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ETFs

First Trust Mid Cap Core AlphaDEX Fund

FNX
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
May 08 2007
Expense Ratio
0.59%
Type
US Equities
Fund Owner
First Trust
Volume (1m avg. daily)
$2,110,437
AUM
$995,824,182
Associated Index
NASDAQ AlphaDEX Mid Cap Core Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

WFRD
Weatherford International plc - Ordinary Shares - New
0.53%
PBF
PBF Energy Inc - Ordinary Shares - Class A
0.51%
DINO
HF Sinclair Corp.
0.50%
X
United States Steel Corp.
0.50%
VST
Vistra Corp
0.49%
JXN
Jackson Financial Inc - Ordinary Shares - Class A
0.49%
R
Ryder System, Inc.
0.48%
WAL
Western Alliance Bancorp
0.48%
SM
SM Energy Co
0.46%
LII
Lennox International Inc
0.45%
Invest with FNX

What is FNX?

The Fund will seek investment results that correspond generally to the price and yield (before the Fund s fees and expenses) of an equity index called the NASDAQ AlphaDEX Mid Cap Core Index (the New Index ). The Index is a modified equal dollar-weighted index developed and maintained by The NASDAQ OMX Group, Inc. that is designed to generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX selection methodology. The NASDAQ AlphaDEX Mid Cap Core Index is an enhanced index created and administered by Nasdaq, Inc. ( Nasdaq ) which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 600 Mid Cap Index that meet certain criteria. Nasdaq constructs the NASDAQ AlphaDEX Mid Cap Core Index by ranking the eligible stocks from the NASDAQ US 600 Mid Cap Index on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets. All stocks are ranked on the sum of ranks for the growth factors and, separately, all stocks are ranked on the sum of ranks for the value factors. A stock must have data for all growth and/or value factors to receive a rank for that style. Each stock receives either its growth or value score as it s selection score based on it s style designation as determined by Nasdaq. The top 450 stocks based on the selection score determined in the previous step comprise the selected stocks . The selected stocks are divided into quintiles based on their rankings and the top ranked quintiles receive a higher weight within the index. The stocks are equally-weighted within each quintile. The index is reconstituted and rebalanced quarterly.

ETFs related toFNX

ETFs correlated to FNX include IJH, IVOO, MDY

FNX
First Trust Exchange-Traded Fund III - First Trust Mid Cap Core AlphaDEX Fund
IJH
BlackRock Institutional Trust Company N.A. - iShares Core S&P Mid-Cap ETF
IVOO
Vanguard Group, Inc. - Vanguard S&P Mid-Cap 400 ETF
MDY
State Street Global Advisors - S&P MidCap 400 ETF
MIDU
Direxion Shares ETF Trust - Direxion Daily Mid Cap Bull 3x Shares
SPMD
SPDR Series Trust - SPDR Portfolio S&P 400 Mid Cap ETF
EZM
WisdomTree Trust - WisdomTree U.S. MidCap Fund
VBR
Vanguard Group, Inc. - Vanguard Small Cap Value ETF
VB
Vanguard Group, Inc. - Vanguard Small Cap ETF
ESML
BlackRock Institutional Trust Company N.A. - iShares ESG Aware MSCI USA Small-Cap ETF
SMMD
BlackRock Institutional Trust Company N.A. - iShares Russell 2500 ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toFNX

#PTAC

Pick the Trending Asset Class

Category

Momentum, Tactical Asset Allocation, Be Risk Aware, Ride the Momentum

Risk Rating

Moderate

#EMH

Emerging Markets with a Bond Hedge

Category

Momentum, Be Risk Aware, Diversification

Risk Rating

Aggressive

Create your own algorithmic trading strategy with FNX using Composer

FAQ

FNX is a US Equities ETF. The Fund will seek investment results that correspond generally to the price and yield (before the Fund s fees and expenses) of an equity index called the NASDAQ AlphaDEX Mid Cap Core Index (the New Index ). The Index is a modified equal dollar-weighted index developed and maintained by The NASDAQ OMX Group, Inc. that is designed to generate positive alpha relative to traditional passive-style indices through the use of the AlphaDEX selection methodology. The NASDAQ AlphaDEX Mid Cap Core Index is an enhanced index created and administered by Nasdaq, Inc. ( Nasdaq ) which employs the AlphaDEX stock selection methodology to select stocks from the NASDAQ US 600 Mid Cap Index that meet certain criteria. Nasdaq constructs the NASDAQ AlphaDEX Mid Cap Core Index by ranking the eligible stocks from the NASDAQ US 600 Mid Cap Index on growth factors including 3-, 6- and 12- month price appreciation, sales to price and one year sales growth, and separately on value factors including book value to price, cash flow to price and return on assets. All stocks are ranked on the sum of ranks for the growth factors and, separately, all stocks are ranked on the sum of ranks for the value factors. A stock must have data for all growth and/or value factors to receive a rank for that style. Each stock receives either its growth or value score as it s selection score based on it s style designation as determined by Nasdaq. The top 450 stocks based on the selection score determined in the previous step comprise the selected stocks . The selected stocks are divided into quintiles based on their rankings and the top ranked quintiles receive a higher weight within the index. The stocks are equally-weighted within each quintile. The index is reconstituted and rebalanced quarterly.

FNX tracks the NASDAQ AlphaDEX Mid Cap Core Index.

No, FNX is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, FNX is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FNX is -0.0246%. This is the percent change in the value of FNX over the most recent 1-month period. The 3-month return on FNX is -0.0007%. This is the percent change in the value of FNX over the most recent 3-month period.

The standard deviation of FNX for the past year is 0.2153%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FNX include IVV, VTI, and IJR.

ETFs correlated to FNX include IJH, IVOO, and MDY.

ETFs that are inversely correlated to FNX include RWM, TWM, and TZA.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.