First Trust Financials AlphaDEX® Fund (FXO)
  • 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 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 12/1/2023
Expenses are capped contractually at 0.70% per year, at least through November 30, 2024. 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 11/30/2023)
Closing NAV1$40.10
Closing Market Price2$40.09
Bid/Ask Midpoint$40.09
Bid/Ask Discount0.02%
30-Day Median Bid/Ask Spread30.08%
Total Net Assets$751,921,814
Outstanding Shares18,750,002
Daily Volume46,530
Average 30-Day Daily Volume83,875
Closing Market Price 52-Week High/Low$46.46 / $33.55
Closing NAV 52-Week High/Low$46.48 / $33.56
Number of Holdings (excluding cash)102
Top Holdings (as of 11/30/2023)*
Holding Percent
Popular, Inc. 1.83%
First Horizon Corporation 1.82%
Bank OZK 1.77%
Rithm Capital Corp. 1.75%
Everest Group, Ltd. 1.73%
Ally Financial Inc. 1.71%
Comerica Incorporated 1.70%
RenaissanceRe Holdings Ltd. 1.70%
First Citizens BancShares, Inc. (Class A) 1.66%
MGIC Investment Corporation 1.65%

* 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 12/1/2023)4$0.3702
30-Day SEC Yield (as of 10/31/2023)53.02%
Unsubsidized 30-Day SEC Yield (as of 10/31/2023)63.02%
12-Month Distribution Rate (as of 10/31/2023)73.54%
Index Yield (as of 10/31/2023)83.64%
Fund Characteristics (as of 11/30/2023)9
Maximum Market Cap.$783,125
Median Market Cap.$12,183
Minimum Market Cap.$1,627
Price/Cash Flow7.47
Bid/Ask Premium/Discount (as of 11/30/2023)