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ETFs

First Trust Mid Cap Value AlphaDEX Fund

FNK
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Apr 19 2011
Expense Ratio
0.70%
Type
US Equities
Fund Owner
First Trust
Volume (1m avg. daily)
$2,154,753
AUM
$215,118,084
Associated Index
NASDAQ AlphaDEX Mid Cap Value Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

XPO
XPO Inc
0.93%
RDN
Radian Group, Inc.
0.90%
DRS
Leonardo DRS Inc.
0.89%
MTG
MGIC Investment Corp
0.88%
TMHC
Taylor Morrison Home Corp.
0.87%
OC
Owens Corning
0.87%
TOL
Toll Brothers Inc.
0.87%
ESNT
Essent Group Ltd
0.86%
AEL
American Equity Investment Life Holding Co
0.85%
LPX
Louisiana-Pacific Corp.
0.84%
Invest with FNK

What is FNK?

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 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 Mid Cap Value 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 Value Index that meet certain criteria. Nasdaq constructs the NASDAQ AlphaDEX Mid Cap Value 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 225 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 toFNK

ETFs correlated to FNK include FAB, EZM, VBR

FNK
First Trust Exchange-Traded Fund III - First Trust Mid Cap Value AlphaDEX Fund
FAB
First Trust Exchange-Traded Fund III - First Trust Multi Cap Value AlphaDEX Fund
EZM
WisdomTree Trust - WisdomTree U.S. MidCap Fund
VBR
Vanguard Group, Inc. - Vanguard Small Cap Value ETF
SDVY
First Trust Exchange-Traded Fund VI - First Trust SMID Cap Rising Dividend Achievers ETF
IVOV
Vanguard Group, Inc. - Vanguard S&P Mid-Cap 400 Value ETF
ISCV
BlackRock Institutional Trust Company N.A. - iShares Morningstar Small-Cap Value ETF
FNX
First Trust Exchange-Traded Fund III - First Trust Mid Cap Core AlphaDEX Fund
IJJ
BlackRock Institutional Trust Company N.A. - iShares S&P Mid-Cap 400 Value ETF
MDYV
SPDR Series Trust - SPDR S&P 400 Mid Cap Value ETF
FYT
First Trust Exchange-Traded Fund III - First Trust Small Cap Value AlphaDEX Fund

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 toFNK

#SAM

Spread Across the Market

Category

Getting Defensive, Investing for the Long-Term

Risk Rating

Moderate

#GLOBE

Follow the Global Trend

Category

Momentum, Lever Up, Go Global, Diversification

Risk Rating

Moderate

Create your own algorithmic trading strategy with FNK using Composer

FAQ

FNK 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 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 Mid Cap Value 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 Value Index that meet certain criteria. Nasdaq constructs the NASDAQ AlphaDEX Mid Cap Value 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 225 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.

FNK tracks the NASDAQ AlphaDEX Mid Cap Value Index.

No, FNK 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, FNK 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 FNK is -0.0467%. This is the percent change in the value of FNK over the most recent 1-month period. The 3-month return on FNK is -0.1126%. This is the percent change in the value of FNK over the most recent 3-month period.

The standard deviation of FNK for the past year is 0.2585%. 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 FNK include IVW, IWF, and VTV.

ETFs correlated to FNK include FAB, EZM, and VBR.

ETFs that are inversely correlated to FNK include SBB, SRTY, and TWM.

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.