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First Trust Europe AlphaDEX® Fund (FEP)
Investment Objective/Strategy - The First Trust Europe 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® Europe Index.
There can be no assurance that the Fund's investment objectives will be achieved.
  • The NASDAQ AlphaDEX® Europe 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 Europe 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 200 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
TickerFEP
Fund TypeInternational Equity
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBrown Brothers Harriman
CUSIP33737J117
ISINUS33737J1170
Intraday NAVFEPIV
Fiscal Year-End12/31
ExchangeNasdaq
Inception4/18/2011
Inception Price$29.10
Inception NAV$29.10
Rebalance FrequencySemi-Annual
Expense Ratio0.80%
Current Fund Data (as of 10/25/2021)
Closing NAV1$43.78
Closing Market Price2$43.89
Bid/Ask Midpoint$43.88
Bid/Ask Premium0.22%
30-Day Median Bid/Ask Spread30.14%
Total Net Assets$553,848,211
Outstanding Shares12,650,002
Daily Volume21,101
Average 30-Day Daily Volume46,286
Closing Market Price 52-Week High/Low$45.52 / $31.44
Closing NAV 52-Week High/Low$45.43 / $31.55
Number of Holdings (excluding cash)201
Top Holdings (as of 10/25/2021)*
Holding Percent
QT Group Oyj 0.96%
D'Ieteren Group 0.93%
Samhallsbyggnadsbolaget i Norden AB 0.93%
NIBE Industrier AB (Class B) 0.91%
Kinnevik AB (Class B) 0.89%
AddLife AB (Class B) 0.88%
Boliden AB 0.88%
Equinor ASA 0.88%
Segro Plc 0.88%
Sofina S.A. 0.88%

* 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 10/26/2021)4$0.2207
30-Day SEC Yield (as of 9/30/2021)52.44%
12-Month Distribution Rate (as of 9/30/2021)63.51%
Index Yield (as of 9/30/2021)73.10%
Fund Characteristics (as of 9/30/2021)9
Maximum Market Cap.$306,763
Median Market Cap.$10,414
Minimum Market Cap.$3,600
Price/Earnings10.31
Price/Book1.25
Price/Cash Flow5.99
Price/Sales0.87
Top Country Exposure (as of 10/25/2021)
Country Percent
United Kingdom 21.10%
Sweden 13.33%
Germany 12.05%
France 11.40%
Italy 6.60%
Switzerland 6.42%
The Netherlands 6.14%
Norway 4.05%
Belgium 3.45%
Finland 3.14%
Bid/Ask Premium/Discount (as of 10/25/2021)
  2020 Q1 2021 Q2 2021 Q3 2021
Days Traded at Premium 87 54 40 57
Days Traded at Discount 166 7 23 7
Top Sector Exposure (as of 10/25/2021)
Financials 20.91%
Materials 15.59%
Consumer Discretionary 11.77%
Industrials 11.48%
Real Estate 7.74%
Communication Services 7.18%
Health Care 6.75%
Utilities 5.99%
Information Technology 5.90%
Energy 3.62%
Consumer Staples 3.07%
Hypothetical Growth of $10,000 Since Inception (as of 10/25/2021) *