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First Trust Multi Cap Value AlphaDEX® Fund (FAB)
Investment Objective/Strategy - The First Trust Multi Cap Value 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 NASDAQ AlphaDEX® Multi Cap Value Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The NASDAQ AlphaDEX® Multi Cap Value Index is an "enhanced" index created and administered by Nasdaq, Inc. ("Nasdaq") which employs the AlphaDEX® stock selection methodology to select stocks that meet certain criteria from the three indices – NASDAQ US 500 Large Cap Index, NASDAQ US 600 Mid Cap Index and NASDAQ US 700 Small Cap Index.
  • Nasdaq constructs the NASDAQ AlphaDEX® Multi Cap Value Index by ranking the eligible stocks within each index 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 either its growth or value score as its selection score based on its style designation as determined by Nasdaq. Only those stocks designated as value stocks are eligible for the portfolio.
  • The top 187 stocks from the NASDAQ US 500 Large Cap Value Index, 225 stocks from the NASDAQ US 600 Mid Cap Value Index and 262 stocks from the NASDAQ US 700 Small Cap Value Index 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 within their size class and the top ranked quintiles receive a higher weight within the index.
  • The NASDAQ AlphaDEX® Multi Cap Value Index is comprised of the selected stocks in the following weights: the stocks selected from the NASDAQ US 500 Large Cap Value Index comprise 50%, the stocks selected from the NASDAQ US 600 Mid Cap Value Index comprise 30%, and the stocks selected from the NASDAQ US 700 Small Cap Value Index comprise 20%.
  • The index is reconstituted and rebalanced quarterly.
Fund Overview
Fund TypeMulti Cap Value
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon
Fiscal Year-End07/31
Inception Price$30.00
Inception NAV$30.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.74%
Net Expense Ratio*0.70%
* 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 5/12/2021)
Closing NAV1$71.20
Closing Market Price2$71.29
Bid/Ask Midpoint$71.25
Bid/Ask Premium0.06%
30-Day Median Bid/Ask Spread30.17%
Total Net Assets$153,074,535
Outstanding Shares2,150,002
Daily Volume17,819
Average 30-Day Daily Volume28,923
Closing Market Price 52-Week High/Low$74.10 / $38.10
Closing NAV 52-Week High/Low$74.04 / $38.07
Number of Holdings (excluding cash)674
Top Holdings (as of 5/12/2021)*
Holding Percent
The Allstate Corporation 0.50%
Ally Financial Inc. 0.49%
Cincinnati Financial Corporation 0.49%
Berkshire Hathaway Inc. (Class B) 0.48%
CVS Health Corporation 0.48%
The Progressive Corporation 0.48%
Celanese Corporation 0.47%
Cigna Corporation 0.47%
Citizens Financial Group, Inc. 0.47%
The Bank of New York Mellon Corporation 0.47%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Distribution Information
Dividend per Share Amt (as of 5/13/2021)4$0.1182
30-Day SEC Yield (as of 4/30/2021)51.35%
Unsubsidized 30-Day SEC Yield (as of 4/30/2021)61.33%
12-Month Distribution Rate (as of 4/30/2021)71.27%
Index Yield (as of 4/30/2021)82.13%
For funds with certain equity strategies, due to the negative economic impact across many industries caused by the COVID-19 outbreak, certain of the issuers of the securities included in the fund may elect to reduce the amount of dividends and/or distributions paid in the future. As a result, the "12-Month Distribution Rate," which is based on the fund's trailing 12-month ordinary distributions, will likely be higher, and in some cases significantly higher, than the actual 12-month distribution rate achieved by the fund.
Fund Characteristics (as of 4/30/2021)10
Maximum Market Cap.$630,974
Median Market Cap.$6,139
Minimum Market Cap.$814
Price/Cash Flow10.16
Bid/Ask Premium/Discount (as of 5/12/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 133 54 27 ---
Days Traded at Discount 120 7 2 ---
Top Sector Exposure (as of 5/12/2021)
Financials 27.52%
Industrials 14.02%
Utilities 10.68%
Consumer Discretionary 8.62%
Health Care 7.61%
Materials 6.62%
Consumer Staples 6.43%
Real Estate 6.40%
Information Technology 5.65%
Communication Services 4.51%
Energy 1.94%
Hypothetical Growth of $10,000 Since Inception (as of 5/12/2021) *