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ETFs

First Trust Multi Cap Value AlphaDEX Fund

FAB
$—
Today’s Change
— (—)

Snapshot
*

Inception Date
May 8, 2007
Expense Ratio
0.67%
Type
US Equities
Fund Owner
First Trust
Volume (1m avg. daily)
$528,827
AUM
$160,172,139
Associated Index
NASDAQ AlphaDEX Multi Cap Value Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

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CE
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Invest with FAB
Trade FAB Options

What is FAB?

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 Multi Cap Value Index (the 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 Multi Cap Value Index is an enhanced index created and administered by Nasdaq, Inc. ( Nasdaq ) which employs the AlphaDEX stock selection methodology to select stocks that meet certain criteria from the three indices NASDAQ US 500 Large Cap Index, NASDAQ US 600 Mid Cap Index and NASDAQ US 700 Small Cap Index. Nasdaq constructs the NASDAQ AlphaDEX Multi Cap Value Index by ranking the eligible stocks within each 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 187 stocks from the NASDAQ US 500 Large Cap Value Index, 225 stocks from the NASDAQ US 600 Mid Cap Value Index and 262 stocks from the NASDAQ US 700 Small Cap Value Index 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 within their size class and the top ranked quintiles receive a higher weight within the index. The NASDAQ AlphaDEX Multi Cap Value Index is comprised of the selected stocks in the following weights: the stocks selected from the NASDAQ US 500 Large Cap Value Index comprise 50%, the stocks selected from the NASDAQ US 600 Mid Cap Value Index comprise 30%, and the stocks selected from the NASDAQ US 700 Small Cap Value Index comprise 20%. The index is reconstituted and rebalanced quarterly.

1M
3M
6M
YTD
1Y
3Y
Max
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FAB
Performance Measures**

for the time period May 23, 2007 to Dec 4, 2025

Returns

1M Trailing Return: 4.8%

The percent change in the value over the most recent 1-month period.

3M Trailing Return: 1.7%

The percent change in the value over the most recent 3-month period.

Measures of Risk or Volatility

Max Drawdown: -63.3%

The greatest percent loss from peak to trough in value over the time period.

Standard Deviation: 23.9%

The typical amount that daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

Measures of Risk-Adjusted Performance

Sharpe Ratio: 0.43

The annualized arithmetic mean of the daily returns divided by the annualized standard deviation of the daily returns for the selected time period.

Calmar Ratio: 0.12

The annualized return divided by the max drawdown for the selected time period.

ETFs related toFAB

ETFs correlated to FAB include VBR, FTA, DON

FAB
First Trust Exchange-Traded Fund III - First Trust Multi Cap Value AlphaDEX Fund
VBR
Vanguard Group, Inc. - Vanguard Small Cap Value ETF
FTA
First Trust Exchange-Traded Fund III - First Trust Large Capital Value AlphaDEX Fund
DON
WisdomTree Trust - WisdomTree U.S. MidCap Dividend Fund
ONEY
SPDR Series Trust - SPDR Russell 1000 Yield Focus ETF
VFVA
Vanguard Group, Inc. - Vanguard U.S. Value Factor ETF
IVOV
Vanguard Group, Inc. - Vanguard S&P Mid-Cap 400 Value ETF
IJJ
BlackRock Institutional Trust Company N.A. - iShares S&P Mid-Cap 400 Value ETF
FNDA
Schwab Strategic Trust - Schwab Fundamental U.S. Small Company Index ETF
IWS
BlackRock Institutional Trust Company N.A. - iShares Russell Mid-Cap Value ETF
MDYV
SPDR Series Trust - SPDR S&P 400 Mid Cap Value 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.

FAQ

FAB 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 Multi Cap Value Index (the 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 Multi Cap Value Index is an enhanced index created and administered by Nasdaq, Inc. ( Nasdaq ) which employs the AlphaDEX stock selection methodology to select stocks that meet certain criteria from the three indices NASDAQ US 500 Large Cap Index, NASDAQ US 600 Mid Cap Index and NASDAQ US 700 Small Cap Index. Nasdaq constructs the NASDAQ AlphaDEX Multi Cap Value Index by ranking the eligible stocks within each 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 187 stocks from the NASDAQ US 500 Large Cap Value Index, 225 stocks from the NASDAQ US 600 Mid Cap Value Index and 262 stocks from the NASDAQ US 700 Small Cap Value Index 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 within their size class and the top ranked quintiles receive a higher weight within the index. The NASDAQ AlphaDEX Multi Cap Value Index is comprised of the selected stocks in the following weights: the stocks selected from the NASDAQ US 500 Large Cap Value Index comprise 50%, the stocks selected from the NASDAQ US 600 Mid Cap Value Index comprise 30%, and the stocks selected from the NASDAQ US 700 Small Cap Value Index comprise 20%. The index is reconstituted and rebalanced quarterly.

FAB tracks the NASDAQ AlphaDEX Multi Cap Value Index.

No, FAB 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, FAB 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 FAB is -0.0166%. This is the percent change in the value of FAB over the most recent 1-month period. The 3-month return on FAB is 0.0216%. This is the percent change in the value of FAB over the most recent 3-month period.

The standard deviation of FAB for the past year is 0.2108%. 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 FAB include IWO, VTV, and VUG.

ETFs correlated to FAB include VBR, FTA, and DON.

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

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.