First Trust Mid Cap Core AlphaDEX Fund
$138.26−1.10 (−0.79%)
- Expense ratio
- 0.62%
- Fund size
- $1.3B
- 1Y return
- +11.6%
- Yield · Last 12 months
- 0.84%
- Holdings
- 449
- Volume · 30D
- 0M sh
- NAV per share
- $139.16
- 52W range
The ETF.net FNX Grade
Score 53 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 10Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 31Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 59Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 83Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 71Category rank
Our read on FNX
COne of the original smart-beta funds (2007): FNX runs the Nasdaq US 600 mid caps through First Trust's AlphaDEX growth-and-value screen and holds roughly 500 survivors. Screened mid-cap exposure, priced closer to active management.
The Fund is an exchange-traded fund seeking results that generally correspond to the price and yield of the Nasdaq AlphaDEX Mid Cap Core Index before fees and expenses. The index uses an enhanced selection process for stocks from the Nasdaq US 600 Mid Cap Index.
Why people hold it
- Launched in 2007, before smart beta was even a marketing category. The AlphaDEX screen has been grinding through mid caps for more than 15 years.ftportfolios.com
- Not a closet mid-cap index. Names are pulled from the Nasdaq US 600 Mid Cap universe by an enhanced selection process that scores stocks on growth and value marks.ftportfolios.com
- Roughly 500 holdings, so no single stock steers the fund. Distributions land quarterly.
- A multi-billion-dollar fund and the mid-cap anchor of First Trust's AlphaDEX lineup, which has kept the strategy funded through multiple market cycles.
Worth knowing
- At 0.62%, it sits near the top of the US multifactor cost range. Broad rivals such as VONV and IUSG charge a small fraction of that.
- Thinly traded next to the category's giants, so the spread you pay at the screen can matter as much as the expense ratio.
- Screening on growth and value together means the portfolio can look nothing like a plain mid-cap index, in either direction. That is the design, not a defect.
FNX Holdings
- Stocks
- 449
- 5%
- DINO
Sectors
- Financials19.1%
- Consumer Discr.15.9%
- Industrials14.9%
- Technology12.3%
- Health Care11.3%
- Energy8.2%
- Real Estate6.3%
- Cons. Staples3.8%
- Materials3.3%
- Utilities3.1%
- Communication1.9%
Geography
- United States98.17%
- Bermuda1.50%
- United Kingdom0.17%
- Puerto Rico0.15%
FNX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FNX |
|---|---|
| Year to date | +11.1% |
| 1 month | −4.5% |
| 3 months | −2.9% |
| 1 year | +11.6% |
| 3 years | +16.3% |
| 5 years | +8.3% |
| 10 years | +11.3% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FNX |
|---|---|---|
| 2026 YTD | +11.1% | |
| 2025 | +9.9% | |
| 2024 | +12.2% | |
| 2023 | +20.4% | |
| 2022 | −13.6% | |
| 2021 | +25.0% | |
| 2020 | +16.0% |
FNX in the news
ETF.net Research hasn’t filed on FNX yet — coverage lands here as it’s written.
FNX Dividends
- 0.84%
- $1.17
- $0.27 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 25, 2026 | Jun 30, 2026 | $0.27 |
| Mar 26, 2026 | Mar 31, 2026 | $0.31 |
| Dec 12, 2025 | Dec 31, 2025 | $0.39 |
| Sep 25, 2025 | Sep 30, 2025 | $0.19 |
| Jun 26, 2025 | Jun 30, 2025 | $0.27 |
| Mar 27, 2025 | Mar 31, 2025 | $0.26 |
| Dec 13, 2024 | Dec 31, 2024 | $0.47 |
| Sep 26, 2024 | Sep 30, 2024 | $0.48 |
| Jun 27, 2024 | Jun 28, 2024 | $0.35 |
| Mar 21, 2024 | Mar 28, 2024 | $0.17 |
| Dec 22, 2023 | Dec 29, 2023 | $0.44 |
| Sep 22, 2023 | Sep 29, 2023 | $0.24 |
FNX Risk
- 17.6%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.63
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −25.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.06
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FNX Cost
- The middle half of US Multifactor funds
- Median 0.30%
87 of the 98 US Multifactor funds charge less.