First Trust Mid Cap Growth AlphaDEX Fund
ALTAR
Score™
2.0% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
47.6x P/Sales
ratio
3.2x
P/BV
ratio
6.0x Div.
yield
0.5%


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

FUND BASICS
Category US Equities
Fund Sponsor First Trust Advisors LP
Website www.ftportfolios.com
Inception date Apr 19, 2011
Assets (mns) $434
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) $9,131
Large cap (>$10bn) 25.3%
Mid cap ($2-10bn) 73.0%
Small cap (<$2bn) 1.7%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ENPHASE ENERGY INC 0.9 %
DARLING INTERNATIONAL INC 0.9 %
BOSTON BEER COMPANY INC-CL A 0.9 %
CHEWY, INC. CLASS A 0.8 %
INSMED INC 0.8 %
SAILPOINT TECHNOLOGIES HOLDINGS, I 0.8 %
10X GENOMICS INC CLASS A 0.8 %
LIVEPERSON INC 0.8 %
YETI HOLDINGS, INC. 0.8 %
HANESBRANDS INC 0.8 %
Total 8.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 95.9 %
BERMUDA 1.1 %
BRITAIN 1.0 %
SWITZERLAND 0.8 %
CAYMAN ISLANDS 0.6 %
IRELAND 0.4 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru September 30)
Year-to-date 1 year 5 years 10 years Since Incep.
12.0% 20.0% 14.1% -- 10.8%

Market Correlations
versus... Beta R-squared
S&P500 1.16 84%
MSCI EAFE 1.15 68%
MSCI Emg. Mkts. 0.82 54%

Technical Indicators
Recent close $56.67
30d moving avg. $54.81
Annualized volatility 22.5%
Short interest (ETF) 1.1%
Short interest (Underlying) 5.2%
Relative strength (RSI) 67

Liquidity measures
Avg. volume (thou.) 64
Turnover 0.8%
Bid/Ask (% of price) 0.12%
ADV underlying (mns) $27,719

Distributions


FINDING ALTERNATIVE FUNDS

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

Benchmark ticker: FNY Expense: 70 bp ALTAR Score™: 2.0%


ALTERNATIVE ETFs BASED ON OVERLAP WITH FNY
Ticker Fund
Name
Overlap1
vs FNY
(%)
Expense
ratio
(bp)
Savings
vs FNY
(bp)
ALTAR
Score™
(%)
ALTAR
vs FNY
(%)
FNX First Trust Mid Cap Core AlphaDEX Fund 43.4 61 9 6.2 +4.2
JKK iShares Morningstar Small-Cap Growth ETF 41.8 30 40 1.0 -1.0
VBK Vanguard Small-Cap Growth Index Fund 35.9 7 63 2.2 +0.2
IJK iShares S&P Mid-Cap 400 Growth ETF 33.0 24 46 4.7 +2.7
BKSE BNY Mellon US Small Cap Core Equity ETF 31.5 4 66 5.5 +3.5
FAD First Trust Multi Cap Growth AlphaDEX Fund 30.1 66 4 2.2 +0.2
SFYX Sofi Next 500 ETF 30.0 0 70 5.6 +3.6
IWO iShares Russell 2000 Growth ETF 28.9 24 46 -0.1 -2.2
JHSC John Hancock Multifactor Small Cap ETF 28.6 42 28 5.3 +3.3
MDYG SPDR S&P 400 Mid Cap Growth ETF 27.9 15 55 4.8 +2.8
PBSM Invesco PureBeta MSCI USA Small Cap ETF 27.6 6 64 4.9 +2.9
ESML iShares MSCI USA Small-Cap ESG Optimized ETF 27.2 17 53 4.6 +2.6
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 26.6 15 55 4.7 +2.7
MDY SPDR S&P Midcap 400 ETF Trust 26.3 23 47 6.1 +4.1
SPMD SPDR Portfolio Mid Cap ETF 26.2 5 65 6.3 +4.3
IJH iShares Core S&P Mid-Cap ETF 26.2 5 65 6.3 +4.3
VTWG Vanguard Russell 2000 Growth Index Fund 26.0 15 55 0.1 -1.9
SCHM Schwab U.S. Mid-Cap ETF 25.8 4 66 5.7 +3.7
IVOO Vanguard S&P Mid-Cap 400 ETF 24.9 10 60 6.1 +4.0
SCHA Schwab U.S. Small-Cap ETF 24.7 4 66 4.6 +2.5
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 24.7 7 63 5.0 +3.0
FSMD Fidelity Small-Mid Factor ETF 24.2 29 41 6.0 +4.0
VB Vanguard Small-Cap ETF 24.2 5 65 5.1 +3.0
AFMC First Trust Active Factor Mid Cap ETF 22.8 65 5 6.1 +4.0
AFSM First Trust Active Factor Small Cap ETF 22.2 75 -5 5.3 +3.3
XMMO Invesco S&P MidCap Momentum ETF 22.2 34 36 3.8 +1.7
SMDY Syntax Stratified MidCap ETF 21.5 30 40 6.5 +4.5
EWMC Invesco S&P MidCap 400 Equal Weight ETF 21.3 40 30 7.0 +4.9
NUSC Nuveen ESG Small-Cap ETF 21.3 40 30 4.6 +2.6
EZM WisdomTree U.S. MidCap Earnings Fund 20.3 38 32 8.4 +6.3
IWM iShares Russell 2000 ETF 19.4 19 51 3.2 +1.2
USVM VictoryShares USAA MSCI USA Small Cap Value Momentum ETF 19.2 24 46 6.3 +4.3
VTWO Vanguard Russell 2000 Index Fund 19.1 10 60 3.4 +1.4
RFG Invesco S&P Midcap 400 Pure Growth ETF 19.0 35 35 3.8 +1.8
VXF Vanguard Extended Market Index Fund 17.1 6 64 3.4 +1.4
XSW SPDR S&P Software & Services ETF 16.9 35 35 4.3 +2.3
IJJ iShares S&P Mid-Cap 400 Value ETF 16.6 25 45 7.9 +5.9
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 16.4 20 50 4.7 +2.6
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 15.8 29 41 4.8 +2.8
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 15.4 30 40 5.4 +3.4
STSB iShares Factors US Small Blend Style ETF 15.3 35 35 3.5 +1.5
SMMD iShares Russell 2500 ETF 15.3 15 55 5.5 +3.5
JHMM John Hancock Multifactor Mid Cap ETF 15.0 42 28 5.3 +3.3
BTEC Principal Healthcare Innovators Index ETF 15.0 42 28 -2.2 -4.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 14.7 39 31 4.4 +2.4
JKJ iShares Morningstar Small-Cap ETF 14.7 25 45 6.1 +4.1
VFMO Vanguard U.S. Momentum Factor ETF 14.1 13 57 0.7 -1.3
RNMC Mid Cap US Equity Select ETF 14.1 60 10 7.2 +5.2
IUSS Invesco Strategic US Small Company ETF 13.8 23 47 5.0 +3.0
IWP iShares Russell Mid-Cap Growth ETF 13.7 24 46 2.8 +0.8
PDP Invesco DWA Momentum ETF 13.2 62 8 2.3 +0.3
FLQS Franklin LibertyQ U.S. Small Cap Equity ETF 13.0 35 35 5.7 +3.7
USMF WisdomTree U.S. Multifactor Fund 13.0 28 42 5.6 +3.6
RWK Invesco S&P MidCap 400 Revenue ETF 12.9 39 31 7.7 +5.7
BFOR Barron's 400 ETF 12.6 65 5 6.3 +4.2
SMLF iShares Edge MSCI Multifactor USA Small-Cap ETF 12.4 30 40 7.3 +5.3
MDYV SPDR S&P 400 Mid Cap Value ETF 12.4 15 55 8.1 +6.1
TUSA First Trust Total US Market AlphaDEX ETF 12.1 70 0 5.5 +3.5
TPLC Timothy Plan US Large Cap Core ETF 12.0 52 18 5.1 +3.1
DON WisdomTree U.S. MidCap Dividend Fund 11.9 38 32 7.3 +5.2
FNDA Schwab Fundamental U.S. Small Co. Index ETF 11.7 25 45 7.0 +5.0
VBR Vanguard Small Cap Value Index Fund 11.7 7 63 7.7 +5.7
DWAS Invesco DWA SmallCap Momentum ETF 11.5 60 10 -2.0 -4.0
PSM Principal U.S. Small-MidCap Multi-Factor Core Index ETF 11.4 20 50 8.8 +6.8
STMB iShares Factors US Mid Blend Style ETF 11.3 30 40 5.5 +3.4
SMMV iShares Edge MSCI Min Vol USA Small-Cap ETF 11.3 20 50 4.5 +2.5
IVOV Vanguard S&P Mid-Cap 400 Value ETF 11.3 15 55 8.0 +5.9
EQAL Invesco Russell 1000 Equal Weight ETF 11.1 20 50 5.7 +3.7
USEQ Invesco Russell 1000 Enhanced Equal Weight ETF 11.0 29 41 6.6 +4.5
PQSG PGIM QMA Strategic Alpha Small-Cap Growth ETF 10.7 29 41 0.2 -1.9
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 10.4 24 46 5.9 +3.8
FPX First Trust US IPO Index Fund 10.4 58 12 1.4 -0.7
IBB iShares NASDAQ Biotechnology ETF 10.0 46 24 0.5 -1.5
VFMF Vanguard U.S. Multifactor ETF 9.6 19 51 7.1 +5.1
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 9.5 80 -10 5.5 +3.5
VIOG Vanguard S&P Small-Cap 600 Growth ETF 9.5 16 54 5.2 +3.1
IGV iShares Expanded Tech-Software ETF 9.5 46 24 2.2 +0.2
CFA VictoryShares US 500 Volatility Weighted Index ETF 9.3 35 35 5.5 +3.5
CFO VictoryShares US 500 Enhanced Volatility Weighted Index ETF 9.3 35 35 5.5 +3.5
IBBJ Defiance Nasdaq Junior Biotechnology ETF 9.3 45 25 -2.0 -4.1
XBI SPDR S&P BIOTECH ETF 9.2 35 35 -2.1 -4.1
QMOM Alpha Architect U.S. Quantitative Momentum ETF 9.1 49 21 1.2 -0.9
ONEO SPDR Russell 1000 Momentum Focus ETF 9.1 20 50 6.2 +4.1
IWR iShares Russell Midcap ETF 9.1 19 51 5.3 +3.2
IEIH iShares Evolved U.S. Innovative Healthcare ETF 9.1 18 52 3.3 +1.3
IJT iShares S&P Small-Cap 600 Growth ETF 8.9 25 45 5.3 +3.3
SLYG SPDR S&P 600 Small Cap Growth ETF 8.9 15 55 5.2 +3.2
WCLD WisdomTree Cloud Computing Fund 8.6 45 25 8.7 +6.7
HELX Franklin Genomic Advancements ETF 8.4 50 20 -1.2 -3.2
VFQY Vanguard U.S. Quality Factor ETF 8.4 13 57 6.2 +4.1
GDNA Goldman Sachs Motif Human Evolution ETF 8.4 50 20 0.5 -1.5
VIOO Vanguard S&P Small-Cap 600 ETF 8.4 10 60 6.7 +4.7
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 8.4 63 7 5.8 +3.8
VFLQ Vanguard U.S. Liquidity Factor ETF 8.3 14 56 4.0 +2.0
XITK SPDR FactSet Innovative Technology ETF 8.3 45 25 0.2 -1.8
ETHO Etho Climate Leadership U.S. ETF 8.3 47 23 4.2 +2.2
PXSG Invesco S&P SmallCap Momentum ETF 8.2 39 31 3.7 +1.7
QGRO American Century STOXX U.S. Quality Growth ETF 8.2 29 41 3.7 +1.7
JHMC John Hancock Multifactor Consumer Discretionary ETF 8.0 40 30 3.8 +1.7
FLQM Franklin LibertyQ U.S. Mid Cap Equity ETF 7.8 30 40 5.4 +3.4

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

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 14.7 %
Divided by: Fwd. P/BV 5.4 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 2.0 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.44 CATEGORY
AVERAGE
1.51
 
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.