First Trust Mid Cap Value AlphaDEX
ALTAR
Score™
9.2% info Recommen-
dation
SPECULATIVE
2019E    2020E
P/E
ratio
11.7x P/Sales
ratio
0.8x
P/BV
ratio
1.4x Div.
yield
2.8%


  • 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) $56
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 225
Wgt avg mkt cap (mns) $5,295
Large cap (>$10bn) 4.7%
Mid cap ($2-10bn) 93.4%
Small cap (<$2bn) 1.9%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
TIMKEN CO 0.9 %
CHEMOURS CO. 0.9 %
BORGWARNER INC 0.9 %
OSHKOSH CORP 0.8 %
KOHLS CORP 0.8 %
JETBLUE AIRWAYS CORP 0.8 %
RELIANCE STEEL & ALUMINUM 0.8 %
PVH CORP 0.8 %
MOHAWK INDUSTRIES INC 0.8 %
REGAL BELOIT CORP 0.8 %
Total 8.3 %

TOP COUNTRY EXPOSURE
UNITED STATES 96.6 %
BERMUDA 2.1 %
IRELAND 0.6 %
PUERTO RICO 0.6 %







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.
13.2% 2.7% 3.6% -- 7.4%

Market Correlations
versus... Beta R-squared
S&P500 1.27 74%
MSCI EAFE 1.03 41%
MSCI Emg. Mkts. 0.66 28%

Technical Indicators
Recent close $34.88
30d moving avg. $34.53
Annualized volatility 17.8%
Short interest (ETF) 0.2%
Short interest (Underlying) 7.9%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 6
Turnover 0.4%
Bid/Ask (% of price) 0.41%
ADV underlying (mns) $9,499

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the First Trust Mid Cap Value AlphaDEX 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™: 9.2%


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 Alpadex 57.8 62 8 6.8 -2.4
OMFL Oppenheimer Russell 1000 Dynamic Multifactor 43.0 29 41 9.7 +0.5
RNMC First Trust Mid Cap US Equity Select 40.2 60 10 6.7 -2.5
EZM WisdomTree Midcap Earnings 38.9 38 32 7.8 -1.3
DON WisdomTree Midcap Dividend 33.3 38 32 7.1 -2.0
IJJ iShares S&P MidCap 400 Value 32.8 25 45 7.5 -1.6
MDYV SPDR S&P400 Mid Cap Value 32.8 15 55 7.6 -1.5
JHSC John Hancock Multifactor Small Cap 32.7 50 20 5.8 -3.4
IVOV Vanguard S&P Mid-Cap 400 Value 32.6 20 50 7.7 -1.5
FAB First Trust Multi Cap Value 29.9 71 -1 8.6 -0.6
VBR Vanguard Small-Cap Value ETF 29.8 7 63 7.8 -1.3
RWK Invesco S&P MidCap 400 Revenue ETF 29.6 39 31 8.0 -1.1
FLAG Forensic Accounting 29.3 152 -82 8.9 -0.2
PVAL Principal Contrarian Value Index 27.8 29 41 7.2 -2.0
SCHM Schwab US Mid Cap 27.6 4 66 6.4 -2.8
EWMC Invesco S&P Mid Cap 400 Equal Weight 27.5 40 30 6.8 -2.4
JKL iShares Morningstar Small Cap Value 26.6 30 40 9.1 -0.0
SFYX SoFi Next 500 26.2 0 70 5.7 -3.4
IJH iShares Core S&P MidCap 26.0 7 63 6.4 -2.8
MDY S&P MidCap 400 SPDR 25.9 24 46 6.2 -3.0

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

  2014 2015 2016 2017 2018 2019E 2020E
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
  2018 2019E 2020E
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
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 12.4 %
Divided by: Fwd. P/BV 1.3 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 9.2 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.63 CATEGORY
AVERAGE
1.55
 
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.