First Trust Mid Cap Core Alpadex
ALTAR
Score™
6.6% info Recommen-
dation
OVERWEIGHT
2019E    2020E
P/E
ratio
16.0x P/Sales
ratio
1.2x
P/BV
ratio
1.9x Div.
yield
2.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
First Trust Mid Cap Core AlphaDEX Fund is an closed-end Fund incorporated in the USA. The Fund seeks investment results that correspond to the Defined Mid Cap Core Index.

FUND BASICS
Category US Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date May 10, 2007
Assets (mns) $878
Currency USD
Expense ratio 62 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 452
Wgt avg mkt cap (mns) $5,804
Large cap (>$10bn) 6.8%
Mid cap ($2-10bn) 90.7%
Small cap (<$2bn) 2.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ARROWHEAD PHARMACEUTICALS, INC. 0.6 %
ROKU, INC. CLASS A 0.6 %
CARVANA CO. CLASS A 0.5 %
ACADIA PHARMACEUTICALS INC 0.5 %
XEROX CORP 0.5 %
NOVOCURE LIMITED 0.4 %
TIMKEN CO 0.4 %
OSHKOSH CORP 0.4 %
GENERAC HOLDINGS INC 0.4 %
ONEMAIN HOLDINGS, INC. 0.4 %
Total 4.7 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
BERMUDA 2.5 %
IRELAND 0.8 %
BRITAIN 0.4 %
PUERTO RICO 0.3 %
CAYMAN ISLANDS 0.1 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
24.4% 10.1% 7.4% 12.3% 7.9%

Market Correlations
versus... Beta R-squared
S&P500 1.21 86%
MSCI EAFE 1.06 55%
MSCI Emg. Mkts. 0.73 42%

Technical Indicators
Recent close $70.82
30d moving avg. $70.40
Annualized volatility 15.7%
Short interest (ETF) 0.0%
Short interest (Underlying) 6.8%
Relative strength (RSI) 61

Liquidity measures
Avg. volume (thou.) 26
Turnover 0.2%
Bid/Ask (% of price) 0.08%
ADV underlying (mns) $24,828

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the First Trust Mid Cap Core Alpadex ETF based on the alternatives' overlap in portfolio holdings with FNX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: FNX Expense: 62 bp ALTAR Score™: 6.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FNX
Ticker Fund
Name
Overlap1
vs FNX
(%)
Expense
ratio
(bp)
Savings
vs FNX
(bp)
ALTAR
Score™
(%)
ALTAR
vs FNX
(%)
RNMC First Trust Mid Cap US Equity Select 57.7 60 2 6.6 +0.0
FNK First Trust Mid Cap Value AlphaDEX 57.4 70 -8 8.9 +2.3
EZM WisdomTree Midcap Earnings 51.4 38 24 7.7 +1.1
SFYX SoFi Next 500 48.0 0 62 5.6 -1.0
JHSC John Hancock Multifactor Small Cap 46.9 50 12 5.7 -0.9
SCHM Schwab US Mid Cap 46.7 4 58 6.3 -0.3
FSMD Fidelity Small-Mid Factor ETF 43.3 29 33 6.4 -0.2
VB Vanguard Smallcap ETF 42.6 5 57 5.5 -1.1
OMFL Oppenheimer Russell 1000 Dynamic Multifactor 42.3 29 33 9.4 +2.8
EWMC Invesco S&P Mid Cap 400 Equal Weight 41.9 40 22 6.6 +0.0
IJH iShares Core S&P MidCap 40.4 7 55 6.3 -0.3
MDY S&P MidCap 400 SPDR 40.3 24 38 6.1 -0.5
OSIZ Invesco Russell 1000 Size Factor ETF 40.3 19 43 6.2 -0.4
FNY First Trust Mid Cap Growth AlphaDEX 40.2 70 -8 3.6 -3.0
IVOO Vanguard S&P Mid-Cap 400 40.2 15 47 6.2 -0.4
DON WisdomTree Midcap Dividend 39.9 38 24 7.0 +0.4
PSM Principal U.S. Small-MidCap Multi-Factor Core Index 39.4 20 42 6.9 +0.3
VBR Vanguard Small-Cap Value ETF 39.1 7 55 7.7 +1.1
PBSM Invesco PureBeta MSCI USA Small Cap 38.8 6 56 5.3 -1.3
SPMD SPDR Portfolio Mid Cap 37.6 5 57 6.1 -0.5

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

  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

Content on this tab for subscribers only

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 Core Alpadex
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

OVERWEIGHT

Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 12.7 %
Divided by: Fwd. P/BV 1.8 x
Less: Expense ratio 62 bp
Equals: ALTAR Score 6.6 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.58 CATEGORY
AVERAGE
1.56
 
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.