ETF Filings
Vanguard files for a U.S. small-mid cap active ETF after last year’s three reached $161 million
First Trust Mid Cap Growth AlphaDEX Fund
$98.76−0.46 (−0.46%)
- 0.73%
- $570M
- +10.2%
- 0.00%
- 0M sh
- $99.97
- low $85.09high $111.06
The ETF.net FNY Grade
C
Score 41 out of 100
- 12 of 13
Score 41 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 12 of 13Mission
Whether the fund did what it promised, tested against its stated mandate.A79 out of 100Rank 10 of 11Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F13 out of 100Rank 13 of 13Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C54 out of 100Rank 7 of 13Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B56 out of 100Rank 8 of 13Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B56 out of 100Rank 6 of 13
Our read on FNY
CMost mid-cap funds just own the market. FNY runs Nasdaq's AlphaDEX screen instead: rank mid-cap growth names, cut the weakest, weight by score rather than size. A quant stock-picker in index clothing.
The Fund seeks to track, before fees and expenses, the price and yield performance of the Nasdaq AlphaDEX Mid Cap Growth Index. It uses an indexing approach, normally investing at least 90% of net assets in securities comprising that index.
Why people hold it
- AlphaDEX scores mid-cap names on growth and value measures, drops the low scorers, then weights survivors by rank, not market cap. Deliberately different from a cap-weighted index.ftportfolios.com
- Spreads the bet across roughly 200-plus mid-cap stocks, with at least 90% of net assets in index constituents.
- Trading since 2011, so this screen has a long public record across several market cycles.
Worth knowing
- At 0.73% a year the fee sits well above the mid-cap peer median near 0.15%; cap-weighted rivals VO and SCHM charge 0.03%. The screen has that hurdle to clear.
- Thinly traded next to the mid-cap giants, so bid-ask spreads and order slippage matter more here.
- Rank weighting tilts toward smaller, higher-momentum names, so results can diverge widely from a standard mid-cap index, in either direction.ftportfolios.com
FNY Holdings
- Stocks
- 226
- 8%
- GTLB
Sectors
- Health Care22.6%
- Technology21.3%
- Industrials19.9%
- Consumer Discretionary12.9%
- Financials9.1%
- Real Estate6.1%
- Consumer Staples2.7%
- Communication2.5%
- Materials1.3%
- Energy1.3%
- Utilities0.3%
Geography
- United States99.06%
- United Kingdom0.49%
- Netherlands0.27%
- Ireland0.18%
FNY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
FNY$11,023
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 | FNY |
|---|---|
| Year to date | +8.8% |
| 1 month | −1.7% |
| 3 months | −5.8% |
| 1 year | +10.2% |
| 3 years | +18.7% |
| 5 years | +6.8% |
| 10 years | +12.9% |
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 | FNY |
|---|---|---|
| 2026 YTD | +8.8% | |
| 2025 | +14.0% | |
| 2024 | +18.1% | |
| 2023 | +21.1% | |
| 2022 | −23.8% | |
| 2021 | +13.5% | |
| 2020 | +37.0% |
FNY in the news
FNY Dividends
- 0.00%
No distributions in the last 12 months.
Distribution history
FNY Risk
- 19.5%
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.
- 0.71
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.
- −33.9%
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.
- 1.20
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FNY Cost
0.73%
FNY0.73%
- The middle half of US Mid-Cap funds
- Median 0.15%
11 of the 13 US Mid-Cap funds charge less.
Other funds in US Mid-Cap
- BQQQJInvesco NASDAQ Next Gen 100 ETFExpense ratio 0.15%1 year return +28.4%
- CEZMWisdomTree U.S. MidCap FundExpense ratio 0.38%1 year return +16.2%
- CFMDEFidelity Enhanced Mid Cap ETFExpense ratio 0.23%1 year return +19.7%
- CCZAInvesco Zacks Mid-Cap ETFExpense ratio 0.69%1 year return +14.4%
- FSMCPSMART Mid Cap ETFExpense ratio 0.79%1 year return —