First Trust Mid Cap Core AlphaDEX Fund
ALTAR
Score™
6.4% info Recommen-
dation
NEUTRAL
2020E    2021E
P/E
ratio
66.5x P/Sales
ratio
1.1x
P/BV
ratio
1.5x Div.
yield
2.0%


  • 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 08, 2007
Assets (mns) $594
Currency USD
Expense ratio 61 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 451
Wgt avg mkt cap (mns) $5,103
Large cap (>$10bn) 7.8%
Mid cap ($2-10bn) 86.8%
Small cap (<$2bn) 5.4%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ENCANA CORP 1.1 %
MURPHY OIL CORP 0.6 %
TARGA RESOURCES CORP 0.6 %
THOR INDUSTRIES INC 0.6 %
WPX ENERGY 0.6 %
DICK'S SPORTING GOODS INC 0.6 %
PARSLEY ENERGY INC-CLASS A 0.5 %
CARVANA CO. CLASS A 0.5 %
MARATHON OIL CORP 0.5 %
QUIDEL CORP 0.5 %
Total 6.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.2 %
BERMUDA 2.2 %
CANADA 1.1 %
IRELAND 0.5 %
SWITZERLAND 0.4 %
BRITAIN 0.4 %
PUERTO RICO 0.2 %




HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-13.4% -7.9% 4.1% 10.4% 6.6%

Market Correlations
versus... Beta R-squared
S&P500 1.39 91%
MSCI EAFE 1.39 81%
MSCI Emg. Mkts. 1.01 67%

Technical Indicators
Recent close $62.85
30d moving avg. $62.92
Annualized volatility 24.6%
Short interest (ETF) 0.2%
Short interest (Underlying) 6.8%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 42
Turnover 0.4%
Bid/Ask (% of price) 0.16%
ADV underlying (mns) $42,020

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the First Trust Mid Cap Core AlphaDEX Fund 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: 61 bp ALTAR Score™: 6.4%


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
(%)
FNK First Trust Mid Cap Value AlphaDEX Fund 52.8 70 -9 10.3 +3.9
EZM WisdomTree U.S. MidCap Earnings Fund 48.9 38 23 9.2 +2.8
RNMC Mid Cap US Equity Select ETF 48.5 60 1 7.7 +1.4
FNY First Trust Mid Cap Growth AlphaDEX Fund 45.8 70 -9 2.1 -4.3
SFYX Sofi Next 500 ETF 45.5 0 61 5.9 -0.4
JHSC John Hancock Multifactor Small Cap ETF 43.7 42 19 5.9 -0.5
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 43.5 7 54 5.5 -0.9
VB Vanguard Small-Cap ETF 42.8 5 56 5.4 -1.0
FSMD Fidelity Small-Mid Factor ETF 42.3 29 32 7.0 +0.7
BKSE BNY Mellon US Small Cap Core Equity ETF 42.0 4 57 5.7 -0.7
PBSM Invesco PureBeta MSCI USA Small Cap ETF 40.8 6 55 5.3 -1.1
EWMC Invesco S&P MidCap 400 Equal Weight ETF 40.6 40 21 7.2 +0.8
SCHM Schwab U.S. Mid-Cap ETF 40.3 4 57 6.3 -0.1
MDY SPDR S&P Midcap 400 ETF Trust 39.8 23 38 6.4 +0.1
SPMD SPDR Portfolio Mid Cap ETF 39.8 5 56 6.6 +0.2
IJH iShares Core S&P Mid-Cap ETF 39.7 6 55 6.6 +0.2
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 39.6 17 44 5.2 -1.2
IVOO Vanguard S&P Mid-Cap 400 ETF 38.1 10 51 6.5 +0.1
SCHA Schwab U.S. Small-Cap ETF 35.3 4 57 4.7 -1.7
SMDY Syntax Stratified MidCap ETF 34.7 30 31 6.4 -0.0
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 34.2 20 41 9.4 +3.1
AFMC First Trust Active Factor Mid Cap ETF 34.1 65 -4 6.3 -0.1
VBK Vanguard Small-Cap Growth Index Fund 33.3 7 54 2.4 -4.0
VBR Vanguard Small Cap Value Index Fund 33.3 7 54 8.4 +2.0
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 32.9 29 32 9.8 +3.4
VXF Vanguard Extended Market Index Fund 32.7 7 54 3.7 -2.6
RWK Invesco S&P MidCap 400 Revenue ETF 32.6 39 22 8.1 +1.7
DON WisdomTree U.S. MidCap Dividend Fund 31.3 38 23 7.7 +1.3
FAB First Trust Multi Cap Value AlphaDEX Fund 30.3 71 -10 9.5 +3.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 28.9 66 -5 2.5 -3.9
MDYG SPDR S&P 400 Mid Cap Growth ETF 28.5 15 46 5.0 -1.4
IJK iShares S&P Mid-Cap 400 Growth ETF 28.4 24 37 4.9 -1.5
JKL iShares Morningstar Small Cap Value ETF 28.3 30 31 10.4 +4.0
JHMM John Hancock Multifactor Mid Cap ETF 28.2 42 19 5.8 -0.6
TUSA First Trust Total US Market AlphaDEX ETF 27.5 70 -9 5.9 -0.4
PVAL Principal Contrarian Value Index ETF 27.4 29 32 10.1 +3.7
NUSC Nuveen ESG Small-Cap ETF 27.1 40 21 5.4 -1.0
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 27.0 15 46 4.9 -1.5
IJJ iShares S&P Mid-Cap 400 Value ETF 26.9 25 36 8.6 +2.2
MDYV SPDR S&P 400 Mid Cap Value ETF 26.9 15 46 8.7 +2.3
IVOV Vanguard S&P Mid-Cap 400 Value ETF 26.1 15 46 8.6 +2.2
EQAL Invesco Russell 1000 Equal Weight ETF 26.0 20 41 5.7 -0.7
SMMD iShares Russell 2500 ETF 25.7 15 46 5.4 -0.9
VTWO Vanguard Russell 2000 Index Fund 25.5 10 51 3.7 -2.7
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 25.0 24 37 6.2 -0.2
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 24.3 29 32 6.7 +0.3
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 24.3 24 37 7.2 +0.8
FNDA Schwab Fundamental U.S. Small Co. Index ETF 23.3 25 36 6.7 +0.3
VTWG Vanguard Russell 2000 Growth Index Fund 23.2 15 46 0.8 -5.6
JKK iShares Morningstar Small-Cap Growth ETF 22.8 30 31 1.1 -5.2
OUSM O'Shares FTSE Russell Small Cap Quality Dividend ETF 22.6 48 13 5.7 -0.7
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 22.5 20 41 6.0 -0.4
IUSS Invesco Strategic US Small Company ETF 22.5 23 38 5.5 -0.9
ONEO SPDR Russell 1000 Momentum Focus ETF 21.6 20 41 6.4 +0.1
IWR iShares Russell Midcap ETF 20.5 19 42 5.6 -0.8
IWM iShares Russell 2000 ETF 19.6 19 42 3.6 -2.8
VFLQ Vanguard U.S. Liquidity Factor ETF 19.5 14 47 4.7 -1.7
ONEY SPDR Russell 1000 Yield Focus ETF 19.4 20 41 9.3 +2.9
ONEV SPDR Russell 1000 Low Volatility Focus ETF 19.3 20 41 7.0 +0.7
IWS iShares Russell Mid-Cap Value ETF 18.9 24 37 7.2 +0.9
AFSM First Trust Active Factor Small Cap ETF 18.4 75 -14 5.7 -0.7
TPLC Timothy Plan US Large Cap Core ETF 18.4 52 9 5.5 -0.9
IWP iShares Russell Mid-Cap Growth ETF 18.1 24 37 4.1 -2.3
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 17.9 29 32 5.6 -0.8
DEUS Xtrackers Russell 1000 Comprehensive Factor ETF 17.8 17 44 6.4 0.0
PMOM Principal Sustainable Momentum Index ETF 17.5 29 32 9.0 +2.6
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 17.5 39 22 4.2 -2.2
VFVA Vanguard U.S. Value Factor ETF 17.4 14 47 11.5 +5.1
BFOR Barron's 400 ETF 17.4 65 -4 6.3 -0.1
JKJ iShares Morningstar Small-Cap ETF 17.2 25 36 6.7 +0.3
RFG Invesco S&P Midcap 400 Pure Growth ETF 17.2 35 26 4.0 -2.4
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 16.6 30 31 7.8 +1.4
VFMO Vanguard U.S. Momentum Factor ETF 16.0 13 48 1.1 -5.2
CFA VictoryShares US 500 Volatility Weighted Index ETF 16.0 35 26 5.9 -0.5
BKMC BNY Mellon US Mid Cap Core Equity ETF 15.7 4 57 5.7 -0.6
IWO iShares Russell 2000 Growth ETF 15.6 24 37 0.8 -5.6
VFMF Vanguard U.S. Multifactor ETF 15.4 19 42 7.2 +0.8
VFQY Vanguard U.S. Quality Factor ETF 15.3 13 48 6.0 -0.4
JVAL JPMorgan U.S. Value Factor ETF 15.1 12 49 8.7 +2.3
USMF WisdomTree U.S. Multifactor Fund 15.1 28 33 5.4 -1.0
AUSF Global X Adaptive U.S. Factor ETF 15.0 27 34 7.9 +1.6
TILT Flexshares Morningstar US Market Factors Tilt Index Fund 14.3 25 36 6.6 +0.2
AVUV Avantis U.S. Small Cap Value ETF 14.2 25 36 9.3 +2.9
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 14.0 30 31 5.7 -0.7
VUSE Vident Core US Equity Fund 14.0 48 13 8.3 +1.9
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 13.9 20 41 4.7 -1.7
FXD First Trust Consumer Discretionary AlphaDEX Fund 13.8 64 -3 7.7 +1.3
VALQ American Century STOXX U.S. Quality Value ETF 13.7 29 32 9.1 +2.7
JKH iShares Morningstar Mid-Cap Growth ETF 12.8 30 31 2.2 -4.1
IWN iShares Russell 2000 Value ETF 12.5 24 37 7.3 +0.9
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 12.5 35 26 6.4 -0.0
ROUS Hartford Multifactor US Equity ETF 12.4 19 42 7.3 +0.9
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 12.4 29 32 1.8 -4.6
PSC Principal U.S. Small Cap Index ETF 12.3 38 23 7.1 +0.7
JDIV JPMorgan U.S. Dividend ETF 12.1 12 49 7.8 +1.5
PXMV Invesco S&P MidCap Value with Momentum ETF 11.9 39 22 10.2 +3.8
XMMO Invesco S&P MidCap Momentum ETF 11.8 39 22 4.7 -1.7
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 11.7 30 31 5.9 -0.5
JPUS JPMorgan Diversified Return U.S. Equity ETF 11.6 18 43 6.2 -0.2
VTWV Vanguard Russell 2000 Value Index Fund 11.4 15 46 7.4 +1.1

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

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 10.2 %
Divided by: Fwd. P/BV 1.5 x
Less: Expense ratio 61 bp
Equals: ALTAR Score 6.4 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.54 CATEGORY
AVERAGE
1.52
 
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.