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First Trust Technology AlphaDEX® Fund (FXL)
Investment Objective/Strategy - The First Trust Technology 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® Technology Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The StrataQuant® Technology 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® Technology 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 technology sector according to their score. The greater of the top 75% of the eligible universe or 40 stocks is selected for the StrataQuant® Technology Index.
    • If the total count of eligible stocks in the technology 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
TickerFXL
Fund TypeTechnology
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
CUSIP33734X176
ISINUS33734X1761
Intraday NAVFXLIV
Fiscal Year-End07/31
ExchangeNYSE Arca
Inception5/8/2007
Inception Price$20.00
Inception NAV$20.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.61%
Net Expense Ratio*0.61%
* As of 12/1/2020
Expenses are capped contractually at 0.70% per year, at least until November 30, 2021.
Current Fund Data (as of 9/16/2021)
Closing NAV1$128.53
Closing Market Price2$128.52
Bid/Ask Midpoint$128.54
Bid/Ask Premium0.01%
30-Day Median Bid/Ask Spread30.04%
Total Net Assets$2,744,732,040
Outstanding Shares21,355,000
Daily Volume70,287
Average 30-Day Daily Volume53,295
Closing Market Price 52-Week High/Low$130.05 / $86.39
Closing NAV 52-Week High/Low$130.10 / $86.45
Number of Holdings (excluding cash)107
NAV History (Since Inception)
Past performance is not indicative of future results.
Fund Characteristics (as of 8/31/2021)4
Maximum Market Cap.$2,509,775
Median Market Cap.$20,544
Minimum Market Cap.$2,697
Price/Earnings27.12
Price/Book4.83
Price/Cash Flow16.22
Price/Sales1.95
Top Holdings (as of 9/16/2021)*
Holding Percent
Gartner, Inc. 1.93%
Fortinet, Inc. 1.89%
Cloudflare, Inc. (Class A) 1.87%
EPAM Systems, Inc. 1.82%
HubSpot, Inc. 1.79%
Alphabet Inc. (Class A) 1.74%
NVIDIA Corporation 1.65%
Jabil Inc. 1.60%
Analog Devices, Inc. 1.52%
Teradata Corporation 1.52%

* Excluding cash.  Holdings are subject to change.

Bid/Ask Premium/Discount (as of 9/16/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 103 22 35 37
Days Traded at Discount 150 39 28 17
Top Industry Exposure (as of 9/16/2021)
Software and Computer Services 63.81%
Technology Hardware and Equipment 36.19%
Hypothetical Growth of $10,000 Since Inception (as of 9/16/2021) *