First Trust Mid Cap Value AlphaDEX Fund
ALTAR
Score™
8.5% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
15.9x P/Sales
ratio
1.2x
P/BV
ratio
1.3x Div.
yield
2.3%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Mid Cap Value AlphaDEX Fund seeks investment results that correspond to the Defined Mid Cap Value Index.

FUND BASICS
Category US Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Apr 19, 2011
Assets (mns) $39
Currency USD
Expense ratio 70 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Tiered
Index replication Full
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 224
Wgt avg mkt cap (mns) $5,238
Large cap (>$10bn) 5.8%
Mid cap ($2-10bn) 94.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
FIRST CITIZENS BCSHS -CL A 1.1 %
KOHLS CORP 0.9 %
SYNOVUS FINANCIAL CORP. 0.9 %
JONES LANG LASALLE INC 0.9 %
INVESCO LTD 0.9 %
AXA EQUITABLE HOLDINGS, INC. 0.8 %
WESTERN ALLIANCE BANCORP 0.8 %
POPULAR INC 0.8 %
UNITED THERAPEUTICS CORP 0.8 %
MGIC INVESTMENT CORP 0.8 %
Total 8.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
BERMUDA 2.6 %
PUERTO RICO 0.8 %
IRELAND 0.5 %







HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-19.1% -13.9% 1.9% -- 4.9%

Market Correlations
versus... Beta R-squared
S&P500 1.43 80%
MSCI EAFE 1.53 76%
MSCI Emg. Mkts. 1.18 70%

Technical Indicators
Recent close $35.25
30d moving avg. $31.09
Annualized volatility 28.5%
Short interest (ETF) 0.3%
Short interest (Underlying) 7.9%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 10
Turnover 0.9%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $10,861

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the First Trust Mid Cap Value AlphaDEX Fund ETF based on the alternatives' overlap in portfolio holdings with FNK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FNK Expense: 70 bp ALTAR Score™: 8.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FNK
Ticker Fund
Name
Overlap1
vs FNK
(%)
Expense
ratio
(bp)
Savings
vs FNK
(bp)
ALTAR
Score™
(%)
ALTAR
vs FNK
(%)
FNX First Trust Mid Cap Core AlphaDEX Fund 56.2 61 9 5.7 -2.8
RNMC Mid Cap US Equity Select ETF 39.6 60 10 6.3 -2.2
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 38.8 29 41 7.7 -0.7
EZM WisdomTree U.S. MidCap Earnings Fund 36.1 38 32 7.5 -1.0
JKL iShares Morningstar Small Cap Value ETF 35.7 30 40 8.2 -0.3
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 33.6 20 50 7.7 -0.8
DON WisdomTree U.S. MidCap Dividend Fund 33.4 38 32 6.7 -1.7
MDYV SPDR S&P 400 Mid Cap Value ETF 32.0 15 55 7.2 -1.3
IJJ iShares S&P Mid-Cap 400 Value ETF 32.0 25 45 7.1 -1.4
JHSC John Hancock Multifactor Small Cap ETF 31.7 42 28 4.9 -3.6
FAB First Trust Multi Cap Value AlphaDEX Fund 30.7 71 -1 8.1 -0.4
RWK Invesco S&P MidCap 400 Revenue ETF 29.0 39 31 6.7 -1.8
IVOV Vanguard S&P Mid-Cap 400 Value ETF 28.9 15 55 7.2 -1.2
SCHM Schwab U.S. Mid-Cap ETF 28.4 4 66 5.3 -3.1
VBR Vanguard Small Cap Value Index Fund 27.9 7 63 7.0 -1.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 27.4 40 30 6.1 -2.3
MDY SPDR S&P Midcap 400 ETF Trust 26.7 23 47 5.6 -2.9
SPMD SPDR Portfolio Mid Cap ETF 26.7 5 65 5.8 -2.7
IJH iShares Core S&P Mid-Cap ETF 26.7 5 65 5.8 -2.7
IVOO Vanguard S&P Mid-Cap 400 ETF 26.0 10 60 5.8 -2.7
FXO First Trust Financials AlphaDEX Fund 25.7 63 7 10.1 +1.7
AFMC First Trust Active Factor Mid Cap ETF 24.7 65 5 5.8 -2.7
VUSE Vident Core US Equity Fund 24.3 48 22 7.9 -0.6
BKSE BNY Mellon US Small Cap Core Equity ETF 23.5 4 66 5.0 -3.4
SFYX Sofi Next 500 ETF 23.5 0 70 5.3 -3.2
ONEY SPDR Russell 1000 Yield Focus ETF 23.2 20 50 7.5 -1.0
SMDY Syntax Stratified MidCap ETF 22.5 30 40 5.8 -2.6
AUSF Global X Adaptive U.S. Factor ETF 22.4 27 43 8.3 -0.1
PXMV Invesco S&P MidCap Value with Momentum ETF 21.1 39 31 8.2 -0.2
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 20.9 7 63 4.6 -3.8
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 20.8 29 41 6.1 -2.4
FSMD Fidelity Small-Mid Factor ETF 20.2 29 41 5.7 -2.8
RVRS Reverse Cap Weighted U.S. Large Cap ETF 20.1 29 41 6.4 -2.1
ONEV SPDR Russell 1000 Low Volatility Focus ETF 19.5 20 50 6.3 -2.2
JKJ iShares Morningstar Small-Cap ETF 19.2 25 45 5.5 -2.9
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 19.0 60 10 6.5 -2.0
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 19.0 24 46 5.5 -2.9
VB Vanguard Small-Cap ETF 18.5 5 65 4.8 -3.7
VFVA Vanguard U.S. Value Factor ETF 18.1 14 56 9.3 +0.9
JHMM John Hancock Multifactor Mid Cap ETF 17.8 42 28 5.0 -3.5
BUY USCF SummerHaven SHPEI Index Fund 17.7 80 -10 0.0 -8.5
KBE SPDR S&P Bank ETF 17.6 35 35 8.7 +0.3
PBSM Invesco PureBeta MSCI USA Small Cap ETF 17.1 6 64 4.4 -4.0
STMB iShares Factors US Mid Blend Style ETF 17.1 30 40 5.2 -3.3
IWS iShares Russell Mid-Cap Value ETF 17.1 24 46 6.1 -2.3
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 16.8 17 53 4.3 -4.2
COWZ Pacer US Cash Cows 100 ETF 16.5 49 21 10.3 +1.8
EQAL Invesco Russell 1000 Equal Weight ETF 16.4 20 50 5.2 -3.3
PY Principal Shareholder Yield Index ETF 16.3 15 55 8.2 -0.2
SMMD iShares Russell 2500 ETF 16.2 15 55 5.1 -3.4
JVAL JPMorgan U.S. Value Factor ETF 15.8 12 58 7.4 -1.1
PSC Principal U.S. Small Cap Index ETF 15.6 38 32 5.2 -3.2
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 15.6 80 -10 5.1 -3.3
QSY WisdomTree U.S. LargeCap Value Fund 15.5 38 32 5.9 -2.6
AVUV Avantis U.S. Small Cap Value ETF 15.2 25 45 6.8 -1.7
SCHA Schwab U.S. Small-Cap ETF 15.2 4 66 4.1 -4.4
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 15.2 30 40 6.8 -1.7
MDYG SPDR S&P 400 Mid Cap Growth ETF 15.1 15 55 4.6 -3.9
IJK iShares S&P Mid-Cap 400 Growth ETF 15.1 24 46 4.5 -4.0
TUSA First Trust Total US Market AlphaDEX ETF 14.7 70 0 5.3 -3.2
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 14.6 48 22 5.8 -2.7
VALQ American Century STOXX U.S. Quality Value ETF 14.4 29 41 7.7 -0.8
ONEO SPDR Russell 1000 Momentum Focus ETF 14.2 20 50 5.9 -2.6
STLV iShares Factors US Value Style ETF 14.1 25 45 6.7 -1.8
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 14.0 15 55 4.6 -3.9
CVY Invesco Zacks Multi-Asset Income ETF 13.8 94 -24 8.9 +0.5
IFRA iShares U.S. Infrastructure ETF 13.8 40 30 4.9 -3.6
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 13.7 63 7 5.5 -2.9
JDIV JPMorgan U.S. Dividend ETF 13.5 12 58 6.8 -1.6
KRE SPDR S&P Regional Banking ETF 13.5 35 35 8.2 -0.2
NUSC Nuveen ESG Small-Cap ETF 13.4 40 30 4.2 -4.2
JKI iShares Morningstar Mid-Cap Value ETF 13.0 30 40 7.6 -0.8
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 13.0 17 53 5.9 -2.6
FNDA Schwab Fundamental U.S. Small Co. Index ETF 12.9 25 45 6.1 -2.3
MIDF iShares Edge MSCI Multifactor USA Mid-Cap ETF 12.8 25 45 7.0 -1.5
IAT iShares U.S. Regional Banks ETF 12.7 42 28 8.7 +0.2
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 12.7 20 50 4.4 -4.1
USMF WisdomTree U.S. Multifactor Fund 12.3 28 42 5.6 -2.9
JHMF John Hancock Multifactor Financials ETF 12.1 40 30 6.7 -1.8
EQWM Invesco S&P MidCap Quality ETF 12.0 25 45 5.9 -2.6
VFLQ Vanguard U.S. Liquidity Factor ETF 12.0 14 56 3.7 -4.8
RFV Invesco S&P Midcap 400 Pure Value ETF 11.9 35 35 7.7 -0.7
SYLD Cambria Shareholder Yield ETF 11.9 59 11 7.3 -1.1
IEFN iShares Evolved U.S. Financials ETF 11.8 18 52 8.0 -0.5
IWR iShares Russell Midcap ETF 11.7 19 51 5.0 -3.5
JPUS JPMorgan Diversified Return U.S. Equity ETF 11.6 18 52 5.7 -2.8
RPV Invesco S&P 500 Pure Value ETF 11.6 35 35 8.9 +0.4
FXD First Trust Consumer Discretionary AlphaDEX Fund 11.4 64 6 4.9 -3.6
VXF Vanguard Extended Market Index Fund 11.3 6 64 2.9 -5.6
FOVL iShares Focused Value Factor ETF 11.3 25 45 8.4 -0.1
ULVM VictoryShares USAA MSCI USA Value Momentum ETF 11.3 20 50 7.0 -1.5
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 11.2 24 46 5.9 -2.6
DVY iShares Select Dividend ETF 11.1 39 31 8.2 -0.2
VFMF Vanguard U.S. Multifactor ETF 11.0 19 51 6.5 -1.9
IUSS Invesco Strategic US Small Company ETF 11.0 23 47 4.3 -4.1
XMLV Invesco S&P MidCap Low Volatility ETF 10.8 25 45 5.2 -3.2
SIZE iShares MSCI USA Size Factor ETF 10.6 15 55 5.4 -3.0
SPHB Invesco S&P 500 High Beta ETF 10.6 25 45 6.8 -1.7
ALTL Pacer Lunt Large Cap Alternator ETF 10.6 60 10 4.1 -4.4
JHMI John Hancock Multifactor Industrials ETF 10.4 40 30 5.0 -3.5

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
First Trust Mid Cap Value AlphaDEX Fund
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

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.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.2 %
Divided by: Fwd. P/BV 1.2 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 8.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.55 CATEGORY
AVERAGE
1.50
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.