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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 12/1/2022
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's SAI for full details.
Current Fund Data (as of 6/2/2023)
Closing NAV1$43.29
Closing Market Price2$43.25
Bid/Ask Midpoint$43.27
Bid/Ask Discount0.05%
30-Day Median Bid/Ask Spread30.12%
Total Net Assets$218,625,727
Outstanding Shares5,050,002
Daily Volume34,547
Average 30-Day Daily Volume49,542
Closing Market Price 52-Week High/Low$50.05 / $38.16
Closing NAV 52-Week High/Low$50.05 / $38.12
Number of Holdings (excluding cash)226
Top Holdings (as of 6/2/2023)*
Holding Percent
XPO, Inc. 0.93%
Leonardo DRS, Inc. 0.89%
Toll Brothers, Inc. 0.89%
Owens Corning 0.88%
Radian Group Inc. 0.88%
MGIC Investment Corporation 0.87%
Taylor Morrison Home Corporation 0.87%
Essent Group Ltd. 0.86%
Louisiana-Pacific Corporation 0.84%
American Equity Investment Life Holding Company 0.83%

* 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 6/4/2023)4$0.1551
30-Day SEC Yield (as of 4/28/2023)51.94%
12-Month Distribution Rate (as of 4/28/2023)61.70%
Index Yield (as of 4/28/2023)73.09%
Fund Characteristics (as of 5/31/2023)9
Maximum Market Cap.$32,705
Median Market Cap.$4,943
Minimum Market Cap.$1,599
Price/Earnings6.54
Price/Book1.13
Price/Cash Flow4.80
Price/Sales0.64
Bid/Ask Premium/Discount (as of 6/2/2023)
  2022 Q1 2023 Q2 2023 Q3 2023
Days Traded at Premium 123 31 1 ---
Days Traded at Discount 128 31 42 ---
Top Sector Exposure (as of 6/2/2023)
Financials 27.43%
Consumer Discretionary 16.12%
Industrials 15.48%
Materials 7.73%
Information Technology 7.00%
Energy 6.66%
Real Estate 4.78%
Health Care 4.68%
Utilities 3.76%
Consumer Staples 3.42%
Communication Services 2.94%
Hypothetical Growth of $10,000 Since Inception (as of 6/1/2023) *