Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
First Trust Developed Markets ex-US Small Cap AlphaDEX® Fund (FDTS)
Investment Objective/Strategy - The First Trust Developed Markets ex-US Small Cap 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® Developed Markets Ex-US Small Cap Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The NASDAQ AlphaDEX® Developed Markets Ex-US Small Cap 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 Developed Markets Ex-US 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 400 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 AgentBrown Brothers Harriman
Fiscal Year-End12/31
Inception Price$30.48
Inception NAV$30.48
Rebalance FrequencySemi-Annual
Expense Ratio0.80%
Current Fund Data (as of 2/22/2018)
Closing NAV1$44.46
Closing Share Price2$44.73
Bid/Ask Midpoint$44.54
Bid/Ask Premium0.16%
Total Net Assets$15,562,417
Outstanding Shares350,002
Daily Volume1,999
Average 30-Day Daily Volume8,653
Closing Share Price 52-Week High/Low$48.13 / $35.12
Closing NAV 52-Week High/Low$47.80 / $35.22
Number of Holdings404
Fund Characteristics (as of 1/31/2018)8
Maximum Market Cap.$4,255
Median Market Cap.$1,361
Minimum Market Cap.$335
Price/Cash Flow6.81
Top Holdings (as of 2/23/2018)
Holding Percent
Eramet 0.87%
Open House Co., Ltd. 0.68%
Ssangyong Cement Industrial Co., Ltd. 0.68%
Cosmo Energy Holdings Co., Ltd. 0.61%
Beach Energy Limited 0.58%
Macnica Fuji Electronics Holdings, Inc. 0.58%
Fila Korea Ltd. 0.56%
Aker ASA (Class A) 0.54%
SL Corp. 0.54%
Tsugami Corporation 0.53%

Holdings are subject to change.

Top Country Exposure (as of 2/23/2018)
Country Percent
Japan 44.47%
South Korea 12.45%
Australia 7.61%
Canada 5.83%
United Kingdom 4.69%
Italy 4.08%
Germany 3.52%
France 2.01%
Hong Kong 1.97%
Sweden 1.85%
NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 1/31/2018)3

Among 59 funds in the Foreign Small/Mid Value category. This fund was rated 5 stars/59 funds (3 years), 3 stars/47 funds (5 years).
Distribution Information
Dividend per Share Amt (as of 2/24/2018)4$0.3444
30-Day SEC Yield (as of 1/31/2018)51.49%
12-Month Distribution Rate (as of 1/31/2018)61.97%
Index Yield (as of 1/31/2018)71.99%
Bid/Ask Midpoint vs. NAV (as of 12/31/2017)
Number of Days Bid/Ask Midpoint Above NAV
Quarter Ended 0-49
Basis Points
Basis Points
Basis Points
Basis Points
12/31/2017 3 3 0 0
9/30/2017 1 1 0 0
6/30/2017 5 0 0 0
3/31/2017 1 0 0 0
Number of Days Bid/Ask Midpoint Below NAV
Quarter Ended 0-49
Basis Points
Basis Points
Basis Points
Basis Points
12/31/2017 9 42 6 0
9/30/2017 5 45 11 0
6/30/2017 16 38 4 0
3/31/2017 14 46 1 0

The price used to calculate market return is determined by using the midpoint between the highest bid and the lowest offer on the stock exchange, on which shares of the Fund are listed for trading, as of the time that the Fund's NAV is calculated.

Top Sector Exposure (as of 2/23/2018)
Industrials 22.52%
Consumer Discretionary 20.47%
Materials 17.35%
Real Estate 12.53%
Information Technology 11.43%
Energy 5.46%
Financials 4.70%
Consumer Staples 2.94%
Health Care 2.18%
Utilities 0.42%
Telecommunication Services 0.00%
Please note that percentage of 0.00 indicates an amount less than 0.01%.
Month End Performance (as of 1/31/2018)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 10.82% 4.59% 37.90% 15.41% 10.69% N/A 9.98%
After Tax Held 10.46% 4.59% 36.56% 14.47% 9.73% N/A 8.96%
After Tax Sold 6.12% 2.60% 21.35% 11.58% 7.95% N/A 7.40%
Market Price 12.03% 5.65% 39.43% 15.86% 10.71% N/A 10.06%
Index Performance **
NASDAQ AlphaDEX® Developed Markets Ex-US Small Cap Index 11.12% 4.69% 38.85% 16.10% N/A N/A N/A
MSCI World ex-US Small Cap Index 9.22% 4.67% 32.38% 15.04% 11.34% N/A 11.27%
NASDAQ Developed Markets Ex-US Small Cap Index 8.62% 4.29% 29.80% 14.07% 10.30% N/A N/A
Quarter End Performance (as of 12/29/2017)
  3 Mos YTD 1 Year 3 Year 5 Year 10 Year Since
Fund Performance *
Net Asset Value (NAV) 8.27% 36.23% 36.23% 14.01% 10.24% N/A 9.29%
After Tax Held 7.91% 34.91% 34.91% 13.07% 9.28% N/A 8.27%
After Tax Sold 4.68% 20.44% 20.44% 10.47% 7.59% N/A 6.83%
Market Price 8.48% 37.01% 37.01% 13.86% 9.94% N/A 9.19%
Index Performance **
NASDAQ AlphaDEX® Developed Markets Ex-US Small Cap Index 8.82% 37.03% 37.03% 13.94% N/A N/A N/A
MSCI World ex-US Small Cap Index 5.83% 31.04% 31.04% 12.96% 11.37% N/A 10.58%
NASDAQ Developed Markets Ex-US Small Cap Index 5.86% 28.98% 28.98% 12.33% 10.42% N/A N/A
3-Year Statistics (as of 1/31/2018)
  Standard Deviation Alpha Beta Sharpe Ratio Correlation
FDTS 11.73% 1.77 0.96 1.26 0.94
MSCI World ex-US Small Cap Index 11.81% 0.70 1.01 1.22 0.98
NASDAQ Developed Markets Ex-US Small Cap Index 11.46% --- 1.00 1.18 1.00
Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.

*Performance data quoted represents past performance. Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. Investment returns and principal value will fluctuate and shares when sold or redeemed, may be worth more or less than their original cost.

After Tax Held returns represent return after taxes on distributions. Assumes shares have not been sold. After Tax Sold returns represent the return after taxes on distributions and the sale of fund shares. Returns do not represent the returns you would receive if you traded shares at other times. Market Price returns are based on the midpoint of the bid/ask spread on the stock exchange on which shares of the fund are listed for trading as of the time that the fund’s NAV is calculated. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on the investor’s tax situation and may differ from those shown. The after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts.

**Performance information for the NASDAQ AlphaDEX® Developed Markets Ex-US Small Cap Index is for illustrative purposes only and does not represent actual fund performance.
Indexes do not charge management fees or brokerage expenses, and no such fees or expenses were deducted from the performance shown. Indexes are unmanaged and an investor cannot invest directly in an index.

On October 13, 2015, the fund's underlying index changed from the Defined Developed Markets ex-US Small Cap Index to the NASDAQ AlphaDEX® Developed Markets Ex-US Small Cap Index. Therefore, the fund's performance and historical returns shown for the periods prior to this date are not necessarily indicative of the performance that the fund, based on its current index, would have generated.

The expense ratio for this fund is 0.80%.

MSCI World ex-US Small Cap Index - The Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of all investable small cap securities in developed markets throughout the world, with the exception of U.S.-based companies.

NASDAQ Developed Markets Ex-US Small Cap Index - The Index is a float adjusted market capitalization-weighted index that is designed to measure the small capitalization segment performance of countries which are designated as developed markets, excluding the United States.

1 The NAV represents the fund's net assets (assets less liabilities) divided by the fund's outstanding shares .
2 Fund shares are purchased and sold on an exchange at their share price rather than net asset value (NAV), which may cause the shares to trade at a price greater than NAV (premium) or less than NAV (discount).
The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
4 Most recent distribution paid or declared to today's date. Subject to change in the future. There is no guarantee that the fund will declare dividends.
5 The 30-day SEC yield is calculated by dividing the net investment income per share earned during the most recent 30-day period by the maximum offering price per share on the last day of the period and includes the effects of fee waivers and expense reimbursements, if applicable.
6 12-Month Distribution Rate is calculated by dividing the sum of the fund's trailing 12-month ordinary distributions paid or declared by the NAV price. Distribution rates may vary.
7 Index yield represents the weighted average trailing 12-month dividend of the constituents of the NASDAQ AlphaDEX® Developed Markets Ex-US Small Cap Index.
8 All market capitalization numbers are in USD$ Millions.
9 Inception Date is 2/15/2012

You should consider the fund's investment objectives, risks, and charges and expenses carefully before investing. You can download a prospectus or summary prospectus, or contact First Trust Portfolios L.P. at 1-800-621-1675 to request a prospectus or summary prospectus which contains this and other information about the fund. The prospectus or summary prospectus should be read carefully before investing.

ETF Characteristics

The fund lists and principally trades its shares on The Nasdaq Stock Market LLC.

The fund's return may not match the return of the NASDAQ AlphaDEX® Developed Markets Ex-US Small Cap Index.  Securities held by the fund will generally not be bought or sold in response to market fluctuations.

Investors buying or selling fund shares on the secondary market may incur customary brokerage commissions. Market prices may differ to some degree from the net asset value of the shares. Investors who sell fund shares may receive less than the share's net asset value. Shares may be sold throughout the day on the exchange through any brokerage account. However, unlike mutual funds, shares may only be redeemed directly from the fund by authorized participants, in very large creation/redemption units. If the fund's authorized participants are unable to proceed with creation/redemption orders and no other authorized participant is able to step forward to create or redeem, fund shares may trade at a discount to the fund's net asset value and possibly face delisting.

Risk Considerations

The fund's shares will change in value, and you could lose money by investing in the fund. One of the principal risks of investing in the fund is market risk. Market risk is the risk that a particular stock owned by the fund, fund shares or stocks in general may fall in value. There can be no assurance that the fund's investment objective will be achieved.

The fund may invest in securities issued by companies concentrated in a particular sector or country which involves additional risks including limited diversification. The fund invests in small capitalization and mid capitalization companies. Such companies may experience greater price volatility than larger, more established companies.

An investment in a fund containing securities of non-U.S. issuers is subject to additional risks, including currency fluctuations, political risks, withholding, the lack of adequate financial information, and exchange control restrictions impacting non-U.S. issuers.

The fund may invest in depositary receipts which may be less liquid than the underlying shares in their primary trading market. The fund may, under most circumstances, effect a portion of creations and redemptions for cash, rather than in-kind securities. As a result, the fund may be less tax-efficient. Changes in currency exchange rates and the relative value of non-US currencies may affect the value of a fund's investments and the value of a fund's shares.

Large inflows and outflows may impact the fund's market exposure for limited periods of time.

The fund is classified as "non-diversified" and may invest a relatively high percentage of its assets in a limited number of issuers. As a result, the fund may be more susceptible to a single adverse economic or regulatory occurrence affecting one or more of these issuers, experience increased volatility and be highly concentrated in certain issuers.

First Trust Advisors L.P. is the adviser to the fund. First Trust Advisors L.P. is an affiliate of First Trust Portfolios L.P., the fund's distributor.

The NASDAQ AlphaDEX® Developed Markets Ex-US Small Cap Index (the "Index") is a trademark of Nasdaq, Inc. and has been licensed for use by First Trust Portfolios L.P. AlphaDEX® is a trademark owned by First Trust Portfolios L.P. and has been licensed to Nasdaq, Inc. for use in the name of the Index. The First Trust Developed Markets ex-US Small Cap AlphaDEX® Fund is not sponsored, endorsed, sold or promoted by Nasdaq, Inc. and Nasdaq, Inc. makes no representation or warranty regarding the advisability of investing in the First Trust Developed Markets ex-US Small Cap AlphaDEX® Fund or as to the result to be obtained by any person from use of the Index in connection with the trading of the First Trust Developed Markets ex-US Small Cap AlphaDEX® Fund.

"AlphaDEX®" is a registered trademark of First Trust Portfolios L.P. First Trust Portfolios L.P. has obtained a patent for the AlphaDEX® stock selection methodology from the United States Patent and Trademark Office.

©2018 Morningstar, Inc. All Rights Reserved. The Morningstar RatingTM information contained herein: (1) is proprietary to Morningstar;(2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Not FDIC Insured • Not Bank Guaranteed • May Lose Value
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA and the Internal Revenue Code. First Trust has no knowledge of and has not been provided any information regarding any investor. Financial advisors must determine whether particular investments are appropriate for their clients. First Trust believes the financial advisor is a fiduciary, is capable of evaluating investment risks independently and is responsible for exercising independent judgment with respect to its retirement plan clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
Home |  Important Legal Information |  Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2018 All rights reserved.