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First Trust Latin America AlphaDEX® Fund (FLN)
  • 2022 Estimated Capital Gain Distributions
    Certain First Trust Exchange-Traded Funds are expected to pay a long-term capital gain distribution in December. For a list of exchange-traded funds expected to pay a capital gain distribution, please click here. 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.

  • On October 24th, 2022, the Board of Trustees of First Trust's ETFs approved a management fee breakpoint policy that will make all ETFs in the complex eligible for a reduction in the management fee charged on assets that exceed certain AUM thresholds. The goal of this policy is to offer reductions in management fees paid by shareholders of larger First Trust ETFs through a process that is transparent and understandable for all investors.
    Effective November 1st, 2022, the management fee paid by any First Trust ETF with assets exceeding $2.5 Billion will decrease, with larger and increased reductions for assets above $5 Billion, $7.5 Billion, $10 Billion and $15 Billion.

    Full details of the policy and additional breakpoint levels can be seen in each fund’s Statement of Additional Information.
Investment Objective/Strategy - The First Trust Latin America 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® Latin America 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 Latin America Index that meet certain criteria.
  • To construct the Index, Nasdaq ranks the eligible stocks 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 the best style rank from the previous step as its selection score.
  • The top 50 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.
  • Each stock is then tested in order of its selection score rank to check if the weight assigned to that stock is outside the country/sector weighting constraints, which are set at 15% above the benchmark weight.
    • If the weight assigned to the stock, when added with the weight assigned to all higher ranking stocks in its country/sector, is greater than the constraint, then the stock's weight is lowered to the highest rank in the next quintile. Stocks previously lower in rank then move up one rank. Such stocks in the lowest quintile that violate a constraint are removed from the portfolio and replaced by the highest scoring stock not originally selected, subject to country/sector constraints. This process continues until all the country/sector weightings meet the constraint.
  • The Index is reconstituted and rebalanced semi-annually.
Fund Overview
TickerFLN
Fund TypeInternational Equity
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
CUSIP33737J125
ISINUS33737J1253
Intraday NAVFLNIV
Fiscal Year-End12/31
ExchangeNasdaq
Inception4/18/2011
Inception Price$29.70
Inception NAV$29.70
Rebalance FrequencySemi-Annual
Expense Ratio*0.80%
* As of 5/2/2022
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 12/2/2022)
Closing NAV1$17.40
Closing Market Price2$17.49
Bid/Ask Midpoint$17.41
Bid/Ask Premium0.03%
30-Day Median Bid/Ask Spread30.62%
Total Net Assets$42,641,976
Outstanding Shares2,450,002
Daily Volume90,984
Average 30-Day Daily Volume12,064
Closing Market Price 52-Week High/Low$21.41 / $15.38
Closing NAV 52-Week High/Low$21.42 / $15.41
Number of Holdings (excluding cash)50
Top Holdings (as of 12/2/2022)*
Holding Percent
Petro Rio S.A. 4.13%
Gerdau S.A. (Preferred Shares) 3.94%
Cia Sud Americana de Vapores SA 3.44%
Empresas Copec S.A. 3.20%
Sociedad Quimica y Minera de Chile S.A. (Class B) 3.15%
Equatorial Energia SA 3.13%
Companhia Paranaense de Energia-Copel (Preference B) 3.01%
Vale S.A. 2.98%
Itau Unibanco Holding S.A. (Preference Shares) 2.91%
Banco do Brasil S.A. 2.90%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 10/31/2022)4

Among 21 funds in the Latin America Stock category. This fund was rated 3 stars/21 funds (3 years), 4 stars/17 funds (5 years), 4 stars/15 funds (10 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 12/3/2022)5$0.2308
30-Day SEC Yield (as of 10/31/2022)64.46%
12-Month Distribution Rate (as of 10/31/2022)76.65%
Index Yield (as of 10/31/2022)87.14%
Fund Characteristics (as of 11/30/2022)10
Maximum Market Cap.$74,113
Median Market Cap.$6,911
Minimum Market Cap.$3,202
Price/Earnings5.32
Price/Book1.27
Price/Cash Flow3.80
Price/Sales0.70
Top Country Exposure (as of 12/2/2022)
Country Percent
Brazil 63.09%
Mexico 19.31%
Chile 16.95%
Colombia 0.65%
Bid/Ask Premium/Discount (as of 12/2/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 23 11 30 25
Days Traded at Discount 229 51 32 39
Top Sector Exposure (as of 12/2/2022)
Materials 26.62%
Consumer Staples 15.87%
Financials 14.25%
Utilities 12.99%
Energy 10.14%
Industrials 6.84%
Consumer Discretionary 6.12%
Communication Services 3.88%
Health Care 2.56%
Real Estate 0.73%
Hypothetical Growth of $10,000 Since Inception (as of 12/1/2022) *