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ETFs

First Trust Mid Cap Growth AlphaDEX Fund

FNY
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Apr 19 2011
Expense Ratio
0.70%
Type
US Equities
Fund Owner
First Trust
Volume (1m avg. daily)
$1,119,751
AUM
$264,748,120
Associated Index
NASDAQ AlphaDEX Mid Cap Growth Index
Inverse/Leveraged
No
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

WFRD
Weatherford International plc - Ordinary Shares - New
1.09%
VST
Vistra Corp
1.01%
LII
Lennox International Inc
0.92%
EME
Emcor Group, Inc.
0.91%
CELH
Celsius Holdings Inc
0.90%
SAIA
Saia Inc.
0.90%
CIVI
Civitas Resources Inc - Ordinary Shares New
0.89%
MUSA
Murphy USA Inc
0.88%
ALSN
Allison Transmission Holdings Inc
0.84%
DKNG
DraftKings Inc. - Ordinary Shares - Class A
0.83%
Invest with FNY

What is FNY?

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 Growth 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 Growth 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 Growth Index that meet certain criteria. Nasdaq constructs the NASDAQ AlphaDEX Mid Cap Growth 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 toFNY

ETFs correlated to FNY include BBMC, VB, MDYG

FNY
First Trust Exchange-Traded Fund III - First Trust Mid Cap Growth AlphaDEX Fund
BBMC
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan BetaBuilders U.S. Mid Cap Equity ETF
VB
Vanguard Group, Inc. - Vanguard Small Cap ETF
MDYG
SPDR Series Trust - SPDR S&P 400 Mid Cap Growth ETF
IJK
BlackRock Institutional Trust Company N.A. - iShares S&P Mid-Cap 400 Growth ETF
SMMD
BlackRock Institutional Trust Company N.A. - iShares Russell 2500 ETF
SCHM
Schwab Strategic Trust - Schwab U.S. Mid-Cap ETF
MIDU
Direxion Shares ETF Trust - Direxion Daily Mid Cap Bull 3x Shares
IWO
BlackRock Institutional Trust Company N.A. - iShares Russell 2000 Growth ETF
MDY
State Street Global Advisors - S&P MidCap 400 ETF
VTWG
Vanguard Group, Inc. - Vanguard Russell 2000 Growth Index 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 toFNY

#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 FNY using Composer

FAQ

FNY 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 Growth 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 Growth 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 Growth Index that meet certain criteria. Nasdaq constructs the NASDAQ AlphaDEX Mid Cap Growth 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.

FNY tracks the NASDAQ AlphaDEX Mid Cap Growth Index.

No, FNY 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, FNY 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 FNY is -0.0239%. This is the percent change in the value of FNY over the most recent 1-month period. The 3-month return on FNY is -0.0228%. This is the percent change in the value of FNY over the most recent 3-month period.

The standard deviation of FNY for the past year is 0.2063%. 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 FNY include VTV, VUG, and IVW.

ETFs correlated to FNY include BBMC, VB, and MDYG.

ETFs that are inversely correlated to FNY 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.