- Last Ratings Update:10/31/2013
- Price as of 10/31/2013 :$28.19
- Net Assets:$31 Million
- Peer Rank:4 of 268
- Investment Rating:A+
We rate First Trust Mid Cap Val AlphaDEX at A+. This overall rating indicates it is among the top 10% of all closed end mutual funds in its peer group. Positive factors that influence this rating include a low price volatility and low expense structure. The fund invests approximately 100% of its assets in stocks and may be considered for investors seeking a Growth - Domestic strategy.
POSITIVES AND RISKS
New Fund off to good start in the last year. The First Trust Mid Cap Val AlphaDEX has returned an annual rate of 16.95% since inception. More recently, the fund has generated a total return of 36.98% in the last year, 14.78% in the last six months, and 4.16% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 90% of them for the period ending 10/31/2013. On a year to date basis, FNK has returned 31.00%.
Downside risk has been below average. FNK has a draw down risk of -9.44%, which is the largest price decline experienced since the inception of the fund. This fund has a one year standard deviation of 11.3%. This fund has had moderate volatility in its monthly performance over the last 12 months. As of 10/31/2013, the fund was trading at a price of $28.19, which is 1.2% below its 52-week high of $28.54 and 6.4% above its 52-week low of $26.50.
High expense ratio hinders performance. On total assets of $31.00 million, FNK maintains a high expense ratio compared to its Growth - Domestic peers of 0.70% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As FNK is an exchange traded fund, it has no front end or back end load.
The First Trust Mid Cap Val AlphaDEX is managed by Daniel J. Lindquist at First Trust Advisors LP. This fund is one of 91 First Trust Advisors LP exchange-traded funds launched since 6/12/2003 that we track.
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