First Trust Mid Cap Growth AlphaDEX
ALTAR
Score™
3.5% info Recommen-
dation
AVOID
2019E    2020E
P/E
ratio
25.1x P/Sales
ratio
2.7x
P/BV
ratio
3.8x Div.
yield
1.2%


  • 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) $323
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) $5,919
Large cap (>$10bn) 5.5%
Mid cap ($2-10bn) 92.0%
Small cap (<$2bn) 2.5%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
ENPHASE ENERGY INC 0.9 %
TELADOC INC 0.8 %
PAYLOCITY HOLDING CORP 0.8 %
TOPBUILD CORP 0.8 %
AXON ENTERPRISE INC 0.8 %
CABOT MICROELECTRONICS CORP 0.8 %
FIVE9 INC 0.8 %
AMEDISYS INC 0.8 %
FTI CONSULTING INC 0.8 %
LHC GROUP INC 0.8 %
Total 8.1 %

TOP COUNTRY EXPOSURE
UNITED STATES 94.8 %
BERMUDA 2.5 %
BRITAIN 1.3 %
IRELAND 0.7 %
SWITZERLAND 0.7 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru December 31)
Year-to-date 1 year 5 years 10 years Since Incep.
32.5% 32.5% 10.6% -- 10.3%

Market Correlations
versus... Beta R-squared
S&P500 1.18 78%
MSCI EAFE 0.98 44%
MSCI Emg. Mkts. 0.62 31%

Technical Indicators
Recent close $48.93
30d moving avg. $48.22
Annualized volatility 16.2%
Short interest (ETF) 0.2%
Short interest (Underlying) 5.2%
Relative strength (RSI) 71

Liquidity measures
Avg. volume (thou.) 32
Turnover 0.5%
Bid/Ask (% of price) 0.38%
ADV underlying (mns) $11,285

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the First Trust Mid Cap Growth AlphaDEX 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™: 3.5%


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 Alpadex 40.8 62 8 6.5 +3.0
VBK Vanguard Small-Cap Growth ETF 37.7 7 63 2.7 -0.8
JKK iShares Morningstar Small Cap Growth 35.5 30 40 1.2 -2.3
IJK iShares S&P MidCap 400 Growth 34.2 24 46 4.6 +1.1
MDYG SPDR S&P400 Mid Cap Growth 34.1 15 55 4.7 +1.2
IVOG Vanguard S&P Mid-Cap 400 Growth 34.1 20 50 4.8 +1.3
SFYX SoFi Next 500 29.8 0 70 5.5 +2.0
FAD First Trust Multi Cap Growth 29.8 69 1 3.2 -0.3
JHSC John Hancock Multifactor Small Cap 28.7 50 20 5.5 +2.0
VB Vanguard Smallcap ETF 26.8 5 65 5.4 +1.9
RNMC First Trust Mid Cap US Equity Select 26.8 60 10 6.4 +2.9
FSMD Fidelity Small-Mid Factor ETF 26.4 29 41 6.2 +2.7
MDY S&P MidCap 400 SPDR 26.4 24 46 6.0 +2.5
IJH iShares Core S&P MidCap 26.4 7 63 6.1 +2.6
IVOO Vanguard S&P Mid-Cap 400 26.3 15 55 6.0 +2.5
RFG Invesco S&P Midcap 400 Pure Growth 26.1 35 35 3.5 +0.0
PBSM Invesco PureBeta MSCI USA Small Cap 25.6 6 64 5.2 +1.7
PSM Principal U.S. Small-MidCap Multi-Factor Core Index 24.9 20 50 6.6 +3.1
SCHM Schwab US Mid Cap 24.8 4 66 6.0 +2.5
ESML iShares MSCI USA Small-Cap ESG Optimized 24.2 17 53 4.7 +1.2

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%.

Content on this tab for subscribers only**

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 Growth AlphaDEX
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 14.2 %
Divided by: Fwd. P/BV 3.4 x
Less: Expense ratio 70 bp
Equals: ALTAR Score 3.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.51 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.