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First Trust Large Cap Core AlphaDEX® Fund (FEX)
Investment Objective/Strategy - The First Trust Large Cap Core 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® Large Cap Core 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 US 500 Large Cap Index that meet certain criteria.
  • Nasdaq constructs the Index by ranking the eligible stocks from the Nasdaq US 500 Large Cap 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.
  • The top 375 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.
  • The Index is reconstituted and rebalanced quarterly.
Fund Overview
TickerFEX
Fund TypeLarge Cap Core
Investment AdvisorFirst Trust Advisors L.P.
Investor Servicing AgentBank of New York Mellon Corp
CUSIP33734K109
ISINUS33734K1097
Intraday NAVFEXIV
Fiscal Year-End07/31
ExchangeNasdaq
Inception5/8/2007
Inception Price$30.00
Inception NAV$30.00
Rebalance FrequencyQuarterly
Gross Expense Ratio*0.59%
Net Expense Ratio*0.59%
* As of 12/1/2022
Expenses are capped contractually at 0.70% per year, at least through November 30, 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 SAI for full details.
Current Fund Data (as of 1/31/2023)
Closing NAV1$85.11
Closing Market Price2$85.10
Bid/Ask Midpoint$85.12
Bid/Ask Premium0.01%
30-Day Median Bid/Ask Spread30.05%
Total Net Assets$1,204,360,717
Outstanding Shares14,150,002
Daily Volume31,008
Average 30-Day Daily Volume47,354
Closing Market Price 52-Week High/Low$90.12 / $72.22
Closing NAV 52-Week High/Low$90.15 / $72.16
Number of Holdings (excluding cash)375
Top Holdings (as of 1/31/2023)*
Holding Percent
Western Digital Corporation 0.58%
Paramount Global (Class B) 0.57%
Capital One Financial Corporation 0.53%
Nucor Corporation 0.53%
United Rentals, Inc. 0.52%
Meta Platforms Inc. (Class A) 0.51%
Steel Dynamics, Inc. 0.51%
Celanese Corporation 0.50%
Discover Financial Services 0.50%
International Paper Company 0.50%

* 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 2/1/2023)4$0.4725
30-Day SEC Yield (as of 12/30/2022)51.63%
Unsubsidized 30-Day SEC Yield (as of 12/30/2022)61.63%
12-Month Distribution Rate (as of 12/30/2022)71.61%
Index Yield (as of 12/30/2022)82.37%
Fund Characteristics (as of 1/31/2023)10
Maximum Market Cap.$480,806
Median Market Cap.$36,763
Minimum Market Cap.$10,475
Price/Earnings13.58
Price/Book2.52
Price/Cash Flow9.37
Price/Sales1.50
Bid/Ask Premium/Discount (as of 1/31/2023)
  2022 Q1 2023 Q2 2023 Q3 2023
Days Traded at Premium 124 5 --- ---
Days Traded at Discount 127 15 --- ---
Top Sector Exposure (as of 1/31/2023)
Financials 14.56%
Industrials 13.67%
Information Technology 13.26%
Consumer Discretionary 10.37%
Energy 10.07%
Health Care 9.40%
Materials 9.11%
Utilities 6.77%
Consumer Staples 5.23%
Communication Services 4.26%
Real Estate 3.30%
Hypothetical Growth of $10,000 Since Inception (as of 1/31/2023) *