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First Trust Latin America AlphaDEX® Fund (FLN)
Investment Objective/Strategy - The First Trust Latin America 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® Latin America 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 Latin America 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 50 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$29.70
Inception NAV$29.70
Rebalance FrequencySemi-Annual
Expense Ratio0.80%
Current Fund Data (as of 9/30/2022)
Closing NAV1$15.72
Closing Market Price2$15.67
Bid/Ask Midpoint$15.67
Bid/Ask Discount0.32%
30-Day Median Bid/Ask Spread30.50%
Total Net Assets$42,431,408
Outstanding Shares2,700,002
Daily Volume21,922
Average 30-Day Daily Volume22,522
Closing Market Price 52-Week High/Low$21.41 / $15.38
Closing NAV 52-Week High/Low$21.42 / $15.41
Number of Holdings (excluding cash)50
Top Holdings (as of 9/30/2022)*
Holding Percent
Sociedad Quimica y Minera de Chile S.A. (Class B) 4.67%
Banco do Brasil S.A. 4.24%
El Puerto de Liverpool, S.A.B. de C.V. (Class C1) 3.73%
Companhia Energetica de Minas Gerais-CEMIG (Preference) 3.51%
Hypera S.A. 3.49%
Petroleo Brasileiro S.A. (Petrobras) (Preference Shares) 3.40%
Empresas Copec S.A. 3.36%
Companhia Paranaense de Energia-Copel (Preference B) 3.33%
Cia Sud Americana de Vapores SA 3.16%
Gerdau S.A. (Preferred Shares) 3.03%

* Excluding cash.  Holdings are subject to change.

NAV History (Since Inception)
Past performance is not indicative of future results.
Overall Morningstar RatingTM (as of 8/31/2022)4

Among 21 funds in the Latin America Stock category. This fund was rated 3 stars/21 funds (3 years), 4 stars/17 funds (5 years), 4 stars/15 funds (10 years) based on risk adjusted returns.
Distribution Information
Dividend per Share Amt (as of 10/3/2022)5$0.2308
30-Day SEC Yield (as of 8/31/2022)64.65%
12-Month Distribution Rate (as of 8/31/2022)76.36%
Index Yield (as of 8/31/2022)88.64%
Fund Characteristics (as of 8/31/2022)10
Maximum Market Cap.$89,285
Median Market Cap.$6,796
Minimum Market Cap.$3,239
Price/Cash Flow4.01
Top Country Exposure (as of 9/30/2022)
Country Percent
Brazil 59.02%
Mexico 21.61%
Chile 16.02%
Peru 1.87%
Colombia 1.48%
Bid/Ask Premium/Discount (as of 9/30/2022)
  2021 Q1 2022 Q2 2022 Q3 2022
Days Traded at Premium 23 11 30 25
Days Traded at Discount 229 51 32 39
Top Sector Exposure (as of 9/30/2022)
Materials 23.56%
Financials 18.06%
Utilities 18.02%
Industrials 9.31%
Energy 8.80%
Consumer Staples 6.94%
Consumer Discretionary 5.99%
Communication Services 5.81%
Health Care 3.51%
Hypothetical Growth of $10,000 Since Inception (as of 9/30/2022) *