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First Trust Financials AlphaDEX® Fund (FXO)
Investment Objective/Strategy - The First Trust Financials 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 StrataQuant® Financials Index.
There can be no assurance that the Fund's investment objectives will be achieved.
Index Description According to the Index Provider
  • The StrataQuant® Financials Index is an "enhanced" index developed, maintained and sponsored by ICE Data Indices, LLC or its affiliates ("IDI") which employs the AlphaDEX® stock selection methodology to select stocks from the Russell 1000® Index.
  • IDI constructs the StrataQuant® Financials Index by ranking the stocks which are members of the Russell 1000® Index on growth factors including three, six 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.
  • Each stock receives either its growth or value score rank as its selection score based on its style designation as determined by Russell. Stocks which Russell allocates between both growth and value receive the better of their growth or value score rank as their selection score.
  • IDI then ranks those stocks contained in the financials sector according to their score. The greater of the top 75% of the eligible universe or 40 stocks is selected for the StrataQuant® Financials Index.
    • If the total count of eligible stocks in the financials sector falls below 40, all eligible stocks will be included.
  • 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 TypeFinancials
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End07/31
ExchangeNYSE Arca
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.62%
Net Expense Ratio*0.62%
* 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 SAI for full details.
Current Fund Data (as of 3/20/2023)
Closing NAV1$35.95
Closing Market Price2$35.93
Bid/Ask Midpoint$35.94
Bid/Ask Discount0.03%
30-Day Median Bid/Ask Spread30.05%
Total Net Assets$1,770,586,115
Outstanding Shares49,250,002
Daily Volume692,222
Average 30-Day Daily Volume1,600,569
Closing Market Price 52-Week High/Low$47.07 / $35.18
Closing NAV 52-Week High/Low$47.08 / $35.21
Number of Holdings (excluding cash)100
Top Holdings (as of 3/20/2023)*
Holding Percent
Janus Henderson Group Plc 2.04%
Everest Re Group, Ltd. 2.01%
Arch Capital Group Ltd. 2.00%
Evercore Inc. 2.00%
OneMain Holdings, Inc. 1.98%
The Carlyle Group Inc. 1.94%
Franklin Resources, Inc. 1.91%
T. Rowe Price Group, Inc. 1.89%
Citigroup Inc. 1.87%
MGIC Investment Corporation 1.86%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 1/31/2023)4

Among 95 funds in the Financial category. This fund was rated 4 stars/95 funds (3 years), 4 stars/90 funds (5 years), 4 stars/75 funds (10 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 3/21/2023)5$0.3697
30-Day SEC Yield (as of 2/28/2023)62.71%
Unsubsidized 30-Day SEC Yield (as of 2/28/2023)72.71%
12-Month Distribution Rate (as of 2/28/2023)82.30%
Index Yield (as of 2/28/2023)93.45%
Fund Characteristics (as of 2/28/2023)11
Maximum Market Cap.$421,930
Median Market Cap.$11,584
Minimum Market Cap.$957
Price/Cash Flow7.54
Bid/Ask Premium/Discount (as of 3/20/2023)
  2022 Q1 2023 Q2 2023 Q3 2023
Days Traded at Premium 96 29 --- ---
Days Traded at Discount 155 24 --- ---
Top Industry Exposure (as of 3/20/2023)
Investment Banking and Brokerage Services 31.83%
Banks 26.40%
Non-life Insurance 21.38%
Finance and Credit Services 9.73%
Life Insurance 5.74%
Mortgage Real Estate Investment Trusts 4.92%
Hypothetical Growth of $10,000 Since Inception (as of 3/20/2023) *