FNK
First Trust Mid Cap Value AlphaDEX Fund
First Trust Mid Cap Value AlphaDEX Fund seeks investment results that correspond to the Defined Mid Cap Value Index.
Fund Basics
Fund sponsor | First Trust Advisors LP |
Category | US Equities |
Asset class | Equity |
Website | link... |
Inception date | Apr 19, 2011 |
Assets (mns) | $212 |
Expense ratio | 70 bp |
Currency | USD |
Sector Breakdown
Fund Structure
Regulation | Open-Ended Fund |
Distributions | Quarterly |
Taxation | 1099 |
Stock selection | Multi-Factor |
Weighting | Tiered |
Holdings Transparency | Full |
Derivatives-based | No |
Options available | Yes |
Currency hedged | No |
Fund of funds | No |
Top 10 Holdings
Complete list +
PBF ENERGY INC-CLASS A | 1.0 % |
HF SINCLAIR CORPORATION | 1.0 % |
UNITED STATES STEEL CORP | 1.0 % |
JACKSON FINANCIAL INCORPORATION CLASS A | 1.0 % |
WESTERN ALLIANCE BANCORP | 0.9 % |
RYDER SYSTEM INC | 0.9 % |
SM ENERGY CO | 0.9 % |
SIGNET JEWELERS LIMITED | 0.9 % |
KILROY REALTY CORP | 0.8 % |
MGIC INVESTMENT CORP | 0.8 % |
Constituent Breakdown
Number of holdings | 226 |
Herfindahl-Hirschman Index | 55 |
Wgt avg mkt cap (mns) | $5,836 |
Large cap (>$10bn) | 10.2% |
Mid cap ($2-10bn) | 84.2% |
Small cap (<$2bn) | 2.4% |
Developed mkts. | 100.0% |
Emerging mkts. | 0.0% |
Country Exposure
UNITED STATES | 96.5 % | |
BERMUDA | 2.5 % | |
PUERTO RICO | 0.6 % |
Historical Performance
Standardized Annual Returns (as of 08/31/2023)
YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. |
---|---|---|---|---|---|---|
10.6% | 11.7% | 3.2% | 19.4% | 6.6% | 7.8% | 8.4% |
Market Correlations
versus... | Beta | R-squared |
S&P 500 | 1.09 | 70% |
MSCI EAFE | 1.09 | 73% |
MSCI Emg Mkts | 0.87 | 45% |
Liquidity Measures
Avg. volume (000) | 18 |
Turnover | 0.4% |
Avg. Bid/Ask (% of price) | 0.14% |
ADV of underlying (mns) | $7,242 |
Technical Indicators
Recent close | $44.31 |
30d moving avg. | $46.26 |
Annualized volatility | 23.3% |
Relative strength (RSI) | 32 |
Short interest (ETF) | 0.0% |
Short interest (underlying) | 3.8% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
Ticker | Fund Name | Overlap vs. FNK |
Expenses vs. FNK |
ALTAR Score™ vs. FNK |
---|---|---|---|---|
FNX | First Trust Mid Cap Core AlphaDEX Fund | 55.0% | -11 bp | -4.1% |
EZM | WisdomTree U.S. MidCap Earnings Fund | 40.4% | -32 bp | -1.3% |
IJJ | iShares S&P Mid-Cap 400 Value ETF | 38.6% | -52 bp | -3.1% |
MDYV | SPDR S&P 400 Mid Cap Value ETF | 38.6% | -55 bp | -3.1% |
IVOV | Vanguard S&P Mid-Cap 400 Value ETF | 38.2% | -55 bp | -3.1% |
RNMC | Mid Cap US Equity Select ETF | 37.9% | -10 bp | -3.5% |
RWK | Invesco S&P MidCap 400 Revenue ETF | 34.2% | -31 bp | -2.8% |
VBR | Vanguard Small Cap Value Index Fund | 33.1% | -63 bp | -3.1% |
DON | WisdomTree U.S. MidCap Dividend Fund | 32.8% | -32 bp | -2.7% |
QVMM | Invesco S&P MidCap 400 QVM Multi-factor ETF | 31.6% | -55 bp | -4.3% |
Risk and Returns: FNK vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
2018 | 2019 | 2020 | 2021 | 2022 | 2023E | 2024E | ||
---|---|---|---|---|---|---|---|---|
Sales per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- | |
Book value per share | -- | -- | -- | -- | -- | -- | -- | |
change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
2022 | 2023E | Fwd Est | 2024E | |
Price-to-sales | --x | --x | --x | --x |
Price-to-earnings | --x | --x | --x | --x |
Price-to-cash flow | --x | --x | --x | --x |
Price-to-growth | --x | --x | --x | --x |
Price-to-book value | --x | --x | --x | --x |
Yield | --% | --% | --x | --% |
Based on closing prices from 9/22/2023
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FNK
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
FNK
12.3%
Cat. Avg
6.4%
Fund Category: US Equities
Avg. Return on Equity | --% |
Divided by: Fwd. P/BV | --x |
Less: Expenses | -- bp |
Equals: ALTAR Score™ | 12.3% |
Recommendation
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
Category Overview
There are 898 funds in the US Equities category, with an average ALTAR Score™
of 6.4% and a standard deviation of
3.1%. FNK's ALTAR Score™ is approximately
1.9 standard deviations
above
the category average. This places FNK in the 97th percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FNK
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Market Activity
Latest price | |
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Today's Trading
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Total Cost of Ownership (TCO) Comparison
Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
---|---|---|---|
FNK | 70.0 | 13.7 | 83.7 |
Peer Avg. | -- | -- | -- |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .