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.
  • 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*0.61%
Net Expense Ratio*0.61%
* As of 12/1/2021
Expenses are capped contractually at 0.70% per year, at least until November 30, 2022.
Current Fund Data (as of 1/24/2022)
Closing NAV1$45.25
Closing Market Price2$45.29
Bid/Ask Midpoint$45.26
Bid/Ask Premium0.02%
30-Day Median Bid/Ask Spread30.04%
Total Net Assets$1,502,405,942
Outstanding Shares33,200,002
Daily Volume531,594
Average 30-Day Daily Volume424,516
Closing Market Price 52-Week High/Low$48.61 / $34.94
Closing NAV 52-Week High/Low$48.63 / $34.98
Number of Holdings (excluding cash)103
Top Holdings (as of 1/24/2022)*
Holding Percent
MGIC Investment Corporation 1.80%
The Allstate Corporation 1.76%
Cincinnati Financial Corporation 1.75%
Mercury General Corporation 1.74%
Berkshire Hathaway Inc. (Class B) 1.73%
OneMain Holdings, Inc. 1.73%
Old Republic International Corporation 1.70%
Markel Corporation 1.69%
Annaly Capital Management, Inc. 1.65%
Fidelity National Financial, Inc. 1.64%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 12/31/2021)4

Among 97 funds in the Financial category. This fund was rated 3 stars/97 funds (3 years), 4 stars/86 funds (5 years), 4 stars/73 funds (10 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 1/26/2022)5$0.2996
30-Day SEC Yield (as of 12/31/2021)61.80%
Unsubsidized 30-Day SEC Yield (as of 12/31/2021)71.80%
12-Month Distribution Rate (as of 12/31/2021)81.91%
Index Yield (as of 12/31/2021)93.01%
Fund Characteristics (as of 12/31/2021)11
Maximum Market Cap.$669,122
Median Market Cap.$12,863
Minimum Market Cap.$435
Price/Cash Flow7.37
Bid/Ask Premium/Discount (as of 1/24/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 195 8 --- ---
Days Traded at Discount 57 7 --- ---
Top Industry Exposure (as of 1/24/2022)
Non-life Insurance 30.27%
Investment Banking and Brokerage Services 28.35%
Banks 22.83%
Finance and Credit Services 8.29%
Life Insurance 6.07%
Mortgage Real Estate Investment Trusts 4.19%
Hypothetical Growth of $10,000 Since Inception (as of 1/24/2022) *