- Last Ratings Update:02/28/2015
- Price as of 02/28/2015 :$31.37
- Net Assets:$68.2 Million
- Peer Rank:168 of 291
- Investment Rating:B-
We rate First Trust Mid Cap Val AlphaDEX at B-. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a well above average total return 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
Total return ranks very high in comparison with peers over the last three years. The First Trust Mid Cap Val AlphaDEX has returned an annual rate of 14.15% since inception. More recently, the fund has generated a total return of 15.82% in the last three years, 5.61% in the last year, and -0.52% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 77% of them. It has also outpaced 49% of its competitors on a one year basis for the period ending 2/28/2015. On a year to date basis, FNK has returned 1.26%.
Downside risk has been below average. FNK has a draw down risk of -9.07%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 13.0%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 2/28/2015, the fund was trading at a price of $31.37, which is 1.2% below its 52-week high of $31.76 and 7.0% above its 52-week low of $29.31.
High expense ratio hinders performance. On total assets of $68.20 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 109 First Trust Advisors LP exchange-traded funds launched since 6/12/2003 that we track.
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