First Trust Mid Cap Core AlphaDEX Fund
$137.12+0.26 (+0.19%)
- 0.62%
- $1.3B
- +13.6%
- 1.01%
- 0M sh
- $137.03
- low $117.48high $147.98
The ETF.net FNX Grade
C
Score 52 out of 100
- 58 of 99
Score 52 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F10 out of 100Rank 89 of 99Mission
Whether the fund did what it promised, tested against its stated mandate.A99 out of 100Rank 9 of 86Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D29 out of 100Rank 76 of 97Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B56 out of 100Rank 36 of 99Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A85 out of 100Rank 7 of 98Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A71 out of 100Rank 23 of 99
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
- 451
- 4%
- CHYM
Sectors
- Financials18.7%
- Consumer Discretionary15.5%
- Industrials14.9%
- Technology13.4%
- Health Care11.6%
- Energy7.8%
- Real Estate6.3%
- Consumer Staples3.6%
- Materials3.2%
- Utilities3.1%
- Communication1.9%
Geography
- United States97.50%
- Bermuda1.51%
- Netherlands0.32%
- Switzerland0.30%
- Puerto Rico0.22%
- Ireland0.15%
FNX Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FNX$11,360
Returns run to the Oct 12, 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 | +9.4% |
| 1 month | −3.4% |
| 3 months | −3.8% |
| 1 year | +13.6% |
| 3 years | +16.2% |
| 5 years | +7.8% |
| 10 years | +11.4% |
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 | +9.4% | |
| 2025 | +9.9% | |
| 2024 | +12.2% | |
| 2023 | +20.4% | |
| 2022 | −13.6% | |
| 2021 | +25.0% | |
| 2020 | +16.0% |
FNX in the news
FNX Dividends
- 1.01%
- $1.38
- $0.41 per share
- Quarterly
Distribution history
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.
- 0.62
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.
- 1.07
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
0.62%
FNX0.62%
- The middle half of US Multifactor funds
- Median 0.30%
88 of the 99 US Multifactor funds charge less.
Other funds in US Multifactor
- CAFLGFirst Trust Active Factor Large Cap ETFExpense ratio 0.55%1 year return +20.3%
- CFLQSFranklin U.S. Small Cap Multifactor Index ETFExpense ratio 0.35%1 year return +15.4%
- CBFORALPS ETF Trust - Barron's 400 ETFExpense ratio 0.65%1 year return +20.7%
- CGRPMInvesco S&P MidCap 400 GARP ETFExpense ratio 0.35%1 year return +21.4%
- CDSTLDistillate U.S. Fundamental Stability & Value ETFExpense ratio 0.39%1 year return +17.1%