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First Trust Latin America AlphaDEX® Fund (FLN)
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
Fund TypeInternational Equity
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
Fiscal Year-End12/31
Inception Price$29.70
Inception NAV$29.70
Rebalance FrequencySemi-Annual
Expense Ratio*0.80%
* As of 5/1/2023
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's Statement of Additional Information for full details.
Current Fund Data (as of 9/29/2023)
Closing NAV1$18.29
Closing Market Price2$18.31
Bid/Ask Midpoint$18.20
Bid/Ask Discount0.49%
30-Day Median Bid/Ask Spread32.14%
Total Net Assets$73,146,465
Outstanding Shares4,000,002
Daily Volume1,765
Average 30-Day Daily Volume12,128
Closing Market Price 52-Week High/Low$20.06 / $15.81
Closing NAV 52-Week High/Low$20.02 / $15.87
Number of Holdings (excluding cash)50
Top Holdings (as of 9/29/2023)*
Holding Percent
Petroleo Brasileiro S.A. (Petrobras) (Preference Shares) 4.70%
Banco do Brasil S.A. 3.84%
Grupo Carso, S.A.B. de C.V. (Class A1) 3.73%
Enel Chile SA 3.49%
Empresas CMPC S.A. 3.46%
Suzano SA 3.32%
Grupo Comercial Chedraui, S.A.B. de C.V. 3.23%
Cencosud S.A. 3.16%
Coca-Cola FEMSA, S.A.B. de C.V. 3.09%
Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. 3.07%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 8/31/2023)4

Among 21 funds in the Latin America Stock category. This fund was rated 3 stars/21 funds (3 years), 4 stars/18 funds (5 years), 4 stars/15 funds (10 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 10/1/2023)5$0.1592
30-Day SEC Yield (as of 8/31/2023)63.76%
12-Month Distribution Rate (as of 8/31/2023)75.10%
Index Yield (as of 8/31/2023)86.85%
Fund Characteristics (as of 8/31/2023)9
Maximum Market Cap.$88,327
Median Market Cap.$8,262
Minimum Market Cap.$3,253
Price/Cash Flow4.56
Top Country Exposure (as of 9/29/2023)
Country Percent
Mexico 41.98%
Brazil 39.24%
Chile 16.76%
Colombia 2.02%
Bid/Ask Premium/Discount (as of 9/29/2023)
  2022 Q1 2023 Q2 2023 Q3 2023
Days Traded at Premium 87 52 28 29
Days Traded at Discount 164 10 34 34
Top Sector Exposure (as of 9/29/2023)
Consumer Staples 23.48%
Materials 19.53%
Industrials 18.06%
Financials 14.77%
Energy 8.22%
Utilities 6.36%
Real Estate 4.24%
Communication Services 3.66%
Consumer Discretionary 1.68%
Hypothetical Growth of $10,000 Since Inception (as of 9/28/2023) *