80%
National Fuel Gas Company 0.79%
Range Resources Corporation 0.79%
Seaboard Corporation 0.79%
Signet Jewelers Limited 0.78%
Arrow Electronics, Inc. 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 5/29/2024)4$0.1139
30-Day SEC Yield (as of 4/30/2024)51.52%
12-Month Distribution Rate (as of 4/30/2024)61.69%
Index Yield (as of 4/30/2024)72.38%
Fund Characteristics (as of 4/30/2024)8
Maximum Market Cap.$16,567
Median Market Cap.$5,655
Minimum Market Cap.$2,071
Price/Earnings9.65
Price/Book1.33
Price/Cash Flow6.40
Price/Sales0.85
Bid/Ask Premium/Discount (as of 5/28/2024)
  2023 Q1 2024 Q2 2024 Q3 2024
Days Traded at Premium 74 24 9 ---
Days Traded at Discount 176 37 32 ---
Top Sector Exposure (as of 5/28/2024)
Financials 22.80%
Consumer Discretionary 17.08%
Energy 14.79%
Industrials 14.40%
Utilities 6.95%
Materials 6.82%
Information Technology 5.30%
Health Care 4.18%
Real Estate 2.91%
Consumer Staples 2.44%
Communication Services 2.33%
Hypothetical Growth of $10,000 Since Inception (as of 5/28/2024) *