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First Trust Health Care AlphaDEX® Fund (FXH)
Investment Objective/Strategy - The First Trust Health Care 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® Health Care Index.
There can be no assurance that the Fund's investment objectives will be achieved.
Index Description According to the Index Provider
  • The StrataQuant® Health Care 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® Health Care 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 health care sector according to their score. The greater of the top 75% of the eligible universe or 40 stocks is selected for the StrataQuant® Health Care Index.
    • If the total count of eligible stocks in the health care 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 TypeHealth Care
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 through November 30, 2022.
Current Fund Data (as of 9/23/2022)
Closing NAV1$98.00
Closing Market Price2$97.99
Bid/Ask Midpoint$98.02
Bid/Ask Premium0.02%
30-Day Median Bid/Ask Spread30.06%
Total Net Assets$1,406,358,295
Outstanding Shares14,350,002
Daily Volume211,604
Average 30-Day Daily Volume54,406
Closing Market Price 52-Week High/Low$124.74 / $97.16
Closing NAV 52-Week High/Low$124.64 / $97.18
Number of Holdings (excluding cash)82
NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 9/25/2022)4$0.1007
30-Day SEC Yield (as of 8/31/2022)50.26%
Unsubsidized 30-Day SEC Yield (as of 8/31/2022)60.26%
Index Yield (as of 8/31/2022)70.87%
Fund Characteristics (as of 8/31/2022)8
Maximum Market Cap.$485,772
Median Market Cap.$16,828
Minimum Market Cap.$2,506
Price/Cash Flow11.18
Top Holdings (as of 9/23/2022)*
Holding Percent
Regeneron Pharmaceuticals, Inc. 2.59%
Molina Healthcare, Inc. 2.58%
Sarepta Therapeutics, Inc. 2.53%
Cigna Corporation 2.31%
Humana Inc. 2.28%
Vertex Pharmaceuticals Incorporated 2.20%
UnitedHealth Group Incorporated 2.19%
Merck & Co., Inc. 2.09%
Elevance Health Inc. 2.06%
Ionis Pharmaceuticals, Inc. 2.05%

* Excluding cash.  Holdings are subject to change.

Bid/Ask Premium/Discount (as of 9/23/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 127 16 39 30
Days Traded at Discount 125 46 23 29
Top Industry Exposure (as of 9/23/2022)
Pharmaceuticals and Biotechnology 41.40%
Medical Equipment and Services 29.97%
Health Care Providers 28.63%
Hypothetical Growth of $10,000 Since Inception (as of 9/22/2022) *