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 | |
| Change | |
| Volume | |
| Bid/Ask Spread | |
| Update |
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 .